Tesla stock drops as Elon Seeks More Control

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Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were down on Tuesday. The banks got off to a lackluster start to earnings season on Friday, which is fueling more uncertainty behind interest rate hikes. Investors will be focusing on Wednesday’s retail sales report which should clue them in on the Federal Reserve’s data-driven policy.

No matter what the Federal Reserve decides to do, we’ll be ready in The War Room. Last week Bryan and Karim went closed 6-of-8 trades for winners (75% win rate), including Karim’s 121.75% return on XBI in 308 trading days.

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Here’s a look at the top-moving stocks this morning.

Tesla (Nasdaq: TSLA)

Tesla is down 1.82% premarket after a rough week for the electric vehicle maker. Tesla extended a recent sell-off and broke key support levels. CEO Elon Musk is seeking more control over Tesla, with ambitions to own about 25% of Tesla’s shares. Musk issued a threat saying that he is not comfortable expanding Tesla’s role in AI and robotics without this level of control.

Boeing (NYSE: BA)

Boeing’s shares are down 2.23% premarket. This movement comes amid various challenges facing the company, including production issues and global market uncertainties. Boeing is currently facing a significant challenge due to safety concerns with its 737 MAX 9 planes. On January 7, 2023, U.S. regulators grounded 171 Boeing 737 MAX 9 planes for safety checks after an incident involving an Alaska Airlines jet. During a flight, a cabin panel on this aircraft blew off, forcing the plane to make an emergency landing.

Apple, Inc. (Nasdaq: AAPL)

Apple is down 1.55% premarket after reports the The U.S. Department of Justice (DOJ) is in the final stages of a two-year investigation into Apple’s ecosystem, focusing on whether the integration of Apple’s suite of products, including iPhones, the App Store, Apple Watch, iMessage, and AirTags, blocks competition. This investigation could potentially lead to a sweeping legal action against Apple, adding to the company’s challenges in a difficult year.

Major Tech stocks like APPL have been a focus of our Lead Technical Tactician Nate Bear’s latest service, Profit Surge Trader. Last week Nate closed a 30% winner on Microsoft in 7 trading days.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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