Happy Tues-Monday to you! Hoping you had a delightful Easter. Had enough rice, chicken, jollification and everything nice?
I bet you did!
Got a couple of juices for ya today, so let’s do it!!
Market Outlook: Let’s go, April!!!
Stocks finished out the holiday pre-Easter week with gains, and strategists expect April to be a strong period for the market. YAAASSSS!! Because we all need that pick-me-up! The coming week is fairly quiet, as the market anticipates the first quarter earnings season. April started off with a rally towards the end of the last week, and the market could continue [hopefully all fingers & toes crossed cos fam!] to notch gains as the month gets underway, strategists say. Economists [and I – like, who doesn’t?] expect a very strong second quarter as the economy reopens and stimulus spending kicks in, and that should be positive for stocks — unless interest rates rise become a thing and rise quickly. On Thursday, the S&P 500 rose 1.2% to a new record close of 4,019.87. Meanwhile, the Dow Jones Industrial Average climbed more than 170 points, and the tech-heavy Nasdaq Composite jumped 1.8%.
Let’s all say a prayer for the April markets now, shall we? Word on the street is that April has historically been a good month soooo!! Toes Crossed Yo!
Tesla is Printing Monaayyyy
Did you order a Tesla? …Because there’s no other explanation for who bought the 184,800 vehicles Tesla sold in three months!!! On Friday, Tesla posted record deliveries for Q1 2021 (January to March quarter), beating Wall Street’s estimates of 177,822 projected vehicles sales. According to the company, the less expensive Model Y was strongly received in China and the Model S and Model X aren’t doing badly in sales either. Late last year, Tesla’s Shanghai factory started production of the Model Y in the key market where it already produces Model 3 sedans. In February 2021, Tesla’s China sales jumped from the previous month even as demand usually falls during China’s Lunar New Year holidays which occurred that month.
I mean, Tesla is TESLA.
Don’t lie, you picked one up, didn’t you?!
NIO & Xpeng Following Suit
Chinese electric car start-ups Nio and Xpeng defy first quarter weakness with a March surprise. 🙂 Quite unbelievably, Xpeng beat its guidance for first quarter deliveries, while Nio also came in closer to its original projections. Shares of both companies rose more than 1% during Thursday’s trading session in New York, but are still lower year-to-date. I mean, a win in the current market… is a win. On Thursday, Xpeng said it delivered 5,102 cars in March, beating expected deliveries of 4,262 cars for that month. In total, Xpeng delivered a total of 13,340 vehicles in the first quarter, beating estimates of 12,500 for the period. Likewise, Nio announced deliveries of 7,257 vehicles in March, marking 20,060 cars for the first three months of the year — the most for any quarter, according to the company.
Nice work, EVs!
New York’s Cannabis
You might have heard that New York has legalized the recreational adult use of cannabis. Interesting times we’re in! Although, a steady stream of positive developments in the space, pot plays have had trouble hanging onto gains in 2021. Though many U.S. cannabis companies posted strong fiscal fourth-quarter earnings, “the bar was set pretty high,” Tim Seymour, portfolio manager of the Amplify Seymour Cannabis ETF. Notwithstanding, not only could New York grow to a $5.5 billion market “in the next couple years,” potentially the largest after California, but it could also accelerate legalization across the rest of the East Coast, said Seymour, also the founder and chief investment officer of Seymour Asset Management.
Might be time to pick up some cannabis stocks into your portfolio!
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How you go into the week knowing that it’s going to be a great one!
…and no joh, I didn’t forget to wish you a Happy Scintillating Easter!!! You even had a whole blast without me. Is that how you use to do?
But I Forgive Ya… so,
Lets. Go. April!
XOXO