The iShares Self-Driving EV and Tech ETF is seeing unusually high volume in afternoon trading Tuesday, with over 133,000 shares traded versus three month average volume of about 45,000. Shares of IDRV were down about 2.1% on the day.
Tesla's (NASDAQ: TSLA) "Semi Delivery Event" last Thursday evening kicked off with the flair investors and aficionados of the company's electric vehicles (EVs) have come to expect. CEO Elon Musk hitched a ride on to the event's stage on a Tesla Semi, an electric Class 8 semi truc
Volkswagen will decide by early February whether it needs a new factory to build its upcoming electric Trinity model, brand chief Thomas Schaefer said in an interview with local newspapers in Wolfsburg on Tuesday.
Microsoft Corp recently considered building a "super app" that could include shopping, messaging, news and web search services among others, The Information reported on Tuesday, citing people familiar with the matter.
Tesla, Inc.’s TSLA shares fell 6.4% on reports emerging that it was planning to cut the December output of its Model Y at its Shanghai plant by more than 20% compared to last month.Shares of Amazon.com, Inc. AMZN slid 3.3% as growth stocks plunged on fears of a recession.
The NASDAQ 100 Pre-Market Indicator is up 13.58 to 11,800.38. The total Pre-Market volume is currently 30,608,428 shares traded.The following are the most active stocks for the pre-market session: Gossamer Bio, Inc. (GOSS) is -5.74 at $3.55, with 7,593,236 shares traded. As repo
Electric vehicle (EV) stocks may be taking a hit right now, but there are plenty of reasons to still be optimistic about the EV industry's long-term prospects.
The total value of the cryptocurrency market opened at $760 billion in 2021 and soared to an all-time high of $2.9 trillion later that year. This year, it has given back nearly all of those gains and sits at about $850 billion as of this writing.
Japanese electronics and entertainment conglomerate Sony Group Corp said on Tuesday it has the technology to make humanoid robots quickly once it has identified how they could be effectively used.
Elon Musk has legions of fans who have been happy to indulge his whims, but the World’s Richest Man also has plenty of detractors. Hardly any have been as outspoken in their distrust of Musk as GLJ Research’s
Gordon Johnson.
The analyst has not been shy in laying out the reasons why investors should stay away from
Tesla (
TSLA)
and now Johnson has compiled a list of “Musk promises that weren’t achieved (or, in layman terms, lies).”
These range from broken Twitter pledges (not to ban anti-fascist accounts from the platform, claiming child safety on Twitter was his highest concern even though “images of exploited children can be found all over the app after he gutted the child safety team,”) to his more outré promises such as pledging to donate $6 billion to alleviate world hunger (didn’t happen), land a man on Mars by 2021 (nope), and put 1 million robotaxis on the road in 2020 (uh uh) to the Boring Company bailing out on projects to “Autopilot mistruths” such as his proclamation in January 2017 that it would be 3 to 6 months before Tesla had full autopilot. “Beta was just released this year and has serious problems,” Johnson notes scathingly.
“Why isn’t anyone in the media focused on detailing any of this?” he asks. “Seems like a BIG story, no?”
Johnson thinks the fawning over Musk is a case of not wanting to see reality for what it is, although the analyst notes that might be changing.
“In many ways,” Johnson explains, “it seems E. Musk’s approach is defined by people investing in a dream (and everyone in the media covering each one of these false promises as if they are FACT), a false promise, and he maintains this house of cards quite well, although the massive decline of Tesla stock this year might show that this is coming to an end. It also might explain his erratic behavior.”
It’s hardly surprising to learn, then, that Johnson has a Sell rating for TSLA shares, backed by a $73 price target. The figure implies ~62% downside from current levels. (To watch Johnson’s track record,
click here
)
Johnson is the Street’s most prominent bear and while 2 others join him in the naysayer group, with the addition of 18 Buys and 8 Holds, the stock claims a Moderate Buy consensus rating. In contrast to Johnson’s take, there’s plenty of upside projected here; at $303.72, the average target suggests shares will climb 64% higher in the year ahead. (
See Tesla stock forecast on TipRanks)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
U.S. markets ended Monday lower, as investors spooked by better-than-expected data from the services sector re-evaluated whether the Federal Reserve could hike interest rates for longer, while shares of Tesla slid on reports of a production cut in China.
U.S. markets ended Monday lower, as investors spooked by better-than-expected data from the services sector re-evaluated their thinking on the Federal Reserve's interest rate policy, while shares of Tesla slid on reports of a production cut in China.
The main U.S. benchmarks dropped on Monday as investors fretted that better-than-expected service-sector activity could point to the Federal Reserve hiking interest rates for longer, while shares of Tesla slid on reports of a production cut in China.
What happened
Nio (NYSE: NIO) stock spiked Monday morning, but it didn't take long for it to reverse course. The volatility shows just how dynamic the economic situation is in China. Shares of the Chinese EV maker jumped nearly 7% after the market opened, but by 12:40 p.m. ET, Ni
The first electric delivery trucks rolled off production lines at BrightDrop's new factory in Canada on Monday, when the upstart unit of General Motors Co also announced DHL Express Canada as its first customer outside the United States.
The first electric delivery trucks rolled off production lines at BrightDrop's new factory in Canada on Monday, when the upstart unit of General Motors Co also announced DHL Express Canada as its first customer outside the United States.
U.S. stock indexes fell on Monday after better-than-expected service-sector activity added to jitters that the Federal Reserve might continue to hike interest rates for longer, while shares of Tesla slid on reports of a production cut in China.
Editor's note: The Reuters article reporting that two people in the know had claimed that Tesla would likely cut production of its Model Y mass-market SUV by more than 20% in December has been updated to note that in response to Reuters' request for comment a "Tesla representativ
It’s very early in a new trading week, but this is no way to sustain a holiday-season stock-market rally. Last week, we saw indices all moving higher — from +0.67% on the Dow to +1.72% on the S&P 500 and +2.43% on the Nasdaq. But this morning, market participants are
Wall Street's main indexes fell on Monday after better-than expected service-sector activity added to jitters that the U.S. Federal Reserve might continue on its aggressive policy tightening path despite fears of a recession next year.