(Bloomberg) — Tesla Inc. shareholders approved a three-for-one stock split on Thursday as the electric-vehicle maker seeks to attract an even larger number of retail investors amid a furious rally since late May. The split will bring Tesla’s shares down to the $300 range, but the Austin, Texas based-company did not immediately specify as of […]
Read More(Bloomberg) — Tesla Inc. has signed new long-term deals with two of its existing Chinese battery-materials suppliers, the latest move by automakers to secure supplies amid intensifying competition. Zhejiang Huayou Cobalt Co. and CNGR Advanced Material Co. signed pricing agreements with the electric-vehicle giant for supplies until the middle of this decade, according to separate […]
Read More(Bloomberg) — Elon Musk has called for more investment in global lithium refining to ease shortages in battery materials — and promised those who seize the opportunity it’s as lucrative as “basically minting money.” “I’d like to once again urge entrepreneurs to enter the lithium refining business. The mining is relatively easy, the refining is […]
Read More(Bloomberg) — Tesla Inc. investors have a lot to parse after the July 4 holiday: a disappointing quarter of deliveries, a record month of production, and now several weeks of downtime at multiple plants. The electric-car maker will halt most production on its Model Y assembly line in Shanghai for the first two weeks of […]
Read More(Bloomberg) — Tesla Inc. delivered 254,695 cars worldwide in the three months to June, snapping a two-year streak of quarter-on-quarter gains, as a Covid-related shutdown at its factory in Shanghai crimped production. The results, posted Saturday, missed a forecast of 261,181 vehicle deliveries based on an average of analyst estimates compiled by Bloomberg. That is […]
Read More(Bloomberg) — Tesla Inc. laid off hundreds of workers on its Autopilot team as the electric-vehicle maker shuttered a California facility, according to people familiar with the matter. Surprisingly, the majority of those who were let go were hourly workers, said the people, who asked not to be identified discussing private information. As recently as […]
Read More(Bloomberg) — Tesla Inc. is struggling Tuesday as the electric-vehicle maker’s production woes in China refuse to go away, leading another analyst to slash their 12-month price target on the once high-flying stock. “With about 13,000 units of production per week and higher than average margins, any production loss at Shanghai is bound to have […]
Read More(Bloomberg) — Tesla Inc. has lost its crown jewel status in Cathie Wood’s main fund for the first time in about four-and-a-half years. Elon Musk’s company had commanded the pole position by market value in the ARK Innovation ETF, an exchange-traded fund known as ARKK, on most days since at least 2017, according to data […]
Read More(Bloomberg) — A benchmark ESG stock index has removed Tesla Inc., sparking a debate about which companies do — and don’t — pass muster with socially aware investors. Tesla has grown into a $735 billion company on the back of its breakthrough electric-vehicle engineering. Its own carbon footprint is a small fraction of its peers, […]
Read More(Bloomberg) — Tesla Inc. looks more than ever like a mature company, with 11 consecutive quarters of profits and long-term production goals. Yet analysts couldn’t disagree more about where the shares of Elon Musk’s company are going. Their price targets — predictions for the electric-vehicle maker’s stock 12 months from now — range from a […]
Read More(Bloomberg) — After one of the most dramatic weeks yet for ARK Investment Management, Wall Street can no longer have any doubts: Cathie Wood is sticking with her strategy — and investors are sticking with her. The chances of both have been questioned this year as a selloff in speculative tech stocks laid waste to […]
Read More(Bloomberg) — Elon Musk sold about $4 billion worth of Tesla Inc. shares after announcing a blockbuster $44 billion deal to buy Twitter Inc. Tesla’s chief executive officer offloaded about 4.4 million shares on April 26 and April 27, filings showed late Thursday. Wall Street analysts and investors in the electric carmaker suspected that Musk […]
Read More(Bloomberg) — Cathie Wood’s Ark Investment Management now expects Tesla Inc. shares to more than quadruple to $4,600 by 2026. Ark last year said it saw shares of the electric-vehicle maker hitting $3,000 by 2025, but has since updated its price target amid new expectations around Tesla’s prospective robotaxi business and capital efficiency. The firm’s […]
Read More(Bloomberg) — Tesla Inc. investors are signaling confidence that the automaker can power through disruptions such as the continued shutdown of its Shanghai factory due to Covid-19 lockdowns, at least based on crypto-token trading that suggests its shares will rise Monday. The electric-vehicle maker said Saturday it delivered a record 310,048 cars worldwide in the […]
Read More(Bloomberg) — The invasion of Ukraine has added to agita among electric-vehicle makers over the supply of nickel, a critical ingredient in EV batteries, since Russia is one of the world’s biggest producers. But Tesla Inc. had already been scouring the globe for the metal, signing pacts with several nickel suppliers since 2021. That includes […]
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