Adara Acquisition Corp
Change company Symbol lookup
Select an option...
ADRA Adara Acquisition Corp
EVTC Evertec Inc
OPEN Opendoor Technologies Inc
XAIR Beyond Air Inc
SHEL Shell PLC
CXE MFS High Income Municipal Trust
CWGL Crimson Wine Group Ltd
REXR-C Rexford Industrial Realty Inc
OSS One Stop Systems Inc
WFC Wells Fargo & Co
Go

Company profile

Adara Acquisition Corp. is a blank check company. The Company is created for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company focuses on companies in the consumer products industry and related sectors. The Company has no operations and has no revenues.

Price
Delayed
$9.94
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
9.96
Day's Low
9.94
Volume
(Light)

Today's volume of 582 shares is on pace to be much lighter than ADRA's 10-day average volume of 39,394 shares.

582

Why Tesla's 'robust fundamentals' can offset a challenged quarter

10:03 am ET June 24, 2022 (MarketWatch)
Print

By Emily Bary

Despite short-term supply issues, Credit Suisse sees reason for optimism on Tesla

Tesla Inc. may be on track to report a "challenged quarter," but there's still plenty of reason to be optimistic about its stock, according to a Credit Suisse analyst.

While Credit Suisse's Dan Levy expects that the company will post second-quarter deliveries of 242,000 vehicles, well below the consensus view for roughly 273,000, he said that the bullish case for Tesla (TSLA) "is amplified" given the company's strong positioning.

"We believe the long-term case for Tesla is clear -- Tesla remains the global leader in EV [electric vehicles], and amid rising supply chain risks, we believe Tesla's lead over other automakers in the race to EV is only amplified given its lead in vertical integration and its prior EV experience," Levy wrote.

See also: Tesla stock selloff created 'generational' investment opportunity, analyst says

He cut his price target on Tesla's stock to $1,000 from $1,125, a change he said is reflective of a higher discount rate. He also nearly halved his second-quarter earnings estimate, to $1.10 a share from $2.06 a share, after taking into account factors such as updated delivery expectations, the prospect of negative margin impacts from new Austin and Berlin facilities, and the likelihood of an impairment charge related to the company's stake in bitcoin.

Read: Tesla's 'strong competitive advantage' earns stock an upgrade

Nonetheless, Levy was looking beyond the quarter and kept the outperform rating on the shares that he established back in January, as the lowered price target still implies near-40% upside from current levels. While the shutdown of Tesla's Shanghai plant was "the story" in the second quarter, he expects a ramp in the second half of the year.

Additionally, the company has implemented price increases in the wake of surging inflation, though Levy sees these price hikes as a sign of Tesla's strong demand and notes that they will begin to manifest in financial results later this year or early next year given that they only cover new orders.

"We...continue to believe in our thesis that robust fundamentals ahead should outweigh the near-term challenges for Tesla such as the recent growth selloff, production disruptions in China, lingering semiconductor shortage and magnified inflationary pressures," Levy wrote.

Shares of Tesla surged 3.4% in Friday morning trading. They're off about 28% over the past three months as the S&P 500 has fallen roughly 15%.

-Emily Bary

	

(END) Dow Jones Newswires

June 24, 2022 10:03 ET (14:03 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.