Fri, Jul 5, 2024 3:09 PM
Voice technology startup Intella, edutech firms Jeel, El Kheta raise funds
A Flip by Shubhangi Gupta
Tesla shares surged 27% last week, driven by a better-than-expected Q2 deliveries report and anticipation of the company's Robotaxi Day. The stock closed above the 50- and 200-week moving averages and a 12-month downtrend line, indicating buying conviction. Key levels to watch include resistance at $299.29, $384.29, and $414.50, while potential support lies around $205.
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BCA Research predicts the S&P 500 will plummet 32% in 2025 as a recession hits the US economy, citing the Federal Reserve's failure to prevent it by cutting interest rates in time. Rising unemployment and constrained credit will curb consumer spending, worsening the downturn. The firm said the Fed will fail to prevent a recession as it takes its time cutting interest rates.
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Roku and Disney are struggling in the transforming media landscape, with their shares down 87% and 51% respectively. Roku's revenue jumped 19% in Q1 2024, and its price-to-sales ratio of 2.4 is a 75% discount to its historical average. Disney's streaming services have 228.6 million paying members, but operating losses are massive, and the company is cutting costs to reach profitability.
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