|Day's range||178.25 - 181.78|
Polestar, the premium electric vehicle maker owned by China's Geely, plans a big expansion of its showroom network in the mainland, sources said, as it prepares for delivery of cars to compete with Tesla Inc's <TSLA.O> locally made Model 3. Showroom strength is becoming an important differentiator for electric vehicle (EV) makers in the world's biggest auto and EV market, as they line up new model launches. Polestar, which plans to deliver Polestar 2 electric sedans in China from July, currently has one showroom, in the capital Beijing.
SpaceX and NASA’s historic human spaceflight proves what space investors are betting on — commercial companies that can lower the cost to access space.
A partnership between the National Aeronautics and Space Administration and privately held launch company SpaceX was responsible for sending two astronauts to the International Space Station. The news lifted shares of two other companies, Tesla (NASDAQ: TSLA) and Virgin Galactic Holdings (NYSE: SPCE), for related but somewhat different reasons. Tesla shares rose almost 6% Monday morning, reaching their best level since their February all-time highs.
Shares of Amyris (NASDAQ: AMRS) soared as much as 20.9% today after an article on Seeking Alpha suggested the synthetic biology company could be the next Tesla. On the one hand, what investor wouldn't want to own the next Tesla? Shares of the electric vehicle manufacturer and energy pioneer have jumped 3,570% since the initial public offering (IPO).
Nissan (NSANY) incurs fiscal 2019 loss of 671.2 billion yen, which marks the worst in two decades. Meanwhile, AutoZone (AZO) tops fiscal Q3 earnings estimates despite coronavirus woes.
Take a look at the most recent survey we conducted with a bunch of venture capitalists about mobility and what areas interest them most. A photo below, courtesy of Cris Moffitt, shows a sliver of the thousands of bikes at the yard in North Carolina. Keaks (Kirsten Korosec) has been working on a big(ish) story about JUMP for the last week.
O'Reilly (ORLY) well poised to benefit from expanding its business through store openings and buyouts amid the coronavirus pandemic.
Tesla blasted higher, clearing an 869.92 cup-with-handle buy point. The successful SpaceX launch was a trigger for Tesla, but the stock has been trading tightly for a few weeks.
Since even before its IPO, top electric-car maker Tesla (NASDAQ: TSLA) has faced tough questions about its future. After that, they were skeptical about the economics of manufacturing a mass-market electric car. Throughout it all, Tesla's reputation, its footprint, and -- for the most part, anyway -- its share price grew and grew and grew (as did its debt load; more on that later).
The mission is a milestone in Musk’s drive to make space travel less expensive, marking the first time a commercially developed spaceship will have carried Americans into orbit.
The Tesla CEO's aggressive criticism of stay-at-home orders could alienate wealthy coastal liberals, who make up the brand's core demographic.
Tesla (TSLA) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
If you think Zoom Video Communications is overvalued, has no moat, and has security issues, just remember that these are all issues Tesla had to overcome as well to deliver amazing shareholder returns.
Tesla (TSLA) closed the most recent trading day at $805.81, moving -1.76% from the previous trading session.
The fortified alliance among Renault (RNLSY), Nissan (NSANY) and Mitsubishi focuses more on efficiency and competitiveness than on volumes.
In a surprise move, electric-car maker Tesla (NASDAQ: TSLA) cut the prices of some of vehicles by as much as 6% this week. While investors can't know for sure exactly what spurred the decision for the price decrease, it almost certainly reflected an effort to increase demand for its vehicles. Further, it's possible that price cuts also reflected improved manufacturing costs.
As we've seen recently, the Dow Jones Industrial Average (DJINDICES: ^DJI) had larger gains than the broader market, but the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) also managed to pick up ground. Among individual stocks, Tesla (NASDAQ: TSLA) shares were surprisingly little changed, even after the electric automaker announced a move that made some fear that vehicle demand could be weaker than previously believed. Tesla shares were up a fraction of a percent Wednesday following news overnight that the automaker had chosen to cut prices of some its vehicles.
What happened Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher amid a broad-based rally on Wednesday afternoon, after a JPMorgan analyst upgraded the stock ahead of Thursday's earnings report.
(Bloomberg) -- Tesla Inc.’s overnight price cuts suggest the coronavirus is putting a bigger damper on demand than has been reflected in the electric-car maker’s share price.The $5,000 reductions for the Model S and X and $2,000 cut for the Model 3 were an “acknowledgment that Tesla isn’t immune to material North American demand weakness,” Craig Irwin, an analyst at Roth Capital Partners, said in a report Wednesday.“With the stock trading in the stratosphere,” Irwin wrote, “the key question is, ‘Can Tesla continue to deliver an interesting growth rate in the U.S.?’”Credit Suisse’s Dan Levy said the discounts change the narrative around the company’s volume this quarter. Prior to the price cuts, investors were concerned demand would be limited by tight inventory. The company shut down production at its lone U.S. auto plant on March 23 and rushed to reopen the facility -- initially without local authorities’ permission -- in mid May.Chief Executive Officer Elon Musk tweeted at the beginning of the month that Tesla’s shares were trading too high in his view. While the tweet dragged down the stock on May 1, it advanced another 18% through Tuesday’s close. While analysts have speculated the company’s sales will hold up better than the broader industry, forecaster IHS Markit is projecting at least a 22% contraction in global auto deliveries this year.“Price cuts are likely tactical and aimed at supporting demand in the U.S. in the context of today’s pandemic,” Pierre Ferragu, the New Street Research analyst whose $1,100 price target for Tesla’s stock is the highest on Wall Street, wrote in a report. He said the Model 3, X and S “all have reached their full potential in the U.S.”Tesla erased earlier declines to trade up 0.2% to $820.66 as of 3 p.m. in New York. The stock has almost doubled this year.Read more: Costly Electric Vehicles Confront a Harsh Coronavirus Reality(Updates with New Street Research report in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg Opinion) -- Amazon.com Inc.’s interest in acquiring a self-driving car pioneer is the prime example (pun intended) of how expectations for driverless vehicles have been recalibrated.The e-commerce giant is in advanced talks to buy Zoox Inc. for less than the $3.2 billion at which it was valued in 2018, the Wall Street Journal reported on Tuesday. Given the California-based startup’s approach to autonomous cars, its fate is particularly instructive.In a very crowded field, Zoox was practically alone in aiming to build a whole new kind of electric-powered vehicle, and to operate the fleet itself. Peers such as Alphabet Inc.’s Waymo, General Motors Co.’s Cruise unit, Ford Motor Co. and Volkswagen AG’s joint venture Argo AI, and Aurora Innovations Inc. have focused solely on developing the self-driving technology that could subsequently be fitted into vehicles.Zoox wanted to be Tesla Inc., Waymo and Uber Technologies Inc. all rolled into one.Back in 2015, that seemed like an attractive proposition. If the triple threat to the automotive industry was autonomous technology, electric drivetrains and ride-hailing, why not embrace all three? After all, there were expectations that by 2020 robotaxis would ferry you around the world’s metropolises. Capital flowed into self-driving car startups, typified by the $1 billion GM spent acquiring Cruise in 2016.Those dreams, needless to say, have failed to materialize. Companies that had aimed to jump straight to the fourth of five levels of autonomy have quietly downshifted. (The first level of self-driving encompasses driver-assistance functions such as cruise control, and the fifth is full automation.) Bloomberg New Energy Finance doesn’t expect vehicles with Level Four automation to start gaining traction until 2034. Even then, they will likely represent just 831,000 of the 95 million-unit global car market that year.What’s more, the expense of developing, building and operating a fleet of self-driving cars would be considerable. Even deep-pocketed Alphabet and GM have sought outside investment for their efforts. Established carmakers are meanwhile focusing their capital on electric cars, a more imminent threat. And owning and operating a fleet is expensive too. Zoox had a tough sell to investors: In 15 years’ time, it might have been an attractive business.Which brings us to Amazon. Even if robotaxis aren’t coming any time soon, there are alternative applications for autonomous technology that fall squarely in the Seattle-based firm’s wheelhouse, namely, logistics. Given Amazon’s shipping costs are set to hit $90 billion a year, tech from Zoox could help save $20 billion in shipping costs, according to Morgan Stanley analysts. Its solutions could be used across warehousing and distribution. Buying Zoox could take Amazon's other moves in this field — an existing investment in Aurora and experiments with self-driving truck specialist Embark and electric vanmaker Rivian — to a whole new level.Amazon has become the fantasy acquirer for any number of companies seeking a soft landing: theater chains, brick-and-mortar retailers, food deliverers, mobile carriers, real estate brokers, dental suppliers, film studios and plenty more besides.Sometimes, just sometimes, those deals make sense. Zoox is one of them.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.