Tag Archives: Tesla

Big news out of the federal government could be a big boon for certain automakers. The Treasury Department said yesterday it would delay releasing proposed guidance regarding the sourcing of EV batteries that are part of the Inflation Reduction Act’s (IRA) new $7,500 EV tax credit. The IRA’s rules regarding the EV tax credit require that $3,750 of the credit is only eligible if 40% of the value of the critical minerals in the battery have been “extracted or processed” in the U.S., or a… Source link

Big news out of the federal government could be a big boon for certain automakers. The Treasury Department said yesterday it would delay releasing proposed guidance regarding the sourcing of EV batteries that are part of the Inflation Reduction Act’s (IRA) new $7,500 EV tax credit. The IRA’s rules regarding the EV tax credit require that $3,750 of the credit is only eligible if 40% of the value of the critical minerals in the battery have been “extracted or processed” in the U.S., or a… Source link

A growing chorus of Wall Streeters covering Tesla’s stock are becoming more cautious on the name heading into 2023, adding to a brutal month and year. EvercoreISI analyst Chris McNally slashed his price target on Tesla’s stock to $200 from $300 on Tuesday, joining bearish takes in the past week from Goldman Sachs, Wedbush, and Oppenheimer. “While we continue to view Tesla as having a leading EV gross margin advantage from global scale, vertical integration, and US IRA [Inflation Reduction Act]… Source link

A growing chorus of Wall Streeters covering Tesla’s stock are becoming more cautious on the name heading into 2023, adding to a brutal month and year. EvercoreISI analyst Chris McNally slashed his price target on Tesla’s stock to $200 from $300 on Tuesday, joining bearish takes in the past week from Goldman Sachs, Wedbush, and Oppenheimer. “While we continue to view Tesla as having a leading EV gross margin advantage from global scale, vertical integration, and US IRA [Inflation Reduction Act]… Source link

Tesla CEO Elon Musk has found a new way to jolt the electric carmaker’s bruised stock price: Tease that he’d step away from being Twitter’s CEO. “Should I step down as head of Twitter? I will abide by the results of this poll,” Musk tweeted to his 122.1 million followers on Sunday. As of early Monday, more than 57% of 16 million votes chose “Yes” and Tesla was up 4.5% in pre-market trading. The risk of operational miscues at Tesla has grown as Musk focuses on restructuring Twitter in highly… Source link

Tesla CEO Elon Musk has found a new way to jolt the electric carmaker’s bruised stock price: Tease that he’d step away from being Twitter’s CEO. “Should I step down as head of Twitter? I will abide by the results of this poll,” Musk tweeted to his 122.1 million followers on Sunday. The poll closed on Monday morning, with 57.5% of the 17.5 million votes choosing “Yes” and Tesla was up nearly 5% in pre-market trading. The risk of operational miscues at Tesla has grown as Musk focuses on… Source link

Tesla stock is in the midst of losing the most market valuation from a high in its history of being a public company. Shares of the EV maker are down 64% from a peak last November, marking the stock’s largest drawdown dating back to its IPO in 2010, according to data from Compound Capital. The recent 407-day stretch of selling pressure has eclipsed the 60.6% drop from a peak derived over 28 days from Feb. 19, 2020 to Mar. 18, 2020 (chart below). More recently, Tesla stock is down 22% in… Source link

Tesla stock is in the midst of largest drawdown since the company went public back in 2010. Shares of the EV maker are down 64% from a peak last November, marking the stock’s largest drawdown since its market debut, according to data from Compound Capital. The recent 407-day stretch of selling pressure has eclipsed the 60.6% drop from a peak seen over the 28 days from Feb. 19, 2020 to Mar. 18, 2020 (chart below), when the onset of the COVID-19 pandemic rocked markets worldwide. More recently,… Source link

The pain for Tesla investors is unending as a rough week comes to a close. Tesla shares slipped another 4% today, dropping to multi-year lows and giving the stock a nearly 16% drop for the week, as of midday trading. Tesla investors have been blaming CEO Elon Musk for the near term weakness in the stock, with Twitter the main source of the criticisms. Long-term shareholders see him as distracted from running Tesla and abandoning the company during a critical period, and bringing downward… Source link

Investors are learning a painful lesson that Tesla’s stock price is valued on Elon Musk’s pomp and circumstance in addition to the automaker’s fundamentals. “Is Tesla a great company that produces a great car? Absolutely. Is Tesla worth what General Motors should be or Ford or Toyota should be? Of course not,” veteran venture capitalist Bradley Tusk said on Yahoo Finance Live (video above). “So much of Tesla’s share price is based on hype and the pixie dust that Elon Musk is so good at… Source link