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Wall Street's main indexes were set to open subdued on Tuesday as investors refrained from placing big bets ahead of key economic data this week, including job openings figures due later in the day that will provide further clues on the state of the economy.

Redwood Materials said on Tuesday it had raised more than $1 billion in new funding as the battery materials firm, founded by former Tesla executive JB Straubel, seeks to expand its operations in the United States.

Piedmont Lithium said on Tuesday it has received a partial prepayment of $31.6 million for the sale of 15,000 dry metric tonnes (dmt) of lithium concentrate under its offtake deal with North American Lithium (NAL).

Artificial intelligence (AI) promises to boost labor output across most industries. In fact, a study conducted by exchange-traded fund organizer Ark Invest concluded that automation tools could more than double the productivity of the average knowledge worker. That selling point

The past couple of years have been a rollercoaster thrill ride for Tesla (NASDAQ: TSLA) investors. After surging to a new all-time high in late 2021, the stock went on to crater more than 70%. Factors driving some of the steep drops included outsized inflation, rising interest ra

Macro pressures, high interest rates, and growing competition are expected to weigh on the near-term performance of electric vehicle (EV) makers. That said, the long-term growth potential for the EV market remains attractive due to increased adoption across the globe, supported by the growing focus on clean energy and government incentives. Using TipRanks’ Stock Comparison Tool, we placed Tesla ( NASDAQ:TSLA ), Li Auto ( NASDAQ:LI ), and Ford ( NYSE:F ) against each other to find the most compelling EV stock, as per Wall Street analysts.    Tesla (NASDAQ:TSLA) Shares of Elon Musk-led Tesla have pulled back 10% over the past month but are still up 94% year-to-date. While Tesla bulls remain confident about the EV maker’s technology and ability to grab further market share, other analysts are worried about the impact of price cuts and the growing competition on Tesla’s profitability.    Last week, Wedbush analyst Daniel Ives reiterated a Buy rating on TSLA with a price target of $350. Ives listed various factors that add to Tesla’s “golden EV success story,” including the company’s recently announced supercharger network deals, energy business, artificial intelligence (AI)-driven autonomous path, unmatched battery ecosystem, and increased production scale. Further, the analyst expects Tesla's supercharger business to roughly account for 3% to 6% of overall revenue, representing a $10 billion to $20 billion business by 2030. Overall, Ives believes that Tesla is in a “prime position” to further leverage the ongoing EV transformation, given that demand is holding up globally despite steep price cuts on the company’s models. In contrast, Bank of America analyst John Murphy thinks that the magnitude of the month-over-month decline in Tesla’s July deliveries in China indicates that the price cuts implemented in late 2022 may have pulled forward demand rather than driving additional volumes. Murphy reiterated a Hold rating on TSLA with a price target of $300 on August 8. Is Tesla a Good Stock to Buy Now? Overall, with 11 Buys, 13 Holds, and five Sells, Wall Street has a Hold consensus rating on Tesla stock. The average price target of $254.21 implies 6.4% upside potential. Li Auto (NASDAQ:LI) Chinese EV maker Li Auto posted stellar second-quarter results, with revenue rising nearly 228% year-over-year. The company swung to an adjusted net income of RMB 2.7 billion from an adjusted net loss of RMB 183.4 million in the prior-year quarter. However, investors seemed unhappy with the company’s third-quarter guidance. Li Auto expects Q3 2023 year-over-year revenue growth in the range of 246% to 256.4%.   On August 16, Bank of America analyst Ming Hsun Lee reiterated a Buy rating on Li Auto and raised the price target to $60 from $56, citing the continued expansion of the company’s product catalog. Li currently offers three extended-range electric vehicle (EREV) models (L7, L8, and L9) and expects its fourth EREV model L6 to contribute to the top line as soon as Q2 or Q3 2024. Additionally, the company has expressed its intention to launch its inaugural battery electric vehicle (BEV) model Mega in Q4 2024, with deliveries scheduled for Q1 2024. It has also laid out plans for the introduction of three more BEV models, slated for delivery in the second half of 2024. Keeping in view the full product line-up, Lee raised his 2023, 2024, and 2025 sales volume estimates by 1%, 5%, and 23%, respectively, to 355k, 600k, and 900k units. Accordingly, he also raised his 2023, 2024, and 2025 earnings estimates by 1%, 6%, and 13% respectively. Commenting on the supply chain issues faced by Li Auto, Lee said, “Going forward, Li will focus more on management and communication with the supply chain and believes that suppliers will be more convinced and supportive as its volume grows further.” Is LI Stock a Good Investment? Wall Street’s Strong Buy consensus rating on Li Auto stock is based on nine unanimous Buys. The average price target of $51.81 suggests about 30.1% upside. Shares have risen 95% since the start of this year. Ford Motor (NYSE:F) Legacy automaker Ford reported upbeat results for the second quarter of 2023. The company’s adjusted EPS increased about 6% year-over-year to $0.72, with revenue rising 12% to $45 billion. The company also raised its full-year earnings guidance. Nonetheless, investors were concerned about the performance of Ford’s "Model e" EV division. While the company’s traditional business unit, Ford Blue, and commercial business, Ford Pro, generated Q2 earnings of $2.31 billion and $2.39 billion, respectively, the "Model e" division posted a loss of $1.08 billion in Q2 2023. Further, Ford CFO John Lawler said that EV adoption is taking at a slower pace than anticipated. The company now projects the loss for EV business to widen to $4.5 billion this year compared to $3 billion in the prior-year quarter, citing the pricing backdrop, investments in new products and capacity, and other costs. On August 8, Tigress Financial analyst Ivan Feinseth reiterated a Buy rating on Ford with a price target of $22. Feinseth noted that robust performance from Ford Pro and Ford Blue continues to drive revenue and cash flow, enabling the funding of the company’s aggressive electrification initiatives. Feinseth expects Ford to continue to benefit from its leading position in full-size pickup trucks and SUVs, the ongoing execution of its long-term EV production and battery technology development plans, and the introduction of new EV models. Is Ford Stock a Buy or Hold? Wall Street’s Moderate Buy consensus rating on Ford stock is based on six Buys, seven Holds, and two Sells. At $15.14, the average price target implies 27.2% upside. Shares have risen 2.3% year-to-date. Conclusion Wall Street is highly bullish on Li Auto, cautiously optimistic about Ford, and sidelined on Tesla. Analysts see solid upside potential in Li Auto stock from current levels, backed by its continued innovation, solid execution, and the ability to grab further market share in the Chinese EV market.   Disclosure

Australia's Sayona Mining said early on Monday its CEO and managing director Brett Lynch resigned from his position, sending the lithium producer's shares down more than 27% by close.

Australia's Sayona Mining said early on Monday its CEO and managing director Brett Lynch resigned from his position, sending the lithium producer's shares down 27.2% at close.

Tesla (TSLA) closed at $238.82 in the latest trading session, marking a +0.1% move from the prior day. This change lagged the S&P 500's 0.63% gain on the day. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq ga

Tesla (TSLA) closed at $238.82 in the latest trading session, marking a +0.1% move from the prior day. This change lagged the S&P 500's 0.63% gain on the day. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq ga

Wall Street ended higher on Monday, with gains in 3M and Goldman Sachs ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path.

Wall Street ended higher on Monday, with gains in 3M and Goldman Sachs ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path.

Wall Street rose on Monday, with gains in 3M and Goldman Sachs ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path.

Hedge funds hold record exposure to the seven biggest tech stocks by market capitalization, according to data released on Friday by Goldman Sachs, in a week Nvidia hit an all-time high after beating revenue expectations.

Tesla ( NASDAQ:TSLA) is primarily known as a company that makes electric vehicles (EVs), but that only tells part of the story. In fact, when you sum up all the different elements, says Wedbush analyst Dan Ives, a bigger picture emerges. “With Tesla production strong and OEMs lining up for access to its supercharger network, we believe the sum-of-the-parts story for Tesla is fully in stride with its newly released supercharger network OEM deals, energy business, AI-driven autonomous path, unmatched battery ecosystem, and increased production scale/ scope globally adding to the Tesla golden EV success story,” the 5-star analyst explained. A key element here is Tesla’s supercharger network. There are currently only ~5,000 superchargers on the grid, but by the end of 2024, the company has set its sights on adding another 7,500 chargers to the network. At the same time, it is opening them up to other EV makers, which should provide “another boost to accelerate its growth.” It certainly looks like other OEMS are keen to make use of the network. While Tesla’s North American Charging Standard (NACS) connectors are different to the combined charging system (CCS), major auto names such as GM, Ford, Rivian, Mercedes-Benz, Nissan and Volvo/Polestar are signing up to use the network with Ives expecting others such as Hyundai, Honda/Acura and more to come on board too. How much does Tesla stand to benefit from the network’s adoption? Ives anticipates that the supercharger segment will be generating around 3%-6% of total revenues, amounting to $10 billion - $20 billion by 2030. Another major element in the sum-of-the-parts story involves the ramping of production for the 4680 battery cells. While production began at the Fremont facility, it has since accelerated with expansion to the gigafactories in Texas and Nevada. With intentions to boost margins (which is a significant concern for investors) and elevate vehicle performance, management envisions the 4680 cells as the future of TSLA's battery pack strategy. The roadmap involves incorporating these cells into all forthcoming TSLA models, such as the Semi, Roadster, and updates to Models S and X. Tesla projects an increase of 5 times in energy, 6 times in power compared to conventional vehicles, and an enhanced range of 16%. All told, Ives maintained an Outperform (i.e., Buy) rating on Tesla shares, along with a Street-high $350 price target. The implication for investors? Upside of 48% from current levels. (To watch Ives’ track record, click here) Ives is the Street’s most prominent TSLA bull by some distance right now. Elsewhere, the stock receives an additional 10 Buy ratings, 13 Holds and 5 Sells, all coalescing to a Hold consensus rating. Going by the $254.21 average target, the shares have room for ~7% growth in the months ahead. (See Tesla stock forecast ) To find good ideas for stocks trading at attractive valuations, visit TipRanks’  Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Hedge funds hold record exposure to the seven biggest tech stocks by market capitalization, according to data released on Friday by Goldman Sachs, as managers resumed buying into the sector this month.

Wall Street's main indexes rose on Monday as a pullback in Treasury yields boosted megacap growth stocks ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path.

Shares of Vietnamese electric-vehicle maker Vinfast surged 21% on Monday, extending a rally from last week that more than quadrupled its market value to $160 billion.

China's BYD Co Ltd on Monday said first-half profit jumped 204.7% as the new energy vehicle maker broke its delivery record and retained its crown as China's biggest-selling auto brand.

Wall Street's main indexes were set for a higher open on Monday ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path, while China's measures to boost its markets provided further support.