Wealth moves from the impatient to the patient....
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Are you completely sure that is the "best joke of the day"?? LOL
Tesla May Have Launched Energy Plan To Help Reduce Electricity Rates
1:05 pm, October 27, 2020
Portfolios: First Watchlist
Tickers: $TSLA
Tesla Inc (NASDAQ: $TSLA) is known for more than its cars. The company also produces solar panels and batteries, designs computer chips, and writes self-driving software.
Now the company is looking to help lower electric rates for customers with a new Energy Plan in the United Kingdom.
In a report covered on Teslarati, it looks like Tesla is going to work with local company Octopus Energy to help distribute its new energy plan. Tesla's new energy plan is going to offer a rate of 8p(pence)/kWh to Tesla vehicle owners and 11p/kWh for non-owners. This can be almost 50% lower than the average rate of 14.40p/kWh in the UK, although rates vary by location.
The energy plan will work with Tesla's solar products including solar panels and Powerwall. Tesla lists benefits such as helping the environment, reducing energy bills, and protection from power outages.
I'm sure shareholders will push the vote through giving a nice boost to the pps... $1B is huge $$$ for them...
October delivery numbers next week should be nice and give us a good pop. Then earnings the following week, should beat the street.... $NIO
On Tuesday, shares of NIO (NYSE: NIO) saw unusual options activity. After the option alert, the stock price moved up to $27.23.
Sentiment: BULLISH
Option Type: TRADE
Trade Type: CALL
Expiration Date: 2020-10-30
Strike Price: $28.00
Volume: 13797
Open Interest: 17505
$SPAQ... would be nice to see a move back up towards $20, once this acquisition is done... $1B cash on hand should fund things for awhile...
$AMD Buy the dip...
Thank you for your warm warning of oblivion... Good luck!
Me too @ $11.88 Good luck!
$AAL
Tesla Raises Capex Guidance, Plans Outlay Of Up To $12B Over 2 Years
1:51 pm, October 26, 2020
Portfolios: First Watchlist
Tickers: $NIO $TSLA $XPEV
Tesla Inc (NASDAQ: $TSLA) operates in a capital-intensive industry, and the electric vehicle giant is stepping up investment to maintain its lead over the competition.
What Happened: Tesla's capex for fiscal year 2020 will likely come in at the high end of its guidance range of $2.5 billion to $3.5 billion, the company revealed in a Monday 10-Q filing.
The revision is due to the ramping of new products, the Model Y and Solar Roof; the construction of manufacturing facilities on three continents; and the development and manufacturing of new battery cell technologies.
The hike in capex also takes into account the pipeline of announced projects under development and all other continuing infrastructure growth, Tesla said.
More importantly, Tesla said it expects capex to increase to $4.5 billion to $6 billion in fiscal 2021 and 2022.
The company expressed confidence in meeting the capital needs with its cash flow from operations.
Better working capital management — resulting in shorter days outstanding than days payable outstanding — and sales growth are facilitating positive cash generation, the automaker said.
"We expect our ability to be self-funding to continue as long as macroeconomic factors support current trends in our sales," according to Tesla.
Why It's Important: Chinese EV start-ups such as Nio Inc – ADR (NYSE: NIO), and Xpeng Inc – ADR (NYSE: XPEV) are going all out to innovate in order to give Tesla a run for its money.
Traditional automakers have also joined the party.
It becomes necessary for Tesla to invest in R&D and manufacturing to maintain technological superiority and over peers and to sustain its sales growth.
TSLA Price Action: At last check, Tesla shares were slipping 2.17% to $411.49.
And I don't own Tesla right now. I trade the stock. I don't fall in love it...
$TSLA
I don't care what you say until you call people names. That is TOS violation and will deleted.
Electric Vehicles Are Becoming The Future Of The Automotive Industry
11:20 am, October 26, 2020
Portfolios: First Watchlist
Tickers: $TSLA $DHPC $DPHC $F $GM $HMC $IDEX $WKSP
BNEF predicts that by 2040 EV sales will rise to nearly 60% of the global auto market. That is quite a difference compared to 2010 when annual sales were close to zero. With consumers becoming more aware and conscious, along with favorable market forces that are gaining momentum, EVs are quickly becoming the future of the automotive industry with many EV companies showing massive growth potential.
E-Tractors
Ideanomics Inc (NASDAQ: $IDEX) has acquired 15% of California-based Solectrac, Inc. for $1.3 million, its very first US-based OEM, Solectrac develops, assembles and distributes 100% battery-powered electric tractors for agriculture and utility operations. With this investment in Solectrac, Ideanomics expands its global footprint in the EV industry through specialty commercial vehicles. Moreover, Ideanomics gained a seat on Solectrac's Board of Directors. This opportunity will give Ideanmoics access to the global agricultural tractor market that is poised for rapid growth, although currently valued at $75 billion. The time has come to say goodbye to diesel tractors.
Solar Powered EVs
Besides recently forming an agreement with Atlis Motor Vehicles, Worksport Ltd (OTC: WKSP) has announced today to engage Thermal Technology Services Canada to test the Company's groundbreaking TerraVis solar panel technology and increase its efficiency. Increases in product efficiency of even a few per cent can make all the difference when it comes to the performance of an electric vehicle. Each additional mile counts and Worksport is set to deliver the most advanced product with solar technology, from which the technologically advanced and eagerly-anticipated for Atlis XT electric pickup truck can greatly benefit.
Traditional Automakers Are Not Wasting Any Time
General Motors Company (NYSE: GM) revived the Hummer for the 2022 GMC Hummer EV, a fully electric truck that is expected to arrive in dealership next year. Last week, GM unveiled its "Factory Zero" as it gave a new life to its Detroit-Hamtramck assembly plant. The new GMC Hummer EV electric truck will be built in this all-electric factory, accompanied by the Cruise Origin, a self-driving EV designed by GM and Honda Motor Co Ltd (NYSE: HMC). Last month, Ford Motor Company (NYSE: F) also announced plans for a new factory at its large Rouge site in Dearborn, Michigan, that will build it's the all-electric version of its legendary F-150 pickups.
New Entrants Are Upping Their Game
Northeast Ohio-based Lordstown Motors (NASDAQ: RIDE), which purchased GM's former Lordstown Assembly Complex and DiamondPeak Holdings Corp (NASDAQ: DPHC), a special purpose acquisition company, completed a merger that makes the EV startup a publicly traded company, effective Monday. The deal gives Lordstown the financing it needs to start production of its electric Endurance truck. It aims to deliver its truck by next September, the same time Rivian Automotive Inc., Tesla Inc (NASDAQ: TSLA) and General Motors Co. plan to launch their own electric truck candidates.
Outlook
On Thursday, during the last presidential debate, former Vice President Joe Biden pledged to shift the U.S. economy away from oil. This goal is impossible to reach without a wider EV adoption as road transport accounted for almost 70% of America's oil consumption in 2019. Therefore, market forces and green government policies can only accelerate the EV revolution, both in the United States and around the world, with Europe already being well on that path. A cleaner tomorrow where we will no longer have to choose between performance, economy and environmental sustainability is well underway.
Electric Vehicles Are Becoming The Future Of The Automotive Industry
11:20 am, October 26, 2020
Portfolios: First Watchlist
Tickers: $TSLA $DHPC $DPHC $F $GM $HMC $IDEX $WKSP
BNEF predicts that by 2040 EV sales will rise to nearly 60% of the global auto market. That is quite a difference compared to 2010 when annual sales were close to zero. With consumers becoming more aware and conscious, along with favorable market forces that are gaining momentum, EVs are quickly becoming the future of the automotive industry with many EV companies showing massive growth potential.
E-Tractors
Ideanomics Inc (NASDAQ: IDEX) has acquired 15% of California-based Solectrac, Inc. for $1.3 million, its very first US-based OEM, Solectrac develops, assembles and distributes 100% battery-powered electric tractors for agriculture and utility operations. With this investment in Solectrac, Ideanomics expands its global footprint in the EV industry through specialty commercial vehicles. Moreover, Ideanomics gained a seat on Solectrac's Board of Directors. This opportunity will give Ideanmoics access to the global agricultural tractor market that is poised for rapid growth, although currently valued at $75 billion. The time has come to say goodbye to diesel tractors.
Solar Powered EVs
Besides recently forming an agreement with Atlis Motor Vehicles, Worksport Ltd (OTC: WKSP) has announced today to engage Thermal Technology Services Canada to test the Company's groundbreaking TerraVis solar panel technology and increase its efficiency. Increases in product efficiency of even a few per cent can make all the difference when it comes to the performance of an electric vehicle. Each additional mile counts and Worksport is set to deliver the most advanced product with solar technology, from which the technologically advanced and eagerly-anticipated for Atlis XT electric pickup truck can greatly benefit.
Traditional Automakers Are Not Wasting Any Time
General Motors Company (NYSE: GM) revived the Hummer for the 2022 GMC Hummer EV, a fully electric truck that is expected to arrive in dealership next year. Last week, GM unveiled its "Factory Zero" as it gave a new life to its Detroit-Hamtramck assembly plant. The new GMC Hummer EV electric truck will be built in this all-electric factory, accompanied by the Cruise Origin, a self-driving EV designed by GM and Honda Motor Co Ltd (NYSE: HMC). Last month, Ford Motor Company (NYSE: F) also announced plans for a new factory at its large Rouge site in Dearborn, Michigan, that will build it's the all-electric version of its legendary F-150 pickups.
New Entrants Are Upping Their Game
Northeast Ohio-based Lordstown Motors (NASDAQ: RIDE), which purchased GM's former Lordstown Assembly Complex and DiamondPeak Holdings Corp (NASDAQ: DPHC), a special purpose acquisition company, completed a merger that makes the EV startup a publicly traded company, effective Monday. The deal gives Lordstown the financing it needs to start production of its electric Endurance truck. It aims to deliver its truck by next September, the same time Rivian Automotive Inc., Tesla Inc (NASDAQ: TSLA) and General Motors Co. plan to launch their own electric truck candidates.
Outlook
On Thursday, during the last presidential debate, former Vice President Joe Biden pledged to shift the U.S. economy away from oil. This goal is impossible to reach without a wider EV adoption as road transport accounted for almost 70% of America's oil consumption in 2019. Therefore, market forces and green government policies can only accelerate the EV revolution, both in the United States and around the world, with Europe already being well on that path. A cleaner tomorrow where we will no longer have to choose between performance, economy and environmental sustainability is well underway.
Solar Energy Is On Track To Become The New Energy King
11:04 am, October 26, 2020
Portfolios: First Watchlist
Tickers: $TSLA $CSIQ $ENPH $JKS $RUN $SEDG $SPWR
When COVID-19 started its relentless march across the globe in March, there was some concern that it would put the solar industry to a halt. This fear was derived from the fact that residential solar sales are usually sold door-to-door as well as plant closures and increasing pandemic-related costs. But this scenario did not play out. In fact, the construction industry has been booming this year.
Innovation
The pandemic has also brought about some innovations that were a long time coming for solar energy. Residential solar companies were forced to adapt their sales to a digital framework. SunPower Corporation (NASDAQ: SPWR) is one of the leaders in this digital-first approach, but Tesla Inc (NASDAQ: TSLA) has also caught this wave. Moreover, when it reported its earnings last week, the company revealed it is aiming for its solar business to be just as strong as its main star, the EV business. Elon Musk announced that Tesla's next ‘killer product' is its Solar Roof and that everyone will see why next year. But even Sunrun Inc (NASDAQ: RUN) is adapting to a new normal with fewer physical touchpoints so competition will be intense.
Improved Profitability
At the end of the day, the reason solar stocks are up this year is the improved financial performance. Canadian Solar Inc. (NASDAQ: CSIQ), JinkoSolar Holding Co., Ltd (NYSE: JKS), Solaredge Technologies Inc (NASDAQ: SEDG), and Enphase Energy Inc (NASDAQ: ENPH), four of the biggest equipment suppliers in the industry have remained strong during the pandemic, with some companies also seeing margins increase.
But this piece of good news is a result of the industry focusing more on specializing rather than vertically integrating. For example, SunPower has spun off its development business, inverter manufacturing, and its solar manufacturing arm which led it to better financial results and better margins almost across the board.
Politics
Considering that Joe Biden has taken a clear polling lead over Donald Trump, the boost of solar stocks is not a surprise. Biden's strategy is much more focused on clean energy than Trump's, despite not being supportive of the "Green New Deal." The overall perception is that Biden will be good for the industry.
Affordability
Solar power is already the cheapest source of electricity in some parts of the world, according to a new report released on October 13th by the International Energy Agency (IEA). This was greatly enabled by governmental policies in more than 130 countries that aim to encourage the rise of renewables by reducing the cost of building new solar installations.
Outlook
As solar technology continues to improve and innovation continues to drive those costs down, solar is on track to become "the new king of electricity supply." With global efforts to put climate change under control, the solar industry is expected to dominate over the next decade. The EU alone has set a goal to source 32 percent of its energy from renewables by 2030, therefore, the forecast for solar is sunny.
Tesla Set To Be 'One Of The Biggest Winners' In A Biden Presidency, Says Analyst
11:48 pm, October 25, 2020
Portfolios: First Watchlist
Tickers: $TSLA
Tesla Inc (NASDAQ: $TSLA) stands to be among the major gainers in the event Joe Biden wins the presidential race, CFRA analyst Garrett Nelson told Yahoo Finance in an interview Friday.
What Happened: Nelson said that Tesla would be “one of the biggest winners” due to the company being an “electric vehicle pure play.” EVs would be heavily subsidized under a Biden administration, the analyst noted.
The CFRA analyst pointed to Biden’s proposals of “a massive expansion of tax credits” for EVs as well as a “huge build-out of EV charging stations” as upsides.
“You're looking at about a 20-fold increase in the number of EV charging stations, which would really help the electric vehicles in the adoption,” said Nelson.
Why It Matters: In the final presidential debate held in Tennessee last week, Biden said his administration would invest in 50,000 EV charging stations on the highways.
The candidate said the charging stations would lead to the U.S. owning “the electric car market of the future.”
The former vice president thinks his vision for EVs can tackle climate change and create “new good-paying jobs.”
The Elon Musk-led company reported third-quarter revenue of $8.77 billion, an increase of 39% year-on-year last week.
Price Action: Tesla shares closed nearly 1.2% lower at $420.63 on Friday.
Looks like a nice correction. Maybe another day or two of this and we can rise again... $TSLA
Tesla Full Self-Driving To Be Available For Monthly Rentals Next Year, Musk Says
4:38 am, October 23, 2020
Portfolios: First Watchlist
Tickers: $TSLA
Tesla Inc (NASDAQ: $TSLA) CEO Elon Musk said Thursday the company will introduce a way to rent the full-self driving feature on a monthly basis, beginning next year.
What Happened: A monthly rental option for the FSD will be available “sometime next year,” Musk announced on Twitter.
The Tesla CEO also said that the impending price hike for the software due Monday is pushed to Thursday.
The executive clarified that the increased price would only apply to the United States for now. “One week clock will start in other countries as beta is released,” Musk said.
The announcement of a rental option has spurred a debate on social media regarding the pricing with several Reddit users speculating it could cost anywhere from $50 a day to a yearly subscription of $2,000.
A user “Globalserviced” said he would “happily pay for a subscription service” as the “full on capital outlay is ridiculous."
“I’ll be pretty upset if I pay $8k for it now and next year I could’ve just rented it for less than that!” said Reddit user ACGrzz.
Why It Matters: Musk had announced earlier that the FSD price would be raised $2,000 beginning Monday after the beta version was released. At that time, there was no clarity on how the price increase would affect non-U.S. customers.
The FSD beta version began rolling out on Tuesday to a limited number of users, with the automaker taking a slow and cautious approach. Several such users have shared their experiences on social media, with largely positive feedback.
In July, the company had raised the price of the FSD feature to $8,000.
Price Action: Tesla shares closed 0.75% higher at $425.79 on Thursday and gained 0.16% in the after-hours session.
$NIO Yep, very nice indeed!
Tesla Hacker Discovers New Radar, Ultrasonic Sensors, More
6:04 pm, October 22, 2020
Portfolios: First Watchlist
Tickers: $TSLA
Tesla Inc (NASDAQ: $TSLA) recently updated the Model Y with more range, and the Model 3 with a total refresh that includes new tires, a new center console and other improvements.
It appears that Tesla is about to add more new features to the company's fleet.
A Tesla hacker by the name of @greentheonly on Twitter is known for digging into the code of newly dispatched Tesla software updates. In the latest builds, he said he found a lot of new information.
It seems Tesla is working on a new in-house radar that may be up to twice as powerful than the current one. The Model 3 will be receiving a heated radar, which the Y already has, the hacker said.
The Model Y "flat fold" third row was also found, which is expected to ship by the end of 2020.
Tesla is also developing new in-house ultrasonic sensors to go along with the new radar. These new sensors should have better range and resolution then the sensors now in use.
Benzinga's Take: While Tesla says all vehicles made today are capable of Full Self-Driving, it doesn't mean Tesla will stop improving their software and sensor suite.
Better sensors will allow the vehicles to see farther and react to situations sooner and more reliably.
There is also always the chance Tesla may retrofit improvements to customers who already paid the hefty sum for Full Self-Driving.
Yep, good luck to you too...
Yah, I talked myself into a 1000 shares, may buy a few more if this starts to move with a Blue win, especially if they sweep...
$SNDL
Yes, small cities... Did I stutter and say large cities? And I am not going to get into some debate about all the types of energy.
Good luck!
Some people just don't get it, but that's okay. Tesla EV, Programming Tech, Energy Division (powering whole cities) and the batteries are getting better, sleeker... Solar to power the batteries that power the cities. The boring business.
Tesla is freaking amazing...
And so much more to come... $TSLA
This is NOT just an EV car company.... When people get that in their head, they will open their eyes to what all $TSLA has going...
Energy division alone will be huge. Big profits already...
Corrections will always happen, but this is still a buy with lots of upside... My crazy thoughts anyways...
They may not outright legalize it. But they should re-classify it which would mostly decriminalize and allow banks to do business. That will be huge...
$IDEX Looking good today, but wish she would hold the higher gains for the day. One day she will fly...
Elon Musk Claims Many Improvements For Tesla Cybertruck Before Release 1:34 pm, October 22, 2020
Portfolios: First Watchlist
Tickers: $TSLA
Tesla Inc (NASDAQ: $TSLA) has had another profitable quarter. During the earnings call, CEO Elon Musk was open about many things for the future of Tesla. One update from Musk told us that Cybertruck may be better than the information Tesla has provided us so far.
Answering a question about any Cybertruck updates, Musk said it will be produced at the new Gigafactory Texas, which was expected. Musk said he was recently working in the Tesla design studio working on improvements for the Cybertruck. He claimed there are already many small improvements since the reveal.
"I think it’s going to be better than what we showed," said Musk.
Musk confirmed Tesla is still on target for first deliveries by the end of 2021, but commented that high volume production would be in 2022. Timelines may be pushed back if there are any unforeseen problems in Gigafactory construction or vehicle design and assembly.
Benzinga's Take: Musk has been excited about the Cybertruck for many years, and it seems Tesla is still on track to produce and deliver the vehicle when it first expected. Tesla has been early on goals lately, delivering the Model Y approximately six months early, as well as planning to start deliveries of the seven-seater Y in December, earlier than the 2021 estimate.
Well .165 was the low of the year, so it might be worth taking a shot here... 1000 shares are only $171.20 right now, so not much of a gamble, but if it goes back to $1 area, then you just made some decent $$$$... If the Dems win, it looks like they will legalize pot so that would be a big win for the whole sector. I think I just talked myself into buying some shares... lol
For what next year?
Been going on for decades, otherwise there would be a lot more millionaires and such... These guys are crooks and nothing more. They make a market a legally steal your money. The SEC is fully aware of these practices and rarely do anything about it. Too many rich people and corporations won't allow these practices to just stop, or just won't stop anyway. They can just pay fines like JP Morgan, the largest ripoff company in the world. They make way more money than the fines they have to pay, so no big deal to them. To absolutely stop this practice they need to suspend all MM/Trading for these brokerages for 1 year or more. Forget the fines, stop them from trading period.
But WallStreet has lots of Government under their thumbs, so nothing will ever happen...
Tesla Has Another Profitable Quarter
1:06 pm, October 22, 2020
Portfolios: First Watchlist
Tickers: $TSLA $F $GM $IDEX $PCRFY
On Wednesday, Tesla, Inc. (NASDAQ: $TSLA) continued its meteoric rise as it delivered its fifth straight quarterly profit. Tesla has also set a revenue record, triggered by a boost in vehicle deliveries as well as sales of pollution credits to other automakers.
Key Q3 figures
Revenue rose 30% year-on-year, from $6.30 billion the same period last year to a record $8.77 billion. Analysts had expected revenue of $8.36 billion, according to Refinitiv. But Tesla would not have achieved a profitable quarter without sales of regulatory credits which amounted to $397 million. In fact, this is the fourth consecutive quarter that Tesla would not have been profitable without this revenue source that makes up 7% of total automotive revenue.
Net income was $331 million, which was more than triple its second quarter earnings which were impacted by the temporary plant shutdown due to the pandemic. Excluding items, profit amounted to 76 cents per share. Operating income also expanded to $809 million, improving operating margins to 9.2%.
Tesla is no longer starving for cash as it ended the quarter with $14.5 billion in cash on hand, marking a 69% increase in just three months.
Competition
Musk announced Cybertruck orders will be delivered in 2022 or the end of next year at the earliest. But on the same day, General Motors Company (NYSE: GM) revealed an electric version of its Hummer pickup truck is set to challenge Tesla's futuristic Cybertruck. Back in September, Ford Motor Company (NYSE: F) also announced that it would be slashing the price on its Mustang Mach E to increase its competitiveness.
As more competitors enter the race, environmental regulatory credit will dry up as a source of revenue for Tesla. It has been a meaningful source of revenue for more than a year now.
Tech improvements
Back in September, Musk unveiled a sweeping new vision for Tesla's battery manufacturing plans and a road map to achieving an affordable EV. Not to mention the ambitious plan to deliver up to 40% more EVs than last year. On Wednesday, the focus on improving manufacturing cost, efficiency and capacity as quickly as possible was evident. But Musk said the company won't count on its own cell production before 2022, so it will continue relying on Panasonic Corporation (OTC: PCRFY) and other external partners for battery supplies. But its Berlin factory will begin production as early as next year while also building its biggest battery and vehicle factory yet in Austin, Texas, and at great speed.
Outlook
The target to deliver half a million vehicles by the end of this unprecedented year is still on. This implies Tesla will have to significantly ramp up its sales in the undergoing quarter. With a market cap exceeding $394 billion, Tesla already became the largest global automaker, despite lagging its competitors in key financial figures, namely sales, revenue and profit. But unlike its automotive peers, Tesla has defied the pandemic-induced downturn that drowned the whole auto industry as it surfed its way through the pandemic, with its shares gaining 400% this year. By the looks of it, Tesla has sufficient liquidity to fund Musk's roadmap and long-term ambitions.
Nio Reportedly Working On In-House Self-Driving Chips
11:55 am, October 22, 2020
Portfolios: First Watchlist
Tickers: $NIO
Nio Inc – ADR (NYSE: $NIO), which has made a strong comeback in the year of the COVID-19 pandemic, is leaving no stone unturned to keep the momentum going.
What Happened: The Chinese electric vehicle manufacturer is planning to embark on in-house R&D to develop computing chips for autonomous driving, the Chinese news outlet 36Kr reported, citing industry insiders.
The plan is still in a nascent stage and is being personally supervised by Nio's founder chairman and CEO William Li Bin, the report said.
Bin is working on the final structure for the project and has been on the lookout for a technical leader with a chip background, 36Kr said. The company has reportedly set up a separate hardware team, internally named Smart HW.
The capital investment for project would range from 1 billion yuan ($150 million) to $1 billion, depending on the extent of the research.
"NIO has been investing in self-driving. As for the specific technological route and relevant details about hardware and software R&D, information will be communicated on particular aspects when the time is right," a company spokesperson told Benzinga on Thursday.
Nio cannot respond to individual rumors one-by-one, he said.
Why It's Important: Tesla developed in-house system-on-chips in 2019.
The internally developed chips are a part of the company's full self-driving computer, and each of the chips is capable of performing up to 72 trillion operations per second.
Nio is looking to follow in the footsteps of the industry leader in boasting a vertically integrated unit for manufacturing EVs.
NIO Price Action: At last check, Nio shares were down 2.87% at $27.07.
$TSLA Nice find... That shows +86.4% probability it hits 800, and negative % probability for shorts...
Good luck!
Tesla Stock Upgrades
According to Baird, the prior rating for Tesla Inc (NASDAQ: TSLA) was changed from Neutral to Outperform. In the third quarter, Tesla showed an EPS of $0.76, compared to $0.37 from the year-ago quarter. The current stock performance of Tesla shows a 52-week-high of 502.49 and a 52-week-low of 50.036. Moreover, at the end of the last trading period, the closing price was at $422.64.
According to JMP Securities, the prior rating for Tesla Inc (NASDAQ: TSLA) was changed from Market Perform to Market Outperform. For the third quarter, Tesla had an EPS of $0.76, compared to year-ago quarter EPS of $0.37. At the moment, the stock has a 52-week-high of 502.49 and a 52-week-low of 50.036. Tesla closed at $422.64 at the end of the last trading period.
$TSLA Their technology and Energy division alone is worth Billions and just getting bigger and better...
For Tesla, Yet Another Profitable Quarter
10:08 am, October 22, 2020
Portfolios: First Watchlist
Tickers: $TSLA
Tesla Inc. (NASDAQ: $TSLA) reported third-quarter revenue of $8.77 billion, a year-over-year increase of 39%. The total from the company came in higher than estimates of $8.26 billion. Automotive revenue was $7.6 billion.
"This was achieved mainly through substantial growth in vehicle deliveries as well as growth in other parts of the business," the company said in the release.
Tesla reported earnings per share of 76 cents for the third quarter, which was higher than the consensus estimate of 56 cents.
Tesla reported GAAP net income was $331 million in the third quarter, marking the company's fifth consecutive quarter of net profit.
The company's operating margin was 9.2%, up from 4.1% in the same quarter last year.
Tesla remains on track to produce and deliver its goal of 500,000 vehicles in the current fiscal year.
"We are increasingly focused on our next phase of growth," the company said. "Our most recent capacity expansion investments are now stabilizing with Model 3 in Shanghai achieving its designed production rate and Model Y in Fremont expected to reach capacity-level production soon."
The average selling price declined slightly in the third quarter as consumers shifted to the more affordable Model 3 and Model Y.
The energy business was a positive with Powerwall demand remaining strong and growing. Many solar business customers are including a Powerwall with installation according to the company.
"We continue to believe that the energy business will ultimately be as large as our vehicle business."
That division saw quarterly revenue of over $1.1 billion in the third quarter. The company brought $397 million in regulatory credits, almost double the amount earned during the same period last year.
Solar deployments more than doubled quarter-over-quarter to 57 MW. Solar roof installations almost tripled sequentially. The company recently demonstrated a 1.5-day solar roof install.
The profitability of the company remains a key for possible inclusion in the S&P 500. The high stock-based compensation came from the 2018 compensation plan for CEO Elon Musk. Tesla said $290 million was triggered under that plan due to the company's high market capitalization and probable operational metric milestones.
Shares of Tesla closed Wednesday at $422.57. In after-hours trading, shares of Tesla are up 3% to $434.02.