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Tesla Stock Gains Over 6% on Better Than Expected Earnings Report



Tesla earnings

Following Tesla‘s better than expected first-quarter financial statement released on Wednesday, the company’s stock price jumped by 6.86%, or US$67.07 on Thursday morning to $1,044.27 a share.

Tesla reported an 81% increase in revenue to $18.76 billion while profit for the quarter rose to $3.3 billion. The impressive report was a result of the increase in Tesla’s car production, delivery and average selling price during the period.

According to Elon Musk, the company’s Chief Executive Officer and co-founder, the company could produce about 1.5 million cars in 2022 despite the Russia-Ukraine war and Chinese lockdown due to COVID-19.

The Chief Executive Officer and the world’s richest man was confident the company would surpass 2021 numbers by at least 50%.

However, Elon Musk’s net worth dropped by $11.88 billion in the last 24 hours to $249 billion, according to the Bloomberg billionaire index. The billionaire’s total net worth has plunged by $21.4 billion from the beginning of the year to date.



Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq,, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Nigerian Exchange Limited

Nigerian Stock Market Shed 0.07% Despite Investors Dumping N1.897 Billion on FBN Holdings



stock - Investors King

The Nigerian Exchange Limited (NGX)  shed 0.07% in value on Wednesday to extend its decline despite investors dumping N1.897 billion shares of FBN Holdings Plc following as announcement it was acquiring Access Bank owned pension company.

Investors exchanged 611,973,850 shares valued at N 7.426 billion in 5,948 transactions during the trading hours of Wednesday. FBN Holdings led the most traded stocks with 153,336,385 shares worth N1,897,131,354.35. This was followed by Jaiz Bank and GTCo as shown in the table below.

Analysis of sectoral performance revealed that the banking index appreciated by 10 basis points on moderate gains in Zenith Bank and Fidelity Bank. Wema Bank dipped by 7.61%.

The consumer goods index also rose by 29 basis points as stocks of Champion, Unilever, PZ, Interbrew and Cadbury grew by 7.03%, 2.74%, 1.89%, 1.24% and 0.85%, respectively.  Honey Flour shed 1.06%.

Also, the oil and gas index expanded its gain by 19 basis points on the back of slight gains in Oando (1.3%) and Seplat (o.o1%). However, the industrial index declined by 19 basis points on an 8.86% decline in BERGER, 4.14% in Cutix  and 2.41% in Wapco.

The market capitalisation of all the listed equities depreciated to N28.423 trillion while the NGX All-Share Index lost 0.07% to close the day at 52,721.34 index points. A total of 21 stocks appreciated during the trading hours of Wednesday while 23 stocks lost points. The year-to-date gain moderated to  23.42%. See the details of top gainers and losers below.

Top Gainers 

Symbols Last Close Current Change %Change
MCNICHOLS N 1.61 N 1.77 0.16 9.94 %
TRANSCOHOT N 4.88 N 5.36 0.48 9.84 %
CHAMPION N 3.70 N 3.96 0.26 7.03 %
CHIPLC N 0.61 N 0.65 0.04 6.56 %
MULTIVERSE N 0.21 N 0.22 0.01 4.76 %

Top Losers 

Symbols Last Close Current Change %Change
ACADEMY N 1.51 N 1.36 -0.15 -9.93 %
BERGER N 7.90 N 7.20 -0.70 -8.86 %
NEIMETH N 1.75 N 1.60 -0.15 -8.57 %
MAYBAKER N 4.70 N 4.30 -0.40 -8.51 %
WEMABANK N 3.55 N 3.28 -0.27 -7.61 %

Top Trades

Symbols Volume Value
FBNH 153336385.00 1897131354.35
JAIZBANK 116641894.00 104480216.46
GTCO 65930061.00 1577428696.70
FCMB 43484514.00 152172006.66
TRANSCORP 40734151.00 57855266.09

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Nigerian Exchange Limited

Equities Market Opens the Week in Red as Market Value Drops N83 Billion



stock bear - Investors King

The Nigerian equities market opens the new week in the red as investors continue to take profit following a N1.2 trillion profit recorded last week.

Investors traded 374,183,929 shares worth N4.964 billion in 6,854 transactions during the trading hours of Monday. Transcorp was the most traded stock with 88,586,250 shares worth N118,991,205.60. Jaiz Bank followed with  87,416,065 shares valued at N77,857,596.57.

Breaking down each sector, the banking index declined by 24 basis points as stocks of Unity Bank, United Bank for Africa, Zenith Bank and Fidelity Bank shed 5.56%, 1.25%, 0.61% and 0.27%, respectively. Gainers include Union Bank and Sterling Bank, both gained 1.55% and 1.32%, respectively.

Similarly, the consumer goods index shed 62bps on a broad-based selloff. Champion lost 9.84%, Interbrew declined by 9.09% and Flour Mills dipped by 1.69%. Cadbury, Unilever, PZ, Honey Flour and Nascon closed in the green.

The industrial index also post a decline as the index dropped 64bps on a 8.28% decline in Wapco.

However, the oil and gas index grew by 60bps on a 4.33% and 0.01% increase in values of Oando and Seplat, respectively.

Market capitalisation of all listed equities depreciated by N83 billion from N28.626 trillion it closed on Friday to N28.543 trillion on Monday. While the Nigerian Exchange Limited (NGX) All-Share Index dipped by 0.29% to 52,944.09 index points.

A total of 27 stocks recorded gains on Monday while 20 stocks closed in the red. See the details of top gainers and losers below.

Top Gainers

Symbols Last Close Current Change %Change
MCNICHOLS N 1.34 N 1.47 0.13 9.70 %
NNFM N 9.95 N 10.90 0.95 9.55 %
TRANSCORP N 1.29 N 1.40 0.11 8.53 %
WAPIC N 0.42 N 0.45 0.03 7.14 %
CHIPLC N 0.57 N 0.61 0.04 7.02 %

Top Losers 

Symbols Last Close Current Change %Change
CHAMPION N 4.37 N 3.94 -0.43 -9.84 %
GLAXOSMITH N 7.90 N 7.15 -0.75 -9.49 %
INTBREW N 8.80 N 8.00 -0.80 -9.09 %
NEIMETH N 1.92 N 1.76 -0.16 -8.33 %
WAPCO N 31.40 N 28.80 -2.60 -8.28 %

Top Trades

Symbols Volume Value
TRANSCORP 88586250.00 118991205.60
JAIZBANK 87416065.00 77857596.57
ACCESSCORP 28751534.00 278563992.70
INTBREW 16211327.00 130237217.50
IKEJAHOTEL 11375705.00 12628074.12


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Nigerian Exchange Limited

MTN Nigeria Surpasses Airtel, Becomes Most Capitalized Stock on NGX

MTN Nigeria Plc topples Airtel Africa, and Dangote Group to emerge as the most valuable listed company in Nigeria



MTN Nigeria and NGX

MTN Nigeria Plc has surpassed its counterpart, Airtel Africa as it becomes the most capitalized stock on the Nigerian Exchange Limited (NGX).

The Telecom giant took the leading spot with a N63 billion margin to close at N5.32 trillion market capitalisation, while Airtel Africa’s market valuation stood at N5.2 trillion.

Prior to this, Airtel was at the top spot in the 1st quarter of the year, with a market value of N4.34 trillion, surpassing MTN Nigeria and Dangote Group.

It was the blooming season for Airtel Africa – the business began trading on the NGX with a market capitalization of N3.94 trillion, increasing by N394.605 billion to close at N4.34 trillion, reordering 10%.

In addition, Airtel’s stock rose to N1155.50 per share, up from N1050.50. Its stock price increased by N105 or 10%.

Recall that Investors King reported the leading companies’ statistics for the year,  giving further insight with the formula table of activities and profits!

MTN Nigeria Plc ended the week on a high note, with its share price rising 15% from N227.50 to N261.60 per share, up from N227.50 the week before. During the week, this raised the company’s market cap by N694 billion.

Investors’ optimistic feelings generated buy-interests in the company’s shares, resulting in a market capitalization increase of N694 billion at the closing of trading on the Nigerian Stock Exchange.

The NGX Premium Board Index, which the company’s shares trade under, rose 3.83 percent this week from 5,097.38 points to 5,292.40 points, owing to the increase in the company’s market capitalization.

MTN N had reported a profit of N97 billion in the first quarter of 2022. This represents a massive 31.28 percent growth over the N74 million in the same period of 2021.

Furthermore, MTN declared a N8.57 kobo reward for FY 2021, which was paid on April 28, 2022, while profitability for the first quarter of 2022 was N4.76, up 31.49 percent from N3.62 in the first period of 2021.

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