Nasdaq TSLA Tesla

General Motors Co said late on Friday it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company.

With the U.S. midterm elections less than two weeks away, Elon Musk's $44 billion acquisition of Twitter could unleash a fresh wave of election misinformation just as voters are casting ballots that will determine control of Congress for the next two years, political and media experts say.

General Motors Co said late on Friday it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company.

A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next week's much-anticipated two-day policy meeting of the Federal Reserve.

A robust, broad-based rally sent Wall Street to a sharply higher close on Friday as encouraging economic data and a rosier earnings outlook boosted investor risk appetite ahead of next week's much-anticipated two-day policy meeting of the Federal Reserve.

What happened Tesla (NASDAQ: TSLA) shares are ending a good week on a positive note. The stock was 1.1% higher as of 3:15 p.m. ET, bringing its weekly gain to more than 6.5%. While the overall market is also surging today, there's a good explanation for why Tesla shares would mov

Mere hours after Elon Musk kicked off a new era at Twitter Inc, the billionaire owner was deluged with pleas and demands from banned account holders and world leaders.

A robust, broad-based rally sent Wall Street stocks surging on Friday, as encouraging economic data and a rosier earnings outlook buoyed investor risk appetite ahead of next week's much-anticipated two-day policy meeting of the Federal Reserve.

Wall Street indexes jumped on Friday, buoyed by upbeat results from Apple, with investors hoping that some signs of economic weakness would lead to the U.S. Federal Reserve slowing down the pace of its interest rate hikes soon.

With the U.S. midterm elections less than two weeks away, Elon Musk's $44 billion acquisition of Twitter could unleash a fresh wave of election misinformation just as voters are casting ballots that will determine control of Congress for the next two years, political and media experts say.

Mere hours after Elon Musk kicked off a new era at Twitter Inc, the billionaire owner was deluged with pleas and demands from banned account holders and world leaders.

Rapper Kanye West's Twitter profile, which was suspended for posting anti-Semitic remarks, appeared to be back up on the platform, a day after billionaire Elon Musk took ownership of the social media company following his $44 billion deal.

For years, the stories of electric vehicle (EV) manufacturer Tesla (NASDAQ:TSLA), social media and metaverse business Meta Platforms (NASDAQ:META), and e-commerce giant Amazon (NASDAQ:AMZN) were tales of unencumbered growth. Yet, as they say on Wall Street, trees don't just grow straight to the heavens. Sooner or later, even the biggest companies must encounter setbacks - and when they're gigantic corporations, the losses can be absolutely staggering.

In other words: The bigger they are, the harder they fall. Granted, we might not feel too sorry for multi-billionaires like Tesla CEO Elon Musk, Meta Platforms CEO Mark Zuckerberg, and Amazon Executive Chairman Jeff Bezos when they sustain financial losses. After all, they still have massive hoards of money and property; they'll be just fine, no doubt, even after losing billions of dollars.

Meta Platforms Gets Kicked Out of the Trillion-Dollar Club

A while back, you might have read news reports about the "trillion-dollar club," which companies could join if their market caps reached a trillion dollars. It's mind-blowing to think that this club even exists, but high dollar inflation and corporate growth mean that a trillion-dollar valuation is within reach in the 2020s.

However, getting into the trillion-dollar club is one thing; staying in the club is another matter entirely. Reportedly, the tech-stock rout was so bad that Meta Platforms (a.k.a. Facebook) - which was among the five most valuable businesses in the U.S. and had a trillion-dollar market cap last year - is now worth around $270 billion.

That's a stunning $730 billion loss in just a year's time, and META stock is currently trading at its lowest price since early 2016. Is it possible that Zuckerberg's big bet on the metaverse isn't working out as planned?

Amazon and Tesla Lose Billions, Too

Zuckerberg isn't the only tech mogul to see billions wiped out. Bezos' net worth plunged from its $214 billion peak in July 2021 to around $111 billion. This represents a mind-numbing $103 billion capital loss.

Meanwhile, Musk lost over $100 billion during the past 12 months - but again, no one's throwing any pity parties as Musk is still the world's richest person. Thus, between Zuckerberg, Bezos, and Musk, we can account for a net-worth loss totaling $941 billion.

These losses have also been reflected in the share prices of TSLA, AMZN, and META stock. So, before you send flowers and a get-well card to these billionaire owners, be sure to check your investment portfolio, as you might be in dire financial straits yourself.

What Do Analysts Think about META, AMZN, and TSLA Stocks?

Turning to Wall Street, analysts still have positive views on META, AMZN, and TSLA stocks. As per the picture below, you can see that Amazon has a Strong Buy consensus rating, whereas the other two have a Moderate Buy rating. Their price targets are as follows:

• META - $146.48 (45.84% upside)
• AMZN - $165.45 (67.12% upside)
• TSLA - $292.89 (33.3% upside)

Disclosure

Wall Street's main indexes rose on Friday as a jump in shares of Apple on upbeat results provided enough of a boost to outweigh a dour warning from Amazon.com.

Motley Fool contributor Zane Fracek explains why he is doubling down on Tesla (NASDAQ: TSLA) stock. For three key reasons, this high-growth EV stock is not as risky as many investors think.

Tesla's (NASDAQ:TSLA) recent decline is reminiscent of the tech sector during the Great Recession. TSLA stock hit an all-time high of $414 last year but now trades closer to its 52-week lows. Investors may have been quick to judge Tesla, but there are plenty of reasons why people should hold onto its shares for the long haul. Though it missed revenue estimates for the third quarter, it produced record results across business units. Hence, we're bullish on TSLA stock.

The EV giant has had an amazing year. It recently opened up two new Gigafactories that will double its previous annual production capacity from 1 million to 2 million cars. Recent comments by its maverick CEO, Elon Musk, suggested that the company is just starting with its global domination.

With 12 additional Gigafactories, Tesla will produce 20 million cars annually by 2030. Analysts predict that this will bring in about $120 billion in revenue in 2023. It's hard to say if Tesla can maintain its market share in the long run with so many new entrants making their presence felt in the EV space. However, its incredible brand equity in the space positions it as a clear frontrunner in the sphere.

Plenty of Bright Spots in the Third Quarter for Tesla

Tesla delivered mixed results in its third quarter. Revenue increased 56% from the prior-year period to $21.45 billion, missing analyst estimates by a considerable margin. The miss was due to increased foreign exchange headwinds, with the U.S. Dollar faring much better than other currencies. Nevertheless, there were plenty of bright spots.

Despite the economy being on an inflationary rollercoaster, Tesla's operating expenses only grew by 2% to $1.69 billion. It also etched out a 17.2% operating margin driven by higher average selling prices. Tesla's Adjusted EBITDA increased by 55% over the past year and now stands at $4.97 billion, while overall net income was up a staggering 103%. Earnings per share also rose by 98% from the same period last year.

Its core growth driver was an increase in vehicle deliveries, which shot up 42% year-over-year to 343,830 vehicles and a 54% bump in production levels. Tesla's market share is under 2% in the European and Chinese regions, so there's still plenty of room for expansion. Even a small increase in market share could result in a massive sales windfall for the company.

Tesla Stock Has Multiple Growth Catalysts in Motion

Tesla has been steadily updating its product line with new vehicles that are revolutionizing the automotive industry. The company's latest innovation, an electric semi-truck, will start being delivered to PepsiCo (NASDAQ:PEP) on December 1. Moreover, the firm's Cybertruck is in its final design phases and should soon hit the markets. Furthermore, Musk says a lower-priced EV is coming, which will expand Tesla's passenger car offerings even further.

There is also Tesla's self-driving program, which has logged over 60 million miles from volunteers. The more miles the software logs, the better it "learns," thus improving its capabilities. This will be a crucial part of the company's robotaxi business, which would revolutionize how people move around communities by removing human intervention entirely.

In addition to vehicles, Tesla is looking into manufacturing robots. Known as Optimus bots, they could be used as replacements for human workers who are now needed more than ever before. If Tesla's new Optimus functionalities are any indication, robots could soon take over many of the low-skill jobs that companies rely on today. These automated machines can operate around the clock and do so with little human intervention, making them an ideal replacement for factory workers.

Optimus is expected to hit markets in 2027. The potential for this technology is unprecedented. With a price tag of $20,000, the opportunity is expected to generate billions in sales over time.

Is Tesla Stock a Buy?

Turning to Wall Street, TSLA stock maintains a Moderate Buy consensus rating. Out of 30 total analyst ratings, 19 Buys, seven Holds, and four Sells were assigned over the past three months. The average TSLA price target is $292.89, implying 31.57% upside potential. Analyst price targets range from a low of $85 per share to a high of $436 per share.

Bottomline: TSLA Stock is for the Long Term

Tesla has been on quite the ride these past few years, with strong results and demand that's only getting higher. Despite some mixed third-quarter financials, investors should stay committed to this company as it continues its success story. The company's stock is surprisingly undervalued, and although the macro picture may present some short-term headwinds, it presents itself as a great long-term investment.

Disclosure

The S&P 500 and the Nasdaq were set to open lower on Friday as gloomy forecasts from megacaps Amazon and Apple outweighed data that showed U.S. consumer spending increased more than expected in September.

Overspending on Twitter Inc for $44 billion was the easy part.

U.S. stock index futures fell on Friday as gloomy forecasts from megacaps Amazon and Apple heightened fears that the Federal Reserve's aggressive interest rate hikes were finally slowing the economy and could hammer corporate earnings.

If you invest in stocks, then there's a good chance you're looking at some pretty hefty paper losses right now. After all, the S&P 500 is down roughly 20% in 2022, while the Nasdaq Composite has lost 30%, so scores of investors are feeling the burn.