The layoffs will continue until the stock improves

[] It’s not supposed to be like this [View in browser]( [View in browser]( [] MAY 7, 2024 [] [] PROSPERITY PUB MARKET TALK Tesla Trims The Fat (or maybe the whole ham) Tesla's workforce is experiencing the employment equivalent of a black hole — it just keeps sucking people in. For the fourth week running, pink slips have been raining down like a particularly depressing confetti parade. Software engineers, service technicians, and even the entire EV charging team (500 strong!) have all found themselves on the receiving end of Elon Musk's cold, hard choices. The official story from Tesla? Reorganization. Apparently, every five years the company needs a good shake-up, like a particularly enthusiastic snow globe. But let's face it, that explanation feels a bit hollow. In an email to employees, Musk himself talked about needing to be "absolutely hard core" about these cuts, and that anyone working under executives who "don't obviously pass the excellent, necessary and trustworthy test" would be out of a job. Sounds less like a performance review and more like a scene from a dystopian novel, doesn't it? Musk has privately told executives that he wanted to slash a full 20% of the workforce, specifically because the company’s quarterly vehicle deliveries fell by that same amount. Considering the 10% reduction already confirmed, it seems Musk is just getting warmed up. This all comes against a backdrop of slumping sales, dwindling profits, and a CEO who seems more interested in things other than running the EV maker. So, what's next? Will the layoffs continue until there's just Elon Musk and a single, very nervous intern left? Only time (and maybe the stock price) will tell. But one thing's for sure: Tesla's workforce is feeling the squeeze, and it's not exactly a morale booster. TSLA Stock Our own Jeffry Turnmire has had a longtime downside target of between 160 and 140 for TSLA stock. When the stock hit 138 right before earnings, Jeffry told us that it could be getting ready to go higher. Sure enough, despite bad earnings, TSLA bounced hard — as much as 43% from its lowest point. It’s a great example of how Jeffry tells us: The news doesn’t make the charts. Now he tells us TSLA faces significant upside resistance, but if it can work firmly through the 207 level, he’s got major, longer-term upside targets of 350 and even 500. We wouldn’t call this a tradeable opportunity yet. But keep your eye on TSLA. — The Prosperity Pub Team [] [] 49 - 3: Dominate The Market That’s the win/loss record of market pro, Jack Carter’s premiere trading strategy: 49 wins and 3 losses. If you had a baseball team with that kind of record, it would be the most feared team in the league! Are you ready to experience the strategy for yourself? [Discover Jack’s Strategy right now!]( [] [] SCOTT WELSH’S TICKER TALES Bank on It (BK) Remember the days when everyone was worried that banks were all in trouble? It wasn’t that long ago. But all has been forgiven and forgotten. The Banking group is now one of the top 40 hottest groups in the world and bank stocks are surging. And Bank of NY Mellon (BK) is definitely participating in that surge. Here’s the chart: [] BK has been soaring since last October and a break above $58.27 could lead to a big explosion. We’ll keep an eye on it. Happy trading, — Scott Welsh P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on [this Ask The Pros episode]( starting at timestamp 20:45. [] [] [] [] MAY 7, 2024 [] [] PROSPERITY PUB MARKET TALK Tesla Trims The Fat (or maybe the whole ham) Tesla's workforce is experiencing the employment equivalent of a black hole — it just keeps sucking people in. For the fourth week running, pink slips have been raining down like a particularly depressing confetti parade. Software engineers, service technicians, and even the entire EV charging team (500 strong!) have all found themselves on the receiving end of Elon Musk's cold, hard choices. The official story from Tesla? Reorganization. Apparently, every five years the company needs a good shake-up, like a particularly enthusiastic snow globe. But let's face it, that explanation feels a bit hollow. In an email to employees, Musk himself talked about needing to be "absolutely hard core" about these cuts, and that anyone working under executives who "don't obviously pass the excellent, necessary and trustworthy test" would be out of a job. Sounds less like a performance review and more like a scene from a dystopian novel, doesn't it? Musk has privately told executives that he wanted to slash a full 20% of the workforce, specifically because the company’s quarterly vehicle deliveries fell by that same amount. Considering the 10% reduction already confirmed, it seems Musk is just getting warmed up. This all comes against a backdrop of slumping sales, dwindling profits, and a CEO who seems more interested in things other than running the EV maker. So, what's next? Will the layoffs continue until there's just Elon Musk and a single, very nervous intern left? Only time (and maybe the stock price) will tell. But one thing's for sure: Tesla's workforce is feeling the squeeze, and it's not exactly a morale booster. TSLA Stock Our own Jeffry Turnmire has had a longtime downside target of between 160 and 140 for TSLA stock. When the stock hit 138 right before earnings, Jeffry told us that it could be getting ready to go higher. Sure enough, despite bad earnings, TSLA bounced hard — as much as 43% from its lowest point. It’s a great example of how Jeffry tells us: The news doesn’t make the charts. Now he tells us TSLA faces significant upside resistance, but if it can work firmly through the 207 level, he’s got major, longer-term upside targets of 350 and even 500. We wouldn’t call this a tradeable opportunity yet. But keep your eye on TSLA. — The Prosperity Pub Team [] [] 49 - 3: Dominate The Market That’s the win/loss record of market pro, Jack Carter’s premiere trading strategy: 49 wins and 3 losses. If you had a baseball team with that kind of record, it would be the most feared team in the league! Are you ready to experience the strategy for yourself? [Discover Jack’s Strategy right now!]( [] [] SCOTT WELSH’S TICKER TALES Bank on It (BK) Remember the days when everyone was worried that banks were all in trouble? It wasn’t that long ago. But all has been forgiven and forgotten. The Banking group is now one of the top 40 hottest groups in the world and bank stocks are surging. And Bank of NY Mellon (BK) is definitely participating in that surge. Here’s the chart: [] BK has been soaring since last October and a break above $58.27 could lead to a big explosion. We’ll keep an eye on it. Happy trading, — Scott Welsh P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on [this Ask The Pros episode]( starting at timestamp 20:45. [] [] [] [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub]( [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub](