Gordon Johnson, the CEO of GLJ Research, said Tesla's 2% sequential growth was hardly "transformational" amid price cuts and increasing sales.
Shares of Tesla and electric vehicle makers jumped alongside a bounceback in tech stocks after the Nasdaq fell into a technical correction.
Tesla tumbled as much as 9% in early Tuesday trading, extending losses following a similarly sized plunge the session prior. The sell-off has dragged shares to their lowest since December and led CEO Elon Musk to relinquish his title as the world’s richest person. Tesla’s latest slump follows confusion over […]
The sell-off has seen tens of billions of dollars erased from Tesla's market cap and led Elon Musk to lose his title as the world's richest person.
Tesla climbed as much as 5% on Friday, marking an eleventh straight day of gains as the automaker’s massive rally continues further into the new year. The gains follow an 8% climb on Thursday that established CEO Elon Musk as the world’s wealthiest person and saw the company’s market cap […]
Tesla sank as much as 6% on Monday as the company made its S&P 500 debut. The automaker joined the benchmark index as its fifth-largest member at the market open on Monday. Tesla boasts a weighting of 1.69% in the S&P 500, landing between Facebook and Alphabet’s class A shares. […]
US stocks gained on Tuesday as vaccine progress further boosted equities hit hardest by the pandemic. The S&P 500 and Nasdaq composite rose to record highs. Investors cheered Pfizer and BioNTech’s application for regulatory approval for their coronavirus vaccine in the European Union. If approved, the shot could be distributed […]
Large-cap mutual funds are on the verge of fuelling a massive rally for Tesla shares, Goldman Sachs said Thursday. The automaker is set to join the S&P 500 on December 21 as one of its 10 most valuable members. Of the 189 large-cap core funds tracked by Goldman, 157 funds […]
Strong third-quarter deliveries set Tesla up for a healthy earnings beat on Wednesday and a sales milestone before the year is out, Wedbush analysts said Friday. “Improved manufacturing efficiency and shining [Gigafactory] 3 success in China” are key drivers for the company’s near-term success, the team wrote in note. The […]
Billionaire investor Ron Baron told CNBC on Wednesday that Tesla will become a $US2 trillion company. Baron’s asset management firm bought Tesla in 2016 when shares were roughly $US40. He said he’s focused on the business of Tesla and less concerned with the short-term stock movements. The electric vehicle company […]
Tesla’s425% year-to-date rally places the stock at an unsustainable high, Needham analyst Rajvindra Gill said Monday. “We’ve never seen a stock rise that much that fast with such little regard for past fundamentals,” Gill added. Wall Street’s revenue and earnings estimates haven’t kept up with the stock’s meteoric rise this […]
Tesla shares slid as much as 5% on Wednesday after the automaker’s “Battery Day” event missed expectations and led some to question the company’s lofty stock price. CEO Elon Musk unveiled new manufacturing processes on Tuesday set to slash Tesla’s battery costs and allow for the production of a $US25,000 […]
US equities climbed Tuesday as a tech-led rebound ended the S&P 500’s four-day losing streak. Mega-cap companies including Apple,Facebook, and Amazon pushed indexes higher as investors turned back to the recently sold-off growth favourites. Still, new measures to curb the coronavirus’s spread in the UK revived fears of fresh lockdowns […]
Wedbush analyst Dan Ives raised his price target for Tesla shares to $US475 from $US380 on Thursday, citing stronger-than-expected deliveries in China. The new target implies a 12% gain from the automaker’s Thursday closing price of $US423.43. China is a “key market” for Tesla that could make up 40% of […]
Tesla’sSeptember 22 Battery Day event will introduce groundbreaking technologies that can boost the automaker’s profits and vehicle sales for years to come, UBS analysts said Friday. The team doubled its price target for Tesla shares to $US325 from $US160 in a note to clients while maintaining a “neutral” rating. Tesla […]
US stocks sank in turbulent Thursday trading as falling tech giants dragged on benchmark indexes. Tech names rebounded on Wednesday but resumed their downward spiral as investors shunned their still-lofty valuations. Traders also mulled weekly jobless-claims data that signalled lasting pain in the US labour market. Claims totaled 884,000 for […]
US stocks climbed on Thursday as tech giants attempted to reclaim record highs. The gains come after rebounding tech names led indexes higher on Wednesday. The sector has fuelled outsize volatility in recent sessions as investors reconcile lofty stock valuations and strong momentum. Investors also mulled weekly jobless claims data […]