📉 Tesla's revenue couldn't steer itself

[Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for April 24th in 3:09 minutes.   🚎 If this newsletter makes your morning subway commute a little less hideous, [take a look at our promotional solutions]( and consider rescuing your customers' from that pre-work wave of dread. They'll thank you for it. [Get in touch]( Today's big stories - Tesla reported revenue that had veered off course, but investors seemed more focused on news of its next model - Three lessons you can take from GCR, one of crypto’s best traders – [Read Now]( - Britain’s biggest sportswear retailer, JD Sports, made a billion-dollar purchase – and it wasn’t just some fresh sneakers Electric Slide [Electric Slide] What’s going on here? Tesla [reported]( its first revenue drop in four years late on Tuesday. What does this mean? Investors weren’t expecting much from Tesla’s earnings. The EV maker reported earlier this month that it had delivered 20% fewer cars to customers last quarter than the one before, and 8.5% fewer than the same time last year. Worse still, Tesla made a record 46,600 more vehicles than it delivered, suggesting that despite a long run of price cuts, drivers just aren’t that interested. Good job investors braced themselves: with both sales volume and prices dropping, Tesla reported that revenue fell by a more-than-expected 9% last quarter from a year ago. Why should I care? The bigger picture: Musk’s head has been turned (again). Still, investors looked past the revenue slump, distracted by the firm’s commitment to launching a much cheaper EV next year. See, Reuters had [reported]( earlier this month that Tesla was delaying plans to produce the budget-friendly “Model 2”, spending its time and money on self-driving robotaxis instead. And that had worried the many investors who were hoping that a more affordable model would reverse Tesla’s declining sales. Robotaxis, after all, aren’t expected to pad out the bottom line until years down the road – and that could be jeopardized by technology blips or regulatory hurdles along the way. So with the firm putting those rumors to rest on Tuesday, investors initially sent Tesla’s shares up after the update. For markets: Tesla’s just the start. Tesla was the first of the “Magnificent Seven” firms to report results from last quarter. And after the group of tech titans drove most of the S&P 500 index’s earnings increase last year, investors are hoping they can keep it up. Bloomberg certainly seems to believe in them: it estimates that the cohort’s collective profit will be 38% higher in the first quarter of this year than last, while the rest of the index will see earnings shrink by 4% over the same timeframe. You might also like: [How to ride the EV boom.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Electric Slide&utm_campaign=daily-global-24-04-2024&utm_source=email) Analyst Take Three Pearls Of Wisdom From A Crypto Trading Legend [Three Pearls Of Wisdom From A Crypto Trading Legend]( By Jonathan Hobbs, CFA, Analyst If you’ve spent time on crypto Twitter (X) over the years, you probably know a trader with the pseudonym “[GCR](”. GCR was a regular on the FTX top traders list before the exchange collapsed. He called the 2021 crypto top to a tee and shorted the Terra Luna crash to bank over $6 million. He’s also known for his tweets of crypto insight. That’s today’s Insight: [three lessons you can take from GCR, one of crypto’s savviest traders](. [Read or listen to the Insight here]( SPONSORED BY GRAYSCALE Crypto’s big boss [Grayscale]( is big when it comes to crypto. Like, literally really big. The digital asset specialist manages the [biggest batch of crypto assets]( in the world*, and has done so since 2013. That makes them pretty old as well as big – at least in crypto years. Grayscale is a pioneer of crypto investments, working to bring investors [exposure to this emerging asset class]( in innovative ways. Its mantra: crypto investing begins with Grayscale. It could be a good time to get to know your crypto options, after all: bitcoin reached a new all-time high in March 2024. So if you’re curious about crypto’s new mainstream era, you may as well [explore bitcoin with the biggest](. [Find Out More]( Disclosures*Based on AUM as of 3/31/2024. Past performance is not indicative of future results. Investing involves risk and possible loss of principal. Visit Grayscale.com for important risk disclosures. When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( Fits Like A Golf Glove [Fits Like A Golf Glove] What’s going on here? JD Sports, Britain’s biggest sportswear retailer, [announced]( that it’s buying Hibbett Sporting Goods for over $1 billion, in what must be one of the UK’s biggest-ever sportswear hauls. What does this mean? JD Sports has made a name for itself through a sequence of sneaker drops and small acquisitions. The most recent was aimed at Hibbett, a US sporting goods retailer. JD’s buyout pitched Hibbett’s shares at $87.50 each, making for a total valuation of $1.1 billion. There’s no bargain-hunting here: that’s some 21% higher than the $72.49 that Hibbett’s stock was trading for on Monday. Why should I care? Zooming in: The American dream. Europe, Asia, and Australia have been well-trodden by sneakers from JD. But the retailer only has a single-digit market share in the US, despite opening up a flagship outlet in New York’s Times Square four years ago. So teaming up with Hibbett would allow JD to cover more ground without stepping on its own toes. Hibbett has over 1,100 stores around the country, see, which brought in $1.7 billion in sales last year. Combined with JD’s stateside sales from last year, that would be around $5.8 billion – enough to mean 40% of JD’s sales will be from the US, up from today’s 32%. The bigger picture: Adidas has its running shoes on. JD sells big-name brands like Nike and Adidas, but it’s no passive spectator: the retailer recently criticized Nike for a lack of innovation in its latest product drop. That, at a time when Nike’s lackluster sales have sent the share price falling 26% over the last year, while Adidas’s stock has increased by 40% in the same timeframe. But if Nike’s Olympic products win gold, then investors might be glad that they backed the underdog. You might also like: [How to invest in sports.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Fits Like A Golf Glove&utm_campaign=daily-global-24-04-2024&utm_source=email) 💬 Quote of the day "I have a mind to join a club and beat you over the head with it." – Groucho Marx (an American comedian and actor) [Tweet this]( Modern investors want quality information and education designed to help them increase their net worth – and they want it fast. The solution: [newsletters](. It's no wonder busy investors love them: they swap hours spent scouring news sites and annual reports for daily blasts of curated, important updates that land straight in their inboxes. But if you're going to write one, you need to do it right: [here's our cheat sheet to nailing a regular newsletter](. [Check The Cheat Sheet]( 🥇 Gold is still on top Traders have been slashing their bets for interest rate cuts this year. You'd probably expect that to push down gold prices, with riskier stocks and high-yield-paying investments potentially becoming more attractive than the shiny stuff that pays no income. Yet, gold set a new all-time high just this month. [Here's why it should be tough for gold right now – and why it's not.]( [Read The Quicktake]( 🎯 On Our Radar 1. No more Depop drama. TikTok is entering the UK’s [second-hand clothing market](. 2. ESG investing isn’t just a feel-good theory. Here’s how you could [put principles into practice](.* 3. Trade in your handmade sign for some knee supporters. This year you watched the marathon, [next year you might be running it](. 4. There's nothing like staying active. Here's how [different active investing strategies]( could play out for you.* 5. “What light through yonder camera breaks?” The latest AI invention [turns photos into poems](. 🌍 Finimize Live 🤩 Grab your tickets... 🚀 [2024 Modern Investor Summit](: 2pm UK time, December 3rd ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? [Get in touch]( Image Credits: Image credits: dall-e | dall-e Preferences: [Update your email]( or [change preferences]( [View in browser]( [Unsubscribe]( from all Finimize Emails 😴 Crafted by Finimize Ltd. | 280 Bishopsgate, London, EC2M 4AG All content provided by Finimize Ltd. is for informational and educational purposes only and is not meant to represent trade or investment recommendations. 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