After several days of relentless daily declines, Tesla finishes the 2nd to last trading day of 2022 at $121.81 +9.11 +8.08% on heavy volume of 206,908,242. It finished with PE (TTM) of 37.53 and Forward PE (NTM) 23.36 according to cnbc.com. The PEG is 0.9x and 1 year EPS growth rate is 40.1%. With EV in general only accounting for a small percentage of total vehicles, Tesla is expected to continue growing. Some of the decline may have been tax loss harvesting where an investor may be selling Tesla at gain to cover a lost with another position or selling Tesla at a lost to cover gains elsewhere. Other selling orders can be from investors who purchased Tesla using borrowed money or on margin and the brokerage has issued margin call and forced the investor to reduce his or her position to account for the decline in account balance. The selling may have been overdone and it is being corrected today.
Amazon finished 84.14 +2.36 +2.88. Its PE is significantly higher at 77.69 and Forward PE is 64.80 and 1 year EPS Growth Rate is 19.3%. Google finished 88.95 +2.49 +2.88%. Its PE is 17.66, forward PE 18.02. It has PEG of 1.59x and is expected to have 1 year EPS Growth rate of -1.9%. Based on PE metrics and growth rate, Tesla appear stronger of the two. On January 2022, Tesla started the year at $382.58. Through December 29 2022, this represented a loss of -$260.77 or -68%. These declines are a disconnect with what the company has accomplished in the year. Tesla has generated positive cashflow and increased production capability in 2022. Q4 2022 will be reported in 2023 and it is expected to have record positive earnings for Q4 2022 of EPS of 1.238.
Tesla twitter account posted a recap of 2022 accomplishments: https://twitter.com/Tesla/status/1608551444483043328
“Achieved a record output of 4680 cells, with total amount of cells produced in one week equalling 1k+ cars”
FSD enabled for North American purchasers who request FSD Beta. Enabled FSD for 285k cars.
Giga Texas an Giga Berlin both reached 3k Model Y per week rate in December.
Supercharger network opened to Non Tesla EV in 15 European countries