Tesla Reports Optimistic Outlook with Record Revenue and Orders

Tesla reported Q4 earnings after the market close Wednesday of $1.19 earnings per share beating the consensus of $1.13 per share. Revenue rose to $24.32 billion ahead of the consensus $24.16 billion. $TSLA shares rose more than 9% after CEO Elon Musk said the company might be able to produce 2 million cars this year. The Tesla company acknowledged that average sales prices have “generally been on a downward trajectory for many years,” and said “affordability” would be necessary for … Continue reading “Tesla Reports Optimistic Outlook with Record Revenue and Orders”

General Motors Takes Back U.S. Sales Crown From Toyota as Car Market Stumbles

American auto maker, General Motors Co. said Wednesday U.S. sales rose 2.5% to 2.74 million for 2022, retaking its U.S. sales crown from Toyota Motor, outselling its Japanese rival by about 165,630 vehicles last year. Toyota had overtaken GM in 2021 as the U.S.’s top-selling auto maker, largely because of semiconductor supply constraints. Toyota said its U.S. sales were down 9.6% in 2022. Ford Motor Co. plans to report 2022 sales results Thursday. Hyundai Motor reported American sales fell 2% … Continue reading “General Motors Takes Back U.S. Sales Crown From Toyota as Car Market Stumbles”

Piedmont Lithium Surges on Amended Tesla Deal for Spodumene

Piedmont Lithium amended its agreement with electric vehicle maker Tesla to deliver approximately 125,000 metric tons of spodumene concentrate (SC6) to Tesla. The deal begins in the second half of 2023 through the end of 2025 with an option to renew for an additional three years. Piedmont Lithium shares $PLL are trading higher+7.9%, with an option to renew for an additional three years. Tesla Inc. is set to pay more for the lithium after PLL amended their deal amid the … Continue reading “Piedmont Lithium Surges on Amended Tesla Deal for Spodumene”

Elon Musk’s SpaceX Valued at $137 Billion in New Funding Round

Space Exploration Technologies Corp. (SpaceX), the most valuable private company in the US, is reported to be raising $750 million in its latest funding round putting the value at $237 Billion according to a CNBC report. The company was offering the shares for $77 apiece in December according to people who asked not to be identified because the information wasn’t public. The $137 billion figure compares with a $127 billion valuation in July, according to data provider PitchBook. Andreessen Horowitz … Continue reading “Elon Musk’s SpaceX Valued at $137 Billion in New Funding Round”

S&P 500 Worst Year Since 2008 as Mega Cap Tech Stocks were Shredded

The Blue-Chip S&P 500 index had a dismal year, down 19.4% in 2022, it was the worst performance since 2008. The benchmark index saw one new high in 2022, January 3 with the now infamous January 5 FOMC minutes from the Federal Reserve putting paid to anymore for the year. By comparison the S&P 500 clocked 70 fresh record highs in 2021. Trailing only 1995 with 77 closing highs. Last year energy companies Devon and Marathon were the top two … Continue reading “S&P 500 Worst Year Since 2008 as Mega Cap Tech Stocks were Shredded”

Tesla Used Cars the Last Domino to Fall in Stock and Branding Rout

Tesla was the green technology, electric vehicle and ESG golden child run by the world’s living genius, then it all come back to earth swiftly. There are many facets of this fall, the last domino appears to be Tesla vehicles resale value. Used car prices in the US have gone from hyperinflation to deflation very quickly in 2022. In November’s CPI the used cars and trucks index declined 2.9% month-over-month and was down 3.3% year-over-year. However, used car prices this … Continue reading “Tesla Used Cars the Last Domino to Fall in Stock and Branding Rout”

US Tech Billionaires Added $59 Billion in Richest Day Ever as Nasdaq Surged 7.5%

The markets reacted dovishly to the US CPI moderating after resurging in August with aggressive Fed interest rate rises. The repricing of risk was furious, plunging Treasury yields a weakening dollar and big gains in mega cap stock. The Vanguard Mega Cap Growth ETF (MGK) closed up 8.0%. The Nasdaq soared +654.23 or 6.36%. The big winners were the big Techs, Amazon, Google, Microsoft, Apple and even beaten down Tesla. US tech Bloomberg billionaires’ fortunes rose $59 billion, a one-day record … Continue reading “US Tech Billionaires Added $59 Billion in Richest Day Ever as Nasdaq Surged 7.5%”

Tesla Revenues Miss, Margins Decline on Strong US Dollar on Production and Delivery Bottlenecks

Tesla reported Q3 earnings after the market close Wednesday of $1.05 earnings per share beating the consensus of $0.99. Revenue rose to $21.5 billion but missed analysts’ projections of $21.96 billion. $TSLA cited the higher US dollar and higher costs related to a slower-than-expected ramp up in output at the new factories in Austin and Berlin. Additionally, there was difficulties shipping vehicles. Tesla expects to begin delivering the new Semi Truck in December. Tesla shares fell after hours to $214.83 −$7.21 or … Continue reading “Tesla Revenues Miss, Margins Decline on Strong US Dollar on Production and Delivery Bottlenecks”

Tesla Earnings Beat but Margins Decline, sold $936 Million Bitcoin to Raise Cash

Tesla reported Q2 earnings after the market close Wednesday. $TSLA beat by $0.46 and reported revenues in-line and reaffirmed the expectation to achieve 50% average annual growth in vehicle deliveries over a multi-year horizon. The company posted its first sequential decline in quarterly profit in more than a year impacted by an extended shutdown at its Shanghai assembly plant. Tesla also announced they sold 75% of its digital holdings of Bitcoin when freed up around $1 billion in cash. CEO … Continue reading “Tesla Earnings Beat but Margins Decline, sold $936 Million Bitcoin to Raise Cash”

VW Closing the Gap on Tesla in The Great EV Race

Volkswagen has been quietly moving along closing the gap with Tesla as the leading maker of electric cars. VW is in a solid place behind Tesla on EVs and making progress on battery production, charging infrastructure and software, Chief Executive Officer Herbert Diess said Wednesday at a tech conference in Berlin. In Europe we have already seen Tesla go from number one at 33% EV market share in 1919 to just 10% market share and 5th place. However, VW had a 47% EV … Continue reading “VW Closing the Gap on Tesla in The Great EV Race”