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eastunder

12/27/22 12:29 PM

#13621 RE: eastunder #13620

TSLA Gaps 94.66 & 81.86 to track

on split adjusted chart

94.66 8/11/20

81.86 7/02/2020

(TSLA multiple too high : Track that as well)

Current pps and 365 day chart for 2022: NTS today was a gap down @ 121.02


Year 2020 in full 365 day chart with end date 12/31/20 Split adjusted charts w/ gaps
The 11/16/2020 gap filled on 12/22/22 @ 137.47 (which does not show specifically because this is an 'end date' chart on a one year time frame showing the 2020 year.



But shows on this 900 day (almost 3 year)

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eastunder

01/09/23 11:01 AM

#13660 RE: eastunder #13620

TSLA Gap 114.39

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eastunder

01/12/23 9:44 AM

#13682 RE: eastunder #13620

TSLA 114.39



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eastunder

04/20/23 11:55 AM

#14064 RE: eastunder #13620

TSLA Gap 146

Open Gaps
Direction Date range
up Jan-26-2023 146.41 to 154.76
up Jan-23-2023 133.51 to 134.27
up Jan-17-2023 122.36 to 125.02
up Jan-09-2023 114.39 to 117.11



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eastunder

04/26/23 6:25 PM

#14107 RE: eastunder #13620

Tesla’s Plunge Drags Valuation Below $500 Billion on Margin Fear

https://finance.yahoo.com/news/tesla-plunge-drags-valuation-below-143246202.html

Esha Dey
Wed, April 26, 2023 at 2:11 PM MDT·

(Bloomberg) -- Tesla Inc. shares extended their brutal selloff, pulling the company’s market valuation below the key half-trillion dollar mark as investors increasingly fear its price-cutting plan will eat into profits.

The stock price closed down 4.3% at $153.75, the lowest since Jan. 25. The company has lost more than $84 billion from its market capitalization over five trading sessions since posting disappointing earnings. The shares are down more than 26% in April alone.

Tesla on Thursday reported first-quarter results that missed analysts expectations on nearly every metric. Most significantly, profit margins plunged, displaying the impact of the company’s aggressive price-cut strategy. Investors were particularly rattled by Chief Executive Officer Elon Musk indicating that Tesla will keep lowering prices to coax potential buyers of its vehicles.

“Despite significant price cuts, demand still appears challenged for Tesla and price elasticity appears to be more muted than Tesla believed,” Bernstein analyst Toni Sacconaghi wrote in a note Thursday. “We maintain that price cuts have and will undermine industry profitability (including Tesla’s), but that incumbents are deep pocketed and not likely to back down.”

The results sparked a flurry of price-target reductions by Wall Street analysts, who pointed to the risks to Tesla’s premium valuation amid a steep erosion in profit margins. The company’s hefty margins are often cited by bulls as one of the key reasons why the stock deserves to trade at a much higher multiple than rival automakers.

Tesla shares have been on quite a journey this year. After ending 2022 with a steep 65% plunge that pushed its valuation to around $340 billion in early January, the stock rallied rapidly for two months and the company’s market capitalization ballooned to more than $670 billion. But that optimism faded in early April after the first-quarter delivery numbers showed the price cuts were not increasing demand as much as expected. Then, the full results reported last week made the point even clearer.

Falling Behind

Meanwhile, oil major Exxon Mobil Corp. is breathing down the EV maker’s neck on the S&P 500 leader board, as it is set to rise above the $500 billion milestone for the first time since 2007. Luxury-goods behemoth LVMH is in the race as well.

The companies trading places, temporarily or not, highlights the higher volatility in Tesla shares. One reason could be the company’s premium valuation — the stock trades at 41 times its forward earnings, compared to Exxon’s 12 and LVMH’s 25 — leaving little margin for error.

Still, optimists remain, as some on Wall Street see the selloff as a temporary blip brought on by wider macro-economic pressures. In the longer term, they say, Tesla’s still-high margins can leave it better positioned than peers to weather this storm.

For example, Cathie Wood, an ardent Tesla bull and the CEO of Ark Investment Management, said in an interview with CNBC last week that her 2027 price target for the stock is $2,000. (HAHAHAHAH! I DO so love her! SHE HAS BALLS!)

“While skeptics may focus on less than 20% automotive gross margin, we think an obsession with this metric is unwarranted,” Piper Sandler analyst Alexander Potter wrote in a note. “Once the dust settles, Tesla should bounce back.”
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eastunder

05/30/23 9:20 AM

#14294 RE: eastunder #13620

3 Cathie Wood Stocks Expected to Rise 245% to 980% Over the Next Few Years

https://finance.yahoo.com/m/f5c73645-e91f-3fb7-81ab-096302f10277/3-cathie-wood-stocks-expected.html
By Will Healy, Justin Pope, and Jake Lerch – May 28, 2023 at 9:00AM

KEY POINTS
Cathie Wood thinks Tesla's market cap could exceed $6 trillion by 2027 thanks to robotaxis and full self-driving.
Coinbase looks like the leading long-term crypto exchange.
Despite a drop of almost 90%, Roku could surge well past its pandemic highs.

Despite some bold predictions, investors should not discount the possibility of earning outsize returns in these stocks

Admittedly, some of the more audacious analyst predictions can sound too good to be true. Relatively few stocks grow at triple-digit rates over a medium- or long-term time horizon, and such growth far exceeds the S&P 500's average annual return of around 10% per year.

However, before dismissing predictions involving the stocks picked by Cathie Wood and her team at Ark Invest, investors should keep its track record in mind.

Ark Invest first bought Bitcoin below $250 per coin and Tesla (TSLA 4.72%) when it typically sold for a split-adjusted price of approximately $13 per share. That history may justify taking the more daring analyst predictions seriously with Tesla, as well as Wood investments like Coinbase Global (COIN 0.09%) and Roku (ROKU 2.69%).

She's made critics eat crow before. Will she be right again?

Jake Lerch (Tesla): Wood really believes in Tesla. So much so that the fund manager expects Tesla shares to hit $2,000 by 2027. That would represent an increase of 927% from its current level and value the company at $6.3 trillion.

TSLA Current Price
$193.17

So, what is it that has Cathie Wood so excited about Tesla? In a nutshell, it's a combination of three factors:

Increasing production figures
Full self-driving
Robotaxis
Each of these characteristics builds upon one another.

It starts with expanding production numbers. With each Tesla that rolls off the assembly line, the company acquires a new platform for the technology that Wood sees as the next chapter in Tesla's story.

Once a Tesla is on the road, consumers can enable full-service driving (currently in beta). And while the system remains far from perfect, Tesla and Wood are quick to note that full-service driving is already safer than human-only controlled vehicles.

Finally, once Tesla can break through the final barrier of removing a human driver from the vehicle altogether, an enormous opportunity presents itself: autonomous robotaxis.

A fleet of self-driving robotaxis could revolutionize transportation -- and blow Tesla's stock price sky-high. And while there are plenty of naysayers when it comes to full-service driving and robotaxis, Wood isn't worried. After all, she (and Tesla) have proved the critics wrong before. Remember, she bought her first shares of Tesla at a split-adjusted price of $13 per share. So, while owning Tesla shares isn't for everyone, I think Wood might be onto something.

Coinbase is a crucial component of Cathie Wood's flagship fund

Justin Pope (Coinbase Global): Wood is also big believer in cryptocurrency, especially Bitcoin, which she believes could reach $1.48 million per coin by 2030. Investors typically buy and sell Bitcoin and other cryptos on exchanges, and Wood has thrown her fund's money behind Coinbase. The exchange currently makes up about 6.7% of The Ark Innovation ETF, its fourth-largest position

COIN Current Price
$56.92


You could think of Coinbase as a picks-and-shovels investment for exposure to the crypto economy. As a crypto exchange, Coinbase makes money in several ways, including transaction fees when customers trade (both individuals and institutions), subscription services, staking and custody of crypto assets, and more. The company's trailing 12-month revenue is $2.8 billion, but you can see that it's down significantly, mainly due to a bear market in cryptocurrencies.

Coinbase isn't a risk-free investment. The company is working through a challenging regulatory landscape, including butting heads with U.S. regulators about how cryptocurrencies should be governed. This is only more glaring after the high-profile collapse of its competitor FTX. On top of that, Coinbase could be a volatile business at times because it essentially revolves around the crypto economy.

But the potential reward is bigger, too. Coinbase becomes a more distinguished industry leader as competitors like FTX fail, and the crypto economy could be enormous. Coinbase has fetched analyst price targets as high as $200, a 245% gain, but think bigger picture. Wood made Coinbase a core holding for a reason, and if her Bitcoin prediction comes anywhere close to happening, Coinbase could be a thrilling investment over the coming years.

The ad stock poised to stream outsize returns

Will Healy (Roku): At first glance, one can understand doubts about any rosy scenario for Roku. The stock has dropped by almost 90% from its July 2021 high, and a slumping ad market highlights struggles it could have with competitors such as Samsung, Amazon, and Google parent Alphabet.

ROKU Current Price
$56.05

But amid those headwinds, Ark Invest estimates a $605-per-share price target by 2026. This means Roku stock would rise 980% over a three-year period at its current price.

Wood's team believes its revenue growth will average 39% per year, with most of the increase coming from video advertising revenue. It makes that prediction amid a slump in advertising that dramatically slowed Roku's growth in 2022.

To this end, Wood and her team continue to double down on Roku. Share counts have climbed from a low of more than 3 million shares in the summer of 2021 to just over 11 million currently. Today, Roku makes up nearly 5% of Ark Invest's stock holdings.

The bet could pay off if Roku rises to Ark Invest's expected $605-per-share price or its bull case scenario high of $1,493 per share. Still, Ark Invest also outlined a possible bear scenario where its price rises to only $100 per share.

Admittedly, many investors may perceive the bear case as the most likely to occur. After increasing by 56% in 2021, revenue growth had slowed to just 1% by the first quarter of 2023. While consensus estimates point to a recovery, they forecast 17% revenue growth in 2024, well short of Ark Invest's 39% yearly revenue growth estimate.

But despite an ad slump, streaming hours rose 20% yearly in the latest quarter. Also, ad markets tend to act cyclically, and such growth should supercharge ad revenue as spending recovers. Also, Roku's market share, which stood at 31% in the second quarter of 2022, is the largest, according to Conviva. That would likely make Roku the largest beneficiary of a digital ad recovery.

Such attributes do not guarantee that Roku will meet Ark Invest's expected price target. Nonetheless, with an unstoppable trend toward more streaming and Roku's position in the ad market, Ark Invest's estimate may not be as far-fetched as it might seem.
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eastunder

01/30/24 5:07 PM

#15093 RE: eastunder #13620

Judge rules in favor of plaintiffs challenging Musk's Tesla pay package

https://finance.yahoo.com/news/judge-rules-favor-plaintiffs-challenging-214636442.html

A Delaware judge on Tuesday ruled in favor of the investor plaintiffs who challenged billionaire Elon Musk's $56 billion Tesla pay package, a court filing showed.

"The plaintiff is entitled to rescission," the judge said in her ruling, directing parties to confer on a final form of order to implement her decision.

The court's opinion directed the Tesla shareholder who challenged the pay plan to work with Elon Musk's legal team on an order implementing the judge's decision.

The ruling can be appealed to the Delaware Supreme Court.

Tesla shares fell 2.8% in post-market trading.

Tesla's agreement with Musk is by far the largest compensation deal ever for an executive and it contributes a significant part of his fortune, which is one of the world's largest.

Tesla directors argued during a week-long trial that the company was paying to ensure one of the world's most dynamic entrepreneurs continued to dedicate his attention to the electric-vehicle maker. Antonio Gracias, a Tesla director from 2007 to 2021, called the package "a great deal for shareholders" because he said it led to the company's extraordinary success.

Tornetta's lawyers argued the Tesla board never told shareholders that the goals were easier to achieve than the company was acknowledging and that internal projections showed Musk was quickly going to qualify for large portions of the pay package.

The plaintiff's legal team also argued the board had a duty to offer a smaller pay package or look for another CEO and that they should have required Musk to work full-time at Tesla instead of allowing him to focus on other projects.

Musk in 2022 bought social media company Twitter, which he renamed X, and he has founded several startups, including brain implant company Neuralink, tunneling venture the Boring Co and SpaceX, a rocket venture.

Musk testified during the compensation trial in November 2022 that the money would be used to finance interplanetary travel.

"It's a way to get humanity to Mars," he testified. "So Tesla can assist in potentially achieving that."

The package grants stock option awards allowing Musk to buy Tesla stock at heavily discounted prices as escalating financial and operational goals are met.

He must hold the acquired stock for five years.

Musk qualified for all 12 tranches or performance targets in the plan. He was not guaranteed any salary.

The ruling will put the spotlight on Tesla's next round of compensation negotiations with the CEO. Musk said in a post on X in January that he was uncomfortable leading Tesla unless he had 25% of the voting control. The billionaire owned around 13% of the company at the time.

Tesla's value ballooned to briefly top $1 trillion in 2021 from $50 billion when the package was negotiated.

Amit Batish at Equilar, an executive pay research firm, estimated in 2022 that Musk's package was around six times larger than the combined pay of the 200 highest-paid executives in 2021.

In July, Tesla's directors agreed to return $735 million to the company to settle shareholder allegations brought in a separate lawsuit filed in 2020 that they overpaid themselves. The lawsuit challenged options that were granted to directors starting in June 2017.
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eastunder

03/10/24 10:17 AM

#15335 RE: eastunder #13620

TSLA cpps 175.34

Open Gaps
Direction Date range
up May-04-2023162.95 to 163.51
up Jan-26-2023 146.41 to 154.76
up Jan-23-2023 133.51 to 134.27
up Jan-17-2023 122.63 to 125.02
up Jan-09-2023 114.39 to 117.11



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eastunder

03/18/24 1:47 PM

#15367 RE: eastunder #13620

TSLA 172.68



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eastunder

03/18/24 2:29 PM

#15368 RE: eastunder #13620

Tesla Stock Is Rallying Today: What's Going On?
https://www.msn.com/en-us/money/markets/tesla-stock-is-rallying-today-what-s-going-on
© Provided by Benzinga

Tesla Inc (NASDAQ:TSLA) shares are trading higher Monday after the company announced it would increase Model Y prices in several countries.

What Happened: Tesla announced on Saturday that it would increase prices for its Model Y vehicles by approximately 2,000 euros ($2,177) in multiple European countries, per Reuters. The price increases are expected to go into effect on March 22.

The price increase news comes just a day after the EV maker on Friday said it would increase prices for all Model Y vehicles in the U.S. by $1,000, beginning April 1. Tesla previously announced a similar round of price increases for the Model Y rear-wheel drive and long-range models on March 1.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” CEO Elon Musk said last month when the price increases were announced on X.
Trending: Donald Trump Outmaneuvered Manhattan DA By Gaining Access To Michael Cohen's Emails. Here's What Will Hap

Goldman Sachs analyst Mark Delaney on Monday maintained Tesla with a Neutral rating and lowered the price target from $220 to $190, citing production challenges and weakening EV demand.

Tesla shares have been under pressure in recent months as the broader EV industry battles waning demand. Tesla’s margins have also been hurt by a pricing war with competitors. The EV maker reported worse-than-expected results in January and turned in disappointing delivery numbers for the second consecutive quarter.

Last week, Tesla shares continued to slide after the company’s China sales fell significantly in February. According to data from the China Passenger Car Association, Tesla sold just 60,365 vehicles made in China last month, down 15.51% from January and down 18.87% on a year-over-year basis. Tesla also had to shut down operations at its Gigafactory in Germany following a suspected arson attack.

Tesla is not due to report earnings again until April. Analysts currently expect the company to report earnings of 67 cents per share on revenue of $25.384 billion, according to estimates from Benzinga Pro.

TSLA Price Action: Tesla shares were up 3.92% at $169.82 at the time of publication, according to Benzinga Pro.
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eastunder

03/25/24 6:47 PM

#15417 RE: eastunder #13620

Fin tags TSLA, AAPL, SHOP

TSLA cpps 172.63



AAPL cpps 170.85



SHOP cpps 78.42

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eastunder

04/02/24 11:50 AM

#15440 RE: eastunder #13620

Tesla's 'Disaster' Q1 Deliveries Could be Followed by 'Darker Days' if Musk Fails to Reverse Trend, Wedbush Says
11:28:13 AM ET, 04/02/2024 - MT Newswires

11:28 AM EDT, 04/02/2024 (MT Newswires) -- Tesla's (TSLA) Q1 deliveries were an "unmitigated disaster" that could be followed by "some darker days" if Chief Executive Elon Musk fails to reverse the trend, Wedbush said in a note to clients Tuesday.

The electric vehicle maker said Tuesday it delivered 386,810 vehicles in Q1. That was below the Street's expectations of around 443,000 vehicles, according to the note. Tesla also produced 433,371 vehicles in the quarter, compared with the consensus estimate of 452,976 from analysts polled by Bloomberg.

"While we were anticipating a bad 1Q, this was an unmitigated disaster 1Q that is hard to explain away," Wedbush analysts, led by Daniel Ives, said. "We view this as a seminal moment in the Tesla story for Musk to either turn this around and reverse the black eye 1Q performance."

The analysts said that this period is a "fork in the road" for Musk, who will need to "quickly take the reins back in" to regain confidence. "Otherwise, some darker days could clearly be ahead that could disrupt the long-term Tesla narrative" Wedbush said.

That said, the analysts remain "bullish" on the long-term narrative for Tesla given growth prospects and the EV/FSD potential over the coming quarters.

Wedbush maintained its outperform rating on Tesla's stock, with a price target of $300.



"That said" line? Too funny! LOLOLOLOL.
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eastunder

04/04/24 10:19 AM

#15446 RE: eastunder #13620

TSLA targets after quarter delivery miss. High and low marked

The electric vehicle maker said Tuesday it delivered 386,810 vehicles and produced 433,371 units for the March quarter. The projections on Visible Alpha were for about 454,200 and 462,100 units, respectively. The company partly attributed the drop in volumes to factory shutdowns amid shipping diversions caused by the recent Red Sea conflict.



--Morgan Stanley Cuts Tesla's Price Target to $310 From $320, Notes 'Weak' Q1 Update; Keeps Overweight Rating
MT Newswires07:34:29 AM ET

JPMorgan Cuts Price Target on Tesla to $115 From $130, Maintains Underweight Rating
MT Newswires09:34:33 AM ET, 04/03/2024

Truist Securities Adjusts Tesla Price Target to $176 From $227, Maintains Hold Rating
MT Newswires10:00:42 AM ET, 04/03/2024

Deutsche Bank Cuts Tesla's Price Target to $189 From $200, Maintains Buy Rating
MT Newswires09:12:33 AM ET, 04/03/2024

HSBC Cuts Price Target on Tesla to $138 From $143, Maintains Reduce Rating
MT Newswires09:07:14 AM ET, 04/03/2024



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eastunder

04/04/24 11:35 AM

#15453 RE: eastunder #13620

TSLA 172.19



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eastunder

04/05/24 12:03 PM

#15460 RE: eastunder #13620

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.)
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eastunder

04/05/24 3:35 PM

#15464 RE: eastunder #13620

TSLA Gap for track: 146.41
1/25/23

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eastunder

04/10/24 9:55 AM

#15482 RE: eastunder #13620

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.
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eastunder

04/15/24 9:54 AM

#15497 RE: eastunder #13620

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.
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eastunder

04/16/24 9:01 AM

#15509 RE: eastunder #13620

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.
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eastunder

04/18/24 10:18 AM

#15525 RE: eastunder #13620

UPDATE 5-Tesla again seeks shareholder approval for Musk's 2018 pay voided by judge
13:32:45 PM ET, 04/17/2024 - Reuters
(Adds analyst comment, background on pay package, paragraphs 8, 15-16)

By Arsheeya Bajwa and Tom Hals

April 17 (Reuters) - Tesla on Wednesday asked shareholders to reaffirm their approval of CEO Elon Musk's record-breaking $56 billion compensation that was set in 2018, but was rejected by a Delaware judge in January.

The re-vote comes ahead of next week's quarterly earnings for Tesla, which is grappling with weak demand as well as a reputational hit to Musk from his political leanings and approval of an antisemitic conspiracy theory last year.

"Elon has not been paid for any of his work for Tesla for the past six years...," Board Chairperson Robyn Denholm wrote in a letter included in the regulatory filing. "That strikes us — and the many stockholders from whom we already have heard — as fundamentally unfair."

Tesla's board, which includes Musk's brother Kimbal Musk, has repeatedly come under fire for its close ties with the billionaire.

In seeking a re-vote, Tesla is using a section of Delaware law that allows companies to ratify actions that are technically defective such as selling stock before the board approves an increase in shares, but not always controversial.

The board's special committee, which was formed to insulate the process of setting the pay from allegations of Musk's influence, said it cannot predict if its "novel" approach of getting a re-approval would be proper under Delaware law.

The largest pay package in corporate America has no salary or cash bonus and sets rewards based on Tesla's market value rising to as much as $650 billion over the next 10 years from 2018.

Tesla in 2018 said the grant could be worth $56 billion, though the amount depends on Tesla's stock price. The package currently is worth about $40 billion.

Tesla shares fell nearly 2% after the company's latest move, putting its market value on track to close below $500 billion for the first time in about a year.

AFTER RE-VOTE, MUSK MAY APPEAL

Musk's pay was rejected by Judge Kathaleen McCormick of Delaware's Court of Chancery, who termed the compensation as "an unfathomable sum" that was unfair to shareholders.

If Tesla shareholders vote in favor, it would not automatically entitle Musk to the money, Eric Talley, a Columbia Law School professor, said.

Approval would fix the flawed 2018 shareholder vote process, Talley said, but Musk would need to appeal to overturn the findings that he controlled the negotiation process that led to the record-breaking compensation.

Musk is expected to appeal the ruling later this year after the trial court determines how much the shareholder's legal team should be paid by Tesla.

The original pay package negotiations were found by judge McCormick to have been heavily influenced by Musk, who after the ruling tweeted - "Never incorporate your company in the state of Delaware".

Brian Dunn, a visiting lecturer in Cornell University’s School of Industrial and Labor Relations who consults boards on compensation, said the new vote was evidence the board was compromised.

“No one has ever said he shouldn’t get paid, but let’s remember the initial plan was flawed beyond its unprecedented magnitude,” Dunn said. On Wednesday, Tesla also urged investors to approve its plan to move the company's state of incorporation from Delaware to Texas, potentially escalating a tussle between Musk and the state of Delaware.

Earlier this year, Musk shifted the location of incorporation of his rocket company SpaceX to Texas and brain-chip startup Neuralink to Nevada from Delaware.

Tesla has also proposed board re-appointments for Kimbal Musk and James Murdoch, son of media tycoon Rupert Murdoch.

TESLA'S MOUNTING CONCERNS

Tesla's shares have lost more than 36% of their value so far this year as electric-vehicle sales slowed down globally. Developments such as scrapping plans for an affordable EV and deciding to cut at least 10% of its staff have also left analysts questioning the company's strategy.

(Reporting by Arsheeya Bajwa and Yuvraj Malik in Bengaluru and Tom Hals in Wilmington, Delaware; Editing by Arun Koyyur and Nick Zieminski)
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eastunder

04/24/24 11:30 AM

#15553 RE: eastunder #13620

Tesla puts bleak Q1 results in rearview mirror by accelerating timeline for affordable EVs
09:59:08 AM ET, 04/24/2024 - Briefing.com

For the third consecutive quarter, Tesla (TSLA) fell short of EPS estimates while revenue in Q1 declined by 8.7% yr/yr to $21.3 bln, also missing expectations and representing the EV maker's first sales decrease since 2Q20. Yet, TSLA shares are charging higher today, registering some much-needed gains after the stock's 43% year-to-date plunge.

The rebound is partly attributable to the muted expectations surrounding this earnings report and the simple fact that this weak quarter is now in the rearview mirror. After TSLA reported disappointing Q1 deliveries on April 2, followed by news of steep shipment declines at its Shanghai facility and a fresh round of price cuts in the U.S., a dismal quarterly report was essentially a given. Now that it's in the books, investors can set their sights on more positive developments.On that note, TSLA disclosed in its Q1 shareholder letter that it has "updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025." This future vehicle line-up will include the highly anticipated affordable "Model 2", which is expected to have a price tag under $30,000.The update comes as a pleasant surprise because back on April 5, Reuters reported that TSLA was looking to scrap plans to build its mass-market car mainly due to rising competition in China. Indeed, in the weeks leading up to last night's Q1 earnings report, it appeared as if Elon Musk had shifted gears as he focuses on launching a robotaxi in the 2025/2026 timeframe.

On April 8, Musk looked to spark some excitement for the robotaxi, announcing that it will be unveiled on August 8.However, investors weren't taking the bait as the prospects of TSLA cancelling plans to launch Model 2 forced analysts to rethink their EPS and revenue expectations for FY26 and beyond. Now, TSLA hasn't just put Model 2 back on the table, but it has also sped up the timeline, aiming to begin production ahead of its previously communicated start in 2H25. Of course, given Musk's propensity of being overly optimistic regarding new product launches, this should be taken with a grain of salt.Nevertheless, TSLA confirming that Model 2 is still in the works comes as a relief and helps change the bearish narrative that has enveloped TSLA this year. With a legitimate growth catalyst on the horizon, that TSLA believes will enable more than 50% growth over 2023 production, the focus turns away from a Q1 that was quite dismal.Driven by eroding ASPs, gross margin decreased again, slipping by 20 bps qtr/qtr and by 199 bps yr/yr to 17.4%. Meanwhile, operating expenses continue to climb higher, increasing by 37% yr/yr to $2.53 bln as TSLA ramps up its investments in AI infrastructure to enhance its FSD technology.

The main takeaway is that TSLA's Q1 results were weak across the board, but that was widely anticipated and largely baked into the stock. By disclosing its plans to accelerate the launch of more affordable vehicles, TSLA has swung the narrative back to a more bullish manner as the next significant growth catalyst is back on the table.
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eastunder

04/26/24 2:33 PM

#15573 RE: eastunder #13620

NHTSA closes Tesla deadly autopilot probe, opens new investigation over fixes
12:13:00 PM ET, 04/26/2024 - United Press International
The National Highway Traffic Safety Administration closed an investigation into the Autopilot feature on certain Tesla models, while at the same time opening a new probe into the car maker's fix of the problem.

In a news release issued Friday, the administration's Office of Defects Investigation concluded more than a dozen fatal crashes involving Tesla vehicles were the fault of the driver incorrectly using settings, and not exclusively Autopilot.

The ODI identified at least 13 crashes involving one or more fatalities "in which foreseeable driver misuse of the system played an apparent role," the NHTSA said in the statement.

In December, Tesla announced a recall affecting around 2 million of its cars over crash risks related to their autopilot controls.

A month prior, a jury in California found the company was not responsible for a 2019 crash that killed a Model 3 owner and seriously injured two passengers.

The new NHTSA investigation announced Friday will now look at whether or not the fixes implemented by the Texas-based electric vehicle adequately addressed the issue.

"Following deployment of the remedy in (Tesla) Recall 23V838, ODI identified concerns due to post-remedy crash events and results from preliminary NHTSA tests of remedied vehicles," the administration said in the statement Friday.

"Also, Tesla has stated that a portion of the remedy both requires the owner to opt in and allows a driver to readily reverse it. Tesla has also deployed non-remedy updates to address issues that appear related to ODI's concerns under [a recall]. This investigation will consider why these updates were not a part of the recall or otherwise determined to remedy a defect that poses an unreasonable safety risk."

One of the fixes announced by Tesla at the time was to restrict some of the Autopilot features.

Evidence discovered during the previous investigation discovered "Tesla's weak driver engagement system was not appropriate for Autopilot's permissive operating capabilities," the ODI said in documents released Friday.

"This mismatch resulted in a critical safety gap between drivers' expectations of [Autopilot's] operating capabilities and the system's true capabilities. This gap led to foreseeable misuse and avoidable crashes."

The news comes after Tesla earlier in the week released its 2024 first quarter financial results.

The company had not responded to the NHTSA news as of 12 p.m. EDT Friday.
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eastunder

04/27/24 11:02 AM

#15576 RE: eastunder #13620

Cathie Wood’s recent Tesla stock buys pay off

Famed money manager Cathie Wood is an unabashed admirer of Musk and his goal for a transformation to clean-energy cars from internal combustion engine, or ICE, vehicles.

Earlier this month, she reiterated her $2,000 forecast for Tesla shares (they traded at $166 on April 25). She initiated that goal a year earlier. So, it’s no surprise that Tesla is the biggest holding in Wood’s flagship Ark Innovation ETF (ARKK) .

She regularly buys Tesla stock when it’s falling and picked up a combined 151,982 on April 19 and April 22. That bloc was worth $21.6 million as of the April 22 close, the day before the earnings report.

The stock’s ascent since then has lifted Ark Innovation’s Tesla holding by almost $100 million to $694.9 million as of the April 24 close. That’s quite a killing in only two days.
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eastunder

04/29/24 8:13 AM

#15577 RE: eastunder #13620

Tesla shares surge as Elon Musk returns from China with FSD 'Game Changer'

Martin Baccardax
Mon, Apr 29, 2024, 5:42 AM MDT3 min read

Tesla (TSLA) shares powered higher Monday after the electric-car maker won a key endorsement for the rollout of its driver-assistance technologies in China following Chief Executive Elon Musk's surprise weekend visit to Beijing.

Musk is looking to use Tesla's driver-assistance technology, which it calls Full Self-Driving (FSD), as both a key plank in its longer-term growth story and an offset to slumping electric vehicle sales in key markets worldwide.

The world's second-richest man traveled to Beijing on Sunday as part of an unannounced visit that included a face-to-face meeting with Premier Li Qiang as he looks to persuade officials to both allow the rollout of FSD technologies in the world's biggest car market and potentially export the data it collects into Tesla's nascent AI-powered data centers.

The China Association of Automobile Manufacturers (CAAM) provided a key component of the first of Musk's ambitions by endorsing Tesla, along with scores of other domestic carmakers, as being compliant with China's data-security rules.

Multiple media reports also suggest Tesla was able to cut a deal with tech giant Baidu (BIDU) , often referred to as the Google of China, to support some of the mapping and navigation functions of its FSD technologies.

The endorsement from the China auto association marks a significant milestone in Tesla's FSD efforts in China, where sales have fallen to multiyear lows amid intense competition from low-cost rivals and amid the broader EV demand slump.

FSD approval is first step to autonomy

Tesla, which has around 1.7 million of its cars on the road in China, launched its FSD software around four years ago but was forced to limit some of its functioning owing in part to the country's data-collection rules.

However, Tesla likely also needs permission from Beijing to transfer data collected by its FSD software to its AI supercomputers in the U.S. in order to truly launch an autonomous driving option.

(Tesla's FSD technology does not render cars fully autonomous. The company urges drivers to keep their hands on the steering wheel, maintain strict attention to the road and be prepared to take corrective action as necessary.)

Musk has long argued that Tesla is not just a carmaker but rather is a collective of tech-focused startups. He sees these divisions as pivotal to his broader ambition of a creating a world packed with self-driving cars powered by his company's AI-led technologies.

Morgan Stanley analyst Adam Jonas has said Tesla's DoJo supercomputer, which is powered by AI technologies, could add more than $500 million to Tesla's market value "through a faster adoption rate in mobility (robotaxis) and network services (software as a service)" over the coming years.

"If Musk is able to obtain approval from Beijing to transfer data collected in China abroad, this would be a 'game changer' around the acceleration of training its algorithms for its autonomous technology globally," said Wedbush analyst Dan Ives, who carries an outperform rating and a $275 price target on the stock.

"While demand challenges exist in China for Tesla, [Wall Street] is looking through this painful transition period for the long-term growth story to emerge for Musk & Co., with FSD a key ingredient in that recipe for success," he added.

Tesla shares were marked 10.5% higher in premarket trading to indicate an opening bell price of $185.93 each, the highest since early March.
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eastunder

05/21/24 3:00 PM

#15671 RE: eastunder #13620

TSLA cpps 185.87
Open gap up at 147.26
(+33.53% off 139.09)

Tesla (TSLA) provided a significant update Monday on its long-in-the-tooth project to develop electric semitrucks, which has experienced a series of delays since CEO Elon Musk debuted the rig back in 2017.

The company confirmed its Tesla Semi remains on track for production-spec deliveries to customers by 2026 while offering more details on range and payload capacity for the EV truck.

Speaking at the Advanced Clean Transportation (ACT) Expo in Las Vegas, Tesla exec Dan Priestley said, "We're building a factory in Nevada that is being ramped in 2026 for customer deliveries and ramping to eventual target capacity to 50,000 units a year."

Currently, the Tesla Semi is in pilot testing with PepsiCo’s FritoLay division. Priestley said PepsiCo would be receiving an additional 50 trucks in its fleet for the pilot program. The company is currently testing approximately 35 trucks.

Tesla stock rose as much as 4.5% on Tuesday.



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eastunder

05/22/24 1:08 PM

#15675 RE: eastunder #13620

Tesla Shareholders Are Voting On Elon Musk's Pay Package. What We Know And What's At Stake.
FacebookTwitterLinkedInShare Licensing
KIT NORTON09:26 AM ET 05/22/2024

https://www.investors.com/news/tesla-vote-elon-musk-pay-package-tesla-stock/?src=A00220

Tesla (TSLA) shareholders are voting in the run-up to the June 13 annual meeting as everyone awaits the result to see if Chief Executive Elon Musk's 2018 $56 billion compensation package will be reapproved or not.

Since Tesla on April 17 requested shareholders ratify Musk's 2018 pay package despite a Delaware court voiding the plan earlier this year, the EV giant has been attempting to drum up votes of its retail investor base. Musk's compensation deal is currently valued at around $46 billion.

The vote comes after a Delaware judge ruled against the 2018 package, deciding that the package was excessive and unfair to Tesla investors. The judge criticized Musk's "extensive ties" with Tesla board members.

Tesla board Chair Robyn Denholm and other Tesla executives plan to spend the coming weeks traveling across the world to get support from shareholders, according to the Wall Street Journal. In 2018, the Tesla board won approval for Musk's 2018 pay package with 73% of the vote.

Tesla shareholders are also currently voting on whether to move Tesla from Delaware to Texas. The EV giant has been incorporated in Delaware since 2003.

The Votes Needed
Voting has been open for the past few weeks. The Tesla board has recommended "yes" votes on both reincorporating in Texas and Musk's pay.

The vote on Musk's compensation requires a simple majority of votes, excluding those owned by Musk and his brother, Kimbal Musk. Meanwhile, the vote to reincorporate Tesla in Texas necessitates a majority of all shares outstanding, with any uncast votes counted as "no."

All Tesla stockholders can vote in Tesla's annual meeting with a deadline of 11:59 p.m. Eastern Standard Time on June 12. Registered stockholders may also vote at the virtual annual meeting.

Retail, or individual investors, currently own around 30% of Tesla shares. Last week, billionaire Leo Koguan, who reportedly holds more than 27 million TSLA shares, posted to X he had voted against Musk's compensation plan. Koguan also voted against incorporating Tesla in Texas and new board terms for Elon Musk, Kimbal Musk and James Murdoch.

Koguan has a net worth of $5.9 billion, Forbes estimates. He is one of the largest Tesla retail investors.

Institutional investors hold a much-larger share of Tesla stock than they did in 2018. Vanguard voted against the Musk pay package in 2018, while BlackRock and many others supported it.

In 2018, proxy advisory firm Institutional Shareholder Services recommended voting no on the Tesla package, saying the compensation was excessive. ISS has not weighed in on the current votes.

Eight institutional investors announced Monday they oppose Musk's pay package along with the reelection of Kimbal Musk and Murdoch, according to federal regulatory filings. The investors include Amalgamated Bank, New York City Comptroller, Nordea Asset Management, AkademikerPension and SOC Investment Group among others.

"It's like Mount Everest. It's a huge hill to climb because getting 50% of the shareholders to vote, let alone what they vote for, is quite tough," Tesla chair Denholm told the Financial Times late last week.

The Legal Situation
Meanwhile, it's still unclear how the Delaware court could respond. The judge has scheduled a July 8 hearing to decide whether lawyers for the Tesla shareholder who brought the case against Tesla will receive $6 billion in TSLA shares as a legal fee.

After that hearing, Musk can request the Delaware Supreme Court to review the case. Unless the decision is reversed on appeal, the 2018 pay package will not be recognized under Delaware law.

That's where Tesla's move to Texas comes in. If shareholders approve the reincorporation in Texas, legal challenges will be filed in that state and not Delaware.

However, Tesla shareholders could challenge the EV giant's move to Texas. If that happens that legal challenge would go through Delaware courts, according to Bloomberg.

Tesla Vote: Musk's Control Warning
Meanwhile, Musk has hinted throughout the year that he feels he needs more TSLA shares and voting power.

In January, Musk posted on X that he's "uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control." The chief executive added that he wants enough shares to be "influential but not so much that I can't be overturned."

"This is primarily about ensuring the right amount of voting influence at Tesla," Musk said. "At 15% or lower the for/against ratio to override me makes a taker by dubious interests too easy."

Musk currently has a nearly 13% stake in Tesla. Prior to selling TSLA shares to purchase Twitter, now X, for $44 billion in late 2022, Musk owned around 22% of Tesla.

Since issuing that warning, Tesla and Musk appear to be shifting toward an increased focus on autonomy, its Full Self-Driving (FSD) technology and its robotaxi program as EV demand has slowed.

Tesla Stock Performance And The Tesla Vote
TSLA shares fell 1.5% early Wednesday during premarket trade after advancing 6.6% to 186.54 on Tuesday. Tesla stock has sunk around 30% on the year.


Tesla reported first quarter earnings and revenue on April 23, and has rallied since then, finding support at its 50-day moving average, according to MarketSurge analysis. Tesla stock hit a 52-week low of 138.80 on April 22.

Adam Jonas, Morgan Stanley's high-profile autos analyst and a Tesla bull, wrote on Monday that "as investors question if the CEO's commitment is less or more, we believe Elon needs Tesla more than ever before."

"We would encourage investors to pay close attention to the June 13th shareholder vote," Jonas wrote Monday. "While impossible to predict the outcome, we expect the event could drive material volatility in the stock."

This comes after Jonas said on May 10 that the Tesla shareholder vote is significant to the "long-term strategic direction of the company."

Tesla stock ranks seventh in the 35-member IBD Auto Manufacturers industry group. The stock has a weak 39 Composite Rating out of a best-possible 99. Tesla stock also has a 19 Relative Strength Rating and a 62 EPS Rating.
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eastunder

06/05/24 1:24 PM

#15714 RE: eastunder #13620

Tesla Shareholder Says Musk 'Earned' Lucrative Pay Package as Automaker's CEO
11:13:06 AM ET, 06/05/2024 - MT Newswires

11:13 AM EDT, 06/05/2024 (MT Newswires) -- Tesla (TSLA) Chief Executive Elon Musk has secured the backing of a long-time investor in the electric vehicle company, with the head of Baron Capital urging other Tesla shareholders this week to support Musk's lucrative compensation package, contending, "He earned his pay."

The Tesla board of directors in 2018 approved a compensation package for Musk now valued at around $56 billion. A lawsuit filed in Delaware chancellery court later succeeded in throwing out the all-stock award as excessive, but Tesla shareholders are now slated to vote on a renewed version of the pay package at the company's annual meeting on June 13.

In an open letter to other Tesla shareholders dated June 4, Ron Baron, the CEO of Baron Capital, argued Musk is uniquely qualified for the stock award after guiding the company through a 10-fold increase in its market value over the past six years, rising to more than $550 billion from around $53.5 billion in 2018.

Baron also questioned whether the shareholder lawsuit opposing Musk's pay had the company's best interests in mind, noting the plaintiff owned only nine Tesla shares while lawyers in the case are seeking $5.6 billion in fees. "The voice of shareholders and legally binding contracts should not be permitted to be undone by a shareholder for hire and his strike suit lawyers," Baron wrote.
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eastunder

06/06/24 9:30 AM

#15716 RE: eastunder #13620

TESLA Shareholder Letter:

https://www.sec.gov/Archives/edgar/data/1318605/000110465924068792/tm2413800d20_defa14a.htm

June 5, 2024

Dear Fellow Owners of Tesla,

Over the past several weeks, we have seen a lot of speculation and discussion about the important matters we are bringing to you at next week’s Annual Stockholders’ Meeting. And I know that some of the information that has made its way into the public discourse about our company has been speculative, lacks context or is just plain wrong. At Tesla, we are accustomed to the naysayers.

We are entering the final days before the polls close on one of the most important votes in the history of our extraordinary company. As Board Chair, I want you to hear directly from me on why it is so important that you ratify Elon’s 2018 Performance Award and vote to move Tesla’s corporate domicile to Texas.

These votes are about fairness, respect and the future of Tesla.

Fairness and respect require that we honor the collective commitment we made to Elon — a commitment that was, and fundamentally still is, about retaining Elon’s attention and motivating him to focus on achieving astonishing growth for our company. Elon’s unique contributions have built Tesla from a company that was, in 2018, a loss-making, ambitious company with significant hurdles and challenges to overcome into what it is today — a company that is literally changing the world by driving so many critical initiatives that are making our planet more sustainable while at the same time delivering hundreds of billions of dollars of value to all of you who invested in Tesla’s dream. These contributions should be respected.

When we made our commitment to Elon in 2018 — a commitment that was overwhelmingly approved by approximately 73% of disinterested stockholders — it had one simple purpose: to keep Elon focused on Tesla and motivated to achieve the Company’s incomparable ambitions. It’s why we designed the Award to consist of a series of tranches that would vest upon the achievement of market capitalization and operational milestones. For Elon to realize any benefit of the award, he had to hit milestones that directly and substantially benefited the Company and our stockholders. And it did exactly what it was designed to do. In 2024, we now have the benefit of our bargain, with six years’ worth of Elon’s hard work, which has driven exceptional growth in the Company’s size and profitability and created over $735 billion in value1 for stockholders. Upholding our end of the bargain, then, by ratifying the decision we all made in 2018, is more important than ever. If Tesla is to retain Elon’s attention and motivate him to continue to devote his time, energy, ambition and vision to deliver comparable results in the future, we must stand by our deal.

This is obviously not about the money. We all know Elon is one of the wealthiest people on the planet, and he would remain so even if Tesla were to renege on the commitment we made in 2018. Elon is not a typical executive, and Tesla is not a typical company. So, the typical way in which companies compensate key executives is not going to drive results for Tesla. Motivating someone like Elon requires something different. This is one of the key reasons the Award also requires Elon to hold any shares he receives upon exercise of stock options for five years after he exercises the options — which can only serve to incentivize him to continue delivering value to Tesla and our stockholders.

What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time. Nor does he face any shortage of ideas and other places he can make an incredible difference in the world. We want those ideas, that energy and that time to be at Tesla, for the benefit of you, our owners. But that requires reciprocal respect.

We all made a commitment to Elon. Elon honored his commitment and produced tremendous value for our stockholders. Honoring our commitment to Elon demonstrates that we support his vision for Tesla and recognize his extraordinary accomplishments — this is what will motivate him to continue to create value for stockholders.

Fairness and respect and concern for the future of Tesla also underlie our decision to ask you to approve moving our company’s legal home to Texas, marrying our legal home to our operational home. Texas provides stockholders with substantially equivalent governance rights as Delaware, and is expected to provide more certainty for the innovative, big-ticket decisions that Tesla is known for. Being incorporated in Texas provides the best platform for Tesla to grow and innovate because we believe that Texas legislators and courts are in the best position to fairly develop and make decisions about corporate law that applies to Tesla, especially when our next big bet pays off beyond anyone’s wildest expectations.

Thank you for continued support of Tesla.

Sincerely,

Robyn Denholm
Chairperson of the Board of Directors
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eastunder

06/10/24 1:24 PM

#15748 RE: eastunder #13620

Elon Musk 'Not Cool' With Institutions But Claims He Has Retail Investor Support Ahead Of Meeting
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KIT NORTON12:16 PM ET 06/10/2024

https://www.investors.com/news/tesla-stock-elon-musk-retail-investor-support-shareholder-meeting/?src=A00220

Tesla (TSLA) Chief Executive Elon Musk claimed over the weekend that the vast majority of Tesla retail investors who have voted in the run-up to the annual shareholder meeting on Thursday, support two key measures, including reapproving his 2018 $56 billion compensation deal. TSLA shares angled lower Monday.

Musk posted to X Saturday that around "90% of retail shareholders" who have voted thus far support awarding him his pay package and reincorporating Tesla in Texas. Tesla has been incorporated in Delaware since 2003.

"The public sentiment is unequivocally supportive," Musk said Saturday.

Retail, or individual investors, currently own around 40% of Tesla shares. Institutional investors hold a much-larger share of Tesla stock than they did in 2018. Vanguard voted against the Musk pay package in 2018, while BlackRock and many others supported it.

The Tesla chief was writing on Saturday in response to news that Norway's sovereign wealth fund, which manages around $1.7 trillion in assets, has voted against Musk's 2018 pay deal. This is the latest institutional investor that has decided not to support measure ahead of Thursday's meeting.

"While we appreciate the significant value generated under Mr. Musk's leadership since the grant date in 2018, we remain concerned about the total size of the award, the structure given performance triggers, dilution, and lack of mitigation of key person risk," Norges Bank Investment Management, the official name of the fund, said in a statement on its website.

Norges Bank Investment Management owns nearly 1% of TSLA shares. The sovereign wealth fund added that its decision is "consistent with our vote on the same award in 2018."

"We will continue to seek constructive dialogue with Tesla on this and other topics," the fund added.

Musk responded Saturday saying "this is not cool."

Voting Ahead Of Shareholder Meeting
Since Tesla on April 17 requested shareholders ratify Musk's 2018 pay package despite a Delaware court voiding the plan earlier this year, the EV giant has been attempting to drum up votes of its retail investor base. Musk's compensation deal is currently valued at around $45 billion.

The vote comes after a Delaware judge ruled against the 2018 package, deciding that the package was excessive and unfair to Tesla investors. The judge criticized Musk's "extensive ties" with Tesla board members.

Tesla shareholders are also voting on whether to incorporate Tesla in Texas, moving from Delaware.

The vote on Musk's compensation requires a simple majority of votes, excluding those owned by Musk and his brother, Kimbal Musk. Meanwhile, the vote to reincorporate Tesla in Texas necessitates a majority of all shares outstanding, with any uncast votes counted as "no."

Voting has been open for the past several weeks. The Tesla board has recommended "yes" votes on both reincorporating in Texas and Musk's pay.

All Tesla stockholders can vote in Tesla's annual meeting with a deadline of 11:59 p.m. Eastern Standard Time on June 12. Registered stockholders may also vote at the virtual annual meeting.

In 2018, the Tesla board won approval for Musk's 2018 pay package with 73% of the vote.

Tesla Stock: Keeping Elon Musk 'Motivated'
Last week, Tesla Board Chair Robyn Denholm sent a letter to shareholders imploring investors to give Musk his 2018 pay deal.

"If Tesla is to retain Elon's attention and motivate him to continue to devote his time, energy, ambition and vision to deliver comparable results in the future, we must stand by our deal," Denholm wrote to shareholders Wednesday.

Denholm added that with Musk being one of the richest people in the world, the deal is "obviously not about the money."

"Motivating someone like Elon requires something different," she wrote. "This is one of the key reasons the award also requires Elon to hold any shares he receives upon exercise of stock options for five years after he exercises the options — which can only serve to incentivize him to continue delivering value to Tesla and our stockholders."

Musk And Tesla Control
CNBC reported on June 4 that in December Musk had Nvidia (NVDA) send AI processors, earmarked for the EV giant, instead to his social media enterprise X, formerly Twitter, which Musk purchased in October 2022.

Musk has hinted throughout the year he feels he needs more TSLA shares and voting power before making Tesla a "leader in AI & robotics."

In January, Musk posted on X that he's "uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control." The chief executive added that he wants enough shares to be "influential but not so much that I can't be overturned."

"This is primarily about ensuring the right amount of voting influence at Tesla," Musk said. "At 15% or lower the for/against ratio to override me makes a taker by dubious interests too easy."

Adam Jonas, Morgan Stanley's high-profile autos analyst and a Tesla bull, wrote on June 4 that if Musk does not achieve a 25% voting stake in the EV giant, "Tesla shareholders should be prepared for Tesla to significantly slow down/curtail its direct investment in sensitive/advanced AI efforts."

"While Tesla may still be in position to benefit indirectly from AI advancements, we believe that most of the adjacent AI efforts could be concentrated within non-Tesla entities where Elon Musk has control," Jonas added.

Musk currently has a nearly 13% stake in Tesla. Prior to selling TSLA shares to purchase Twitter, now X, for $44 billion in late 2022, Musk owned around 22% of Tesla.

The Legal Situation
Meanwhile, it's still unclear how the Delaware court could respond if the pay deal is reapproved.

The judge has scheduled a July 8 hearing to decide whether lawyers for the Tesla shareholder who brought the case against Tesla will receive $6 billion in TSLA shares as a legal fee.

After that hearing, Musk can request the Delaware Supreme Court to review the case. Unless the decision is reversed on appeal, the 2018 pay package will not be recognized under Delaware law.

That's where Tesla's move to Texas comes in. If shareholders approve the reincorporation in Texas, legal challenges will be filed in that state and not Delaware.

However, Tesla shareholders could challenge the EV giant's move to Texas. If that happens that legal challenge would go through Delaware courts, according to Bloomberg.

On May 28, the Delaware judge said she did not believe Tesla would circumvent her ruling on the case, according to media reports.

Tesla wrote in court documents that it was "rank speculation" that it would attempt to bring the case back up in Texas.

Tesla Stock Performance
TSLA shares fell 1% to 175.50 during market action on Monday. Last week, Tesla stock fell 0.3% to 177.48.

TSLA dropped 2.8% in May and have sunk around 30% so far this year.


However, Tesla has rallied since reporting first-quarter earnings and revenue on April 23, finding support just above its 50-day moving average, according to MarketSurge analysis. On April 22, Tesla stock hit a 52-week low of 138.80.

The EV giant will report second-quarter earnings in mid-July.
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eastunder

06/11/24 11:39 AM

#15750 RE: eastunder #13620

Tesla's Annual Meeting Is This Week. Is Tesla Stock A Buy Or A Sell?
https://www.investors.com/news/tesla-stock-a-buy-or-a-sell-in-2024/?src=A00220

KIT NORTON09:32 AM ET 06/11/2024

Tesla (TSLA) stock is angling lower, falling around 30% so far this year, but shares have rallied back following the EV giant's first-quarter earnings and revenue report on April 23. However, uncertainty remains with the June 13 annual meeting upcoming and Chief Executive Elon Musk appearing set on restructuring the company for the "next" growth phase.

Musk claimed over the weekend that the vast majority of Tesla retail investors who have voted in the run-up to the annual shareholder meeting on Thursday, support two key measures, including reapproving his 2018 $56 billion compensation deal.

Musk posted to X Saturday that around "90% of retail shareholders" who have voted thus far support awarding him his pay package and reincorporating Tesla in Texas. Tesla has been incorporated in Delaware since 2003.

"The public sentiment is unequivocally supportive," Musk said.

Retail, or individual investors, currently own around 40% of Tesla shares. Institutional investors hold a much-larger share of Tesla stock than they did in 2018. Vanguard voted against the Musk pay package in 2018, while BlackRock and many others supported it.

The Tesla chief was writing on Saturday in response to news that Norway's sovereign wealth fund, which manages around $1.7 trillion in assets, has voted against Musk's 2018 pay deal. This is the latest institutional investor that has decided not to support measure ahead of Thursday's meeting.

Norges Bank Investment Management owns nearly 1% of TSLA shares. The sovereign wealth fund said its decision is "consistent with our vote on the same award in 2018."

Tesla Stock: Keeping Elon Musk 'Motivated'

With shareholders currently voting in the run-up to the annual meeting, Tesla Board Chair Robyn Denholm sent a letter to shareholders last week imploring investors to give Musk his 2018 pay deal.

"If Tesla is to retain Elon's attention and motivate him to continue to devote his time, energy, ambition and vision to deliver comparable results in the future, we must stand by our deal," Denholm wrote to shareholders Wednesday.

Denholm added that with Musk being one of the richest people in the world, the deal is "obviously not about the money."

"Motivating someone like Elon requires something different," she wrote. "This is one of the key reasons the award also requires Elon to hold any shares he receives upon exercise of stock options for five years after he exercises the options — which can only serve to incentivize him to continue delivering value to Tesla and our stockholders."

Musk And Tesla Control

CNBC reported on June 4 that in December Musk had Nvidia (NVDA) send AI processors, earmarked for the EV giant, instead to his social media enterprise X, formerly Twitter, which Musk purchased in October 2022.

Musk has hinted throughout the year he feels he needs more TSLA shares and voting power before making Tesla a "leader in AI & robotics."

In January, Musk posted on X that he's "uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control." The chief executive added that he wants enough shares to be "influential but not so much that I can't be overturned."

"This is primarily about ensuring the right amount of voting influence at Tesla," Musk said. "At 15% or lower the for/against ratio to override me makes a taker by dubious interests too easy."

Adam Jonas, Morgan Stanley's high-profile autos analyst and a Tesla bull, wrote on June 4 that if Musk does not achieve a 25% voting stake in the EV giant, "Tesla shareholders should be prepared for Tesla to significantly slow down/curtail its direct investment in sensitive/advanced AI efforts."

"While Tesla may still be in position to benefit indirectly from AI advancements, we believe that most of the adjacent AI efforts could be concentrated within non-Tesla entities where Elon Musk has control," Jonas added.

Musk currently has a nearly 13% stake in Tesla. Prior to selling TSLA shares to purchase Twitter, now X, for $44 billion in late 2022, Musk owned around 22% of Tesla.

Tesla Stock Rallies Following Q1 Earnings

Tesla reported worse-than-expected first-quarter earnings and revenue late on April 23. Investors appeared not to care, sending TSLA shares jumping 12% the following day after Musk signaled "more affordable" new models are on the way. Musk also predicted 2024 vehicle deliveries would be higher, stressing Tesla's focus on full-self driving (FSD) during the earnings call.

Ahead of first-quarter earnings , TSLA shares had fallen more than 17% in April, hitting a 52-week low of 138.80 on April 22. Investor sentiment seemed downcast. However, Tesla stock began rallying immediately following Q1 results. As of June 11, Tesla stock is up around 20% since Q1 earnings.

With Musk focused on FSD and artificial intelligence, he is also shaking up Tesla, letting top executives go and announcing layoffs.

As analysts await the annual meeting vote results, updates around Tesla's strategy, new products and EV demand, the top question for investors is always, when is it a good time to buy or sell Tesla stock.

Tesla Vote: The Annual Shareholder Meeting Upcoming

Since Tesla on April 17 requested shareholders ratify Musk's 2018 pay package despite a Delaware court voiding the plan earlier this year, the EV giant has been attempting to drum up votes of its retail investor base. Musk's compensation deal is currently valued at around $45 billion.

The vote comes after a Delaware judge ruled against the 2018 package, deciding that the package was excessive and unfair to Tesla investors. The judge criticized Musk's "extensive ties" with Tesla board members.

Tesla shareholders are also voting on whether to move Tesla from Delaware to Texas. The EV giant has been incorporated in Delaware since 2003.

Tesla Vote: Long-Term Direction Implications

Voting has been open for the past few weeks. The Tesla board has recommended "yes" votes on both reincorporating in Texas and Musk's pay.

The vote on Musk's compensation requires a simple majority of votes, excluding those owned by Musk and his brother, Kimbal Musk. Meanwhile, the vote to reincorporate Tesla in Texas necessitates a majority of all shares outstanding, with any uncast votes counted as "no."

All Tesla stockholders can vote in Tesla's annual meeting with a deadline of 11:59 p.m. Eastern Standard Time on June 12. Registered stockholders may also vote at the virtual annual meeting.

Jonas believes that "as investors question if the CEO's commitment is less or more, we believe Elon needs Tesla more than ever before."

"We would encourage investors to pay close attention to the June 13th shareholder vote," Jonas said. "While impossible to predict the outcome, we expect the event could drive material volatility in the stock."

This comes after Jonas said on May 10 that the Tesla shareholder vote is significant to the "long-term strategic direction of the company."

Elon Musk, Layoffs And Superchargers

Meanwhile, Musk has decided to let two top executives go while also cutting the EV company's entire supercharger team, according to reports on April 30. However, since then he appears to have since started hiring back supercharger employees.

Musk took to the social media platform X in recent weeks claiming that Tesla will spend more than $500 million to expand its supercharger network and "create thousands" of new chargers in 2024.

"That's just on new sites and expansions, not counting operations costs, which are much higher," Musk said.

In the first quarter, Tesla supercharger stations totaled 6,249, up 26% vs. Q1 2023. Compared to Q4, supercharger stations grew 5%, adding 297. Meanwhile, supercharger connectors increased 27% to 57,579 in Q1, with 2,687 additional connectors compared to the fourth quarter.

In late April, Musk dismissed Rebecca Tinucci, senior director of Tesla's supercharger efforts, and Daniel Ho, head of the new vehicles program. The Tesla CEO also reportedly cut teams under Tinucci and Ho along with laying off its public policy employees and the entire staff working on Tesla superchargers.

Musk decided in April to lay off more than 10% of Tesla's global workforce, an effort to prepare for the "next phase of growth." Drew Baglino, who served as senior vice president of powertrain and energy, and Rohan Patel, vice president of public policy and business development, both departed Tesla around the time of those cuts.

Tesla Stock Declines In 2024

So far in 2024, Tesla stock has retreated about 30%, but has recently reclaimed its 10-week line and 50-day moving average. With 2023 in the rearview mirror, Wall Street consensus has 2024 Tesla earnings firmly below last year's level.

That signals another year of earnings declines for this growth stock. Analysts currently expect Tesla earnings per share of just $2.44 in 2024, according to FactSet. That would be a 22% decline vs. $3.12 in 2023.

Wall Street's 2024 EPS consensus estimates for Tesla have come down 36% since the end of 2023. Looking further out, analyst consensus has Tesla's EPS in 2025 coming in at $3.32, down from the $5.29 projection at the end of 2023, according to FactSet.

Tesla Stock: Q1 Earnings

Tesla reported its lowest quarterly EPS since 2021 on April 23. Q1 earnings fell 47% to 45 cents per share. Meanwhile, quarterly revenue totaled $21.3 billion, down 9% vs. Q1 2023. Analysts projected Q1 earnings falling more than 42% to 49 cents per share with sales declining nearly 5% to $22.22 billion.

The EV giant said its Q1 revenue decline was primarily due to a reduced average vehicle selling price and a drop in vehicle deliveries. Tesla added revenue was also hindered by issues with the Model 3 refresh rollout at its Fremont factory.

Total gross margins came in at 17.4%, down 199 basis points compared to Q1 2023. Meanwhile, Tesla ended the first quarter with a global vehicle inventory of 28 days, up 87% compared to Q1 2023.

Low Cost Vehicles Upcoming?

Going into earnings, there were reports Tesla had scrapped, or sidelined, plans to produce its next-generation Model 2, a $25,000 vehicle.

However, Tesla reported that it had updated its "future vehicle lineup to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025."

These new vehicles include "more affordable models," according to Tesla and will "utilize aspects of the next generation platform as well as aspects of our current platforms." Tesla said it could produce these new vehicles on the same manufacturing lines as its current vehicle lineup.

Musk added on the earnings call that the new model line will come early in 2025 "if not late this year."

Executives refused to go into further detail about the company's low-cost vehicle plans.

Wedbush Securities analyst Dan Ives, a longtime Tesla bull, wrote it appears that Tesla is going with a "Model 2.5" instead of a Model 2.

"While it's not a next generation Model 2 platform, we believe this is the right strategy and move at the right time," Ives said following earnings.

Tesla Stock: Musk Predicts Higher 2024 Vehicle Deliveries

Musk added on the earnings call that he expects 2024 vehicle deliveries to grow compared to 2023. The EV giant saw deliveries in 2023 hit a record 1.81 million. However, EV demand appears to be slowing this year.

Tesla reported in early April that global first-quarter deliveries totaled 386,810 while it produced 433,371 vehicles. The deliveries included a combined 369,783 Model 3 and Model Y units along with 17,027 "other" vehicles.

Tesla's 386,810 deliveries tally in Q1 undercut even the lowest estimates and marks the lowest quarterly deliveries since 344,000 in Q2 2022. Since then, analysts have been revising lower delivery estimates.

"Apart from further price cuts we believe full-year sales growth may require help from the market as well as seamless execution on cheaper new model introductions," Morgan Stanley analyst Adam Jonas said at the time.

Musk Optimistic About Q2

Meanwhile, Tesla ended the first quarter with a global vehicle inventory of 28 days, up 87% compared to Q1 2023. Auto gross profit margins, excluding regulatory credits, came in at 16.4%, above expectations of 15.9%.

Analysts predict global Q2 Tesla deliveries will total 445,000 vehicles, according to analyst consensus. That would be down 4.5% compared to last year's 466,140 deliveries. Tesla hit a record 484,507 deliveries in Q4 2023.

"We think Q2 will be a lot better," Musk said on the earnings call.

Next-Generation Platform, The Robotaxi And Ride Share

Musk and Tesla have been stepping up rhetoric about Full Self-Driving and AI. That messaging was on full display during the company's first-quarter earnings call.

Tesla recently recast full self-driving from FSD Beta to supervised FSD. The EV giant reported it would recognize deferred revenue of $281 million by the end of Q1, according to regulatory filings.

"The way to think of Tesla is almost entirely in terms of solving autonomy and being able to turn on that autonomy for a gigantic fleet," Musk said on the earnings call.

He later added that "if somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company."

Jensen Huang On Tesla

Nvidia Chief Executive Jensen Huang recently talked up Tesla's autonomous driving, claiming the EV giant is "far ahead" on self-driving vehicles and that all cars will eventually have autonomous abilities.

Tesla along with Elon Musk are major customers of Nvidia.

Nvidia on its Q1 earnings call mentioned myriad automotive customers working on AI self-driving, including several China EV players. Nvidia reported that revenue from automotive was $329 million, up 17% sequentially and up 11% year-on-year. The company added that this increase was primarily due to its "self-driving platforms."

Chief Financial Officer Colette Kress said on the earnings call that Nvidia "supported" Xiaomi to launch its first electric vehicle, the SU7 sedan, which is posing a serious threat to the Tesla Model 3 in China.

Kress added that its updated AI car computer software, Nvidia Drive Thor, is slated for production in vehicles in 2025. Customers include BYD (BYDDF), XPeng (XPEV) and others.

"We expect automotive to be our largest enterprise vertical within data center this year," Kress said.

Tesla Stock: AI Gold Rush

On April 28, Musk doubled down on X that Tesla will spend around $10 billion in 2024 in "combined training and inference AI, the latter being primarily in car."

"Any company not spending at this level, and doing so efficiently, cannot compete," Musk said.

The Tesla chief also confirmed on the Q1 earnings call that the company will be "showcasing" its robotaxi, or "cybercab," on Aug. 8 and that a low cost vehicle will be discussed more at that time.

Tesla's free cash flow also went negative to the tune of $2.5 billion in Q1, as Tesla spent $1 billion on "AI infrastructure."

The company also said it will "continue to increase" its AI infrastructure capacity in the "coming months" and that it is currently working on ride-hailing functionality that will be "available in the future."

This could potentially put Tesla in competition with Uber (UBER) and Lyft (LYFT).

Jonas believes Tesla's long-term goal is to offer autonomous ride-hailing vehicles. However, initially it will rely on "human-supervised FSD" from a combination of Tesla owners and a Tesla owned fleet, according to Jonas.

Are Hybrids Stealing The Future From EVs?

Tesla Momentum, Competition In China
Tesla ended 2023 on a high in China. However, the EV dynamic in China could quickly change. Musk has said China's EV companies are Tesla's main competition — with BYD, Nio (NIO), Li Auto (LI) and others all making inroads in the EV market.

BYD, already far above Tesla EV sales including plug-in hybrids (PHEVs), overtook its U.S. rival in global BEV deliveries in the fourth quarter of 2023. Warren Buffett-backed BYD has also decided to open a plant in Europe, moving onto Tesla's turf on another continent. BYD already is building plants in Thailand and Brazil.

However, Musk and Tesla appear to be changing it up. The EV giant recently won tentative approval for introducing Full Self-Driving in China after Elon Musk made a surprise visit to the country at the end of April.

Wedbush analyst Ives wrote that Musk's visit to China was a "home run." Ives added that the Tesla chief's ability to win FSD approval in China is a "watershed moment for the Tesla story."

In Q1, Tesla sold 132,420 vehicles in China, about 34% of its global deliveries.

China And Q2 Deliveries

Tesla insurance registrations in China totaled 15,200 for the week of May 27-June 2, up 16% from 13,100 the previous week, according to data reported by CnEVPost. Tesla also has stepped up incentives in China in recent weeks, including 0% interest offers.

Through nine weeks in Q2, Tesla China insurance registrations are up around 18% compared to the seasonally slow first quarter and down 4% vs. the same time frame in 2023.

Meanwhile, Tesla China deliveries in May came in at 72,573, down 6.6% vs. a year earlier and up 16.7% vs. April, according to figures released by the China Passenger Car Association (CPCA). The deliveries include both local sales in China and exports.

Through the end of May in 2024, Tesla China deliveries are down 7.1% compared to the first five months in 2023. Reuters reported in late May that Tesla planned to reduce Model Y production in China by around 20% between March and June.

BYD continues to dominate new energy vehicle (NEV) sales in China this year, with around 37% of the market share. Tesla ranks second with a market share of 8.8%, according to CPCA data.

Tesla Stock And Musk

There is never a dull moment for Tesla and Musk, with the two inextricably linked. After Musk took over Twitter on Oct. 28, 2022 purchasing the social media platform for $44 billion, some longtime Tesla stock bulls worried Musk's focus on Twitter, along with negative attention, would weigh down Tesla stock.

Musk appeared to lessen those fears when he hired Linda Yaccarino, NBCUniversal's advertising chief, as the new CEO for X Corp., formerly known as Twitter. The Tesla chief added Yaccarino will focus on business operations while he will work on product design and new technology.

At the time, Wedbush analyst Dan Ives wrote the news ends some of the "distraction risk around the Tesla story."

However, Tesla stock cut back below a key technical level early on Nov. 16, following a four-day, almost 18% rally. The pullback also came after comments made on X by Chief Executive Elon Musk in support of an antisemitic post.

On Feb. 3, the Wall Street Journal reported that some Tesla board members felt pressure to do drugs with Elon Musk. The in-depth report said some friends have urged him to go to rehab, and highlighted concerns that the board is not sufficiently independent from Musk. TSLA stock fell nearly 4% the first trading day after the story.

Tesla EVs In Regulators' Sights

Tesla also faces mounting pressure from regulators in 2024. A Reuters investigation found the EV giant has known of faulty suspension and steering parts across its model lineup going back at least seven years, but often blamed drivers when those parts failed.

Norway's traffic safety regulator in late 2023 confirmed it's been investigating suspension failures in Model S and X vehicles since September 2022. Sweden also announced on December 22, 2023 that it's also looking into similar issues.

This comes after a National Highway Traffic Safety Administration (NHTSA) investigation spurred Tesla to perform an over-the-air software "recall" on more than 2 million vehicles after determining that the Autopilot is prone to misuse after reviewing 1,000 accidents.

The NHTSA's Autopilot safety probe was recently closed. However it has opened a new investigation into whether the over-the-air update was sufficient.

Is Tesla Stock A Buy?

Tesla stock has retreated about 30% in 2024. However, since Tesla reported first quarter earnings and revenue on April 23, it has rallied and is finding support at its 50-day moving average, according to MarketSurge analysis. Tesla stock hit a 52-week low of 138.80 on April 22.

Tesla Stock Has Plunged In 2024, But At Least It's Cheaper, Right? Nope

TSLA shares surged nearly 7% on May 21 after PepsiCo (PEP) announced 50 Tesla Semi trucks in the coming months will operate out of its Fresno, Calif., distribution facility.

Tesla's annual shareholder meeting is on June 13 and the EV giant will report second-quarter earnings in mid-July.

Tesla stock ranks seventh in the 35-member IBD Auto Manufacturers industry group. The stock has a weak 47 Composite Rating out of a best-possible 99. Tesla stock also has a 15 Relative Strength Rating and a 62 EPS Rating.

Almost single-handedly, Elon Musk has turned the auto industry on its head. He has essentially forced it to get aboard the electric-vehicle train. It's a reason why Tesla has been a monster stock over much of its history, especially during its stratospheric run from mid-2019 to late 2021.

Tesla stock has had mammoth runs and could again. But it's not a buy right stock now.
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eastunder

06/12/24 9:08 AM

#15753 RE: eastunder #13620

Tesla investors are voting on Elon Musk's pay tomorrow. Here's what Wall Street is saying

https://qz.com/tesla-evs-elon-musk-pay-wall-street-analysts-stock-1851532962

Shareholders could determine the future of Tesla as a company — and Musk's place in it
By William Gavin

Tesla shareholders are set to finally reveal whether or not CEO Elon Musk’s $46 billion pay package will be reapproved on Thursday, some five months after it was struck down by a Delaware judge.

If investors re-approve the plan, it could pave the way for Musk to buy up to 304 million Tesla shares. The plan is currently valued at $46 billion, making it the biggest executive compensation plan in U.S. history.

Several institutional investors have made their votes known, both for and against Musk.

Norges Bank Investment Management, CalPERS, and funds represented by New York City Comptroller Brad Lander will vote against the compensation plan. Scottish Mortgage Investment Trust, Cathie Wood’s ARKInvest, and major investor and Tesla bull Ron Baron have all taken Musk’s side ahead of the meeting. According to Musk, 90% of retail shareholders that have already voted did so in his favor.

But what does that mean for Tesla stock, not to mention its future? Here’s what analysts have to say.

Wedbush Securities
Longtime Tesla bull and Wedbush Securities analyst Dan Ives expects Thursday to be a smashing success, predicting that Musk’s compensation will be “overwhelmingly approved,” according to a June 6 research note. He’s also calling for Tesla to move on from the pay battle, citing its negative effect on Tesla’s stock.

Ives has also laid out a playbook he thinks Musk would be wise to follow, beginning by taking advantage of the hype surrounding Tesla’s Aug. 8 robotaxi event. Ives is also calling for Musk to commit to artificial intelligence development at Tesla — rather than at his xAI startup — and officially say he will remain as Tesla’s CEO for the next three to five years.

Wedbush last week maintained its outperform rating on Tesla’s stock and issued a $275 per share price target.

JPMorgan Chase

JPMorgan Chase analysts led by Ryan Brinkman say they suspect that investors will approve the deal, although with less than the 73% approval rate it had in 2018 and “perhaps by a lesser margin than popularly imagined,” according to a June 11 research note.

Brinkman cites similarities between Thursday’s vote and the 2016 acquisition of SolarCity: Some investors voted in favor of the deal not because they supported it, but because they were afraid of the impact on Tesla stock if it was rejected.

Musk is tied to Tesla on an extreme level, which suggests a high risk, Brinkman added. If Musk’s pay is struck down, diluted share count may grow more than 10%, but a departure by Musk could wreck the stock price.

“Investors voting to disapprove the compensation plan would seem to be betting that Mr. Musk would then not leave Tesla (we are uncertain whether he would or would not),” Brinkman said.

J.P. Morgan on Tuesday maintained its underweight rating and issued a $115 per share price target on Tesla’s stock.

Morgan Stanley

Morgan Stanley analyst Adam Jonas has said that Musk’s compensation will likely be ratified, noting that surveyed clients expect a “yes” vote by a by a two-to-one ratio.

In a June 4 note to investors, Jonas warned shareholders that they should be prepared for the company to “significantly slow down/curtail its direct investment in sensitive/advanced AI efforts,” if the compensation does get rebuffed. Musk wants 25% voting control before Tesla makes further strides in artificial intelligence and robotics, especially as it advances its general-purpose Optimus robots and plans for self-driving cars.

“While Tesla may still be in position to benefit indirectly from AI advancements, we believe that most of the adjacent AI efforts could be concentrated within non-Tesla entities where Elon Musk has control,” Jonas added. That would likely put more of his attention and focus on xAI, his AI startup, which just landed a home for its unbuilt supercomputer.

Jonas rates Tesla stock at a “buy” and has issued a $115 per share price target.

Bernstein
On Monday, Bernstein analyst Toni Sacconaghi wrote that shareholders are unlikely to approve the pay package.

He pointed toward the recommendations from proxy advisory firms Glass Lewis and Institutional Shareholder Services, which have advised investors to vote against Musk’s compensation. Both firms cited the “excessive” size of the package. Both Glass Lewis and ISS voted against the deal in 2018, which passed with 73% support.

If Sacconaghi is right and investors vote against Musk’s pay, shares could slip more than 5%. Bernstein rates Tesla stock at “sell” and issued a $120 per share price target.
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eastunder

06/12/24 11:57 AM

#15761 RE: eastunder #13620

Cathie Wood Sets 5-Year Expectation For Tesla Stock At $2,600 Per Share
KIT NORTON10:53 AM ET 06/12/2024

https://www.investors.com/news/cathie-wood-tesla-stock-best-case-scenario/?src=A00220

Cathie Wood and her Ark Invest firm updated its Tesla (TSLA) stock price target to 2,600 by 2029 on Wednesday, the day before the EV company holds its annual shareholder meeting with a key vote on Chief Executive Elon Musk's $56 billion 2018 compensation package. TSLA shares advanced early Wednesday.

Ark Invest now has a Tesla stock price target of 2,600 per share in 2029. Its bear and bull cases suggesting TSLA could be valued between 2,000 and 3,100 per share in that year, according to the firm's Tesla stock report release Wednesday.

Wood has long been bullish on Tesla's autonomy push and robotaxi aims. Ark Invest estimates that around 90% of Tesla's enterprise value and earnings will be attributed to the robotaxi business in 2029.

Meanwhile, the firm projects that electric vehicles could be about quarter of total sales and around 10% of Tesla's earnings potential.

"We believe the robotaxi business will have much higher margins," Ark Invest wrote Wednesday.

Without a robotaxi network and business, Ark Invest says its TSLA price target would be around $350 per share, according to the report.

"We remain confident that the service will launch within the next five years," Ark Invest said.

In April 2023, Ark Invest projected a Tesla stock price of 2,000 by 2027, with Tesla's robotaxi contributing 67% of expected enterprise value and 64% of expected EBITDA in 2027.

As of June 12, Tesla stock sits first in Wood's ARK Innovation ETF (ARKK) with a 11.09% weight. TSLA shares are second in ARK Autonomous Tech (ARKQ) with a 10.76% weight. Meanwhile, Tesla stock is fourth in the ARK Next Generation Internet (ARKW) with a 7.93% weight.

Cathie Wood: Tesla Stock Performance
TSLA shares jumped 3.3% to 176.29 during early market action on Wednesday. Tesla stock dropped 1.8% to 170.66 on Tuesday, trading below its 50-day moving average for the first time since May 13.

Last week, Tesla stock fell 0.3% to 177.48 and shares are now down 4.5% in June.

TSLA declined 2.8% in May and have sunk around 30% so far this year.

However, Tesla has rallied since reporting first-quarter earnings and revenue on April 23, finding support just above its 50-day moving average, according to MarketSurge analysis. On April 22, Tesla stock hit a 52-week low of 138.80.

The EV giant holds its annual shareholder meeting Thursday. Tesla will then report second-quarter earnings in mid-July. The company is expected to unveil its "robotaxi" on August 8.

JPMorgan analysts on Tuesday said they expected Tesla to show off a robotaxi prototype, but actual robotaxi revenues could be years away. That followed discussions with Tesla investor relations team.

Tesla stock ranks seventh in the 35-member IBD Auto Manufacturers industry group. The stock has a weak 44 Composite Rating out of a best-possible 99. Shares have a 14 Relative Strength Rating and a 62 EPS Rating.
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eastunder

06/12/24 12:11 PM

#15763 RE: eastunder #13620

TSLA +9

Volume
Today's volume is on track to be heavier than usual, with 48,871,958 shares having traded so far. The On Balance Volume indicator (OBV) is bearish. The slope of the indicator is negative and suggests that there is a lack of buying interest.



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eastunder

06/13/24 8:39 AM

#15765 RE: eastunder #13620

Tesla Stock Surges After Elon Musk Teases Pay Vote Is Passing By 'Wide Margins'

KIT NORTON08:03 AM ET 06/13/2024

Tesla (TSLA) stock ran higher before the market opened Thursday after Chief Executive Elon Musk revealed late Wednesday that shareholders were poised to approve his 2018 $56 billion pay package and to reincorporate the EV giant in Texas, moving it from Delaware.

Tesla holds its annual shareholder meeting after the market closes on Thursday. Musk couldn't wait and posted to X late Wednesday that both resolutions are "currently passing by wide margins."

Musk's post was accompanied by two graphs, one for each vote, showing that both his compensation deal and the reincorporation questions had passed the "guaranteed win" level. The Tesla head's social media post came at 10:50 p.m. EST.

The final tallies for the votes will be announced at Tesla's annual shareholder meeting on Thursday after the market closes. The vote on Musk's compensation requires a simple majority of votes, excluding those owned by Musk and his brother, Kimbal Musk. Meanwhile, the vote to reincorporate Tesla in Texas necessitates a majority of all shares outstanding, with any uncast votes counted as "no."

In the run-up to the meeting, there has been concern that Musk would leave the EV company or make moves to shift Tesla efforts and resources to his other companies if he was not awarded his pay package, which is currently valued at around $45 billion.

The vote comes after a Delaware judge ruled against the 2018 package, deciding that the package was excessive and unfair to Tesla investors. The judge criticized Musk's "extensive ties" with Tesla board members.

Delaware courts could still block a reapproved package.

Tesla Stock Performance
TSLA shares surged more than 6% during premarket action on Thursday. Tesla stock jumped 3.9% to 177.29 on Wednesday, retaking its 50-day moving average after slipping below that key level Tuesday for the first time since May 13.


Last week, Tesla stock fell 0.3% to 177.48 and shares are now down 4.5% in June.

TSLA declined 2.8% in May. Ahead of Thursday trade, TSLA shares have sunk around 30% so far this year.

However, Tesla has rallied since reporting first-quarter earnings and revenue on April 23, finding support just above its 50-day moving average, according to MarketSurge analysis. On April 22, Tesla stock hit a 52-week low of 138.80.

Following Thursday's shareholder meeting, Tesla then reports second-quarter earnings in mid-July. The company will unveil its "robotaxi" on August 8.

On Wednesday, Cathie Wood and her Ark Invest firm updated its Tesla stock price target to 2,600 by 2029. Wood has long been bullish on Tesla's autonomy push and robotaxi aims.

Ark Invest estimates that around 90% of Tesla's enterprise value and earnings will be attributed to the robotaxi business in 2029.

Without a robotaxi network and business, Ark Invest says its TSLA price target would be around $350 per share, according to the report.

"We remain confident that the service will launch within the next five years," Ark Invest said.

JPMorgan analysts on Tuesday said they expect Tesla to show off a robotaxi prototype. However, actual robotaxi revenues could be years away. That followed discussions with Tesla investor relations team.

Tesla stock ranks seventh in the 35-member IBD Auto Manufacturers industry group. The stock has a weak 44 Composite Rating out of a best-possible 99. Shares have a 17 Relative Strength Rating and a 61 EPS Rating.
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eastunder

06/13/24 7:41 PM

#15766 RE: eastunder #13620

Tesla Shareholders Approve Elon Musk's $56 Billion Pay Deal, Reincorporation In Texas
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KIT NORTON06:40 PM ET 06/13/2024

Tesla (TSLA) announced on Thursday that shareholders voted in favor of giving Chief Executive Elon Musk his 2018 $56 billion pay package and reincorporating the EV giant in Texas, moving it from Delaware. TSLA shares edged up after the market closed.

Tesla announced the vote results during its annual shareholder meeting late Thursday. The vote on Musk's compensation required a simple majority of votes, excluding those owned by Musk and his brother, Kimbal Musk. Meanwhile, the vote to reincorporate Tesla in Texas necessitated a majority of all shares outstanding, with any uncast votes counted as "no."

In 2018, the Tesla board won approval for Musk's 2018 pay package with 73% of the vote.

In the run-up to Thursday's meeting, there was speculation Musk could leave the EV giant or shift efforts to his other companies if he was not awarded his pay package. The compensation deal is currently valued at around $45 billion.

The decision by shareholders to reapprove Musk's pay deal comes after a Delaware judge ruled against the 2018 package, deciding that the package was excessive and unfair to Tesla investors. The judge criticized Musk's "extensive ties" with Tesla board members.

Delaware courts could still block the reapproved package.

Tesla Stock: New Products Teased, Robot Ambitions

Meanwhile, Musk at the meeting Thursday touted Tesla's autonomous robotaxi efforts and its work on the humanoid robot, Optimus, as the main aspects of the EV giant's "new book."

"I am confident of the prediction that there will be more — like the ratio of humanoid robots to humans will be greater than 1:1," Musk said Thursday. "So that there will be more than 10 billion humanoid robots in the world, probably 20 or more, and Tesla is going to be by far the leader in that."

Musk also teased a photo Thursday signaling Tesla is working on three new products.

"We got some new products we're working on," Musk said Thursday. "Just wait."

Elon Musk Can't Wait

Late Wednesday, Musk posted to X that both resolutions, his pay package and reincorporation to Texas, were "currently passing by wide margins."

Musk's post was accompanied by two graphs, one for each vote, showing that both his compensation deal and the reincorporation questions had passed the "guaranteed win" level. The Tesla head's social media post came at 10:50 p.m. EST.

"It is a pop the champagne moment for Musk and Tesla shareholders," Wedbush Securities analyst Dan Ives, a longtime Tesla bull, wrote Thursday. "This removes a $20-$25 overhang on the stock in our opinion that has weighed on shares since the head scratching Delaware ruling set this Twilight Zone soap opera on earlier this year."

Tesla Stock Performance
TSLA shares edged up 0.1% late Thursday. Shares gained 2.9% to 182.47 during regular market action, hitting an intraday high of 191.08. Tesla stock jumped 3.9% on Wednesday, retaking its 50-day moving average after slipping below that key level Tuesday for the first time since May 13.

Last week, Tesla stock fell 0.3% to 177.48 and shares are now down 4.5% in June.

TSLA declined 2.8% in May. Ahead of Thursday trade, TSLA shares had sunk around 30% in 2024.

However, Tesla has rallied since reporting first-quarter earnings and revenue on April 23, finding support just above its 50-day moving average, according to MarketSurge analysis. On April 22, Tesla stock hit a 52-week low of 138.80.

The Robotaxi And Tesla Stock
Following Thursday's shareholder meeting, Tesla reports second-quarter earnings in mid-July. The company will unveil its "robotaxi" on August 8.

On Wednesday, Cathie Wood and her Ark Invest firm updated its Tesla stock price target to 2,600 by 2029. Wood has long been bullish on Tesla's autonomy push and robotaxi aims.

Wood's firm estimates that around 90% of Tesla's enterprise value and earnings will be attributed to the robotaxi business in 2029.

Without a robotaxi network and business, Ark Invest says its TSLA price target would be around $350 per share, according to the report.

"We remain confident that the service will launch within the next five years," Ark Invest said.

JPMorgan analysts on Tuesday said they expect Tesla to show off a robotaxi prototype. However, actual robotaxi revenues could be years away. That followed discussions with Tesla investor relations team.

Tesla stock ranks seventh in the 35-member IBD Auto Manufacturers industry group. The stock has a weak 44 Composite Rating out of a best-possible 99. Shares have a 17 Relative Strength Rating and a 61 EPS Rating.
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eastunder

07/01/24 9:52 AM

#15803 RE: eastunder #13620

TSLA cpps 205
Lurking right under the 200d

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eastunder

07/02/24 9:04 AM

#15813 RE: eastunder #13620

Tesla Q2 Delivery Expectations Coming Down, But The Key Number Might Be Energy Storage
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KIT NORTON07:08 AM ET 07/02/2024

https://www.investors.com/news/tesla-stock-deliveries-energy-storage/?src=A00220

Tesla (TSLA) reports second-quarter global vehicle deliveries on Tuesday with analysts expecting the total to come in under the current consensus. However, as EV demand has slowed in 2024 and AI fever dominates the market, some observers are more focused on Tesla's Q2 energy storage numbers. TSLA shares angled lower early Tuesday.

Analysts, as of Tuesday morning, predict global second-quarter Tesla deliveries will total 436,000 vehicles, according to FactSet. The consensus view at the end of May called for 448,000 deliveries. It has dropped 3% since then.

The current estimate would be down 6.5% compared to last year's 466,140 deliveries. But it would be a 13% increase compared to Q1.

Tesla hit a record 484,507 deliveries in Q4 2023. The company reported in early April that global first-quarter deliveries totaled 386,810, undercutting even the lowest estimates and marking the lowest quarterly deliveries since 344,000 in Q2 2022.

However, many analysts believe Tesla deliveries will come in below 436,000. On Friday, Wedbush Securities analyst Dan Ives, a longtime Tesla bull, wrote deliveries should approach that consensus number. He added that "whisper numbers" are in the 415,000-420,000 range.

Last week, New Street said it expects Tesla to deliver 425,000 units in Q2. Meanwhile, RBC Capital lowered its Tesla deliveries to 410,000 in Q2, down 23% from the firm's prior estimate of 533,000 vehicles.

Barclays also released a Q2 estimate of 415,000 units for Tesla last week. The firm said it believes this estimate is "somewhat in line with more muted buyside expectations" and suspects the final Tesla-compiled consensus estimates will end up lower.

Tesla stock fell 1.2% during premarket action on Tuesday. On Monday, TSLA shares jumped 6% to 209.86, reclaiming the 200-day moving average for the first time since January.

What About Tesla Energy?

Along with global delivery numbers, Tesla also reports Tuesday how much energy storage it deployed in the second quarter. The company deployed 4,053 megawatt-hours (MWh) in Q1, an all-time high.

Tesla currently offers solar panels and a solar roof, along with powerwalls for energy storage. On the commercial side, Tesla also offers the "megapack."

Adam Jonas, Morgan Stanley's high-profile auto analyst, wrote last week that as generative artificial intelligence (Gen AI) increases energy demand, Tesla's energy business could be "uniquely positioned to benefit from investment in the U.S. electrical grid accelerated by the AI boom."

Jonas currently values Tesla Energy at $36 per Tesla share, or around $130 billion.

The analyst projects Tesla Energy will generate around $7 billion in revenue this year, a 20% increase compared to 2023. Jonas also projects Tesla Energy margins will surpass the company's auto margins in 2024.

Chief Executive Elon Musk said during Tesla's June 13 shareholder meeting that the company is "tracking" toward 200%-300% year-over-year growth in energy storage and deployment of stationery pack.

Looking Ahead To Autonomy And Robotaxi

Meanwhile, Ives said Friday he is already focused on the second half of 2024 and is eying demand recovery, vehicle price stabilization and next month's "robotaxi" reveal.

"We believe the Aug. 8 robotaxi day will be a key historical moment for the Tesla story that we see as a near-term catalyst," Ives wrote.

"The rubber meets the road as the Street anticipates Aug. 8 as a key linchpin day for the Tesla story," he added. "While delivery numbers next week are very important the Street is starting to focus on the next growth driver at Tesla now forming with the worst of the demand doldrums in the rearview mirror."

Tesla Stock Performance

TSLA shares' advance Monday added to a 8.1% jump last week. Tesla stock has now broken out from a 191.08 handle buy point, according to MarketSurge chart analysis. The buy range extends to 200.63.

The stock hit resistance at the 40-week line on Friday, but closed higher. In June, shares gained more than 11%.

Tesla has rallied since reporting first-quarter earnings and revenue on April 23, finding support just above its 50-day moving average.

Tesla shareholders recently voted in favor of giving Musk his 2018 $56 billion pay package and reincorporating the EV giant in Texas, moving it from Delaware.

With the company's annual meeting in the rearview mirror, analysts are looking to Tesla's second-quarter earnings in mid-July. The company will also unveil its robotaxi on Aug. 8.

Tesla stock ranks sixth in the 35-member IBD Auto Manufacturers industry group. The stock has a 59 Composite Rating out of a best-possible 99. Shares have a 32 Relative Strength Rating and a 62 EPS Rating.
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eastunder

07/02/24 9:08 AM

#15814 RE: eastunder #13620

BRIEF-Tesla Produced About 411,000 Vehicles, Delivered About 444,000 Vehicles in Q2
09:04:28 AM ET, 07/02/2024 - Reuters
July 2 (Reuters) - Tesla Inc:

* TESLA INC: IN THE SECOND QUARTER, WE PRODUCED APPROXIMATELY 411,000 VEHICLES AND DELIVERED APPROXIMATELY 444,000 VEHICLES

* TESLA: Q2 MODEL 3/Y PRODUCTION 386,576 UNITS

* TESLA INC: Q2 MODEL 3/Y DELIVERIES 422,405 UNITS

* TESLA: Q2 OTHER MODELS PRODUCTION 24,255 UNITS

* TESLA: Q2 OTHER MODELS PRODUCTION 24,255 UNITS

* TESLA INC: Q2 MODEL OTHER MODELS DELIVERIES 21,551 UNITS Source text for Eikon: Further company coverage:
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eastunder

07/02/24 9:15 AM

#15815 RE: eastunder #13620

TSLA 213.23 close 7/1

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eastunder

07/11/24 1:00 PM

#15851 RE: eastunder #13620

Tesla delays robotaxi launch to October from August, Bloomberg News reports

Thu, Jul 11, 2024, 9:57 AM MDT1 min read

(Reuters) -Tesla is delaying the launch of robotaxi to October from August, Bloomberg News reported on Thursday, citing people familiar with the decision.

Shares of Tesla were down more than 6%, ending 11 straight sessions of gains that had pushed the stock up 44%.

Musk had announced the unveiling of robotaxi on Aug. 8, soon after an April 5 Reuters report said, citing sources, that Tesla had canceled its long-promised inexpensive car but would continue developing self-driving robotaxis on the same small-vehicle platform.

"While the knee jerk reaction will clearly be negative on a delay of August 8th based on this report that just hit, we believe the timing of robotaxis, partnerships, and the ultimate autonomous and AI driven technology does not change at all for our bullish Tesla thesis," Wedbush Securities analyst Dan Ives said.

Musk has been focusing on artificial intelligence, autonomous driving software, robotaxis and the humanoid robot named Optimus to combat a slowdown in EV sales, which generate more than 80% of Tesla's quarterly revenue.

He said in the company's first-quarter earnings conference call in April that Tesla would introduce "new models" by early 2025 using its current platforms and production lines.

During the call, he outlined ambitious visions for diversifying Tesla's business into artificial intelligence, humanoid robots, and operating a fleet of millions of autonomous vehicles - all based on software and hardware products the automaker has not yet fully developed.

A source told Reuters that the billionaire visited Beijing in April on an unannounced visit to discuss the rollout of its full self-driving software and other data-transfer permissions.
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eastunder

07/11/24 2:14 PM

#15852 RE: eastunder #13620

TSLA -20.68

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eastunder

07/23/24 3:40 PM

#15921 RE: eastunder #13620

Tesla shares could swing 10% either way after earnings, options show
13:35:32 PM ET, 07/23/2024 - Reuters
By Saqib Iqbal Ahmed

NEW YORK, July 23 (Reuters) - Traders in the options market expect Tesla shares to swing by nearly 10% in either direction by Friday, options data showed.

That is roughly in line with the stock's average move of about 10.1% after the company's last eight quarterly earnings reports, according to Trade Alert data.

With Tesla market cap at around $800 billion, such a move would make for a swing in the value of the company of about $80 billion.

The EV maker is likely to report on Tuesday that its second-quarter margin hit a more than five-year low, and CEO Elon Musk is expected to double down on the company's robotaxi plans and AI products.

Musk had announced earlier this year that Tesla would unveil its robotaxi on Aug. 8, but signaled last week the automaker would take more time to incorporate a design change following a media report that the launch was delayed to October.

Tesla options volume on Tuesday was relatively light with some 770,000 contracts changing hands by 12:20 p.m. EDT (1620 GMT), about half the pace of trading over the last month, according to Trade Alert data.

The stock, which has appreciated about 70% over the last three months as investors were encouraged by news the company would introduce "new models" by early 2025 using its current platforms and production lines.

Tesla shares have fallen after the company reported results in five of the last six quarters, according to Trade Alert data.

The shares were down 1.5% at $247.86 on Tuesday afternoon.

Separately, Alphabet, is also expected to report quarterly results later on Tuesday, with options traders braced for a stock price swing of 6.3% in either direction, according to Trade Alert data. The stock has moved about 6.7% on average on the day following quarterly results.

(Reporting by Saqib Iqbal Ahmed in New York Editing by Ira Iosebashvili and Matthew Lewis)
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eastunder

07/25/24 8:46 AM

#15929 RE: eastunder #13620

TSLA Analyst targets



HSBC Adjusts Price Target on Tesla to $118 From $130
MT Newswires11:52:12 AM ET, 07/24/2024

BofA Securities Adjusts Price Target on Tesla to $255 From $260, Maintains Buy Rating
MT Newswires10:23:58 AM ET, 07/24/2024

Barclays Adjusts Price Target on Tesla to $220 From $225
MT Newswires11:04:18 AM ET, 07/24/2024

New Street Downgrades Tesla to Neutral From Buy, Cuts Price Target to $225 From $235
MT Newswires08:07:16 AM ET, 07/24/2024

Cantor Fitzgerald Downgrades Tesla to Neutral From Overweight, Adjusts Price Target to $245 From $230
MT Newswires07:00:21 AM ET, 07/24/2024

Piper Sandler Adjusts Price Target on Tesla to $300 From $205, Maintains Overweight Rating
MT Newswires06:22:40 AM ET, 07/24/2024

BNP Paribas Exane Adjusts Price Target on Tesla to $103 from $105, Maintains Underperform Rating
MT Newswires05:49:29 AM ET, 07/24/2024

Citigroup Adjusts Price Target on Tesla to $258 from $274, Maintains Neutral Rating
MT Newswires05:34:09 AM ET, 07/24/2024
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eastunder

08/04/24 2:40 PM

#15961 RE: eastunder #13620

Elon Musk Just Told Tesla Investors to Sell Their Shares. Here's Why He Might Be Right.
Adam Spatacco, The Motley Fool
Sun, Aug 4, 2024, 5:15 AM MDT5 min read

Earnings season is back in full bloom, and per usual, big tech is providing investors with no shortage of reasons to pay attention.

Electric vehicle (EV) pioneer Tesla (NASDAQ: TSLA) got the party started by kicking off earnings season in late July. In a shock to probably no one, Tesla CEO Elon Musk shared his brutally honest thoughts about the company's future.

Let's take a look at some of Musk's polarizing remarks during the earnings call, and assess why he might be right and what it means for Tesla investors in the long run.

Elon said what?!
Although Tesla is best known for its fleet of EVs, Musk has made it abundantly clear on several occasions that he sees the company as an artificial intelligence (AI) and robotics business.

While there are many ways that Tesla can benefit from AI, the company's primary focus is developing superior autonomous-driving technology. These ambitions riled up investors and "smart money" analysts on Wall Street for quite some time.

However, after years of intense research and development and aggressive spending, Musk is now being increasingly peppered about the progress of Tesla's self-driving capabilities.

During Tesla's second-quarter earnings call, Musk didn't mince his words when he boldly said, "I recommend anyone who doesn't believe that Tesla would solve vehicle autonomy should not hold Tesla stock. They should sell their Tesla stock."

To me, this was Musk's version of drawing a line in the sand. If investors think the idea of autonomous driving carries too much execution risk or is merely something more akin to science fiction, they should move on, Musk told investors.

While anyone can appreciate the honesty here, the brashness of this kind of communication can be jarring. Think of it this way: Have you ever heard a CEO tell you not to invest?

Despite the curtness of Musk's words, I think investors were hit with a sobering dose of reality -- and it's high time to consider why Musk might actually be right.

Why he might be right?
Tesla's autonomous-driving software is referred to as full self-driving (FSD) by management. Right now, there are two key ways that FSD can help ignite further growth at Tesla.

First, if Tesla's FSD proves to be better than other autonomous-driving platforms available on the market, it could lead to an influx of new EV buyers.

The second opportunity for FSD lies in Tesla's vision to build a large-scale fleet of self-driving cars -- an initiative referred to as Robotaxi. If executed flawlessly, a fleet of self-driving vehicles could make shockwaves in markets such as ride-hailing, delivery and logistics, as well as rental car businesses.

However, there are also some inherent risks. For one thing, Tesla could be hurt if FSD does not scale exponentially. It's pretty difficult to quantify how many people actually want to buy a car that drives itself or would feel comfortable riding in one.

Secondly, the Robotaxi rollout hasn't been flawless so far. Earlier this year, Musk and his team told investors that a preview of Robotaxi would be revealed on Aug. 8. Unfortunately, this highly anticipated event is now delayed and only adds to speculation and skepticism of how good FSD really is and if it's ready for widespread commercialization and adoption.

A third risk that I see as it pertains to FSD is related to costs. Developing self-driving technology requires robust spending on engineering, quality-assurance testing, and more.

For now, Tesla is relying heavily on training its FSD models on Nvidia's graphics processing units (GPUs) -- an endeavor that is racking up billions in spend for Tesla at the moment.

For all of these reasons, if you can't fully buy into the notion of autonomous driving, its potential to scale, and Tesla's ability to execute, then Musk's advice to pass over Tesla stock might be absolutely correct.

The bottom line
As investors, it's important to zoom out and think about the big picture. Throughout history, many successful businesses branched out from their initial products and evolved into more sophisticated operations.

I think Tesla is very much at a point in its evolution that it no longer should be viewed as an automobile company. The company's transition from an EV and energy-storage business to a full-blown AI enterprise serves as the next frontier for Tesla.

To me, Musk's comments should not be seen as intimidating or a warning. Rather, he's making it clear that Tesla has an ambitious vision revolving around AI. If you're not aligned with that, holding the stock will likely just be frustrating for you.

As a longtime shareholder of Tesla myself, I've been sold on the vision around AI and robotics for some time. I appreciate Musk's candor on the earnings call, and see Tesla as a compelling AI opportunity that is both misunderstood and underappreciated.

However, before initiating a position or adding to one, I think it's worth taking some time to listen carefully to Musk's advice and his outline for the future of Tesla.
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eastunder

08/13/24 10:04 AM

#15999 RE: eastunder #13620

Is Tesla Stock A Buy Or A Sell As It Faces Resistance After 20% Decline Since Earnings?
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https://www.investors.com/news/tesla-stock-a-buy-or-a-sell-in-2024/?src=A00220

Tesla (TSLA) stock is angling lower, falling around 20% so far this year. However, since hitting 2024 highs in July, TSLA shares have declined 28% as the EV giant's second-quarter earnings sank more than 40% and Chief Executive Elon Musk pushed out the robotaxi reveal event to October.

On July 23, the electric-vehicle giant reported that Q2 earnings fell 43% to 52 cents per share. Meanwhile, quarterly revenue totaled $25.5 billion, up 2% vs. the year-earlier quarter. Analysts had predicted Tesla would report earnings of 61 cents a share with sales sliding to $24.54 billion, according to FactSet.

Tesla announced it "achieved record quarterly revenues despite a difficult operating environment." However, Tesla's gross margins fell 23 basis points to 18%. Auto gross margins, excluding regulatory credits and leases, came in at 15.1%, inline with analyst expectations, according to FactSet.

This comes after Musk on the Q1 earnings call said that "if somebody doesn't believe Tesla is going to solve autonomy" that they "should not be an investor in the company." The Tesla chief doubled down on this line on the second-quarter conference call.

Going into the Q2 earnings report, investor sentiment had been upbeat, with TSLA surging more than 25% in July after the EV maker announced a surprise second-quarter beat in vehicle deliveries.

However, Tesla stock is down around 16% in August and has declined more than 20% since Q2 earnings.

As analysts await updates around Tesla's strategy, new products and EV demand, the top question for investors is always, when is it a good time to buy or sell Tesla stock.

Musk Sets Date For Robotaxi

Tesla has been stepping up rhetoric about Full Self-Driving and AI That messaging has been on full display during the company's quarterly earnings in 2024.

Musk kicked off the Q2 earnings call by saying that executives "won't get too much into the product roadmap here because that is reserved for product announcement events."

Musk said on July 23 the robotaxi unveiling event had been pushed to Oct. 10. He previously confirmed the reveal would not be on the originally scheduled Aug. 8.

"I wanted to make some important changes that I think would improve the vehicle, the sort of the robotaxi, the main thing that we're going to show and we're also going to show off a couple of other things," Musk said.

"So moving it back, moving it back a few months, allowed us to improve the robotaxi, as well as add in a couple other things for the product unveil," he added.

This comes after on April 28, Musk said Tesla will spend around $10 billion in 2024 in "combined training and inference AI, the latter being primarily in car."

The company has said it plans to ramp up its AI infrastructure capacity in the "coming months" and that it is currently working on ride-hailing functionality that will be "available in the future."

This could potentially put Tesla in competition with Uber (UBER) and Lyft (LYFT).

Cathie Wood's Robotaxi Projections

Meanwhile, Cathie Wood and her Ark Invest firm on June 12 updated its Tesla stock price target to 2,600 by 2029. Wood has long been bullish on Tesla's autonomy push and robotaxi aims. Ark Invest estimates that around 90% of Tesla's enterprise value and earnings will be attributed to the robotaxi business in 2029.

Without a robotaxi network and business, Ark Invest says its TSLA price target would be around $350 per share, according to the report.

"We remain confident that the service will launch within the next five years," Ark Invest said.

Low Cost Vehicle Upcoming?

Tesla added last month that its plans for new vehicles, including affordable models, remain on track to start production in the first half of 2025. That suggests that mass production won't start until late 2025 at the earliest.

Going into Q2 2024, there were reports Tesla scrapped, or sidelined, plans to produce its next-generation Model 2, a $25,000 vehicle.

Meanwhile, Tesla also said in its July earnings report that its vehicle volume growth rate in 2024 "may be notably lower than the growth rate" last year. The EV giant added that growth in its energy storage business should outpace its automotive segment.

Musk in the Q1 earnings call said he expected 2024 vehicle deliveries to grow compared to 2023. The EV giant saw deliveries in 2023 hit a record 1.81 million.

Tesla Top Auto Pick

Following Q2 earnings, Morgan Stanley made Tesla its "top pick" in the U.S. auto space, replacing Ford Motor (F). It sees around 40% upside to TSLA stock and believes the EV giant is managing risk around its automobile business and "cornering the market" on zero emission vehicle credits.

Adam Jonas, Morgan Stanley's high-profile autos analyst and a Tesla bull, wrote that Tesla leads the U.S. auto stocks. Behind Tesla, Ford is ranked second and Ferrari (RACE) is third. EV startup Rivian (IBD) is ranked 11th on Morgan Stanley's list.

Jonas stressed that Tesla is shifting resources away from its auto segment as booming EV demand forecasts have dwindled.

"While Tesla is still making cars, we note the company is aggressively redeploying incremental resources, technology, people and capital away from the auto side of the house," Jonas wrote. "We found it notable that Ford management spent far more time on its 2Q conference call discussing EVs than Tesla did."

Musk And Tesla Control

Tesla shareholders also recently voted in favor of giving Musk his 2018 $56 billion pay package and reincorporating the company in Texas, moving it from Delaware.

Musk has hinted throughout the year he feels he needs more TSLA shares and voting power before making Tesla a "leader in AI & robotics."

In January, Musk posted on X that he's "uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control." The chief executive added that he wants enough shares to be "influential but not so much that I can't be overturned."

Musk currently has a nearly 13% stake in Tesla. Prior to selling TSLA shares to purchase Twitter, now X, for $44 billion in late 2022, Musk owned around 22% of Tesla.

Elon Musk, Layoffs And Superchargers

With Musk focused on FSD and artificial intelligence, he is also shaking up Tesla, letting top executives go and announcing layoffs.

Musk decided to let two top executives go while also cutting the EV company's entire supercharger team, according to reports on April 30.

In late April, Musk dismissed Rebecca Tinucci, senior director of Tesla's supercharger efforts, and Daniel Ho, head of the new vehicles program. The Tesla CEO also reportedly cut teams under Tinucci and Ho along with laying off its public policy employees and the entire staff working on Tesla superchargers.

However, since then he appears to have since started hiring back employees.

Musk also decided in April to lay off more than 10% of Tesla's global workforce, an effort to prepare for the "next phase of growth." Drew Baglino, who served as senior vice president of powertrain and energy, and Rohan Patel, vice president of public policy and business development, both departed Tesla around the time of those cuts.

Jensen Huang On Tesla

Nvidia Chief Executive Jensen Huang recently talked up Tesla's autonomous driving, claiming the EV giant is "far ahead" on self-driving vehicles and that all cars will eventually have autonomous abilities.

Tesla along with Elon Musk are major customers of Nvidia.

Nvidia on its Q1 earnings call mentioned myriad automotive customers working on AI self-driving, including several China EV players. Nvidia reported that revenue from automotive was $329 million, up 17% sequentially and up 11% year-on-year. The company added that this increase was primarily due to its "self-driving platforms."

Chief Financial Officer Colette Kress said on the earnings call that Nvidia "supported" Xiaomi to launch its first electric vehicle, the SU7 sedan, which is posing a serious threat to the Tesla Model 3 in China.

Kress added that its updated AI car computer software, Nvidia Drive Thor, is slated for production in vehicles in 2025. Customers include BYD (BYDDF), XPeng (XPEV) and others.

"We expect automotive to be our largest enterprise vertical within data center this year," Kress said.

EU China EV Tariffs

On June 12, the European Union announced it provisionally will impose additional tariffs of up to 38.1% on Chinese EVs starting in July, on top of the current 10% duties. Specifically, a 17.4% tariff will imposed on EV giant BYD, 20% on Geely, which owns Zeekr (ZK) and 38.1% on state-owned SAIC.

For other automakers, they'll receive an average duty of 21% if they cooperate and 38.1% if they do not.

Tesla, which exports the Model 3 and some Model Y vehicles from its Shanghai plant to Europe, also is affected.

Tesla EVs In Regulators' Sights

The EV giant also faces mounting pressure from regulators in 2024. A Reuters investigation found the EV giant has known of faulty suspension and steering parts across its model lineup going back at least seven years, but often blamed drivers when those parts failed.

Norway's traffic safety regulator in late 2023 confirmed it's been investigating suspension failures in Model S and X vehicles since September 2022. Sweden also announced on December 22, 2023 that it's also looking into similar issues.

This comes after a National Highway Traffic Safety Administration (NHTSA) investigation spurred Tesla to perform an over-the-air software "recall" on more than 2 million vehicles after determining that the Autopilot is prone to misuse after reviewing 1,000 accidents.

The NHTSA recently closed its Autopilot safety probe. However it has opened a new investigation into whether the over-the-air update was sufficient.

Is Tesla Stock A Buy?

Tesla stock has retreated about 20% in 2024 and is currently meeting resistance at its 200-day moving average, according to MarketSurge analysis.

Tesla Stock Has Plunged In 2024, But At Least It's Cheaper, Right? Nope

The stock hit a 2024 high of 271 on July 11 but has retreated since then and has booked five consecutive weekly declines.


Wall Street consensus also has 2024 Tesla earnings firmly below last year's level. That signals another year of earnings declines for this growth stock. Analysts currently expect Tesla earnings per share of just $2.24 in 2024, according to FactSet. That would be a 28% decline vs. $3.12 in 2023.

Looking further out, analyst consensus has Tesla's EPS in 2025 coming in at $3.17, down from the $5.29 projection at the end of 2023, according to FactSet.

Tesla stock ranks third in the 35-member IBD Auto Manufacturers industry group. The stock has a 52 Composite Rating out of a best-possible 99. Shares have a 44 Relative Strength Rating and a 58 EPS Rating.

Almost single-handedly, Elon Musk has turned the auto industry on its head. He has essentially forced it to get aboard the electric-vehicle train. Tesla has been a monster stock over much of its history, especially during its stratospheric run from mid-2019 to late 2021.

The stock has had mammoth runs and could again. But it's not a buy right now.
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eastunder

08/13/24 10:15 AM

#16000 RE: eastunder #13620

TSLA
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eastunder

08/22/24 1:19 PM

#16052 RE: eastunder #13620

Roadside Tesla Semi fire where temperatures reached 1,000 degrees draws in NTSB investigative team

Thu, Aug 22, 2024, 10:25 AM MDT2 min read

DETROIT (AP) — A crash and large fire along a California freeway involving an electric Tesla Semi has drawn the attention of federal safety investigators.

The U.S. National Transportation Safety Board said Thursday it's sending a team of investigators from the Office of Highway Safety mainly to look into fire risks posed by lithium-ion batteries.

The team will work with the California Highway Patrol to “examine the wreckage and gather details about the events leading up to the collision and the subsequent fire response,” the agency said in a statement.

The Los Angeles Times reported that the Tesla rig was traveling east on Interstate 80 around 3:15 a.m. Monday near Emigrant Gap, about 70 miles (113 kilometers) northeast of Sacramento, when it went off the road and collided with trees near the right shoulder.

The battery caught fire, spewing toxic fumes and reaching a temperature of 1,000 degrees, forcing firefighters to wait for it to burn out, the Highway Patrol told the newspaper. The Tesla driver walked away from the crash and was taken to a hospital, and the freeway was temporarily closed.

The battery burned into the late afternoon while firefighters tried to cool it down for cleanup, and the freeway didn't reopen until 7:20 p.m., authorities said.

A message was left Thursday seeking comment on the crash and fire from Tesla.

After an investigation that ended in 2021 the NTSB determined that high-voltage electric vehicle battery fires pose risks to first responders and that guidelines from manufacturers about how to deal with them were inadequate.

The agency, which has no enforcement powers and can only make recommendations, called for manufacturers to write vehicle-specific response guides for fighting battery fires and limiting chemical thermal runaway and reignition. The guidelines also should include information on how to safely store vehicles with damaged lithium-ion batteries, the agency said.

Tesla began delivering the electric Semis in December of 2022, more than three years after CEO Elon Musk said his company would start making the trucks. Musk has said the Semi has a range per charge of 500 miles (800 kilometers) when pulling an 82,000-pound (37,000-kilo) load.
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eastunder

08/26/24 2:30 PM

#16090 RE: eastunder #13620

UPDATE 4-Canada to impose 100% tariff on Chinese EVs, including Teslas
14:12:58 PM ET, 08/26/2024 - Reuters

Canada to impose 100% tariffs on Chinese-made EVs

Canada also announces 25% tariff on Chinese steel

PM Trudeau says more punitive measures possible

Tesla shares down over 3% after announcement

Announcement follows similar move from United States

(Adds Tesla context and Canadian government official comment in paragraphs 2-4, 9-11; analyst's comment in paragraphs 12-13)

By Promit Mukherjee and Akash Sriram

OTTAWA, Aug 26 (Reuters) - Canada, following the lead of the United States and European Union, said on Monday it would impose a 100% tariff on imports of Chinese electric vehicles and also announced a 25% tariff on imported steel and aluminum from China.

The duties apply to all EVs shipped from China, which would include those made by Tesla, a Canadian government official said.

Shares of the most valuable global automaker fell 3%.

Canadian imports of automobiles from China to its largest port, Vancouver, jumped 460% year over year in 2023, when Tesla started shipping Shanghai-made EVs to Canada.

Prime Minister Justin Trudeau said Ottawa was acting to counter what he called China's intentional, state-directed policy of over-capacity. "I think we all know that China is not playing by the same rules," he told reporters. The tariffs will be imposed starting Oct. 1.

"What is important about this is we're doing it in alignment and in parallel with other economies around the world," Trudeau said on the sidelines of a three-day closed-door cabinet meeting in Halifax, Nova Scotia.

The Chinese embassy in Ottawa was not immediately available for comment.

China is Canada's second-largest trading partner, although it trails far behind the United States.

Tesla does not disclose its Chinese exports to Canada. However, vehicle identification codes showed that the Model 3 compact sedan and Model Y crossover models were being exported from Shanghai to Canada.

"It is a 100% surtax on all Chinese-made EVs. If companies currently making vehicles in China choose to move their production to a different country, they would no longer be captured by this tariff," the government official said.

Tesla did not immediately respond to a request for comment.

US IMPORTS AN ALTERNATIVE

"In response to the tariffs, I would expect Tesla would shift its logistics and potentially export autos to Canada from the U.S.," said Seth Goldstein, equity strategist at Morningstar.

"The market is likely reacting to the tariffs and weighing a potential profit impact if Tesla has to export vehicles to Canada from its higher-cost production base in the U.S.," Goldstein said referring to the drop in shares.

The EU softened its stance on Tesla this month when it imposed tariffs on Chinese-imported EVs and imposed a rate of 9% for Tesla, lower than the up to 36.3% it had imposed on other Chinese EV imports.

FURTHER MEASURES

Ottawa will continue to work with the United States and other allies to ensure that customers around the world are not unfairly penalized by non-market practices of countries such as China, Trudeau said.

Ottawa is looking at further punitive measures such as tariffs on chips and solar cells, Trudeau said, without giving details. U.S. President Joe Biden in May announced a quadrupling of tariffs on Chinese electric vehicles to 100%, a doubling of duties on semiconductors and solar cells to 50%, as well as new 25% tariffs on lithium-ion batteries and other strategic goods including steel, to shield firms from Chinese excess production.

Ottawa is trying to position Canada as a critical part of the global EV supply chain and had come under pressure from domestic industry to act against China.

Canada has inked deals worth billions of dollars to attract top European automakers in all parts of the EV supply chain.

"We feel vindicated and motivated. Let's now get to the business of defending our market with the best of Canadian innovation and resolve," Flavio Volpe, president of the Automotive Parts Manufacturers' Association, said via email.

Implementation of the U.S. tariffs has been delayed until September and there is a possibility that planned duties might be softened this week. (Reporting by Promit Mukherjee; Editing by Bernadette Baum, Mark Porter, David Ljunggren, Alison Williams, Barbara Lewis and Rod Nickel)
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eastunder

09/28/24 10:29 AM

#16202 RE: eastunder #13620

TSLA cpps 260.46



271 Pivot 56 day cup w 33% depth
Tgt 331? (Ibd/MS) with 251 stop 232 cur 20 and 222 curr 50

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eastunder

09/28/24 11:27 AM

#16203 RE: eastunder #13620

Tesla Nears Breakout As Deliveries, Robotaxi Event Loom; BYD Races Through Buy Points
FacebookXLinkedInShare Licensing
ED CARSON08:10 AM ET 09/28/2024

https://www.investors.com/news/tesla-vs-byd-ev-sales-robotaxis/?src=A00220

Tesla (TSLA) and BYD (BYDDF) are the world's largest electric-vehicle makers.

In 2022, China EV and battery giant BYD's vehicle sales raced ahead of Tesla's and are now well more than twice as high. For all-battery electric vehicles (BEVs), BYD seized the crown in Q4 2023. However Tesla has regained that title in 2024.

Third-quarter sales are due for Tesla and BYD in early October.

Nvidia Earnings Are A Key Test For The Stock Market Rally. Here's What To Expect.
(Video on Link)

Tesla earnings have tumbled for several quarters, missing lowered views most of the time. CEO Elon Musk is placing more emphasis on robotaxis and robots, with a robotaxi event set for Oct. 10.

Tesla has relied on price cuts since late 2022 to offset weaker demand due to an aging lineup and rising competition. New "affordable" EVs may be coming, but they may be variants of existing models.

BYD has also cut prices, but margins remain high. Sales are rising thanks to a next-generation hybrid system and a variety of new and refreshed models. It recently opened its first full assembly plant outside of China, with several more overseas plants coming.

Tesla stock round-tripped a huge gain amid the Q2 earnings miss, but is running back toward a buy point. BYD stock has surged to a 52-week highs, clearing multiple buy points.

Tesla Vs. BYD Sales



Tesla delivered 443,956 EVs in Q2, beating lowered estimates. That was up sharply from Q1's 386,810 vehicles but down from Q2 2023's 466,140.

Along with delivery numbers, Tesla reported record energy storage deployed in Q2.

BYD announced record Q2 sales of 986,720, up 58% vs. a year earlier and 40% vs. Q1's 626,236 EVs. It's also double Tesla's Q2 total.

However, all Tesla vehicles are BEVs, while more than half of BYD sales are plug-in hybrids now. BYD delivered 426,039 passenger BEVs in Q2.

Tesla will report Q3 deliveries and energy storage figures on Oct. 2. BYD will release Q3 sales figures in early October.

BYD sold a record 373,083 vehicles in August, up 36% vs. a year earlier and 9% vs. July's 342,383.

Of the 370,854 passenger EVs, BYD sold 222,384 PHEVs, a sixth straight record high and up 73.1% vs. a year earlier and 5.5% vs. July. BEV sales came in at 148,470, up 1.95% vs. a year earlier and 14.2% vs. July.

BYD may still be production constrained as it races to meet demand, especially for its newer hybrids. Output was 366,973, below sales once again, with some evidence that official sales were below actual deliveries.

Overseas sales were 31,451, up 25.7% vs. a year earlier and 4.8% vs. July.

Commercial vehicles, including buses, delivery trucks and more, shot up to 2,229, up 643% vs. a year earlier and 40.7% vs. July.

So far in 2024, BYD has sold 2,328,449 vehicles. It looks set to easily pass the company's official target of 3.6 million EVs, and might reach an unofficial goal of four million.

Tesla, BYD Price Cuts

Tesla has slashed prices worldwide starting in late 2022. The EV giant has had to keep cutting prices or boost other incentives to prop up sales, slashing once-mighty profit margins and earnings. Deliveries have fallen vs. a year earlier so far in 2024.

Earlier in 2024, BYD slashed prices on most of its largely refreshed models, helping to revive sales.

Tesla Models

Tesla produces the Model 3, the Model Y, Model X and Model S, as well as the Semi and Cybertruck. The Model Y crossover accounts for the majority of sales.

A Model 3 revamp didn't provide much of a sales boost in China and Europe and has been lackluster in the U.S.

The Cybertruck has been produced in relatively low volume, in part due to quality issues, though output is improving. The Cybertruck, which probably is not profitable yet, is likely to be largely a North American vehicle.

Tesla has been selling the Foundation series Cybertruck, which starts at $100,000. Many more are waiting for regular variants at $80,000 or lower.

Tesla has delivered a few dozen Semi vehicles to PepsiCo (PEP). By May 2024, a few more customers, including Walmart (WMT), had taken possession of at least one Tesla Semi. But it's still unclear what the specs and price for the EV big rig are. Tesla recently said it expected mass production in 2026, but Semi timelines have often slipped by years.

Tesla Robotaxi Event

Meanwhile, Elon Musk has made a stronger push for robotaxis. A robotaxi event will take place on Oct. 10, at the Warner Bros. studio lot, vs. the initial date of Aug. 8.

The speculation is that Tesla will unveil a prototype with no steering wheel. But Tesla's Full Self-Driving, despite its name, remains a Level 2 system that requires a human driver. Without actual self-driving, an EV with no steering wheel isn't going on the roads.

So what might Tesla investors see? The robotaxi might drive around the studio, but not on roads. There may be more talk of a robotaxi ride-hailing network, but that will require robotaxis on the road.

Tesla also could show off its Optimus robot, or perhaps a prototype for the upcoming "affordable" EV.

Tesla EVs Near Term

The Model Y is expected to get a refresh in early 2025. Like the Model S, X and 3 updates — which didn't boost sales much — the "Juniper" Y likely will have cosmetic exterior changes.

The EV giant this year ditched long-touted plans for a "next-generation" EV and "revolutionary" manufacturing. Tesla now plans "affordable vehicles," using existing production lines. On the Q2 call, Musk said output would start in the first half of 2025, vs. late 2024 or early 2025 on the Q1 call. That would suggest mass production and deliveries would start in late 2025 or beyond.

The speculation is that Tesla will produce a lower-cost variant of the Model 3 or Model Y, perhaps a hatchback. It's unclear how a low-end Model 3 might fare outside the U.S., especially in China.

Tesla still hasn't even shown images for the upcoming vehicles.

BYD Expansion

BYD sells BEVs and PHEVs from around $10,000 to $150,000, with a wide range of models. It's refreshing much of its lineup, while adding several new models. That includes new models for its premium Denza, FangChengBao and Yangwang brands.

On Sept. 16, BYD disclosed that it had taken full control of Denza, buying the last 10% owned by Mercedes-Benz.

It's unveiling several new models with driver-assist systems, faster charging and improved hybrid systems.

The recently launched fifth-generation hybrid system offers touted 2,100 kilometers (1,305 miles) in combined battery-and-gas range.

The system is fueling booming orders.

Exports are a modest share of overall sales, but growing rapidly as logistics improve. They also carry better margins.

BYD's brand-new Thailand plant, its first full-assembly plant outside of China, has begun deliveries.

A Brazil factory is due to fully open in early 2025. The EV giant also has plans to build factories in Hungary, Indonesia, Turkey, Cambodia and Pakistan.

Turkey has a customs union with the EU. That, along with the Hungary plant, will be two factories for Europe. The Cambodia and Pakistan plants will likely be knock-down plants, putting together cars that are partially assembled elsewhere, as in a recently opened site in Uzbekistan.

The EV giant also is close to choosing a Mexico site and may set up in Vietnam as well.

BYD makes EV buses in California, but says it has no plans to enter the U.S. passenger EV market, amid import tariffs and political opposition. However, Trump has said he wants Chinese EV makers to build cars in the U.S.

Tesla Vs. BYD Batteries

Tesla traditionally has not mass produced its own batteries. For lithium-ion batteries, its joint venture partner Panasonic makes the cells and Tesla packages them. It also buys lithium-ion batteries from South Korea's LG. Tesla also buys a lot of lithium iron phosphate (LFP) batteries from China's CATL as well as some LFP batteries from BYD.

Tesla is working on 4680 batteries, first touted at the 2020 Battery Day. The 4680 batteries are standard lithium-ion chemistry, but the larger form factor offers the potential for various benefits and cost savings. Tesla's 4680 production has picked up in recent months.

Tesla has hinted at progress on the "dry cathode" problem, but it hasn't stated definitively that it's solved mass-production issues. It appears that the 4680 battery density is only now reaching that of traditional 2170 cells.

If nothing else, the focus on the 4680 batteries meant that Tesla did not focus on expanding production or sourcing of traditional 2170 cells that would comply with IRA tax credit rules.

Tesla is a major battery storage provider, though it gets its batteries from CATL.

Tesla vs. BYD BEV sales


BYD, meanwhile, is one of the world's largest EV battery makers. Its Blade batteries are a specialized form of lithium ferrous phosphate (LFP) or lithium iron phosphate batteries. BYD supplies third-party EV makers, including Xiaomi, XPeng's Mona sub-brand, Nio's Orvo brand and Toyota.

BYD supplies some EV batteries to Tesla Berlin.

BYD reportedly will unveil a next-generation Blade battery before year-end. That should revive flagging BEV sales in 2025.

BYD expects solid-state batteries for high-end models by 2027, but not fully reaching lower-end models until 2030-2032.

BYD is a major battery storage provider. It reportedly will be a supplier to Tesla's upcoming Shanghai Megapack factory.

Tesla's Other Businesses

Tesla has its own Supercharger network in its markets. That's especially important in the U.S. and countries like Australia, where third-party charging facilities are limited.

Tesla has deals with most automakers for access to Superchargers in the U.S. They'll also adopt the charger standard Tesla uses. Those deals, and some related charging subsidies, will boost revenue. But they reduce Tesla's charging moat in the U.S., which encouraged people to buy its EVs.

Tesla also has a solar installation business, but it's been struggling for years.

Tesla's self-driving ambitions continue. Musk is doubling down on FSD as the traditional EV business struggles. However, Tesla recently slashed the FSD prices to $8,000 from $12,000, shortly after halving the FSD subscription price to $99 a month from $199.

Tesla is now starting to offer a three-year bundle, with FSD, free Supercharging and more.

Tesla is moving toward offering FSD in China. But many automakers offer Level 2 systems there, or better.

Tesla also is pursuing a humanoid robot, Optimus, saying he expects it to be a multitrillion dollar business. On the Q2 earnings call, he said Optimus will be doing useful work in Tesla factories by late 2025, pushing back from his Q1 call's estimate of late 2024.

"We should be thought of as an AI or robotics company," Musk has told investors. "If somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor."

BYD's Other Businesses

BYD, notably, makes its own chips. That, along with in-house batteries and other vertical integrations, help make BYD a low-cost EV maker.

The EV and battery giant also has solar operations.

BYD is introducing Level 2 driver-assistance systems in its premium brand models as well as more mainstream BYD brand offerings. BYD is rolling out advanced ADAS for highways for its Denza line, with city streets coming later this year. Those services will likely be introduced in its higher-end BYD-brand EVs in the coming months.

BYD Co. is largely known for its BYD Auto operations. BYD Electronics, which accounts for an increasingly smaller share of overall revenue, is involved in mostly low-margin businesses such as smartphone components and assembly. But margins are improving there as well.

In December 2023, BYD Electronics acquired the mobility business of Jabil (JBL), increasing its exposure to Apple (AAPL).

EU Hikes Tariffs On Chinese EVs

The European Union has started imposing additional tariffs of up to 36.1% provisionally on Chinese BEVs starting July 5. That's on top of the current 10% duties.

Specifically, the EU will impose an extra 17% tariff on BYD's BEVs vs. 36.3% for state-owned SAIC. For other automakers, they'll receive an average duty of 21.3% if they cooperate and 36.3% if they do not.

Notably, the EU reportedly will only impose a 7.8% extra tariff on Tesla's China made-vehicles. Tesla Shanghai exports the Model 3 to the EU. The EV maker in July hiked Model 3 prices in Europe slightly, further weighing on sales there amid big declines in overall EV sales.

Meanwhile, the new duties don't apply to PHEVs, a big plus for BYD. Also, BYD's future Hungary and Turkey plants will let it sidestep EU tariffs altogether.

Tesla Earnings

In the second quarter, Tesla earnings plunged 43% to 52 cents a share. It was the fourth straight big year-over-year decline and once again missing analyst estimates. Revenue did rise 2% to $25.5 billion after falling in Q1. Tesla relied on $890 million in regulatory credit, a massive increase vs. Q1 and a year earlier.

Gross margins fell to 17.4% vs. 17.6% in Q4 and 19.3% a year earlier.

Q3 earnings are due Oct. 16.

Analysts, who have been slashing Tesla estimates since the end of 2022, now see 2024 EPS sliding 28% to $2.24 a share after skidding 23% to $3.12 in 2023.

BYD Earnings

BYD's Q2 earnings rose 32% to 43 cents a share, in line with views. Sales jumped 26% to $24.2 billion, but missed forecasts. Both improved from Q1's pace.

Gross margins fell to 18.7% from Q1's record 21.9%, but are still relatively high. BYD Auto margins are still well above 20%.

R&D and capital spending costs continue to climb rapidly.



Tesla stock is up 4.8% so far in 2024 as of Sept. 27, according to MarketSmith analysis.

After the Q2 earnings miss and Musk pushing back timelines, TSLA stock wiped out a huge 42% run.

But shares have rebounded strongly from Aug. 5 lows, forging a new base with a 271 buy point.

TSLA stock raced past an early entry and now are closing in on a breakout.

The upcoming Q3 deliveries, robotaxi event and Q3 earnings mean investor can expect big moves for TSLA stock.

BYD Stock Technicals

BYD stock is up 27.9% in 2024 through Sept. 27.

Shares broke out of a cup-with-handle base on Aug. 30, clearing the 30 buy point.

With China announcing several stimulus measures, BYD surged with other Chinese stocks.

On Sept. 24, shares cleared a 32 buy point from a too-low handle in a massive cup base, but is already extended from that. It's now nearing the official 36.27 buy point.

BYD, listed in Hong Kong and Shenzhen, trades over the counter in the U.S. Its U.S. shares often have mini-gaps as well as opening trade mini-spikes or tumbles before settling down.

Tesla Vs. BYD Market Cap
Tesla stock has a market cap of $832.1 billion as of Sept. 27. It's far above BYD's $96.6 billion.

Tesla Stock Vs. BYD Stock
BYD sells far more EVs than Tesla, though the latter still leads in BEVs. More broadly, BYD in many ways is the EV maker Tesla has claimed or aspired to be. BYD makes its own batteries and chips, and sells those batteries to third parties such as Tesla. Musk has talked about making a $25,000 Tesla; BYD makes EVs profitably at far below $25,000.

The Tesla Cybertruck is relatively new, but shipments are still low. Musk has said the vehicle would be a financial drain in 2024. It's unclear if yet-unseen upcoming "affordable" variants of aging vehicles will have a meaningful impact.

BYD has entered most of the world outside of the U.S. Its model lineup continues to expand dramatically, with big moves upscale and adding tech to its more-affordable offerings.

BYD's broad lineup and next-generation hybrid system means it's reaping the benefits of a global shift toward PHEVs over BEVs.

Tesla stock is racing higher toward a buy point. BYD has surged past multiple buy points and eyeing a long-term entry.

Keep your eyes on BYD and Tesla, as well as Tesla stock vs. BYD stock.
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eastunder

09/28/24 11:33 AM

#16204 RE: eastunder #13620

Tesla 'Mojo Is Back,' Tech Analyst Dan Ives Says Ahead Of Q3 Deliveries
by
Erica Kollmann, Benzinga Staff Writer
September 27, 2024 1:02 PM

https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41071876/mojo-is-back-at-tesla-says-tech-analyst-dan-ives-ahead-of-q3-deliveries

Zinger Key Points

Ives expects Tesla’s third-quarter deliveries to come in above the 462,000 estimate with “whisper numbers” in a range of 465,000 to 470,000.
Wedbush anticipates Tesla’s deliveries to hit 1.8 million in fiscal year 2024 on catalysts including Robotaxi, FSD ands AI updates.

Wall Street analysts and investors eagerly await Tesla, Inc.'sTSLA third-quarter delivery numbers expected next week. Wedbush tech analyst Dan Ives said Friday he expects the company's upcoming delivery figures to beat the Street's expectations.

The Details:

In a note titled "Expecting Solid Deliveries Next Week from Musk & Co…Mojo is Back at Tesla," Ives said he expects Tesla's third-quarter deliveries to come in above the 462,000 consensus estimate with "whisper numbers" in a range of 465,000 to 470,000.

Ives highlighted recent demand growth in China, with a few record months leading up to the fourth week in September. He also noted more favorable financing terms and pent-up demand in the region, leading to China deliveries being "the star of the show this quarter."

The Wedbush analyst said he believes Tesla's price cuts are "mostly in the rearview mirror," and gross margins will start to rebound as a result. Ives pointed to the upcoming Robotaxi event on Oct. 10 as a major catalyst, with updates around Tesla's FSD (Full Self-Driving) technology and AI across the Tesla ecosystem.

"Overall, we see positive catalysts ahead for Tesla and a compelling risk/reward stock with ‘We, Robot’ robotaxi event coming ahead and solid delivery momentum seen this quarter," Ives wrote.

The research firm anticipates Tesla's deliveries to hit 1.8 million in fiscal year 2024. Wedbush maintained its Outperform rating and $300 price target on Tesla stock.
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eastunder

10/02/24 9:12 AM

#16221 RE: eastunder #13620

TSLA

Tesla Third Quarter 2024 Production, Deliveries & Deployments
09:03:00 AM ET, 10/02/2024 - Business Wire

AUSTIN, Texas--(BUSINESS WIRE)--Oct. 2, 2024--In the third quarter, we produced approximately 470,000 vehicles, delivered approximately 463,000 vehicles and deployed 6.9 GWh of energy storage products.

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eastunder

10/11/24 9:24 AM

#16240 RE: eastunder #13620

TSLA cpps pre 220.10 (close 10/10 238.77) - 18.67 currently

Finline:215
200d 202
(175-247 CP)



__________________________________________________________________

Tesla Stock Poised To Pullback To 1-Month Low: What's Going On?

https://www.benzinga.com/markets/equities/24/10/41289653/tesla-stock-poised-to-pullback-to-1-month-low-whats-going-on

Tesla, Inc. TSLA shares pulled back sharply in premarket trading on Friday as the much-hyped Robotaxi unveil event, which went by the name “We, Robot” did not generate the kind of positive sentiment the market was hoping.

CEO Elon Musk demoed the Cybercab, Tesla’s completely autonomous vehicle, at the event held in Los Angeles. The company made available 20 units of the electric vehicle. One of the EVs drove itself to the stage with Musk seated within. The Cybercab with its butterfly wings that opened upwards left all event participants awestruck and it was shown to be cost-competitive to existing ride-hailing services.

The Cybercab will be priced under $30,000, Musk said.

The billionaire’s comments that the Cybercab will go into production only in 2026, or possibly in 2027 spooked investors.

Tesla said its unsupervised full self-driving would be released in Texas and California in 2025, and be expanded based on state regulatory parameters.

The company also provided updates to its Optimus humanoid robots, stating that it will be priced at $25K-$30K in the long term. Deepwater Asset Management’s Gene Munster said the robot could hit the price point only by 2030. The surprise launch of the event was the Robovan, which Munster sees materializing by 2028 at best.

With regulatory clearance for the unsupervised FSD still uncertain and most other product offerings not fructifying before 2027, investors may fret over the absence of any near-term catalysts that can drive the stock out of the current rut.
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eastunder

10/24/24 9:08 AM

#16256 RE: eastunder #13620

TSLA

Jefferies Adjusts Price Target on Tesla to $195 From $165
JPMorgan Adjusts Price Target on Tesla to $135 From $130
KGI Securities Upgrades Tesla to Outperform, Price Target is $276
Guggenheim Adjusts Price Target on Tesla to $156 From $153, Maintains Sell Rating
Cantor Fitzgerald Adjusts Price Target on Tesla to $255 From $245, Maintains Neutral Rating
Truist Adjusts Price Target on Tesla to $238 From $236, Maintains Hold Rating
Goldman Sachs Adjusts Price Target on Tesla to $250 From $230, Maintains Neutral Rating
Wells Fargo Adjusts Price Target on Tesla to $125 From $120, Maintains Underweight Rating
Fubon Securities Adjusts Price Target on Tesla to $330 From $282, Maintains Buy Rating
Canaccord Genuity Adjusts Price Target on Tesla to $278 From $254, Maintains Buy Rating
RBC Adjusts Price Target on Tesla to $249 From $236, Maintains Outperform Rating
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eastunder

10/24/24 9:21 AM

#16258 RE: eastunder #13620

TSLA Gap 218.72

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eastunder

10/24/24 1:06 PM

#16265 RE: eastunder #13620

TSLA C&H Pivot 264.86
length 74 days
depth 33 %
Handle 20%
(IBD)



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eastunder

10/25/24 12:57 PM

#16279 RE: eastunder #13620

TSLA c&h pivot 264.86 w/ 319-330 tgt (IBD)
cpps 268.15

L/H sets
139, (k's) 139,173,175, (j) 219 (jp)



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eastunder

10/26/24 2:17 PM

#16297 RE: eastunder #13620

TSLA cpps 269.19
218.72 GAP
Crgs 35 Curgs 35

CP: 100 25 25 50 / 50 0 25 25 25
NB 25 25 25 25 / 25 0 25 25 25
TP: 250 100 100 100 / 250 0 100 100 100




TSLA
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eastunder

11/06/24 1:20 PM

#16359 RE: eastunder #13620

TSLA +37.25 cpps 288.77 Pivot 264.87 tgt 330

139's +106% (h)
173's +65% (p2s)
288's +31% (repo)

Open Gaps
Direction Date range
up Nov-06-2024 255.28 to 275.62
up Oct-24-2024 218.72 to 242.65

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eastunder

11/18/24 5:15 PM

#16434 RE: eastunder #13620

TSLA + 18.02 SQ +6.49 and ROKU +5.16





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eastunder

12/06/24 1:00 PM

#16488 RE: eastunder #13620

TSLA cpps 374.80

Fubon Adjusts Price Target on Tesla to $472 From $330, Maintains Buy Rating
BofA Securities Adjusts Price Target on Tesla to $400 From $350, Keeps Buy Rating




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eastunder

12/10/24 10:16 AM

#16505 RE: eastunder #13620

TSLA cpps 406.46

+159% on aves / Core

1st B +133% (173's 8months) and 2nd B +192% (139's 7 months)

Nice return TESLA +53% from pivot in 32 days.

Also puts you back to 11/5/21 high (Split adjusted chart 3:1 8/25/22)



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eastunder

12/15/24 10:56 AM

#16523 RE: eastunder #13620

TSLA cpps 436.23
and new high

Tesla Stock Splits History
Split Date Split Multiple Detail
8/25/2022 3:1 3x 3 for 1 split
8/31/2020 5:1 5x 5 for 1 split

Open Gaps
Direction Date range
up Dec-05-2024 358.1 to 359.5
up Dec-02-2024 345.45 to 351.1501
up Nov-18-2024 324.6799 to 330.01
up Nov-06-2024 255.2799 to 275.62
up Oct-24-2024 218.72 to 242.65



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eastunder

02/04/25 11:12 AM

#16666 RE: eastunder #13620

Auto, Tech Supply Chains Likely to Weather Tariff Storm, Wedbush Says
10:58:54 AM ET, 02/03/2025 - MT Newswires

10:58 AM EST, 02/03/2025 (MT Newswires) -- The auto sector supply chain "can adjust to a near-term shock and weather the storm" related to the Trump Administration's recently announced tariffs on Mexico and Canada, Wedbush Securities said in a note Monday.

The firm noted the heavy ties of General Motors (GM), Ford Motor (F) and Stellantis (STLA) to much production in those countries, but said the impact on GM and Ford will be minimal if the tariffs remain for 30 to 60 days.

Wedbush said sell-offs will be an opportunity, especially on GM shares.

The brokerage added that Tesla's (TSLA) US supply chain is "much more insulated" than other carmakers, making it the "least exposed" to the overall tariffs.

On the tariffs on China, Wedbush said the impact on the tech sector "will ultimately be much more bark than bite."

The firm said supply chain disruptions for the chip ecosystem "will be very limited" in the short term as it relates to Nvidia (NVDA), Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing (TSM) and others, with "limited" retaliatory measures from China in the near-term.
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eastunder

02/25/25 10:00 AM

#16796 RE: eastunder #13620

TSLA cpps 311 ( TRK 255 and 218 gaps)



TRK 200d tag? Gaps? For reboots on CPw/G's and lows (139) S.H in all


Open Gaps
Direction Date range
up Nov-18-2024 324.6799 to 330.01 ✔️
up Nov-06-2024 255.28 to 275.62
up Oct-24-2024 218.72 to 242.65

also 147.26 gap on 4/23/24

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eastunder

03/10/25 2:52 PM

#16846 RE: eastunder #13620

UBS Slashes Tesla Price Target to $225 Amid Delivery Slowdown
Nauman khan

(and so it was ;)

Mon, March 10, 2025 at 7:39 AM MDT 1 min read

March 10 - UBS analysts revised their outlook for Tesla (TSLA, Financial), lowering the electric vehicle maker's price target from $259.00 to $225.00 while retaining a "Sell" rating.

The revision follows disappointing Q4 2024 results that forced UBS to reduce its Q1 2025 delivery forecast to 367,000 vehicles from an earlier estimate of 437,000.

UBS noted that the current run-rate appears slower, although a potential surge in deliveries toward the end of the quarter could emerge from increased promotional efforts.

Meanwhile, Tesla's revenue for the last 12 months stood at $97.69 billion and grew by a modest 0.95%, while UBS's Evidence Lab reported lower delivery times for the Model 3 and Model Y in key markets, reflecting softer demand. That said, a downward revision of Tesla's auto gross margin, excluding credits, to 10.3% compared to 13.6% in Q4 2024 and 16.4% in Q1 2024 was also prompted by this observation.

Based on input from 45 Wall Street analysts, the consensus for Tesla's mean target price is $338.49, with estimates ranging from a low of $24.86 (Seriously?? pah lease. why even bother with that shit?) to a high of $550. This average target implies an approximate upside of 28.87% from the current trading price of $262.67. In a separate assessment, GuruFocus estimates Tesla's one-year GF Value at $299.83, indicating a more conservative upside potential of about 14.15% from the current price.
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eastunder

03/12/25 3:00 PM

#16861 RE: eastunder #13620

J.P.Morgan cuts price target on Tesla shares, brokerage expects lower deliveries
12:43:06 PM ET, 03/12/2025 - Reuters

March 12 (Reuters) - J.P.Morgan cut its price target on Tesla's stock as the brokerage expects a second straight year of lower deliveries, with analysts also pointing to a change in sentiment toward the EV maker from existing customers and potential new buyers.

There have been reactions toward the brand such as protests at Tesla stores across the U.S. and around the world, sales boycotts, and jettisoning already purchased vehicles in the second-hand market, the brokerage said.

J.P.Morgan also cut its price target on the electric-vehicle maker's shares to $120 from $135. The median target for the stock is $370, according to LSEG data.

The brokerage said it expects Tesla to deliver about 1.78 million vehicles this year, down about 1% from 2024.

Recently, activists have staged so-called "Tesla Takedown" protests to express their displeasure at Elon Musk's involvement in significant reductions to the U.S. federal workforce and the cancellation of contracts funding global humanitarian efforts.

Musk, currently the world's wealthiest person, is leading the Trump administration's Department of Government Efficiency.

In a show of support for the EV maker's CEO Musk, U.S. President Donald Trump said on Tuesday that violence against Tesla dealerships will be labeled domestic terrorism.

Tesla's shares have slumped after hitting an all-time high in December, erasing most of the gains the stock made after Trump won the U.S. election in November.

The stock has gained 10% since Monday's 15.4% slump, its worst one-day drop in four-and-a-half years.
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eastunder

03/19/25 9:35 AM

#16873 RE: eastunder #13620

Violent attacks on Tesla dealerships spike as Musk takes prominent role in Trump White House
00:03:00 AM ET, 03/19/2025 - Associated Press

SEATTLE (AP) — Cybertrucks set ablaze. Bullets and Molotov cocktails aimed at Tesla showrooms.

Attacks on property carrying the logo of Elon Musk's electric-car company are cropping up across the U.S. and overseas. While no injuries have been reported, Tesla showrooms, vehicle lots, charging stations and privately owned cars have been targeted.

There's been a clear uptick since President Donald Trump took office and empowered Musk to oversee a new Department of Government Efficiency that's slashing government spending. Experts on domestic extremism say it's impossible to know yet if the spate of incidents will balloon into a long-term pattern.

In Trump’s first term, his properties in New York, Washington and elsewhere became a natural place for protest. In the early days of his second term, Tesla is filling that role.

“Tesla is an easy target,” said Randy Blazak, a sociologist who studies political violence. “They’re rolling down our streets. They have dealerships in our neighborhoods.”

Musk critics have organized dozens of peaceful demonstrations at Tesla dealerships and factories across North America and Europe. Some Tesla owners, including a U.S. senator who feuded with Musk, have vowed to sell their vehicles.

But the attacks are keeping law enforcement busy.

Prosecutors in Colorado charged a woman last month in connection with attacks on Tesla dealerships, including Molotov cocktails thrown at vehicles and the words “Nazi cars” spray-painted on a building.

And federal agents in South Carolina last week arrested a man they say set fire to Tesla charging stations near Charleston. An agent from the Bureau of Alcohol, Tobacco, Firearms and Explosives wrote in an affidavit that authorities found writings critical of the government and DOGE in his bedroom and wallet.

“The statement made mention of sending a message based on these beliefs,” the agent wrote.

Some of the most prominent incidents have been reported in left-leaning cities in the Pacific Northwest, like Portland, Oregon, and Seattle, where anti-Trump and anti-Musk sentiment runs high.

An Oregon man faces charges after allegedly throwing several Molotov cocktails at a Tesla store in Salem, then returning another day and shooting out windows. In the Portland suburb of Tigard, more than a dozen bullets were fired at a Tesla showroom last week, damaging vehicles and windows, the second time in a week that the store was targeted.

Four Cybertrucks were set on fire in a Tesla lot in Seattle earlier this month. On Friday, witnesses reported a man poured gasoline on an unoccupied Tesla Model S and started a fire on a Seattle street.

In Las Vegas, several Tesla vehicles were set ablaze early Tuesday outside a Tesla service center where the word “resist” was also painted in red across the building’s front doors. Authorities said at least one person threw Molotov cocktails — crude bombs filled with gasoline or another flammable liquid — and fired several rounds from a weapon into the vehicles.

“Was this terrorism? Was it something else? It certainly has some of the hallmarks that we might think — the writing on the wall, potential political agenda, an act of violence,” Spencer Evans, the special agent in charge of the Las Vegas FBI office, said at a news conference. “None of those factors are lost on us.”

Tesla becomes a target for the left
Tesla was once the darling of the left. Helped to viability by a $465 million federal loan during the Obama administration, the company popularized electric vehicles and proved, despite their early reputation, that they didn’t have to be small, stodgy, underpowered and limited in range.

More recently, though, Musk has allied himself with the right. He bought the social network Twitter, renamed it X and erased restrictions that had infuriated conservatives. He spent an estimated $250 million to boost Trump’s 2024 Republican campaign, becoming by far his biggest benefactor.

Musk continues to run Tesla — as well as X and the rocket manufacturer SpaceX — while also serving as Trump’s adviser.

Tesla stock doubled in value in the weeks after Trump’s election but has since shed all those gains.

Trump gave a boost to the company when he turned the White House driveway into an electric-vehicle showroom. He promoted the vehicles and said he would purchase an $80,000 Model S, eschewing his fierce past criticism of electric vehicles.

Tesla didn't respond to a request for comment. Musk briefly addressed the vandalism Monday during an appearance on Sen. Ted Cruz’s podcast, saying “at least some of it is organized and paid for” by “left-wing organizations in America, funded by left-wing billionaires, essentially.”

“This level of violence is insane and deeply wrong,” Musk wrote Tuesday on X, sharing a video of burning Teslas in Las Vegas. “Tesla just makes electric cars and has done nothing to deserve these evil attacks.”

The progressive group Indivisible, which published a guide for supporters to organize “Musk Or Us” protests around the country, said in a statement that all of its guidance is publicly available and “it explicitly encourages peaceful protest and condemns any acts of violence or vandalism.”

Some Tesla owners have resorted to cheeky bumper stickers to distance themselves from their vehicle’s new stigma and perhaps deter would-be vandals. They say things like “I bought this before we knew Elon was crazy” or “I just wanted an electric car. Sorry guys.”

Prices for used Cybertrucks, Tesla’s most distinctive product, have dropped nearly 8% since Trump took office, according to CarGurus, which aggregates used-car vehicle listings. The market as a whole remained steady over the period.

The White House vows a crackdown
The White House has thrown its weight behind Musk, the highest-profile member of Trump's administration and a key donor to committees promoting Trump's political interests. Trump has said Tesla vandalism amounts to “domestic terror,” and Trump has threatened retribution, warning that those who target the company are “going to go through hell.”

Attorney General Pam Bondi said she’d opened an investigation “to see how is this being funded, who is behind this.”

“If you’re going to touch a Tesla, go to a dealership, do anything, you better watch out because we’re coming after you,” Bondi said Friday on Fox Business Network. In a statement Tuesday, she vowed to “continue investigations that impose severe consequences,” including for “those operating behind the scenes to coordinate and fund these crimes.”

Colin Clarke, a senior research fellow at the Soufan Center, said left-wing political violence tends to target property rather than people. He views the rise of neo-Nazi groups as a bigger security threat at this point.

“It’s not the type of act that I would prioritize,” Clarke said. “Not right now compared to all the other threats that are out there.”

Theresa Ramsdell is the president of the Tesla Owners of Washington state, a club for Tesla enthusiasts, and she and her husband own three of them.

“Hate on Elon and Trump all you want — that’s fine and dandy, it’s your choice,” she said. “It doesn’t justify ruining somebody’s property, vandalizing it, destroying it, setting it on fire. There’s other ways to get your voice heard that’s more effective.”

Someone recently slapped a “no Elon” sticker on the tailgate of her Cybertruck, but she said she doesn’t intend to stop driving her Teslas. Other club members have taken a similar view, she said.

“I love my car. It’s the safest car,” Ramsdell said. “I’m not going to let somebody else judge me for the car I drive.”
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eastunder

03/26/25 9:39 AM

#16896 RE: eastunder #13620

TSLA 249.52 and 143.33 gaps

Open Gaps
Direction Date range
up Mar-24-2025 249.52 to 256.33



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eastunder

03/29/25 8:53 AM

#16919 RE: eastunder #13620

Elon Musk's xAI acquires X, creating a $113 billion powerhouse
Frank DeMatteo
Fri, March 28, 2025 at 4:49 PM MDT
https://finance.yahoo.com/news/elon-musks-xai-acquires-x-224942433.html

Investing.com -- Elon Musk's AI firm xAI announced the acquisition of his social media platform X (formerly Twitter) in a significant all-stock deal. The transaction values X at $33 billion, excluding X's $12 billion debt, and xAI at $80 billion - for a combined $113 billion.

In 2022, Musk acquired Twitter for $44 billion.

This move marks a major step for xAI, which, since its inception two years ago, has quickly risen to prominence as one of the top AI labs globally.

xAI has been recognized for its rapid development of AI models and construction of data centers, both in terms of speed and scale. Meanwhile, X has established itself as a leading digital platform, boasting over 600 million active users who rely on it as a real-time source of information. Over the past two years, X has undergone a transformation, emerging as an exceptionally efficient company poised for scalable growth.

The merger of xAI and X is poised to create a powerhouse in the tech industry. Musk emphasized that the futures of both companies are deeply connected. With the official consolidation of their resources, including data, models, computing power, distribution networks, and talent, the combined entity is expected to leverage xAI's cutting-edge AI expertise alongside X's extensive user base.

Musk stated that this integration is set to deliver smarter and more impactful experiences to billions of people worldwide. He stressed that the combined company would remain committed to its fundamental mission of pursuing truth and fostering the advancement of knowledge. The goal is to create a platform that not only mirrors the world but also actively contributes to human progress.

In his announcement, Musk, also CEO of Tesla (NASDAQ:TSLA), expressed gratitude for the unwavering commitment of the teams at both xAI and X, which has been instrumental in reaching this milestone. He concluded by thanking all partners and supporters for their ongoing collaboration, signaling optimism for the future following this landmark acquisition.
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eastunder

03/29/25 9:10 AM

#16920 RE: eastunder #13620

Tesla Vs. BYD: Tesla Deliveries Due Amid Brand 'Destruction'; Earnings Jump For Fast-Charging Rival
FacebookXLinkedInShare Licensing
ED CARSON08:36 AM ET 03/29/2025

https://www.investors.com/news/tesla-vs-byd-ev-sales-robotaxis/?src=A00220

Tesla (TSLA) and BYD (BYDDF) are the world's largest electric-vehicle makers.

In 2022, China EV and battery giant BYD's vehicle sales raced ahead of Tesla's and are now well more than twice as high, three times as much in Q4 2024. For all-battery electric vehicles (BEVs), BYD seized the crown in Q4, though Tesla led by a hair for 2024.

Both Tesla and BYD set quarterly delivery records in Q4, but Tesla's annual deliveries fell for the first time. Tesla earnings came in light, even with a bitcoin boost. BYD reported accelerating earnings growth. Both report Q1 deliveries in early April.

Tesla stock skyrocketed in late 2024 as investors bet on Full Self-Driving, robotics and AI, with hopes that the incoming Trump administration would greatly favor Elon Musk. But Tesla stock has sold off sharply in 2025 amid concerns that self-driving deadlines will be missed again and fears that Musk's political role is further damaging the brand. Analysts are slashing delivery and earnings estimates.

Deliveries for the new Model Y have begun. But a new "affordable" EV may simply be a stripped-down Model Y.

Meanwhile, BYD recently hit at record highs amid its move to roll autonomous-driving tech across its lineup, followed by unveiling superfast charging technology, and strong Q4 earnings. Sales are off to a strong start in 2025.

Tesla Vs. BYD Sales

Tesla delivered 495,570 EVsTesla vs. BYD, total EV sales in Q4, up from 462,890 in Q3 and besting its prior record of 484,507 in Q4 2023.



That was below estimates for about 506,000 and implied company guidance of 515,000 or more, despite a slew of discounts and incentives late in the year.

Tesla relied even more in Q4 on China sales, which tend to be lower margin.

Cybertruck deliveries appeared to slow in Q4, even with the shift to the non-Foundation series that cut the starting price to $79,990. On Jan. 1, the dual-motor Cybertruck became eligible for the $7,500 tax credit. That could boost demand, at least in the short run. But Tesla is likely losing money on the new EV at the lower price.

For the full year, Tesla delivered 1,789,226 EVs, down 1% from 2023's 1,808,591. The EV giant, on the Q3 earnings call, had predicted slight delivery growth for the full year.

Tesla also deployed 11 gigawatt-hours of energy storage products in Q4, a new record. It deployed 31.4 GWh for the full year.

Meanwhile, BYD sold a record 1,524,270 vehicles in Q4, up 61% vs. a year earlier and more than triple Tesla's total. Full-year sales jumped 41% to 4,272,145.

Plug-in hybrids led the way in 2024, thanks to BYD's new, longer-range hybrids. But passenger BEV sales ran to 595,413 in Q4, roughly 100,000 more than Tesla. For the year, BYD came in with 1,764,992 BEVs, just shy of Tesla's total.

In January, BYD sold 300,358 EVs in January, up 49% vs. a year earlier but down 42% vs. December's record. February sales of 322,846 swelled nearly 164% vs. a year earlier and 7.4% above January's pace. China auto sales are sluggish to start the year, due to Lunar New Year holidays, but pick up again in the spring.

It's possible Tesla will regain the BEV title in Q1. However, Tesla has started 2025 with weak sales.

BYD and Tesla will release Q1 deliveries in early April.

New Tesla Model Y

Tesla began deliveries of the new Model Y in China on Feb. 26, with the U.S. and Europe following in early March.

The new MY has a clearly different front and back, with a light bar similar to that of the Cybertruck, as well as many other EVs.

A Model 3 revamp in late 2023, like the Model S and Model Y updates, didn't provide much of a sales boost. Those refreshes had some real internal improvements but barely perceptible exterior changes.

The "Juniper" Model Y has a slightly higher price in China, though Tesla is already offering cheap financing for the most-popular variant. A special-edition Model Y Launch series carries a big premium in Europe and especially the U.S., where FSD will be included.

But wait times for the new Model Y are low in the U.S. and China.

In Q2, U.S. sales may pick up with less-expensive variants.

Tesla's 'Affordable' EV

The EV giant in 2024 ditched long-touted plans for a "next-generation" EV and "revolutionary" manufacturing. Tesla now plans "affordable vehicles," using existing production lines.

Recent reports suggest that the first "affordable" EV will be a stripped-down Model Y, perhaps slightly smaller. It would likely have fabric interiors, no second-row screen and other cost savings. Bulls had hoped for at least a new form factor, such as a hatchback. The reports suggested the cheaper Model Y could come in late 2025 or perhaps 2026.

Tesla has said it expected output of the "affordable" vehicle starting by midyear, but that would suggest mass production in late 2025 or later.

It's unclear how a low-end EV might fare outside the U.S., without IRA credits. There are many small EVs in Europe and especially China, where a quality ride can go for well under $25,000 or even $15,000. The BYD-led push to make driver-assist features standard on cheap EVs is another issue for an "affordable" Tesla EV.

Tesla's EV pipeline is rather thin, raising concerns about demand in 2026 and beyond.

As for the Tesla Semi, the EV giant has delivered a few dozen to PepsiCo (PEP). A few more customers, including Walmart (WMT), had taken possession of at least one Tesla Semi. But it's still unclear what the specs and price for the EV big rig are. Tesla recently said it expected mass production in 2026, but Semi timelines have often slipped by a factor of years.

BYD Expansion



Tesla vs. BYD EV salesBYD sells BEVs and PHEVs from around $10,000 to $150,000, including its premium Denza, FangChengBao and Yangwang brands, with a steady stream of new or upgreaded models.

Its hybrid system offers a touted 2,100 kilometers (1,305 miles) in combined battery-and-gas range.

Improved driver-assist systems and faster charging also are expanding to more of BYD's lineup.

Overseas sales are surging in the past few months.

Export logistics have improved, in terms of ships and rail, with several more roll-on/roll-off ships coming into service this year.

BYD's Thailand plant, its first full-assembly plant outside of China, is still ramping up. There's also a knockdown plant in Uzbekistan, which puts together partially assembled vehicles.

A Brazil factory is due to open in early 2025. The EV giant will have a Hungary plant up and running by early 2026. BYD also is building or plans to build factories in Indonesia, Turkey, Cambodia and Pakistan.

Turkey has a customs union with the EU. That, along with the Hungary plant, will be two factories for Europe. The Cambodia and Pakistan plants will likely be knockdown plants.

The EV giant had been looking to choose a Mexico site. However, both Trump and Beijing have concerns.

BYD reportedly will build a big plant in India, a huge potential market. A prior effort in 2023 was thwarted by India's national government.

Meanwhile, the EU has opened a probe into whether China has provided unfair subsidies to BYD's Hungary plant construction.

BYD makes EV buses in California but says it has no plans to enter the U.S. passenger EV market, amid import tariffs and political opposition. However, Trump has said he wants Chinese EV makers to build cars in the U.S.

Tesla Batteries

Tesla traditionally has not mass-produced its own batteries. For lithium-ion batteries, its joint venture partner Panasonic makes the cells and Tesla packages them. It also buys lithium-ion batteries from South Korea's LG. Tesla also buys a lot of lithium iron phosphate (LFP) batteries from China's CATL as well as some LFP batteries from BYD.

Tesla is working on 4680 batteries, first touted at the 2020 Battery Day. The 4680 batteries are standard lithium-ion chemistry, but the EV giant claimed the larger form factor offers the potential for various benefits and cost savings. Tesla's 4680 production has picked up.

Tesla reportedly has made progress on the "dry cathode" problem that should make mass production more viable. But, five years after Battery Day, 4680 batteries aren't at the forefornt.

Tesla does get some IRA tax credits from making its own batteries.

Tesla is a major battery storage provider, though it gets its batteries from CATL and BYD.

BYD's Blade Battery, Fast Charging

BYD, meanwhile, is one of the world's largest EV battery makers. Its Blade batteries are a specialized form of lithium ferrous phosphate (LFP) or lithium iron phosphate batteries. BYD supplies third-party EV makers, including Xiaomi, XPeng's Mona subbrand, Nio's Orvo brand and Toyota in addition to Tesla.

Meanwhile, BYD on March 17 unveiled its 1,000-kilowatt superfast charging technology, twice the charging power of Tesla's V4 Supercharger. It can charge at 2 kilometers per second, providing essentially a full charge in roughly five minutes.

Fast charging is a game-changer for EV adoption, eliminating concerns about long waits and range anxiety.

BYD also began pre-sales of the high-powered BYD Han L sedan and Tang L SUV, which will be among the first models that support charging up to 1,000 kW. BYD's Super e-Platform includes Blade batteries that support ultra-fast charging, high-performance electric motors, and a new generation of silicon carbide power chips.

For the first time, BYD is going to set up its own charging network. BYD aims to have 500 superfast chargers ready for the Han L and Tang L launch in early April.

Fast charging could be a huge boon to BYD's brand and sales, especially BEV sales.

Tesla Full Self-Driving

Around Thanksgiving 2024, Tesla began rolling out FSD v13, which is only available to vehicles with Hardware 4.0.

FSD v13 does appear to show a modest boost increase in miles per critical disengagement. But the unofficial FSD Community Tracker, endorsed by Elon Musk several times, signals it's a long way from even approaching robotaxi status.

Musk said on the Q4 earnings call that Tesla will begin paid robotaxi rides in Austin, Texas, this June. But he's said for years that Tesla would achieve self-driving "this year" or "next year."

At the Tesla robotaxi event, Elon Musk showed off the two-seat Cybercab, with no steering wheel. Musk expects the Cybercab price tag will be below $30,000, with production starting "before 2027."

Tesla in late February rolled out some more driver-assist features in China. But the new offerings don't match U.S.-based FSD. It appears that Tesla still needs to get a license to introduce FSD.

Tesla has hoped for a burst of FSD subscriptions and EV sales from a China launch. But BYD and other China EV makers making Level 2 ADAS standard will limit how much the U.S. giant can charge for FSD in China, if anything.

The Tesla FSD price is $8,000 in the U.S., down from a peak of $15,000. The FSD subscription price is $99 a month.

On the Q4 earnings call, Tesla conceded EVs running Hardware 3.0 won't achieve FSD, despite Musk's past pledges that they were "hardware ready." Tesla had previously promised that it would upgrade HW3.0 vehicles if they couldn't achieve self-driving.

Tesla could introduce Hardware 5.0 later this year.

BYD Self-Driving

BYD has been spending massively on driver-assist and smart-car software, racing to catch up to industry-leading peers and to lower the costs.

On Feb. 10, BYD announced that it was rolling out Level 2 driver-assistance systems across its lineup.

All models above 100,000 RMB ($13,688) will come standard with L2+ ADAS, even the Seagull, which starts below $10,000.

More-expensive BYD EVs will get more advanced ADAS, with many featuring lidar.

Along with fast charging, the smart-car push could be a big selling point and enhance the brand significantly. It's generally assumed that BYD's system will have relatively low ADAS component costs, making it hard for rivals to keep pace. Several rivals have already announced ADAS will come standard.

Tesla's Other Businesses

Tesla has its own Supercharger network in its markets. That's key in the U.S., where charging facilities are limited.

Tesla has deals with most automakers for access to Superchargers in the U.S. They are adopting the charger standard that Tesla uses. Those deals, and some related charging subsidies, will boost revenue.

But they reduce Tesla's charging moat in the U.S., which encouraged people to buy its EVs. U.S. EV and hybrid sales rose sharply in Q4 for automakers other than Tesla.

Tesla also has a solar installation business, but it's been struggling for years.

Tesla also is pursuing a humanoid robot, Optimus, with Musk saying he expects it to be a multitrillion-dollar business, with sales beginning in the first half of 2026.

"We should be thought of as an AI or robotics company," Musk has told investors. "If somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor."

BYD's Other Businesses

BYD, notably, makes its own chips. That, along with in-house batteries and other vertical integrations, helps make BYD a low-cost EV maker.

The EV and battery giant also has solar operations.

BYD Co. is largely known for its BYD Auto operations. BYD Electronics, which accounts for an increasingly smaller share of overall revenue, is involved in mostly low-margin businesses such as smartphone components and assembly, including for the Apple iPhone. But margins are improving there as well.

EU Hikes Tariffs On Chinese EVs

The European Union now imposes additional tariffs of up to 35.3% on Chinese BEVs. That's on top of prior 10% duties.

Specifically, the EU will impose an extra 17% tariff on BYD's BEVs. But the new duties don't apply to PHEVs, a big plus for BYD. The upcoming Hungary and Turkey plants will let BYD sidestep EU tariffs altogether in the future.

The EU only imposes a 7.8% extra tariff on Tesla's China made-vehicles. Tesla Shanghai exports the Model 3 to the EU.

Trump Election Impact

Elon Musk was a huge supporter of Donald Trump's election bid, contributing hundreds of millions of dollars and actively campaigning with him. There was widespread hope that the Trump administration would help Tesla. The president has rolled back fuel-economy standards, which has a mixed impact. Getting rid of the $7,500 tax credit on EVs would be a negative for Tesla in the short run. Trump's team reportedly wants a federal framework for self-driving vehicles, something Musk has argued for. But regulation isn't the main hurdle for Tesla robotaxis, which face no restrictions in states such as Texas and Florida.

Trump tariffs on autos may help Tesla, because its U.S. EVs are largely made in the U.S., while rivals face higher costs and shortages. But Canada has cut off Tesla from EV rebates, with the U.K. mulling a similar move.

Meanwhile, Musk's high-profile role in the Trump administration — along with his political comments regarding the U.S., U.K., Germany and Ukraine — appear to be further eroding Tesla's brand in the U.S. and Europe, especially with groups most likely to buy an EV.

On March 11, Trump announced he was buying a Tesla to support Elon Musk.

Trump tariff hikes on China won't have much impact on BYD directly but could hit China's economy. Tesla's China sales also could be hurt. And there's always the potential for patriotic boycotts or various government action against the EV maker.

Tesla Earnings

In the fourth quarter, Tesla earnings rose 3% vs. a year earlier while revenue edged up 2% to $25.7 billion, the second straight quarter of year-over-year gains. But those missed views. Also, earnings would have fallen significantly without the inclusion of an unrealized gain from Tesla's bitcoin holdings.

After a surprise jump in Q3, gross margins sank to 16.3%. Auto gross margins excluding regulatory tax credits tumbled to a multiyear low of 13.6%, well below views. Tesla Energy margins were still high, but came down significantly.

On the Q4 call, Musk did not repeat his forecast for 20%-30% delivery growth in 2025 and generally signaled that the EV business would be lackluster yet again this year. There was still nothing concrete about "affordable" vehicles.

Instead, the focus was almost entirely on optimism about self-driving and the Optimus robot.

In the wake of Tesla's poor-quality Q4 earnings, minimal guidance and signs of weak sales to start the year, analysts have slashed 2025 EPS targets considerably. More recent estimates suggest EPS could fall in Q1 and barely rise for the year.

BYD Earnings

BYD's Q4 earnings soared 73%, slightly above views. Sales swelled 53% to $37.89 billion, the third straight quarter of accelerating growth.

BYD's gross margin fell to 17.01% from Q3's 21.89%, reflecting higher operating costs due to new accounting standard. It was up from a revised 17.01% a year earlier.

R&D and capital spending costs continue to climb rapidly.

Tesla Stock Technicals

Tesla stock is down 34.7% so far in 2025 as of March 28, one of the worst performers in the S&P 500.

From an April 2024 low of 138.80, Tesla stock skyrocketed to 488.54 on Dec. 18. Most of that came after Q3 earnings — with Musk making bullish forecasts about Q4 sales, 2025 growth and robotaxis — but especially after Trump's election.

Shares round-tripped postelection gains and fell for nine straight weeks. TSLA rebounded in the latest week, but hit resistance at the 200-day line.

Concerns about Tesla's growth and robotaxis as well as fears about Musk's focus and impact on Tesla's brand image have taken a toll on TSLA stock.


BYD Stock Technicals

BYD stock is up 49.7% in 2025 as of March 28, just off record highs. Shares skyrocketed in February on self-driving moves, and have bounced back after tumbling to start March. Analysts are raising price targets, in part on expectations for surging EV sales through 2026 and beyond.

BYD, listed in Hong Kong and Shenzhen, trades over the counter in the U.S. Its U.S. shares often have mini-gaps as well as opening-trade mini-spikes or tumbles before settling down.


Tesla Vs. BYD Market Cap
Tesla has a market cap of $847.7 billion as of March 28. That's still far above BYD's $141.4 billion.

Tesla Stock Vs. BYD Stock
BYD sells far more EVs than Tesla, and has grabbed the lead in BEVs. More broadly, BYD in many ways is the EV maker Tesla has claimed or aspired to be. BYD makes its own batteries and chips, and sells those batteries to third parties such as Tesla. Musk has talked about making a $25,000 Tesla, though he recently dismissed the idea. BYD makes EVs profitably at far below $25,000.

Tesla's pipeline is thin. The Cybertruck appears to be a money loser with sluggish demand. The Model Y refresh is here, but will it provide a lasting sales boost?

BYD has entered most of the world outside of the U.S., with overseas sales soaring in 2025. Its model lineup continues to expand dramatically, with big moves upscale and adding tech to its more-affordable offerings.

BYD's broad lineup and next-generation hybrid system means it's reaping the benefits of a global shift toward PHEVs. Fast-charging could swing the scales back toward BEVs.

Tesla stock surged on Trump's election and optimism about tech breakthroughs, but has given up those gains amid concerns about the actual business, doubts about Musk's latest self-driving deadlines and further brand erosion. BYD stock, meanwhile, has soared on its own driver-assist and charging efforts, and expectations that sales will continue to boom.

Keep your eyes on the BYD and Tesla rivalry, as well as the pros and cons of Tesla stock vs. BYD stock.
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eastunder

04/04/25 12:15 PM

#16941 RE: eastunder #13620

TSLA Cpps 244.01





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eastunder

04/15/25 9:15 AM

#16990 RE: eastunder #13620

Tesla begins sales in Saudi Arabia

https://finance.yahoo.com/news/tesla-begins-sales-saudi-arabia-092108183.html

GlobalData
Tue, April 15, 2025 at 3:21 AM MDT 2 min read

US battery electric vehicle (BEV) manufacturer, Tesla Inc, has launched sales operations in oil-rich Saudi Arabia, taking on existing zero-emission brands such as US manufacturer Lucid and China’s BYD in a market dominated by large petrol-driven SUVs.

The US automaker has opened sales outlets in the cities of Riyadh, Jeddah and Dammam, as it looks to emulate the relative success it has enjoyed in neighbouring markets such as the United Arab Emirates (UAE), where the company is appealing to a small but growing number of urban buyers.

The launch comes as Tesla sales in a large number of markets worldwide have fallen in recent months, which has been partly blamed on the company’s owner Elon Musk’s close allegiance with newly-elected US President Donald Trump. The company’s global sales fell by 13% year-on-year to 336,681 units in the first quarter of 2025, including a 9% drop in US sales to 128,100 units. The company’s share price has almost halved since Donald Trump won the US Presidential election in November.

Naseem Akbarzada, Tesla country manager for Saudi Arabia, told reporters this week: "Today we are proud to officially launch in the kingdom, marking the start of a long-term presence in the country."

Tesla plans to build a network of charging stations for its customers, starting in the three cities where it has opened sales outlets. But recharging facilities on the country’s desert inter-city highways remains limited.

Saudi economist Mohammed Al-Qahtani welcomed Tesla entry into the market, but urged the company to invest more in the country, saying “we do not want a showroom, we want a factory. We want to be part of the production process, not just consumption."

"Tesla begins sales in Saudi Arabia" was originally created and published by Just Auto, a GlobalData owned brand.
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eastunder

04/15/25 9:27 AM

#16991 RE: eastunder #13620

Tesla, Inc. (TSLA) Stock: China Says “No Thanks” to Model S and X as Tariff Battle Heats Up
Tesla stops Model S/X orders in China following 125% tariffs while stock forms "death cross" as shares fall 41% since January.

By Trader Edge April 15, 2025
https://moneycheck.com/tesla-inc-tsla-stock-china-says-no-thanks-to-model-s-and-x-as-tariff-battle-heats-up/

Tesla has stopped taking orders for Model S and X in China following 125% Chinese tariffs on US-made cars

The Model S and X represent less than 0.5% of Tesla’s global deliveries

Tesla stock formed a “death cross” with the 50-day moving average falling below the 200-day average

Tesla shares are down 41% since President Trump’s inauguration on January 20

Upcoming catalysts include Q1 earnings, a new low-price model, and robotaxi service launch

Tesla has quietly halted new orders for its Model S and Model X vehicles in China. This move comes as trade tensions between the United States and China intensify.

Chinese users attempting to order these models on Tesla’s website or WeChat mini program found them unavailable as of Friday. The company has not provided an explanation for the decision.

The timing coincides with China’s implementation of a 125% tariff on US-made vehicles. This tariff increase was in direct response to President Donald Trump’s decision to raise duties on Chinese goods to 145%.

Trade War Impacts

Both the Model S and Model X are manufactured in the United States and shipped to China. However, these models represent only a small portion of Tesla’s business in the country.

In 2024, Tesla imported just 1,553 Model X and 311 Model S units to China. These figures account for less than 0.5% of the company’s global deliveries of over 657,000 vehicles last year.

The majority of Tesla’s success in China comes from its Shanghai-produced Model 3 and Model Y. These locally-made vehicles dominate Tesla’s sales in China and are also exported to European markets.

Tesla’s Shanghai production facility has helped the company avoid some of the trade war impacts that have affected other automakers. By manufacturing vehicles locally, Tesla can bypass certain tariffs.

Despite this advantage, Tesla faces growing pressure in China. Domestic competitors like BYD continue to gain market share in the world’s largest electric vehicle market.

Technical Troubles

In a separate development, Tesla’s stock formed what traders call a “death cross” on Monday. This technical pattern occurs when a shorter-term moving average crosses below a longer-term moving average.

Specifically, Tesla’s 50-day moving average (approximately $289 per share) has fallen below its 200-day moving average (about $291 per share). For many traders, this pattern signals weakening momentum.

Tesla shares were up 0.3% in premarket trading Tuesday, reaching $254.10. This slight gain came despite the generally negative sentiment surrounding the death cross formation.

The company’s stock has behaved unpredictably in the past. After the previous death cross in February 2024, shares were flat a month later and up 15% six months after the event.

Tesla stock has declined 41% since President Trump’s inauguration on January 20. This drop reflects investor concerns about several factors affecting the company.

Looking Ahead

Tesla faces multiple challenges but also has potential catalysts on the horizon. The company will soon report its first-quarter earnings, which could influence investor sentiment.

The automaker also plans to launch a new lower-priced model. This vehicle could help Tesla compete more effectively in price-sensitive markets.

Additionally, Tesla is preparing to launch its robotaxi service. This initiative represents a new potential revenue stream for the company.

Investor anxiety currently centers on Tesla’s sales figures, CEO Elon Musk’s activities, and the effects of global auto industry tariffs. These concerns appear to be outweighing potential positive developments in the near term.

Tesla’s premium vehicle lineup, including the Model S, Model X, and Cybertruck, saw a 25% drop in global deliveries during the first quarter. Analysts attribute this decline to lack of updates and growing backlash over Elon Musk’s political presence.

The combination of rising tariffs and intensifying competition creates serious challenges for Tesla’s strategy in China. The timing of these headwinds is particularly problematic for the electric vehicle maker.

Tesla has not responded to requests for comment regarding its decision to stop taking Model S and X orders in China. The company has made no public statements about how it plans to address the new tariff situation.
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eastunder

04/15/25 9:30 AM

#16992 RE: eastunder #13620

TSLA 248 /$147.26 open gap / $139.09 lowest buy

Still stalking for rebuy of
$139.09, 156.44, 170.54, 219.04 trading sets



147.26 Gap trk 4/23/24 also 182 8/5/24 number

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eastunder

04/21/25 9:55 AM

#17001 RE: eastunder #13620

Tesla's Weak Q1 Sets Stage for Strategic Reset, All Eyes on Musk

Muslim Farooque
Mon, April 21, 2025 at 7:36 AM MDT 1 min read

https://finance.yahoo.com/news/teslas-weak-q1-sets-stage-133630128.html

Tesla (NASDAQ:TSLA) is gearing up to release its first-quarter earnings on Tuesday, and it's shaping up to be a pivotal moment. While analysts are expecting revenue to tick up slightly to around $21.5 billion, profit is expected to dip. Forecasts point to earnings per share falling to $0.42, down from $0.45 a year ago and well below the previous quarter's $0.73.

The decline ties back to a tough quarter for deliveries just 336,681 vehicles made it to customers, the lowest figure in more than two years. That slump is setting the stage for what could be a tense earnings call.

There's also growing pressure on Elon Musk to shift his attention back to Tesla. Analysts like Dan Ives at Wedbush have flagged concerns about Musk's outside commitments, especially as Tesla's brand has taken some hits and geopolitical factors like tariffs weigh on operations.

Still, there's a longer-term view in play. Deepwater Asset Management is looking past 2025, betting on a rebound by 2026. That outlook hinges on stronger demand, a cheaper model, and real movement on Tesla's autonomy and robotics plans.

Options markets suggest traders expect a big reaction, with implied volatility pointing to a possible 10% move after results drop.
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eastunder

04/23/25 10:58 AM

#17008 RE: eastunder #13620

JPMorgan Cuts Tesla's Price Target to $115 From $120

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eastunder

05/09/25 11:47 AM

#17064 RE: eastunder #13620

TSLA cpps 299

277.92 and 242.79





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eastunder

05/29/25 4:14 PM

#17140 RE: eastunder #13620

TSLA cpps 358.43 and Gap list

Interesting area to be at.

Not giving me a chance to add, are ya?

Open Gaps
Direction Date range
up May-27-2025 343.18 to 347.32
up May-12-2025 307.04 to 311.5
up May-09-2025 289.8 to 290
up May-08-2025 277.92 to 279.41
up Apr-25-2025 259.54 to 259.63
up Apr-23-2025 242.79 to 244.43

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eastunder

06/23/25 10:35 AM

#17290 RE: eastunder #13620

TSLA + 29.19

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eastunder

06/23/25 10:54 AM

#17291 RE: eastunder #13620

How Tesla Stock Is Responding To The Robotaxi Launch
https://www.investors.com/news/tesla-stock-responds-to-robotaxi-launch-monday-stock-market/?mod=IBD_FV
KIT NORTONUpdated 10:11 AM ET 06/23/2025

Tesla (TSLA) soared more than 7% in Monday's stock market as investors respond to Sunday's limited robotaxi ride-hailing service launch.

With EV sales falling and a limited pipeline of new vehicles, CEO Elon Musk and TSLA investors have bet heavily on robotaxi hopes. Tesla stock could possibly swing Monday on the robotaxi launch, but that process also could play out over days, weeks or longer as data trickles in and the market mulls whether the launch was a success.

Tesla stock jumped nearly about 7.2% to 345.10 during Monday's stock market. On Friday, TSLA advanced as high as 332.36 intraday before closing up 0.03% to 322.16. The stock is right at its 21-day exponential moving average and slightly above the 200-day moving average.

Uber Technologies (UBER) could potentially respond to Tesla robotaxi news. The stock edged down around 0.4% during Monday's stock market. The ride-sharing leader has a new base and is near an aggressive entry.

Analysts Weigh In On The Robotaxi
Wedbush Securities analyst Dan Ives, longtime Tesla bull, took part in the limited robotaxi service launch Sunday in Austin, Texas.

Late on Sunday, Ives wrote that before experiencing the Model Y robotaxi, he "expected to be impressed but walking away from it, all there is to say is that this is the future."

"We took two approximately 15 minute rides around Austin and the key takeaways are that it was a comfortable, safe, and personalized experience. The ride itself was completely smooth, and it was indistinguishable that the car was driverless as there was never a moment in the vehicle where we felt as if it did something irrational," Ives said.

The analyst added that the "successful robotaxi launch is really just the beginning of the Tesla AI story" and that the limited launch "exceeded our expectations and offered a seamless and personalized travel experience that has lit the spark for autonomous driving."

Meanwhile, UBS analyst Joseph Spak on Monday raised the firm's price target on Tesla stock to 215 from 190, but kept a sell rating on the shares.

Spak wrote Monday that Tesla's autonomous ride-hailing opportunity is already priced into TSLA stock. The analyst values the ride-hailing service opportunity at about $99 per share and leaves UBS remaining cautious on Tesla's overall valuation.

What The Robotaxi Rollout Looked Like
Tesla officially launched its limited robotaxi service in Austin, Texas, on Sunday, with the first ride officially taken with a flat fee of $4.20 charged. Participants, including several Tesla social media influencers, received "early access" invites sent Friday.

Tesla has geofenced the service, which excludes airports. A map of the geofenced area is available in the robotaxi mobile app. Tesla released the app Sunday afternoon. A "safety monitor" rides in the front passenger seat. There is also tele-assistance option, if human intervention has to take place.

The Tesla ride-hailing service runs from 6 a.m. to midnight every day of the week, but may be suspended for bad weather.

On Sunday, videos of robotaxi rides flooded Musk's social media platform X, formerly Twitter, as social media influencers took part in the rollout.

Meanwhile, Texas Gov. Greg Abbott on Friday signed a bill listing prelaunch requirements for robotaxi operators. The rule does not take effect until Sept. 1. Several Texas state legislators previously informed Tesla that a June 22 launch would be permitted only if the company provided proof of compliance with the safety rules.

The new requirements include proof of ability to operate within state traffic laws, according to NBC Austin affiliate KXAN. They must also provide the state Department of Public Safety with plans detailing how first responders should interact with the vehicles in various scenarios.

The new law also stipulates that robotaxi operators must verify that the vehicles are "capable of achieving a minimal risk condition if the automated driving system is rendered inoperable."

Tesla is a "known" autonomous vehicle, or AV, operator in Austin, according to Austin's Transportation and Public Works website. As of June 23, the EV giant is still in the "testing" phase of autonomous driving operation in the city.

Tesla Stock And Robotaxi Impact
TSLA stock ended Friday's stock market down about 1% on the week. It has so far declined 7% in June. TSLA advanced more than 10% on the previous week, reclaiming the 200-day moving average and 50-day line.

Overall, Tesla stock has moved 35% higher on robotaxi bets following the April 22 Q1 conference call. However, TSLA stock is down about 20% for the year. The stock has also retreated 34% from its all-time high of 488.54.

Tesla stock has a 21-day average true range of 5.36%. The ATR metric, available on IBD's MarketSurge charting tool, gauges the characteristic breadth of a stock's behavior. Stocks that tend to make large jumps or dives in daily stock market action, the kind that can trigger sell rules and shake investors out of a stock, have a high ATR. Stocks that tend to make more incremental moves have lower ATRs.

Tesla stock has a 70 Composite Rating out of a best-possible 99. The stock also has a 91 Relative Strength Rating and a 59 EPS Rating.