Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levels

An analyst for a firm with a major investment in Tesla said Friday that recent drastic price-target cuts on the stock by others on Wall Street are missing the big picture. Tasha Keeney, an Ark analyst, said in an interview on CNBC’s “Squawk Box” that Wall Street is “misunderstanding the Tesla story” and the potential upside of Elon Musk’s vision. This week, Morgan Stanley put a worst-case of $10 per share on Tesla. The electric vehicle maker began the month saying it would raise more than $2 bil


An analyst for a firm with a major investment in Tesla said Friday that recent drastic price-target cuts on the stock by others on Wall Street are missing the big picture. Tasha Keeney, an Ark analyst, said in an interview on CNBC’s “Squawk Box” that Wall Street is “misunderstanding the Tesla story” and the potential upside of Elon Musk’s vision. This week, Morgan Stanley put a worst-case of $10 per share on Tesla. The electric vehicle maker began the month saying it would raise more than $2 bil
Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levels Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: matthew j belvedere
Keywords: news, cnbc, companies, misunderstands, ark, value, price, month, street, target, triple, musk, stock, billion, vehicles, share, tesla, levels, current, lowest, wall


Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levels

An analyst for a firm with a major investment in Tesla said Friday that recent drastic price-target cuts on the stock by others on Wall Street are missing the big picture.

Ark Invest, whose founder predicted on CNBC last year that Tesla could hit $4,000 per share, stands by that call, even as the stock has lost about 40% of its value in 2019.

Tasha Keeney, an Ark analyst, said in an interview on CNBC’s “Squawk Box” that Wall Street is “misunderstanding the Tesla story” and the potential upside of Elon Musk’s vision. Musk’s accomplishments are widely acknowledged, but he’s gotten himself and Tesla into trouble with the government over his comments, stemming from an August tweet about possibly taking the company private with “funding secured.”

Keeney said Ark believes so strongly in Tesla that its five-year, bear-case scenario is $560 per share, which would be nearly triple the value of where the stock closed Thursday at $195.

This week, Morgan Stanley put a worst-case of $10 per share on Tesla. A day later, Citigroup said the stock could fall to $36 per share.

Tesla has always been a battleground stock as one of the most loved and hated. Tesla is also one of the most shorted stocks. Shorting a stock is a bet that it will go down.

The electric vehicle maker began the month saying it would raise more than $2 billion through stock and convertible debt. The company’s cash burn and need to repeatedly raise money has been a concern among its detractors.

Keeney, however, said Ark is not troubled by additional fundraising. “If we talk about cash, and those worries, in our valuation model we actually expect, we have Tesla raising an additional $10 billion to $20 billion in the next five years. And we’re actually OK with that.”

“We want them to get as many cars on the road as possible” with the next step of running a “fully autonomous taxi network.” Last month, Musk promised 1 million vehicles on the road next year that are able to function as “robo-taxis,” a claim that was generally thought to be optimistic, at best.

On an investor call earlier this month, two of the invitees told CNBC that Musk predicted autonomous driving will transform Tesla into a company with a $500 billion stock market value. As of Thursday’s close, Tesla’s market cap was just over $34 billion.

Keeney admits that Musk sets “extremely aggressive goals” and often falls short. “But in doing that, in sort of pushing to that target, they’ve been able to achieve the impossible so far.”

She also countered the argument that demand for Tesla vehicles is waning. “Sixty-nine percent of the trade-ins for the Model 3, for the standard range version, were non-premium vehicles. So they are pulling in demand from other segments. They outsold their next best competitor by 60% in the premium vehicle segment.”

“People clearly like these cars for a good reason. Tesla has a software advantage that no one else can beat,” she added.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: matthew j belvedere
Keywords: news, cnbc, companies, misunderstands, ark, value, price, month, street, target, triple, musk, stock, billion, vehicles, share, tesla, levels, current, lowest, wall


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Tesla bounces after hitting 52-week lows — what 4 experts are watching now

Morgan Stanley’s worst-case scenario had Tesla shares dropping to $10, while Citi saw a 40% chance of the stock falling to $36. So, the automotive guys are about making money, so selling units is very important, but the profitability and the margins and the dollar margins [are] very, very important. If we see a go-slow from the automotive guys, the traditional automotive guys, continue to be the status quo, that would end up being positive for Tesla.” Any company that’s losing billions of dollar


Morgan Stanley’s worst-case scenario had Tesla shares dropping to $10, while Citi saw a 40% chance of the stock falling to $36. So, the automotive guys are about making money, so selling units is very important, but the profitability and the margins and the dollar margins [are] very, very important. If we see a go-slow from the automotive guys, the traditional automotive guys, continue to be the status quo, that would end up being positive for Tesla.” Any company that’s losing billions of dollar
Tesla bounces after hitting 52-week lows — what 4 experts are watching now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: lizzy gurdus
Keywords: news, cnbc, companies, guys, analyst, hitting, stock, watching, lows, value, bounces, company, automotive, teslas, thats, tesla, 52week, experts, week


Tesla bounces after hitting 52-week lows — what 4 experts are watching now

This week has been a wild ride for Tesla shares.

The stock made new 52-week lows on Wednesday and again on Thursday following two bearish analyst notes from Morgan Stanley and Citigroup, adding to its year-to-date losses of over 40%. Morgan Stanley’s worst-case scenario had Tesla shares dropping to $10, while Citi saw a 40% chance of the stock falling to $36.

But the stock managed to bounce off its lows on Thursday, ending the day over 1% higher after CEO Elon Musk told employees the company made an average of 900 Model 3 cars per day this week. That brings Tesla closer to its stated goal of producing 7,000 cars per week.

Experts are split on what this means for the electric-auto maker. Here’s what four of them are watching now:

John Petrides, managing director and portfolio manager at independent advisory firm Point View Wealth Management, wasn’t thrilled about the company’s prospects:

“As a value manager, I don’t see value in the company yet. I mean, the valuations are still too high. You have a company burning through cash flow, they have balance sheet issues, you have a wildcard of a CEO, you have board members not seeking reelection. I mean, you finally have the shine … coming off the car. And that’s what you’re seeing happening in the stock right now, and it’s still unattractive for my taste.”

Roth Capital Partners’ Craig Irwin, a senior research analyst who covers Tesla for the firm, said the company still stacks up fairly well against its more staid competitors:

“Culturally, Tesla’s a very different company than the automotive guys that they compete with, right? So, the automotive guys are about making money, so selling units is very important, but the profitability and the margins and the dollar margins [are] very, very important. Tesla’s about growth and going after a massive new market. If we see a go-slow from the automotive guys, the traditional automotive guys, continue to be the status quo, that would end up being positive for Tesla.”

Gabe Hoffman, founder of hedge fund Accipiter Capital Management, didn’t share Irwin’s cautious optimism:

“I believe that, ultimately, Tesla will go to zero. Any company that’s losing billions of dollars and struggling under a mountain of over $10 billion in debt and over $3 billion of current accounts payable due on the desk, that’s a real problem.”

S&P Global Market Intelligence research analyst Erin Gibbs said it’s about time the negativity around Tesla is priced into the stock:


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: lizzy gurdus
Keywords: news, cnbc, companies, guys, analyst, hitting, stock, watching, lows, value, bounces, company, automotive, teslas, thats, tesla, 52week, experts, week


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Autonomous vehicle pioneer doubles down on technology Tesla CEO Elon Musk calls ‘freaking stupid’

A pioneer in autonomous driving is doubling down on a self-driving technology called lidar that uses sensors to help navigate through traffic — just a few weeks after Tesla CEO Elon Musk called the technology “freaking stupid.” Aurora CEO Chris Urmson said his company bought Blackmore, which develops and manufactures the sensors, for an undisclosed sum. Light detection and ranging technology uses light in the form of a pulsed laser to measure the distance of objects from cars, drones and other g


A pioneer in autonomous driving is doubling down on a self-driving technology called lidar that uses sensors to help navigate through traffic — just a few weeks after Tesla CEO Elon Musk called the technology “freaking stupid.” Aurora CEO Chris Urmson said his company bought Blackmore, which develops and manufactures the sensors, for an undisclosed sum. Light detection and ranging technology uses light in the form of a pulsed laser to measure the distance of objects from cars, drones and other g
Autonomous vehicle pioneer doubles down on technology Tesla CEO Elon Musk calls ‘freaking stupid’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: phil lebeau
Keywords: news, cnbc, companies, elon, called, light, vehicle, uses, urmson, technology, freaking, pioneer, stupid, ceo, undisclosed, sensors, doubles, tesla, musk, weeks, traffic


Autonomous vehicle pioneer doubles down on technology Tesla CEO Elon Musk calls 'freaking stupid'

A pioneer in autonomous driving is doubling down on a self-driving technology called lidar that uses sensors to help navigate through traffic — just a few weeks after Tesla CEO Elon Musk called the technology “freaking stupid.”

Aurora CEO Chris Urmson said his company bought Blackmore, which develops and manufactures the sensors, for an undisclosed sum. Light detection and ranging technology uses light in the form of a pulsed laser to measure the distance of objects from cars, drones and other gadgets.


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: phil lebeau
Keywords: news, cnbc, companies, elon, called, light, vehicle, uses, urmson, technology, freaking, pioneer, stupid, ceo, undisclosed, sensors, doubles, tesla, musk, weeks, traffic


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Read Tesla CEO Elon Musk’s email to employees where he says the company made an average of 900 Model 3s per day this week

Tesla shares rose 1.4% Thursday after CEO Elon Musk sent an e-mail to all employees saying the electric vehicle maker is close to reaching its target production numbers for the Model 3 this quarter. The e-mail’s optimistic tone helped Tesla shares turn positive for the first time in seven days. In an email to employees obtained by CNBC last week, Musk stressed the need for “hardcore” measures to cut spending. Citi analysts wrote Tuesday that Tesla’s shares could fall more than 80% to $36, citing


Tesla shares rose 1.4% Thursday after CEO Elon Musk sent an e-mail to all employees saying the electric vehicle maker is close to reaching its target production numbers for the Model 3 this quarter. The e-mail’s optimistic tone helped Tesla shares turn positive for the first time in seven days. In an email to employees obtained by CNBC last week, Musk stressed the need for “hardcore” measures to cut spending. Citi analysts wrote Tuesday that Tesla’s shares could fall more than 80% to $36, citing
Read Tesla CEO Elon Musk’s email to employees where he says the company made an average of 900 Model 3s per day this week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: lora kolodny lauren feiner, lora kolodny, lauren feiner
Keywords: news, cnbc, companies, elon, company, shares, quarter, production, musks, employees, read, musk, tesla, teslas, week, day, model, email


Read Tesla CEO Elon Musk's email to employees where he says the company made an average of 900 Model 3s per day this week

Tesla shares rose 1.4% Thursday after CEO Elon Musk sent an e-mail to all employees saying the electric vehicle maker is close to reaching its target production numbers for the Model 3 this quarter.

The e-mail’s optimistic tone helped Tesla shares turn positive for the first time in seven days. The company added nearly $500 million to its market cap, reaching around $34.6 billion, in early trading on Thursday.

Here’s what Musk wrote to employees:

Subj. Exciting Goal! Date: May 22, 2109 To: Everbody As of yesterday we had over 50,000 net new orders for this quarter. Based on current trends, we have a good chance of exceeding the record 90,700 deliveries of Q4 last year and making this the highest deliveries/sales quarter in Tesla history! In order to achieve this, we need sustained output of 1,000 Model 3’s per day. Almost all parts of the Model 3 production system have exceeded 1,000 units on multiple days (congratulations!) and we’ve averaged about 900/day this week, so we’re only about 10% away from 7,000/week. If we rally hard, we can do it! Thanks for your hard work

Analysts had been losing confidence in Tesla’s stock during the past week as the company entered cost-cutting mode. In an email to employees obtained by CNBC last week, Musk stressed the need for “hardcore” measures to cut spending.

Citi analysts wrote Tuesday that Tesla’s shares could fall more than 80% to $36, citing “lingering demand/FCF (free cash flow) concerns.” In a private call with Morgan Stanley clients Wednesday, Morgan Stanley research analyst Adam Jonas said he was skeptical about the company’s ability to grow, CNBC reported.

“Tesla is not really seen as a growth story,” Jonas said on the call, which CNBC heard in a recording. Today, “It seems like a distressed credit and restructuring story.”

Loup Ventures co-founder Gene Munster gave the stock its latest downward revision Thursday. Munster expected the company would miss its delivery expectations this year especially as trade tensions drag on between the U.S. and China. He lowered 2019 delivery estimates about 10% to just 310,000 vehicles compared to guidance between 360,000 and 400,000.

While Musk’s email to Tesla employees shed a light on production progress, logistics remains another challenge for the company in meeting its second-quarter delivery goals.

In the first quarter of 2019, Musk said the increase in overseas business stressed the company’s logistics operations. Half of Tesla’s global deliveries happened in the final 10 days of the first quarter.

Subscribe to CNBC on YouTube.

Watch: How Elon Musk’s tweets might be affecting the latest price targets for Tesla


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: lora kolodny lauren feiner, lora kolodny, lauren feiner
Keywords: news, cnbc, companies, elon, company, shares, quarter, production, musks, employees, read, musk, tesla, teslas, week, day, model, email


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Don’t hold your breath waiting for Apple or Amazon to buy Tesla, Morgan Stanley analyst warns in private investor call

“Tesla is not really seen as a growth story,” Jonas said on the call, which CNBC heard in a recording. Jonas spent some time on the call responding to the hope that a big tech company like Apple or Amazon might buy Tesla. But Jonas poured cold water on the notion of a big tech acquisition today. Jonas acknowledged that Apple has interest in transportation (as do Amazon and other big tech firms). He added, “Perhaps those big tech firms don’t want to expose themselves to that up front.


“Tesla is not really seen as a growth story,” Jonas said on the call, which CNBC heard in a recording. Jonas spent some time on the call responding to the hope that a big tech company like Apple or Amazon might buy Tesla. But Jonas poured cold water on the notion of a big tech acquisition today. Jonas acknowledged that Apple has interest in transportation (as do Amazon and other big tech firms). He added, “Perhaps those big tech firms don’t want to expose themselves to that up front.
Don’t hold your breath waiting for Apple or Amazon to buy Tesla, Morgan Stanley analyst warns in private investor call Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: lora kolodny
Keywords: news, cnbc, companies, tesla, vehicle, private, hold, apple, tech, jonas, dont, buy, waiting, transportation, warns, big, company, owning, investor, stanley, morgan


Don't hold your breath waiting for Apple or Amazon to buy Tesla, Morgan Stanley analyst warns in private investor call

In an invitation-only call with institutional clients of Morgan Stanley on Wednesday, research analyst Adam Jonas — a long-time Tesla bull — expressed skepticism about the electric vehicle maker and said not to count on a buyer like Apple to bail the company out.

“Tesla is not really seen as a growth story,” Jonas said on the call, which CNBC heard in a recording. Today, “It seems like a distressed credit and restructuring story.”

Some details of the call were previously reported by Business Insider.

Jonas spent some time on the call responding to the hope that a big tech company like Apple or Amazon might buy Tesla. in a CNBC interview on Tuesday, analyst Craig Irwin of Roth Capital Partners rekindled the rumor that Apple once made a bid for Tesla.

But Jonas poured cold water on the notion of a big tech acquisition today.

He explained, “For risk mitigation and liability containment, they may not want to expose themselves to the unlimited liability of being involved in owning a business where occasionally a car catches on fire, takes down a building, or accidentally kills a pedestrian or passenger, things that happen. The auto industry has an ugly side to it. The roads are very dangerous. There’s a lot of stored energy in a vehicle. And the regulatory environment [around autonomous cars] has not had time to cure yet.”

Jonas acknowledged that Apple has interest in transportation (as do Amazon and other big tech firms). But Morgan Stanley’s tech researchers, he said, don’t expect Apple to have a service or related hardware devoted entirely to transportation until the 2030s.

He added, “Perhaps those big tech firms don’t want to expose themselves to that up front. And moreover they realize the autonomous race is more of a marathon where over a 10- or 20-year period you collect real world miles. There may be other ways to do that besides owning a full-stack, awesome, great auto company.”


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: lora kolodny
Keywords: news, cnbc, companies, tesla, vehicle, private, hold, apple, tech, jonas, dont, buy, waiting, transportation, warns, big, company, owning, investor, stanley, morgan


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Tesla shares could drop to $10 in a worst-case scenario, Morgan Stanley says

Guests look at a Tesla Model 3 during a ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019. Morgan Stanley cut its bear (worst-case) forecast on Tesla’s stock from $97 to just $10 on Tuesday, citing concerns about the company’s increased debt load and geopolitical exposure. In particular, Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products. Shares closed down 2.7% Monday, closing at $205.36, and are down 38% year-to-


Guests look at a Tesla Model 3 during a ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019. Morgan Stanley cut its bear (worst-case) forecast on Tesla’s stock from $97 to just $10 on Tuesday, citing concerns about the company’s increased debt load and geopolitical exposure. In particular, Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products. Shares closed down 2.7% Monday, closing at $205.36, and are down 38% year-to-
Tesla shares could drop to $10 in a worst-case scenario, Morgan Stanley says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: elliot smith
Keywords: news, cnbc, companies, teslas, shares, scenario, worstcase, cut, stanley, forecast, trading, drop, model, morgan, companys, stock, tesla, price


Tesla shares could drop to $10 in a worst-case scenario, Morgan Stanley says

Guests look at a Tesla Model 3 during a ground-breaking ceremony for a Tesla factory in Shanghai on January 7, 2019.

Morgan Stanley cut its bear (worst-case) forecast on Tesla’s stock from $97 to just $10 on Tuesday, citing concerns about the company’s increased debt load and geopolitical exposure.

In particular, Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products.

“Our revised bear case assumes Tesla misses our current Chinese volume forecast by roughly half to account for the highly volatile trade situation in the region, particularly around areas of technology, which we believe run a high and increasing risk of government/regulatory attention,” the research team, which included analyst Adam Jonas, said in the note.

Tesla shares fell to near $200 Monday after Wedbush cut its price target from $275 to $230 due to the potential impact of distractions from CEO Elon Musk’s “sci-fi projects” on the company’s ability to shore up demand for its core Model 3.

Shares closed down 2.7% Monday, closing at $205.36, and are down 38% year-to-date. During intraday trading Monday, the stock fell below $200 for the first time since December 2016. The stock was down 2.6% in premarket trading on Tuesday morning.

But it’s not just the Tesla bears making cautious calls. Financial services firm Baird also cut its Tesla estimates Tuesday, lowering the company’s stock to $340 from $400, while T. Rowe Price, for years one of Tesla’s biggest investors, sold around 81% of its holdings over the first three months of 2019.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: elliot smith
Keywords: news, cnbc, companies, teslas, shares, scenario, worstcase, cut, stanley, forecast, trading, drop, model, morgan, companys, stock, tesla, price


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Third fatal Tesla Autopilot crash renews questions about system

Tesla’s Autopilot system was engaged during a fatal March 1 crash of a 2018 Model 3 in Delray Beach, Florida, in at least the third fatal U.S. crash reported involving the driver-assistance system, the National Transportation Safety Board said on Thursday. Tesla said in a statement that after the driver engaged the system he “immediately removed his hands from the wheel. “This system can’t dependably navigate common road situations on its own and fails to keep the driver engaged exactly when nee


Tesla’s Autopilot system was engaged during a fatal March 1 crash of a 2018 Model 3 in Delray Beach, Florida, in at least the third fatal U.S. crash reported involving the driver-assistance system, the National Transportation Safety Board said on Thursday. Tesla said in a statement that after the driver engaged the system he “immediately removed his hands from the wheel. “This system can’t dependably navigate common road situations on its own and fails to keep the driver engaged exactly when nee
Third fatal Tesla Autopilot crash renews questions about system Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: michael sheetz
Keywords: news, cnbc, companies, driver, renews, ntsb, fatal, crash, tesla, engaged, system, vehicle, autopilot, wheel, questions, safety


Third fatal Tesla Autopilot crash renews questions about system

Tesla’s Autopilot system was engaged during a fatal March 1 crash of a 2018 Model 3 in Delray Beach, Florida, in at least the third fatal U.S. crash reported involving the driver-assistance system, the National Transportation Safety Board said on Thursday.

The crash renews questions about the driver-assistance system’s ability to detect hazards and has sparked concerns about the safety of systems that can perform driving tasks for extended stretches of time with little or no human intervention, but which cannot completely replace human drivers.

The NTSB’s preliminary report said the driver engaged Autopilot about 10 seconds before crashing into a semitrailer, and the system did not detect the driver’s hands on the wheel for fewer than eight seconds before the crash. The crash sheared off the roof as the Tesla traveled under the semitrailer.

The vehicle was traveling at about 68 miles (109 km) per hour (mph) on a highway with a 55-mph (89-kph) speed limit, and neither the system nor the driver made any evasive maneuvers, the agency said.

Tesla said in a statement that after the driver engaged the system he “immediately removed his hands from the wheel. Autopilot had not been used at any other time during that drive.”

The company added that “Tesla drivers have logged more than one billion miles with Autopilot engaged, and our data shows that, when used properly by an attentive driver who is prepared to take control at all times, drivers supported by Autopilot are safer than those operating without assistance.”

While some Tesla drivers say they are able to avoid holding the steering wheel for extended periods while using Autopilot, Tesla advises drivers to keep their hands on the wheel and pay attention while using the system.

David Friedman, a former acting NHTSA administrator, said the incident raises serious questions about the system and the lack of restrictions on its use.

“Either Autopilot can’t see the broad side of an 18-wheeler, or it can’t react safely to it,” said Friedman, a vice president for advocacy at Consumer Reports. “This system can’t dependably navigate common road situations on its own and fails to keep the driver engaged exactly when needed most.”

He said Tesla “must restrict Autopilot to conditions where it can be used safely and install a far more effective system to verify driver engagement.”

The National Highway Traffic Safety Administration is also investigating the Delray Beach and said Thursday it is “carefully evaluating all available data and will share any findings upon conclusion of its investigation.”

In May 2016, a Tesla Model S driver was killed near Williston, Florida, while Autopilot was engaged, when he slammed into a tractor trailer that also sheared off the vehicle roof.

In a fatal crash in Mountain View, California, in March 2018 involving a Model X in Autopilot mode, Tesla said vehicle logs showed the driver had received warnings to put his hands on the wheel but no action was taken by the driver ahead of the crash. That incident is being investigated by both the NTSB and NHTSA.

The NTSB said in 2017 that Tesla lacked proper safeguards allowing the driver “to use the system outside of the environment for which it was designed and the system gave far too much leeway to the driver to divert his attention.”

NHTSA, which has the power to order safety recalls, is investigating a fatal incident in Davie, Florida, on Feb. 24 involving a 2016 Tesla Model S that caught fire and burned the 48-year-old driver beyond recognition. It was not clear if Autopilot was engaged in this incident.

NHTSA can demand a recall if it believes a defect poses an unreasonable safety risk, while the NTSB makes safety recommendations.

The NTSB said it had reviewed forward-facing video from the Tesla in the Delray Beach crash.

NHTSA is also probing the January 2018 crash of a Tesla vehicle apparently traveling in Autopilot that struck a fire truck in Culver City, California; a May 2018 crash in Utah of a Tesla in Autopilot mode; and a May 2018 Tesla accident in Florida that killed two teenagers and injured another but was not in Autopilot mode.

The NTSB is also investigating an August 2017 Tesla battery fire in California, in which an owner ran the vehicle into his garage.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: michael sheetz
Keywords: news, cnbc, companies, driver, renews, ntsb, fatal, crash, tesla, engaged, system, vehicle, autopilot, wheel, questions, safety


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Watch out below as Tesla breaks key support, MKM analyst says

“Any time you have major support that breaks, the next key is you have to look for where’s the next downside level,” O’Hara said Thursday on CNBC’s “Trading Nation. ” “We see some support at $215, but there’s really not major support until $185, so that’s some big downside right here.” “We think the downside risks far outweigh any sort of oversold bounce because, again, broken support turns to new resistance. So we have major resistance at $250 now, with the next support on the downside at $185,


“Any time you have major support that breaks, the next key is you have to look for where’s the next downside level,” O’Hara said Thursday on CNBC’s “Trading Nation. ” “We see some support at $215, but there’s really not major support until $185, so that’s some big downside right here.” “We think the downside risks far outweigh any sort of oversold bounce because, again, broken support turns to new resistance. So we have major resistance at $250 now, with the next support on the downside at $185,
Watch out below as Tesla breaks key support, MKM analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: keris lahiff
Keywords: news, cnbc, companies, 185, target, analyst, mkm, resistance, stock, think, downside, breaks, major, watch, tesla, ohara, support, key


Watch out below as Tesla breaks key support, MKM analyst says

Tesla is swerving lower again Friday.

Its stock is falling and now down 8% this week after a third fatal crash involving its autopilot function embroiled the electric carmaker in bad press. Those losses added to a 34% slump in 2019, putting it on track to post its worst annual drop ever.

Wall Street is turning on the stock too. Just this month, Tesla has received 12 analyst price target cuts. Evercore, for example, reduced its price target to $200 “on valuation and lower delivery estimates across all models.”

MKM Partners’ JC O’Hara agrees that the stock could have further to fall.

“Any time you have major support that breaks, the next key is you have to look for where’s the next downside level,” O’Hara said Thursday on CNBC’s “Trading Nation. ” “We see some support at $215, but there’s really not major support until $185, so that’s some big downside right here.”

Tesla is less than 2% from that $215 level. A decline to $185 would mark a 15% drop.

“We think the downside risks far outweigh any sort of oversold bounce because, again, broken support turns to new resistance. So we have major resistance at $250 now, with the next support on the downside at $185,” said O’Hara. “This is a chart we just want to avoid altogether.”

Tesla broke and closed below $250 in late April for the first time since March 2017.

John Petrides of Point View Wealth Management says while the stock is coming down from “ridiculously high” levels, operational headwinds remain for the company.

“The company has been unable to show sustainable cash-flow generation. They have balance-sheet issues. You have board members that are not seeking reelection, key members of the team are leaving, [CEO] Elon Musk is a wildcard, competition in the e-car market is coming on board,” he said during the same segment. “The stock and the company is a mess, and I think this stock could fall lower.”

Tesla had not responded to a request for comment by time of publication.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: keris lahiff
Keywords: news, cnbc, companies, 185, target, analyst, mkm, resistance, stock, think, downside, breaks, major, watch, tesla, ohara, support, key


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Tesla shares drop after report says its Autopilot system was engaged during a fatal crash

Tesla shares fell almost 8% on Friday to their lowest close since December 2016, after the National Transportation Safety Board said the company’s Autopilot driver assistance system was engaged during a fatal crash in March. The latest crash occurred in Delray Beach, Florida, and involved a Model 3. The accident was at least the third of its kind in the U.S. and raises concerns about Tesla’s Autopilot technology. Tesla’s manufacturing operation burns so much cash that the company’s long-term pat


Tesla shares fell almost 8% on Friday to their lowest close since December 2016, after the National Transportation Safety Board said the company’s Autopilot driver assistance system was engaged during a fatal crash in March. The latest crash occurred in Delray Beach, Florida, and involved a Model 3. The accident was at least the third of its kind in the U.S. and raises concerns about Tesla’s Autopilot technology. Tesla’s manufacturing operation burns so much cash that the company’s long-term pat
Tesla shares drop after report says its Autopilot system was engaged during a fatal crash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: ari levy lora kolodny, ari levy, lora kolodny
Keywords: news, cnbc, companies, transportation, crash, fatal, report, system, autopilot, safety, used, technology, engaged, companys, teslas, upcoming, shares, drop, tesla


Tesla shares drop after report says its Autopilot system was engaged during a fatal crash

Tesla shares fell almost 8% on Friday to their lowest close since December 2016, after the National Transportation Safety Board said the company’s Autopilot driver assistance system was engaged during a fatal crash in March.

Elon Musk, Tesla’s billionaire co-founder and CEO, has been touting the company’s self-driving technology, going so far as to say last month that it will have 1 million robotaxis on the road next year. While investors are used to discounting Musk’s public comments because of how frequently the company has failed to deliver on its promises, actual reports of safety hazards create a deeper problem.

The latest crash occurred in Delray Beach, Florida, and involved a Model 3. The accident was at least the third of its kind in the U.S. and raises concerns about Tesla’s Autopilot technology. Tesla’s manufacturing operation burns so much cash that the company’s long-term path to generating profits relies on its software.

“Autopilot software has incredibly high profit margins which makes it critical to Tesla’s shot at overall profitability,” said Edward Niedermeyer, the author of an upcoming book on Tesla.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: ari levy lora kolodny, ari levy, lora kolodny
Keywords: news, cnbc, companies, transportation, crash, fatal, report, system, autopilot, safety, used, technology, engaged, companys, teslas, upcoming, shares, drop, tesla


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Tesla faces twin assault as Mercedes, VW start taking orders for first long-range EVs

It’s been a tough month for Tesla, and the challenges the Silicon Valley electric-car maker faces will only accelerate now that two major European automakers are launching sales of their first entries into the long-range EV market. Both Volkswagen and Mercedes-Benz began taking orders Thursday for new battery-electric vehicles, with the two companies each planning to follow up with a wave of additional entries over the next few years. Whether they will prove to be “Tesla killers,” as some observ


It’s been a tough month for Tesla, and the challenges the Silicon Valley electric-car maker faces will only accelerate now that two major European automakers are launching sales of their first entries into the long-range EV market. Both Volkswagen and Mercedes-Benz began taking orders Thursday for new battery-electric vehicles, with the two companies each planning to follow up with a wave of additional entries over the next few years. Whether they will prove to be “Tesla killers,” as some observ
Tesla faces twin assault as Mercedes, VW start taking orders for first long-range EVs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: paul a eisenstein, mike blake, adam jeffery, odd andersen, afp, getty images
Keywords: news, cnbc, companies, orders, mercedes, longrange, faces, mercedesbenz, vw, evs, tesla, valley, tough, twin, volkswagen, sales, entries, vehicles, wave, start, taking


Tesla faces twin assault as Mercedes, VW start taking orders for first long-range EVs

It’s been a tough month for Tesla, and the challenges the Silicon Valley electric-car maker faces will only accelerate now that two major European automakers are launching sales of their first entries into the long-range EV market.

Both Volkswagen and Mercedes-Benz began taking orders Thursday for new battery-electric vehicles, with the two companies each planning to follow up with a wave of additional entries over the next few years. Whether they will prove to be “Tesla killers,” as some observers have dubbed them, is far from certain but the two German manufacturers are each investing billions of euros in their electrification programs.

“With the Mercedes-Benz EQC, we are entering a new era of mobility,” said Britta Seeger, member of the board of management of Daimler responsible for Mercedes-Benz cars sales. “It is part of the growing family of all-electric vehicles at Mercedes-Benz and combines brand-defining features such as quality, safety and comfort.”


Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: paul a eisenstein, mike blake, adam jeffery, odd andersen, afp, getty images
Keywords: news, cnbc, companies, orders, mercedes, longrange, faces, mercedesbenz, vw, evs, tesla, valley, tough, twin, volkswagen, sales, entries, vehicles, wave, start, taking


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