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1 Wall Street Analyst Thinks Tesla Stock Is Going to $120. Is It a Sell?
Eric Volkman, The Motley Fool
Tue, April 16, 2024 at 6:07 AM MDT·2 min read
https://finance.yahoo.com/m/ff68e1fa-7e16-39a8-83c0-03a564e678bc/1-wall-street-analyst-thinks.html
There's hardly a better way for an analyst to signal his or her bearishness on a stock than to cut their price target more than once. This happened recently with the beleaguered electric vehicle (EV) pace-setter Tesla (NASDAQ: TSLA).
In mid-April, a prognosticator from a major U.S. bank got out his scissors for the second time in less than one month. Uncomfortably, this occurred barely over one week out from the company's scheduled first-quarter earnings release.
A double cut for Tesla
That analyst was Colin Langan from the investment wing of one of the "top four" lenders, Wells Fargo. Langan recently made another downward adjustment to his Tesla price target; it's now $120 per share, down from the preceding $125 per share. That, in turn, was lowered drastically by Langan from $200 in mid-March when he downgraded his recommendation to underweight (read: sell) from equal weight (hold).
At the new $120 price target, it nearly goes without saying, Tesla still rates an underweight in the analyst's view. The target implies a nearly 26% downside from the current price over the next 12 months.
"While we expect a first-quarter miss, expectations are low after weak deliveries," Langan wrote in his latest note on the EV company. Referring to Tesla's much-hyped -- yet inaccurately named -- Full Self Driving (FSD) assistance system, the pundit added that the company's "poor fundamentals may be overshadowed on the first quarter call by FSD 'razzle-dazzle.' "
The bears are scratching at the door
This is one of several bearish pundits' takes on Tesla in the run-up to those quarterly results. As the Wells Fargo analyst points out, many do not anticipate great things from the company's report.
Even given that, EV sales growth is lackluster and Tesla seems far from done with its lengthening streak of price reductions to key models. This feels like a period of adjustment for Tesla, and one that will produce some pain for the company and its investors. A stock sell-off might just be in order for holders of the stock.
Earnings 4-15-24
NFLX 4-18 A
RTX 4-23 B
TSLA 4-23 A
T 4-24 B
GOOGL 4-25 A
INTC 4-25 A
RKT 4-25 A
ROKU 4-25 A
ROP 4-26 B
RIG 4-29 A
MMM 4-30 B
PYPL 4-30 B
QCOM 5-1 A
AAPL 5-2 A
SQ 5-2 A
PLTR 5-6 A
DIS 5-7 B
TOST 5-7 A
UPST 5-7 A
PERI 5-8 B
RBLX 5-9 B
NVDA 5-22 A
________________________________________________________
ABNB
AI
AMZN
BP
DOCU
FDX
FIZZ
IRBT
MESA
NKE
PATH
PD
PLUG
RNG
SBUX
SHOP
SMCI
TER
TTD
TWLO
ZM
Ducommun Incorporated Announces Award of Major Defense Orders for Raytheon Radar Systems
April 12, 2024 06:15 ET
Source: Ducommun Incorporated
SANTA ANA, Calif., April 12, 2024 (GLOBE NEWSWIRE) -- Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”), a global supplier of innovative electronic and structural solutions for the aerospace & defense industry, is proud to announce two major awards totaling over $50M in revenue for the Raytheon SPY-6 family of radar systems. These two awards represent a $25M follow on order for one circuit card assembly already in production, along with another $25M order for one circuit card assembly that will be brand new production for DCO. All cards will be produced at Ducommun’s world-class engineering and manufacturing performance center for circuit cards assemblies in Tulsa, Oklahoma.
“We are thrilled to have earned the trust of Raytheon on this most critical Navy radar system as we continue to build out this part of our defense business by supporting off-loading from our strategic defense customers. This is a very important initiative for us and one I have been talking about with shareholders on our quarterly earning calls. We are also now moving more and more into radar systems for defense, which complements our already significant circuit card assemblies’ franchise for missiles, such as MIR and the family of Standard Missiles” said Stephen G. Oswald, chairman, president, and chief executive officer. “Raytheon has treated us as a true partner, given us many opportunities and we are committed to continue delivering value for them and their customers.”
With the addition of these two new major awards, the Company’s backlog continues to break all-time high records at over $1B, which benefits shareholders for years to come. Ducommun currently provides Raytheon with electronics, circuit card assemblies, harness cable assemblies, and structural products on both legacy and emerging programs.
Kratos Defense & Security Solutions, Inc. Completes Development of the Zeus Solid Rocket Motor (SRM) Family with the Successful Zeus 2 Static Test Fire
April 15, 2024 09:00 ET
| Source: Kratos Defense & Security Solutions, Inc.
https://www.globenewswire.com/news-release/2024/04/15/2862813/224/en/Kratos-Defense-Security-Solutions-Inc-Completes-Development-of-the-Zeus-Solid-Rocket-Motor-SRM-Family-with-the-Successful-Zeus-2-Static-Test-Fire.html
SAN DIEGO, April 15, 2024 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in the defense, national security and global markets, announced today that its Space & Missile Defense Systems (SMDS) Business Unit, a part of Kratos’ Defense & Rocket Support Services (DRSS) Division, successfully completed the static test firing of the Zeus 2 solid rocket motor (SRM) with Aerojet Rocketdyne, an L3Harris Technologies [NYSE: LHX] company, at their Camden, Arkansas facility. This Zeus 2 milestone combined with the successful Zeus 1 static test firing last year, completes the development phase of Kratos’ new affordable commercial SRM family.
Zeus 1 and Zeus 2 are high-performance 32.5-inch diameter solid rocket motors envisioned and internally funded by Kratos. The Zeus motors, designed with commonality, versatility, and affordability in mind, coupled with the Kratos ongoing development of the Erinyes and Dark Fury Hypersonic Flyers demonstrates Kratos’ commitment to investing in crucial defense industrial base technology. Kratos’ technology investments are delivering leading-edge systems and expanding our extensive portfolio of Hypersonic Flyers and SRMs available for our customers.
Kratos has now initiated orders for a combined total of nine Zeus 1 and Zeus 2 SRMs in preparation for upcoming customer flights. The Kratos developed Zeus family of SRMs is in direct response to the urgent need for affordable commercial launch vehicle stages for hypersonic test, ballistic missile target, sounding rocket and other customer missions.
Dave Carter, President of the KDRSS Division, said, “I am very excited to introduce Kratos’ family of Zeus SRMs and commend our SMDS group and teammate, L3HARRIS/Aerojet, for successfully completing this crucial motor development program. Zeus motors enable us to bring to market affordable rocket systems to support critical MACH-TB Hypersonic testing, NASA Sounding Rocket Program experiments, and Navy/MDA target program requirements.”
Eric DeMarco, President and CEO of Kratos Defense & Security Solutions, Inc., said, “Kratos’ successful completion of this internally funded Zeus family of motors will enable rapid and affordable hypersonic testing and be 'first to market' with a highly relevant system to support DoD, NASA and commercial customers. At Kratos, we are committed to rapid development, delivery of relevant systems and introduction of affordable technology to support warfighter requirements for the United States and our Allies' National Security.”
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.
Tesla Stock Is Plunging, But At Least It's Cheaper, Right? Nope.
ED CARSON06:04 AM ET 04/12/2024
Tesla (TSLA) has had a terrible start to 2024. But Tesla stock hasn't become significantly cheaper, by a key metric.
Often when a stock sells off hard, investors and Wall Street analysts will tout it as a buy, citing much-cheaper valuations.
Tesla stock plunged 29.7% through April 11, one of the worst performers on the S&P 500 this year Shares are 58% below their late 2021 all-time high. But Tesla has largely tracked declining earnings estimates amid weaker-than-expected deliveries despite ongoing price cuts.
Tesla Stock Valuation
Date Tesla stock price 2024 EPS est. 2024 P-E ratio 2025 EPS est. 2025 P-E ratio
Dec. 30, 2022 123.18 $7.07 17.4 $7.93 15.5
March 31, 2023 207.46 $5.62 36.9 $6.95 29.8
Sept. 29. 2023 250.22 $4.68 53.5 $6.21 40.3
Oct. 31, 2023 200.84 $3.93 51.1 $5.54 36.2
Nov. 30, 2023 240.08 $3.85 62.3 $5.40 44.5
Dec. 29, 2023 248.48 $3.79 65.5 $5.27 47.2
Jan. 31, 2024 187.29 $3.14 59.7 $4.38 42.8
Feb. 29, 2024 201.88 $3.10 65.2 $4.25 47.5
March 28, 2024 175.79 $2.87 61.25 $3.91 45.0
April 11, 2024 174.6 $2.68 65.1 $3.70 47.2
Tesla Cuts 'More Than 10%' Of Global Employees To Prepare For 'Next Phase Of Growth'
https://www.investors.com/news/tesla-stock-company-layoffs-elon-musk-cybertruck/?src=A00220
KIT NORTON07:59 AM ET 04/15/2024
Tesla (TSLA) will lay off more than 10% of its global workforce, at least 14,000 employees, according to media reports and an internal memo sent by Chief Executive Elon Musk that leaked online Monday. TSLA shares edged lower early Monday.
Tesla and Musk have telegraphed 2024 will be difficult for business throughout the year, starting with the company's fourth-quarter earnings call in late January. The move Monday to cut its workforce is the latest sign Tesla is facing difficulties as EV demand slows and competition ramps up.
Electrek first reported on the rumors of the layoffs over the weekend and the confirmation Monday.
Musk wrote Monday that Tesla has grown rapidly over the years and there have been "duplication of roles and hob functions in certain areas."
"As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity," Musk wrote in the company wide email Monday.
"We are developing some of the most revolutionary technologies in auto, energy and artificial intelligence," he added.
Tesla stock fell more than 1% during premarket action Monday. On Friday, TSLA dropped 2% to 171.05.
Latest Headline For Tesla
Tesla's decision to reduce its head count follows lackluster Q1 deliveries and a Reuters report that it canceled its long promised next-generation $25,000 vehicle, choosing to focus on developing its self-driving robotaxi platform.
Reuters, citing three anonymous sources and internal messages, wrote that Tesla no longer plans to make its low-cost entry-level vehicle, the Model 2, and will continue developing its robotaxi on the "same small-vehicle platform."
However, Elon Musk and others at Tesla have challenged the veracity of the report. Following the publication of the Reuters story, Musk also announced Tesla will unveil the robotaxi on Aug. 8.
Meanwhile, Tesla Cybertruck deliveries appear done for the year. The Cybertruck, which began rolling out to customers at the end of November 2023, is only available for delivery in 2025, according to Tesla's website as of Monday.
Tesla late Friday cut the price of Supervised Full Self-Driving (FSD) to $99 a month from $199. The EV company is offering a one-month free trial of FSD for April in the U.S. for new purchases or existing EVs that are FSD capable.
TSLA stock gained 3.7% to 171.05 for the week, buoyed by Elon Musk's promise of a robotaxi unveiling on Aug. 8.
TSLA shares are trading below the 50-day moving average after falling around 13% in March.
Tesla reports first-quarter earnings and revenue on April 23. Wall Street consensus has 2024 Tesla earnings firmly below 2023's level. That signals another year of earnings declines for this growth stock. Wall Street currently expects Tesla earnings per share of just $2.70 in 2024, according to FactSet. That would be more than a 13% decline vs. last year's $3.12.
Wall Street's 2024 EPS consensus estimates for Tesla have now come down 29% since the end of 2023.
Looking further out, Wall Street consensus has Tesla's EPS in 2025 coming in at $3.70, down from the $5.29 projection at the end of 2023, according to FactSet.
The EV giant ranks eighth in the 35-member IBD Auto Manufacturers industry group. The stock has a 32 Composite Rating out of a best-possible 99. Tesla stock also has a 12 Relative Strength Rating and a 67 EPS Rating.
RDDT analyst initiates:
--Loop Capital Starts Reddit with Buy Rating, $55 Price Target
--Goldman Sachs starts Reddit with Neutral Rating, $40 Price Target
--Piper Sandler Initiates Reddit at Overweight With $50 Price Target
--JMP Securities Initiates Reddit at Market Outperform With $53 Price Target
--Roth MKM Initiates Reddit at Buy With $50 Price Target
--JPMorgan Initiates Reddit at Neutral With $47 Price Target
--Raymond James Initiates Reddit at Strong Buy With $50 Price Target
--Needham Initiates Reddit at Buy With $55 Price Target
--Morgan Stanley Initiates Reddit at Equalweight With $45 Price Target, Sees "Much to Like, But Fairly Valued'
Earnings 4-14-24
NFLX 4-18 A
RTX 4-23 B
TSLA 4-23 A
T 4-24 B
GOOGL 4-25 A
INTC 4-25 A
RKT 4-25 A
ROKU 4-25 A
ROP 4-26 B
RIG 4-29 A
MMM 4-30 B
PYPL 4-30 B
QCOM 5-1 A
AAPL 5-2 A
SQ 5-2 A
DIS 5-7 B
TOST 5-7 A
UPST 5-7 A
PERI 5-8 B
RBLX 5-9 B
NVDA 5-22 A
________________________________________________________
ABNB
AI
AMZN
BP
DOCU
FDX
FIZZ
IRBT
MESA
NKE
PATH
PD
PLTR
PLUG
RNG
SBUX
SHOP
SMCI
TER
TTD
TWLO
ZM
CP's on RIG,RNG,AAPL,PYPL,TSLA
4/12 (on Israel/Iran news)
H/ncps on GOOGL 157.73 and AMZN 186.13 (4/12 close) B tgts on both
RIG 6.11 4000,2000,1250,1000,250m,250g/5000,500,1500,1500,1000,1000
RNG 31.32 jha: 350,250,500
AAPL 176.19 100,50,50,50/100,25,25,50,50,50
PYPL 64.30 550,650,400,425,100m/650,300,300,550,475,500,100
TSLA 171.01 50,25,25,25 / 50,25,25,25,
Earnings 4-12-24
NFLX 4-18 A
RTX 4-23 B
TSLA 4-23 A
T 4-24 B
INTC 4-25 A
RKT 4-25 A
ROKU 4-25 A
ROP 4-26 B
RIG 4-29 A
MMM 4-30 B
PYPL 4-30 B
QCOM 5-1 A
AAPL 5-2 A
SQ 5-2 A
DIS 5-7 B
TOST 5-7 A
UPST 5-7 A
PERI 5-8 B
RBLX 5-9 B
NVDA 5-22 A
________________________________________________________
ABNB
AI
AMZN
BP
DOCU
FDX
FIZZ
GOOGL
IRBT
MESA
NKE
PATH
PD
PLTR
PLUG
RNG
SBUX
SHOP
SMCI
TER
TTD
TWLO
ZM
Will Plug Power Survive 2024?
Story by Geoffrey Seiler • 2d • 4 min read
https://www.msn.com/en-us/money/companies/will-plug-power-survive-2024/
It's been a difficult few years for Plug Power (NASDAQ: PLUG), which has seen its stock fall from over $70 in early 2021 to under $4 today.
In November 2023, when it filed its 10-Q for the third quarter, the company issued what is referred to as a "going concern" warning projecting that it may not have enough cash to fund its operations and capital expenditure requirements over the next 12 months. Such warnings are often a prelude to a company filing bankruptcy. However, Plug Power removed the warnings in its 10-K filing in late February.
Let's take a look at Plug Power and see if the company can turn itself around, or if bankruptcy could still be in the cards.
A struggling business
Plug Power is trying to become an end-to-end hydrogen solutions company that offers everything from hydrogen production to storage to hydrogen fuel cells. Currently, the company's main product is a fuel cell used in forklifts and other material handling equipment that's used in high-volume warehouses and distribution centers. It counts well-known companies such as Amazon, Walmart, and Home Depot among its clients.
The problem with its business model is that Plug Power sells the hydrogen fuel to its customers to run these fuel cell-powered forklifts at huge losses. This has led the company to have negative gross margins, and even larger operating losses. As a result, the company has been bleeding cash. In 2023, it had operating cash flows of negative $1.1 billion and it consumed $1.8 billion in total cash including capital spending.
Building green hydrogen production facilities
Plug Power's current business model is not sustainable, which is why the company began looking to build out its own green hydrogen production facilities. The goal is that by producing its own green hydrogen, the company would be able to sell hydrogen fuel to its customers profitably, instead of selling the fuel at a loss.
The problem the company has run into is that the cost to build hydrogen production plants is quite high, and new projects often come with delays. Plug Power was initially aiming to have five hydrogen production facilities up and running by the end of July 2024. Currently, its Georgia plant is the only one operational, while a plant in Tennessee is expected to come online soon. The Georgia plant would be able to handle around 20% to 25% of its customers' material handling fuel demand, with the Tennessee plant handling about another 15%. The company has also formed a joint venture with Olin Corporation to help fund its plant in Louisiana.
Meanwhile, Plug Power is slowing down its investments in facilities in New York and Texas until it can find better financing options. It also plans to reduce overall capex to help lower its cash burn by 70% compared to 2023. It is looking for low-cost financing from the Department of Energy (DOE) to finish its facilities in New York and Texas. In March, the DOE granted the company nearly $76 million toward building the plants, but Plug Power's still waiting on a $1.6 billion loan that it had applied for to finish the projects.
Ambitious plans and threat of bankruptcy
Plug Power had previously set out ambitious plans of generating $20 billion in revenue with 35% gross margins in 2030. However, management has lost a lot of credibility with investors given the continued push-out of its hydrogen plants coming online and the issuance of a "going concern" warning.
Moving forward, the company should survive through at least the end of this year. It was able to secure a $1 billion at-the-market security issuance (ATM) agreement to sell newly issued shares through or to financial services firm B. Riley, which will add additional cash to its coffers. Meanwhile, if the Georgia and Tennessee hydrogen plants run smoothly, that should help improve its weak fuel margins. If the company receives the DOE loan it applied for, that will only improve its liquidity more and allow it to continue to build its remaining two hydrogen facilities.
That said, Plug Power remains a very risky stock to own at this point. The company has yet to prove it can generate positive gross margins, let alone profits or cash flow. At the same time, it has plans to further dilute investors and add to its debt load. This is a stock best left to watching from the sidelines.
Plug Power Stock’s Wild Ride: Brace for Impact or Bail Out Now?
By Rich Duprey, InvestorPlace Contributor
https://investorplace.com/2024/04/plug-power-stocks-wild-ride-brace-for-impact-or-bail-out-now/
The hydrogen fuel-cell maker has long failed to make good on its promises
Plug Power (PLUG) stock continues to burn through cash while promising investors profits are coming.
Despite having big name clients, the hydrogen fuel cell manufacturer can’t turn sales into profits.
Investors should wait on the sidelines for management to follow through before committing more money.
Plug Power stock (NASDAQ:PLUG) is in a difficult spot. The company obviously has a viable business and product. It has a list of top-name partners either using its products and services or helping it build out a vertical supply chain.
On the other hand, Plug Power stock can’t make money. It is selling its fuel cells at a significant loss resulting in negative cash flows as it burns through the cash it has on hand. It’s why it was forced to include a going concern notice last year, though it subsequently removed the wording from its annual report.
Investors have been the losers. Plug Power stock is down 30% in 2024, off 67% over the past year and the hydrogen fuel cell leader has lost over 95% of its value from the all-time high hit in 2021. During that time shareholders have suffered through significant dilution as Plug issued ever more shares. Between 2018 and 2023, PLUG stock’s share count grew from 218 million to over 595 million.
It’s past time investors looked dispassionately at their company. Plug Power is not in a good spot and despite its cheap valuation, the stock is not a buy.
Profits are always just over the next hill
Plug Power generated nearly $1 billion in revenue in 2023, a record for the company, and 27% higher than the year-ago figure. But net losses nearly doubled to $2.50 per share, though they were caused in part by investing in growth and expansion projects. CEO Andy Marsh says 2024 will be the year Plug Power gets its financial house in order.
“Recognizing the past challenges with cash management, we are dedicated in 2024 to bolstering our financial profile. Our commitment to driving forward the hydrogen economy remains unwavering.”
That’s fine, but investors have heard that refrain before. Last year Marsh was confident 2023 was the year it would achieve break-even margins. He also forecast generating $2 billion in sales on its way to $20 billion in revenue(!) by 2030. Shareholders have likely learned to discount the grandiose claims management makes at this point.
Yet this is a real business
As noted at the start, Plug Power stock is not some vaporware business. Its fuel cells work in the warehouses of Home Depot (NYSE:HD), Walmart (NYSE:WMT) and Amazon (NASDAQ:AMZN). Walmart, in fact, accounts for over 23% of Plug’s revenue. That includes a warrant charge of $5.9 million resulting from a 2017 agreement between Plug, the retailer, and Amazon to purchase some 55.3 million shares of company stock over a period of years.
The warrants are recorded as a reduction in revenue so the contribution amount is actually higher. At the end of last year, almost 35 million of Walmart’s warrant shares had vested. All of Amazon’s 55 million warrant shares have vested. Plug’s second-largest customer accounts for almost 11% of total revenue.
So it’s not as though Plug’s customers aren’t invested in its success. It’s just that Plug Power can’t seem to turn into a profitable business.
Wait for PLUG stock to make good
Whether or not Plug Power is pinky-swear level ready to make 2024 its year to turn around, investors shouldn’t hold their breath. They’ve been promised this for so long they ought to be numb to management’s entreaties at this point.
As hard as it may be to let go, 2024 should be the year shareholders sell their stock and wait for Plug Power to make good on its promises. Only then should investors be willing to put their money into play again. Until then, Plug Power stock can only be considered a sell.
Tesla Less Profitable As Delivery Slump Sinks In
KIT NORTON09:33 AM ET 04/10/2024
https://www.investors.com/news/tesla-stock-profits-under-pressure-as-delivery-slump-sinks-in/?src=A00220
Tesla (TSLA) stock was handed two price target revisions Wednesday as analysts project 2024 vehicle deliveries could undercut last year's total with profit forecasts continuing to fall ahead of first-quarter earnings.
Jefferies analyst Philippe Houchois lowered his Tesla stock price target to 165 from 185 Wednesday while Piper Sandler analyst Alexander Potter cut the firm's price target to 205 from 225.
Houchois expects Tesla will deliver 1.77 million vehicles in 2024, below the 2023 record of 1.81 million. The analyst also reduced his 2024 EBIT and EPS estimates by around 30% to $6.5 billion and $1.87, respectively. With Tesla reporting first-quarter earnings on April 23, Houchois wrote the situation continues loading "more drama into Q1 results," including questions about product priorities and leadership.
Jefferies also expects Q1 cash burn should be "heavily negative." Pipe Sandler sees full-year deliveries slipping to 1.79 million.
On Tuesday, Baird analyst Ben Kallo estimated 2024 deliveries will total 1.84 million, writing that second-quarter deliveries are likely to decline compared to last year.
The consensus view is 1.94 million deliveries, according to FactSet. However, that number is likely to be adjusted following Tesla's worse-than-expected Q1 delivery result.
Meanwhile, Tesla vehicle insurance registrations for the week of April 1-7 totaled 1,880, according to CnEVPost. That's down around 40% compared to last quarter and a 70% decline to the same period in 2023.
"There is no denying that the demand environment has deteriorated," Kallo wrote.
Tesla stock fell 1.6% to 173.96 during market action Wednesday. On Tuesday, TSLA shares gained more than 2% to 176.88. The stock is up 7.3% so far this week.
Tesla EPS Estimates Keep Falling
The recent analyst notes come as Wall Street consensus has 2024 Tesla earnings firmly below 2023's level. That signals another year of earnings declines for this growth stock. Wall Street currently expects Tesla earnings per share of just $2.71 in 2024, according to FactSet. That would be more than a 13% decline vs. last year's $3.12.
Wall Street's 2024 EPS consensus estimates for Tesla have now come down 29% since the end of 2023. With Tesla reporting earnings on April 23, Wall Street is likely just beginning to cut earnings predictions. Some analysts believe earnings could drop even further, potentially around 2021 EPS of $2.26.
Looking further out, Wall Street consensus has Tesla's EPS in 2025 coming in at $3.72, down from $5.29 at the end of 2023, according to FactSet.
Tesla And The Robotaxi
Reuters reported Friday the EV giant has canceled its long promised next-generation $25,000 vehicle, choosing to focus on developing its self-driving robotaxi platform.
Reuters, citing three anonymous sources and internal messages, wrote that Tesla no longer plans to make its low-cost entry-level vehicle, the Model 2, and will continue developing its robotaxi on the "same small-vehicle platform."
However, Chief Executive Elon Musk and others at Tesla have challenged the veracity of the report.
Following the publication of the Reuters story, Musk also announced Tesla will unveil the robotaxi on Aug. 8.
On Tuesday, Morgan Stanley analyst Adam Jonas, a Tesla bull, wrote that canceling or delaying the Model 2, could be a "recognition that making and selling EVs in a traditional consumer model may not create lasting economic value."
Jonas added that while the firm is prepared for Tesla to unveil a robotaxi-prototype in August, it is cautious on "potential commercialization timelines for a fully autonomous taxi service."
Morgan Stanley expects Tesla 2024 EPS to sink to $1.12
Tesla Stock Performance
Last week, Tesla stock sank 6.2%, including a 3.6% dip Friday, to 164.90. Cathie Wood purchased nearly 453,000 shares of Tesla during the week, according to the daily trade disclosures. TSLA shares are trading below the 50-day moving average after falling around 13% in March.
The prior week, Tesla gained 2.9% to 175.79 as the EV company started rolling out its latest full self-driving update to customers.
Emails sent by Elon Musk leaked on social media platforms show he is making it mandatory in North America to install and activate the latest version of FSD on vehicles and to take customers on a "short test ride before handing over the car."
Tesla is also offering a one-month free trial of FSD for April in the U.S. for new purchases or existing EVs that are FSD capable.
The EV giant ranks eighth in the 35-member IBD Auto Manufacturers industry group. The stock has a 32 Composite Rating out of a best-possible 99. Tesla stock also has an 11 Relative Strength Rating and a 67 EPS Rating.
Roblox Taps PubMatic (PUBM) to Offer Programmatic Immersive Video Ads on Its Platform
New partnership will unlock scaled access to the Roblox audience for advertisers along with premium brand demand for the platform
April 10, 2024 09:05 ET
https://www.globenewswire.com/news-release/2024/04/10/2860809/0/en/Roblox-Taps-PubMatic-to-Offer-Programmatic-Immersive-Video-Ads-on-Its-Platform.html
REDWOOD CITY, Calif., April 10, 2024 (GLOBE NEWSWIRE) -- PubMatic (Nasdaq: PUBM), an independent technology company delivering digital advertising’s supply chain of the future, today announced a partnership with Roblox (NYSE: RBLX), a global immersive platform for communication and connection, to enable programmatic media buying of Roblox’s video advertising inventory when it becomes available later this year. The partnership will allow more brands to seamlessly reach Roblox’s global community of over 71 million daily active users1, nearly half of them representing the highly coveted Gen Z demographic, while Roblox will gain scaled access to premium brand advertising demand.
Since 2006, Roblox has built a global community with millions of creators and immersive experiences, from social hangouts and gaming, to concerts, sports, fashion shows, education, and entertainment. With one of the most robust virtual economies in the world, the expansion of Roblox’s advertising business will enable seamless access to this community and allow brands to activate on the platform without creating custom-built content. Like all advertising on Roblox, programmatic ads must comply with the platform’s Community Standards and Advertising Standards grounded in principles of making advertising safe, transparent, and respectful of people’s privacy while still creating opportunities for the community to innovate, engage and earn. This also means Roblox users will know when they are interacting with ad content, and ads will continue to only be served to people ages 13 and up.
“We are committed to making it easier for brands to foster connections with our highly engaged community on Roblox,” said Stephanie Latham, VP of global partnerships, Roblox. “Partnering with PubMatic unlocks the opportunity for more advertisers to seamlessly engage this community through preferred content formats, like video, while providing advertiser controls around brand suitability. The ad experience we offer on the platform is built to be immersive instead of disruptive, and true to the Roblox experience that our community of creators, users, and brands know and love."
“We are thrilled to partner with Roblox to deliver a pioneering advertising solution that marries monetization with user experience,” said Kyle Dozeman, Chief Revenue Officer, Americas at PubMatic. “Advertising creates significant opportunities for many companies, and it funds and fuels the endless potential of the internet. We look forward to empowering Roblox to maintain full control over its advertising ecosystem while enabling advertisers to reach their target audiences effectively.”
Immersive Video Ads Availability:
Roblox immersive video ads are going through an alpha test and will become broadly available to advertisers on Roblox later this year. The video ads inventory will ultimately be made available to PubMatic buyers via programmatic guaranteed, private marketplaces (PMPs), auction package deals and open exchange to maximize access while ensuring unparalleled control and brand suitability. This will enable the platform to tap into PubMatic’s vast demand, including supply path optimization deals with advertising agencies and premium brands. The new partnership also complements PubMatic’s strength in connected TV, online video, mobile app and display with expansion into the social and native advertising segments.
To learn more about the partnership, reach out to PubMatic representatives.
About PubMatic:
PubMatic (Nasdaq: PUBM) is an independent technology company maximizing customer value by delivering digital advertising’s supply chain of the future. PubMatic’s sell-side platform empowers the world’s leading digital content creators across the open internet to control access to their inventory and increase monetization by enabling marketers to drive return on investment and reach addressable audiences across ad formats and devices. Since 2006, our infrastructure-driven approach has allowed for the efficient processing and utilization of data in real time. By delivering scalable and flexible programmatic innovation, we improve outcomes for our customers while championing a vibrant and transparent digital advertising supply chain.
Wow Bao goes all in on the metaverse with the launch of Dim Sum Palace of Roblox
https://www.nrn.com/technology/wow-bao-goes-all-metaverse-launch-dim-sum-palace-roblox
Wow Bao is bringing its loyalty program, Hot Buns Club, to the metaverse in the form of a virtual scavenger hunt that results in real-life perks
Joanna Fantozzi | Apr 10, 2024
Fast-casual Asian bao bun concept Wow Bao announced its latest foray into the metaverse: the company launched a virtual dance club and lounge on Roblox on Wednesday morning. This new gamified experience allows customers with Roblox accounts to don a “bao head” accessory for their avatar, link up their account with Wow Bao’s Hot Buns Club rewards program, and play a scavenger hunt for a chance to win free food.
While other brands like Starbucks have been inching away from Web3-based digital content, which had reached its apex in 2021 and 2022, Wow Bao has been slowly investing more in the metaverse over time. In Nov. 2022, the digital-forward bao concept announced the Hot Buns Club as a tiered NFT membership program as an extension of its Bao Bucks rewards program, as well as the launch of vending machines in the metaverse. Then, in 2023, Wow Bao began minting its first NFTs (known in-universe as “CollectaBaos”). Fans who purchase the NFTs would automatically be enrolled in the rewards club with perks like discounts and free meals.
“We’re just taking the rewards program to another level; it’s an enhancement to get more people through gamification,” Geoff Alexander, CEO of Wow Bao, told NRN. “We have always been early adopters…We are betting on this and believing in it because these last few generations are so involved in technology that we want to be where they are. Those who are in the space applaud us for being where they are.”
Here's how it works: Customers that have a Roblox account can claim one of 10,000 bao bun heads for their avatar to wear, hang out in the virtual lounge, and participate in the virtual scavenger hunt. Fans who are able to play and win the scavenger hunt will receive a coupon to redeem for a free box of baos at their local grocery store, and will be entered for the chance to win free Wow Bao for a year (a free box of baos per week for 52 weeks).
“NFTs might not be as big as they were before, but what we’re trying to do is to offer people the digital CollectaBao as a badge of honor… and we’re making ourselves available to people by offering that,” Alexander said.
The crucial aspect of this program, Alexander said, is the crossover from the metaverse of virtual lounges and digital bun heads to real-life rewards. The virtual gamification builds brand awareness – particularly to the younger generations who tend to use Roblo — while simultaneously rewarding players with free food (or a chance for even more free Wow Bao). If all goes well, in the future, Wow Bao could roll out more games for bao bun fans to play that could result in more real-life perks or even get delivery platforms involved somehow.
“I would love to see great enhancement with this, but it’s going to depend on user adoption,” Alexander said. “We could use education about our product in [the metaverse] and we can show people how to make baos in-game, we could do more contests…we have infinite ideas; it’s just about picking the right path to go down.”
Rivian’s Make-or-Break Moment: Can the ‘New Tesla’ Deliver on 2024 Promises?
Rivian needs to re-tool its factory this summer and start making a gross profit in the fourth quarter
https://investorplace.com/2024/04/rivians-make-or-break-moment-can-the-new-tesla-deliver-on-2024-promises/
7h ago · By Dana Blankenhorn, InvestorPlace Contributor
Rivian (RIVN) has a hot new lineup of electric vehicles to rival Tesla (TSLA).
The problem will be getting them into production.
A gross profit by the fourth quarter?
Electric Vehicle (EV) maker Rivian (NASDAQ:RIVN) stock is being hailed as “the new Tesla (NASDAQ:TSLA).”
The idea is it has cool cars, it has a clear path toward scaling and profits, and it doesn’t have a crazy CEO. Instead, it has R.J. Scaringe, a 41-year old Florida native and the son of an engineer.
But as a stock, the new Tesla is not much different from the old one. Shares are down 57% this year, the market cap below $10 billion. The problem isn’t supply, but demand.
Nice Car You Got There
I got to see a Rivian R1T truck in Atlanta recently. It’s impressive and, unlike the Tesla Cybertruck, it looks familiar. That is, until you look inside. Then it becomes very simple indeed. Open the hood and you don’t see an engine, just a front-end trunk.
All EVs are simple machines. A low-level platform holds the batteries that power it, the motor is just a rotor spinning inside an electromagnet.. The transmission is simple, supporting just 1-2 gears.
All the moving parts of the EV rest at the platform level, so the top can be anything you want. (The platform is usually called a skateboard.) The R1T looks like a truck because people are accustomed to trucks. Change the body and it’s a Sports Utility Vehicle (SUV), the R1S. Change it again and it’s a delivery van, which may be more important.
Rivian’s main task now is downsizing the platform. A smaller R2 platform will lead to cars costing just $45,000. Rivian believes the even-smaller R3 platform will deliver cars at $35,000. This is what most excited people at its recent press conference. The passenger car version of the R3 is a “crossover,” like my Toyota (NYSE:TM) Scion XB of blessed memory.
Reviewers are excited.
Getting From Here to There
Rivian’s challenge is getting from the R1 to the R3.
Despite a lot of hype, RIVN stock made fewer than 14,000 vehicles in the last quarter. The production target for 2024 is just 57,000. It’s a tiny fraction of the 387,000 Tesla made, a result that tanked the stock and overwhelmed demand.
Rivian lost $5.4 billion last year, ending the year with $7.8 billion in cash. It lost $4.86 billion of cash on operations, raising $3.13 billion, mainly convertible notes.
You can see why RIVN stock put off development of its Georgia plant, preferring to continue operations in Normal, Illinois, where it has 8,000 employees.
It doesn’t have the money.
Getting the Cash
Key to getting the cash will be re-tooling the Normal plant for the R2 this summer. The hope is this will result in a gross profit on the cars by the fourth quarter. Half the savings would come from unspecified “design changes, supplier negotiations, and lower raw material costs.”
A gross profit should raise the stock price, and make stock easier to sell. Tesla now sells at 5 times sales, Rivian at 2 times, because Tesla makes money at scale and Rivian does not.
The Bottom Line
It’s going to be tight.
Amazon (NASDAQ:AMZN) has only gotten 10,000 of the 100,000 delivery vans it ordered five years ago. That, and stock purchases from Amazon and Ford Motor (NYSE:F) (Ford has since sold out), put Rivian on the map.
Exclusivity on the vans ended late last year, prompting a big order from AT&T (NYSE:T). To get to 2025, Rivian must make money on the vans.
The van’s design illustrates the hope I still have in the EV market. It’s built on the same skateboard platform as the R1T. As battery costs decline, this simple design will overpower complex ICE machines and change the world.
Whether Rivian will be part of that world will be answered in 2024. If it is, you’re speculating near the lows. If the numbers let it commit to Georgia, then you buy with both hands.
As of this writing, Dana Blankenhorn had a LONG position in AMZN. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Dana Blankenhorn has been a financial and technology journalist since 1978. He is the author of Technology’s Big Bang: Yesterday, Today and Tomorrow with Moore’s Law, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com, tweet him at @danablankenhorn, or subscribe to his free Substack newsletter.
RIVN 10.61
Horrible funnies - fabulous looking vehicle. Seeing more and more of them and envious as all hell.
Sales ($mil) 95,365,536,663,661,1121,1337,1315 (whoops. Wrong direction) and 1141 est on March. (really wrong direction)
Fund ownership 1018,1086,1102,1096
EPS - loss, loss, loss, puke, loss, loss etc Totally sucks
Zero knowledge of how to run a company.
But - Did I mention your SUV's are beautiful?
Earnings 4-9-24
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Elon Musk Denies Report Tesla Is Scrapping Less-Expensive Car
https://finance.yahoo.com/news/elon-musk-denies-report-tesla-155442817.html
Dana Hull and Ed Ludlow
Fri, Apr 5, 2024, 11:00 AM MDT2 min read
(Bloomberg) -- Tesla Inc. shares pared a steep drop in intraday trading after Chief Executive Officer Elon Musk denied a report saying the carmaker had called off plans for a less-expensive vehicle.
The stock fell as much as 6.2% on Friday after Reuters said Tesla had canceled the project, citing anonymous sources and company messages it had reviewed. Shares were down 1.3% as of 1 p.m. Friday in New York.
“Reuters is lying,” Musk wrote on X, without offering specifics. In another post, he responded with an eyes emoji to a Tesla investor who speculated that Tesla was shifting more resources toward trying to bring a robotaxi to market.
Musk first teased a $25,000 model during a battery-related event the company staged in September 2020. The CEO said at that time that a series of innovations Tesla was working on gave him confidence the company could make an electric vehicle at that price point within about three years.
Tesla’s failure to deliver the car on time is proving costly. This week, the company reported its first drop in quarterly vehicle deliveries in four years. It’s losing ground in China, where manufacturers led by BYD Co. offer a bevy of newer and cheaper EVs.
Musk’s biographer, Walter Isaacson, wrote in his book published in September that the billionaire had “repeatedly vetoed” plans to make a less-expensive model for two years after Battery Day. Isaacson wrote that Musk believed Tesla’s self-driving efforts would render the $25,000 car unnecessary.
Reuters reported Friday that Musk had issued a directive in late February to go all in on developing a robotaxi. The CEO has repeatedly claimed Tesla is on the verge of bringing a fully self-driving vehicle to market, but has yet to offer features that can safely be used without drivers keeping their eyes on the road and hands on the wheel.
During Tesla’s most recent earnings call, Musk said Tesla was “very far along” with work on its lower-cost vehicle.
“I’m often optimistic regarding time,” he said. “But our current shows that will start production toward the end of 2025.”
Tesla also has talked up a radical change in its manufacturing approach to reduce costs, including at an investor day hosted in March of last year. During the Jan. 24 earnings call, Musk referred to this as “far more advanced than any other automotive manufacturing system in the world by a significant margin.”
Tesla has scheduled its next earnings release for April 23.
Exclusive: Tesla scraps low-cost car plans amid fierce Chinese EV competition
Updated Fri, Apr 5, 2024, 9:42 AM MDT
By Hyunjoo Jin, Norihiko Shirouzu and Ben Klayman
https://finance.yahoo.com/news/exclusive-tesla-scraps-low-cost-150726195.html
(Reuters) -Tesla has canceled the long-promised inexpensive car that investors have been counting on to drive its growth into a mass-market automaker, according to three sources familiar with the matter and company messages seen by Reuters.
The automaker will continue developing self-driving robotaxis on the same small-vehicle platform, the sources said.
The decision represents an abandonment of a longstanding goal that Tesla chief Elon Musk has often characterized as its primary mission: affordable electric cars for the masses. His first “master plan” for the company in 2006 called for manufacturing luxury models first, then using the profits to finance a “low cost family car.”
Tesla shares fell 4% after the Reuters report.
He has since repeatedly promised such a vehicle to investors and consumers. As recently as January, Musk told investors that Tesla planned to start production of the affordable model at its Texas factory in the second half of 2025, following an exclusive Reuters report detailing those plans.
Tesla’s cheapest current model, the Model 3 sedan, retails for about $39,000 in the United States. The now-defunct entry-level vehicle, sometimes described as the Model 2, was expected to start at about $25,000.
Tesla did not respond to requests for comment.
The stark reversal comes as Tesla faces fierce competition globally from Chinese electric-vehicle makers flooding the market with cars priced as low as $10,000. The plan for driverless robotaxis, which could take longer to deliver, presents a stiffer engineering challenge and more regulatory risk.
Two sources said they learned of Tesla's decision to scrap the Model 2 in a meeting attended by scores of employees, with one of them saying the gathering happened in late February.
“Elon’s directive is to go all in on robotaxi,” that person said.
The third source confirmed the cancellation and said new plans call for robotaxis to be produced, but in much lower volumes than had been projected for the Model 2.
Several company messages reviewed by Reuters about the decision included one on March 1 from an unnamed program manager for the affordable car discussing the project’s demise with engineering staff and advising them to hold off on telling suppliers “about program cancellation.”
A fourth person with knowledge of Tesla’s plans expressed optimism about the decision to pivot away from the cheap-car strategy in favor of robotaxis, a segment Musk has envisioned as the future of mobility. The source cautioned that Tesla’s product plans could change again based on economic conditions.
Squeezing profits from entry-level vehicles is a challenge for any automaker. But Tesla’s delay in pursuing the car Musk once called his dream made it much tougher because it now faces far more competition in that price range.
While Tesla spent years developing its highly experimental Cybertruck, a pricey electric pickup, Chinese automakers have raced ahead on affordable EVs, grabbing market share, gaining economies of scale and offering consumers bargain prices that Western automakers are struggling to match.
As Chinese EVs surged to challenge Tesla’s dominance, Musk was tending to his sprawling empire, which includes rocket-maker SpaceX, brain-chip developer Neuralink, and social media giant X, which Musk acquired in 2022. Formerly called Twitter, the platform has foundered under Musk’s volatile management, shedding most of its value as the company has lost revenue and advertisers.
Plans for the affordable Tesla have been seen as key to delivering on Musk’s stratospheric ambitions for sales growth. Musk said in 2020 that Tesla aspired by 2030 to sell 20 million vehicles – twice as many as the world’s largest automaker, Toyota, sells today. With the death of the Model 2, it’s unclear how he’ll get there.
Expectations for a $25,000 vehicle have underpinned Wall Street analysts’ more modest, but still ambitious, forecasts for Tesla sales. Those forecasts, according to a Tesla investor-relations document, call for vehicle sales rising to 4.2 million by 2028 from 1.8 million last year.
Musk has wavered on the project before. In a biography of the entrepreneur released last year, author Walter Issacson reported that Musk in 2022 “put a hold on” the entry-level EV plans, reasoning that a Tesla robotaxi would make the car irrelevant. Musk’s advisors urged him to stay the course, the book said.
‘HALT ALL FURTHER ACTIVITIES’
Tesla called the affordable-car project NV91 internally and H422 externally when discussing it with suppliers, according to two of the sources and company messages reviewed by Reuters.
Messages from the unnamed Tesla program manager to staffers referenced those code names in discussing the project’s termination. One of those messages sent March 1 said that “suppliers should halt all further activities related to H422/NV91.”
The sources said they did not know all the reasons behind the decision to kill the project.
In another March 1 message, the manager thanked engineering staffers for their efforts and urged them to document what they had learned.
“I’d like to thank everyone for all your hard work and dedication to pushing boundaries and executing the best design possible given the aggressive constraints we had to work within,” the message said. “We would not want all our hard work to go to waste, so it’s important that we tie things off and document things properly.”
The messages showed meetings on the affordable-car project being canceled. The two sources said some engineers have been reassigned.
Tesla’s timeline and business model for robotaxis remain unclear. Musk has publicly predicted a future of mobility in which driverless taxis could eventually become a more common mode of transport than human-driven cars. He has said Tesla, the world’s most valuable automaker, would be "worth basically zero" without achieving full self-driving capability.
Currently, self-driving cars have only been approved by U.S. and Chinese regulators for tightly limited, experimental use on public roads.
Tesla has yet to prove it can produce an autonomous car despite years of predictions by Musk that one was just around the corner, an expectation that partly underpinned Tesla’s soaring valuation. The automaker faces lawsuits and investigations into crashes involving its Autopilot and Full Self-Driving driver-assistance systems, which are not fully autonomous. Tesla has blamed the accidents on inattentive drivers.
Tesla's Autopilot woes are among a number of problems that have drawn scrutiny. The automaker faces another investigation into the driving-range estimates of its cars, launched after Reuters reported last year that Tesla had rigged the in-dash range meters in its vehicles to give rosy projections. Reuters reported in December that the automaker blamed “driver abuse” for chronic failures of suspension and steering parts it long knew were defective.
Tesla's image as a climate-friendly innovator has also suffered with Musk’s tilt toward right-wing politics and polarizing public statements, which have turned away some prospective Tesla buyers, according to surveys and experts.
The automaker reported an 8% year-over-year drop in deliveries on Tuesday, just after its chief Chinese competitor, BYD, reported a 13% gain. Tesla shares dropped 5% on the news, deepening a slide of more than 40% since last July, amounting to a loss of about $400 billion in market value.
Still, Tesla’s market capitalization of $545 billion is higher than the combined worth of the next three most valuable carmakers, Toyota, Porsche and Mercedes-Benz. Tesla’s stock value has long been based on future expectations for mass-market sales and driverless cars rather than its current sales and profits.
RUNNING LATE
The affordable-car project’s cancellation comes as Tesla and other established automakers have been rocked by slowing EV demand growth in the United States and Europe, and cut-throat competition in China.
If Tesla had moved forward with the low-cost car, it wouldn’t have arrived on the market until the latter half of 2025, by the company’s estimate. But the entry-level EV segment is already crowded with compelling models from BYD and many other Chinese brands.
Tesla is late to the segment in part because of a pivotal decision by Musk. In 2020, after releasing its hit crossover, the Model Y, Tesla focused on the highly experimental Cybertruck instead of an affordable car.
Musk unveiled a prototype of the angular, stainless steel-clad truck in 2019 and predicted a starting price of about $40,000. The vehicle finally arrived last year as a 2024 model. The two versions available now start at about $80,000 and $100,000. Tesla says a lower-end Cybertruck costing about $61,000 won't be ready for delivery until 2025.
The company has also struggled to work through manufacturing problems, particularly with the truck's pioneering battery technology. Musk hopes to sell the vehicle in high volumes but warned investors last fall about "enormous challenges" ramping up production and making the vehicle profitable.
"We dug our own grave with the Cybertruck," he said.
During the same period, BYD has seen its electric-vehicle sales soar in China, growing from about 130,000 to more than 1.5 million, not including its thriving business in plug-in hybrids or its fast-growing exports.
BYD already offers a slew of low- and mid-range models, including its Seagull hatchback for less than $10,000. The Chinese automaker now plans to export that car for more than double that price - but still lower than the target for the cheap car Tesla had planned to build.
(Reporting by Hyunjoo Jin in San Francisco, Norihiko Shirouzu in Austin and Ben Klayman in Detroit. Editing by Marla Dickerson and Brian Thevenot.)
THIS BOARD IS FOR TRACKING STOCKS I FOLLOW, OWN OR TRADE
Charts are repeated often, and changes are followed and tracked for MY own purpose.
The Price listed on ANY post, is the PRICE PER SHARE AT THE TIME OF PAGE CREATION.
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Amazon.Com (Nasdaq: AMZN)
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Tesla(Nasd: TSLA) 94.66 81.86 GAPS
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