Google stock fell solidly in overnight action, apparently on the heavy capex plans. Shares sank 1.5% to 342.09 in Wednesday's session, falling further from the 50-day line. Tesla earnings jumped, but fell well short of views despite strong Q2 EV deliveries. Capital spending spiked, but less than expected. So Tesla burned cash for the first time in years, but the drop was less than expected. Elon Musk, on the conference call, once again preached caution on the robotaxi expansion and Optimus efforts, while pledging "massive" cap ex. Tesla stock tumbled in extended trade. We did NOT own either. Moral: *Be CAREFUL just before earnings.
Patrick WalkerShare
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