Jul 24 Market Commentary
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Overnight markets are mixed with Asia 5/6 red, EU 3/4 green while SPY is up 1.5pts in pre-market action. Most of yesterday’s action was in the pre-market with the cash session only producing a -.16% open to close reading. TSLA got absolutely smashed in pre-market and the cash session, now down -14.6% since earnings with GOOGL down -7.14% since its earnings release. The key for GOOGL was the capex being quite large and the negative free cash flow hidden in the details (a first for this company in decades). SPCX rallied off the 111 lows and is +1.5% since the cash open yesterday. Lots of volatility in the single ticker space.
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