Watch These Stocks This Morning




The tides turned for the EV market. Tesla’s (TSLA) excess supply pales in comparison to Toyota’s (TM) March 2024 sales growth.

Toyota reported a 21.8% Y/Y increase in sales, to 214,894 units. Its EV segment is also gaining momentum. EV sales rose by over 60% Y/Y, to 78,157 units. EV sales account for 36.4% of Toyota’s March sales.

At $239.89, TM shares are off their 52-week high of $255.23. Watch for the stock to find support at around $230.00.

In Chinese markets, watch Alibaba (BABA) today. Despite disclosing on Tuesday that it bought back 524 million shares, spending $4.8 billion, BABA shares fell on the day. The buyback is the company’s biggest in a quarterly period. Bulls are waiting for the stock to squeeze higher. Unfortunately, markets distrust the struggling retailer.

Watch PDD stock today. After briefing topping nearly $150, the stock closed at $118.24. It is unable to break through a downtrend that started in Dec. 2023.

In the de-SPAC special situations trade, trade the volatility in Trump Media (DJT). Wait for selling pressure to ease before speculators re-enter the stock. On Monday, the firm disclosed a $58 million net loss in 2023. It reported only $4.1 million in revenue. Ex-U.S. President Trump holds around 57.3% of the outstanding shares.



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