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Ryan Nauman's Weekly Recap: COVID-19 Market Edition 07.20.20

Earnings season picks up steam during the week ahead. The week contains earnings releases from companies that have taken the brunt of the COVID-19 crisis, such as United Airlines, American Airlines, and Southwest Airlines. Meanwhile, we also hear from some of the tech companies who benefited from the very poplar “shelter-in-place” and momentum trades, such as Microsoft, Amazon.com, and Snap Inc. With that being said, I most look forward to Tesla’s call, which is typically very eventful. Tesla shares, which have been the poster child of the “momentum trade”, have been on a rocket since March 18 (+316%) and is currently trading at 223 times forward earnings. In order to justify the current price, Tesla needs to release good earnings and a promising forward outlook.

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Ryan Nauman

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