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Exclusive-South Korea's Yoon ready to offer 'tailored' benefits to attract Tesla gigafactory

South Korea will offer "tailored" incentives to encourage Tesla to set up an electric vehicle gigafactory in the country and will minimise any risks posed by militant unions, President Yoon Suk-yeol told Reuters. Yoon held a video call with Tesla Chief Executive Elon Musk last week and Yoon's office cited Musk as saying South Korea is among the top candidate locations for a new Tesla factory.

Yahoo

Exclusive-South Korea's Yoon ready to offer 'tailored' benefits to attract Tesla gigafactory By Soyoung Kim and Jack Kim SEOUL (Reuters) - South Korea will offer "tailored" incentives to encourage Tesla to set up an electric vehicle gigafactory in the country and will minimise any risks posed by militant unions, President Yoon Suk-yeol told Reuters. Yoon held a video call with Tesla Chief Executive Elon Musk last week and Yoon's office cited Musk as saying South Korea is among the top candidate locations for a new Tesla factory. "If Tesla, Space X or other companies are considering more investment in Korea including constructing a gigafactory, the government will do our best to support the investment," Yoon told Reuters during a broader interview in his office on Monday. Yoon said South Korea offers highly skilled workers and his government would ensure regulations align with international standards so that foreign firms do not face unexpected financial or regulatory hurdles. "We are preparing a tailored approach to grant some advantages to these specified companies," Yoon said through an interpreter, when asked about what advantage South Korean can offer to Tesla over other locations being mentioned. Tesla has said it would consider building another gigafactory. Canada, Indonesia, India and Thailand have also been mentioned in media reports as possible locations, but analysts noted that those countries do not have the kind of automotive supply chain that South Korea does, although some are abundant in natural resources like nickel. Yoon credited his government's tough response to labour union strikes this year for starting the process of establishing a rule of law in industrial relations for both management and labour. Yoon's government is taking steps to use an administrative order to force unionised truckers to go back to work after talks aimed at ending their strike ended on Monday without an agreement. About 9,600 truckers have joined the strike organised by the truckers' union, demanding a permanent guarantee of a minimum freight rate to protect against rising and unpredictable fuel costs and overwork. "The militant union culture is a serious problem in South Korean society," Yoon said. He said he told Musk the goal of his labour policy is to establish the rule of law to eliminate the risks of unfair labour practices. South Korea saw an average of 39 days of work stoppage annually due to labour disputes over the past 10 years, nearly five times higher than that of the United States' eight days and nearly 200 times higher than Japan's 0.2 days, according to the Korea Enterprises Federation. Yoon blamed frequent compromises made by previous governments with powerful labour unions for creating a vicious cycle of illegal strikes leading to more severe strikes and unlawful action by labour unions. (Reporting by Jack Kim, Soyoung Kim, Josh Smith, Heekyong Yang and Joyce Lee; Editing by Susan Fenton)

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Elon Musk Declares War on Apple

The dispute between the world's richest man and the world's biggest corporation spills into the open.

Yahoo

TheStreet.comElon Musk Declares War on AppleNovember 28, 2022 at 2:46 PM·5 min readElon Musk Declares War on AppleThe dispute between the world's richest man and the world's biggest corporation spills into the open.Continue reading

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Warren Buffett Gains Ground as Elon Musk Stumbles

Warren Buffett's net worth has risen by over a billion dollars so far in 2022, a performance that far outpaces many tech giant CEOs such as Elon Musk and Jeff Bezos. Buffett's net worth had risen to $110 billion as of Nov. 28, according to the Bloomberg Billionaires Index. The gain, in a brutal year for stocks, has helped Buffett close the gap with Musk, the world's richest man, who is now running Twitter and electric vehicle manufacturer Tesla .

Yahoo

Warren Buffett Gains Ground as Elon Musk Stumbles Warren Buffett's net worth has risen by over a billion dollars so far in 2022, a performance that far outpaces many tech giant CEOs such as Elon Musk and Jeff Bezos. Buffett's net worth had risen to $110 billion as of Nov. 28, according to the Bloomberg Billionaires Index. The gain, in a brutal year for stocks, has helped Buffett close the gap with Musk, the world's richest man, who is now running Twitter and electric vehicle manufacturer Tesla .

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Tesla project ‘Highland’ to bring changes to Model 3, Chevrolet unveils EV sports sedan

Yahoo Finance autos reporter Pras Subramanian details Tesla's newest update to its Model 3 and Chevrolet FNR-XE new EV sports sedan.

Yahoo

Tesla project ‘Highland’ to bring changes to Model 3, Chevrolet unveils EV sports sedan Yahoo Finance autos reporter Pras Subramanian details Tesla's newest update to its Model 3 and Chevrolet FNR-XE new EV sports sedan. Video Transcript JARED BLIKRE: Tesla is developing a new version of the Model 3 according to a new report codenamed Highland. The redesign is rumored to bring a number of changes to the electric sedan. Yahoo Finance senior autos reporter Pras Subramanian has more, Pras. PRAS SUBRAMANIAN: Yeah, Jared, this is a kind of a much needed update for the Tesla Model 3, which has surprisingly been out since 2017 without an area and update. We've probably seen a couple of things under the skin but nothing major. What Reuters is reporting is that Tesla is going to probably update the exterior styling, potentially the powertrain and battery and likely that touchscreen display that's very popular with customers. And it sort of sets the car apart with the kind of minimalist and digital sort of cockpit there. One of the things that Tesla will do is reduce costs of building the car by reducing complexity and also using larger cast moldings that we've seen them use in the Model Y, for instance, to kind of reduce number of parts. So you know, Reuters also says that this car might come out in 2023 of Q3, pricing that first in China and then eventually potentially at Fremont here in the United States. DAVID HOLLERITH: Interesting. And Pras, Chevy unveiled another EV. What can you tell us about it? PRAS SUBRAMANIAN: Well, this one is going to be in China, Dave. It's the Chevy FNR-XE. It's funny because GM does not have an EV sedan in the States, or one coming as far as we know. But they're going to do it in China because in China, apparently the sedan sort of body type is still very popular there amongst the people there. It's very sharp-looking car. You can see there both literally and sort of figuratively, right, so really kind of sort of the new design language of Chevy EVs potentially here, looking at this with the FNR-XE. No specs yet, but reports in China suggest it'll come out probably next year. And this is big because 2023 is a big year for GM with regard to this EV onslaught with stuff like the Equinox, the Chevy Silverado EV, and also the Blazer as well. JARED BLIKRE: All right, got to leave it there. Pras Subramanian, thanks as always for that report.

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Elon Musk goes to war with Apple over App Store fees, moderation

Elon Musk has taken to Twitter to accuse Apple of suppressing free speech and criticize its 30% App Store fees.

Yahoo

Elon Musk goes to war with Apple over App Store fees, moderation Elon Musk is going to war with Apple (AAPL). The Tesla (TSLA) CEO and new head of Twitter took to his social media platform on Monday to call out the iPhone maker for pulling back on advertising on the site and called out Apple for its 30% App Store fees. In a series of tweets, Musk accused Apple of suppressing speech by requiring apps in its store to abide by certain content standards and questioned whether or not the company hates free speech in America. In one tweet, Musk specifically tagged Apple CEO Tim Cook’s Twitter account. According to Musk, Apple has stopped most of its advertising on Twitter. If true, Apple wouldn’t necessarily be alone in choosing to pull back ads on Twitter. Companies ranging from GM and VW to General Mills and Eli Lilly have either slowed ad spending on the platform or stopped advertising on the social network entirely in the weeks since Musk’s chaotic takeover. Apple has mostly stopped advertising on Twitter. Do they hate free speech in America? — Elon Musk (@elonmusk) November 28, 2022 Musk also responded to a tweet by The Verge’s deputy editor Jake Kastrenakes saying that Apple is threatening to remove Twitter from the App Store if it doesn’t abide by the tech giant’s moderation demands. It’s not unheard of for Apple to pull apps from the App Store, either. In 2021, the company suspended the Parler app for not moderating user content including what it said at the time were threats of violence. Apple eventually reinstated the app after Parler agreed to better moderate content. The mercurial Musk went on to claim that Apple puts a “secret 30% tax” on items consumers purchase through the App Store. Apple’s App Store fee policy has been public knowledge for years. It was also the subject of an antitrust suit Epic filed against Apple in 2021. Musk’s stab at Apple’s App Store fees comes as he attempts to pivot the company away from relying heavily on advertising and more toward subscription services. Of Twitter’s $5.1 billion in total 2021 revenue, $4.5 billion came from advertising. Did you know Apple puts a secret 30% tax on everything you buy through their App Store? https://t.co/LGkPZ4EYcz — Elon Musk (@elonmusk) November 28, 2022 Musk has already attempted to change to a subscription model by revamping Twitter Blue, which allowed users to purchase verification badges. But that blew up when trolls bought badges to masquerade as companies and celebrities ranging from Lebron James to Nestlé. If, however, Musk could get his subscription plans off the ground, he’d run headlong into Apple’s 30% fee. In other words, Musk would end up having to fork over 30% of every subscription purchase customers made via the App Store to Apple. Apple isn’t the first company Musk has tangled with since purchasing Twitter for $44 billion in October. According to the Financial Times, he reached out to a number of advertisers and criticized them for cutting back on their ads on the social network. Musk’s attacks on Apple are a dangerous move, as well. Twitter needs Apple to ensure that its services are available to the hardware maker’s more than 1 billion active iOS devices. Without Apple, Twitter would suffer a significant setback in terms of available users. For now, Musk’s feud appears to be rather one-sided. And there’s no telling if it will continue to escalate or simply die out. But from the looks of one tweet in which he used an image to imply he is going to war with the company, this likely isn’t the last we’ve heard in this dust up. Yahoo Finance reached out to Apple for comment and will update this article if it responds. Sign up for Yahoo Finance's Tech newsletter More from Dan Apple stock slides ahead of holidays amid protests in China and supply chain crunch Got a tip? Email Daniel Howley at dhowley@yahoofinance.com. Follow him on Twitter at @DanielHowley. Click here for the latest technology business news, reviews, and useful articles on tech and gadgets Read the latest financial and business news from Yahoo Finance

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Tesla roundup: Model 3 'Highland,' Semi truck milestone, FSD goes wide

Tesla stock is on the rise in early trade despite a broader market selloff and general weakness in the stock lately. Here’s what’s moving Tesla today.

Yahoo

Tesla roundup: Model 3 'Highland,' Semi truck milestone, FSD goes wide Tesla (TSLA) stock is on the rise in early trade despite a broader market selloff, and general weakness in the stock lately. Here’s what’s moving Tesla today: Updated Model 3 on the way? According to reports from Reuters, Tesla is in the process of updating its Model 3 sedan, which first came out back in 2017. Codenamed project “Highland,” Tesla is aiming to cut production costs for the Model 3 and increase the appeal of the sedan by revamping the car's exterior, powertrain, and interior components, such as its massive center-console display. Tesla would reduce costs by reducing complexity overall. Though the Model 3 has been periodically updated with under-the-skin enhancements to mechanical components and battery materials, this would be the first major revamp of the car, if it does go through. Premium Tesla models like the Model S and Model Y have been revamped with exterior styling, new touchscreen tablets, and yoke steering wheels. Per Reuters, the redesigned Model 3 would go into production in Q3 2023 first at Tesla’s Giga Shanghai factory, then eventually at its main U.S. plant in Fremont, CA. Tesla Semi conducts crucial test With all eyes on Tesla’s biggest EV, the Tesla Semi, this week at its first delivery event at Giga Nevada, CEO Elon Musk confirmed the truck hit a big milestone. In a tweet, Tesla Musk said the Semi completed a 500-mile drive with a full payload of 81,000 lbs. The Tesla Semi is an all-electric Class 8 commercial tractor trailer, and the federally-allowed limit for Class 8 trucks is 80,000 total pounds of gross vehicle weight. Based on Musk’s tweet, it is assumed that the Tesla Semi completed this 500-mile drive on one full charge, but this could not be confirmed. It is also not clear how much of the 81,000 lbs consisted of the Semi itself and its battery weight. Nonetheless, it is a milestone for the Tesla Semi, which also debuted in 2017, and was supposed to go into production in 2019 but has subsequently suffered numerous delays. Tesla will unveil the production version of the Semi at a delivery event this Thursday from Giga Nevada. Pepsi, Tesla’s first customer, confirmed with Yahoo Finance that its executives will be at the event. Media and the general public are not allowed at the event, though it will be streamed on Tesla’s YouTube channel. Tesla full-self driving goes wide In a tweet late last week, Musk confirmed that Tesla’s full-self driving (FSD) beta software has been made available to anyone in North America. The option for the FSD beta system is only available for those that purchased the option, currently costing $15,000. FSD is an enhanced version of Tesla’s “autopilot” driver assistance system, which brings features like automated steering on non-highway roads, traffic light and signage recognition, parking assist and vehicle “summoning” from tight spaces. The rollout of FSD beta comes at a time of increased scrutiny from the federal government. Along with the National Highway Traffic Safety Administration's investigation into multiple crashes of Tesla cars involving autopilot systems when coming upon accident scenes with first responders, the Department of Justice is reportedly conducting a criminal probe into whether Tesla knowingly made false claims over its automated driver systems like Autopilot and FSD. — Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram. Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

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Tesla Inc. stock rises Monday, outperforms market

Shares of Tesla Inc. inched 0.03% higher to $182.92 Monday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ...

MarketWatch

Shares of Tesla Inc. TSLA, +0.07% inched 0.03% higher to $182.92 Monday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index COMP, +0.55% falling 1.58% to 11,049.50 and Dow Jones Industrial Average DJIA, +0.93% falling 1.45% to 33,849.46. Tesla Inc. closed $219.75 short of its 52-week high ($402.67), which the company achieved on January 4th. Trading volume (92.4 M) eclipsed its 50-day average volume of 81.2 M. Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use.

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Exclusive-Tesla readies revamped Model 3 with project 'Highland' -sources

Tesla is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year-old electric sedan.

Reuters

Exclusive: Tesla readies revamped Model 3 with project 'Highland' -sources Nov 28 (Reuters) - Tesla (TSLA.O) is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year-old electric sedan. One focus of the redesign codenamed "Highland" is to reduce the number of components and complexity in the interior of the Model 3 while focusing on features that Tesla buyers value, including the display, according to the people, who asked not to be named because the revamp has not been announced. The previously unreported redesign comes as the electric sedan faces increased competition from models from the likes of China's BYD (002594.SZ), Hyundai (005380.KS) and coming releases from other major automakers. The revamp of the battery-powered sedan, which could also include some changes to the Model 3’s exterior and powertrain performance, will go into production at Tesla’s factory in Shanghai and the company’s Fremont, California plant, two of the people said. Tesla’s Shanghai Gigafactory will put the redesigned Model 3 into production in the third quarter of 2023, they said. It was not clear when production would start at the Fremont plant or how large a cost savings Tesla would achieve from the redesign as it works with suppliers. The effort spotlights an approach to vehicle development pioneered by Tesla and now being copied by other automakers, including Toyota Motor (7203.T), that removes complexity – and cost – in production. It is also an example of a key project at Tesla that has rolled ahead even as Chief Executive Elon Musk has focused on his troubled acquisition of Twitter in recent months, an area of concern for Tesla investors. Tesla did not respond to a written request for comment from Reuters. CHANGE YOU CAN SEE The redesign for the Model 3 builds on the revamp of the Model S -- Tesla’s premium EV sedan -- that was released last year. That redesign added an airplane-style yoke in place of a traditional steering wheel and removed buttons and traditional air vents as part of a minimalist interior where the centerpiece is a 17-inch electronic display. The Model 3, Tesla’s cheapest EV starting at just under $47,000 in the United States, had been the automaker’s best-seller but is being overtaken by the Model Y crossover. With only four models in production, styling changes to any part of Tesla’s lineup carry an outsized importance compared to established automakers. Ed Kim, president of AutoPacific Group, which tracks market trends and production, said the current Model 3 has already been updated from the version that first went on sale in 2017 because of the way Tesla updates battery performance, information and entertainment options through software, even if it still looks the same. “Having said that, consumers still tend to equate visual changes with newness,” he said. “Tesla knows visually tangible changes are in order.” “The upcoming changes that potential customers can see and feel will be very important in ensuring that EV customers still have Tesla at the top of their minds as truly excellent alternatives to Tesla are starting to flood the market,” he said. KEEP IT SIMPLE Musk has pushed a simplified approach to design and production at Tesla that the Highland project extends, said the people with knowledge of the development. Tesla has pioneered the use of massive casting machines known as Giga Press and built by IDRA Group in Italy to make single, larger pieces of a vehicle in assembly, reducing cost and speeding production. It has also designed a structural battery pack that does away with more expensive modules. Musk has said Tesla is looking to drive costs down through simplification and working on a small-car platform that would be half the cost of the Model 3. "Over and over, we found parts that are not needed. They were put in there just in case or by mistake. We eliminated so many parts from a car that did nothing," Musk said in an interview at a Baron Funds conference earlier in the month. The approach is part of what has made Tesla the most profitable electric vehicle maker while many rivals are still running at a loss. In the third quarter, Tesla made a profit of just over $9,500 for every car sold, compared to roughly $1,300 for Toyota, according to disclosures by both companies. The revamp of the Model 3 comes at a time when sales in China, its second-largest market after the United States, are under pressure. Sales for the Model 3 in China fell 9% in the first ten months from a year earlier, while BYD's Qin and Han electric sedans outsold the Model 3, according to China Passenger Car Association. To boost sales, Tesla cut prices for Model 3 and Model Y in China by as much as 9% in October and offered an additional rebate for buyers who took immediate delivery. Sam Fiorani, who tracks Tesla and industry-wide production at Auto Forecast Solutions, said the upcoming changes to the Model 3, which he understood were coming, showed the power of Tesla’s approach in taking out complexity. “They are always looking for ways to make EVs profitable, and more profitable,” he said. Our Standards: The Thomson Reuters Trust Principles.

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Tesla Model Y prices vary by country, cheapest in mainland China

Yahoo Finance Live anchors discuss Tesla’s Model Y prices worldwide.

Yahoo

Tesla Model Y prices vary by country, cheapest in mainland China Yahoo Finance Live anchors discuss Tesla’s Model Y prices worldwide. Video Transcript [AUDIO LOGO] - Staying all things Musk, Tesla's Model Y is speeding towards the top five best selling models this year, but the price for the EV varies dramatically by country. Mainland China offers the cheapest option at just over $40,000 and Singapore checks in at over $103,000, making it the most expensive. Wow, that's a pretty big difference. Those in Singapore, really paying a lot for, what? It's essentially the same car. It's the same car, right? - I think so. - Well, does it depend at all on the option that you get? Is this all base Model? - Yeah. - Model Y? - I think so. - Wow. OK, well, yeah. That's-- [INTERPOSING VOICES] - Well, I mean, they're making them in China, so it makes sense that it would be cheaper where you're making it as opposed to I think the import taxes in Singapore are probably substantial. I don't know. Reuters is also reporting that the Model 3 is going to get some kind of revamp, maybe even to cut some costs to make that. So that could be quite interesting too. - There's already a lot of costs out of these cars. I mean, you just walk around and you see the interiors. I mean, Tesla has long been criticized for the fit and finishes on its cars. What else can they possibly take out? - Well, all the synergies that they had touted when they brought on line the Model Y production was that 75% of the Model Y is actually just the Model 3. So much of it goes down the same line as well. - Yeah. All right--

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Elon Musk claims Apple has threatened to remove the Twitter app

Musk even tweeted out a meme that suggested he was "going to war" with Apple over paying 30%.

CNBC

- Twitter owner Elon Musk claimed on Monday in a series of tweets that Apple had threatened to remove the Twitter app from the App Store as part of its app review moderation process. - "Apple has also threatened to withhold Twitter from its App Store, but won't tell us why," Musk tweeted. Twitter owner Elon Musk claimed on Monday in a series of tweets that Apple had threatened to remove the Twitter app from the App Store as part of its app review moderation process. "Apple has also threatened to withhold Twitter from its App Store, but won't tell us why," Musk tweeted. In other tweets fired off on Monday morning, he called Apple's App Store fees a "secret 30% tax," and ran a poll asking if "Apple should publish all censorship actions it has taken that affect its customers." He also claimed that Apple has pulled most of its advertising from Twitter. Apple's App Store is the only way to distribute software to iPhones. If the Twitter app were pulled, the social network would lose one of its main distribution platforms, although the service is available for the web. In addition, Apple requires iPhone app makers to pay between 15% and 30% of any digital goods sold through their apps. Musk has said one of his plans for Twitter is to raise billions of dollars from subscriptions, such as Twitter Blue, which is offered through the iPhone app. If it were to grow to Musk's goals, Apple would collect hundreds of millions of dollars in the process. Apple has faced challenges to its App Store fees and policies from companies such as Spotify and Epic Games, but Musk is no stranger to attracting worldwide attention, and may represent Apple's biggest challenge to its control over iPhone app distribution so far. Apple declined to comment about Musk's tweets. But there are signs that Apple is watching the social network closely to see if it violates any App Store policies. Representatives for unnamed app stores, which include Apple's App Store as well as Google Play for Android devices, reached out to Twitter earlier this month after Musk took over and the site saw a wave of hate speech, according to a New York Times op-ed by Yoel Roth, Twitter's former head of trust and safety. Phil Schiller, Apple's former chief marketer who oversees App Review, apparently deleted his Twitter account earlier this month after Musk took over. Phillip Shoemaker, the former head of Apple's app review and current CEO of Identity.com, said Schiller's move to delete his account reminded him of a company making moves to "prepare for war." He believes that Apple's app review department is keeping a close eye on Twitter's content moderation under Musk to see if more questionable content, such as porn, slips through. Apple's recent moves are "like when you remove troops from a country before you attack," Shoemaker said. "You're thinking you're going to have to pull these apps from the store." Where Twitter might fall afoul of Apple's rules There are two primary reasons why Apple's App Store might take a closer look at Twitter under its public guidelines: - Apple requires apps with user-generated content such as Twitter to have strong content moderation systems in place. Insufficient content moderation was the reason why Apple booted Parler, a smaller Twitter competitor, in 2020. Musk has reportedly vastly downsized Twitter's content moderation workforce. - Apple requires apps to pay fees between 30% and 15% for digital purchases. When Epic Games put in a system to get around Apple's cut, Apple removed it. If Twitter were to pull a similar move, it might force Apple's hand. There are also other reasons why Twitter might fall afoul of Apple's rules, including its insistence that adult content not be discoverable by default. Twitter remains one of the most prominent social networks that allows adult content, opening up gray areas for App Store delays or issues. Apple's App Store uses employees to review each app and update that goes on the platform. The app reviewers often send short responses highlighting issues without being explicit about what apps need to do to pass, CNBC previously reported. Musk has tweaked Apple for years, and seems to enjoy doing so. He has complained about Apple's app store fees in the past, although the Tesla app doesn't allow in-app purchases. He has also sparred with Apple's purported plan to build electric cars, although Apple's secretive project has never shipped a car. In 2015, Musk teased Apple saying that it only hires rejected Tesla employees and that he calls Apple the "Tesla Graveyard." But Musk's moves on Monday go beyond teasing and rivalry, and suggest that he may be prepared to fight a lengthy public relations battle over Apple's rules. In one tweet, he posted a meme in which a car veers off the highway under a road sign offering two choices: "Pay 30%" and "Go to war." The car was choosing the latter option. Correction: A previous version of this story misspelled Phillip Shoemaker's name.

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11% Of S&P 500 Stocks (Like Tesla) Suffer Their Worst Year Ever

Tesla isn't the only stock that's struggling in 2022. Nearly 60 S&P 500 stocks — or about 11% — are having their worst year ever.

Yahoo

11% Of S&P 500 Stocks (Like Tesla) Suffer Their Worst Year Ever Tesla isn't the only stock that's struggling in 2022. Nearly 60 S&P 500 stocks — or about 11% — are having their worst year ever. Tesla isn't the only stock that's struggling in 2022. Nearly 60 S&P 500 stocks — or about 11% — are having their worst year ever.

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Dow Jones Falls As China Covid Protests Spread; Oil Prices Hit 2022 Low

The Dow Jones Industrial Average fell Monday, as protests spread in China due to President Xi Jinping's zero-tolerance approach to Covid-19.

Yahoo

Dow Jones Falls As China Covid Protests Spread; Oil Prices Hit 2022 Low The Dow Jones Industrial Average fell Monday, as protests spread in China due to President Xi Jinping's zero-tolerance approach to Covid-19. The Dow Jones Industrial Average fell Monday, as protests spread in China due to President Xi Jinping's zero-tolerance approach to Covid-19.

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Investors Heavily Search Tesla, Inc. (TSLA): Here is What You Need to Know

Zacks.com users have recently been watching Tesla (TSLA) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

Yahoo

Investors Heavily Search Tesla, Inc. (TSLA): Here is What You Need to Know Tesla (TSLA) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Shares of this electric car maker have returned -20% over the past month versus the Zacks S&P 500 composite's +4.5% change. The Zacks Automotive - Domestic industry, to which Tesla belongs, has lost 12.8% over this period. Now the key question is: Where could the stock be headed in the near term? Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision. Earnings Estimate Revisions Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. For the current quarter, Tesla is expected to post earnings of $1.20 per share, indicating a change of +41.2% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days. For the current fiscal year, the consensus earnings estimate of $4.05 points to a change of +79.2% from the prior year. Over the last 30 days, this estimate has remained unchanged. For the next fiscal year, the consensus earnings estimate of $5.29 indicates a change of +30.5% from what Tesla is expected to report a year ago. Over the past month, the estimate has remained unchanged. With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Tesla. The chart below shows the evolution of the company's forward 12-month consensus EPS estimate: 12 Month EPS Revenue Growth Forecast While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth. In the case of Tesla, the consensus sales estimate of $25.54 billion for the current quarter points to a year-over-year change of +44.2%. The $82.9 billion and $115.11 billion estimates for the current and next fiscal years indicate changes of +54% and +38.9%, respectively. Last Reported Results and Surprise History Tesla reported revenues of $21.45 billion in the last reported quarter, representing a year-over-year change of +56%. EPS of $1.05 for the same period compares with $0.62 a year ago. Compared to the Zacks Consensus Estimate of $22.32 billion, the reported revenues represent a surprise of -3.89%. The EPS surprise was +10.53%. The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates two times over this period. Valuation No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance. Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is. As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued. Tesla is graded D on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade. Bottom Line The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Tesla. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here.

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Where Will Tesla Stock Be In 5 Years?

Tesla's shares have performed poorly in the past month, as its lower-than-expected Q3 automotive gross margin disappointed. See the forecast for TSLA here.

SeekingAlpha

Where Will Tesla Stock Be In 5 Years? Summary - Tesla's shares have performed poorly in the past month or so, as its lower-than-expected Q3 2022 automotive gross margin disappointed the market. - TSLA's near-term outlook remains mixed, as I expect an improvement in Tesla's automotive gross margin in subsequent quarters to be offset by weaker-than-expected deliveries. - In the next 5 years, Tesla will continue to be a fast grower in terms of the expected CAGRs for its top line, net profit, and free cash flow. - I raise my rating for TSLA from a Hold to a Buy, as its valuations have gotten more attractive and have yet to factor in the company's positive 5-year outlook in my opinion. - Looking for more investing ideas like this one? Get them exclusively at Asia Value & Moat Stocks. Learn More » Elevator Pitch I have a Buy investment rating for Tesla, Inc.'s (NASDAQ:TSLA) shares. I previously discussed TSLA's stock split and target price changes with my prior September 7, 2022 update for the company. In that article, I determined that "the implied upside (+13%) for TSLA's shares as per the consensus price target isn't very attractive" at that point in time. However, Tesla's shares have dropped by a substantial 33% following the publication of my earlier write-up, and this has prompted me to provide an update of my thoughts on Tesla with this latest article. Specifically, I focus on Tesla's near-term stock price underperformance, its five-year or medium term growth prospects, and the stock's valuation in the current write-up. TSLA's shares have underperformed in the past month or so. However, if one looks beyond the near-term headwinds, Tesla is expected to stay as a fast growing company in the coming five years based on the future CAGRs for its key financial metrics. Also, Tesla's valuations have returned to reasonably appealing levels considering its forward P/E multiple of 33.8 times now. After comparing TSLA's five-year outlook with its current valuations, I choose to upgrade my investment rating on TSLA from a Hold previously to a Buy now. TSLA Stock Key Metrics Tesla's recent share price performance has been poor in both absolute and relative terms. Since the company reported its Q3 2022 financial results on October 19, 2022 after trading hours, TSLA's stock price has fallen by -17.7%. In the same time frame, the broader stock market as represented by the S&P 500 rose by +9.0%. TSLA's key headline metric, Q3 2022 earnings per share or EPS of $1.05 came in +5% above the sell-side analysts' consensus forecast of $1.00. But the company's above-expectations third quarter bottom line was not the key metric that investors focused on, as seen with Tesla's stock price performance following its results announcement. Instead, Tesla's automotive gross profit margin was the metric that really mattered for investors. Adjusting for Zero Emission Vehicle or ZEV credits, the non-GAAP adjusted automotive gross profit margin for TSLA contracted by -200 basis points from 28.8% in Q3 2021 to 26.8% for Q3 2022. Tesla's actual third quarter non-GAAP adjusted gross margin also turned out to be -0.6 percentage points lower than the analysts' consensus gross margin estimate of 27.4% based on data obtained from S&P Capital IQ. Looking at TSLA's stock price performance since the earning's announcement, it is very clear that the company's third quarter automotive gross margin was a major disappointment for investors. What Are Catalysts To Watch For? The two near-term catalysts that investors will be watching out for are stronger-than-expected vehicle demand as indicated by deliveries, and better-than-expected profitability at the gross margin level. Tesla's stock has performed poorly in the last month or so. One major factor is TSLA's lower-than-expected automotive gross margin, which I highlighted in the preceding section. The other significant factor is the market's concerns about the company's ability to maintain a healthy pace of vehicle sales in a challenging economic environment. The company acknowledged at its most recent Q3 2022 earnings briefing that the Chinese and European economies are under pressure. In the next section, I analyze if it is likely that Tesla can realize both of the above-mentioned catalysts in the short term. What Is The Short-Term Prediction? My prediction is that Tesla's performance will be mixed in the short term, with a recovery in the company's automotive gross margin being negated by lower-than-expected vehicle deliveries. On the negative side of things, TSLA's vehicle deliveries in the upcoming quarters might come in below expectations. Tesla mentioned at its most recent quarterly investors call that the company's 2022 vehicle deliveries are expected to come in "just under 50% growth due to an increase in the cars in transit" as a result of "limits on outbound logistics capacity which we didn’t anticipate." Apart from issues relating to logistics, other factors such as weak consumer demand in view of poor economic growth, and consumers holding off new purchases in anticipation of potential tax credits for 2023 are likely to result in weaker-than-expected vehicle deliveries for Tesla in Q4 2022. On the positive side of things, I expect Tesla's automotive gross margin to improve in the fourth quarter of 2022 and beyond. One key thing to note is that the Q3 2022 automotive gross margin for TSLA was hurt by "Austin and Berlin ramp costs" as per management's comments at the third quarter results briefing. It is noteworthy that Tesla guided that "the impact" of "Austin and Berlin ramp costs" going forward will be "less than what we saw in Q3." Also, one should have seen the worst of inflationary cost pressures again, and it is reasonable to take the view that raw material expenses should trend lower in the future. Nevertheless, I think it is important for investors considering a potential investment in Tesla to look beyond the near term. I write about Tesla's intermediate term or five-year outlook in the next section. Where Will Tesla Stock Be In 5 Years? In the next five years, Tesla is expected to continue delivering strong growth across all of its key financial metrics. As per consensus data sourced from S&P Capital IQ, analysts estimate that TSLA's top line will grow by a +30% CAGR from $53.8 billion in fiscal 2021 to $201.7 billion for FY 2026. Over the same period, Tesla's normalized net income and free cash flow are projected to increase by CAGRs of +29% and +45% to $26.8 billion and $32.5 billion, respectively according to the sell-side's forecasts. TSLA also stressed at its recent Q3 2022 earnings call that the company will continue to "grow our vehicle production, sales deliveries by" a CAGR of +50% or higher in the long run. There are a number of factors supporting the positive five-year and mid-term financial outlook for TSLA. Firstly, the penetration rate of electric vehicles might increase at a much faster pace than what the market is currently expecting. A September 14, 2022 research report (not publicly available) titled "Demand For EVs Outpacing Supply" published by Needham & Company highlighted that "the majority of automakers" are "targeting 100% of sales weighted to EVs by 2030 or 2035", while it noted that various industry forecasts point to US EV penetration rate only hitting the mid-40s to mid-50s percentage range by 2030. In other words, analysts might be overly cautious in relation to their estimates of the expected penetration rate of EVs in the future, and there could be positive surprises ahead which will benefit the market leader, Tesla. Secondly, Tesla's future top line expansion isn't just about executing on more one-off vehicle sales. It is worthy of note that revenue derived from TSLA's Services And Other segment surged by +84.0% YoY from $894 million in the third quarter of 2021 to $1,645 million in the most recent quarter. Looking forward, supercharging revenue (key contributor for the Services And Other segment) is an area which holds significant growth potential. According to a Goldman Sachs (GS) research report (not publicly available) titled "Opening The Supercharger Network" issued on June 29, 2022, analysts from GS estimate that "the incremental (supercharging) revenue opportunity could be $1-$3 bn in a few years", if TSLA does "open up the (Supercharger) network to all EV drivers." Thirdly, Tesla's future earnings per share or bottom line can grow as fast, if not even faster than its revenue, considering the positive effects of operating leverage and potential shareholder capital return. In the third quarter of 2022, TSLA's operating costs increased by a mere +2.3% YoY as compared to a +55.9% jump in the company's revenue in YoY terms. This is a good illustration of how Tesla benefits from positive operating leverage. Separately, Tesla's future EPS growth can be boosted by share repurchases. TSLA emphasized at its Q3 2022 results call that it can "do a buyback on the order of $5 billion to $10 billion, even in the downside scenario next year." Is TSLA Stock A Buy, Sell, Or Hold? TSLA's shares are now rated as a Buy. Tesla's consensus forward next twelve months' normalized P/E multiple has derated to 33.8 times now as per S&P Capital IQ data, and this is just 9% above TSLA's three-year trough P/E ratio of 31.0 times. I think that Tesla's current P/E metric is reasonably attractive as compared to the company's five-year forward financial outlook, and this makes TSLA a Buy in my opinion. Asia Value & Moat Stocks is a research service for value investors seeking Asia-listed stocks with a huge gap between price and intrinsic value, leaning towards deep value balance sheet bargains (i.e. buying assets at a discount e.g. net cash stocks, net-nets, low P/B stocks, sum-of-the-parts discounts) and wide moat stocks (i.e. buying earnings power at a discount in great companies like "Magic Formula" stocks, high-quality businesses, hidden champions and wide moat compounders). Sign up here to get started today! This article was written by Those who believe that the pendulum will move in one direction forever or reside at an extreme forever eventually will lose huge sums. Those who understand the pendulum's behavior can benefit enormously. ~ Howard Marks Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comments (178) Besides that, $200bn revenue in 2026? The worldwide EV market will be valued around $400-600bn in 2028 while the market share of Tesla in the BEV sector worldwide is around 16% (and down from 26% in 2020). So you believe Tesla will nearly double its market share in the next years while every car company starts to manufacture some kind of electric vehicle? Even in its home country their market share in the BEV space is rapidly declining. In 2020 they had 80% market share in the US and in 2022 that is down to 65% while some analysts think their share will decline to 20% (like worldwide) in the next years when more and more EV cars come online. In the end you pay 2.5x some hugely optimistic revenue in 2025 while all other legacy car makers are valued at around 1x sales today. Don't see a great stock here... A few years ago, I heard about efforts underway to mine those underwater minerals. There were legal issues being ironed out, even specialized mining equipment being engineered and built. But I haven't heard anything since. Have you? Tell it like it is, my behind. You mischaracterized about everything. "How Often Do Tesla's Batteries Fail? How About Tesla's Motors?" Why don't you just say what the article says: "Tesla's batteries and motors can certainly fail, but it doesn't likely happen as often as some people think." Should be United States of Hypocrisy Glad I Don’t live there. "We don't even know where Musk will be in 2023." We know close enough. I agree with most of what you say. And though I don't like this whole Twitter debacle, I think you're being way too hard on Elon. I mean really, mental illness? Come on. "These things are predictable but 5 years NOT" Again, don't put your limitations on me. I look back 5 years ago at what I predicted about Tesla. I was right. "Show us...link your quote in 2017." No. You'll just have to take my word for it. I didn't predict the details you mention. But I sure did predict Tesla's success.Just to parse some of what you said:"you predicted that TSLA would be favored with the luck of having supplies" Luck had nothing to do with it."Elon Musk's lies" Elon doesn't lie. He may get timelines wrong. He may change his mind. But he doesn't lie. He's honest to a fault."And that the Pandemic led to ZERO POINT ZERO % interst rates for 2 years which made GROWTH STOCKS" It's the pandemic that led to inflation, rising interest rates and wrecked supply lines, and the ensuing decline of growth stocks. Here is a little education for you: Growth stocks decline during times of tightening money supply because growth companies depend on credit markets to finance their growth. Tesla has no such dependence. They are self-funding. All these various macro-factors hindering Tesla stock will dissipate, leaving TSLA spring-loaded to rise in spectacular fashion. Mark that as my prediction. You're welcome to come back in five years to admit I'm right. None of that is true. China is facing a poor economy, hence declining demand at this moment. But take a look at China production and sales so far for the quarter. Another record-breaking quarter. The good thing is that Tesla has plenty of automotive profit margin in China. They can lower their prices to increase demand and still make a strong profit, unlike ANYONE else. Global demand if off the roof. That's what counts. Not that I expect you to give credit where credit is due.

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Exclusive-Tesla readies revamped Model 3 with project 'Highland'

Tesla is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year-old electric sedan.

Yahoo

Exclusive-Tesla readies revamped Model 3 with project 'Highland' (Reuters) - Tesla is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year-old electric sedan. One focus of the redesign codenamed "Highland" is to reduce the number of components and complexity in the interior of the Model 3 while focusing on features that Tesla buyers value, including the display, according to the people, who asked not to be named because the revamp has not been announced. The previously unreported redesign comes as the electric sedan faces increased competition from models from the likes of China's BYD, Hyundai and coming releases from other major automakers. The revamp of the battery-powered sedan, which could also include some changes to the Model 3’s exterior and powertrain performance, will go into production at Tesla’s factory in Shanghai and the company’s Fremont, California plant, two of the people said. Tesla’s Shanghai Gigafactory will put the redesigned Model 3 into production in the third quarter of 2023, they said. It was not clear when production would start at the Fremont plant or how large a cost savings Tesla would achieve from the redesign as it works with suppliers. The effort spotlights an approach to vehicle development pioneered by Tesla and now being copied by other automakers, including Toyota Motor, that removes complexity – and cost – in production. It is also an example of a key project at Tesla that has rolled ahead even as Chief Executive Elon Musk has focused on his troubled acquisition of Twitter in recent months, an area of concern for Tesla investors. Tesla did not respond to a written request for comment from Reuters. CHANGE YOU CAN SEE The redesign for the Model 3 builds on the revamp of the Model S — Tesla’s premium EV sedan — that was released last year. That redesign added an airplane-style yoke in place of a traditional steering wheel and removed buttons and traditional air vents as part of a minimalist interior where the centerpiece is a 17-inch electronic display. The Model 3, Tesla’s cheapest EV starting at just under $47,000 in the United States, had been the automaker’s best-seller but is being overtaken by the Model Y crossover. With only four models in production, styling changes to any part of Tesla’s lineup carry an outsized importance compared to established automakers. Ed Kim, president of AutoPacific Group, which tracks market trends and production, said the current Model 3 has already been updated from the version that first went on sale in 2017 because of the way Tesla updates battery performance, information and entertainment options through software, even if it still looks the same. “Having said that, consumers still tend to equate visual changes with newness,” he said. “Tesla knows visually tangible changes are in order.” “The upcoming changes that potential customers can see and feel will be very important in ensuring that EV customers still have Tesla at the top of their minds as truly excellent alternatives to Tesla are starting to flood the market,” he said. KEEP IT SIMPLE Musk has pushed a simplified approach to design and production at Tesla that the Highland project extends, said the people with knowledge of the development. Tesla has pioneered the use of massive casting machines known as Giga Press and built by IDRA Group in Italy to make single, larger pieces of a vehicle in assembly, reducing cost and speeding production. It has also designed a structural battery pack that does away with more expensive modules. Musk has said Tesla is looking to drive costs down through simplification and working on a small-car platform that would be half the cost of the Model 3. "Over and over, we found parts that are not needed. They were put in there just in case or by mistake. We eliminated so many parts from a car that did nothing," Musk said in an interview at a Baron Funds conference earlier in the month. The approach is part of what has made Tesla the most profitable electric vehicle maker while many rivals are still running at a loss. In the third quarter, Tesla made a profit of just over $9,500 for every car sold, compared to roughly $1,300 for Toyota, according to disclosures by both companies. Graphic: Tesla outpaces Toyota in profit per vehicle - https://graphics.reuters.com/TESLA-MODEL3/mypmonqbqpr/chart.png The revamp of the Model 3 comes at a time when sales in China, its second-largest market after the United States, are under pressure. Sales for the Model 3 in China fell 9% in the first ten months from a year earlier, while BYD's Qin and Han electric sedans outsold the Model 3, according to China Passenger Car Association. To boost sales, Tesla cut prices for Model 3 and Model Y in China by as much as 9% in October and offered an additional rebate for buyers who took immediate delivery. Sam Fiorani, who tracks Tesla and industry-wide production at Auto Forecast Solutions, said the upcoming changes to the Model 3, which he understood were coming, showed the power of Tesla’s approach in taking out complexity. “They are always looking for ways to make EVs profitable, and more profitable,” he said. (Reporting by Zhang Yan in Shanghai, Joe White in Detroit and Gilles Guilluame in Paris, additional reporting by Kevin Krolicki in Singapore; Editing by Ana Nicolaci da Costa)

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Retirement Stock Portfolio: 11 Safe Tech Stocks to Consider

In this article, we discuss the 11 safe tech stocks for a retirement stock portfolio. If you want to read about some more tech stocks, go directly to Retirement Stock Portfolio: 5 Safe Tech Stocks to Consider. There is broad-based consensus among finance professionals that the traditional definitions of growth and value stocks do hold-up […]

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Retirement Stock Portfolio: 11 Safe Tech Stocks to Consider In this article, we discuss the 11 safe tech stocks for a retirement stock portfolio. If you want to read about some more tech stocks, go directly to Retirement Stock Portfolio: 5 Safe Tech Stocks to Consider. There is broad-based consensus among finance professionals that the traditional definitions of growth and value stocks do hold-up very well in the present economy. This is because the technology sector has disrupted almost every major industry and is now a critical part of the overall economy, and firms like Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Mastercard Incorporated (NYSE:MA) are now established businesses with strong profiles that are not, in the ordinary sense of the word, exclusively growth-oriented. There are examples which illustrate this point. Peter Thiel, a famous entrepreneur, grew a $1,700 investment in tech stocks to a multi-billion dollar tax-free payout over the course of two decades. During the pandemic, the shift towards digital also demonstrated the safety of tech stocks as businesses altered their models to incorporate the changing consumer demands. Investors are now discarding value sectors like utilities and consumer goods in favor of tech-led disruptors for better returns in the long-term. Our Methodology The companies that operate in the technology sector and have established business models that have demonstrated historical resilience against inflationary headwinds were selected for the list. In order to provide readers with some context for their investment choices, the business fundamentals and analyst ratings for the stocks are also discussed. Data from around 900 elite hedge funds tracked by Insider Monkey in the third quarter of 2022 was used to identify the number of hedge funds that hold stakes in each firm. Photo by Ruben Sukatendel on Unsplash Retirement Stock Portfolio: Safe Tech Stocks to Consider 11. Gilead Sciences, Inc. (NASDAQ:GILD) Number of Hedge Fund Holders: 56 Gilead Sciences, Inc. (NASDAQ:GILD) a biotech company that discovers, develops, and commercializes medicines. It is one of the best safe tech stocks for a retirement stock portfolio. On October 31, Maxim analyst Jason McCarthy maintained a Buy rating on Gilead Sciences, Inc. (NASDAQ:GILD) stock and raised the price target to $92 from $84, noting that the company's third quarter results were strong due to the Veklury and HIV franchise. Among the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrow Street Capital is a leading shareholder in Gilead Sciences, Inc. (NASDAQ:GILD) with 12 million shares worth more than $742.5 million. Just like Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Mastercard Incorporated (NYSE:MA), Gilead Sciences, Inc. (NASDAQ:GILD) is one of the safe tech stocks for a retirement portfolio. In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Gilead Sciences, Inc. (NASDAQ:GILD) was one of them. Here is what the fund said: “Other pharma companies are providing solutions as well. Biopharmaceutical company Gilead Sciences, Inc. (NASDAQ:GILD)’s remdesivir, sold under the brand name Veklury, is a broad-spectrum antiviral medication administered by intravenous infusion; it can shorten the time to recovery in hospitalized patients and reduce the risk of hospitalization and death in non-hospitalized patients.” 10. Micron Technology, Inc. (NASDAQ:MU) Number of Hedge Fund Holders: 74 Micron Technology, Inc. (NASDAQ:MU) designs, manufactures and sells memory and storage products worldwide. It is one of the top safe tech stocks for a retirement stock portfolio. On October 4, Micron Technology said that it would spend $100 billion on a massive new chip making facility in upstate New York in another sign that new federal investments are stimulating domestic investment in the semiconductor industry. On October 13, Loop Capital analyst Charles Park initiated coverage of Micron Technology, Inc. (NASDAQ:MU) stock with a Buy rating and $70 price target, noting that the key metrics show that the memory industry is nearing a bottom and the risk/reward appears favorable. At the end of the third quarter of 2022, 74 hedge funds in the database of Insider Monkey held stakes worth $2.5 billion in Micron Technology, Inc. (NASDAQ:MU), compared to 69 in the preceding quarter worth $2.2 billion. In its Q2 2022 investor letter, Meridian Funds, an asset management firm, highlighted a few stocks and Micron Technology, Inc. (NASDAQ:MU) was one of them. Here is what the fund said: “Micron Technology, Inc. (NASDAQ:MU) is a leader in the production of DRAM and NAND memory. We invested in the stock in the third quarter of 2019 during a cyclical downturn in the memory industry. Our rationale was that, while the memory industry is cyclical, we believed there are strong secular drivers in place that will lead to higher peaks and long-term growth. Our secular thesis is based on our conviction that the quest for ever-increasing compute speeds will increasingly rely on memory to solve bottlenecks and that increased memory content in nearly everything from mobile phones to automobiles will drive demand. Micron’s stock traded lower during the quarter due to macroeconomic concerns that led to lower earnings expectations. We increased our stake in the company, as we believe our secular thesis remains intact. We wanted to take advantage of what we view as temporary cyclical concerns that caused the stock to trade at less than 10x reasonable trough earnings per share (EPS) estimates and less than 7x recent peak EPS.” 9. Tesla, Inc. (NASDAQ:TSLA) Number of Hedge Fund Holders: 88 Tesla, Inc. (NASDAQ:TSLA) designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems. It is one of the premier safe tech stocks for a retirement stock portfolio. On November 3, Tesla’s CEO Elon Musk said he planned to triple the size of its factory in southeast Berlin. Tesla required 1.4 million cubic meters of water every year to cast vehicle parts and cool heavy machinery and painting jobs. It has now gained access to a water resource for the purpose. On October 24, Morgan Stanley analyst Adam Jonas maintained an Overweight rating on Tesla, Inc. (NASDAQ:TSLA) stock and lowered the price target to $330 from $350, noting that the company's third quarter report, while in line with consensus expectations, was both stronger and higher quality than expected. At the end of the third quarter of 2022, 88 hedge funds in the database of Insider Monkey held stakes worth $7.4 billion in Tesla, Inc. (NASDAQ:TSLA), compared to 73 in the preceding quarter worth $7.2 billion. In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Tesla, Inc. (NASDAQ:TSLA) was one of them. Here is what the fund said: “In 2014, before we began to invest in Tesla (NASDAQ:TSLA), I called Roger to ask whether he thought Elon Musk’s electric car business would succeed. I did not believe that Roger, an owner of dealerships that sell cars powered by internal combustion engines (ICE) would likely have a favorable opinion of Tesla’s prospects. That was principally for two reasons: First, automobile manufacturing and distribution is unusually complicated, capital intensive, and highly regulated, which makes profitability problematic; second, cars with ICE motors require extensive annual maintenance, and dealer services revenues, not profits from automobile sales, are the most important contributor to profits of perpetual licensed ICE car dealerships. Penske Automotive Group is principally an ICE car dealer. Since electric cars are powered by batteries and need little service, franchised dealerships are incented to sell ICE, not EV automobiles. Further, Roger had been a long-term director of General Motors. General Motors’ ICE automobile business would be disrupted if Tesla were successful. (click here to read more…) 8. NVIDIA Corporation (NASDAQ:NVDA) Number of Hedge Fund Holders: 89 NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. It is one of the elite safe tech stocks for a retirement stock portfolio. On November 3, NVIDIA said it had partnered with Red Hat to test BlueField 2 DPUs. The companies found that the BluField 2 reduced networking demands on CPUs by 70% and accelerated speeds by 54 times. NVIDIA told HPCwire that it is continuing to run DPU tests with Red Hat. On October 25, Needham analyst Rajvindra Gill maintained a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) stock and lowered the price target to $155 from $170, noting that consensus estimates were still forecasting a positive rate of growth for semiconductor stocks. Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in NVIDIA Corporation (NASDAQ:NVDA) with 19.2 million shares worth more than $2.3 billion. In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here is what the fund said: “At the company-specific level, there was a broad correction across the entire portfolio. While four of our holdings contributed to performance, the contribution to absolute returns was less than 100bps combined, as unfortunately none of them was large enough to move the needle. We had 16 investments detracting over 100bps each with NVIDIA (NASDAQ:NVDA), our second largest detractor, costing the Fund 254bps. NVIDIA’s stock was hit even harder, down 44.4%, impacted by concerns over the health of the consumer, dramatic declines in crypto, and COVID-related lockdowns in China. Despite the sell-off and the increased near-term volatility in its gaming business, NVIDIA’s revenues grew 46% year-over-year with 48% operating margins, driven by continued strength in its data center business as companies across industries adopt AI and ML…(read more) 7. ServiceNow, Inc. (NYSE:NOW) Number of Hedge Fund Holders: 103 ServiceNow, Inc. (NYSE:NOW) provides enterprise cloud computing solutions that define, structure, consolidate, manage, and automate services for enterprises worldwide. It is one of the major safe tech stocks for a retirement stock portfolio. On October 6, ServiceNow declared that it had won a blanket purchase agreement by the US Department of Health Services. The agreement has an estimated value of $250 million for a five year performance period through 2027. The company will collaborate with Carahsoft to provide crucial functionality for HHS applications, reduce waste and help optimize inventory. On November 2, Macquarie analyst Sarah Hindlian-Bowler took over coverage of ServiceNow, Inc. (NYSE:NOW) stock with an Outperform rating and $500 price target, noting that the company is expected to continue to deliver a best-in-class platform for making work better. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Managements is a leading shareholder in ServiceNow, Inc. (NYSE:NOW) with 1.7 million shares worth more than $639.7 million. In its Q2 2022 investor letter, Ensemble Capital, an asset management firm, highlighted a few stocks and ServiceNow, Inc. (NYSE:NOW) was one of them. Here is what the fund said: "ServiceNow, Inc. (NYSE:NOW) is an enterprise software company that helps its corporate customers integrate all of their various software products into a unified platform. Their products are a key element in driving the digital transformation nearly every large company is undergoing. At the recent JP Morgan investor day, CEO Jamie Dimon explained that while the company could reduce expenses if needed should the economy slow, their spending on digital transformation would continue as this spending was critical to the company managing costs and maximizing revenue over time. As an example of this type of spending, Dimon specifically pointed to ServiceNow, calling out that the company’s products now oversaw the single largest collection of JP Morgan data and highlighted that working with them had saved JP Morgan $50 million over the past few years. (click here to read more…) 6. Salesforce, Inc. (NYSE:CRM) Number of Hedge Fund Holders: 117 Salesforce, Inc. (NYSE:CRM) provides customer relationship management technology that brings companies and customers together worldwide. It is one of the prominent safe tech stocks for a retirement stock portfolio. On September 20, Salesforce noted that it would be launching a new market place to trade carbon credits that will let companies and organizations accelerate their climate positive impact at scale. The new platform is known as Net Zero Marketplace. On November 2, Macquarie analyst Sarah Hindlian-Bowler took over coverage of Salesforce, Inc. (NYSE:CRM) stock with an Outperform rating and $210 price target, noting the company should end its multiple contractions with Cloud Suite-driven growth and improving margins. At the end of the third quarter of 2022, 117 hedge funds in the database of Insider Monkey held stakes worth $8.2 billion in Salesforce, Inc. (NYSE:CRM), compared to 116 in the preceding quarter worth $7.9 billion. In addition to Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Mastercard Incorporated (NYSE:MA), Salesforce, Inc. (NYSE:CRM) is one of the safe tech stocks for a retirement portfolio. In its Q3 2022 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Salesforce, Inc. (NYSE:CRM) was one of them. Here is what the fund said: “Salesforce, Inc. (NYSE:CRM) has become a dominant global player in sales, customer service, commerce and marketing software over the past 20 years. The company earns 80% gross margins and grows 20% organically. Plus, virtually all of its revenue is recurring. We see Salesforce as a great business that we’ve admired from afar for a long time. More recently, the organization has made some changes at the top that prompted us to take a closer look at the stock. New CEO Bret Taylor and CFO Amy Weaver are bringing a culture of financial discipline. We believe this renewed focus on profitability and capital return, combined with Salesforce’s strong underlying business characteristics, will yield strong results. The current valuation of 3.9x next year’s revenues represents a significant discount compared to publicly traded peers and recent private market values in the software space that have similar growth profiles. We view this discount as an opportunity to invest in a great business at a good value.” Click to continue reading and see Retirement Stock Portfolio: 5 Safe Tech Stocks to Consider. Suggested Articles: Disclosure. None. Retirement Stock Portfolio: 11 Safe Tech Stocks to Consider is originally published on Insider Monkey.

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Dow Jones Futures Fall As China Covid Unrest Hits Market Rally; Why You Should Be Cautious

Futures fell amid China Covid unrest. Be cautious as the S&P 500 faces a big test with key economic data due.

Yahoo

Dow Jones Futures Fall As China Concerns Hit Market Rally; Why You Should Be Cautious Futures fell amid China Covid unrest. Be cautious as the S&P 500 faces a big test with key economic data due. Futures fell amid China Covid unrest. Be cautious as the S&P 500 faces a big test with key economic data due.

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2 Stock-Split Stocks That Could Soar in 2023

This year, some of the most talked-about companies completed stock splits. These operations offer existing shareholders more shares -- but the value of their investment and the market value of the company remain the same.

Yahoo

2 Stock-Split Stocks That Could Soar in 2023 This year, some of the most talked-about companies completed stock splits. These operations offer existing shareholders more shares -- but the value of their investment and the market value of the company remain the same.

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Goldman: We don't like stocks here

Goldman Sachs thinks that being defensive on stocks is the best bet headed into a 2023 that may see a long-talked about U.S. recession.

Yahoo

Goldman: We don't like stocks here Goldman Sachs thinks that being defensive on stocks is the best bet headed into a 2023 that may see a long-talked about U.S. recession. "We remain relatively defensive for the three-month horizon with further headwinds from rising real yields likely and lingering growth uncertainty," Goldman Sachs strategist Christian Mueller-Glissmann wrote in a note to clients on Monday. Mueller-Glissman recommended that investors go overweight (have more exposure to) cash and credit in the near-term. The investment bank, which is underweight (have less exposure to) bonds and stocks, sees opportunities to "add risk" in 2023 — but the moment isn't now. "Without depressed valuations, for markets to trough investors need to see a peak in inflation and rates, or a trough in economic activity," Mueller-Glissmann added. "The growth/inflation mix remains unfavorable – inflation is likely to normalize but global growth is slowing and central banks are still tightening, albeit at a slower pace." Investors, meanwhile, have sought to look beyond the negatives in the market in recent weeks. Amid signs of an easing in inflation, lower oil prices and a renewed drop in the U.S. dollar, stocks have rallied since those the October lows. In the past month, the Dow Jones Industrial Average (^DJI) is up 7.9%, the S&P 500 (^GSPC) has gained 4% and the Nasdaq Composite (^IXIC) rose slightly. However, those gains have begun to crumble as concerns mount over a contentious COVID-19 lockdown situation in China and how large manufacturers such as Apple and Tesla will be impacted. "Our key point for now is that investors who conclude that: (1) protests will lead China to loosen Covid restrictions in the near-term; and (2) that this would bring relief to the economy, are likely being overly optimistic on one or both counts," 22V Research strategist Michael Hirson wrote in a note. Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Click here for the latest trending stock tickers of the Yahoo Finance platform Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

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Doge surges over speculation of Elon Musk and Ethereum co-founder Vitalik Buterin working together

Dogecoin surged over 27% in the past week amidst speculation that Elon Musk and Ethereum's Vitalik Buterin are working on an upgrade for the dog-faced memecoin.

Yahoo

Doge surges over speculation of Elon Musk and Ethereum co-founder Vitalik Buterin working together Dogecoin (DOGE-USD) has surged over 27% in the past week amidst speculation that new Twitter (TWTR) boss Elon Musk and Ethereum's Vitalik Buterin are working on an upgrade for the dog-faced memecoin. In a tweet from last week, David Gokhshtein, founder of Gokhshtein Media wrote: "I feel that we’ll all see Vitalik and Elon working together to somehow upgrade $DOGE." I feel that we’ll all see Vitalik and Elon working together to somehow upgrade $DOGE. — David Gokhshtein (@davidgokhshtein) November 25, 2022 Speaking to Yahoo Finance Gokhshtein expanded on his tweet and said: "Vitalik Buterin is part of the Dogecoin Foundation. "Buterin has also made multiple donations to the Foundation and Elon Musk, who’s in love with the dogecoin protocol. "A payment system is needed on Twitter, or the X-app, and Musk has been making side remarks about the potential of “maybe” having dogecoin on the platform. "Vitalik knows the dogecoin protocol well and it would be easy for him to provide the resources to the foundation to upgrade the blockchain." On Sunday, Musk shared slides from a Twitter "company talk" detailing his plans for the social media platform. New Twitter developments often stoke anticipation amongst cryptocurrency enthusiasts that Musk will incorporate dogecoin into payment services on the app. Check: Crypto live prices Speaking to Cointelegraph, Martin Hiesboeck, head of blockchain and crypto research at cryptocurrency trading platform Uphold, said that adding a crypto wallet to Twitter could be the next logical step. He said: “Many in the crypto space are bracing themselves for how Elon Musk will impact the industry, and the response has been surprisingly optimistic. It’s clear Musk will drive the digital asset integration with the platform along. Slides from my Twitter company talk pic.twitter.com/8LLXrwylta — Elon Musk (@elonmusk) November 27, 2022 “For instance, many platforms will offer their own crypto wallets in order to keep transactions close to their ecosystem. Twitter doing this is a logical step for a social network that already enables users to send tips in crypto.” Dogecoin, which performs as a proxy sentiment indicator for Musk, could also be appreciating after news that the Twitter owner might build his own "Tesla Phone". Musk recently suggested he may move into the phone industry amid concerns that Apple (AAPL) and Google (GOOGL) could ban Twitter from their app stores due to content moderation concerns. Read more: 'Get your money off exchanges', warns Bitboy Crypto after FTX scandal On Friday, the host of The Liz Wheeler Show, Liz Wheeler, said: "Half the country would happily ditch the biased, snooping iPhone & Android. The man builds rockets to Mars, a silly little smartphone should be easy, right?" Musk said in response: "I certainly hope it does not come to that, but, yes, if there is no other choice, I will make an alternative phone." Dogecoin is already accepted for merchandise in the Tesla (TSLA) online shop, and it is not unimaginable that Musk would extend the use of dogecoin into a new Tesla Phone alternative to Apple and Google devices. Dogecoin has risen over 27% in the past seven days to stand at $0.096 at the time of writing. In October, rumours surfaced that under Musk's leadership Twitter would inaugurate a crypto wallet. Popular tech blogger Jane Manchun Wong speculated the social media platform had already begun working on a wallet prototype that supports cryptocurrency deposits and withdrawals, leading to a dogecoin surge of 40%.

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Tesla In Line For An Additional Significant Drop (Technical Analysis)

Tesla appears to be facing headwinds on a number of fronts. See why there appears to be no end in sight for TSLA's share price drop.

SeekingAlpha

Tesla In Line For An Additional Significant Drop (Technical Analysis) Summary - Tesla appears to be facing headwinds on a number of fronts. - With clear bearish targets outlined, we will look at what price region Tesla may be arriving at next. - First, we will cover some of the latest news before moving to technical analysis. In this article we will examine why there appears to be no end in sight for Tesla's (NASDAQ:TSLA) share price drop before we move to the technicals to see where the price may be going next and if that will potentially be a bottom. Tesla stock isn't having a great run of late touching into the mid $150 region as 2022 trading looks to come to a close. The Twitter takeover by Tesla CEO Elon Musk has investors nervy about where he is focusing his already tight time schedule and it is reflected in the stock price with my much-coveted Tesla $176 article from April this year now clearly being bypassed for a lower price region. As competition for the EV market in the US hots up, investors may be swayed to look to other manufactures considered on the rise for a greater portion of the market albeit Tesla clearly remains king with the largest market portion by far. China also remains an issue with concerns over strict protracted lockdown policies weighing on demand for Tesla vehicles as the new year looms. We will start the technical analysis by looking into what happened once $176 was achieved and how Tesla very nearly formed a three-wave pattern on the weekly chart suggesting an attempt to breakout higher from that region but as the old saying goes, "nearly didn't get there". We can see above bypassing $176, the stock actually dropped a further ten dollars to $166 before forming two bullish candles from that low which topped out circa $200, additionally a bearish rejection candle was then formed with the following opening week to make its decision, break above $200 or break below $166, the latter was clearly chosen. So where could this share price be headed next? Now we will move to the monthly chart and delve into the bearish wave structure that has yet to complete. We can see the wave one $414 to $233 with the wave two making its way from that price region to circa $390. The wave three then becomes confirmed with the drop from circa $390 to below the $233 support. We can see Tesla currently surging it's way south towards the next technical stop of $122. This is the Fibonacci 161 from the three-wave structure and in bearish cases, equities have been known to turn around at this level, this is one scenario should Tesla arrive at that price region. The second scenario is that there is no bullish pattern formed if Tesla does get there and looks to then head towards a numerical copy of the wave one and land at $51. To finalize I would expect Tesla to firstly arrive at $122 within the next 30-90 days where I will be looking for turn around signals by way of a three-wave pattern if this equity reaches that price area. Should no bullish pattern emerge a significant drop it will be for Tesla as all eyes turn to the $50 region. About the Three Wave Theory The three-wave theory was designed to be able to identify exact probable price action of a financial instrument. A financial market cannot navigate it's way significantly higher or lower without making waves. Waves are essentially a mismatch between buyers and sellers and print a picture of a probable direction and target for a financial instrument. When waves one and two have been formed, it is the point of higher high/lower low that gives the technical indication of the future direction. A wave one will continue from a low to a high point before it finds significant enough rejection to then form the wave two. When a third wave breaks into a higher high/lower low the only probable numerical target bearing available on a financial chart is the equivalent of the wave one low to high point. It is highly probable that the wave three will look to numerically replicate wave one before it makes its future directional decision. It may continue past its third wave target but it is only the wave one evidence that a price was able to continue before rejection that is available to look to as a probable target for a third wave. This article was written by Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comments (128) That’s obviously a rhetorical question. Always amazed how people lose their common sense…. GM 5.9 and toyota 9.4.The p/e of the top 59 auto companies is 9.2.TSLA at the norm would be trading well below $50. So anything under $155 is a buy.

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Top 5 CEO Insider Trades this Week - Starring Elon Musk

Fintel

SHARE PRICE EXTENDED |Day's Range||-| |52 Week Range||-| |Motor Vehicles and Passen...| Bret Kenwell Bret Kenwell has been publicly writing about and analyzing the stock market for more than 10 years. What started off as fundamental analysis of strong businesses has morphed into a rigorous process that blends both fundamental and technical analysis. While he still seeks out the strong businesses and dependable dividends he was attracted to early on, Bret has narrowed his focus to technology, automotive, and high-quality, high-growth businesses. In that effort, he seeks Future Blue Chips — which is also the name of his website and newsletter. Bret’s writing has sent him to unique places and events, like auto shows and industry conferences. Those excursions allowed him to fully grasp what Nvidia was showcasing at its GTC conferences and see some of the impressive updates on display at the automotive show. Through this he gained incredible insight into, and conviction in, what have become some of today’s best-performing stocks. It’s also allowed him to meet some very smart, very talented investors. Perhaps more than anything, their lessons, findings, and techniques have found a way into his process over the years. There are a million different ways to make money in the stock market. To find the process that works best for you is long and filled with setbacks. Bret’s hope is that part of his process can become part of yours; and together become better investors. Top 5 CEO Insider Trades this Week - Starring Elon Musk Elon Musk continues to sell Tesla stock, but not all CEOs are sellers right now. Elon Musk sold an additional 22 million shares of Tesla (US:TSLA) stock worth about $3.6 billion over three days from Dec. 12 to 14, according to a Form 4 filing with the US Securities and Exchange Commission. This follows Musk's November sale of around $4 billion worth of Tesla stock. Tesla's share price has hit 52-week lows in the past four consecutive sessions since December 16. Musk wasn't the only one with some exciting insider action this week. Let's look at a few others that caught our eye. SoFi (SOFI) While SoFi's trading near 52-week lows, unlike Elon Musk at Tesla, Chief Executive Officer Anthony Noto is a buyer, disclosing that he bought $5 million worth of SoFi (US:SOFI) stock or 1.13 million shares at an average of $4.42 each. VF Corp (VFC) VF Corp (US:VFC), the owner of brands such as Vans, The North Face, and Supreme, recently saw insider buying from directors. On Dec. 9, Mark Hoplamazian and Clarence Otis purchased 17,500 and 9,000 shares, respectively. Interim Chief Executive Officer and President Benno Dorer also demonstrated confidence in the company by buying 10,000 shares a few days later. Although Dorer has been with VF Corp for several years, he was only named CEO this month. NRG Energy (NRG) NRG Energy (US:NRG) Chief Executive Officer Mauricio Gutierrez bought 15,000 shares at $32.03 each on Dec. 15 for about $480,000, putting his stake at 1.1 million shares. Other insider buying at NRG Energy includes purchases by directors Heather Cox (1,500 shares at $31.32 on Dec. 16), Paul Hobby (3,500 shares at $31.37 on Dec. 16), and Elisabeth Donohoe (2,500 shares at $31.32). Directors Lawrence Coben and Antonio Carrillo also purchased shares on Dec. 15, with Coben buying 15,000 shares at $31.70 and Carrillo buying 9,000 shares at $31.71. Rocket Companies (RKT) Rocket Companies saw insider buying from CEO Jay Farner, who has been gobbling up stock through a 10b5-1 plan throughout December. Farner acquired another 237,900 shares, bringing his stake to 5.9 million, worth about 46.5 million on Friday. Director Matthew Rizik, the Treasurer, Chief Financial Officer, and Chief Tax Officer for Rock Holdings, also bought 20,700 shares this month through a 10b5-1 plan. Karat (KRT) Alan Yu, Chairman and Chief Executive Officer of Karat Packaging (US:KRT), has continued to buy Karat stock despite its shares hovering near a 52-week low. Yu bought stock on seven separate days this month, accumulating 43,100 shares for over $600,000 and building his stake to more than 7.4 million shares. Stories by Bret Kenwell 6 Stocks With Heavy Call Flow: ENPH, META, MRNA, MSFT, NVDA, QCOM Many investors don’t pay attention to unusual options activity because options are too confusing and there can be multiple implications from a single data point. Unusual Options Flow in KRE, QQQ, GDX and 3 Other ETFs Many investors brush off unusual options activity, but others like to “follow the flow. Tech Stocks AI, NVDA, BABA Dominate Unusual Options Activity Unusual options activity is often ignored by many investors, but for some, it plays a key role in their trading strategies and approach. We're Seeing KRE, ARKK, SLV and 4 Other ETFs With Unusual Options Activity Like stocks, exchange-traded funds can have unusual options activity too. Tesla, Disney and Nvidia Join 7 Others Showing Unusual Options Activity While many investors brush off options, many others like to “follow the flow. Amid Industry Turmoil, Regional Banking ETF Leads Unusual Options Activity Many investors don’t pay attention to options because they find them too confusing and there can be multiple implications from a single data point. Unusual Options Activity in Tesla, Nvidia and 5 Other Stocks Many investors brush off unusual options activity, but others like to “follow the flow. 10 Stocks With Unusual Options Activity: INTC, TSLA, AMD and More Many investors brush off or ignore options trading because options are complex and misunderstood. 10 ETFs With Heavy Call Options Flow: EEM, HYG, UNG, FXI and More While many investors brush off options, many others like to “follow the flow. Unusual Options Activity: BABA, INTC, F and 7 Others While many investors brush off options, many others like to “follow the flow.

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Senator Warren, Tesla investor turn up heat over Musk's Twitter role

Senator Elizabeth Warren, a longtime critic of Tesla Inc boss Elon Musk, on Monday raised concerns that the automaker's board had failed to address the risks posed by his role as CEO of Twitter.

Reuters

Senator Warren, Tesla investor turn up heat over Musk's Twitter role WASHINGTON/SAN FRANCISCO, Dec 19 (Reuters) - Senator Elizabeth Warren, a longtime critic of Tesla Inc (TSLA.O) boss Elon Musk, on Monday raised concerns that the automaker's board had failed to address the risks posed by his role as CEO of Twitter. Musk's $44 billion takeover of the social media platform in October has been marked by chaos and controversy, with even Tesla bulls questioning if he is too distracted to properly run the EV maker, where he is personally involved in production and engineering. Investors have urged Musk to step down as Twitter CEO and punished Tesla stock, which is down nearly 60% this year and hit a fresh two-year low on Monday. Warren, a progressive Democrat who has previously clashed with Musk over her calls for billionaires to pay more taxes, said that a company's board was responsible for ensuring that its controlling shareholder did not treat it "as a private plaything." "The first weeks of Mr. Musk's Twitter ownership have raised questions about possible violations of securities or other laws, including whether Mr. Musk is funneling Tesla resources into Twitter," she said in a letter to Tesla's board chair, Robyn Denholm. James Murdoch, a Tesla director, testified in court last month that the company's audit committee discussed Musk's deployment of Tesla engineers at Twitter, saying this should not take away from their work at the car maker. Denholm could not immediately be reached and Tesla did not respond to a request for comment. Musk did not immediately respond to Reuters' request for comment. Musk himself has sold $40 billion in Tesla stock this year, further frustrating investors. Musk himself has mulled leaving the top job at Twitter. On a Twitter poll from Musk on Sunday asking whether he should step down as Twitter CEO, 57.5% of 17.5 million people voted "yes." He had said on Sunday he would abide by the results of the poll. He did not provide details on when he would step down if results said he should. Musk has said that there is no successor yet. Some investors and analysts say Musk stepping down as Twitter boss doesn't remove concerns. Gary Black, a Tesla investor, warned on Monday that things wouldn't improve until Twitter appointed a credible CEO and its finances recovered so that Musk didn't have to keep selling his Tesla shares to fund it. "DISAPPOINTMENT WITH ELON" Warren, who has demanded a response from the Tesla board by Jan. 3, said Musk had not explained how he is managing conflicts of interest between his roles at the two companies as Twitter relied on advertising revenue from Tesla's rival automakers. Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management and a big Tesla bull, said last week that he would run for Tesla board and had notified Tesla. "I work with maybe a thousand investors ... Seeing the pain everybody is going through, the disappointment with Elon, unhappiness, it was just like the time for somebody to stand up and say what needs to be said," he told Reuters. Leo KoGuan, a major individual Tesla shareholder, wrote on Twitter earlier that Musk had "abandoned Tesla and Tesla has no working CEO." "The whole situation is just weird, and weird is being kind," said Matthew Tuttle, CEO of Tuttle Capital Management. "If I was a long term investor I would stay away, you never know what Elon is going to do, he said. Our Standards: The Thomson Reuters Trust Principles.

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Sen. Elizabeth Warren sent a letter to Tesla’s board accusing Elon Musk of ‘unavoidable conflicts’ at Twitter and possible ‘misappropriation of corporate assets’

Warren also expressed her concern over how the carmaker’s board is dealing with Musk since he became Twitter’s CEO.

Yahoo

Sen. Elizabeth Warren sent a letter to Tesla’s board accusing Elon Musk of ‘unavoidable conflicts’ at Twitter and possible ‘misappropriation of corporate assets’ Sen. Elizabeth Warren (D-MA) has sent a letter to Tesla’s board that accuses CEO Elon Musk of “unavoidable conflicts,” and potential “misappropriation of corporate assets” related to his $44 billion acquisition of Twitter. Warren expressed concern over how Tesla’s board is dealing with Musk since becoming Twitter’s CEO, claiming that his actions may not be in the “best interests” of Tesla and its shareholders. It’s the board’s “legal responsibility” to address the situation, she said. “That responsibility includes ensuring that Mr. Musk is an effective CEO and that he fulfills his legal obligation to act in the best interests of Tesla and all of its shareholders, not just himself,” she wrote in a letter to Tesla chair Robyn Denholm, on Sunday. In the first weeks of his Twitter takeover, Musk’s leadership prompted concerns over whether he’s “funneling Tesla resources into Twitter,” Warren wrote, citing reports that claim Musk used Tesla software engineers at Twitter. It raises questions about whether Mr. Musk is “appropriating resources from a publicly traded firm, Tesla, to benefit his own private company, Twitter,” Warren wrote. Doing so would “violate” Musk’s legal duty to Tesla and prompt questions about the board’s competence, she said. Warren mentioned an anonymous employee who told CNBC that it felt almost impossible to turn down Musk without facing consequences later. That raises a larger question of whether employees were forced to work for Twitter rather than being invited to do so, Warren said. Since Musk’s Twitter acquisition, multiple advertisers have pulled their ads from Twitter, leading to a drop in revenue. Warren said that “Twitter’s desperation for revenue to cover its new debts could also create conflicts.” For example, Musk could “shift Twitter algorithms so that praise of Tesla products receive greater attention and criticism of Tesla products will be suppressed.” He could also have Twitter provide free ads to Tesla, or it could overcharge Tesla for advertising. Either way, Warren says it's a conflict of interest. Musk and Tesla are “inextricably intertwined,” Warren said, which means his actions as Twitter’s CEO, and how Twitter is operated and perceived, could harm Tesla’s brand. This year, Tesla shares have dropped more than 62%, partly because of increasing concern among investors about Musk’s purchase of Twitter and his focus on that company at Tesla’s expense. “Tesla’s losses did not occur in a vacuum: while not all losses can be attributed to Mr. Musk’s decision to take over Twitter, there appears to be a direct link, with one analyst calling the Twitter deal an “albatross” that hangs over Tesla,” Warren wrote. She also included a dozen questions for the board about any informal or formal agreements between Tesla and Twitter. Additionally, she asked about any protections the board has in place to avoid conflicts of interest involving Musk, and if it has reviewed Musk’s actions related to the two companies. “Despite widespread concerns about Mr. Musk’s acquisition of Twitter while serving as CEO of Tesla, it remains unclear whether the Tesla Board—which has key decision making authority within the company—is adequately governing the company or if it has established clear rules and policies to address the risks to Tesla posed by Mr. Musk’s dual roles,” Warren wrote. Musk, Tesla, and Twitter did not immediately respond to Fortune’s request for comment. This story was originally featured on Fortune.com More from Fortune: People who skipped their COVID vaccine are at higher risk of traffic incidents Elon Musk says getting booed by Dave Chapelle fans 'was a first for me in real life' suggesting he's aware of building backlash Gen Z and young millennials have found a new way to afford luxury handbags and watches—living with mom and dad Meghan Markle’s real sin that the British public can’t forgive–and Americans can’t understand

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Tesla's Decline Into Normality

Tesla is steadily losing market share, especially in its core market of the United States. Click here to read why we recommend against investing in TSLA stock.

SeekingAlpha

Tesla's Decline Into Normality Summary - Tesla is steadily losing market share, especially in its core market of the United States. - The company continues to be worth more than every other car company, despite its minimal sales and profits in comparison. - We recommend against investing in Tesla, as we expect it to continue its long-term decline. Opportunistic shorts might be in order. - We're currently running a sale at my private investing ideas service, The Retirement Forum, where members get access to portfolios, market alerts, real-time chat, and more. Learn More » Tesla's (NASDAQ:TSLA) share price has continued to suffer. The company is struggling to maintain its market share as new offerings come to the market and it is no longer the largest EV company globally. As we'll see throughout this article, we expect the company will decline into "another" car company, substantially decreasing its multiples and valuation. Elon Musk's Divided Attention Elon Musk is a polarizing figure; however, it's easy to argue that Tesla wouldn't be where it is without him. However, there's no denying that his attention is currently divided. The rumor is that Elon Musk is now living on the 10th floor of the Twitter headquarters effectively, with his kid at work, looking to salvage what was undeniably a misplaced $44 billion bet. As Elon Musk himself has told employees, bankruptcy isn't out of the question. We expect in the intermediate term Twitter will utilize the majority of Elon Musk's efforts. On top of that are the greater risks of dozens of Tesla employees being pulled to Twitter, and Tesla's financing. Those are risks worth paying close attention to as Twitter struggles. While everyone knows those struggles, the company is continuing to sell billions in stock to fund Twitter. Tesla Market Share Decline At the same time, there is a larger risk of Tesla's market share decline as competition increases in the markets. New data from S&P Global Mobility highlighted how Tesla's share of newly registered EVs was 65% in 3Q 2022, down from 71% in the prior year and 79% in 2020. The forecast is for the company's share to decline to less than 20% by 2025. As the number of new models out there increases, it's clearly evident that consumers are moving away from Tesla's offerings. A substantial part of the case is that Tesla isn't cost-competitive with the company's cheapest offerings at barely before $50,000. In a world where EVs make up 5% of the market, Tesla is declining its market share in an incredibly small market. While U.S. EV demand will grow over the long term, for the above reasons, we expect Tesla won't maintain its dominant market position. We expect this market share decline to continue rapidly. New Competition We expect that the company's new competition will continue to increase rapidly, hurting its potential, especially in markets like China. One of the largest sources of new EV purchasers is the classic massive legacy car makers, especially those in South Korea and Japan like Toyota (TM, OTCPK:TOYOF) and Honda (HMC, OTCPK:HNDAF), have been slow to shift to EVs, driving away customers. We expect that to change. Despite these companies being slow to the game, they have lofty targets to change their goals. Honda has announced plans earlier this year to spend $40 billion on electrification, with 40% North America 2030 EV sales and 100% EV sales in 2040. The company is also aiming for 0% emissions and 0% fatal crashes globally by 2050, both lofty goals that we think the company should be able to achieve. Toyota has announced the largest goal of any car manufacturer at $70 billion, with the goal of 35% of sales happening from EVs by 2030 across 30 vehicles. The specifics are less important, but the takeaway here is that Tesla did great to begin with because it was the only game in town. But the short-term market share declines and long-term automaker targets show changes. Second to the Semi, Autopilot Next An example of Tesla falling behind isn't just in the low-cost market where it's a true competitor. Renault (OTCPK:RNSDF, OTCPK:RNLSY) recently mocked Tesla after sending its EVs to the market to Coca-Cola ahead of Tesla's promised trucks to Pepsi. Tesla has announced a plan to produce 200 semis in 2022 and up to 50,000 vehicles in 2024. The company's semi did recently accomplish an impressive 500-mile drive with an 81-thousand-pound load. The EV truck market is very different though. The company's customers are much more willing to buy a new vehicle to save, and the producers need to produce a single high-quality model. In Europe especially, where trucking routes are much shorter, the market is expected to grow rapidly. Volvo (OTCPK:VOLAF, OTCPK:VLVLY, OTCPK:VOLVF) has also recently started production of its heavy-duty truck. While the Tesla Semi is finally hitting its point of delivering to customers, EV battery pack shortages are still substantial, and we expect that to define the markets for the next few years. This is similar to autopilot where, despite originally promising a full EV years ago, Tesla has continued to flounder. Multiple companies are leading Tesla in self-driving technology. What bulls once touted as a massive source of revenue, self-driving packages for existing cars, has now become a source of lawsuits after the company's claims. Delays for the company's semi and autopilot, where it loses significant first-to-market advantage for both, we expect to put major pressure on the company. Our View There's no denying that Tesla has changed the market. Our view against the company as an investment doesn't change our view over the company itself or its cars. However, in markets where the company is looking to enter, such as Tesla Semi and autopilot, not only does the company not have a first mover advantage, but as discussed above, the company is already facing lawsuits from prior claims. There's no denying the Tesla Semi is a game-changing vehicle but ramp up will be slow and competition increasing. Unfortunately, the volatility around Tesla's stock makes it a tough short. Even Jan. 2024 PUTs at current market price have a cost of ~20%, making it an expensive short. Shorting it on the open market is an incredibly risky proposition, one worth paying close attention to, and one that we would recommend being cautious about doing. We recommend investors aggressively sell out of the stock, at minimum, if they have a position. Thesis Risk The largest risk to our thesis is that Tesla has a history of execution and there are still new markets. At 200k per semi, the company's 2024 semi targets alone could become $10 billion in revenue at reasonable margins given the potential for cost savings to the company's customers. It could happen to solve self-driving. Or investors could just drive the company up in another bull market, like they have over the past few years. For no reason at all. All of that will mean investors are worse off than they could have been. Conclusion Tesla has lost the semi race, although it's not far behind, delivering to Pepsi just a few days after Renault's delivery to Coca-Cola with a better semi truck. Unfortunately in autopilot, another rumored area of growth, the company doesn't seem to be performing well either, with lawsuits now having the potential to cost the company substantially. A substantial number of Tesla's customers have been moving away from classic companies like Toyota and Honda that don't offer EVs yet. That's expected to change in the upcoming years and new models are already reflected in Tesla's declining market share. We expect that change to substantially hurt Tesla's ability for future returns. You Only Get 1 Chance To Retire, Join The #1 Retirement Service The Retirement Forum provides actionable ideals, a high-yield safe retirement portfolio, and macroeconomic outlooks, all to help you maximize your capital and your income. We search the entire market to help you maximize returns. Recommendations from a top 0.2% TipRanks author! Retirement is complicated and you only get once chance to do it right. Don't miss out because you didn't know what was out there. We provide: - Model portfolios to generate high retirement cash flow. - Deep-dive actionable research. - Recommendation spreadsheets and option strategies. This article was written by #1 ranked author by returns: https://www.tipranks.com/experts/bloggers/the-value-portfolio The Value Portfolio focuses on deep analysis of a variety of companies across a variety of sectors looking for alpha wherever it is to maximize reader returns. Legal Disclaimer (please read before subscribing to any services): Any related contributions to Seeking Alpha, or elsewhere on the web, are to be construed as personal opinion only and do NOT constitute investment advice. An investor should always conduct personal due diligence before initiating a position. Provided articles and comments should NEVER be construed as official business recommendations. In efforts to keep full transparency, related positions will be disclosed at the end of each article to the maximum extent practicable. The majority of trades are reported live on Twitter, but this cannot be guaranteed due to technical constraints. My premium service is a research and opinion subscription. No personalized investment advice will ever be given. I am not registered as an investment adviser, nor do I have any plans to pursue this path. No statements should be construed as anything but opinion, and the liability of all investment decisions reside with the individual. Investors should always do their own due diligence and fact check all research prior to making any investment decisions. Any direct engagements with readers should always be viewed as hypothetical examples or simple exchanges of opinion as nothing is ever classified as “advice” in any sense of the word. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comments (310) Legacy auto guys DO NOT HAVE TONS OF CASH TO COMPETE. NOT AT ALL. "Allowing proven liars, racists, antisemites and enemies of the Constitution unfettered access to Twitter, while at the same time giving legitimate journalists who report on him the boot."QFE! The author needs to educate himself Old Biden banns drilling so now Tesla stock tanks… What absurd? --- Irrelevant in a rapidly-growing market;• The company continues to be worth more than every other car company, despite its minimal sales and profits in comparison. --- MINIMAL sales and profits? They sell nearly every car they build and have the highest profit margin PER VEHICLE of nearly every brand. Their "minimal sales" are due to them still being a relatively small company compared to the others;• We recommend against investing in Tesla, as we expect it to continue its long-term decline. Opportunistic shorts might be in order. --- That is you. I say hold for now and get ready to buy. “Irrelevant in a rapidly-growing market;” I have not seen any reputable source claim the overall market will grow higher than single digits. --- The market is being forced to transition away from Internal Combustion Engines, pretty much across the board, especially as so many countries (and cities within countries) are effectively banning the sale and/or importation of ICEVs within 2 decades. Essentially, the "market" will ultimately be 90% EV within the expected lifespan of current ICEVs. THAT, sir, is the foreseeable future. and Who is Buying tsla right now ? Do you think dumb money is buying tsla right now ? InFlows are beginning to increase, and OutFlows are starting to decrease. the Mother of All Squeezes will be epic, soon. Another source of inflation was from those with a political bent that wanted the story to be true. A large portion of those suddenly reversed course when the CEO bought Twitter. Tesla was their religion and their god "betrayed them" by not sticking with the message. If they follow a new religion with a ticker symbol, they will dump TSLA to worship the neon god du jour. No company does what Tesla does? Really? Seems that this company is doing all that plus electric rail, semiconductor manufacturing, and selling batteries to Tesla. www.bydglobal.com/...

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US STOCKS-Wall Street falls fourth straight day as recession worries nag

Wall Street closed lower on Monday for a fourth straight session with Nasdaq leading declines as investors shied away from riskier bets, worried the Federal Reserve's tightening campaign could push the U.S. economy into a recession. The three major U.S. stock indexes have been under pressure since Wednesday, when Fed Chair Jerome Powell took a hawkish tone while the central bank raised interest rates.

Yahoo

US STOCKS-Wall Street falls fourth straight day as recession worries nag (For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * Fed hikes, recession fears in focus * L3Harris slides after $4.7 bln Aerojet buyout Indexes down: Dow 0.49%, S&P 0.90%, Nasdaq 1.49% * (Updates after close, adds details, trading volume) By Sinéad Carew and Sruthi Shankar Dec 19 (Reuters) - Wall Street closed lower on Monday for a fourth straight session with Nasdaq leading declines as investors shied away from riskier bets, worried the Federal Reserve's tightening campaign could push the U.S. economy into a recession. The three major U.S. stock indexes have been under pressure since Wednesday, when Fed Chair Jerome Powell took a hawkish tone while the central bank raised interest rates. Powell promised further rate increases even as data showed signs of a weakening economy. The S&P 500, the Dow Jones industrials and the Nasdaq have sold off sharply for December and are on track for their biggest annual declines since the 2008 financial crisis. While U.S. Treasury yields gained, investors ran from stocks, eyeing prospects of safer bets as they worried about the likelihood of a recession in 2023 according to Brian Overby, senior markets strategist at Ally. "Investors are asking why do I want to take those risks going into 2023 with the Fed's stance still aggressive when I can get such a good yield on the fixed income market place," he said. The lack of big earnings reports or economic data on Monday likely sharpened investors' focus on economic fears and interest rates, according to Melissa Brown, Global Head of Applied Research at Qontigo in New York. "It's a knife edge between whether we're going to teeter into a recession or have a soft landing. Is the Fed acting appropriately?" said Brown who also noted that moves may be exaggerated as many investors take vacation around the end-of-year holidays. The Dow Jones Industrial Average fell 162.92 points, or 0.49%, to 32,757.54, the S&P 500 lost 34.7 points, or 0.90%, to 3,817.66 and the Nasdaq Composite dropped 159.38 points, or 1.49%, to 10,546.03. The biggest decliners among S&P industry sectors were communications services, which fell 2.2%, consumer discretionary, down 1.7% and technology, which lost 1.4%. Energy outperformed, closing up 0.13% as the sole industry out of 11 to manage a gain. Market heavyweights such as Apple Inc, Microsoft Corp and Amazon.com Inc created some of the biggest drags on the market. Trading in Tesla Inc was volatile with the electric carmaker closing down 0.24% after falling as much as 2.8% during the session. This was after a Twitter poll that showed a majority of respondents want Tesla Chief Executive Elon Musk to step down as CEO of the social media platform. Meta Platforms shares finished down 4.1% after the European Commission said it could impose a fine of up to 10% of the tech conglomerate's annual global turnover if evidence showed an infringement of the EU's antitrust laws. L3Harris Technologies Inc lost 3.6% after the U.S. defense contractor said it would buy hypersonic engine manufacturer Aerojet Rocketdyne Holdings Inc for $4.7 billion. Aerojet added 1.3%. Shares of casino operators Melco Resorts & Entertainment tumbled just under 8% and Wynn Resorts lost 5.2% while Las Vegas Sands Corp fell 2.3% after Macau said on Friday that six casino firms will invest around $15 billion as part of new 10-year contracts they signed to operate in the world's biggest gambling hub. Declining issues outnumbered advancing ones on the NYSE by a 2.80-to-1 ratio; on Nasdaq, a 2.63-to-1 ratio favored decliners. The S&P 500 posted 5 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 66 new highs and 456 new lows. On U.S. exchanges 11.07 billion shares changed hands, compared with the 11.59 billion average for the last 20 trading days. (Reporting by Sinéad Carew, Sruthi Shankar, Shubham Batra, Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty, Maju Samuel and David Gregorio)

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Tesla Stock Marches Higher Then Reverses As Musk Says 'No One Wants The Job'

Tesla gained 4% early Monday, then reversed to a loss after plunging 16% last week, its worst weekly decline since March 2020.

Yahoo

Tesla Stock Marches Higher Then Reverses As Musk Says 'No One Wants The Job' Tesla gained 4% early Monday, then reversed to a loss after plunging 16% last week, its worst weekly decline since March 2020. Tesla gained 4% early Monday, then reversed to a loss after plunging 16% last week, its worst weekly decline since March 2020.

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Tesla stock downgraded over Musk-Twitter risk

Yahoo Finance Live examines Tesla shares amid analyst downgrades and investor concerns linked to Elon Musk's new focus on Twitter, while also discussing Senator Elizabeth Warren's own qualms with the CEO's ownership of the social media platform.

Yahoo

Tesla stock downgraded over Musk-Twitter risk Yahoo Finance Live examines Tesla shares amid analyst downgrades and investor concerns linked to Elon Musk's new focus on Twitter, while also discussing Senator Elizabeth Warren's own qualms with the CEO's ownership of the social media platform. Video Transcript PRAS SUBRAMANIAN: Tesla treading water following a rough week as Oppenheimer says it's seen enough. Analyst Colin Rusch downgraded the stock to perform, writing that challenges regarding Twitter have left sentiment towards Tesla, quote, "severely damaged." It's not just Musk's share sales that are an overhang. Rusch says its decisions in running Twitter leading to broad public backlash that is pushing Rusch, quote, "to the sidelines." Kind of a sobering note here, kind of laying out the case as to why-- it's not about Tesla, the company. Like, he says that they have the ability to cut costs where other guys can't do it. The software and tech prowess is there, but just concern over Musk's sort of connection to Twitter and that-- just that public backlash there. DAVE BRIGGS: Yeah, so many positives. I mean, built his own supply chain that is not reliant on other countries. But look, the stock at Tesla is down 30% since that Twitter takeover. And the one thing you just don't want is that brand, that cult of personality. They become bigger than the biggest car company in the world. And that's what it is. Actually, this is just anecdotal, guys, but I talked to some friends who I live in a Tesla town, and I spoke with a few of them and said, does this impact you? And before I even got it out of my mouth, they all said I absolutely will never buy a Tesla again. SEANA SMITH: Really? DAVE BRIGGS: I'm already looking at what type of EV I'm going to buy next. Now, their politics are obvious, but they don't want to think of a human being. They don't want to think of a politics. They want to think of a machine. And that gets back to this poll that he put out. Should I step down as head of Twitter? I will abide by the results of the poll. 17 and 1/2 million people voted. That is an astronomical number. And overwhelmingly, people said yes. And he also said he will, again, abide by this. My personal belief is he wanted an out here. He would not have put this poll out to his followers if he didn't want to get out from under that enormous burden. SEANA SMITH: Yeah, I think he's using it as a bit of a scapegoat here to kind of say, hey, I put it to you guys. You guys voted, and I'm listening to you. This isn't the first time that he's kind of done something similar to this. So I think the fact that he put that out there-- the number of votes, though, that took me by surprise, over 17 million. DAVE BRIGGS: Wow. SEANA SMITH: Astonishing, but that really shows how much attention this story has attracted, not only from Tesla believers or Musk believers, but people, clearly, who have been very critical of him. And he's been criticized from Wall Street. A number of analysts, Oppenheimer the latest, downgrading shares, or really changing their view of Tesla, saying that right now, it's not trading within the line of fundamentals. But also a number of policymakers have come out and questioned what Tesla is doing right now, what Elon Musk is doing, what that could mean for Tesla shareholders. And Senator Warren today is sending a letter to Tesla's board and raising some questions about Elon Musk and Twitter and whether or not his actions are short changing Tesla. And within this letter, she wrote, Twitter's desperation for revenue to cover its new debts could also create conflicts when Tesla negotiates with Twitter for advertising space. Mr. Musk could decide that he is personally better served if Tesla overpays Twitter for advertising or pays upfront to give Twitter access to much needed cash. Now it's very important to point out that this is all hypothetical here. But she does raise some good questions, just in terms of Elon Musk, for right now, still the CEO of Tesla, still the CEO of Twitter. And if he's too intertwined with both those companies, the risk there that that could potentially pose or maybe already does pose for shareholders of Tesla. PRAS SUBRAMANIAN: Yeah, he owes a legal duty for his public company to treat the company as his first loyalty. You can't not to the detriment of Tesla versus Twitter. She says that-- doesn't want Musk to treat Tesla like a private plaything, right? So taking resources from Tesla. We've seen engineers going from Tesla to Twitter to help them out. That actually is considered, sort of, you're taking these resources that you owe towards shareholders, as it's a public duty. So I think she's kind of-- that's her main tack of, sort of, seeing wrongdoing potentially with Tesla and Musk and Twitter. So it's a little out of place. She's not on the board of Tesla, so she's not like a shareholder as far as I know. But I think she's sort of saying some public entities do own shareholders-- or shares in Tesla. So maybe there's some kind of, like, a way for her to inject herself as a regulator there. But it's still interesting nonetheless. DAVE BRIGGS: For those on the board, they are watching as GM and Ford and Hyundai and Kia all turn their attention towards the EV market. Are they going to start to lose market share? It's inevitable at this point. In particular, you can see-- look since late April. He sold $23 billion in shares of Tesla while the auto giants of the world are turning their attention solely towards Tesla. These are two forces that if you are on that board, you are irate, and you are beginning to be panicked. SEANA SMITH: Yeah, you certainly are. And I think just the performance of Tesla stock really just illustrates everything that's been going on. We had the three-month chart up there just a minute or so ago, and we're looking at losses of over 50% in the last three months. But that year to date chart showing that it's not that different when you take a look at the year to date performance, off just about 57%. So I think many people at this point would like to see some changes maybe to Twitter and see whether or not that helps get Tesla back on track.

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Elon Musk flags change in Twitter voting policy after ouster vote

By Ambar Warrick

Yahoo

Elon Musk flags change in Twitter voting policy after ouster vote By Ambar Warrick Investing.com-- Elon Musk said on Tuesday that only subscribers to Twitter’s Blue subscription service will be eligible to vote on future policy decisions by the platform, shortly after an overwhelming majority of users voted in favor of his ouster as CEO. Responding to a tweet suggesting he enact such a voting policy, Musk agreed and said “Twitter will make that change.” The move comes just a day after nearly 58% of 17.5 million users voted “Yes” to a poll by Musk over whether he should step down as the head of the social media platform. Musk said he would “abide” by the results of the poll. The Tesla Inc (NASDAQ:TSLA) chief executive, who bought out Twitter earlier this year, has said that all major policy decisions for the social media site will be decided by public vote. The potential limiting of only verified accounts to voting in these polls will likely reduce the number of participants. It also provides more incentive to subscribe for the verification service, which was recently relaunched by Twitter after a disastrous rollout in November, which saw a spike in impersonators and fake accounts on the social media platform. The Twitter Blue subscription service offers users a blue check on their profile and several other features, including the ability to edit tweets. Block and Mute actions by Blue users will also be incorporated into the platform as downvotes. Musk garnered renewed controversy over his buyout of Twitter after the site had last week suspended the accounts of several prominent journalists who were perceived to be critical of the Tesla CEO. The site had also suspended accounts that tracked the real-time locations of public figures, most famously one that tracked Musk’s private jet. But Twitter had then restored the journalist accounts after widespread backlash against their suspension. The site also restored the accounts tracking his real-time movements after a series of polls by Musk showed users voting heavily in favor of their restoration. The Tesla CEO has attracted ire from shareholders over allegations that he is neglecting his duties at the electric carmaker. Musk also drew flak for selling over $3 billion worth of Tesla shares last week, despite repeated assurances that he would not do so. Related Articles Elon Musk flags change in Twitter voting policy after ouster vote Wall Street falls fourth straight day as recession worries nag Australian stock exchange's blockchain failure burns market trust

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Column: Is this my last post about Elon Musk, Twitter boss?

Elon Musk promised to abide by a Twitter poll asking if he should step down as CEO. Let's all hope he keeps his promise and sets users free.

Yahoo

Column: Is this my last post about Elon Musk, Twitter boss? Back in the prehistoric era (2016), a small group of Times reporters and editors, including myself, met with Elon Musk at SpaceX headquarters in Hawthorne. Musk mostly talked about his idea of transporting humanity to Mars as an escape route from our global-warming-beleaguered home planet. This was his big hobby horse at that time. He was low-key and ruminative, almost convincing. It was plain that he had thought a lot, and caringly, about the issue. He handed out coffee mugs inscribed "Occupy Mars." People took him seriously. As the saying goes, be careful what you wish, as you might get it. Elon Musk admonishes Twitter users who voted for him to step down as CEO Flash forward six years. The Elon Musk of today seems to be angling for the trophy of World's Biggest Jackanapes. (Choose either of the following Merriam-Webster definitions: "an impudent or conceited fellow," or "a saucy or mischievous child.") We quite properly try to avoid psychoanalyzing prominent newsmakers. But Musk's role as owner and chief executive of Twitter seems to have a profound effect on his public behavior, and even on his patience. On Sunday he posted one of his informal Twitter polls, asking users whether he should step down as head of Twitter and pledging, "I will abide by the results of this poll." When the poll closed, the 17.5 million respondents voted "yes," 57.5% to 42.5%. As of this writing, he hasn't followed through on his promise, but an hour after the poll opened, he tweeted: "As the saying goes, be careful what you wish, as you might get it." He also noted that there is no post-Elon succession plan, and implied that whoever took the job must be a masochist, which would come as no surprise to anyone. Should I step down as head of Twitter? I will abide by the results of this poll. — Elon Musk (@elonmusk) December 18, 2022 Musk has often employed user polls to validate decisions he has already made. In November 2021, he asked Twitter followers to vote on whether he should sell 10% of his shares in the electric vehicle maker Tesla, the core of his personal wealth. He promised to abide by the results, in which respondents favored the sale by about 58% to 42%. As it happens, however, he had filed disclosures prior to the poll indicating that he had already committed to selling a sizable chunk of Tesla shares. Musk posted his resignation poll after a tough week in which he suspended a number of prominent journalists and commentators from Twitter, asserting inaccurately that they had posted real-time information about his personal whereabouts that he said could facilitate stalkers. He reinstated the accounts after running a poll that encouraged him to do so. He then issued a ukase banning tweets promoting several rival social media platforms, including Facebook, Instagram and Mastodon — the latter an increasingly popular refuge for Twitter users repelled by Musk's management. Within a few hours, the tweet and a Twitter page announcing the policy were deleted, possibly because of the chance that the policy would breach European Union regulations for social media firms. Musk's suggestion that he may step away from Twitter may have been prompted by the apparent effect of his adventure with the social media firm on Tesla shares. Since Musk acquired Twitter on Oct. 27, Tesla has suffered a market beating, with shares down by nearly 33%. That's part of a longer slide from the company's stature as a high-tech darling. Tesla peaked above $381 per share in November 2021, when it was one of the most valuable companies in the world, with a market capitalization of about $1.2 trillion. Tesla shares have fallen 60% since then, and 57% this year alone. Its market capitalization Monday hovered around $477 billion. The shares closed down 0.2% on Monday, but in midday trading Monday they were rising modestly, perhaps on investors' relief that by stepping down as Twitter's CEO, Musk might turn his attention back to Tesla. That would be important because Tesla faces head winds it hasn't needed to confront for several years, notably increased competition in the electric vehicle space from legacy automakers such as Ford, General Motors, BMW and Audi. They're marching into a space that Tesla long had almost entirely to itself. Tesla sales have apparently been slowing in recent weeks, possibly because of buyer concerns about the economy. But commentary abounds on Twitter from Tesla owners and prospective buyers saying they would avoid the product in the future out of distaste for Musk's outspoken swing to the political far right, as reflected in many of his recent tweets and policies. Musk's public standing may be following the trajectory of Donald Trump, another once-lionized icon who is now facing increased skepticism, even ridicule, from his onetime followers — and whose tolerance for having his whims thwarted is extremely limited. The deterioration of Musk's public image can be traced online, where he has become the subject of internet memes that treat him anything but politely. One is the scene from the German film "Downfall," about Hitler's last days in the bunker, that has been re-subtitled hundreds, even thousands, of times to show Hitler erupting in fury about Trump's losing the 2020 election, the Dallas Cowboys losing to Green Bay, even the "Downfall" parodies themselves. In the latest iteration Hitler — er, Musk — goes ballistic over the deterioration of respect for Twitter since his Oct. 27 takeover of the platform, especially after his acolytes inform him that the poll he posted about resigning as Twitter CEO "has not gone your way." He rants, "All my old supporters are turning on me, and the only ones who still like me are MAGA losers, and Russians..." (Warning: Not entirely safe for work.) Another meme, posted Sunday on Twitter itself, is captioned "nfl version of elons twitter deal." It's a clip from the final comic-opera play of Sunday's game between the New England Patriots and Las Vegas Raiders, in which Patriots running back Rhamondre Stevenson tries to evade a tackle that would end regulation time with a tie by throwing a lateral to teammate Jakobi Meyers, who laterals again — into the hands of the Raiders' Chandler Jones, who runs the gift into the end zone for a win. Whether Musk's stepping down as Twitter CEO could help arrest the platform's abandonment by users who once depended on it for curated debate is unknown. After all, he's not talking about selling Twitter or placing it in some sort of trust, insulating it from his personal eccentricities — not yet. The platform's finances are under pressure from looming debt payments and the flight of blue-chip advertisers. That could prompt Musk either to turn Twitter over to more professional management or lead him toward even more capricious policymaking in search of revenue. Back in 2016, interviewing Musk was interesting and illuminating, even if his musings about colonizing Mars were loopy in their way. Today, following Musk is like being submerged in the right-wing id. Still, Musk's CEO poll and his promise to abide by the result suggests that Twitter is on the verge of entering a new chapter. If it's a chapter without a mention of Elon Musk, that will come as a relief to many of its users and perhaps his own investors. And also to this columnist, who has been an unwilling spectator at this misadventure yet one compelled to write about almost every twist and turn. I have better things to write about, believe me. I just ... can't ... resist ... looking. ... This story originally appeared in Los Angeles Times.

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Tesla: 5 Reasons the EV Maker can Recharge its Batteries and Win Again

Tesla has been in a downtrend for much of 2022 but there are reasons to be optimistic. Valuation, earnings relative to its peers and new product launches have potential to re-ignite shares.

Yahoo

Tesla: 5 Reasons the EV Maker can Recharge its Batteries and Win Again Tesla TSLA is the leader in the electric vehicle space and has revolutionized the way we view automotive transportation. Along the way, the company has beaten the odds and silenced the nay-sayers. The stock has been one of the top performers since it came public and has done that as prolific short sellers like Michael Burry and Jim Chanos have warned investors about the company’s prospects. Furthermore, the innovators at Tesla were able to produce the first mass-market EV (Model 3), scale, and become a profitable company. As a result, investors have been rewarded handsomely, and the stock gains have propelled Elon Musk, the CEO of Tesla, to become one of the wealthiest humans on Earth. Image Source: Zacks Investment Research Pictured: TSLA shares are down 50% in the past 6 months However, bears have taken back control of the stock over the last six months. The macroeconomic environment and investor discomfort with Elon Musk’s acquisition and time spent at Twitter have weighed on shares. Below are five reasons Tesla can recharge its batteries and win again: 1. Valuation is getting attractive:Tesla’s Price to Book value is down from a high of 50 in 2021 to 11.66 today. The last time the stock’s price/book was this low was in early 2020 after the pandemic. TSLA shares went from a split-adjusted $23 to $294 over the next year. Image Source: Zacks Investment Research Pictured: Tesla's price/book is at levels not seen since the pandemic. 2. Beating the competition:Tesla continues to produce double-digit earnings and revenue growth, while competitors such as Nio Inc NIO, Rivian (RIVN), and Li Auto LI are bleeding cash and are losing money quarterly. Meanwhile, Zack’s consensus estimates expect even more growth into 2023. Image Source: Zacks Investment Research Pictured: Zack's EPS Esimates for next year are on the rise. 3. New growth drivers:Tesla expects to begin producing three significant products in 2023, including the CyberTruck, Semi, and next-generation Roadster. These new products should help drive growth. 4. When bad news is no news, no news is good news:Last week, Elon Musk sold 22 million shares of TSLA worth $3.6 billion. Despite the large share dump, Tesla’s stock has had a muted reaction – even in a volatile market environment. Musk is likely selling the shares to fund his Twitter venture. Speaking of which, Musk has hinted that he may step down from CEO responsibilities at Twitter, another potential catalyst for TSLA. Image Source: Zacks Investment Research Pictured: In recent days, TSLA has absorded Elon Musk's share sale quite well despite the turbulent market backdrop. 5. Technicals: Teslais pulling into its 200-week moving average for the first time in years. The indicator has been a good value area to buy shares in the past. TSLA shares are also pulling into a support area dating back to when the stock broke out in 2020. Image Source: Zacks Investment Research Pictured: TSLA is pulling into its 200-week moving average area and its previous breakout zone. Conclusion: Tesla shares are attractive for long-term investors who believe in the company. Despite the recent action in the stock, the company continues to execute and reap the benefits of having a first-mover advantage. Furthermore, the pullback in shares has made the stock more intriguing from a valuation perspective, while new product launches will help to ensure future growth. When buying beaten-down stocks, time frames matter, however, as bottoms can take time. Nonetheless, if you zoom out, TSLA is still in a very powerful long-term uptrend and is up 9,433.6% since inception. The risk/reward is favorable for those who can stomach the volatility. Image Source: Zacks Investment Research Pictured: TSLA has been an elite performer since inception. Can it do it again? Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report NIO Inc. (NIO) : Free Stock Analysis Report Li Auto Inc. Sponsored ADR (LI) : Free Stock Analysis Report To read this article on Zacks.com click here.

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US STOCKS-Wall Street falls as recession worries persist

Wall Street equities were in the red on Monday with Nasdaq leading declines as investors worried the Federal Reserve's monetary policy tightening campaign could push the U.S. economy into a recession. The three major U.S. stock indexes were on track for the fourth straight day of declines since Wednesday, Fed Chair Jerome Powell took a more hawkish tone than expected when the central bank raised interest rates. Powell promised further increases even as weak data showed signs of a weakening economy.

Yahoo

US STOCKS-Wall Street falls as recession worries persist (For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * L3Harris slides after $4.7 bln Aerojet buyout * Fed policy worries dominate mood * Indexes down: Dow 0.85%, S&P 1.19%, Nasdaq 1.64% (Updates to afternoon prices, adds commentary) By Sinéad Carew and Sruthi Shankar Dec 19 (Reuters) - Wall Street equities were in the red on Monday with Nasdaq leading declines as investors worried the Federal Reserve's monetary policy tightening campaign could push the U.S. economy into a recession. The three major U.S. stock indexes were on track for the fourth straight day of declines since Wednesday, Fed Chair Jerome Powell took a more hawkish tone than expected when the central bank raised interest rates. Powell promised further increases even as weak data showed signs of a weakening economy. The S&P 500, the Dow Industrials and the Nasdaq have sold off sharply for December, on track their biggest annual declines since the 2008 financial crisis. With no big earnings reports or economic data on Monday, investors focused on fears about the economy and interest rates, according to Melissa Brown, Global Head of Applied Research at Qontigo in New York. "It's a knife edge between whether we're going to teeter into a recession or have a soft landing. Is the Fed acting appropriately?" said Brown who also noted that moves may be exaggerated as many investors take vacation around the end-of-year holidays. "Investors have not necessarily changed their view in aggregate but those who have are driving the market right now and driving bigger changes in stock prices because of low trading volume," she said. By 2:27 p.m. ET (1927 GMT), the Dow Jones Industrial Average fell 278.55 points, or 0.85%, to 32,641.91, the S&P 500 lost 45.88 points, or 1.19%, to 3,806.48 and the Nasdaq Composite dropped 175.96 points, or 1.64%, to 10,529.45. The biggest sector decliners on the day were communications services, technology and consumer discretionary. The strongest sector was energy , which was last down 0.4%. Market heavyweights such as Apple Inc, Microsoft Corp and Amazon.com Inc created some of the biggest drags on the market. Trading in Tesla Inc was volatile with the electric carmaker's stock last down 0.5% after falling as much as 2.8% during the session following a Twitter poll that showed a majority of respondents want Tesla Chief Executive Elon Musk to step down as CEO of the social media platform. Meta Platforms was down 3.9% after the European Commission said it could impose a fine of up to 10% of the tech conglomerate's annual global turnover if evidence showed an infringement of the EU's antitrust laws. L3Harris Technologies Inc was down 2.8% after the U.S. defense contractor said it would buy hypersonic engine manufacturer Aerojet Rocketdyne Holdings Inc for $4.7 billion. Aerojet added 1.5%. Shares of casino operator Melco Resorts & Entertainment were down more than 9%; Las Vegas Sands Corp fall almost 2%; and Wynn Resorts fell more than 5% after Macau said on Friday that six casino firms will invest around $15 billion as part of new 10-year contracts they signed to operate in the world's biggest gambling hub. Declining issues outnumbered advancing ones on the NYSE by a 3.03-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored decliners. The S&P 500 posted 5 new 52-week highs and 17 new lows; the Nasdaq Composite recorded 45 new highs and 393 new lows. (Reporting by Sinéad Carew, Sruthi Shankar, Shubham Batra, Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Saumyadeb Chakrabarty, Maju Samuel and David Gregorio)

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Penny Stocks vs Bonds: A Beginner’s Cheat Sheet

Stocks vs bonds and how to tell which is right for you.

PennyStocks

What’s The Difference Between Penny Stocks & Bonds? The stock market is in a bear market right now. Higher inflation, fears of a recession, and a stock market crash in 2022 has shifted sentiment. With so much bearishness and volatility, some investors are looking for ways to weather the storm with lower-volatility assets. The topic of bonds has come up more frequently. In this article, we look to answer the question: What’s the difference between stocks and bonds? Stocks vs. Bonds Explained A penny stock or a stock, in general, is a type of security that signifies ownership in a corporation. It represents a claim on part of the corporation’s assets and earnings. In other words, when you own a stock, you are a partial owner of the company that issued it. It doesn’t matter if we’re talking about Tesla (NASDAQ: TSLA) or cheap penny stocks like AMC Entertainment (NYSE: AMC). Owning stock gives ownership of a company. – Penny Stocks To Buy Now? 6 To Watch With Big News Today On the other hand, a bond is a type of debt security. It signifies that the issuer owes the holder a debt. They are obliged to pay interest payments (coupons) and repay the principal (face value) at maturity. In other words, when you own a bond, you are lending money to the issuer. They are obligated to pay you back the principal plus interest. Difference Between Bonds & Stocks The main difference between stocks and bonds is the type of claim they represent. Stocks represent an ownership stake in a company, while bonds represent a debt obligation. This means that when a company does well and its stock price increases, the value of your stock also increases. In contrast, when a company issues a bond, it is essentially taking out a loan from the bondholders. So the value of the bond will not fluctuate in the same way as a stock. Instead, the value of the bond will depend on the interest rate at which it was issued and the overall level of interest rates in the market. That’s why bonds have grown in popularity as the Federal Reserve has continued raising rates. Another significant difference between stocks and bonds is the way they are traded. Stocks are typically traded on stock exchanges, such as the New York Stock Exchange (NYSE) or the NASDAQ. These exchanges bring together buyers and sellers of stocks, and the prices of stocks are determined by supply and demand. – 3 Top Biotech Penny Stocks Under $3 To Watch Right Now Bonds, however, are typically traded over-the-counter (OTC), which means that they are traded directly between buyers and sellers without going through an exchange. As a result, the prices of bonds can vary depending on the terms of the specific bond. They can also vary based onparticularcific buyer and seller involved in the trade. Stocks & Bonds: What Are The Risks? Stocks and bonds also differ in terms of the risks they carry. Investing in stocks can be riskier than investing in bonds. That’s because the value of a stock can fluctuate more than the value of a bond. This is because the value of a stock is linked to the performance of the company that issued it. Therefore, a company’s success can be affected by a wide range of factors, including economic conditions, competition, and changes in consumer behavior. In contrast, the value of a bond is more predictable. It is based on a fixed interest rate and a set repayment date. Final Thoughts On Stocks vs. Bonds Overall, stocks and bonds are two different types of securities that are commonly used by investors to diversify their portfolios and manage their investment risks. Stocks represent an ownership stake in a company and can provide the potential for higher returns. They also carry more risk. Comparatively, bonds represent a debt obligation and offer a fixed return, but they are generally less risky than stocks. More About Penny Stocks If you’re getting your feet wet with low-priced penny stocks, check out some of these articles below: - Buy Penny Stocks Like Hedge Funds Do: A How-To Guide - Making Profits With Penny Stocks, Beginners Guide - 10 Secret Ways To Find The Best Penny Stocks To Buy In 2022 [Updated] - Trading Options 101: A Beginner’s Guide - Penny Stocks: 7 Day Trading Strategies for Beginners - Are Penny Stocks Good For Beginners? [Answered] - What Are Penny Stocks? A Beginner’s Guide To Making Money Trading New To Trading Penny Stocks? If you’re interested in learning more about trading penny stocks, the stock market, and how to identify things like support, resistance, entry and exit targets, check out True Trading Group, the fastest-growing & highest-rated online premium educational platform available today. True Trading Group offers a 7-day Trial of its platform for $3 (non-autorenewing, nonrecurring): To Learn More Click Here. Want the Top Penny Stocks Picks, Alerts, News & More? It’s Free & As Easy As 1, 2, 3! - Take out your cell phone - Open your text messaging - Send a new text message with the word PENNYSTOCKS to 77567

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‘Time to end this nightmare’: Analyst Dan Ives says Elon Musk will likely step down from Twitter as company is on track to lose roughly $4 billion

Wedbush’s Dan Ives is celebrating the likely end of Elon Musk’s reign as Twitter CEO, arguing it was a “nightmare” for Tesla investors.

Yahoo

‘Time to end this nightmare’: Analyst Dan Ives says Elon Musk will likely step down from Twitter as company is on track to lose roughly $4 billion A broad bear market has taken the S&P 500 down over 20% this year, with high-growth tech stocks faring the worst as central banks worldwide raise interest rates to fight inflation. Elon Musk’s Tesla is the perfect example. The EV giant’s shares have dropped more than 62% in 2022 amid fears that demand for vehicles may wane as rising interest rates dampen global economic growth. And Tesla has been dealing with another “overhang” over the past year as well—Musk’s decision to buy Twitter for $44 billion and sell roughly $40 billion of Tesla stock. Wedbush tech analyst Dan Ives believes the acquisition was the “most overpaid” in the history of the tech space, and he argues Musk is using Tesla to fund what could be $4 billion per year of “red ink” at Twitter. But he said on Monday that there may be hope for the EV leader yet as Musk, who recently lost his title as the world’s richest person, will likely step down as Twitter’s CEO after a new Twitter poll he put out Sunday. Musk asked his more than 122 million followers if he should “step down as head of Twitter,” saying that he promised to “abide by the results,” and 57.5% responded “Yes.” If the billionaire follows through, Ives said it should allow him to refocus on Tesla. “It appears Musk's reign as CEO of Twitter will come to an end and thus be a major positive for Tesla's stock starting to slowly remove this albatross from the story,” Ives wrote. “Time to end this nightmare as CEO of Twitter.” Tesla traded up as much as 4% in morning trading, but quickly reversed its gains and is now down over 2.5%. A wild ride as CEO Musk’s Twitter takeover has been anything but boring. After a monthslong “will he, won’t he” saga, Musk was forced to buy Twitter for his initial offer price of $54.20 per share—or $44 billion—and he quickly saddled the company with billions in debt. Now Twitter has to make roughly $1.2 billion in annual interest payments, and to do that Musk has to cut costs and boost revenue. The billionaire CEO opted to launch a new $8 per month verification plan last month to help accomplish this, but things quickly went awry. Trolls took advantage of the new offering, impersonating corporations and celebrities. Ives said that the “botched” plan made advertisers “run for the hills.” And now Musk is reportedly not paying rent at some of Twitter’s San Francisco offices and selling off assets including espresso machines and sculptures in an effort to cut costs. The billionaire CEO has also received criticism for seemingly going against his free-speech agenda since he bought Twitter, firing employees who criticize him online and threatening to sue those who leak information to the media. Musk also suspended—and then reinstated—journalists who shared information about a Twitter account called @ElonJet that tracks the movements of private jets. Ives said that all of this has been “a black eye moment for Musk and been a major overhang on Tesla's stock.” But if Musk begins “reading the room” and decides to resign as Twitter’s CEO, he argues it will be “a major step forward.” Ives remains bullish on Tesla’s fundamental story, despite potential demand woes, and says shares could be worth $250 by this time next year. This story was originally featured on Fortune.com More from Fortune: People who skipped their COVID vaccine are at higher risk of traffic incidents Elon Musk says getting booed by Dave Chapelle fans 'was a first for me in real life' suggesting he's aware of building backlash Gen Z and young millennials have found a new way to afford luxury handbags and watches—living with mom and dad Meghan Markle’s real sin that the British public can’t forgive–and Americans can’t understand

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Musk to Twitter: "Do You Like Me? Y/N?"

Twitter CEO Elon Musk asked users if he should give up the top job, and the majority say he should. Who might take over as leader is unclear.

Yahoo

Musk to Twitter: "Do You Like Me? Y/N?" Twitter CEO Elon Musk asked users if he should give up the top job, and the majority say he should. Who might take over as leader is unclear. Twitter CEO Elon Musk asked users if he should give up the top job, and the majority say he should. Who might take over as leader is unclear.

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Is Tesla's 55% Stock Price Crash in 2022 Justified?

Tesla's (NASDAQ: TSLA) stock price is down big in 2022 as the electric car company faces rising competition. Is this stock price crash an overreaction by investors? *Stock prices used were the afternoon prices of Dec.

Yahoo

Is Tesla's 55% Stock Price Crash in 2022 Justified? Tesla's (NASDAQ: TSLA) stock price is down big in 2022 as the electric car company faces rising competition. Is this stock price crash an overreaction by investors? *Stock prices used were the afternoon prices of Dec.

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Elon Musk: ‘It’s time for Tesla’s board to wake up and do their job,’ investor says

Gerber Kawasaki Co-Founder Ross Gerber joins Yahoo Finance Live to discuss Elon Musk’s leadership of Tesla and Twitter, how Twitter is affecting the Tesla brand, what the board of directors at Tesla needs to do, and how he would run Tesla if he had the role.

Yahoo

Elon Musk: ‘It’s time for Tesla’s board to wake up and do their job,’ investor says Gerber Kawasaki Co-Founder Ross Gerber joins Yahoo Finance Live to discuss Elon Musk’s leadership of Tesla and Twitter, how Twitter is affecting the Tesla brand, what the board of directors at Tesla needs to do, and how he would run Tesla if he had the role. Video Transcript [AUDIO LOGO] - Tesla shares briefly moved higher this morning since turning lower, though. And that's after Elon Musk polled followers, asking if he should step down as Twitter CEO. Now, all this is multiple reports say Musk is approaching investors to help fund his purchase of Twitter, including Ross Gerber. Well, joining us now to discuss is Ross Gerber, Gerber Kawasaki Wealth Investment Management CEO. Ross, good to have you on the show. I know you've been very vocal about this roller coaster that especially Tesla stock has been on since Musk took this on. What are your expectations now? We saw a brief shadow of hope, but back to reality we're seeing in the stock price right now. ROSS GERBER: Yeah, and as far as I'm concerned, the lower it goes, the better opportunity for investors, as we're going to get resolution to this issue, I hope, the short term. And that's what I'm working very hard for. And judging by Elon's comments, I think he is looking for a CEO now. And he just wants somebody who's going to make a very large commitment to doing it and financially and emotionally and physically. So he has very high expectations in the way he wants Twitter to be run. And I think the end game has a little bit more focus now. - You could argue, Ross, you among many other investors in Tesla as well certainly pressuring Elon Musk, who you have said among many tweets that you just think this is unacceptable, that so much of the value from Tesla has been erased as a result of Elon's distraction with Twitter. I wonder what your bigger concern is here. Is it about the sale of his Tesla shares? Is it about the distraction? Is it about the brand dilution because of what he's been saying on the platform? ROSS GERBER: Well, it's really a combination of three things that have really bothered me. And that's why I've announced that I'm running for the board of Tesla. It's time for Tesla's board to wake up and do their job because the job of the board is to protect shareholders and to provide guidance to people who want to invest in the company and have confidence in its future. And they've done nothing, absolutely nothing, a disgraceful nothing, not a word from anybody. So it's time for somebody to move over and let me be there because I will do three things immediately. One is transparency. It's very important that we know what is the plan either for succession of Tesla eventually, like if Elon died, what would be the succession plan? And then secondly, what is the current short-term plan for Tesla's management and bringing Elon back to Tesla? And what is the time frame for that? Number two, there needs to be transparency with the media. It needs to be very clear to people what's actually happening at Tesla. And Tesla has done a poor job of that since Elon stop telling everybody what's happening at Tesla, as he's focused on Twitter. And I would be doing weekly press conferences with the press, including tours of gigafactories for the mainstream media, so that people would be very informed on what's happening with Tesla because it's such a really important time for them. And thirdly, I think it's crucially important that we end the stock sales or have transparency to what stock sales will or will not be happening into the future. If this is the end of the stock sales, then that should be that. And we need a standstill agreement with Mr. Musk so that he will not sell any more shares of Tesla and that investors can have confidence in buying the stock and knowing they're not going to get whacked the next day with another $5 billion share sale. So those are the three things I'm most focused on and bringing value back to Tesla and its shareholders as it goes into 2023, which will be a phenomenal year for the company. - And Ross, we know that Leo KoGuan, who is the largest, the third largest individual shareholder in Tesla, he was saying, look, Musk is our employee. We don't actually need him there at Tesla. Do you agree? Would you still be as bullish about Tesla if Musk wasn't at the helm? ROSS GERBER: I disagree with Leo. And Leo is supporting me. And I support him. And I understand his anger and frustration with Elon at the moment. But that is not the best path for Tesla. The best path for Tesla is Elon Musk working full time on building Cybertrucks, which is going to be an incredible challenge for Tesla this year as they ramp the production of a very highly complex vehicle using new materials and a new manufacturing process. Now, in my eight years at Tesla, there's one thing I can guarantee you, that ramp is for sure a big challenge. And Elon needs to be there every day in Austin making sure that this happens so I can get my Cybertruck this year. - Ross, finally, turning our attention back to Twitter, those reports that Elon Musk's seeking new investors to buy in at $54.20 a share, which is what he bought Twitter at. You've confirmed those reports. You said you've been looking into client interest as well. What does that look like right now? And what's the path forward for this company? ROSS GERBER: Well, I think there are a large amount of investors that want to invest into Elon's Twitter. And we've received inbound interest from clients and nonclients, even, who want to invest in Twitter. So there are a lot of people who believe in this vision and want to be a part of it. So I don't think that's surprising. There was very little time for investors in the first round to actually raise money because it happened kind of in a night. So now they've given us maybe two weeks. But at least I think it gives the opportunity for other institutional and individual investors, like the ones we represent, to be involved with this investment. And I'm invested in it because I do believe over the long term this will be a good investment. - Really quickly, Ross, any particular names that pop up that could follow Elon over at Twitter? ROSS GERBER: Follow Elon, like to run it? I love to see John Legere-- - Replace, replace him, replace him. ROSS GERBER: Yeah, I'd love to see John Legere at T-Mobile. He used to run T-Mobile. He's been a friend, a wonderful CEO. He's great with media. He's great with advertisers. He's great with people and branding. And I think it would be great for Twitter. And what I think Elon needs is a great partner where he could be chief technology officer and focus on technology. And then you have a CEO media guy like John Legere would be just amazing. It would be such a successful company, I think, with that kind of structure. And separating those tasks would be the correct action for Twitter. - Well, Ross, appreciate you hopping on the show today. Gerber Kawasaki cofounder and CEO Ross Gerber joining us there from LA.

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Amazon stock gives up last of its pandemic gains after almost 50% slump in 2022

Amazon shares have been battered this year by a broader market selloff tied to soaring inflation, a worsening economy, and rising interest rates.

CNBC

- Amazon shares have given up all of their gains from the pandemic. - The company's stock skyrocketed in 2020 and held up in 2021 as shoppers flocked to the e-retailer for goods. - Like the rest of Big Tech, Amazon has been battered this year by a broader market sell-off tied to soaring inflation, a worsening economy and rising interest rates. Amazon's stock price has lost all of its pandemic-fueled gains, falling back to where it was trading when Covid-19 started shutting down the U.S. economy. On Monday, the e-retailer's shares dropped 3.4% to $84.92, the lowest close since March 16, 2020. Amazon has fallen sharply this year amid a broader tech sell-off tied to soaring inflation, a worsening economy and rising interest rates. For the first time in nearly two decades, the tech-heavy Nasdaq Composite is set to lose to the S&P 500 in consecutive years. Trillions of dollars have been wiped from tech stocks. Shares of Amazon have tumbled 49% in 2022 and are on pace for their worst year since the dot-com crash of 2000, when the company lost 80% of its value. Among the highest-valued tech companies, Meta has had the worst year, down 66%, followed by Tesla at 57% and then Amazon. It's a marked reversal from 2020, when Amazon stock rallied amid unprecedented online demand. Amazon saw a rush of orders from consumers at the height of the pandemic, as many avoided trips to physical stores and turned to the web for essential and nonessential goods. Last year, the story began to change, as e-commerce companies reckoned with tough year-over-year comparisons and the economy started to reopen, leading many people to return to physical stores. By early 2022, higher costs tied to inflation, supply chain constraints and the war in Ukraine generated further pressure on Amazon and other tech companies. For Amazon, the challenges go deeper. It's also contending with slowing growth in its core retail business, and the company has been forced to scale back after its historic expansion during the pandemic. CEO Andy Jassy has embarked on a wide-ranging review of the company's expenses, resulting in some programs being shuttered and a hiring freeze across its corporate workforce. Last month, the company began laying off thousands of employees as part of a wave of job cuts that are expected to extend into next year. The pain isn't likely to let up soon. Amazon spooked investors in October when it projected sales between $140 billion and $148 billion for the current quarter, representing growth of just 2% to 8%. That was far below analysts' average forecast of $155.15 billion, according to Refinitiv. WATCH: Amazon CEO Andy Jassy on shifting consumer spending habits

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The Westly Group's Steve Westly on Musk's Twitter poll: He's looking for a way out to focus on Tesla

Steve Westly, Westly Group, joins 'Closing Bell: Overtime' to discuss Elon Musk's Twitter poll and his time as CEO of the company.

CNBC

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Oppenheimer downgrades Tesla stock, calls sentiment 'severely damaged' on Musk drama

Investors and the media are following Tesla CEO Elon Musk’s plans for Twitter closely, but one Wall Street firm has had enough.

Yahoo

Oppenheimer downgrades Tesla stock, calls sentiment 'severely damaged' on Musk drama While investors are on edge awaiting the latest from Tesla (TSLA) CEO Elon Musk’s plans for Twitter, one Wall Street firm has had enough. Oppenheimer analyst Colin Rusch downgraded Tesla stock to Perform from Outperform in a note to clients published Monday morning, saying challenges regarding Twitter have left sentiment towards Tesla shares "severely damaged." Since Musk took ownership of Twitter in late October, Tesla shares are down about 30%. "The combination of Twitter's unclear cash needs and diminishing options for Mr. Musk to serve those needs amid the broad public backlash driven by inconsistent standards application for Twitter users, notably banning select journalists, is pushing us to the sidelines on TSLA," Rusch wrote in a note to clients. "We believe increasing negative sentiment on Twitter could linger long term, limiting its financial performance and become an ongoing overhang on TSLA." Rusch's downgrade comes after an eventful weekend for Musk's leadership at Twitter, which resulted in a surprise poll from the billionaire on Sunday, which asked users whether he should step down as head of the social media company. Musk said he would abide by the results, which did show a majority support Musk leaving the top spot. Should I step down as head of Twitter? I will abide by the results of this poll. — Elon Musk (@elonmusk) December 18, 2022 Rusch added: “We see potential for a negative feedback loop from departures of Twitter advertisers and users due to inconsistent standards resulting in increased financing needs that may lead to incremental TSLA sales just as Tesla's competitive environment intensifies." Those increased financing needs may have led Musk to sell 22 million shares of Tesla stock last week, worth around $3.6 billion. The overhang from those share sales sent Tesla shares tumbling 16% last week. Reports over the weekend also said Musk is seeking additional equity investors for Twitter. Tesla shares were down more than 2% early Monday. Rusch, however, believes it's not just the threat of large stock sales weighing on the stock, it's Elon Musk’s continued polarizing presence at Twitter that is damaging the Tesla brand. “While we have understood Twitter’s potential cash needs as a risk for TSLA shares, we believe banning journalists without consistent defensible standards or clear communication in an environment where many people believe free speech is at risk is too much for a majority of consumers to continue supporting Mr. Musk/TSLA, particularly people ideologically aligned with climate change mitigation,” Rusch wrote. Rusch is not bearish on Tesla from a pure technology and expertise point of view, however. The firm believes Tesla is still driving down costs for EV manufacturing in the long term, and other manufacturers will struggle to match its efficiency. Moreover, Rusch sees this split between Musk's public drama related to Twitter and Tesla's actual business creating plenty of opportunity for investors. "We expect TSLA to present myriad trading opportunities long and short," Rusch wrote. "We believe sentiment is severely damaged and that any positive fundamental news near term will likely lead to select short covering followed by subsequent re-shorting." — Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram. Click here for the latest trending stock tickers of the Yahoo Finance platform Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

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Ford Earnings Miss After Leaving $2 Billion On The Table; F Stock Falls

Ford earnings missed Thursday sending F stock lower after hours. The automaker updated its Mach-E EV pricing and production strategy.

Yahoo

Ford Breaks Down On Q4 Earnings Miss After GM's Beat-And-Raise Ford earnings missed Thursday sending F stock sharply lower. The automaker updated its Mach-E EV pricing and production strategy. Ford earnings missed Thursday sending F stock sharply lower. The automaker updated its Mach-E EV pricing and production strategy.

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Cathie Wood says AI will power the 'most massive productivity increase in history'

Cathie Wood of ARK Invest says AI will trigger an "astounding and shocking" surge in productivity.

Yahoo

Cathie Wood says AI will power the 'most massive productivity increase in history' Wood also isn't investing in AI directly. Cathie Wood has a new thing to be bullish about, thanks in part to the public's recent infatuation with ChatGPT. The generative AI chatbot has sparked huge public interest in artificial intelligence, spurring hand-wringing over the possibility of bot-written term papers, amusement over bot-composed fiction, and renewed interest in Microsoft’s Bing search engine. But the real promise of new-wave AI technologies is their ability to make work more productive, says ARK Invest’s Cathie Wood. “AI is going to enable the most massive productivity increase in our history,” she told Yahoo Finance Live. "The productivity gains are going to be astounding and shocking." OpenAI's ChatGPT helped @ARKInvest's marketing team craft this tweet to fit within 280 characters. ChatGPT also poses a threat to Google Search, as AI continues to disrupt the FANG's. AI, TikTok's secret sauce, has attracted significant mindshare from Meta and Netflix. https://t.co/0RZdjzOdCP — Cathie Wood (@CathieDWood) December 29, 2022 The consumer-facing part of ChatGPT might have entered the brunch conversation, a bigger effect will be on professional coders, Wood and her team wrote in their “Big Ideas 2023” report. AI “is catalyzing all kinds of changes in all kinds of industries, and I don’t think that investors have done enough research on how profound this impact is going to be," the report said. "I think the market’s scrambling to try and understand how AI is going to impact the world.” ARK's report projects some big numbers: “AI should increase the productivity of knowledge workers more than 4-fold by 2030. At 100% adoption, AI could increase global labor productivity ~$200 trillion, dwarfing the ~$32 trillion in total knowledge worker salaries.” This projection is by no means a sure thing, with the technology in its infancy and the forecast built on a lot of assumptions. The technology has already faced controversy over programmed-in racial bias, for example, and ChatGPT's compositions are frequently littered with inaccuracies. On the flip side is the concern that artificial intelligence will replace human jobs. Eric Brynjolfsson, director of the Stanford Digital Economy Lab, has written about the “Turing Trap” of AI replacing workers instead of augmenting and assisting them, triggering increased inequality. Wood is taking an indirect investment approach There’s the big question of how AI could change global economies and cultures, and then the question of where investors can look to take advantage of its growth. You won’t find any companies with “AI” in the name in Wood’s benchmark portfolio (ARKK). Rather, she’s been looking at companies that integrate artificial intelligence and data analytics into their operations. Wood highlighted her ETF’s top holding – Tesla (TSLA) – as one example. It has one of the “largest pools of real-world driving data in the world. So we believe that it will be in the pole position for the autonomous taxi platform opportunity, which is a software as a service opportunity with massive margins.” Exact Sciences, another of Ark’s top holdings, is using AI to analyze medical data to try to detect cancer, she said. ARK is betting these long-term big ideas will reignite returns. While Wood emphasizes that her firm operates on at least a five-year investment horizon, it had a brutal 2022, plunging 67% following a dizzying rise in 2020 and early 2021. “We believe that chapter is over. You never say the coast is clear – there are always risks. But we think we’re on the other side of the most difficult time that innovation-oriented strategies have ever had.” Julie Hyman is the co-anchor of Yahoo Finance Live, weekdays 9am-11am ET. Follow her on Twitter @juleshyman, and read her other stories. Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

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Ford sinks after Q4 profits miss expectations, CEO says $2 billion left on the table

Ford shares sunk late Thursday after the automaker reported profits for the fourth quarter and full-year that missed Wall Street expectations.

Yahoo

Ford sinks after Q4 profits miss expectations, CEO says $2 billion left on the table Ford (F) shares sunk late Thursday after the automaker reported fourth quarter profits that missed expectations and CEO Jim Farley said the company "should have done much better last year." Ford reported quarter adjusted EBIT — or earnings before interest and taxes — of $2.6 billion, missing Wall Street expectations for $3.45 billion. On a per-share basis, adjusted profits also missed expectations, coming in at $0.51 against analyst forecasts for $0.62. Ford shares were down as much as 8% in after hours trade on Thursday. For the quarter, Ford reported; Revenue: $44.0 billion vs. $39.9 billion expected Adjusted EPS: $0.51 vs. $0.62 expected Adj. EBIT: $2.6 billion vs. $3.45 billion expected The revenue figure represents a 17% jump compared to a year ago, where Ford was still struggling with component and chip shortages. On the profitability front, Ford reported full year adjusted EBIT (earnings before interest and taxes) of $10.4 billion, below prior guidance of $11.5 billion. "We should have done much better last year," Ford CEO Jim Farley said in a statement. "We left about $2 billion in profits on the table that were within our control, and we’re going to correct that with improved execution and performance." Ford announced a 2023 full-year EBIT forecast of $9 billion to $11 billion; the consensus estimate was for around $10 billion. Ford also declared a first-quarter regular dividend of 15 cents per share and a supplemental dividend of 65 cents per share, which reflects the company monetizing its stake in Rivian. Last quarter, Ford CFO John Lawler noted some of customers were hesitating at higher sticker prices, and using longer-term loan financing to ease monthly payments. Lawler also said Ford was seeing customers passing on higher trim levels in order to purchase more affordable vehicles. The street expected Ford to have a strong quarter following GM’s monster Q4 performance, where the automaker reported a huge profit beat and record revenue. GM also hit the top end of its full-year 2022 EBIT forecast, and also guided its full-year 2023 higher than analysts were expecting, seeing $11.5 billion in EBIT this year. Investors will be watching for any more color on demand issues creeping up for Ford due to slower macro conditions and higher interest rates. Ford said in its earnings release that potential headwinds it sees include "a mild recession in the U.S. and moderate recession in Europe; higher industrywide customer incentives, as vehicle supply-and-demand rebalances; a lower profit from Ford Credit." On the flipside, Ford said it sees potential tailwinds like "supply chain improvements and higher industry volumes; launch of the all-new Super Duty truck; and lower costs of goods sold, including for materials, commodities, logistics and other parts of the industrial platform." This story is developing. — Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram. For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

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AMC Finds Wiggle Room To Swap Debt For Stock; Shares Surge 10%; Are Meme Stocks A Buy?

Meme stock AMC has made clever moves to revive its floundering share price and mounting debt. The movie theatre chain may be able to reduce debt to zero by converting its preferred equity "APE" units to common stock. Converting preferred equity to common stock is not unusual but it may be tough to get shareholders to approve of the conversion.

Yahoo

Bed Bath & Beyond Is Back From The Dead At Overstock.com. Are Meme Stocks A Buy Now? The bankrupt meme stock is also selling its stores to three retailers. Meme stock GameStop broke out of a cup base with a buy point of 27 on Tuesday. On June 13, meme investor and GameStop's new chairman Ryan Cohen purchased 443,842 shares of GME stock through RC Ventures for a total of $10 million.

TSLA

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Auto sales: 'Inventory is still going to be the name of the game,' strategist says

Jessica Caldwell, Edmunds Executive Director of Insights, joins Yahoo Finance Live to discuss automaker earnings, car inventory, EV sales, and Tesla's competitive lead.

Yahoo

Auto sales: 'Inventory is still going to be the name of the game,' strategist says Jessica Caldwell, Edmunds Executive Director of Insights, joins Yahoo Finance Live to discuss automaker earnings, car inventory, EV sales, and Tesla's competitive lead. Video Transcript [AUDIO LOGO] DAVE BRIGGS: Welcome back to Yahoo Finance Live. Expectations are high for Ford ahead of earnings, which report after the bell. We just heard from General Motors earlier this week. The company handily beat Wall Street expectations, said it has no plans to cut prices on its electric vehicles yet. So what lies down the road for the auto industry? Let's talk about that with Edmunds Executive Director of Insights Jessica Caldwell. Jessica, nice to see you. Ford out with their sales numbers. Down 18.4% from the prior month. Now, January is usually a rough month for auto sales, but does that tell you, perhaps, that 2022 dynamic has changed this year? JESSICA CALDWELL: I don't think so. December is generally the best month for auto sales. January is usually the worst. So I would never really compare those two. And I think that for 2023, inventory is still going to be the name of the game. As that increases, sales should get better. Because they are very limited. I mean, we're still-- although, recovering and have been for several months now-- still very much down from what we would consider at a normal pace for inventory. SEANA SMITH: Earlier today, Cathie Wood was on Yahoo Finance. We know, obviously, she's a long time believer in Tesla. We asked her about the recent price cuts. I want to play a quick bite from her and then get your reaction. CATHIE WOOD: I think traditional auto manufacturers are going to have trouble keeping up with the price declines that Tesla's technology is enabling. SEANA SMITH: Do you agree with that? JESSICA CALDWELL: I mean, I think, right now, that probably is the case. Tesla is still almost 60% of all new EVs sold. So, in any event, they're going to be something big to contend with. As time goes on and more of these automakers are introducing EVs, especially if we do not get some updates from Tesla, having a Tesla is no longer the latest and greatest thing, and there'll be more out there in the market, more to compare it with. Someone else is going to come along and be the cool new person on the block. And that really appeals to early adopters. So while I think they are obviously a big force to deal with in this market, things are changing. DAVE BRIGGS: GM, really, as we said, took a pass on following in those price cuts. Do you think those price cuts from Tesla will spread throughout the industry, or others will more follow GM's lead? JESSICA CALDWELL: I don't think so. I mean, I think price war is a real sexy thing to say. However, there's just not inventory to have a price war. I mean, if we look at what General Motors has, there's really not a lot there. There's a Bolt. There's a Hummer. And what they have coming this year that is even in the realm of competing with the Tesla Model Y, it's new, and it's probably gonna be limited by inventory. So I don't think that even-- price cut probably doesn't even need to be addressed there. I think Ford, the Mustang Mach-E being a natural competitor-- something that's been in the market for a little while-- to the Model Y, I could see why that would make sense. But even those price cuts were not necessarily very dramatic across the board. There were a few trim levels. But I do think that automakers will be looking at their pricing strategies and making sure that they could come in-- or have some models if possible to come in within the federal tax credit limits. SEANA SMITH: Jessica, what are you seeing in terms of traffic on Edmunds? We just had a few numbers up there, but, overall, after the price cuts from Tesla, how much did some of that interest, did that demand spike on your site? JESSICA CALDWELL: It definitely spoke-- it definitely spiked a lot. I think whenever you have someone like Tesla-- and the thing about Tesla's announcement was that it was very atypical in the sense that incentives are usually very targeted. When they come out and you say something like 20% for every vehicle, every region, that applies to everyone out there versus a specific location, a specific vehicle, a specific trim level, which is very different. So we saw the traffic pretty much double in terms of Tesla's share on our site as people were thinking, wow, maybe now is time to get a good deal. Let me research that. DAVE BRIGGS: As people do begin to look for new models in particular in the EV space, you have some advice before they begin that process. What is it, Jessica? JESSICA CALDWELL: Well, I mean, I think pricing obviously is a big one. Do the vehicles fall within these price limits? Because we do know that in March, the IRS is likely to issue guidance on mineral components, battery components, and that could change up that strategy. So if you are in the market in the short term, I think you really have to think about what's out there. Can you still get that credit? And I think that that would be really important. Another thing to keep in mind is really interest rates. Those are going up. In the fourth quarter, people were paying-- I mean, we're closing in on a 7% interest rate on new car loans, which is obviously crazy because they've not been that high in quite some time. And you really have to factor that in when you are considering that most vehicles, at this point in time, are-- they're transacting at over $40,000. So a lot of money we're talking about now. SEANA SMITH: Jessica, if you're one of those Tesla owners, you're a little bit upset because you bought before the price cuts. What's your advice to those people? Should they hold on to their Teslas? JESSICA CALDWELL: Well, I think that used values, of course, it doesn't feel good for that to happen, but it's only going to affect you if you want to sell it soon. So all those people that were thinking, let me buy this vehicle and flip it, which we saw a lot last summer when used values were just going off the charts, hopefully people are not doing that come December. But if you are one of those people that just bought a Tesla, if you're going to drive it for many years and keep it for a long time, these price cuts shouldn't affect you too much. It's just I think if you were going to sell it in the short term, that probably wouldn't be a great idea. So keep and hold I know doesn't sound as fun, especially as these people generally want something probably every-- in a faster cycle than the norm, but I think that probably would be the best way to mitigate these price cuts. DAVE BRIGGS: Jessica Caldwell from Edmunds, thanks so much.

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Ford Motor Co. boosts top-selling electric vehicle (EV) production, cuts Mach-E prices

Ford’s growing market share in the electric vehicle space and its desire to take on Tesla could bode well for BlueOval City.

Yahoo

Ford Motor Co. boosts top-selling electric vehicle (EV) production, cuts Mach-E prices Ford’s growing market share in the electric vehicle space and its desire to take on Tesla could bode well for BlueOval City. Ford’s growing market share in the electric vehicle space and its desire to take on Tesla could bode well for BlueOval City.

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Google: My Top Anti-Bubble Pick

After Q4 earnings, Alphabet Inc. remains the cheapest name in my beaten-down 4. See why I think it may be a while before we get deals like this for GOOG stock again.

SeekingAlpha

Google: My Top Anti-Bubble Pick Summary - With tech and IT obliterated and energy gravitated, we are in a tech anti-bubble. - Google stock remains the cheapest name in my beaten-down 4. - With the S&P 500 forming its first Golden Cross since the downturn in stocks, it may be a while before we get deals like this again. The anti-bubble quartet In previous articles addressing the "anti-bubble" framework used by Nick Sleep and Qais Zakaria in the Nomad Letters, this is something I have used as a foundation for happy value hunting. Whilst energy was down in 2020-21, tech was soaring. Now the tables have turned and we should turn to tech to hunt. While energy is certainly not a bubble based on current fundamentals, the underlying cyclical commodity from which they profit may have hit a peak. On the other hand, digital advertising and e-commerce are seeing a downturn leading to a sell-off in my favorite tech names. The quartet includes Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL) ("Google"), Amazon (AMZN), Meta Platforms (META), and Microsoft Corporation (MSFT). I would throw Apple Inc. (AAPL) in there as well, but that chart is still defying gravity. All of these companies are the cream of the crop when we look back at what management has demonstrated in the allocation of capital. This is easily seen through the lens of ROIC and high-profit margins; when a segment of the market gets hit, I don't have to look far. Give me the best-managed companies at a fair discount to the historical averages. Although META stock has fallen out of my top-end price range of $146, Google is still squarely in it. Alphabet Inc. stock is a buy. Although I'm no chartist, the Golden Cross for the S&P 500 (SP500) is forming, and all boats may be lifted for some time. I hope my chance to accumulate lasts a little longer. Alphabet's story 'til now Alphabet Inc., like Meta, derives a lion's share of its earnings from digital ad revenue. It is my opinion, that until some amazing VC comes up with an acceptable way to put a chip in our heads and beam ads directly to us, digital advertising will continue to grow. Yes, we should expect a pullback in all company marketing expenses when the economy slows, but when it snaps back, look out. Google and Meta will be on a hiring spree again once that fulcrum hits. Top line numbers for Alphabet Inc. are still growing on a TTM basis while the bottom line is slowing. Non-GAAP earnings are still growing as well on the other hand. Google's digital advertising businesses have become so dominant and effective that they are now being sued by the U.S. Government to break up their monopoly. While this is a risk, it is also a reaffirmation that Alphabet has the crème de la crème digital ad portfolio. When the government calls you out, you know you've made it! Hot off the presses, you can also find the Q4 2022 Alphabet top-line numbers above. Total revenues came in slightly ahead of 2021, with ad revenue down a couple of billion dollars and cloud services up a couple of billion to offset that decline. All in all, Google revenue is flat, with the most positive item being the growth in cloud services revenue up 32% yoy. Even with the news of layoffs at Alphabet, they still ended 2022 with 33,734 more employees than in 2021. Management effectiveness Warren Buffett has said on more than one occasion that effective management, creates value with their retained earnings: "For every dollar retained, make sure the company has created at least one dollar of market value." In the case of Alphabet Inc., it has one similarity to Berkshire Hathaway (BRK.B, BRK.A) in that returns to the investor are through retained earnings and the growth of their holdings and businesses. Neither pays a dividend, so we have to trust them with their capital allocation decisions. Very few stocks without a dividend are even worth buying. This, like Berkshire, is one of them. Market cap to retained earnings ratio Charting out the ratio between market value and retained earnings is rather easy. Since retained earnings is a cumulative number on the balance sheet, the most recent TTM number will be your total retained earnings number. Even with the drop, if we look at Alphabet's cumulative retained earnings of $191.48 Billion and a market cap of $1.387 trillion, we get a market cap to retained earnings ratio of 7.26. In other words, over time Alphabet's management has created $7.26 of market value for every dollar of retained earnings. The retained earnings value creation number is astounding. However, Alphabet, Amazon, Meta, and Microsoft also have a secret weapon, an expense called R&D. This is listed as an operating expense, but in essence, is also a part of retained earnings. They get to expense this item, and then you as the investor reap the fruits of the businesses that it spawns from the research and development. Mohnish Pabrai likes to use a framework addressing these companies as "spawners" - and I certainly concur with the analogy. While much of the market value of Alphabet Inc., especially at its peak capitalization, was based on a bubble mentality, you still had the option of realizing a huge return if you chose to do so. Sometimes, promotion and product perception can add as much value as effective capital allocation. Tesla, Inc. (TSLA) is a good example of this. ROIC Including both the debt and equity of the business, ROIC (return on invested capital) is Joel Greenblatt's favorite metric for effective management. According to my brokerage, Alphabet has a return on assets of 22.4%, a return on equity of 32%, and a return on invested capital ROIC of 28.94%. Throw in a gross profit margin of 56.9% and a net of 30% and you can see how Alphabet management has created so much value for its investors with their retained earnings, R&D investments, and acquisitions. This is blue-chip management team through and through. Valuation In my previous article on Alphabet Inc., I used a standard trailing PEG ratio incorporating GAAP earnings to create a price target. At the time, the existing data indicated a GAAP earnings growth rate of 22.74%. Therefore, I used 22.74 as the multiplier and the GAAP EPS as a multiplicand to get my low-end price target of around $96. We can see in the GAAP instance that growth for the TTM is trending lower than the previous year, but if we look at Non-GAAP EBITDA, Google is still growing. The TTM EBITDA numbers for Google/Alphabet are at $93.733 Billion. With 13.242 Billion shares outstanding, that equates to $7.078 in EBITDA per share. The EBITDA CAGR, incorporating the TTM as our terminal value to end 2022, would equal a trailing 5-year growth rate of 17.8%. Using 17.8 as a multiple and $7.078 as our multiplicand, we get a price target of $120.89. This is getting toward our upper-end, but still within value parameters. In spawners with lots of R&D and tax benefits, the non-GAAP under-the-hood methods are my preferred method. Although growth has slowed a bit from my last article, where I pegged the upper-end based on EBIT growth at $143, the price still fits value within the reduced price target. Balance sheet trends The Alphabet balance sheet hasn't changed much since my last article. Still loads of cash at $116 Billion, a debt-to-equity ratio of 11.57%, and a current ratio of 2.52 X. With this enormous cash balance, it certainly helps me sleep well at night knowing the Alphabet will never be in a cash crunch regardless of interest rates. How many stocks do you hold where you could say the same? Truth is, there are only a handful of stocks whose balance sheets I feel supremely confident in, and Google/Alphabet is one of the few. Cash flow trends With a TTM free cash flow ("FCF") of just over $62.5 Billion, the rich get richer. With TTM EBITDA for Alphabet at $93.733 Billion, that's an EBITDA to FCF conversion ratio of 66%. The CAGR in free cash flow from 2018 to TTM is over 22% per annum, more evidence that management is doing an amazing job to help us relax and hold with confidence. Catalysts TikTok ban. While ad revenue and earnings beating estimates are great, a banning of rival TikTok would be all too juicy for the market to digest. The issue is now getting bipartisan support on the Hill. TikTok, owned by China's ByteDance, should be removed from app stores run by Apple Inc and Alphabet's Google because the short video social media app poses a risk to national security, Senator Michael Bennet, a Democrat on the intelligence committee, said in a letter dated Thursday. An all-out ban of the TikTok app would leave Alphabet and Meta as the chief candidates to absorb the business that would be left in TikTok's wake. Both have been optimizing their short video products to match. There should be enough business out there for both to have a nice lunch. Risks There is an anti-trust lawsuit to break up Google's "monopoly" on digital advertising. Below is a summary of the lawsuit. Filed in the U.S. District Court for the Eastern District of Virginia, the complaint alleges that Google monopolizes key digital advertising technologies, collectively referred to as the “ad tech stack,” that website publishers depend on to sell ads and that advertisers rely on to buy ads and reach potential customers. Website publishers use ad tech tools to generate advertising revenue that supports the creation and maintenance of a vibrant open web, providing the public with unprecedented access to ideas, artistic expression, information, goods, and services. Through this monopolization lawsuit, the Justice Department and state Attorneys General seek to restore competition in these important markets and obtain equitable and monetary relief on behalf of the American public. What would a breakup of Alphabet look like? Nobody knows. A slew of spinoffs as from the old AT&T (T) (Baby Bells), maybe. Either way, the digital advertising businesses of Google/Alphabet are invaluable and would receive a much higher multiple to EBITDA than what we pay for Google stock currently in my opinion. Investors will be compensated one way or another. Plus adept lobbyists are certainly working while we speak with defense attorneys hand in hand. I'm not extremely worried, but the price could suffer from perception if action is taken and Google flat-out loses the suit. Conclusion Alphabet Inc. remains one of the best-managed businesses in the world. CEO Sundar Pichai has done wonders, maintaining high-profit margins and ROIC with a lot of sharks in the water. I have moved my focus from energy to tech as my anti-bubble of choice. I do fear that the window may be closing without being able to accumulate enough, but there are certainly worse things in the world than that. I remain unconstrained in where I hunt, and adore value wherever it may be. Google is my favorite anti-bubble stock because it has the strongest balance sheet of the bunch plus one of the more modest GAAP and Non-GAAP valuations. Not as cheap as it used to be, but I reiterate buy for GOOG with a PT of $120. This article was written by Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOGL, GOOG, AMZN, MSFT, META, AAPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comments (47) The first problem is they went from only hiring people with PHDs to a bloated big company. The second problem is they took sides in politics and social issues and alienated a large number of customers. The third problem is their business model relies on spying on their customers which people are becoming less and less accepting.

TSLA

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Investing in Penny Stocks? Do These 3 Things Before You Buy

Before investing in penny stocks, take a look at these 3 things

PennyStocks

3 Things All Penny Stock Investors Need to Know Investing in penny stocks is hard. And, making money with penny stocks is even more challenging. But, for those who are determined and willing to do the work, it can be very worth it. Now, there are a few things that all those who want to invest in penny stocks need to know. And we’ll get into that in great detail. However, now, investors need to understand the current trends. First, we have the effect of social media on the entire stock market. With Robinhood and Reddit working in tandem to support retail investors, finding and buying penny stocks has never been easier. However, finding penny stocks on Reddit and Robinhood can have ups and downs. On the one hand, these cheap stocks tend to be highly volatile. This is due to the nature of stocks under $5 and the intense speculation. But, using social media to find penny stocks for your watchlist can be a great tool if you follow the next step.[Read More] Trading Penny Stocks? 7 Things to Know For Beginners The next step is research. We cannot stress this enough. Research will always be the core difference between a profitable and unprofitable portfolio. This is something that all pro traders will tell you is arguably one of the most critical steps. So, with these two things in mind before we go any further, learning how to invest in penny stocks can be an enjoyable experience. If you’re debating it, here are three things you need to consider. 3 Things to Know When Investing in Penny Stocks - Getting a Trading Education - Understanding Volatility as an Advantage - Creating a Penny Stock Watchlist 1. Getting a Trading Education One of the most valuable things any trader can do is educate themselves on how to trade penny stocks. This ties into the research stage; however, there are some nuances. For one, a trading education takes time. Yes, it includes understanding the basics, but there are more advanced factors to consider. This could be anything from trading patterns and knowing how to enter and exit a position, as well as others. In line with this, traders need to know what type of traders they are. For example, looking at daily technical indicators may not be necessary if you only intend to buy and hold long-term positions in penny stocks. However, if you wish to swing trade or buy and sell penny stock quickly, using these indicators will be crucial to trading. Understanding what makes the market and specific penny stocks go up and down is extremely important. And plenty of online resources allow you to get a trading education. Beware that this is not a five-minute process. Learning the ins and outs of buying penny stocks takes time and dedication. You wouldn’t trust a surgeon who learned how to perform surgery in a few days? So why would you trade without knowledge of what to look for? New To Trading Penny Stocks? If you’re interested in learning more about penny stocks, the stock market, and how to trade, check out True Trading Group, the fastest-growing & highest-rated online premium educational platform available today. True Trading Group offers a 7-day Trial of its platform for $3 (non-autorenewing, nonrecurring): To Learn More Click Here. 2. Understanding Volatility as an Advantage Volatility is one of the main benefits that penny stocks can offer. Because stocks under $5 move up and down frequently, many traders use these securities to capitalize on short-term gains. However, on the other hand, volatility can be a significant downside for those who don’t know how to use it. When first trading penny stocks, it can be easy to watch your portfolio go from green to red quickly.[Read More] 3 ‘Must Haves’ For Penny Stocks to Be Worth Investing In Most new traders lean toward the largest movers of the day or popular penny stocks on Reddit or other social media sites. However, this puts you at a major disadvantage to traders that know how to use volatility and what to look for. So, what do you need to look for when using volatility as an advantage? Well, the number one aspect to consider is speculation. Speculation is a somewhat all-encompassing term that describes any external factor affecting a penny stock. This could be news, press releases, balance sheets, industry-wide announcements, or anything similar. While we like to think that penny stocks trade on fundamentals alone, in reality, speculation accounts for most of the moves that a penny stock will make. Because of this, having access to real-time news software will always be your best friend. In addition, investors can look at the industry a penny stock is in and see what that specific market is doing in the present and the future. This is the best way to avoid unexpected moves in your portfolio. Additionally, investors should understand a wide range of technical indicators. This plays into the section above on having a trading education. So, if you combine technical indicators with an understanding of speculation, finding penny stocks to buy can be easier than previously imagined. 3. Creating a Penny Stock Watchlist We’ve covered this topic numerous times in the past few months. But, if you’re unfamiliar, let’s take another look. Creating a penny stock watchlist is the best way to prepare yourself for trading. While it may sound complicated, there are a few techniques to make the process as easy as pie. The first is setting up a scanner. This can be done on popular trading platforms like ThinkOrSwim and via online resources as well. Investors can input information on different trading platforms, such as volume, long-term trends, industry, technical indicators, and more. This will then spit out a list of stocks based on your parameters.[Read More] Fed Meeting Live: 10 Takeaways From 1st 2023 FOMC Meeting & Statement Are Penny Stocks Worth It? All of this information is only helpful if you put it to use. Learning how to trade penny stocks will be the best way to avoid losing money in your portfolio. However, because penny stocks are so volatile, there is always a chance to do so. And while penny stocks have gotten a bad rap over the past few decades, the reality is that there are plenty of valuable companies under $5 out there. However, knowing how to find them and which ones are worth it is up to you.

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Mercedes Just Beat Tesla To a Key Electric Vehicle Milestone

Tesla might be the loudest in the room when talking about driverless cars, but Mercedes claims it just beat Tesla at its own game. With a starting price at $105,450, it was ranked eighth for luxury electric vehicles (EVs) by Car and Driver, behind Lucid's Air, several of the Porsches, the Tesla model S and the BMW i7. While folks fawn over the Cyber Truck and the latest new EV, Mercedes has been hard at work developing the inside of its cars -- specifically, its autonomous driving capabilities.

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Mercedes Just Beat Tesla To a Key Electric Vehicle Milestone Tesla might be the loudest in the room when talking about driverless cars, but Mercedes claims it just beat Tesla at its own game. With a starting price at $105,450, it was ranked eighth for luxury electric vehicles (EVs) by Car and Driver, behind Lucid's Air, several of the Porsches, the Tesla model S and the BMW i7. While folks fawn over the Cyber Truck and the latest new EV, Mercedes has been hard at work developing the inside of its cars -- specifically, its autonomous driving capabilities.

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Cathie Wood on Tesla price cuts: Rival EV makers will 'have trouble keeping up'

Tesla's price cuts will make it harder for everyone else in EVs, says longtime bull Cathie Wood.

Yahoo

Cathie Wood on Tesla price cuts: Rival EV makers will 'have trouble keeping up' Tesla (TSLA) bull Cathie Wood doesn't see the EV maker's recent price cuts as damaging the brand. Instead, they may be more of a problem for automakers trying to close the gap, she contended. "I think traditional auto manufacturers are going to have trouble keeping up with the price declines that Tesla's technology is enabling," the ARK Invest founder said on Yahoo Finance Live (video above). Wood believes the price cuts stem from Tesla's cost leadership position in battery technology. Tesla remains the largest holding in Wood's closely followed ARK Innovation ETF (ARKK). Elon Musk "absolutely chose the right technology, and I think others are rethinking it now," Wood said. “If they do not switch over to this kind of battery technology, they will not be able to catch up with Tesla in terms of price declines without losing money — whereas Tesla’s gross margins are probably going to continue moving up on balance, even as it is cutting prices because its unit volumes, the economies of scale, are going to be so significant." In early January, Tesla cut the Model 3 base version by $3,000 to $43,990. The Model 3 Performance variant saw a price cut of $9,000 to $53,990. Tesla also dropped the price for the Model Y Long Range by $13,000 to $52,990 while the Performance model was cut to $56,990, about $13,000 cheaper than the prior price. EV rival Ford (F) followed with price cuts of its own to better compete with Tesla. Though GM's (GM) CFO Paul Jacobson told Yahoo Finance this week that he has no plans to cut prices for EVs. To Wood's point, the price cuts appear to have led to renewed demand (and perhaps market share gains) for Tesla, as CEO Elon Musk hinted at in the company's latest earnings call. But not everyone on Wall Street shares Wood's optimism on Tesla. Many pros think price cuts will prove to be damaging to the Tesla brand over the long term while at the same time hurting profit margins. "Based on the statement that [Elon Musk] made on the fourth quarter earnings call, saying that his demand is 2x his supply, you'd be silly to cut price," BofA analyst John Murphy said on Yahoo Finance Live. "You would just be eating into your profitability and not achieving any more incremental volume in the near term." Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Click here for the latest trending stock tickers of the Yahoo Finance platform Click here for the latest stock market news and in-depth analysis, including events that move stocks Read the latest financial and business news from Yahoo Finance Download the Yahoo Finance app for Apple or Android Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

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Tesla service center, showroom to open in Lealman

Tesla is ready to open its new center in Pinellas County. Developer Truett Realty Group has received a certificate of occupancy for the facility in Lealman. The group received the CO on Wednesday from Pinellas County, according to Rob Truett principal of Truett Realty Group, which gives Tesla the ability to open to the public.

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Tesla service center, showroom to open in Lealman Tesla is ready to open its new center in Pinellas County. Developer Truett Realty Group has received a certificate of occupancy for the facility in Lealman. The group received the CO on Wednesday from Pinellas County, according to Rob Truett principal of Truett Realty Group, which gives Tesla the ability to open to the public.

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Cathie Wood: AI productivity gains will be ‘astounding and shocking’

ARK Invest Founder Cathie Wood joins Yahoo Finance Live to discuss the impact of AI amid the ongoing ChatGPT hype, themes and trends driving new investments, innovation, Sam Bankman-Fried's FTX chaos, and the outlook for Tesla and Elon Musk.

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Cathie Wood: AI productivity gains will be ‘astounding and shocking’ ARK Invest Founder Cathie Wood joins Yahoo Finance Live to discuss the impact of AI amid the ongoing ChatGPT hype, themes and trends driving new investments, innovation, Sam Bankman-Fried's FTX chaos, and the outlook for Tesla and Elon Musk. Video Transcript JULIE HYMAN: Let's now bring back in ARK Invest CEO and CIO Cathie Wood because artificial intelligence, as you alluded to, is one of the themes that you talk about in your big ideas 2023 investment thesis. I think what we have to do-- and you were just talking about investors educating themselves-- a lot of the public facing excitement has been over things like ChatGPT and the thing writing stories and writing exam papers, et cetera. What you talk about in your report is more the coding side of things, which is what Ines just highlighted as well. Do you think the market really well understands the potential for AI right now? CATHIE WOOD: I think the market is scrambling to try and understand how AI is going to impact the world. And ChatGPT has captured the investors' imagination, which is fantastic because we believe that innovation has been neglected, and certainly in the last two years, badly neglected. And we believe that most investors are very short innovation. You mentioned our venture fund before. We have a big focus on AI in the venture fund. Picks and shovels are very important. Mosaic ML is a private company in which we've invested that is actually speeding up the progress with its software in artificial intelligence. So the name of the fund is Ark Venture. So really, really proud of it. Public, private, starting now, because we believe the time is now. In terms of AI, you're right. A lot of what we expect is productivity gains. And so that will accrue to those companies that use AI most effectively. Yes, Meta Platforms was very interesting to hear Mark Zuckerberg last night focus first on AI, as opposed to the Metaverse. He had been focusing-- he had been trying to push the idea of the Metaverse, we think, before its time. Embracing AI right now and introducing it deeply into the firm to create efficiencies, absolutely the right thing to do. If you think about the revenue opportunities, they may not be as obvious. Sure, the picks and shovels-- you mentioned Nvidia. But we believe that the hidden gems that will benefit perhaps the most from artificial intelligence are those companies with proprietary datasets. And we use Tesla all the time as a prime example of a lot of technology attributes. One of them is having the largest pools of real world driving data in the world. In fact, it has more of that kind of data, orders of magnitude more of that kind of data, than all of the other auto manufacturers and technology companies involved in transportation around the world. And so we believe that it will be in the pole position for the autonomous taxi platform opportunity, which is a software as a service opportunity with massive margins. And it's also a winner take most opportunity. The company that is able to get an autonomous vehicle from point A to point B the most safely and quickly is going to be the winner. That's going to be the go-to service. So we're looking for those sorts of opportunities in the genomic space, exact sciences, and we have models of both of these companies, along with our assumptions, on GitHub, actually. But exact sciences probably has more data because of its premiere position in oncology molecular diagnostic testing than any other company in the world. And it is training the data with artificial intelligence so that it can help surface cancer in stage one. Again, here, the company with the most data, the most proprietary data, and the right domain expertise and AI expertise. So those three things-- domain expertise-- these are scientists with deep understanding of biology-- AI expertise, and data. So those are the kinds of companies we're looking for. BRAD SMITH: Cathie, when we think about AI and the mentions that it's been getting, even in earnings calls, it's hard not to think that it won't be to, at least, this year, in 2023, what blockchain mentions were to companies in 2017 and early 2018. You had every company from Roblox and IBM and Amazon and Meta all talking about how they were going to integrate blockchain and how big it was going to be for their business. So for us to avoid that, what is the actual timeline for delivery that we should be kind of grading these companies on with regard to delivering some type of AI solution within their own product and service? CATHIE WOOD: Well, I think what I would be looking for a little bit more, and it is, how are our companies harnessing AI for their own businesses? Do they have these proprietary data sets? So that's the first thing because this is going to-- AI is going to enable the most massive productivity increase in our history. And we think that the productivity gains are going to be astounding and shocking. However, those companies who do not embrace this rapidly enough are probably going to lose competitively. So I would be looking at this more, are they going on this offensively within their own organizations? Do they have proprietary data? And then in terms of solution sets, as you say, these are going to be longer term, right? So Tesla, autonomous taxi platforms, Elon thinks he will launch within the next year. We are thinking within the next 18 months to two years. But the difference between AI, which is really the next generation software and blockchain technology, is that this was a dream in really the tech and telecom bubble. It's taken breakthroughs, cloud computing in 2006 with AWS, deep learning, the breakthrough in 2012. And it's taken cost declines. Costs were way too high until now. We're now ready for primetime, for the use of artificial intelligence to increase productivity within organizations and increase profitability. And, yes, create new products and services, which will take time. BRIAN SOZZIE: Cathie, you mentioned Tesla. It's a name you and I have talked about before. Do you think Elon is eroding the longer term premium positioning of Tesla by cutting prices? And just given the competition, look, we heard from GM this week with all the EVs it's coming to market with. Do you think more price cuts are coming at Tesla just to keep competitors at bay? CATHIE WOOD: Well, I actually think it's the other way around. I think traditional auto manufacturers are going to have trouble keeping up with the price declines that Tesla's technology is enabling. The secret to success in innovation is driving costs down. Technology follows the learning curve. So figure out what that learning curve is. That's a big part of our research. And in the case of batteries, for every cumulative doubling in the number of units produced, battery costs declined by 28%. Elon is on a different battery cost curve decline. He is leveraged off the consumer electronics industry, those kinds of batteries that go into laptops and phones and others. Automakers and auto analysts made fun of him in-- I remember this very clearly-- 2015, '16, and '17. He absolutely chose the right technology. And I think others are rethinking it now. If they do not switch over to this kind of battery technology, they will not be able to catch up with Tesla in terms of price declines without losing money, whereas Tesla's gross margins are probably going to continue moving up on balance, even as it is cutting prices because its unit volumes, the economies of scale, are going to be so significant. JULIE HYMAN: Cathie, I want to switch gears and ask you about one of the other predictions in the report, and that has to do with Bitcoin. And of course, this has gotten a lot of attention, as many of your predictions do, that you guys are still looking for a million or more, a million dollars or more in Bitcoin value, going out to 2030. As I said, this is a controversial take after the drubbing, and then some that we have seen in Bitcoin. Walk me through it here. Like, how do we get from here to there? CATHIE WOOD: Yes, and you can see the building blocks in big ideas, big ideas 2023. But if you-- and the assumptions you'll see are very conservative. In fact, we've dialed them down from just take institutional managers looking at Bitcoin as a new asset class. And they are. And they are. We've seen Coinbase and BlackRock hook up recently. It's because institutional investors want access to this new asset class, which-- the returns of which the correlation of the returns are low, which is exactly what they're looking for. A lot of-- let me just step back and just say, last year was a disaster for crypto, generally. However, if you look at the Bitcoin blockchain, it did not skip a beat. No transaction was interrupted. It did what we thought it was going to do. And it is no surprise to us that Sam Bankman-Fried did not like Bitcoin. Why? It's completely decentralized and completely transparent. And he couldn't control it. His firm, FTX, was completely centralized and opaque. So we think that as investors reflect on what happened last year, the failures were those companies that were not decentralized, were not transparent. Bitcoin didn't skip a beat. And if you watch what's going on, especially in emerging markets, there's hyperinflation all over the world as their currencies have fallen apart. And as their fiscal and monetary responses to COVID have-- are now proving, in some cases, to be disastrous, those individuals, those populations need a fallback, an insurance policy like Bitcoin, as do high net worth individuals who are worried that their wealth will be confiscated. Inflation is confiscation of wealth. But then there's outright confiscation. And I'm sure that there are individuals in the troubled spots of the world, the Russias, the controversies in China, who are looking for that fallback in case something really wrong happens to them in these countries. There are tycoons who understand what their risks are. So we believe that insurance policies, that Bitcoin is probably the best insurance policy. Just keep that key in your head. And at some point, you'll be able to cross a border and reclaim your wealth. JULIE HYMAN: Cathie, we could spend the whole hour just talking about Bitcoin, but I do have one last question for you before we have to let you go. And that's about ARK itself and your benchmark ETF, ARKK. As we talked over the last year and as your ETF dramatically underperformed, you said, well, it's not surprising during this time that we would see declines. You said that even towards the end of 2021 that you thought things were getting a little toppy. Where are you now? What kind of year is ARK going to have? CATHIE WOOD: Well, we have a five-year investment time horizon. I'll just tell you that our confidence in our outlook over the next five years has increased dramatically. I would say that what happened with Fed policy last year, which we thought was unnecessary-- and we were in print saying that-- that we've come to the end of that. And the market sees that. And I think that the time horizons, which shrunk to almost nothing-- in fact, we saw investors looking backwards to guide them. They wanted-- they were looking back at the cash flow over the past year to guide their investment decisions. We think real returns are going to be delivered from those companies that are going to deliver on the innovation around which we have centered our research and investing over the next five years. And we do think now that the shock of interest rates going up 18-fold, I think it was-- we've never seen this in history. We've never seen a bond market act as badly since the 1700s. So, of course, long duration assets were going to be the primary victim. We believe that chapter is over and that you never say the coast is clear. There are always risks. But we think we're on the other side of the most difficult time that innovation oriented strategies have ever had. I've never seen anything like that in my career. We're on the other side of it. And we think the future is bright for innovation. We're really excited, as you can see from our big ideas 2023. BRAD SMITH: A lot of innovation, hopefully fast tracked as best as possible. ARK Invest CEO and CIO Cathie Wood, we always appreciate the time. And thanks for the wide ranging conversation. CATHIE WOOD: Thank you so much, Brad, Julie, and Brian. BRAD SMITH: Thanks.

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Why Tesla Stock Keeps Driving Higher

For the third day in a row, Tesla (NASDAQ: TSLA) stock is riding higher -- up 4.3% as of 10:10 a.m. ET. The Federal Reserve's decision to raise interest rates only 25 basis points yesterday is probably part of the reason for that -- indeed, growth stocks in general seem happy to run today, with the entire Nasdaq up nearly 2%. Tesla's plan to cut the prices of its electric cars, you see -- not just in the U.S., but in China as well -- is having its intended effect of stoking consumer demand.

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Why Tesla Stock Keeps Driving Higher For the third day in a row, Tesla (NASDAQ: TSLA) stock is riding higher -- up 4.3% as of 10:10 a.m. ET. The Federal Reserve's decision to raise interest rates only 25 basis points yesterday is probably part of the reason for that -- indeed, growth stocks in general seem happy to run today, with the entire Nasdaq up nearly 2%. Tesla's plan to cut the prices of its electric cars, you see -- not just in the U.S., but in China as well -- is having its intended effect of stoking consumer demand.

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Stock market today: Dow cuts losses to end flat as tech reigns supreme

By Yasin Ebrahim

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Stock market today: Dow cuts losses to end flat as tech reigns supreme By Yasin Ebrahim Investing.com -- The Dow closed flat Thursday, as investors piled in on tech stocks following a rally in Meta, though weakness in health care and energy weighed on upside momentum. The Dow Jones Industrial Average fell 0.1%, or 39 points, the Nasdaq was up 3%, and the S&P 500 rose 1.4%. Meta Platforms Inc (NASDAQ:META) reported fourth-quarter revenue that topped estimates and announced a $40 billion share buyback program, sending its shares more than 23% higher. Sentiment on the stock was further boosted after chief executive Mark Zuckerberg detailed plans including flattening the organization’s structure to make the firm more efficient. The focus on efficiency was welcomed by Wall Street after the firm spent billions in investments to support engagement following the hit from Apple’s privacy-related changes to its mobile operating system, iOS. “The transitions had been painful for investors, and while it's too early to declare victory, early evidence from Zuckerberg's pivot appears to be bearing fruit,” Deutsche Bank said as it hiked its price target on the stock to $200 from $125 a share. Other big tech stocks including Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), and Alphabet Inc (NASDAQ:GOOGL), all of which report quarterly results after the market close, rallied. As well as earnings from Meta, sentiment on tech was also helped by renewed confidence that the Federal Reserve will end rate hikes sooner rather than later after downshifting to a quarter-point rate hike on Wednesday. “The rates market is now implying a peak funds rate of 4.88%, which means just one more hike, likely followed by a May pause,” Jefferies said in a note. Tesla (NASDAQ:TSLA) added to its recent rally, rising more than 3% as clouds hanging over demand in China appear to be departing somewhat following a Reuters report that the company will lift output at its Shanghai factory to nearly 20,000 vehicles per week for February and March. The surge in growth corners of the market including tech and consumer discretionary appeared to come at the expense of value sectors as energy and healthcare stocks fell. Energy fell nearly 3% as gains in oil prices were kept in check by a stronger dollar and ongoing jitters about higher energy production from Russia. Healthcare, meanwhile, was also pressured by a slump in Eli Lilly and Company (NYSE:LLY) after the drug maker missed fourth-quarter revenue estimates amid weaker sales in its lung cancer drug Alimta and the impact of a stronger dollar. Honeywell International (NASDAQ:HON) also delivered mixed quarterly results as revenue fell short of estimates, though its shares pared losses to trade flat. In other news, Coinbase (NASDAQ:COIN) jumped 24% after a class-action suit alleging the crypto exchange sold unregistered securities on its platform was dismissed. Related Articles Stock market today: Dow cuts losses to end flat as tech reigns supreme Apple forecasts another revenue decline after quarterly profit miss

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Meta Shatters Records; Tesla Ramps Up In Shanghai; Apple's Earnings Analysts' View

Dow Jones rose after Meta beat revenue targets; Tesla ramps up Shanghai production; Apple, Amazon and Google-Parent Alphabet on deck.

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Meta Shatters Records; Tesla Ramps Up In Shanghai; Apple's Earnings Analysts' View Dow Jones rose after Meta beat revenue targets; Tesla ramps up Shanghai production; Apple, Amazon and Google-Parent Alphabet on deck. Dow Jones rose after Meta beat revenue targets; Tesla ramps up Shanghai production; Apple, Amazon and Google-Parent Alphabet on deck.

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10 Hot EV Stocks To Buy Now

In this article, we discuss the 10 hot EV stocks to buy now. If you want to read about some more hot EV stocks to buy now, go directly to 5 Hot EV Stocks To Buy Now. The electric vehicle (EV) industry was heavily impacted by the economic downturn in 2022. As interest rates increased […]

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10 Hot EV Stocks To Buy Now In this article, we discuss the 10 hot EV stocks to buy now. If you want to read about some more hot EV stocks to buy now, go directly to 5 Hot EV Stocks To Buy Now. The electric vehicle (EV) industry was heavily impacted by the economic downturn in 2022. As interest rates increased and financial markets fluctuated, the stock prices of many EV firms declined. This was a disappointing year for investors who had invested in Tesla, Inc. (NASDAQ:TSLA), Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), Freeport-McMoRan Inc. (NYSE:FCX) and other companies with high exposure to the EV industry. Rivian Automotive, Inc. (NASDAQ:RIVN), which had a market value higher than Ford Motor Co. shortly after going public in 2021, lost over 70% of its value in the past year. The situation for EV start-ups was even direr. Arrival, an electric van manufacturer, warned that it could run out of cash in less than a year. Lucid Group Inc. (LCID.O), supported by Saudi Arabia’s sovereign wealth fund, encountered difficulties in constructing its luxurious Air EVs. Xpeng Inc., a Chinese competitor to Tesla, saw its shares decrease in value by over 80%. However, despite these challenges, the outlook for the EV industry in 2023 is optimistic. According to Reuters, despite low sales, electric vehicle production is set to surge in 2023. In 2022, well-established automobile manufacturers such as Mercedes, Ford, and General Motors introduced numerous new electric vehicles to compete with Tesla and other start-ups. The ramp-up of mass production for these vehicles will commence in 2023. Tesla Inc. rises to become the top-valued automobile company globally with a market share of 65%. The total EV industry is worth around $800 billion as of right now. According to S&P Global, the market share for electric vehicles in new vehicle sales is predicted to reach 40% by 2030. Tesla, Inc. (NASDAQ:TSLA) CEO, Elon Musk, has stated that Tesla, Inc. (NASDAQ:TSLA) will be the most valuable company in the world. During the most recent earnings call, Elon Musk reported that the company saw its strongest orders to date in January. The last quarter also marked Tesla, Inc. (NASDAQ:TSLA)’s highest-ever quarterly revenue, operating income, and net income in its history. Additionally, Tesla cut global EV prices by up to 20%, intensifying competition through aggressive discounts. Governments around the world are also supporting the growth of the EV industry through incentives and regulations. The push towards sustainable transportation is increasing, which is expected to further drive the growth of the EV industry in the coming years. The market for charging infrastructure is also expected to grow, creating new opportunities for companies in this sector. The increasing demand for EVs is also expected to drive growth in the lithium-ion battery market. A report by Technavio predicts that the global lithium-ion battery market will grow by 17% in 2023, driven by the increasing demand for EVs and energy storage systems. The industry is also expected to see growth in the recycling and reuse of batteries, as companies look for ways to reduce waste and improve sustainability. Our Methodology For this article we first used stock screeners to identify EV stocks that have posted positive share price gains in 2023 so far and have an average 3-month volume of more than 5 million as of January 31. From this resultant dataset we picked the stocks with highest volumes and share price gains. The list is ranked in ascending order of average 3-month share volume. michael-fousert-YhXlYJYlr3c-unsplash Hot EV Stocks To Buy Now 10. Fisker Inc. (NYSE:FSR) Number of Hedge Fund Holders: 15 Avg Volume: 5.5M YTD Perf: +2.48% Fisker Inc. (NYSE:FSR) develops, manufactures, markets, leases, or sale of electric vehicles. On December 6, Fisker revealed that its CEO Henrik Fisker and CFO/COO Geeta Gupta-Fisker bought 33,700 shares of Class A common stock. Furthermore, the company's chief accounting officer, John Finnucan, acquired 450.095 shares of Class A stock. On November 29, 2022, Evercore ISI analyst Chris McNally initiated coverage of Fisker Inc. (NYSE:FSR) stock with an Outperform rating and $15 price target, noting that the company expects FY23 revenue to exceed expectations by 40% to 50% and a path to roughly 40,000 deliveries. At the end of the third quarter of 2022, 15 hedge funds in the database of Insider Monkey held stakes worth $104.4 million in Fisker Inc. (NYSE:FSR), compared to 11 in the preceding quarter worth $110.7 million. Just like Tesla, Inc. (NASDAQ:TSLA), Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), and Freeport-McMoRan Inc. (NYSE:FCX), Fisker Inc. (NYSE:FSR) is one of the hot EV stocks to buy now according to elite investors. 9. Stellantis N.V. (NYSE:STLA) Number of Hedge Fund Holders: 25 Avg Volume: 5.5M YTD Perf: +10.70% Stellantis N.V. (NYSE:STLA) engages in the design, engineering, manufacturing, distribution, and sale of automobiles and parts. On January 20, Stellantis was reportedly planning to temporarily halt production at one of its plants in south-eastern Italy due to persistent supply chain issues. According to Reuters, the work stoppages are set to begin in the near future as the automaker faces a shortage of parts required for production. Union representatives informed Reuters that the chip shortages are particularly affecting production. The duration of the pause remains unknown at present. On January 30, 2023, Berenberg analyst Adrian Yanoshik maintained a Buy rating on Stellantis N.V. (NYSE:STLA) stock and lowered the price target to EUR 18 from EUR 19. At the end of the third quarter of 2022, 25 hedge funds in the database of Insider Monkey held stakes worth $905.5 million in Stellantis N.V. (NYSE:STLA), compared to 25 in the preceding quarter worth $714.6 million. Among the hedge funds being tracked by Insider Monkey, Boston-based firm Arrowstreet Capital is a leading shareholder in Stellantis N.V. (NYSE:STLA) with 29 million shares worth more than $349.4 million. 8. Li Auto Inc. (NASDAQ:LI) Number of Hedge Fund Holders: 20 Avg Volume: 11.4M YTD Perf: +22.06% Li Auto Inc. (NASDAQ:LI) designs, develops, manufactures, and sells new energy vehicles in the People’s Republic of China. On December 9, Li Auto issued a press release regarding its third-quarter results. The losses per share came in at $0.18, missing the expectations by $0.09. Additionally, the company's revenue of $1.31 billion, a 20.1% increase YoY, fell short of expectations by $60 million. On December 15, 2022, CLSA analyst Aaron Li maintained a Buy rating on Li Auto Inc. (NASDAQ:LI) stock and lowered the price target to $31 from $49, highlighting that after the Fed's rate hikes, the market is concentrating more on profitability, but Li is still gaining great momentum. At the end of the third quarter of 2022, 20 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in Lucid Group, Inc. (NASDAQ:LCID), compared to 28 in the preceding quarter worth $1.4 billion. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC is a leading shareholder in Li Auto Inc. (NASDAQ:LI) with 17.2 million shares worth more than $396 million. 7. General Motors Company (NASDAQ:GM) Number of Hedge Fund Holders: 74 Avg Volume: 13.5M YTD Perf: +16.88% General Motors Company (NASDAQ:GM) designs, builds and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. On January 31, Lithium America’s stock rose by 10.1% before the market opened following their announcement of a joint investment with General Motors to develop the Thacker Pass mine in Nevada, which is the largest known lithium source in the US. On January 25, 2023, JPMorgan analyst Ryan Brinkman maintained an Overweight rating on General Motors Company (NYSE:GM) stock and lowered the price target to $57 from $59, noting that the advisory decreased GM's out-year expectations to account for price and mix headwinds, but still expects a minor beat in the fourth quarter. At the end of the third quarter of 2022, 74 hedge funds in the database of Insider Monkey held stakes worth $3.3 billion in General Motors Company (NASDAQ:GM), compared to 75 in the preceding quarter worth $3.4 billion. In its Q3 2022 investor letter, Diamond Hill Capital, an asset management firm, highlighted a few stocks and General Motors Company (NASDAQ:GM) was one of them. Here is what the fund said: “Most recently, we initiated a position in General Motors Company (NYSE:GM), one of the largest automakers in the United States. Over the past several years, GM has taken the steps necessary to focus the company on the most profitable segments and move into a position to compete in an electrified and autonomous world. With the recent rise in interest rates, there was a meaningful selloff in the auto industry, which presented us an attractive entry point to a name we know well.” 6. Rivian Automotive, Inc. (NASDAQ:RIVN) Number of Hedge Fund Holders: 30 Avg Volume: 20.3M YTD Perf: +5.26% Rivian Automotive, Inc. (NASDAQ:RIVN) designs, develops, manufactures, and sells electric vehicles and accessories. On January 4, Rivian Automotive announced production and delivery numbers for Q4 and the full year, falling short of estimates. The automaker produced 10,020 vehicles in the fourth quarter and delivered 8,054 vehicles, with a total of 24,337 vehicles produced and 20,332 vehicles delivered for the year. The Normal, Illinois-based company ended the quarter with 2,000 vehicles in transit, representing less than 5% of its FY23 projections. On January 25, Morgan Stanley analyst Adam Jonas maintained an Overweight rating on Rivian Automotive, Inc. (NASDAQ: RINV) stock and lowered the price target to $28 from $55, noting that electric vehicles, or EVs, are transitioning from a severe lack of inventory to a potential surplus, and Tesla's recent price reductions are just the latest indication the EV market may be entering the ‘shake-out' phase. Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Coatue Management is a leading shareholder in Rivian Automotive, Inc. (NASDAQ:RIVN) with 19.6 million shares worth more than $645 million. In addition to Tesla, Inc. (NASDAQ:TSLA), Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), and Freeport-McMoRan Inc. (NYSE:FCX), Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the hot EV stocks to buy now according to elite investors. In its Q3 2022 investor letter, Meridian Funds, an asset management firm, highlighted a few stocks and Rivian Automotive, Inc. (NASDAQ:RIVN) was one of them. Here is what the fund said: “Rivian Automotive, Inc. (NASDAQ:RIVN) manufactures electric vehicles (EVs) for the consumer and commercial markets. We initially invested in the company when it was privately owned. Among the many things that differentiate this startup is its substantial cash balance and relationship with Amazon, which is both an investor in the company and the first customer for Rivian’s commercial van. Several positive developments contributed to share strength in the quarter, including the company’s announcement that production of its R1 pickup trucks and EV delivery vans increased nearly 70% over the previous quarter. Management also reaffirmed its production target of 25,000 vehicles for 2022. Despite raising the price of its R1 truck earlier this year, Rivian continued to see strong demand for its vehicles, demonstrated by 98,000 pre-orders for its R1 truck and SUV. Although we are pleased with the company’s progress, we liquidated our position as Rivian approached the high end of our market cap threshold and its relative valuation became less attractive.” Click to continue reading and see 5 Hot EV Stocks To Buy Now. Suggested Articles: Disclosure. None. 10 Hot EV Stocks To Buy Now is originally published on Insider Monkey.

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Should You Still Buy the S&P 500's Best-Performing January Stocks?

After a rough 2022, the S&P 500 has gotten off to a solid start in 2023. The broad-market index rose 6.2% in January as investors responded bullishly to falling inflation and signs the Federal Reserve would start slowing its interest rate hikes. Warner Bros. Discovery (NASDAQ: WBD) shares had a dismal 2022 as AT&T's spinoff of Warner Media and merger with Discovery Communications revealed a number of problems with the new media company.

Yahoo

Should You Still Buy the S&P 500's Best-Performing January Stocks? After a rough 2022, the S&P 500 has gotten off to a solid start in 2023. The broad-market index rose 6.2% in January as investors responded bullishly to falling inflation and signs the Federal Reserve would start slowing its interest rate hikes. Warner Bros. Discovery (NASDAQ: WBD) shares had a dismal 2022 as AT&T's spinoff of Warner Media and merger with Discovery Communications revealed a number of problems with the new media company.

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NIO: Less Pain More Gain

NIO is just getting started in its quest for dominance, despite slower growth in 2023. Click here to read why I reiterate a Speculative Buy rating on NIO stock.

SeekingAlpha

NIO: Less Pain More Gain Summary - Although NIO posted a lackluster delivery report in January, don't fret. January's weakness has likely been anticipated. - NIO's progress hinges on its ability to ramp production efficiently, gaining market share and staying ahead as China's EV growth potentially slows down. - NIO's European expansion is vital to unlocking a critical growth vector, but only if it can secure a strong position in the world's second-largest EV market. - I do much more than just articles at Ultimate Growth Investing: Members get access to model portfolios, regular updates, a chat room, and more. Learn More » NIO Inc. (NYSE:NIO) stock has started 2023 well, up more than 20% from our late December update, outperforming the S&P 500 (SPX) (SPY). Unfortunately, its momentum has stumbled recently, as January delivery numbers were weak. However, the robust recovery of Chinese equities in January has helped sustain the buying sentiments in NIO. Accordingly, NIO delivered 8.51K of vehicles in January, down 46% MoM. As such, the momentum has softened significantly from December as it coincided with the Chinese New Year festivities. Moreover, recent price cuts from Tesla (TSLA) reportedly caused buyers to dither over their purchase decisions, anticipating a "wait-and-see" attitude. The weakness seen in NIO's January numbers was industry-wide, impacting even China's NEV leader BYD (OTCPK:BYDDF). The company posted a 35% MoM decline in deliveries. Deutsche Bank (DB) believes that January's weakness is temporary, with the industry poised for a recovery moving ahead. Moreover, China's reopening from its peak COVID wave should relieve the unpredictable supply chain disruptions that impacted NIO's production and deliveries in 2022. Despite that, 2023 could still prove to be a challenging year for NIO. China's NEV sales reached 5.67M in 2022, up 90% YoY, despite the lockdowns. Moreover, the NEV penetration rate in China is world-leading at 27.6% (including hybrids), well above the global EV penetration rate of 10%. As such, there's still significant potential for Chinese NEV players, including NIO, to grow, but the momentum is expected to slow further. Accordingly, the China Passenger Car Association (CPCA) expects the industry to post NEV sales of 8.5M in 2023, up nearly 50% YoY. Still fast but slowing down. BloombergNEF's estimates are more pessimistic, seeing 8M sales, but expects Chinese NEV players to spread their wings to the European market. DIGITIMES estimates are at the higher end, seeing 9M in sales. Notably, it highlighted that the momentum in China NEV sales has widespread support from the Chinese government, helping to lift its cadence further. It added: China has become the world's largest market for EVs due to government's support for EV manufacturers, including boosting consumption of EVs in rural areas, extended tax exemptions, and more than 20 local government subsidies for vehicle purchases, as well as the highest density of charging stations among all countries. For now, China is winning the race not only in EV production but also consumption. China has formed industrial clusters and complete eco-systems. China's EV industry has a global market share of over 50% in major production segments such as battery raw materials, integration and charging infrastructure, and exports are still price-competitive. - DIGITIMES As such, we think NIO remains well-placed to navigate 2023 as it continues to build on its new vehicle launches. It's also worth watching NIO's progress in Europe as it seeks another critical growth vector to mitigate a slower-growth Chinese market. Europe is expected to avert a damaging recession, which could benefit consumer spending as inflation falls further. Hence, it should also provide another tailwind for NIO's European expansion as it starts its EL7 SUV deliveries. The company is also set to launch its two sub-brands, Firefly and ALPS, as NIO moves to scale further and widen adoption. However, care must be taken by management to avoid pushing out its profitability ramp, as seen in the case of XPeng (XPEV). The company's lower-priced offerings saw significant hurdles against BYD's prowess and Tesla's price cuts. The consensus estimates still expect NIO to report adjusted EBIT profitability by FY25. Therefore, the company needs to remain focused on scaling its production while benefiting from a potential normalization in lithium prices. The ability to ramp efficiently will be a critical driver in 2023, as we highlighted in a recent TSLA article. Therefore, if CEO William Li & team could lift investors' expectations at the upcoming FQ4 earnings release of its ability to improve its production costs further, NIO's medium-term recovery should remain intact. Rating: Speculative Buy (Reiterated). Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks. Are you looking to strategically enter the market and optimize gains? Unlock the key to successful growth stock investments with our expert guidance on identifying lower-risk entry points and capitalizing on them for long-term profits. As a member, you'll also gain access to exclusive resources including: 24/7 access to our model portfolios Daily Tactical Market Analysis to sharpen your market awareness and avoid the emotional rollercoaster Access to all our top stocks and earnings ideas Access to all our charts with specific entry points Real-time chatroom support Real-time buy/sell/hedge alerts Sign up now for a Risk-Free 14-Day free trial! This article was written by Ultimate Growth Investing, led by founder JR Research, helps investors better understand a range of investment sectors with a focus on technology. JR specializes in growth investments, utilizing a price action-based approach backed by actionable fundamental analysis. With a powerful toolkit, JR also provides insights into market sentiments, generating actionable market-leading indicators. In addition to tech and growth, JR also offers general stock analysis across a wide range of sectors and industries, with short- to medium-term stock analysis that includes a combination of long and short setups. Join the community today to improve your investment strategy and start experiencing the quality of our service. Seeking Alpha features JR Research as one of its Top Analysts to Follow for the Technology, Software, and the Internet category, as well as for the Growth and GARP categories. JR Research was featured as one of Seeking Alpha's leading contributors in 2022. About JR: He was previously an Executive Director with a global financial services corporation and led company-wide, award-winning wealth management teams consistently ranked among the best in the company. He graduated with an Economics Degree from Asia's top-ranked National University of Singapore (NUS). NUS is also ranked among the top ten universities globally. I currently hold the rank of Major as a Commissioned Officer (Reservist) with the Singapore Armed Forces. Analyst’s Disclosure: I/we have a beneficial long position in the shares of NIO, TSLA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comments (27) ..imo

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Nasdaq rallies as Meta's surge triggers sea of green in tech

By Yasin Ebrahim

Yahoo

Nasdaq rallies as Meta's surge triggers sea of green in tech By Yasin Ebrahim Investing.com -- The Nasdaq rallied Thursday, as a surge in Meta on quarterly results and a massive stock buyback triggered a sea of green in tech, helping stocks build on gains from a day earlier. The Dow Jones Industrial Average fell 0.2%, or 59 points, the Nasdaq was up 3%, and the S&P 500 rose 1.8%. Meta Platforms Inc (NASDAQ:META) reported fourth-quarter revenue that topped estimates and announced a $40 billion share buyback program, sending its shares more than 23% higher. Sentiment on the stock was further boosted after chief executive Mark Zuckerberg detailed plans including flattening the organization’s structure to make the firm more efficient. The focus on efficiency was welcomed by Wall Street after the firm spent billions in investments to support engagement following the hit from Apple’s privacy-related changes to its mobile operating system, iOS. “The transitions had been painful for investors, and while it's too early to declare victory, early evidence from Zuckerberg's pivot appears to be bearing fruit,” Deutsche Bank said as it hiked its price target on the stock to $200 from $125 a share. Other big tech stocks including Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), and Alphabet Inc (NASDAQ:GOOGL), all of which report quarterly results after the market close, rallied. As well as earnings from Meta, sentiment on tech was also helped by renewed confidence that the Federal Reserve will end rate hikes sooner rather than later after downshifting to a quarter-point rate hike on Wednesday. “The rates market is now implying a peak funds rate of 4.88%, which means just one more hike, likely followed by a May pause,” Jefferies said in a note. Tesla (NASDAQ:TSLA) added to its recent rally, rising more than 7% as clouds hanging over demand in China appear to be departing somewhat following a Reuters report that the company will lift output at its Shanghai factory to nearly 20,000 vehicles per week for February and March. The surge in growth corners of the market including tech and consumer discretionary appeared to come at the expense of value sectors as energy and healthcare stocks fell. Energy fell nearly 3% as gains in oil prices were kept in check by a stronger dollar and ongoing jitters about higher energy production from Russia. Healthcare, meanwhile, was also pressured by a slump in Eli Lilly and Company (NYSE:LLY) after the drug maker missed fourth-quarter revenue estimates amid weaker sales in its lung cancer drug Alimta and the impact of a stronger dollar. Honeywell International (NASDAQ:HON) also delivered mixed quarterly results as revenue fell short of estimates, though its shares pared losses to trade flat. In other news, Coinbase (NASDAQ:COIN) jumped 28% after a class-action suit alleging the crypto exchange sold unregistered securities on its platform was dismissed. Related Articles Nasdaq rallies as Meta's surge triggers sea of green in tech Amazon beats estimates for quarterly sales Amazon.com earnings missed by $0.14, revenue topped estimates

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Tesla: Beijing Steps In

Reopening of China and Tesla decision to cut its prices enabled the company to end 2022 on a high note. Click here for our take on TSLA stock now.

SeekingAlpha

Tesla: Beijing Steps In Summary - The reopening of China, coupled with Tesla, Inc.’s decision to cut its prices to reach its goals, made it possible for the company to end 2022 on a high note. - Beijing’s decision to focus on achieving its economic goals has all the chances to revive Tesla’s growth story and help the company to have another record year. - As for the long term, the bifurcation of the global system could negatively affect Tesla’s business due to the fragility of its supply chains that rely on undisrupted globalization. - Looking for a helping hand in the market? Members of BlackSquare Capital get exclusive ideas and guidance to navigate any climate. Learn More » The latest appreciation of Tesla, Inc.'s (NASDAQ:TSLA) stock in large part was possible thanks to Beijing's decision to drop the idea of sticking with the zero-Covid policy. Instead, the government prioritized the country's growth with the help of various stimulus packages aimed at improving consumer confidence after a disastrous performance of the economy in 2022 due to lockdowns. The reopening of China coupled with Tesla's decision to cut its prices to reach its production and sales goals made it possible for the company to end 2022 on a high note. This convinced the market that the growth story is far from over. Thanks to this, we could see 2023 becoming another record year for the company that could help lift Tesla's stock from the current levels until greater geopolitical concerns begin to greatly affect the business later this decade. Ending 2022 On A High Note More than a year ago, I wrote a piece on Tesla in which I argued that the company's long-term success depends mostly on the growth story of China and its electric vehicle ("EV") market. This view has been mostly reiterated in my latest Tesla article published a month ago here at Seeking Alpha and proved by the latest earnings results, which highlighted Tesla's exposure to Beijing's policy and how politics plays a crucial role in deciding how successful the company will be. Let's not forget that Beijing's decision to implement strict movement restrictions in the first half of 2022 made Elon Musk admit that Tesla's factories were gigantic money furnaces and also exposed the fragility of the company's supply chains. The moment Beijing decided to abandon its zero-Covid policy and instead focused on growing the economy at the end of 2022, after Xi Jinping has been reelected for an unprecedented third term as the general secretary of the CCP, Tesla's business once again began to prosper around the globe. Tesla's 47% Y/Y increase in produced vehicles and 40% Y/Y increase in delivered vehicles in FY22 that made the company's stock recently rebound in large was possible thanks to Beijing's domestic policy pivot. Since Tesla's FY22 numbers are out and Beijing's domestic goals for 2023 are set it, makes sense to value the company to figure out whether its stock is an attractive investment in the current environment. We can then try and analyze the potential drivers for growth along with the risks that could negatively affect the growth story. The discounted cash flow ("DCF") model below shows a potential growth trajectory of Tesla for the following years. The revenue growth rate in the model is mostly in-line with the Street estimates for the next couple of years, after which it slowly cools down as the business matures. EBIT as a percentage of revenue is also mostly in-line with the estimates and is largely lower in comparison to the historical period due to rising competition that already has forced Tesla to cut prices to continue to fund its growth. The tax rate assumption is the average of the previous three years that stays flat mostly due to various government subsidies and incentives that are likely to offset a potential tax hike in the future. The D&A as a percentage of revenue in the following years is the average of the previous three years. The change in NWC stands at 2% of revenues, while capital expenditures for the next two years are mostly in-line with Tesla's predictions for the next two years. In the following years, CapEx as a percentage of revenue slowly decreases. The WACC in the model stands at 9%, while the terminal growth rate is 3%. This DCF model shows Tesla's enterprise value to be $472 billion, while its fair value is $142.28 per share, below the current market price of ~$170 per share at the time of this writing. This could indicate at first that the company is overvalued. However, the fact that my DCF model shows that Tesla trades above its fair value doesn't mean that the stock can't grow higher or that the business can't exceed expectations and deliver a greater growth rate than expected. That's why there's more to Tesla's story than a simple valuation model, as assumptions could change at any time as the sentiment changes. The Revival Of The Growth Story Is Upon Us Let's not forget the fact that Tesla wasn't a value play in recent years. The bull run that started in 2020 and lasted throughout a good part of 2021 showed that during times of expansionary monetary policy Tesla's stock can grow at an aggressive rate and trade at over 100 times its earnings. During times of contractionary monetary policy, its stock experiences decline, but doesn't trade in-line with its fundamentals. Even today, Tesla's stock trades at over 40 times its earnings despite already being significantly overvalued solely based on the fundamentals, while its peers are mostly trading at single-digit P/E ratios. That's why it would be a mistake to figure out the investment attractiveness of the company's stock by looking solely at its fundamentals. At the same time, the reopening of China could help Tesla keep its business momentum, outperform the expectations in 2023, and make the stock recoup some losses from 2022 in the following quarters. The fact that the IMF has improved the global outlook for 2023 due to China's reopening and urged the country to stay on its current course at a time when there's an indication that the U.S. can avoid a recession shows the immense power that Beijing has over the global economy - and Tesla in particular. The graph below clearly illustrates that once zero-Covid restrictions in China were lifted, Tesla experienced an increase in market share in Europe and the United States as supply chain disruptions were minimized, and at the same time managed to keep its share in China despite the ever-increasing competition there. Don't Get Too Excited Too Soon If you think that the arguments presented above are highlighting an optimistic bullish case, then you're not wrong. There's an actual case to be made that 2023 could very likely become another year of record growth for Tesla as Beijing's domestic pivot coupled with more governmental incentives and potential growth of the global economy could continue to support the company's growth story in the following quarters. This could help Tesla's stock recoup some of the 2022 losses and outperform the street estimates which could lead to the improvement of assumptions in my model and a greater valuation. However, beyond 2023, the picture looks less rosy. In the comment section of my latest article on Tesla - which was published at the end of 2022 and highlighted the fragility of the company's supply chains - there was a lot of critique about the notion that we're witnessing the collapse of globalization. However, if you look at the data then, you'll see that since 2011 there has been an uptick in protectionist policies around the globe that hampered free trade and the free flow of goods. Tesla dodged a bullet back in 2018 when the Trump administration began its trade war against China that forced the latter to retaliate. It significantly increased tariffs on American-made cars which are active to this day by opening its Gigafactory in Shanghai. Without having a production facility in China, Tesla wouldn't have been able to grow its business at the current double-digit rate, and probably would've been trading at more conservative multiples. At the same time, even though Tesla managed to open production facilities in each of its major markets right on time as the risk of a potential U.S.-EU trade war is also looming, the company nevertheless is unlikely to be able to sustain various geopolitical shocks at once. The company's performance in the first half of 2022 showed how fragile its supply chains are and highlighted how its business model heavily relies on the idea of undisrupted globalization. While such an idea is likely to help the company retain its momentum in 2023 due to China's reopening and Beijing's decision to return to the pre-Covid foreign policy, it's unlikely to be the case in the following years, as the Sino-American competition is likely to lead to a greater bifurcation of a global system over the long-term. The U.S. is already talking about implementing additional restrictions on Chinese companies and activating a screening tool to ensure that Beijing complies with the sanctions against Russia. China, on its part, is looking on establishing its own trading blocs without involving the United States to protect its own regional interests. All of this shows that decoupling is in full force right now and the world is likely to look extremely different and less rosy a decade from now. Being greatly exposed to the American, Chinese, and European consumer markets and having supply chains interconnected between those markets makes Tesla an extremely vulnerable target for various potential geopolitical disruptions. While Tesla managed to avoid the Chinese tariffs a few years ago by diversifying its production and was able to report record results in 2022 thanks to Beijing's domestic policy pivot, there's no guarantee that it would always be able to mitigate downsides of various geopolitical shocks This is due to the complexity and interconnectivity of its supply chains. The Bottom Line The reopening of China is likely to have a positive impact on the global economy in 2023, and could help avoid major recessions in the Western world. If that's the case, then Tesla is likely to have another record year in which it has all the chances to outperform the expectations that would lead to an increase in its valuation. This makes me more bullish about Tesla, Inc. stock in the short to near term, as the revival of the growth story could lead to the toleration of higher multiples by the market and an appreciation of the TSLA share price from the current levels. As for the long-term, the bifurcation of a global system is more than likely to harm Tesla, Inc. due to the complexity and interconnectivity of its supply chains. These are more than likely to suffer another major disruption in case globalization continues to collapse. Brave New World Awaits You The world is in disarray and it's time to build a portfolio that will weather all the systemic shocks that will come your way. BlackSquare Capital offers you exactly that! No matter whether you are a beginner or a professional investor, this service aims at giving you all the necessary tools and ideas to either build from scratch or expand your own portfolio to tackle the current unpredictability of the markets and minimize the downside that comes with volatility and uncertainty. Sign up for a free 14-day trial today and see if it's worth it for you! This article was written by It was there that I started to combine my academic knowledge with a passion for investing to build an all-weather portfolio that could overcome periods of constant economic and political uncertainty. Given the systemic shocks that have been happening to Ukraine in the last decade, I saw firsthand what’s it like to live in an environment where there’s too much unpredictability and no guarantee that your endeavors won’t fail. Despite this, I managed to show strong returns and since 2015 have been sharing some of my ideas here on Seeking Alpha. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Bohdan Kucheriavyi and/or BlackSquare Capital is/are not a financial/investment advisor, broker, or dealer. He's/It's/They're solely sharing personal experience and opinion; therefore, all strategies, tips, suggestions, and recommendations shared are solely for informational purposes. There are risks associated with investing in securities. Investing in stocks, bonds, options, exchange-traded funds, mutual funds, and money market funds involves the risk of loss. Loss of principal is possible. Some high-risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including greater volatility and political, economic, and currency risks and differences in accounting methods. A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comments (62) Listen to Jim Chanos www.youtube.com/... --- Would you be so good as to link to any articles that support this statement? This is the first time I have heard of it. I'd say Giga Austin and Fremont are also a crucial part of the Tesla matrix.'No, Tesla just decided to throw large amounts of money at the local economies of these area for no reason whatsoever.Can yo state the obvious any differently? --- How can you say that when they are both physically larger than the Fremont factory which is already turning out approximately 700K-750K units per year?

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Tesla Price Cuts Trigger Desperate Fight For Survival In China's EV Market

Tesla price cuts have ignited a China EV price war, as market leaders, startups and foreign automakers fight for sales. Here's what's ahead.

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Tesla Price Cuts Trigger Desperate Fight For Survival In China's EV Market Tesla price cuts have ignited a China EV price war, as market leaders, startups and foreign automakers fight for sales. Here's what's ahead. Tesla price cuts have ignited a China EV price war, as market leaders, startups and foreign automakers fight for sales. Here's what's ahead.

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Tesla (TSLA) Gains As Market Dips: What You Should Know

Tesla (TSLA) closed at $173.44 in the latest trading session, marking a +0.3% move from the prior day.

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Tesla (TSLA) Gains As Market Dips: What You Should Know In the latest trading session, Tesla (TSLA) closed at $173.44, marking a +0.3% move from the previous day. This move outpaced the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%. Heading into today, shares of the electric car maker had lost 16.59% over the past month, lagging the Auto-Tires-Trucks sector's loss of 9.62% and the S&P 500's loss of 3.83% in that time. Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. In that report, analysts expect Tesla to post earnings of $0.86 per share. This would mark a year-over-year decline of 19.63%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.58 billion, up 25.71% from the year-ago period. For the full year, our Zacks Consensus Estimates are projecting earnings of $3.96 per share and revenue of $101.42 billion, which would represent changes of -2.7% and +24.5%, respectively, from the prior year. Any recent changes to analyst estimates for Tesla should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Tesla is holding a Zacks Rank of #3 (Hold) right now. Digging into valuation, Tesla currently has a Forward P/E ratio of 43.68. This represents a premium compared to its industry's average Forward P/E of 12.16. It is also worth noting that TSLA currently has a PEG ratio of 1.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TSLA's industry had an average PEG ratio of 1.52 as of yesterday's close. The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow TSLA in the coming trading sessions, be sure to utilize Zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here.

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Disney, Tesla, Netflix — Which earnings calls stood out this season

Yahoo Finance media reporter Allie Canal breaks down the standout earnings calls from the first quarter of 2023.

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Disney, Tesla, Netflix — Which earnings calls stood out this season Yahoo Finance media reporter Allie Canal breaks down the standout earnings calls from the first quarter of 2023. Video Transcript SEANA SMITH: Continuing to recap this latest earnings season, we definitely heard some notable lines dropped on the earnings calls here. Joining us now with a recall of some of the spiciest moments from this earnings season, Allie Canal. Allie, you got a lot to pick from here. What came out? ALLIE CANAL: Well, a lot to pick from. And look, this was an eventful earnings season. And the calls really elaborated on some of these headlines that we heard. The big one for me that sticks out is Disney. This was the first earnings call since CEO Bob Iger stepped back into that position in November. And boy, did he not hold back when it comes to some of the changes he's already implemented at the company. Take a listen. BOB IGER: We will be reducing our workforce by approximately 7,000 jobs. While this is necessary to address the challenges we're facing today, I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide, and I'm mindful of the personal impact of these changes. ALLIE CANAL: So right off the bat, 7,000 workers gone. He restructured the business into three units-- entertainment, parks, and ESPN. Investors, so far, they seem to like what they see from Iger. The stock is up modestly year to date. We know that shares in 2022, they experienced a very rough year. But Bob Iger, he's certainly made his presence known, and I felt that on the earnings call. DAVE BRIGGS: Indeed, he did. And a lot of question afterward about how much Nelson Peltz, activist investors, pushed him into the corner. And I know my take is maybe my own, but that he was going to do these things regardless of whether the activist investors were pressuring him to in terms of the reorg and the cost cuts, in terms of the layoffs. How much do you think was activist driven? ALLIE CANAL: I agree with you. I don't think much of this was activist driven. I'm sure it was in the background of conversations. But I think Bob Iger came into this company with a very clear idea of what he wanted to do. He's very strategic. He knows that he has to pivot sometimes, but he also knows when he has to cut back. And I think that's why he decided on those operational efficiencies, why he decided to cut back on labor. So I don't think that pressure from Nelson Peltz really had much of an impact. But who knows, really, what goes on behind the scenes? DAVE BRIGGS: Glad to hear you say that. Ann Berry and I got into a pretty heated argument-- ALLIE CANAL: Ooh. DAVE BRIGGS: --over that very subject. SEANA SMITH: Yeah, she was arguing the other side of it. But I mean, he's certainly making his mark known very, very quickly. And I think that's something everyone expected from Iger. All right, Allie, that's Disney. What else do you have? Tesla-- is that one of them? ALLIE CANAL: Oh, yeah, of course. We have to talk about Tesla, right? Elon Musk, he's the spiciest on all these earnings call. And I had to pull out this specific quote. Take a listen. ELON MUSK: Let me check my Twitter account. OK, so I've got 127 million followers. It continues to grow very rapidly. That suggests that I'm reasonably popular. And I might not be popular with some people, but for the vast majority of people, my follower count speaks for itself. ALLIE CANAL: There's just something about Elon Musk talking about how popular he is on Twitter during the Tesla's earnings-- DAVE BRIGGS: That's tech. Humble brag. ALLIE CANAL: --call that just got me. I had to include it in this recap because I mean, who else is like Elon Musk? There truly is no one. DAVE BRIGGS: He clearly was the most popular senior. But I'll bet he was not. We were talking about the high school superlatives. ALLIE CANAL: He was definitely not. DAVE BRIGGS: He was anything but that in high school. SEANA SMITH: Well, he's having the last laugh now with his [INAUDIBLE]. DAVE BRIGGS: --in high school. Hopefully he was most likely to succeed. SEANA SMITH: Yeah, he better have been most likely to succeed. If he wasn't, I want to know exactly who won that award. This is not surprising, though, coming from Elon Musk, given the fact that he can never just step to the sidelines. He has to comment on everything, and that's always on display on Twitter. ALLIE CANAL: Mm-hmm, and he is CEO of Twitter, CEO of Tesla, and it seems like he had Twitter on the brain for Tesla. And I also have one more that I want to call out. This is one that also in the media world, but one that I think was an important one for this company. I'm sort of teasing it. I'll play it here. REED HASTINGS: It really started about 10 years ago with the board, trying to think through how could this work. They both have such amazing talents and gifts. And to find a platform where they've been able to contribute is fantastic. About 2 and 1/2 years ago, we took a partial step. Ted is co-CEO. Greg is COO. We continue to just make super progress. And frankly, more and more, they've been leading the company. And this is acknowledging, really, in formal terms, how we've been operating for at least the last few quarters. ALLIE CANAL: Yeah, so Netflix CEO Reed Hastings stepping down from the company. And he said this was a plan that was in motion for a decade. And I just think this is very indicative of what's been happening across tech, across media. A lot of these old guard CEOs stepping down, making way for new leaders to take over and kind of leave this next phase of the company. And I thought that was a big theme this earnings season as well. DAVE BRIGGS: Do you see Netflix in a position of leadership in the streaming wars as we go forward towards Q1, Q2? ALLIE CANAL: Absolutely. I think currently, they're number one. They're the company to beat. They're the most mature. They've been in it the longest. So I do think that other younger players are catching up. I think over the next few years, we're going to see a lot of consolidation. But right now, the focus has shifted to profitability. That's something Netflix already has. They are a profitable business. Can they keep that up? Can they improve their free cash flow? That's always been the main question there. So I think right now, they're in a good position. And investors seem to like where they're at right now. But we'll see in the coming quarters what happens there in terms of not just them, but really all the streamers. DAVE BRIGGS: And an interesting pivot for Netflix into sports without paying the absurd sports media rights. Some of the documentary series have been very successful for them and, clearly, their tool in getting into sports without paying a ton. Allie Canal, thank you so much.

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AI will touch ‘every part of our lives, every form of human labor,’ analyst explains

ARK Invest Co-Lead, ARK Venture and Analyst Will Summerlin discusses the rise of ChatGPT and AI coding assistants and details the potential value creation of AI technology.

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AI will touch ‘every part of our lives, every form of human labor,’ analyst explains ARK Invest Co-Lead, ARK Venture and Analyst Will Summerlin discusses the rise of ChatGPT and AI coding assistants and details the potential value creation of AI technology. Video Transcript [AUDIO LOGO] - This last quarter saw the rise of artificial intelligence, AI, with ChatGPT launching the technology into the spotlight. But with many of tech's biggest players working on AI products of their own, who are the winners, and what's the investment opportunity there? To discuss this, we want to bring in Will Summerlin. He's ARK Invest Co-Lead and Analyst. Will, it's great to see you again. So during this earnings season, our colleague Josh Schafer was just saying that, of the big tech companies, AI was mentioned over 100 times on the earnings call. What was your big takeaway from all this hype surrounding AI? WILL SUMMERLIN: Well, I think people are realizing its potential. With ChatGPT, we saw the fastest-growing software product in history. It grew from 0 to 100 billion users in 60 days. And so, this isn't hype. This is customers seeing real value out of technology. I think when you think about the investable universe of AI, we really think about it in two buckets. On one hand, we have the infrastructure plays, the picks and shovels plays. So think of NVIDIA, for example, on the public side. On the private side, we just invested in a company called MosaicML, which helps companies train their own AI models. And then the other bucket is applications. So companies that are actually embracing AI and building customer experiences around that, helping customers solve problems using AI. ChatGPT is an example of an application. Another example of an application is AI coding assistance. There is a company called Replit, which is a growth-stage startup that has a chat assistant or an AI coding assistant called Ghostwriter that's blown up in popularity. It's making software engineers more than twice as productive. And if you think about the value creation opportunity here, knowledge workers make about $32 trillion a year, collectively. And we're already seeing cases where AI is doubling their productivity. And so, the value creation here is going to be incredible. We think it might actually be the greatest form of value creation we've seen out of any technology trend-- greater than the internet, greater than mobile, greater than cloud. And so there's certainly excitement around the opportunity, and companies are really pivoting to capture the potential. - That is quite a significant statement, Will. In terms of sectors you see poised to benefit the most, is there one that stands out? WILL SUMMERLIN: Yeah. I think knowledge work, broadly. This applies to legal. This applies to software engineering. This applies to most domains of knowledge work. The incredible thing about AI is it really automates thinking. We think about technology throughout history, it's automated physical labor. And so we saw this with a tractor. It made farms 17 times as productive. And we're starting to see this with knowledge work, where AI is actually helping us do tasks that require a lot of thinking. And so software engineering is probably the best example we've seen so far. We're seeing applications like Replit Ghostwriter. We're also seeing this from GitHub Copilot. More than double the productivity of software engineers, and that's a class of knowledge workers that's highly paid, $200,000-a-year software engineer that gets double the productivity all of a sudden because of an AI coding assistant. That's incredible. We're also seeing this in legal, right? We're seeing assistance in legal that reduce the cost of contract reviews by 70%, 80%, 90%, because instead of having a human go through every single line in the contract, you can use AI to do the review, and then a human just to look at the things where there may be issues. And so we think this is going to apply broadly. There are also areas where there is significant cost-savings potential. And so if we think about contact centers, for example. Labor in contact centers is challenging. It's a relatively unsatisfactory job, and so the churn is very high. In many cases, the churn is over 100%, meaning people actually don't stay an entire year once they join a contact center staff. So you train an employee, and then three, four, or five months later, they leave. That's an area where it's ripe for automation. We're starting to see companies like Twilio embrace that opportunity and build AI models to really automate contact centers. And so I think this is going to touch pretty much every form of our life or every part of our lives and pretty much every form of human labor. - So Will, it sounds like you think it's going to have a significant impact on the job market. What's the extent of that? WILL SUMMERLIN: If you look at technology throughout history, everyone always says that technology is going to lead to mass unemployment, and that's not been true in the past. Technology has always led to a higher quality of life, and it's actually spurred job growth. And I think the same thing is going to happen here. Humans are creative beings, and when we're able to get leverage over a time with technology, we find ways to create value. And so I think, ultimately, this will actually lead to a higher quality of life, and probably be an accelerate to job growth. - Will, you've got some winners, and we have to ask you about Tesla and their advantage in this space. WILL SUMMERLIN: So when we think about investing in application layer AI companies, we think about it on three axes. The first is a data advantage. Can they develop a data advantage that allows them to train superior AI models and really outcompete their competitors? That's an advantage that grows with scale. And so like network effects, the more data you have, the better your models become. The better your models, the more customers you get. The more customers you get, the more data you get. And this flywheel sort of continues. We've seen that with Tesla. They have billions of miles recorded through their full self-driving suite, and that's going to be hard for others to compete with. So they have a data advantage that's continuing to scale. Second is vision. Do they have a leader at the company who is going all-in on AI and burning the boats and committing the company to the future of AI? And Elon is definitely doing that. It would be hard to argue that he's not. And third is distribution. Do they have a distribution advantage that they can leverage to deploy AI capabilities? Tesla certainly does. They already have a large fleet of vehicles, and the AI autopilot or full self-driving capability is included as a feature in those vehicles. So it certainly meets the three criteria for us - Well, Will, you're certainly making a compelling case for that. Will Summerlin, great to have you. Thanks so much.

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12 Best Lithium And Battery Stocks To Buy Now

In this article, we will look at the 12 best lithium and battery stocks to buy now. If you want to explore similar stocks, you can also take a look at 5 Best Lithium And Battery Stocks To Buy Now. Global EV Sales Grew By 68% Year Over Year The EV industry is growing at […]

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12 Best Lithium And Battery Stocks To Buy Now In this article, we will look at the 12 best lithium and battery stocks to buy now. If you want to explore similar stocks, you can also take a look at 5 Best Lithium And Battery Stocks To Buy Now. Global EV Sales Grew By 68% Year Over Year The EV industry is growing at a remarkable pace. According to WSJ, 7.8 million units of all-electric vehicles were sold across the globe in 2022, up 68% year over year, and accounted for roughly 10% of global car sales. China, Europe, and the U.S. were the leading regions that experienced growth in EV sales. In 2022, all-electric vehicles made up for 19% of total car sales in China, followed by 11% in Europe, and 5.8% in the United States. EV Price War While electric vehicles have gained tremendous popularity in recent years due to their eco-friendly nature and governments' efforts to combat climate change, a major headwind for electric vehicles is still costs. Batteries account for a major chunk of the price of an electric vehicle. On average, batteries account for about one-third of the total cost of an electric vehicle. However, advancements in battery technology and optimization of manufacturing processes is now allowing major automakers to cut costs of their EVs. In January 2023, Tesla Inc. (NASDAQ:TSLA) initiated an EV price war after the auto giant announced that it is slashing prices of its electric vehicles by 20% across the globe. This move triggered Ford Motor Company (NYSE:F) to rival the EV giant by announcing price cuts for its all-electric Mustang Mach E. Why Care About Lithium and Battery Stocks? As car manufacturers continue to pour hefty investments into battery technology to cut production costs and make their products more accessible to consumers, lithium and battery stocks are well-positioned to soar. The global lithium market is on track to reach a value of $22.6 billion by 2030, according to ReportLinker, and the global EV battery market is expected to be worth $84.5 billion by 2030. With growing EV sales and increasing competition among manufacturers to cut EV prices, lithium and battery stocks are becoming attractive investment options. Some of the top lithium and battery stocks that are popular among elite money managers include Sociedad Quimica y Minera (NYSE:SQM), FREYR Battery (NYSE:FREY), Albemarle Corporation (NYSE:ALB). Let's now discuss these stocks, among others, in detail below. Photo by Mika Baumeister on Unsplash Our Methodology To determine the best lithium and battery stocks to buy now, we sifted through lithium and battery ETFs and compiled a list of pure-play EV battery and lithium stocks. We narrowed down our selection to stocks that were the most popular among hedge funds. We have ranked these stocks in ascending order of the number of hedge funds that have stakes in them. Best Lithium And Battery Stocks To Buy Now 12. Piedmont Lithium Inc. (NASDAQ:PLL) Number of Hedge Fund Holders: 11 Piedmont Lithium Inc. (NASDAQ:PLL) is involved in the exploration and development of lithium projects in the United States. The company is developing 4 lithium projects currently in North Carolina, Tennessee, Ghana, and Quebec, and is on track to become one of the largest lithium hydroxide producers in the United States. This March, Macquarie analyst Hayden Bairstow started coverage of Piedmont Lithium Inc. (NASDAQ:PLL) with an Outperform rating and a $140 price target. As of March 9, the stock has gained 32.44% year to date and is one of the best lithium and battery stocks to buy now. At the end of Q4 2022, 11 hedge funds held stakes in Piedmont Lithium Inc. (NASDAQ:PLL). The total value of these stakes amounted to $31.6 million. Top stocks that will benefit from growing EV adoption include Piedmont Lithium Inc. (NASDAQ:PLL), Sociedad Quimica y Minera (NYSE:SQM), FREYR Battery (NYSE:FREY), and Albemarle Corporation (NYSE:ALB). 11. Sigma Lithium Corporation (NASDAQ:SGML) Number of Hedge Fund Holders: 11 Sigma Lithium Corporation (NASDAQ:SGML) is another leading lithium mining company, based in Brazil. At the end of the fourth quarter of 2022, 11 hedge funds were long Sigma Lithium Corporation (NASDAQ:SGML) and disclosed positions worth $54.9 million in the company. This is compared to 8 hedge funds in the preceding quarter with stakes worth $45.5 million. The hedge fund sentiment for the stock is positive. This January, BMO Capital analyst Joel Jackson took coverage of Sigma Lithium Corporation (NASDAQ:SGML) with an Outperform rating and a $40 price target. As of March 9, Sigma Lithium Corporation (NASDAQ:SGML) has gained 208.52% over the past 12 months. Sigma Lithium Corporation (NASDAQ:SGML) is ranked among the best lithium and battery stocks to buy now. As of December 31, Potrero Capital Research is the most prominent investor in Sigma Lithium Corporation (NASDAQ:SGML) and has disclosed a position worth $14 million in the company. 10. Microvast Holdings, Inc. (NASDAQ:MVST) Number of Hedge Fund Holders: 12 Microvast Holdings, Inc. (NASDAQ:MVST) is an American battery manufacturing company. The company is involved the in the design and development of battery systems for electric vehicles and energy storage systems, as well as battery component including anodes, cathodes and electrolytes. In December 2022, Microvast Holdings, Inc. (NASDAQ:MVST) secured a contract from a U.S. customer to provide a utility-scale battery energy storage system. At the close of the fourth quarter of 2022, Microvast Holdings, Inc. (NASDAQ:MVST) was held by 12 hedge funds. These funds held collective positions worth $24.7 million in the company. This is compared to 11 hedge funds in the previous quarter with stakes worth $24.1 million. Microvast Holdings, Inc. (NASDAQ:MVST) is one of the best battery stocks to buy now according to hedge funds. In addition to automakers Tesla Inc. (NASDAQ:TSLA) and Ford Motor Company (NYSE:F), battery stocks such as Microvast Holdings, Inc. (NASDAQ:MVST) are also well-positioned to capitalize on the growth trends of the EV industry. 9. Lithium Americas Corp. (NYSE:LAC) Number of Hedge Fund Holders: 14 Lithium Americas Corp. (NYSE:LAC) is a lithium mining company with operations in the United States and Argentina. On March 2, Lithium Americas Corp. (NYSE:LAC) began construction at its Thacker Pass lithium project in Nevada. As of March 9, the stock has gained 21.70% year to date. On March 8, PI Financial analyst Justin Stevens took coverage of Lithium Americas Corp. (NYSE:LAC) with a Buy rating and a C$40 price target. Stevens noted that the company is offering an attractive opportunity" to investors looking for investing in domestic production of battery-grade lithium. At the end of Q4 2022, 14 hedge funds were bullish on Lithium Americas Corp. (NYSE:LAC) and held collective stakes worth $120.8 million in the company. The stock is placed ninth among the best lithium and battery stocks to buy according to hedge funds. As of December 31, Himension Capital is the leading investor in the company and disclosed a position worth $58 million. Here is what Massif Capital had to say about Lithium Americas Corp. (NYSE:LAC) in its Q4 2022 investor letter: “Our final pre-production mining firm in the portfolio is Lithium Americas Corp. (NYSE:LAC). We have been invested in Lithium America since January 2020, with an average price of roughly $2.8 per share. Interestingly enough, as a result of successfully trading options around our core position, we have generated options premium per share of $2.03, so our effective cost of ownership is $0.77. The shares are currently trading for $20.72, an unrealized return of 2,590%, although it is worth noting that the stock got as high as $38.94 per share, a 4,957% return. In retrospect, we probably misplayed this. When the stock peaked at $38 per share in February/March 2022, we believed the firm, in the fullness of time, could be worth as much as $46 per share, an additional 21% return. At the same time, we felt that the stock had run well ahead of itself; after all, we believed it could be worth $46 per share with two mines operating, not when it was pre-production at two mines…” (Click here to read the full text) 8. EnerSys (NYSE:ENS) Number of Hedge Fund Holders: 17 EnerSys (NYSE:ENS) is a leading American battery manufacturing and energy solutions company, headquartered in Pennsylvania. On February 8, the company posted earnings for the fiscal third quarter of 2023. The company reported an EPS of $1.27 and outperformed EPS estimates by $0.04. The company's revenue for the quarter amounted to $920.20 million. EnerSys (NYSE:ENS) is one of the best lithium and battery stocks to buy now and has gained 30.82% over the past 6 months. Over the past 3 months, EnerSys (NYSE:ENS) has received 2 Buy ratings from Wall Street analysts. The stock has an average price target of $99.50, which represents an upside of roughly 14.5% from current levels. EnerSys (NYSE:ENS) was a part of 17 investors' portfolios at the end of Q4 2022. These funds held collective stakes worth $299.6 million in the company, up from $251.2 million in the preceding quarter with 18 positions. As of December 31, Scopia Capital is the leading investor in EnerSys (NYSE:ENS) and has a stake worth $77.2 million. Here is what Vulcan Value Partners had to say about EnerSys (NYSE:ENS) in its Q4 2022 investor letter: “EnerSys (NYSE:ENS) is a global leader in stored energy solutions for industrial applications. It supplies motive power batteries for trucks and forklifts, specialty batteries for satellites and military equipment, battery chargers, power converters and distributors, and outdoor equipment enclosures, amongst many other products and systems. Over the past three years, the business faced COVID-19 lockdowns, inflationary cost increases, and restricted access to the critical product components needed for its more complex, higher return products. On its most recent quarterly earnings call, management was confident the business had finally worked past many of these issues and expressed optimism that costs were beginning to level off, supply chain issues were easing, and EnerSys could resume converting its backlog into revenue. The stock price responded favorably to the quarterly results and management’s comments, and we continue to see plenty of opportunity for sequential improvement ahead.” EV stocks that are on both analysts' and investors' radars include EnerSys (NYSE:ENS), Tesla Inc. (NASDAQ:TSLA), and Ford Motor Company (NYSE:F). 7. Solid Power, Inc. (NASDAQ:SLDP) Number of Hedge Fund Holders: 18 Solid Power, Inc. (NASDAQ:SLDP) is involved in the development and manufacturing of solid state battery technologies for electric vehicles. At the end of the fourth quarter of 2022, Solid Power, Inc. (NASDAQ:SLDP) was spotted on 18 hedge funds' portfolios that disclosed collective positions worth $11.5 million in the company. The stock is placed seventh on our list of the best lithium and battery stocks to buy now according to hedge funds. On February 28, Solid Power, Inc. (NASDAQ:SLDP) reported strong earnings for the fiscal fourth quarter of 2022, in which it beat EPS estimates by $0.10. The company's revenue for the quarter amounted to $4.20 million, up 302.49% year over year and ahead of expectations by $3.57 million. On March 8, Needham analyst Chris Pierce started coverage of Solid Power, Inc. (NASDAQ:SLDP) with a Buy rating and a $5 price target. As of December 31, Yaupon Capital is the top investor in the company and has disclosed a position worth $2.6 million. 6. QuantumScape Corporation (NYSE:QS) Number of Hedge Fund Holders: 21 QuantumScape Corporation (NYSE:QS) is an emerging and innovative battery manufacturing company, based in California. The company is involved in the development and commercialization of solid state lithium metal batteries for electric vehicles. As of March 9, the stock has returned 35.56% to investors year to date. QuantumScape Corporation (NYSE:QS) is one of the best lithium and battery stocks to buy according to hedge funds. At the close of Q4 2022, 21 hedge funds held stakes in QuantumScape Corporation (NYSE:QS). The total value of these stakes amounted to $39.5 million. As of December 31, Jonathan Soros' JS Capital is the largest shareholder in QuantumScape Corporation (NYSE:QS) and has disclosed a position worth $11.5 million in the company. Some of the most widely-held lithium and battery stocks by elite money managers include QuantumScape Corporation (NYSE:QS), Sociedad Quimica y Minera (NYSE:SQM), FREYR Battery (NYSE:FREY), and Albemarle Corporation (NYSE:ALB). Click to continue reading and see 5 Best Lithium And Battery Stocks To Buy Now. Suggested articles: Disclosure: None. 12 Best Lithium And Battery Stocks To Buy Now is originally published on Insider Monkey.

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Elon Musk gave 12.5 million Tesla shares to charity last year: amended filing

Tesla Inc. Chief Executive Elon Musk gave more than 12.5 million shares of the company’s stock to charity, according to a filing with the Securities and...

MarketWatch

Tesla Inc. TSLA, +0.07% Chief Executive Elon Musk gave more than 12.5 million shares of the company’s stock to charity, according to a filing with the Securities and Exchange Commission on Friday that amended a previous filing because the shares reported had not been adjusted for last year’s stock split. Based on SEC filings last month, MarketWatch and others reported that Musk had donated nearly 12 million shares worth about $2 billion to an undisclosed charity. Bloomberg reported last year that most of Musk’s charitable giving in 2021 went to his own foundation.

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Cathie Wood's ARK Fund set for worst week since Sept as higher rates loom

Big declines in holdings including Tesla Inc and 2U Inc are leaving star stock picker Cathie Wood's flagship ARK Innovation Fund on pace for its worst weekly decline since September as the Federal Reserve appears ready to hike interest rates further. Tesla, the fund's top holding, is down nearly 11% for the week to date, while online education company 2U Inc is down nearly 18% for the week.

Yahoo

Cathie Wood's ARK Fund set for worst week since Sept as higher rates loom By David Randall NEW YORK (Reuters) - Big declines in holdings including Tesla Inc and 2U Inc are leaving star stock picker Cathie Wood's flagship ARK Innovation Fund on pace for its worst weekly decline since September as the Federal Reserve appears ready to hike interest rates further. Tesla, the fund's top holding, is down nearly 11% for the week to date, while online education company 2U Inc is down nearly 18% for the week. Overall, the fund is down approximately 10% for the week to date, its worst weekly performance since an 11.1% decline in the week ending Sept. 23, according to Refinitiv data. None of the 27 companies in the fund's portfolio are in positive territory for the week. Ark Invest did not immediately respond to a request for comment. The $7 billion fund, which soared during the 2020 pandemic lockdowns, is often seen as a measure of investor's tolerance for riskier assets, analysts say. A hawkish message from Federal Reserve Chair Jerome Powell in testimony before Congress this week prompted investors to price in additional interest rate hikes this year, dealing a blow to the sort of high-growth, speculative companies that Wood favors. Higher rates weigh heavily on technology stocks by increasing the cost of borrowing and decreasing the value of expected future profits. Markets are now pricing in a 49% chance that the Federal Reserve raises rates by 50 basis points to a range of 5%-5.25%, up from a 28% chance at this time last week, according to CME's FedWatch Tool. "(ARK) is a good barometer of sentiment toward higher risk, higher reward investments. When investors shift to a risk-off mindset this ETF tends to decline as the fund invests in securities tied to long-term themes," said Todd Rosenbluth, head of research at data analysts company VettaFi. Overall, it remains up 17% for the year to date, a performance driven largely by a gain of more than 25% in January, the best monthly performance in its history (Reporting by David Randall; Editing by Kirsten Donovan)

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GM Makes Major Adjustment to Fight Tesla

General Motors wants to send a clear message: The Detroit automaker is determined to fight in, and become a major player in, the electric-vehicle market, which is considered the future of cars. In recent months, the Detroit giant has lagged behind Tesla and Ford and even EV upstarts like Rivian . Tesla launched a price war by drastically lowering the prices of its vehicles.

Yahoo

GM Makes Major Adjustment to Fight Tesla General Motors wants to send a clear message: The Detroit automaker is determined to fight in, and become a major player in, the electric-vehicle market, which is considered the future of cars. In recent months, the Detroit giant has lagged behind Tesla and Ford and even EV upstarts like Rivian . Tesla launched a price war by drastically lowering the prices of its vehicles.

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Tesla Inc. stock rises Friday, outperforms market

Shares of Tesla Inc. inched 0.30% higher to $173.44 Friday, on what proved to be an all-around poor trading session for the stock market, with the NASDAQ...

MarketWatch

Shares of Tesla Inc. TSLA, +0.07% inched 0.30% higher to $173.44 Friday, on what proved to be an all-around poor trading session for the stock market, with the NASDAQ Composite Index COMP, +0.55% falling 1.76% to 11,138.89 and Dow Jones Industrial Average DJIA, +0.93% falling 1.07% to 31,909.64. The stock's rise snapped a four-day losing streak. Tesla Inc. closed $210.85 below its 52-week high ($384.29), which the company reached on April 5th. Trading volume (190.4 M) eclipsed its 50-day average volume of 188.5 M. Editor's Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Dow Jones and FactSet. See our market data terms of use.

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Tesla: Back To Basics

There has never been a shortage of news surrounding Tesla, Inc., much of it causing large stock price movements on a day-to-day basis. Click for our take on TSLA.

SeekingAlpha

Tesla: Back To Basics Summary - There has never been a shortage of news surrounding Tesla, Inc., many of them causing large stock price movements on a day-to-day basis. - This article goes back to its production and manufacturing roots. - In the end, a manufacturing business has to be able to cut its cumulative unit cost as described by the so-called Wright’s Law. - And in Tesla's case, its data have been keeping pace with the law thus far, and I see reasons why it would keep doing so. - Looking for a helping hand in the market? Members of Envision Early Retirement get exclusive ideas and guidance to navigate any climate. Learn More » Thesis Tesla, Inc. (NASDAQ:TSLA) can be considered a story stock, meaning its value is driven more by investors' belief in the company's narrative and potential future growth. Its charismatic CEO, Elon Musk, has been a key part of the company's story and keeps adding color to the story. And my thesis is simple here: it does not have to be and should not be. This article goes back to its production roots. And I will argue that no matter what the narratives are, in the end, an electric vehicle ("EV") manufacturing business is still governed by the same basic laws that have governed manufacturing in the past. The remainder of this article will focus on one such particular law: the so-called Wright’s Law. And I will explain why my analysis shows that TSLA has been keeping pace with the law thus far and successfully cutting its cost as its production scales up – amid all the recent challenges. And furthermore, I see reasons why it would keep doing so to further widen its competitive advantage as these challenges abate. Wright’s Law and the Ford Model T Wright's law refers to an EMPIRICAL OBSERVATION that states that for every cumulative doubling of units produced, the cost of production decreases by a constant percentage. Specifically, the law states that for every doubling of cumulative units produced, the cost of production decreases by a constant percentage that has been observed to the in the range of 10-30%. Theodore Wright made this observation in the aircraft industry first. But the law has since been found to have broad applicability to other industries that did not even exist in his days yet, such as semiconductors, mass automobile production, and battery cell production. To wit, the chart depicts the production data of the Ford Motor Company (F) Model T between 1909-1923. The data (those dots) were fitted to Wright's law. As seen, the fitting (the thick line amid all the dots) shows a linear relationship on a double logarithm scale - precisely consistent with the law's prediction. In particular, the slope of this line is ~15%, indicating that Ford’s Model T has been able to achieve a 15% reduction in costs per doubling of cumulative production. Bear this number in mind as we move on to examine TSLA’s data next so you can better contextualize TSLA’s results. Wright’s Law and TSLA It's common knowledge that TSLA has been ramping up its EV deliveries rapidly, as seen in the chart below: just like Ford did with its model T in its hay days. In 2022 Q4 alone, Tesla delivered 405,278 vehicles. And for the full year of 2022, Tesla delivered approximately 1.31 million vehicles. However, more products sold do not automatically translate into more profits earned. And the key link in-between is the unit cost that Wright’s law describes, as we will examine next. The following graph is a busy chart, and I will guide you through it step by step. But in essence, it illustrates a fitting of TSLA's delivery data according to Wright's Law, just like the chart fitting Ford Model T’s data you’ve seen earlier. The vertical axis displays TSLA's cumulative average unit cost, which was calculated by dividing its total cost of revenue by the total number of vehicles sold since 2013, when the company sold its first batch of vehicles. The horizontal axis represents the cumulative number of vehicles sold since 2013. Both the vertical and horizontal axes are in log scale. And as a result, just like in the Ford Model T case, the fitting should be a descending line if the data adhere to the law. Well, you can clearly see the fitting is a bit messier than in Ford's case. Nonetheless, the general trend is declining. I believe this non-perfect fit is primarily due to the early stage that TSLA has been in around 2013. It has made significant changes to its models and production methods, causing deviations from the expected trend. For instance, with its relatively small scale in 2013, the addition of each giga-factory could substantially alter the slope of the fitting. All told, if we put the data points into two groups and perform segmented fitting on each group, each data group fits well with Wright's Law. More specifically, the orange line represents the fitting for TSLA's earlier years (2013-2015), while the green line represents the fitting for the larger scale production and delivery since 2017. The green line has a slope that corresponds to a 10% unit cost reduction per production doubling. Now let me draw your attention to the 2022 data. The 2022 quarterly data points are highlighted in the orange box. As seen, these data points show that TSLA's more recent cost reduction has also been keeping pace with Wright's Law. Actually, one of its quarterly results showed an accelerated reduction as seen. Between 2013 and Q4 2022, TSLA delivered a cumulative total of 3.64 million vehicles and incurred $186.2 billion in cumulative cost of revenue. Thus, its cumulative average unit cost is $50.99k per vehicle delivered so far. To put this into perspective, the average unit cost up to 2021 was $53.7k. As a result, it's 2022's cumulative unit cost is ~5% lower than the 2021 figure. In my opinion, this is a fundamental signal that verifies TSLA's technological and logistical leadership. Despite facing a range of challenges over the past one or two years (more on this next), TSLA was able to keep reducing costs and remain competitive. As these challenges (such as raw material costs, COVID interruptions, and inflation gradually ease), I am optimistic that TSLA can further reduce its unit costs and increase its profitability. The road ahead If you recall, Ford’s Model T has been able to achieve a 15% reduction in costs per doubling of cumulative production. And TSLA’s data since 2017 has been showing a reduction of 10%. I would treat this as a strong testament to TSLA’s success considering that the Ford Model T probably is among the most successful products, not only within the auto industry, ever made by one single company. And looking ahead, I see a few catalysts that could further help TSLA to reduce cost even more rapidly. And here I will focus on two of them: its FSD (Full Self-Driving) technology and also its expanding infrastructure. I started the article with the premise that the same Wright law that governed Ford’s model T will keep governing TSLA and other EVs. However, the advancements of autonomous driving technology might create a new cost reduction curve. Model T started and ended as a hardware. However, TSLA’s models might eventually become a platform or network and no long be a hardware due to its FSD. In its recent Q4 earnings report, Elon Musk highlighted that Tesla's FSD Beta have attractive a large diver base (about ~100k test drivers), and they have accumulated an astounding 35 million miles of autonomous driving on public roads. As such, TSLA’s FSD has accumulated more autonomous miles than any other rival platforms. And the value of platform precisely resides in the user base and amount of data available in the platform. The purchase of another Model T by my neighbor does not increase the value of the model T that I own. However, in a network, the platform becomes more valuable to each of its members as additional members join. It is a potential that Ford’s model T did not provide. As FSD matures and its user base further expands, it could reduce the cost and improve the convenience for each of its drivers. It could also create significant impacts on a range of related sectors, such ride-sharing services and public transportation. Along the line of the network effects, another factor that accelerates TSLA cost reduction is the maturity of its infrastructure. TSLA have been building its EV infrastructure from the ground up, including charging stations and service shops. Unlike gas stations, these infrastructures were essentially nonexistent till recent years. And TSLA had to invest substantial capital to expand them. And in my opinion, it has been still playing catching up on this front. For example, Tesla's new supercharging stations have grown to 395 as of Q4 2022, translating into an annual growth rate of 78% and far outpacing its YoY vehicle delivery growth of 44%. But even at this pace, it will take more time and CAPEX to fully meet the need. For example, in a recent announcement from the Biden administration, TSLA is said to expand its charges to 7,500 in the U.S. alone by 2024. Quote: “… open a portion of its U.S. Supercharger and Destination Charger network to non-Tesla EVs, making at least 7,500 chargers available for all EVs by the end of 2024.” These infrastructure investments require a large upfront cost. And once they are built, they could pay dividends for years or decades to come. Hence, in a way, they are paving the way for future profitability today. Especially, by opening up its Supercharger network to other EVs, its network could be potentially more valuable in the EV ecosystem. Risks and final thoughts There are some headwinds on the near horizon. The computer chip shortage has plagued the auto industry in the wake of the pandemic. And the aftermath is still persisting and could create difficulty for the company to meet its goal of producing 1.8 million vehicles this year. Also, raw material prices remain at an elevated level and so does the rate of inflation. These challenges could create wide fluctuations in TSLA’s production and delivery schedule, as you can clearly see from its inventory data in recent quarters. As highlighted in the yellow box below, its global vehicle inventory, in days of supply, widely fluctuated in the past year from as low as 3 days to the current level of 13 days. All told, I suggest TSLA investors ignore the “story” aspect of the stock and focus more on its basics. In the end, a manufacturing business, whether in Ford's or Musk’s age, is still governed by the same basic laws. A successful manufacturing business has to keep cutting its production cost to remain competitive as Wright’s Law described. TSLA’s production and delivery results so far are keeping pace with Wright’s Law from my analysis. And looking ahead, I see a few catalysts that have the potential to help TSLA such as the advancements in its FSD technology and also the maturity of its infrastructure. As you can tell, our core style is to provide actionable and unambiguous ideas from our independent research. If your share this investment style, check out Envision Early Retirement. It provides at least 1x in-depth articles per week on such ideas. We have helped our members not only to beat S&P 500 but also avoid heavy drawdowns despite the extreme volatilities in BOTH the equity AND bond market. Join for a 100% Risk-Free trial and see if our proven method can help you too. This article was written by ** Disclosure: I am associated with Sensor Unlimited. ** Master of Science, 2004, Stanford University, Stanford, CA Department of Management Science and Engineering, with concentration in quantitative investment ** PhD, 2006, Stanford University, Stanford, CA Department of Mechanical Engineering, with concentration in advanced and renewable energy solutions ** 15 years of investment management experiences Since 2006, have been actively analyzing stocks and the overall market, managing various portfolios and accounts and providing investment counseling to many relatives and friends. ** Diverse background and holistic approach Combined with Sensor Unlimited, we provide more than 3 decades of hands-on experience in high-tech R&D and consulting, housing market, credit market, and actual portfolio management. We monitor several asset classes for tactical opportunities. Examples include less-covered stocks ideas (such as our past holdings like CRUS and FL), the credit and REIT market, short-term and long-term bond trade opportunities, and gold-silver trade opportunities. I also take a holistic view and watch out on aspects (both dangers and opportunities) often neglected – such as tax considerations (always a large chunk of return), fitness with the rest of holdings (no holding is good or bad until it is examined under the context of what we already hold), and allocation across asset classes. Above all, like many SA readers and writers, I am a curious investor – I look forward to constantly learn, re-learn, and de-learn with this wonderful community. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comments (156) This story started with one owner getting in the wrong Tesla and being able to drive away. I've explained how that could have happened here: seekingalpha.com/...The story seems to have been embellished. I don't think the second driver driving away in the other Tesla is real. It would mean that both owners made the same mistakes. The odds are astronomical.Tesla key cards are as secure as credit cards, and Tesla phone keys need to be paired like bluetooth, and the Tesla app and the Car need to authenticate public/private keys before anyone can drive. As mentioned in my linked comment, Tesla owners can, and should, set a PIN that needs to be entered before driving to prevent car jacking and other people driving your car if you leave the key in the car and the car unlocked. "Bet on the best strategy, best execution, best engineering, and the best product pipeline. It's Tesla... nobody else comes close." This is really not a mystery: Tesla cars come with two keys that look like credit cards. Owners can turn their smart phone into an additional key by downloading the Tesla app and pairing the phone with the car using their credit card key to prove their identity. There is no way that a Tesla app can unlock a stranger's car. However, this story would make sense if the stranger left their keycard on the console when they left their car. This would be like leaving the key in the ignition of an ICE car with the doors unlocked. Obviously, Tesla owners should not do that, and they should set a PIN so that car requires a key and PIN to drive the car. In this case, the stranger did not do that.In this case, the person who got in the stranger's car thought that their cell phone had unlocked the car but he simply entered an unlocked Tesla. If his phone unlocked any Tesla, it was his own ... assuming that was the only Tesla with which his phone was paired. The broader scale it reaches, the lower the cost per user. Why are you denying this obvious fact? Inventory has been decreasing as of late, not increasing. FYI: The FSD issues raised by the NHTSB recall have already been addressed in FSD Beta version 11.x which has started rolling out. Tires, suspension, ect, exists already for a long time, you won't have the same cost reductions on those components. The same holds true for electromotors fe, which also have existed for a very long time. Also, maybe Tesla has the most miles driven, havent checked, but makes sense. However, for miles driven per disengagement, which is a far better metric, Tesla is nowhere to be found: www.statista.com/... You're right, over two years old. Here's some metrics from California in 2022, where EVERY autonomous vehicle manufacturer HAS to report the numbers. thelastdriverlicenseholder.com/...Tesla isn't in the list, because of the following: An autonomous test vehicle does not include vehicles equipped with one or more systems that provide driver assistance and/or enhance safety benefits but are not capable of, singularly or in combination, performing the dynamic driving task on a sustained basis without the constant control or active monitoring of a natural person. 20% Lighter Drive Unit 25% Less Rare Earth Materials 75% Smaller Powertrain Factory 65% Cheaper Powertrain FactorySLIDE 69 Reduced Cost of Model 3/Y Center Display Cost Down 24% Weight Down 12% Power Down 33%

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Tesla Falls, but This Undervalued Stock Is Soaring

On Thursday, March 9, Tesla (NASDAQ: TSLA) fell 5%, but this stock soared over 20%. In this video, I will talk about Build-A-Bear Workshop (NYSE: BBW) and go over its recent earnings report, which yet again showed why this company is still undervalued.

Yahoo

Tesla Falls, but This Undervalued Stock Is Soaring On Thursday, March 9, Tesla (NASDAQ: TSLA) fell 5%, but this stock soared over 20%. In this video, I will talk about Build-A-Bear Workshop (NYSE: BBW) and go over its recent earnings report, which yet again showed why this company is still undervalued.

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Tesla Battery Supplier CATL Sees Profits Surge Amid Global EV Boom

CATL earnings nearly doubled in 2022 capped by a strong fourth quarter. It cited global EV demand. China EV stocks fell.

Yahoo

Tesla Battery Supplier CATL Sees Profits Surge Amid Global EV Boom CATL earnings nearly doubled in 2022 capped by a strong fourth quarter. It cited global EV demand. China EV stocks fell. CATL earnings nearly doubled in 2022 capped by a strong fourth quarter. It cited global EV demand. China EV stocks fell.

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Dow Jones Slides On Strong Jobs Report; Silicon Valley Bank Crashes 66% On Bank Run Fears

The Dow Jones dropped Friday on a strong jobs report. Silicon Valley Bank crashed 66% on growing fears of a bank run.

Yahoo

Dow Jones Slides On Strong Jobs Report; Silicon Valley Bank Crashes 66% On Bank Run Fears The Dow Jones dropped Friday on a strong jobs report. Silicon Valley Bank crashed 66% on growing fears of a bank run. The Dow Jones dropped Friday on a strong jobs report. Silicon Valley Bank crashed 66% on growing fears of a bank run.

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Here is What to Know Beyond Why Tesla, Inc. (TSLA) is a Trending Stock

Zacks.com users have recently been watching Tesla (TSLA) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

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Here is What to Know Beyond Why Tesla, Inc. (TSLA) is a Trending Stock Tesla (TSLA) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Over the past month, shares of this electric car maker have returned -16.6%, compared to the Zacks S&P 500 composite's -3.8% change. During this period, the Zacks Automotive - Domestic industry, which Tesla falls in, has lost 14.4%. The key question now is: What could be the stock's future direction? Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision. Earnings Estimate Revisions Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock. Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements. Tesla is expected to post earnings of $0.86 per share for the current quarter, representing a year-over-year change of -19.6%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged. For the current fiscal year, the consensus earnings estimate of $3.96 points to a change of -2.7% from the prior year. Over the last 30 days, this estimate has remained unchanged. For the next fiscal year, the consensus earnings estimate of $5.09 indicates a change of +28.6% from what Tesla is expected to report a year ago. Over the past month, the estimate has remained unchanged. Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Tesla is rated Zacks Rank #3 (Hold). The chart below shows the evolution of the company's forward 12-month consensus EPS estimate: 12 Month EPS Projected Revenue Growth Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial. For Tesla, the consensus sales estimate for the current quarter of $23.58 billion indicates a year-over-year change of +25.7%. For the current and next fiscal years, $101.42 billion and $122.83 billion estimates indicate +24.5% and +21.1% changes, respectively. Last Reported Results and Surprise History Tesla reported revenues of $24.32 billion in the last reported quarter, representing a year-over-year change of +37.2%. EPS of $1.19 for the same period compares with $0.85 a year ago. Compared to the Zacks Consensus Estimate of $23.73 billion, the reported revenues represent a surprise of +2.48%. The EPS surprise was +9.17%. The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates two times over this period. Valuation Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects. Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is. The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued. Tesla is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade. Conclusion The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Tesla. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report To read this article on Zacks.com click here.

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Tesla Slashed Prices: Here Are the Most Affordable EVs

Tesla recently announced that it is slashing prices on four of its electric vehicle (EV) models for the second time this year. After its first round of price drops in January, Elon Musk stated that there was a surge of interest. According to Kelley Blue Book (KBB), Americans have paid above the manufacturer's suggested retail price (MSRP) for cars every month since July 2021.

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Tesla Slashed Prices: Here Are the Most Affordable EVs Tesla recently announced that it is slashing prices on four of its electric vehicle (EV) models for the second time this year. After its first round of price drops in January, Elon Musk stated that there was a surge of interest. According to Kelley Blue Book (KBB), Americans have paid above the manufacturer's suggested retail price (MSRP) for cars every month since July 2021.

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Again, Don't Sweat Tesla's EV Price Cuts. Here's Why.

After lowering the sticker price for several of the company's electric vehicles (EVs) -- including the highly affordable Model 3 -- back in January, earlier this week Tesla (NASDAQ: TSLA) pared back the prices of its more expensive EVs like the Model S and Model X. Depending on the vehicle in question, they're now between $5,000 and $10,000 less than they were just a few days ago. After all, the move could be a sign that demand for electric vehicles is softening, or that competition is making a dent in Tesla's market share. Its average production cost has been coming down for years now, and should continue to do so in a rather dramatic fashion.

Yahoo

Again, Don't Sweat Tesla's EV Price Cuts. Here's Why. After lowering the sticker price for several of the company's electric vehicles (EVs) -- including the highly affordable Model 3 -- back in January, earlier this week Tesla (NASDAQ: TSLA) pared back the prices of its more expensive EVs like the Model S and Model X. Depending on the vehicle in question, they're now between $5,000 and $10,000 less than they were just a few days ago. After all, the move could be a sign that demand for electric vehicles is softening, or that competition is making a dent in Tesla's market share. Its average production cost has been coming down for years now, and should continue to do so in a rather dramatic fashion.

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Moderna boosted by expansion plans, while SVB fallout continues to pressure banks and financials

Looking for stock market analysis and research with proves results? Zacks.com offers in-depth financial research with over 30years of proven results.

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This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. Copyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606 At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.17% per year. These returns cover a period from January 1, 1988 through May 15, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Visit Performance Disclosure for information about the performance numbers displayed above. Visit www.zacksdata.com to get our data and content for your mobile app or website. Real time prices by BATS. Delayed quotes by FIS. NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

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Elon Musk plans to build utopian community in Texas

Elon Musk is planning to build his own town on thousands of acres of farmland in Texas to create a utopian community where his employees can live and work .

Yahoo

Elon Musk plans to build utopian community in Texas Elon Musk is planning to build his own town on thousands of acres of farmland in Texas to create a utopian community where his employees can live and work . Over the past three years, entities linked to Mr Musk have purchased at least 3,500 acres of land near Austin, where there are production facilities for Tesla, SpaceX and tunnelling firm the Boring Company. Among the people who the Tesla chief executive has consulted to help him design the Musktopia are Kanye West and his ex-girlfriend, the Canadian singer Grimes. Local sources told the Wall Street Journal that the world’s richest person owns or controls up to 6,000 acres in the area. Mr Musk is said to have discussed incorporating the new town of Snailbrook – an apparent reference to the Boring Company’s mascot – in Bastrop County, south east of Austin. This would allow him to set some of his own regulations and offer more than 100 new homes to his employees in the area at “below-market” rents. The planned town is next to existing Boring Co and SpaceX facilities currently under construction, and the site features a pool, outdoor sports complex and a gym. The proposals also include a huge private residential compound for Mr Musk, according to the report. Some local residents have raised concerns about the plans, including how testing of the Boring Co’s tunnelling technology could affect groundwater and wells in the area. But Chap Ambrose, who lives near the site of the new town, expressed hope that locals could make Mr Musk “be a good member of the community and be a good neighbour and follow the law”. He added: “And that, to me, is worth the effort.” Under Texas law, a town needs at least 201 residents before it can apply to incorporate, then requires approval from a county judge. No application has yet been filed, the Wall Street Journal reported. The plans highlight efforts by Mr Musk, who has been grappling to restore calm to Twitter following a botched $44bn takeover last year, to gain greater control over how his businesses are run. The billionaire shifted Tesla and Boring Co’s headquarters, as well as his personal residence, from California to Texas in 2020. At the time, he cited concerns with rules and regulations in California, describing it as the state of “overregulation, overlitigation, overtaxation”. By contrast, Texas has looser land regulations and no corporate income tax or income or capital-gains taxes on individuals. Last year, Tesla opened a new 10m square feet Gigafactory complex in Austin, while SpaceX and Boring Co are both building new facilities in the state.

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Most Active Equity Options For Midday - Friday, March 10

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This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. Copyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606 At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.17% per year. These returns cover a period from January 1, 1988 through May 15, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Visit Performance Disclosure for information about the performance numbers displayed above. Visit www.zacksdata.com to get our data and content for your mobile app or website. Real time prices by BATS. Delayed quotes by FIS. NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

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TQQQ: Still Waiting And Watching

TQQQ is a leveraged ETF that has been on my watchlist. Read why I don't think the valuations for most of the largest stocks in the index are attractive today.

SeekingAlpha

TQQQ: Still Waiting And Watching Summary - TQQQ is a leveraged ETF that has been on my watchlist, but I don't think the valuations for most of the largest stocks in the index are attractive today. - I talk a bit about inflation and how I think commodities, energy, and real assets will outperform the tech sector. - Of the top 10, I only find Amazon and Broadcom attractive today, and I actually bought a put option on Tesla after its massive share price run to start 2023. While I typically avoid ETFs due to the fees, an ETF that has been on my watchlist for more than a year is the ProShares UltraPro QQQ ETF (NASDAQ:TQQQ). I have seen comments asking when I plan to buy, or if I bought any steep declines like the one last fall. I want to talk briefly about some of the characteristics of TQQQ (and other leveraged ETFs) before getting into the largest holdings. My plan for potentially buying a tiny position of TQQQ would probably have a one to six-month timeframe, basically a short- to medium-term strategy. I would probably be looking for another 20% decline (or more) in the major indices before buying TQQQ. If we see that, combined with a potential return of the Federal Reserve money gun, TQQQ could be an interesting short-term trade. TQQQ offers more speculative upside than QQQ on a smaller position size, and I would rather buy TQQQ than use leverage to buy QQQ. You pay the ETF management fees, but I think it's more attractive than borrowing to buy QQQ at current margin rates. Disclaimer The risks with TQQQ include beta slippage, but also short-term volatility that can be stomach-turning. For example, a big market decline can cut an investment in TQQQ by 20% or 30% in a week, so investors should go into an investment in TQQQ with eyes wide open to those risks. Investors that are unfamiliar with the potential risks might want to spend a couple of minutes to read what the SEC has to say about leveraged ETFs. ProShares UltraPro QQQ® (the "Fund") seeks daily investment results, before fees and expenses, that correspond to three times (3x) the return of the Nasdaq-100® Index (the "Index") for a single day, not for any other period. A "single day" is measured from the time the Fund calculates its net asset value ("NAV") to the time of the Fund's next NAV calculation. The return of the Fund for periods longer than a single day will be the result of its return for each day compounded over the period. The Fund's returns for periods longer than a single day will very likely differ in amount, and possibly even direction, from the Fund's stated multiple (3x) times the return of the Index for the same period. For periods longer than a single day, the Fund will lose money if the Index's performance is flat, and it is possible that the Fund will lose money even if the level of the Index rises. Longer holding periods, higher Index volatility, and greater leveraged exposure each exacerbate the impact of compounding on an investor's returns. During periods of higher Index volatility, the volatility of the Index may affect the Fund's return as much as or more than the return of the Index. The Fund presents different risks than other types of funds. The Fund uses leverage and is riskier than similarly benchmarked funds that do not use leverage. The Fund may not be suitable for all investors and should be used only by knowledgeable investors who understand the consequences of seeking daily leveraged (3x) investment results of the Index, including the impact of compounding on Fund performance. Investors in the Fund should actively manage and monitor their investments, as frequently as daily. An investor in the Fund could potentially lose the full value of their investment within a single day. Inflation & The Next Decade The biggest problem I see with TQQQ is the concentration in the large tech companies, which is also a problem for Invesco QQQ ETF (QQQ), which TQQQ follows. While that worked great for investors until late 2021, I think markets have begun to shift over the last couple of years. I'm of the opinion that commodities, energy, and companies with real assets will outperform over the next decade. I was watching for inflation starting in 2020 for several reasons, but I think the idea that inflation will come down to where it was over the last decade is wishful thinking. That doesn't mean I'm predicting hyperinflation or anything drastic like that, but I think we will see inflation stop and start for years, and I think inflation will probably be 5% or higher for years. That's just CPI, and if you want to go down the rabbit hole on inflation, you should check out shadowstats.com. Their website tracks inflation using old measurements, which shows how understated CPI is compared to actual inflation. I will do brief overviews of each company in the top 10, but on the whole, I don't think the largest parts of TQQQ represent attractive risk/reward prospects today. Apple & Microsoft Like any market cap weighted index or ETF, Apple (AAPL) and Microsoft (MSFT) will make up a large portion of the fund. While this is true for S&P 500 indices like (SPY) or (VOO), these two companies have an even larger weighting in TQQQ. Both have well over 10% weightings, but I'm not going to go into too much detail because I wrote articles on both in the last couple of months (here and here). Apple has a market cap of $2.4T, while Microsoft has a market cap of $1.9T, which will probably be a drag on forward returns. I don't find either attractive simply due to the valuations, which I talked about in those articles, and I have my doubts on how much either can grow from here. Another thing that I'm not a huge fan of is how both companies continue to buy back large amounts of stock regardless of the valuation. Amazon Amazon (AMZN) and its $972B market cap account for another 6% of the ETF. I have been bullish on Amazon because of AWS, but I have been wondering if it might be worth selling my small position in Amazon to buy something else. I still think the company is in a good position with their core businesses, especially AWS, but if the right opportunity comes along, I might part ways with my Amazon shares. Of the largest components of TQQQ, I think Amazon is still the most attractive today. The Ad Giants - Google & Meta These two are companies I'm not really interested in owning for several reasons, but I don't think the coming years are going to be a great environment for advertising businesses like Google (GOOG) (GOOGL) and Meta (META). Google has a P/E of 20.5x and a market cap of $1.2T, and accounts for about 7.5% of TQQQ. I'm curious to see how ChatGPT and other developments, including smaller video platform competitors for YouTube, impact Google's search engine monopoly, but I don't think the next decade will be as good for their business as the last one was. Meta has had a massive run since the beginning of November, and shares now trade at an earnings multiple of 21x. This puts the market cap at $480B and is 2.5% of TQQQ. I have my doubts about the Metaverse strategy, and I have been critical of the company's buybacks a couple of years ago as the CEO was dumping a huge number of shares. Like Google, I think the next decade will not be like the last one for Meta. Pie In The Sky Valuations - Nvidia & Tesla Both these companies have had massive runs to start 2023, and I think the valuation is so rich that I would honestly rather be short these two than own them. I actually bought a put option on Tesla (TSLA) when shares were around $205, so we will see if that pays off. The contract expires near the end of April with a strike of $150. I don't gamble much, but I watched the absurd move Tesla made to start the year, and it looked like short-covering and speculative buying instead of an actual fundamental improvement in the business. If shares keep dropping, I will probably look to exit the trade in the next couple of weeks. Nvidia (NVDA) also had its own massive move, including a large jump after earnings. They can talk all they want about AI in their earnings calls, but I don't see how investors owning Nvidia today generate attractive forward returns. I could be wrong, but unless Nvidia can grow rapidly through the next couple of cycles for the semiconductor industry, buying at the current valuation is not attractive in my opinion. Between the two companies, they account for about 6% of TQQQ, which means there is another sizable chunk of the ETF that find unattractive. Rounding Out The Top 10 - Pepsi & Broadcom Pepsi (PEP) is the only non-tech company in the top 10, with a 2.3% weight. While I don't think the downside is as big as some of the other stocks in the top 10, it's not a business I would pay over 25x earnings for, despite a 2.7% dividend. It's a slow-growth business, and I don't find their business mix to be all that attractive. It's basically just a mix of different junk foods and drinks, and I think people will start to pay more attention to their diet and health in the coming years. Broadcom (AVGO) would probably be my first choice to buy in the top 10 today, but it only accounts for just over 2% of the ETF. The company has a P/E of just over 16x and a dividend yield of 2.9%, and a history of being a very successful operator in the semiconductor industry. They operate in a different part of the industry than Nvidia, but the valuation is much more attractive. The market cap is $264B, so they might not grow as fast as the last decade, but Broadcom is a solid dividend growth stock. Conclusion I'm sure some commenters will talk about their trades in TQQQ (which I love to hear about, by the way), but I'm just not at a point where I'm comfortable buying the ETF today. TQQQ has a different risk profile than QQQ, including potential systemic issues and massive volatility with leveraged ETFs, but if your timing is good, you get a lot more bang for your buck buying the leveraged TQQQ ETF. I have said in the past that I'm looking for capitulation and panic, but I will still look elsewhere as long as the valuations for the largest stocks in the index stay rich. There are only a couple of stocks in the top 10 I find attractive today, but TQQQ could still have a huge run if the market takes off. While TQQQ is still on my watchlist, it is staying on the backburner while I focus on other sectors that I find more attractive today. This article was written by Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Also short TSLA via put options. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Comments (18) TQQQ is great macro play setup right now. Interest rate hikes will be done shortly. Pause on deck and with slowing growth and weak GDP on deck that means they will then start to lower rates maybe as early as the end of this year, or 2024 for sure. Will be fun to revisit articles and comments when the end of 2023 rolls around. The announcement of just a pause from Powell could send TQQQ up substantially in a very short time. 21.02 +0.14 (+0.67%) After hours: 05:09PM ESTManaged to buy right into this bear action yesterday @ 22.85. Made .41 cents selling calls. Been waiting months for the 'coming recession'. Not sure if it's happening now.I'll be selling more calls next week.

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U.S. opens safety probe into Tesla that struck student in North Carolina

U.S. safety authorities said on Friday they are investigating whether an advanced driver assistance system was in use when a Tesla struck a 17-year-old student that exited a school bus in North Carolina. The National Highway Traffic Safety Administration (NHTSA) said Friday it would open the special crash investigation into a incident in which 51-year-old driver of a 2022 Tesla Model Y in Halifax County on March 15 reportedly failed to stop for a school bus displaying warning lights and struck the student. The driver was charged in the incident, according to local media quoting North Carolina State Police.

Yahoo

U.S. opens safety probe into Tesla that struck student in North Carolina By David Shepardson WASHINGTON (Reuters) - U.S. safety authorities said on Friday they are investigating whether an advanced driver assistance system was in use when a Tesla struck a 17-year-old student that exited a school bus in North Carolina. The National Highway Traffic Safety Administration (NHTSA) said Friday it would open the special crash investigation into a incident in which 51-year-old driver of a 2022 Tesla Model Y in Halifax County on March 15 reportedly failed to stop for a school bus displaying warning lights and struck the student. The driver was charged in the incident, according to local media quoting North Carolina State Police. NHTSA said Tesla's advanced driver assistance systems were suspected of being in use in the North Carolina crash. State Police did not immediately respond to a request for comment. Since 2016, NHTSA has opened 40 Tesla special crash investigations where advanced driver assistance systems such as Autopilot were suspected of being used with 20 crash deaths reported. The agency has ruled out Tesla Autopilot use in three other special crash investigations. Autopilot enables cars to steer, accelerate and brake within their lanes without driver intervention but Tesla says the feature requires "active driver supervision and do not make the vehicle autonomous." Last month, NHTSA opened an investigation into a February fatal crash of a 2014 Tesla Model S involving a fire truck in Contra Costa County, California. The local fire department said a Tesla struck one of its fire trucks and the Tesla driver was pronounced dead at the scene. In June, NHTSA upgraded to an engineering analysis its defect probe into 830,000 Tesla vehicles with driver assistance system Autopilot that involves crashes with parked emergency vehicles including fire trucks. That step is necessary before the agency could demand a recall. NHTSA is reviewing whether Tesla vehicles adequately ensure drivers are paying attention. Previously, the agency said evidence suggested drivers in many crashes under review had complied with Tesla's alert strategy that seeks to compel driver attention, raising questions about its effectiveness. Tesla did not respond to a request for comment. (Reporting by David Shepardson; Editing by David Gregorio)

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Tesla Cuts Prices Again for its More Expensive Model S/X

Tesla Inc. (TSLA) took markets by surprise with another batch of price cuts for its more expensive models. Tesla also cut the price of Model 3 and Model Y vehicles again with a $1,000 and $2,000 price drop, respectively. Tesla’s move comes after the company reported record deliveries in the first quarter of about 423,000 vehicles.

Yahoo

Tesla Cuts Prices Again for its More Expensive Model S/X Tesla Inc. (TSLA) took markets by surprise with another batch of price cuts for its more expensive models. Tesla also cut the price of Model 3 and Model Y vehicles again with a $1,000 and $2,000 price drop, respectively. Tesla’s move comes after the company reported record deliveries in the first quarter of about 423,000 vehicles.

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Unlocking Human Creativity with AI: How Artificial Intelligence Will Transform the Creative Process

The power of AI was on full display at Austin’s South-by-Southwest festival- from robotics, to transportation, and even healthcare, but what about art? “Ultimately, what I think it does is allow more people to be artists,” explains Fiverr’s (FVRR) Head of Audio and Music, Adam Fine. “What's going to be really interesting now is to see how people tap into this tool and unlock more to create more impressive things, the baseline will continue to increase. and we'll see that threshold for great art, great code, great writing, be improved.” “We're gonna see how people, freelancers, professionals, experts, continue to use this tool. Ultimately humans will be the winners and we'll see humans continue to get more creative and more productive…AI can be used in music to enhance production, consumption, many different things. and I think the possibilities are endless,” Fine says. So endless, that in just a few months AI generated artworks have spread across the internet like wildfire and developers made a boatload of money for what seemed like an original idea. “Especially in the art space, we have lawsuits that have been taking place around representation and compensation. Artists are often having their art put into the data set to train those models without any notification and without any compensation, notice, or attribution,” Signal and Cipher CEO, Ian Beacraft told us. “People have put out their life's work onto the internet, and now these models have come along and scrapes the whole internet and said ‘we're just training it on everything.”’ Theft of intellectual property is hardly a modern problem, but leave it to the free market to come up with a modern solution. Image licensing companies like Getty (GETY) and Shutterstock (SSTK) are diving head-first onto the AI wave, using their massive image databases to build AI content generators and sharing the profits with contributing artists. “The way that people tell stories is continuing to evolve. At one point it was images, then it was video,and now it's music. Now it may be generated content,” says Shutterstock Chief Product Officer Meghan Schoen. So what does the future of creativity look like? Schoen says, “the way I describe it is you're sitting in a pitch meeting or trying to bring an idea to life and you may have a vision in your head of astronauts eating breakfast on Mars. In the past, how do you actually describe that to a roomful of creatives? To help them understand and conceptualize what you're talking about? Now, they can just describe that, get a visual, and now they're not starting from a blank piece of paper… and they can build stories on top of that.”

Yahoo

Unlocking human creativity with AI: how artificial intelligence will transform the creative process The power of AI was on full display at Austin’s South-by-Southwest festival- from robotics, to transportation, and even healthcare, but what about art? “Ultimately, what I think it does is allow more people to be artists,” explains Fiverr’s (FVRR) Head of Audio and Music, Adam Fine. “What's going to be really interesting now is to see how people tap into this tool and unlock more to create more impressive things, the baseline will continue to increase. and we'll see that threshold for great art, great code, great writing, be improved.” “We're gonna see how people, freelancers, professionals, experts, continue to use this tool. Ultimately humans will be the winners and we'll see humans continue to get more creative and more productive…AI can be used in music to enhance production, consumption, many different things. and I think the possibilities are endless,” Fine says. So endless, that in just a few months AI generated artworks have spread across the internet like wildfire and developers made a boatload of money for what seemed like an original idea. “Especially in the art space, we have lawsuits that have been taking place around representation and compensation. Artists are often having their art put into the data set to train those models without any notification and without any compensation, notice, or attribution,” Signal and Cipher CEO, Ian Beacraft told us. “People have put out their life's work onto the internet, and now these models have come along and scrapes the whole internet and said ‘we're just training it on everything.”’ Theft of intellectual property is hardly a modern problem, but leave it to the free market to come up with a modern solution. Image licensing companies like Getty (GETY) and Shutterstock (SSTK) are diving head-first onto the AI wave, using their massive image databases to build AI content generators and sharing the profits with contributing artists. “The way that people tell stories is continuing to evolve. At one point it was images, then it was video,and now it's music. Now it may be generated content,” says Shutterstock Chief Product Officer Meghan Schoen. So what does the future of creativity look like? Schoen says, “the way I describe it is you're sitting in a pitch meeting or trying to bring an idea to life and you may have a vision in your head of astronauts eating breakfast on Mars. In the past, how do you actually describe that to a roomful of creatives? To help them understand and conceptualize what you're talking about? Now, they can just describe that, get a visual, and now they're not starting from a blank piece of paper… and they can build stories on top of that.” Video Transcript BRAD SMITH: The power of artificial intelligence was on full display in Austin, Texas, at South by Southwest, from robotics to transportation, and even health care. But what about art, you ask. ADAM FINE: Ultimately, what I think it does is allow more people to be artists. BRAD SMITH: Adam Fine, the head of audio and music at Fiverr, says AI will push the boundaries of artistic endeavors-- ADAM FINE: [BEATBOXING] I don't know. There we go. BRAD SMITH: --like music, writing, and design, creating new avenues for what artists can achieve. ADAM FINE: We're going to see how people-- freelancers, professionals, experts-- continue to use this tool. And ultimately, humans will be the winners. And we'll see humans continue to get more creative and more productive. BRAD SMITH: As a musician myself, I was curious about what all of this might mean for the next generation of music. When we think, as musicians, what the next kind of iterative phase of music is with AI layered on top of it, I mean, what does that even look like to you? ADAM FINE: I think the possibilities are endless. BRAD SMITH: So endless that in just a few months, AI-generated artworks have spread across the internet like wildfire. And developers made a boatload of money-- [CASH REGISTER DINGS] --for what seemed like an original idea. IAN BEACRAFT: Especially in the art space, we have lawsuits that have been taking place around representation and compensation. So artists are often having their art put into the data set to train those models without any notification and without any compensation or notice and-- or attribution. People have put out their life's work onto the internet. And now these models have come along and scraped the whole internet and said, yep, we're just training it on everything. BRAD SMITH: Theft of intellectual property is hardly a modern problem. But leave it to the free market to come up with a modern solution. Image licensing companies like Getty and Shutterstock are diving headfirst into the AI wave, using their massive image databases to build AI content generators and sharing the profits with contributing artists. MEGHAN SCHOEN: The way that people tell stories has continued to evolve always, whether it was at one point images, then it was video. Now it's music. Now it may be generative content. BRAD SMITH: So what does the future of creativity look like? MEGHAN SCHOEN: The way I describe it is, you're sitting in a pitch meeting. You're trying to bring an idea to life. And you may have a vision in your head of astronauts eating breakfast on Mars. In the past, how do you actually describe that to a room full of creatives to help them understand and conceptualize what you're talking about? Now they can just describe that, get a visual. And now they're not starting from a blank piece of paper, they're starting from something that humans naturally can visually relate to. And they can build stories on top of that.

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The bombshell report that Tesla employees had access to cars’ video recordings is a reminder of a risk we all face

A new report from Reuters reveals that Tesla employees have been privately sharing the videos that customers’ cars record.

Yahoo

The bombshell report that Tesla employees had access to cars’ video recordings is a reminder of a risk we all face Hi folks, and happy Friday! Kylie Robison from the tech team, filling in again. Yesterday, Reuters released a damning report on automotive maker Tesla that revealed employees at the company have had access to, and shared with each other, the videos that customers’ cars record. If you live in a big city, more likely than not you’ve passed a Tesla and triggered its “sentry mode,” which throws an Eye of Sauron on the console screen and records you for added security. According to Reuters, Tesla employees had unfettered access to those videos of you—and more. The videos ranged from the graphic, like a clip of a child getting hit by the car, which one employee said spread around employee’s private group chats “like wildfire,” to the mundane, like clips of dogs and funny street signs that Tesla workers made into memes. In some cases, the reason for these very 1984-sounding recordings relates to Tesla’s autonomous driving capabilities—in order to condition the car to, you know, not hit people, Tesla needs to train the machine to recognize objects like cars, signs, construction vehicles, garage doors, and again, people, by having its staffers label the objects manually. Some employees told Reuters they had no ethical dilemma sharing these videos since Tesla owners had given their consent. I use Loom and Zoom (rhyme not intended) to record videos of myself for work, and I’ve accepted the terms of those products. Would I be surprised to find people sharing videos of me checking my teeth in the camera because it was supposedly in the fine print when I signed up? Yes, indeed I would be surprised and more than a little upset. And I can't imagine that anyone thinks they consented to be turned into a meme! No matter how you slice it, it’s not ethical to share video clips of individuals who are probably unaware of being recorded, or if they are aware, would not expect the recordings to be used in a manner beyond what they thought they agreed to in order to use the product. The Tesla report is a reminder of how exposed we all are to such misbehavior these days given the pervasiveness of video and audio recording devices that surround us, from our phones and smart speakers to some of the fancy new cars we drive. According to an employee who spoke to Reuters, the distribution of sensitive and personal content could lead to the intervention of the U.S. Federal Trade Commission, which is responsible for upholding federal laws related to consumer privacy. It’ll be interesting to see how Tesla addresses this report, if at all. One thing’s for sure — I’m going to be extra careful about checking the webcam cover on my laptop. Want to send thoughts or suggestions to Data Sheet? Drop a line here. Kylie Robison Data Sheet’s daily news section was written and curated by Andrea Guzman. This story was originally featured on Fortune.com More from Fortune: 5 side hustles where you may earn over $20,000 per year—all while working from home The young creators of a "TED meets Burning Man" conference bought a $40-million mountain. Years later, it's an unbuilt mess This is how much money you need to earn annually to comfortably buy a $600,000 home

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Why Tesla Stock Fell 10% This Week

Shares of Tesla (NASDAQ: TSLA) fell by as much as 13.4% this week, according to data from S&P Global Market Intelligence. Shares of Tesla were down 10.8% this week and are down 47% over the last 12 months. In the first quarter of 2023, Tesla produced about 441,000 EVs around the globe and delivered 423,000 to customers.

Yahoo

Why Tesla Stock Fell 10% This Week Shares of Tesla (NASDAQ: TSLA) fell by as much as 13.4% this week, according to data from S&P Global Market Intelligence. Shares of Tesla were down 10.8% this week and are down 47% over the last 12 months. In the first quarter of 2023, Tesla produced about 441,000 EVs around the globe and delivered 423,000 to customers.

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Why Nio Stock Sank Over 14% This Week

Just when it looked like Nio (NYSE: NIO) shares were on an upswing from multiyear lows, the stock of the Chinese electric-vehicle (EV) manufacturer took another plunge this week. Nio's American depositary shares sank by 14.3% in the shortened trading week, according to data provided by S&P Global Market Intelligence. Nio faced some of its own headwinds, though, which helps explain its outsize move lower.

Yahoo

Why Nio Stock Sank Over 14% This Week Just when it looked like Nio (NYSE: NIO) shares were on an upswing from multiyear lows, the stock of the Chinese electric-vehicle (EV) manufacturer took another plunge this week. Nio's American depositary shares sank by 14.3% in the shortened trading week, according to data provided by S&P Global Market Intelligence. Nio faced some of its own headwinds, though, which helps explain its outsize move lower.

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New Car Market: Prices Are About To Plummet Due to Oversupply

The U.S. car market has shifted into lower gear in only a matter of months. After average car prices hit record highs as recently as last summer, some analysts now predict that an oversupply of...

Yahoo

New Car Market: Prices Are About To Plummet Due to Oversupply The U.S. car market has shifted into lower gear in only a matter of months. After average car prices hit record highs as recently as last summer, some analysts now predict that an oversupply of vehicles will lead to a price war that sends prices plummeting. More Bang for Your Buck: These 20 Cars Will Last You Twice as Long as the Average Vehicle Find: How To Build Your Savings From Scratch A recent report from UBS estimates that global car production will exceed sales by 6% this year, leaving an excess of 5 million vehicles that will require price cuts to get sold off of lots, Yahoo Finance reported. Although those price cuts might not happen until the latter half of 2023, automakers are preparing for a price war, and some electric vehicle makers are already slashing prices. “Given the bullish production schedules, we see high risk of overproduction and growing pricing pressure as a result,” UBS said in a note to clients. “The price war has already started unfolding in the EV space, and we expect it to spread into the combustion engine segment [during the second half of 2023].” Makers of family cars are most likely to suffer from price cuts, the analysts said, while luxury carmakers are expected to hold up better. EV makers might take a major hit due to the combination of soaring energy costs and high prices that put many consumers out of reach, Yahoo Finance noted. In January, Elon Musk’s Tesla slashed the price of its cars by up to £8,000 in the U.K. Some of its cheaper models are now around the same price range as mass market brands such as Kia. More: 9 Red Flags To Watch Out For When Buying a Used Car Ford Motor Company and Lucid are among the other car manufacturers that have reacted to Tesla’s cuts by lowering their own EV prices, according to the Proactive Investors website. Meanwhile, there is already evidence that car prices across all segments have softened. The latest data from Cox Automotive, released on Friday, April 7, showed that wholesale used-vehicle prices in March fell 2.4% from a year earlier, although they did tick up 1.5% from the previous month. A March 23 report from Kelley Blue Book found that new vehicle prices dropped for three straight months, and that “it’s starting to look like a sustained trend.” Even so, prices remain “historically high.” More From GOBankingRates This article originally appeared on GOBankingRates.com: New Car Market: Prices Are About To Plummet Due to Oversupply

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Toyota Turns Around EV Strategy Under New CEO

The company has famously lagged its counterparts in outlining an aggressive move to electric vehicles in the past, but now, new CEO Koji Sato is making his move. The auto company outlined its new strategy in Tokyo on Friday, with the company announcing the launch of 10 new electric vehicles globally by 2026. The vehicles will have an annual production rate of 1.5 million in three years.

Yahoo

Toyota Turns Around EV Strategy Under New CEO The company has famously lagged its counterparts in outlining an aggressive move to electric vehicles in the past, but now, new CEO Koji Sato is making his move. The auto company outlined its new strategy in Tokyo on Friday, with the company announcing the launch of 10 new electric vehicles globally by 2026. The vehicles will have an annual production rate of 1.5 million in three years.

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Are you financially fit?

Take a quiz and learn more about your money, retirement planning and investing.

MarketWatch

One week into Financial Literacy Month, the Personal Finance team at MarketWatch has prepared an abundance of articles covering various aspects of managing money. It begins with this financial literacy quiz. Chances are some of the questions will be easy for you — but you’ll probably learn something, too, and sharing the quiz with family members might spur useful conversations. There’s even a bonus question! Find more articles on the Financial Fitness page. And here’s a lesson about life and business that Apple founder Steve Jobs shared with the iPhone maker’s current CEO, Tim Cook. How to talk about money Relationship problems often spring from money problems — or from poor communication about financial matters, regardless of wealth level. Brian Page, founder of Modern Husbands, shares tips and tools to help couples communicate about money and improve their support for each other. Quentin Fottrell has advice for a man who is worried his sons may not make the best decisions while saving up money to buy homes. Here’s how he can maintain their trust while sharing life lessons about money. How to shop for a home — and for a mortgage — in a difficult market Aarthi Swaminathan interviews a home buyer with a fascinating career, which is actually one of several challenges he faced in getting a mortgage. Here’s her advice on how to shop in the current market and pay as little interest as possible. And here’s how much income you need to afford a $500,000 home. On a related note, don’t assume you know everything about credit reporting, especially if you are looking to borrow money to purchase a home or vehicle. Margaret Poe, who heads consumer education at TransUnion, shares the most common mistake people make when it comes to their credit score. Do you want to retire early? Be careful — you might not be ready to retire as early as you expected to be, and your financial adviser might be afraid to give you the bad news, as Morey Stettner explains. More on retirement planning: - What’s the magic number for retirement savings? Americans say it’s more than $1 million, but most will fall short of that goal. - The best way to boost retirement savings? Keep it simple — and automatic. Where will you live when you retire? MarketWatch’s Retirement Tool gives you the power to make detailed custom searches for possible places to live. This week, Jessica Hall shares three possible locations to help a reader who is looking to move to a remote location similar to “a warm, sunny version of Alaska” on a low budget. What is going on with bank interest rates? It pays to shop around. One local bank is paying 0.02% interest on savings accounts, while some large banks are offering 3.75% or more if you use an online savings account. Joy Wiltermuth explains why interest rates on deposits haven’t been keeping up with the federal-funds rate, for which the Federal Reserve has set a target range of 4.75% to 5%. People who are tired of being paid next to nothing on their bank deposits have been moving money to money-market mutual funds. These funds have stable share prices of a dollar and pay higher interest rates than most bank savings accounts. Joseph Adinolfi explains how this massive movement of money could hurt the U.S. economy. There has also been an increasing flow of money into exchange-traded funds that hold bonds, as Christine Idzelis reports in this week’s ETF Wrap. And what’s going on with the banks? Bank earnings season kicks off on April 14, when JPMorgan Chase JPM, Here’s a sampling of Steve Gelsi’s ongoing coverage of the aftermath of the deposit flight that led to the failures of Silicon Valley Bank and Signature Bank of New York, as well as to concerns about other banks’ liquidity: - KBW shuffles bank-stock ratings as stock-price beatdown upends sector ahead of earnings - Schwab reports $53 billion influx of new client money, second-highest March in its history - JPMorgan Chase CEO Jamie Dimon says looser rules did not cause recent bank failures - Silicon Valley Bank CEO’s stock sales and chief risk officer’s exit may trigger closer look by Feds: SEC veteran - Morgan Stanley CEO calls for ‘small sandboxes’ to contain financial storms - Banks on the line for deposit flows and margin pressure in Q1 updates as they reel from crisis Mark Hulbert: Silicon Valley Bank’s failure isn’t the end of the banking crisis. History says it just might be the start. For bearish and bullish investors The bear market may not be over for stocks, despite this year’s 7.4% return for the S&P 500. Here are four reasons investors may be in for more pain over the short term. For more of the gloomy view: A ‘credit crunch’ is already under way, economist warns Then again, one investor’s fear is another investor’s opportunity. With so many professional money managers advising a low allocation to stocks, analysts at Bank of America see clear signal that it is time to buy. How about some stock screens? - 15 oil and gas stocks expected to be backed by ample cash flow through 2024 - 14 dividend stocks yielding 4% or more that are expected to increase payouts in 2023 and 2024 - 10 value stocks expected to act like growth stocks through 2024 Auto sales heat up — for a surprising reason Tesla Inc.’s TSLA, Related: U.S. car sales got help from an unexpected corner of the market Want more from MarketWatch? Sign up for this and other newsletters to get the latest news, personal finance and investing advice.

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Tesla is cutting prices for the fifth time this year

Competition in the EV space is heating up fast.

Yahoo

Tesla is cutting prices for the fifth time this year Teslas are getting cheaper. Again. For the fifth time since January, the automaker has lowered prices on select models, as it looks to entice fence-sitters and fend off competition from a growing number of automakers. Tesla has lowered the price of the Model S and Model X by $5,000 each, bringing the cost to $84,990 and $94,990, respectively. The Model 3 sedan, meanwhile, as well as the Model Y SUV saw reductions of $1,000 and $2,000, bringing them to base prices of $41,990 and $49,990. The cuts come roughly a month after the company cut the prices of its Model S luxury sedan and its Model X SUV. Tesla CEO Elon Musk, at an investor presentation earlier this year, said the price reductions have had a “big effect on demand, very big.” Tesla is reducing retail prices as it says stricter U.S. standards will reduce the $7,500 tax credit that’s currently available for the Model 3. At the same time, several automakers are becoming more price competitive as consumer interest in electronic vehicles continues to grow. Ford, for instance, has lowered the price of the Mustang Mach-E by an average of $4,500 per car. Those price cuts could stimulate consumer interest, but they’ll also likely cut into profits for Tesla (and other automakers), which has some Tesla shareholders grumbling about the move. Existing customers aren’t real happy either, as those who bought models just days before previous Tesla price cuts were announced say they were not offered any sort of compensation or make-good. This story was originally featured on Fortune.com More from Fortune: 5 side hustles where you may earn over $20,000 per year—all while working from home The young creators of a "TED meets Burning Man" conference bought a $40-million mountain. Years later, it's an unbuilt mess This is how much money you need to earn annually to comfortably buy a $600,000 home

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AMC Surges On Court Ruling Against Faster APE Conversion; Are Meme Stocks A Buy Now?

Meme stock AMC rose after a Delaware court ruled against allowing the movie theatre company to convert its preferred equity APE units to common shares sooner. AMC shares surged on Thursday while APE shares fell. AMC said it had entered into an agreement with some investors last week to speed up the lifting of a status quo court order.

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Bed Bath & Beyond Is Back From The Dead At Overstock.com. Are Meme Stocks A Buy Now? The bankrupt meme stock is also selling its stores to three retailers. Meme stock GameStop broke out of a cup base with a buy point of 27 on Tuesday. On June 13, meme investor and GameStop's new chairman Ryan Cohen purchased 443,842 shares of GME stock through RC Ventures for a total of $10 million.

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Tesla Has a New Problem -- and It's Much Bigger Than It Appears

A few years ago, Tesla was the sweetheart of the EV world, outselling cars by makers that had been in the market for decades before it existed. Now, a new filing with the National Highway Traffic Safety Administration shows that Tesla is recalling 422 Model 3 vehicles from 2018-2019 in the U.S. due to an issue with front suspension lateral link fasteners that may loosen. Tesla says that since January 2019 it has 25 warranty claims and two field reports that are related, but no crashes or injured drivers have been reported.

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Tesla Has a New Problem -- and It's Much Bigger Than It Appears A few years ago, Tesla was the sweetheart of the EV world, outselling cars by makers that had been in the market for decades before it existed. Now, a new filing with the National Highway Traffic Safety Administration shows that Tesla is recalling 422 Model 3 vehicles from 2018-2019 in the U.S. due to an issue with front suspension lateral link fasteners that may loosen. Tesla says that since January 2019 it has 25 warranty claims and two field reports that are related, but no crashes or injured drivers have been reported.

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Tesla recalls 422 U.S. vehicles over suspension part

Tesla is recalling just over 400 Model 3 vehicles in the United States because front suspension lateral link fasteners may loosen.

Reuters

Tesla recalls 422 U.S. vehicles over suspension part - Companies WASHINGTON, April 7 (Reuters) - Tesla (TSLA.O) is recalling just over 400 Model 3 vehicles in the United States because front suspension lateral link fasteners may loosen. Tesla will tighten or replace the lateral link fasteners to address the issue that could allow the lateral link to separate from the sub-frame on the recalled 2018 and 2019 model year vehicles. The National Highway Traffic Safety Administration said a lateral link separation could shift the wheel alignment, causing instability and increasing the risk of a crash. Tesla said it has 25 warranty claims and 2 field reports since January 2019 which are related or could relate to the recall but no reports of crashes or injuries. The new vehicle call back is an expansion of a 2021 recall for the same issue that covered nearly 2,800 Model 3 from the 2019-2021 model years and 2020-2021 Tesla Model Y vehicles. That recall occurred after the Tesla said it escalated 39 service repairs in which one or both front suspension lateral link fasteners were found loose or missing. Our Standards: The Thomson Reuters Trust Principles.

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UPDATE 1-Tesla recalls 422 U.S. vehicles over suspension part

Tesla is recalling just over 400 Model 3 vehicles in the United States because front suspension lateral link fasteners may loosen. Tesla will tighten or replace the lateral link fasteners to address the issue that could allow the lateral link to separate from the sub-frame on the recalled 2018 and 2019 model year vehicles. The National Highway Traffic Safety Administration said a lateral link separation could shift the wheel alignment, causing instability and increasing the risk of a crash.

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UPDATE 1-Tesla recalls 422 U.S. vehicles over suspension part (Adds prior recall, background) By David Shepardson WASHINGTON, April 7 (Reuters) - Tesla is recalling just over 400 Model 3 vehicles in the United States because front suspension lateral link fasteners may loosen. Tesla will tighten or replace the lateral link fasteners to address the issue that could allow the lateral link to separate from the sub-frame on the recalled 2018 and 2019 model year vehicles. The National Highway Traffic Safety Administration said a lateral link separation could shift the wheel alignment, causing instability and increasing the risk of a crash. Tesla said it has 25 warranty claims and 2 field reports since January 2019 which are related or could relate to the recall but no reports of crashes or injuries. The new vehicle call back is an expansion of a 2021 recall for the same issue that covered nearly 2,800 Model 3 from the 2019-2021 model years and 2020-2021 Tesla Model Y vehicles. That recall occurred after the Tesla said it escalated 39 service repairs in which one or both front suspension lateral link fasteners were found loose or missing. (Reporting by David Shepardson; editing by Jason Neely and Chizu Nomiyama)

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Why Canoo, Plug Power, and Enphase Energy Plummeted This Week

Between some concerning economic data and a poorly received performance update from Tesla, it was a bad week for EV and energy tech stocks.

Yahoo

Why Canoo, Plug Power, and Enphase Energy Plummeted This Week Between some concerning economic data and a poorly received performance update from Tesla, it was a bad week for EV and energy tech stocks. Between some concerning economic data and a poorly received performance update from Tesla, it was a bad week for EV and energy tech stocks.

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Tesla cuts prices on all models, 3rd cut this year

Tesla cut prices on its entire U.S. electric vehicle model lineup for the third time this year in an apparent effort to lure more buyers amid rising interest rates. The largest of the cuts that appeared Friday on Tesla's website were $5,000 per vehicle for the company's slower-selling more expensive models, the S large sedan and the X big SUV. The moves come as Tesla's first-quarter sales grew 36% but fell short of analysts' expectations.

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Tesla cuts prices on all models, 3rd cut this year DETROIT (AP) — Tesla cut prices on its entire U.S. electric vehicle model lineup for the third time this year in an apparent effort to lure more buyers amid rising interest rates. The largest of the cuts that appeared Friday on Tesla's website were $5,000 per vehicle for the company's slower-selling more expensive models, the S large sedan and the X big SUV. The company lopped $2,000 off the price of the Y small SUV, its most popular model, and added a lower-cost dual-motor version priced at $49,990. The 3 small sedan saw a $1,000 price cut. The moves come as Tesla's first-quarter sales grew 36% but fell short of analysts' expectations. The company said Sunday that it delivered a quarterly record of 422,875 vehicles worldwide from January to March, up from just over 310,000 a year ago. But the increase fell short of analyst estimates of 432,000 for the quarter, according to FactSet. A message was left Friday seeking comment from the Austin, Texas-based Tesla on why the prices were cut. Guidehouse Research e-Mobility Analyst Sam Abuelsamid said the cuts are a sign of slowing demand for Tesla. The company, he said, needs to sell more vehicles to keep its factories running at full capacity to protect high profit margins. “Overhead of underutilized plant eats up margin extremely quickly,” he said. Tesla has added a huge plant near Austin to its U.S. factory footprint, in addition to its original plant in Fremont, California. The company also has built new plants in Shanghai and near Berlin. Other analysts have speculated that Tesla was cutting prices to take advantage of its profit margin per vehicle, which is larger than most automakers. The move could increase market share and put pressure on startups and legacy automakers now rolling out EVs. On Twitter Friday, Tesla CEO Elon Musk wrote that demand is limited by affordability. “There is plenty of demand for our products, but if the price is more money than people have, that demand is irrelevant,” he wrote. The biggest of Friday's cuts came on Tesla's aging S and X, which saw sales drop 38% from January through March. The Model S two-motor price dropped 5.6% to $84,990, while the S tri-motor Plaid was trimmed 4% to $104,990. The company cut 5% from the X two-motor price, to $94,990, while the X Plaid saw a 4.6% drop to $104,990. Tesla added a dual-motor Model Y for under $50,000 and cut prices on the Y Long range by 3.7% to $52,990 and by 3.4% on the Y Performance, to $56,990. The Model 3 rear-wheel-drive saw a 2.3% price cut to $41,990, with the 3 Performance version falling 1.9% to $52,990. The most recent cuts came on Good Friday when the markets are closed. Tesla cut prices in early March on the S and X, by $5,000 to as much as $10,000. In January it slashed the sticker numbers on several versions of its EVs, making some eligible for a U.S. $7,500 federal tax credit. Some versions Model Y saw price trims of nearly 20%, and the base price of the Model 3 small car was dropped by 6%. The price cuts appeared to have raised demand despite increasing interest rates designed to slow the economy and curb inflation. Since the U.S. Federal Reserve began raising rates in March of last year, the average new vehicle loan has jumped from 4.5% to 7%, according to Edmunds data. Analysts are watching to see if the price drops cut into the company’s profit and margins per vehicle. Tesla says it will release first-quarter earnings after the markets close on April 19.

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How Many Vehicles Will Tesla Deliver This Year?

With Tesla's (NASDAQ: TSLA) first-quarter update on vehicle deliveries out, investors now have some data to chew on to inform their estimates for the full year. Whatever vehicle delivery figures Tesla achieves this year, the two biggest determinants will be demand trends and the company's output at its new factories in Berlin and Texas. Tesla's vehicle production is off to a good start in 2023.

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How Many Vehicles Will Tesla Deliver This Year? With Tesla's (NASDAQ: TSLA) first-quarter update on vehicle deliveries out, investors now have some data to chew on to inform their estimates for the full year. Whatever vehicle delivery figures Tesla achieves this year, the two biggest determinants will be demand trends and the company's output at its new factories in Berlin and Texas. Tesla's vehicle production is off to a good start in 2023.

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Dow Jones Futures Fall: Jobs Report Looms, Tesla Cuts U.S. EV Prices; U.S. Stock Market Closed

The March jobs report looms with U.S. markets closed. Tesla cut U.S. EV prices again after TSLA stock tumbled this week.

Yahoo

Dow Jones Futures: Market Rally Responds To Jobs Report, Tesla Price Cuts The March jobs report was in line. Tesla cut U.S. EV prices after TSLA stock tumbled this week. U.S. markets are closed. The March jobs report was in line. Tesla cut U.S. EV prices after TSLA stock tumbled this week. U.S. markets are closed.

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Tesla (NASDAQ:TSLA) Turns to Iron-Based Cells to Reduce Costs

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Tesla Slashes U.S. Vehicle Prices Again After Q1 Deliveries Miss

Tesla cuts U.S. prices on all its vehicles yet again. TSLA shed nearly 11% this week after record Q1 deliveries missed Wall Street views.

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Tesla Slashes U.S. Vehicle Prices Again After Q1 Deliveries Miss Tesla cuts U.S. prices on all its vehicles yet again. TSLA shed nearly 11% this week after record Q1 deliveries missed Wall Street views. Tesla cuts U.S. prices on all its vehicles yet again. TSLA shed nearly 11% this week after record Q1 deliveries missed Wall Street views.

TSLA