In 2022, investors grappled with the deepest bear market since the global financial crisis in 2008, and the technology sector took the brunt of the pessimism. Cathie Wood's Ark Invest is focused on the technology sector, so it experienced a steep decline in the value of its exchange-traded funds (ETFs). Its flagship Ark Innovation ETF fell a whopping 66% for 2022.
Orders for Tesla (NASDAQ: TSLA) are soaring in response to the price cuts, but there is more nuance to those benefits than meets the eye. This video will highlight the key insights Elon Musk gave investors.
In recent weeks, investors have been debating whether the vehicle price cuts Tesla (NASDAQ: TSLA) has announced in all its major markets were forced by a drop in demand or a strategic plan. Tesla is the only profitable pure electric-vehicle (EV) maker. While Tesla's gross and operating margins declined, the company reported record net earnings in the quarterly period, showing that its plan is paying off.