Nasdaq TSLA Tesla

U.S. electric vehicle maker Tesla Inc said on Tuesday it had established a site in China to store car data locally, as automakers come under growing scrutiny over how they handle information collected by vehicle cameras and sensors.

U.S. electric vehicle maker Tesla Inc said on Tuesday it has established a data centre in China to store car data locally.

If you have any interest in the financial world, you've heard a lot about Dogecoin (CRYPTO: DOGE) lately. The cryptocurrency that began as a joke between two software engineers back in 2013 has taken on a life of its own.

For the past 15 months, investors have borne witness to history on Wall Street. They navigated their way through the quickest bear market decline of at least 30% on record -- a loss of 34% for the benchmark S&P 500 (SNPINDEX: ^GSPC) in 33 calendar days -- and have enjoyed the str

A court in Norway has found Tesla (TSLA) guilty of using a software update to slow the charging speed and reduce the driving range of its electric cars. Tesla stock jumped 4.40% on Monday to close at $606.44.

In 2019, Tesla released a software update for its cars. Soon after, some drivers started noticing a drop in charging speed and a decline in range. Some lost as much as 30 miles in range. The problems mainly were reported by owners of old Model S cars produced between 2013 and 2015.

When the complaints started emerging, Tesla explained that the software update causing the problems was intended to protect the battery and improve its life. It also said that only a handful of cars had been affected.

The affected drivers sued the company in several countries worldwide, including the U.S., Norway, and Denmark. In Norway, Tesla has been asked to pay 136,000 kroner (around $16,000) to each of the affected customers.

As there are more than 10,000 Model S cars likely affected in Norway, the company could have to part with $160 million to compensate the drivers. Tesla is required to pay the fine by May 31 or appeal the decision by June 17. (See Tesla stock analysis on TipRanks)

Wells Fargo analyst Colin Langan initiated Tesla stock coverage with a Hold rating and a price target of $590. Langan’s price target suggests 2.71% downside from the current price.

Langan believes the stock's price accounts for the 12 million deliveries Tesla plans by early next decade. He is concerned, however, that the market will not be able to absorb all the cars that Tesla and other EV manufacturers are planning to deliver.

Consensus among analysts on Wall Street is a Hold based on 10 Buy, 8 Hold, and 7 Sell ratings. The average analyst price target of $645.88 implies 6.50% upside potential to current levels.

TSLA scores a 7 out of 10 on TipRanks’ Smart Score rating system, suggesting the stock’s returns are likely to align with the market's performance.

Related News:
Square Partners with Plaid on ACH Payment for Merchants
Tinder Partners with White House to Accelerate COVID-19 Vaccinations
Intel, SK Hynix Win EU Approval for Memory Unit Sale

Cryptocurrencies have had a tough time recently. After reaching its peak of around $4,200 per token in mid-May, the price of Ethereum (CRYPTO: ETH) has plummeted by more than 40% over the past week.

Investors enjoyed broad-based gains on Monday as the market pendulum again swung in the bulls' direction, despite a quiet day on both the news and data fronts.

What happened Shares of electric car company Tesla (NASDAQ: TSLA) surged higher on Monday. Shares were up about 5.7% as of 3:30 p.m. EDT.

(RTTNews) - Bernard Arnault, Chairman, and CEO of French luxury fashion retail chain Luis Vuitton Moet Hennessy or LVMH, has become the richest man in the world with an estimated net worth of $186.3 billion on Monday.

The most quoted reason for investing in companies that are socially, environmentally, and ethically responsible, a practice known as ESG investing, is that it is the right thing to do. But it's also profitable.

Should You Be Investing In EV Stocks Despite Its Recent Weakness? Electric vehicle (EV) stocks have been some of the hottest stocks in the stock market for the past years. Regardless of the performance of the stocks of the companies in the industry, EV stocks remain a hot to

HSBC has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers, because they are too volatile and lack transparency, its Chief Executive Noel Quinn told Reuters.

State-owned Indonesia Battery Corporation (IBC) and South Korea's LG will build a new battery plant worth $1.2 billion with the capacity of 10 gigawatt hours (GWh), Indonesia's investment minister said on Monday.

Cryptocurrencies fought back on Monday, retaking ground lost during a bout of weekend selling that was fuelled by further signs of a Chinese crackdown on the emerging sector.

A fundamental concept to understand if you're looking to make money is the relationship between risk and reward. While we might all want investments that offer high rewards for low risk, we're not likely to find many of them. Instead, there are low-risk, low-reward options such a

HSBC has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers, because they are too volatile and lack transparency, its Chief Executive Noel Quinn told Reuters.

According to a Wall Street Journal report, Tesla (TSLA) is considering setting up a manufacturing plant in Russia. Tesla makes electric cars and has four models on the market.

The company currently has manufacturing sites in the U.S. and China but wants to open production sites in other parts of the world, and Russia is seriously under consideration.

“I think we are close to establishing a Tesla presence in Russia,” said CEO Elon Musk at a Kremlin-sponsored educational event.

There are 700 Tesla cars registered in Russia, representing 6% of the 11,000 electric cars registered in the country as of the beginning of 2021.

Although the Russian electric car market is currently small, it is expanding rapidly. Bolstered by the elimination of import taxes, the number of electric cars registered in the country has increased 71% over the past year, according to Autostat data.

Russia lacks a major homegrown electric car maker. Nissan currently has the lead with about 9,000 units of its Nissan Leaf model registered in the country.

A major obstacle to electric car uptake in Russia is limited charging infrastructure, as there are only about 400 charging stations in the country. In addition to Russia, Tesla is also considering setting up a production site in Kazakhstan. (See Tesla stock analysis on TipRanks)

Morgan Stanley analyst Adam Jonas maintained a Buy rating with a price target of $900 on Tesla stock. Jonas’ price target suggests 54.94% upside potential.

“We believe the pullback provides an emerging opportunity for investors to increase exposure to Tesla,” noted Jonas.

Consensus among analysts on Wall Street is a Hold based on 10 Buy, 7 Hold, and 7 Sell ratings. The average analyst price target of $648.30 implies 11.61% upside potential to current levels.

TSLA scores a 7 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock’s returns are likely to align with the market's performance.

Related News:
Alphabet’s Waymo Raising $4B Amid IPO Talks – Report
Ford and SK Innovation Ink Battery Cell Manufacturing Joint Venture
Nuvve Plans $750M Joint Venture with Stonepeak; Stock up 31%

General Motors Co strengthened relations with its suppliers last year despite the impact of the COVID-19 pandemic and the global semiconductor chip shortage, according to an annual North American survey released on Monday.

The dollar stood near its lowest level in three months against a resurgent euro, and traders pared earlier bets the Federal Reserve may move soon to taper its stimulus though markets were not fully convinced that higher U.S. inflation is transient.

The dollar stood near its lowest level in three months against a resurgent euro, struggling for traction as investors pared earlier bets the U.S. Federal Reserve may soon be ready to taper its stimulus.