The Meet Kevin Pricing Power ETF

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Tidal Financial Group and Plato's Philosophy LLC have announced the closure and liquidation of the Meet Kevin Pricing Power ETF (NYSE Arca: PP), effective February 28, 2025. The decision follows a thorough evaluation and is determined to be in the best interests of the fund and its shareholders.

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In 2024, prominent fund managers Gary Black, Ross Gerber, and Cathie Wood have shown mixed results against the S&P 500's impressive 25.97% year-to-date return. Black's Future Fund Active ETF has nearly matched the broader market's gains, while Gerber's AdvisorShares Gerber Kawasaki ETF has also delivered strong performance. However, Wood's flagship ARK Innovation ETF has lagged behind.

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Tesla reported lower-than-expected Q2 2024 earnings, continuing its losing earnings streak for the fourth consecutive quarter. However, the company surpassed revenue estimates. This has impacted ETFs with significant Tesla exposure, including PP, XLY, VCAR, ARKK, and ARKQ.

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BofA Securities analyst John Murphy reiterated a Buy rating on Tesla Inc (NASDAQ:TSLA) with a price target of $220. The re-rating reflected Tesla’s first-quarter commentary and results along with near-term catalysts for the stock, including the China breakthrough reports, the August Robotaxi event, a new product launch by early 2025, and the potential licensing of FSD. Further, Murphy added that TSLA would benefit should EV demand recover. Also Read: Tesla’s Robotaxi Plans: Potential Threat Or Future Partner For Uber? Recent reports indicated that Tesla received China’s approval to launch its Full Self-Driving (FSD) technology in the country.  China is the world’s largest automotive market in terms of new vehicle sales, and if confirmed, this approval will enable TSLA to deploy its FSD driver-assistance system there.  Murphy added that TSLA is also the only Western manufacturer to have been included in China’s list of companies that meet automotive data security requirements alongside domestic manufacturers. Potential FSD revenue in China would be small relative to the sales TSLA generates from its vehicles. However, Murphy stated that it ...Full story available on Benzinga.com

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Truist Securities analyst William Stein reiterated Tesla Inc (NASDAQ:TSLA) with a Hold and lowered the price target from $193 to $176. On April 2, Tesla reported first-quarter 2024 deliveries 15.4% below FactSet consensus, citing various factors.  This, combined with Stein’s proprietary ASP analysis, led him to reduce his annual unit delivery, revenue, & EPS estimates for calendar year 2024 & calendar year 2025. Longer-term, he noted Tesla as a significant supplier of AI tech. Unfortunately, pricing & demand dynamics diminish the value of the automotive business and AI updates continue to disappoint.  Also Read: Tesla Plans Site Scouting In India For New EV Plant: Report The next catalysts would be the unveiling & sale of the next-gen vehicle, which is close from near-term events, as per the analyst. The press release blamed the decline in volumes as partially due to the early phase of the production ramp of the updated Model 3 at its Fremont factory, combined with factory shutdowns resulting from shipping diversions caused by the Red Sea conflict and an arson attack at Gigafactory Berlin.  Still, he insisted on reconciliation of these production-related issues quickly with the quarter’s inventory build. Stein’s data analysis suggests that ASPs fell slightly less than previously expected.  His analysis indicates that many price cuts occurred in the Chinese region. ...Full story available on Benzinga.com

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