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Tesla Motors Inc (TSLA) And Netflix (NFLX). How Was Their Monday?

Tesla Motors Inc is really close to unveiling the Model 3 this month, and this pushed its stock up on Monday. In contrast, Netflix was down sharply yesterday, after a less than favorable report hit the video-streaming firm really bad.

Tesla Motors Inc Model X

Tesla Model 3 to be unveiled soon

Tesla Motors Inc started sending out invites for the Model 3 unveiling event, which is scheduled for March 31. At the top of the invite, Tesla noted that the event will be in Los Angeles. The EV firm us expected start shipping the Model 3 in late 2017.

“Congratulations again on winning tickets to our upcoming Model 3 unveiling! We appreciate your support and participation in our Referral Program;” the invite reads. “We are excited to announce that the Model 3 unveiling will take place on the evening of Thursday March 31st in Southern California. As a reminder, you are permitted to bring one guest to the event and are responsible for the cost of travel, lodging and other incidentals.”

Tesla investors had been eagerly waiting for the Model 3 unveiling for the reason that it will help the high-end electric car maker to go mainstream with Model 3, which will be more affordable. The car is expected to be priced around $35,000, much less than the Model S $75,000 or Model X SUV $80,000 before incentives.

On Monday, Tesla Motors Inc closed up 2.1% to close at $205.29. Year to date, the stock is down over 14% while in the last one-year, it is up almost 6%. In pre-market trading today, Tesla shares were down.

Netflix stock affected due to analyst report

Netflix took a hit after ITG analyst issued a report, stating that the streaming video firms 2016 domestic subscriber growth appear to high. Investors may have got spooked because the same analyst predicted in the last quarter of 2015 that Netflix’s domestic subscriber outlook may be weaker than what Wall Street was expecting. Eventually, it turned out to be true, and the firm missed its domestic subscriber figures by a small margin.

However, analysts at RBC Capital Markets and Pacific Crest are much more bullish about the streaming firms prospects despite ITG’s prediction. Results from a survey that RBC conducted showed that a higher percentage of people are using Netflix for watching movies and TV shows, and this led to a spike in Netflix’s shares on Friday.

On Monday, Netflix closed down 6% to close at $95.49. Year to date, the stock is down almost 17% while in the last one-year, it is up over 47%. In pre-market trading today, Netflix shares were down.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

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