STOCK MARKET REPORT by CEO Silvano Grimaldi of the independent asset management company GRIMALDI & PARTNERS Ltd.

STOCK MARKET REPORT by CEO Silvano Grimaldi of the independent asset management company GRIMALDI & PARTNERS AG

MONTHLY REVIEW

The international stock markets ended the month of APRIL with some significant losses.

DRIVING FACTORS

The fear of a rapid increase in key interest rates in the USA and possibly also soon higher interest rates in the euro zone.
Concerns about a recession in combination with high inflation, the Ukraine war, stressed supply chains and the worsening corona situation in China.
The Covid-related lockdowns in China threaten to exacerbate global supply chain problems and thus further fuel inflationary risks.

EQUITIES IN FOCUS

TESLA survives turbulence and shines with earning power

Tesla has shaken off the turbulence surrounding delivery bottlenecks and rising raw material costs and is setting new standards in the industry with its profitability. The US electric car maker, led by multi-billionaire Elon Musk, boosted its operating margin to 19.2 percent at the start of the year - four and a half percentage points more than in the previous quarter, reaching a level that dwarfs almost all other manufacturers. Only niche manufacturers like some sports car manufacturers can keep up. "Tesla is the world's most profitable carmaker after Ferrari," said auto professor Ferdinand Dudenhöffer. Tesla has achieved this thanks to high productivity, cost reductions and higher prices.

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MONTH OUTLOOK

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STOCK RECOMMENDATION

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