Elon Musk says self-driving ‘robotaxis’ could make Teslas more expensive than they are now


Elon Musk says self-driving ‘robotaxis’ could make Teslas more expensive than they are now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08
Keywords: news, cnbc, companies, selfdriving, musk, teslas, robotaxis, expensive, elon



Company: cnbc, Activity: cnbc, Date: 2019-07-08
Keywords: news, cnbc, companies, selfdriving, musk, teslas, robotaxis, expensive, elon


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Most major analysts are staying negative on Tesla shares despite ‘impressive’ deliveries

Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week. “The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a


Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week. “The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a
Most major analysts are staying negative on Tesla shares despite ‘impressive’ deliveries Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: michael sheetz
Keywords: news, cnbc, companies, upcoming, negative, tesla, investors, despite, major, deliveries, earnings, companys, teslas, q2, staying, record, impressive, analysts, shares, quarter


Most major analysts are staying negative on Tesla shares despite 'impressive' deliveries

Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report.

The electric vehicle maker reported delivering 95,200 cars during the second quarter, beating its previous record of 90,700 deliveries, which happened in the fourth quarter of 2018. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week.

“The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a note to investors.

Despite the banner result, which sent Tesla’s stock up nearly 5.9% in trading from Tuesday’s close of $224.55 a share, analysts largely left estimates for the company’s 2019 earnings and revenue unchanged. RBC cautioned investors that Tesla did not update or reiterate its 2019 forecast, which the company did in the first quarter of this year.

Goldman Sachs said it continues “to expect some sequential stepdown in demand and ultimately deliveries as we progress into 3Q19,” the firm said.

Even firms with the most optimistic view on Tesla’s future, such as Baird, told investors to focus on the company’s upcoming second-quarter earnings report. Tesla is expected to report earnings Aug. 7.

“We think Q2 earnings will be the next catalyst to restore confidence and reattract investors to the name,” Baird said. “We continue to like the set-up and believe there are several catalysts upcoming which will contribute to a challenging short environment.”

Here’s what every major analyst said about Tesla’s deliveries.


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: michael sheetz
Keywords: news, cnbc, companies, upcoming, negative, tesla, investors, despite, major, deliveries, earnings, companys, teslas, q2, staying, record, impressive, analysts, shares, quarter


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Tesla’s record delivery number bodes well for the ‘green car’ industry, says former Chrysler exec

Tesla shares jumped more than 7% in extended trading after announcing 95,200 vehicle deliveries in the second quarter, topping expectations of 91,000, according to analysts surveyed by FactSet. “I think demand was there,” Jim Press, a longtime auto executive who was president of Chrysler and Toyota. The electric vehicle company did not release a regional breakdown of its second-quarter deliveries, but Press said the electric vehicle market is growing. Press said he expects to see more competitio


Tesla shares jumped more than 7% in extended trading after announcing 95,200 vehicle deliveries in the second quarter, topping expectations of 91,000, according to analysts surveyed by FactSet. “I think demand was there,” Jim Press, a longtime auto executive who was president of Chrysler and Toyota. The electric vehicle company did not release a regional breakdown of its second-quarter deliveries, but Press said the electric vehicle market is growing. Press said he expects to see more competitio
Tesla’s record delivery number bodes well for the ‘green car’ industry, says former Chrysler exec Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: jesse pound, elijah shama
Keywords: news, cnbc, companies, exec, teslas, chrysler, quarter, production, delivery, press, demand, vehicles, united, car, vehicle, industry, deliveries, bodes, record, number, green, electric, tesla


Tesla's record delivery number bodes well for the 'green car' industry, says former Chrysler exec

A record quarter for deliveries by Tesla is further proof that the market for green vehicles in the United States is expanding and that Tesla does not have demand issues, a former executive at Chrysler and Toyota told CNBC on Tuesday.

Tesla shares jumped more than 7% in extended trading after announcing 95,200 vehicle deliveries in the second quarter, topping expectations of 91,000, according to analysts surveyed by FactSet. The company delivered just 63,000 vehicles in its first quarter as the electric auto maker was plagued by production issues, but that disappointing number also led analysts to question whether Tesla had a demand issue.

“I think demand was there,” Jim Press, a longtime auto executive who was president of Chrysler and Toyota. said on “Closing Bell. ” “I think a lot of this quarter was really done by stoking up production. They had a lot of unfilled orders, especially outside the United States.”

Tesla CEO Elon Musk has been stressing to investors that there is a healthy appetite for Tesla vehicles, saying at a shareholders’ meeting last month, “I want to be clear: There is not a demand problem.”

The company’s biggest seller was the Model 3, which saw 77,550 deliveries. This also beat expectations, as analysts surveyed by FactSet had an estimate of 74,100.

The electric vehicle company did not release a regional breakdown of its second-quarter deliveries, but Press said the electric vehicle market is growing.

“If you look at Tesla’s production, half of their sales up to the beginning of this year have been in the state of California,” Press said. “A lot of this growth now for them has been outside of California, and that shows that demand is growing for green vehicles throughout the country, and actually in other markets as well outside the United States.”

Press said he expects to see more competition from major manufacturers for Tesla in the green car market in the coming quarters.

Gene Munster, a venture capitalist and Tesla bull, said Tuesday that the electric auto maker’s deliveries show it is taking a “powerful step forward” after being plagued by production issues and executive departures.

Munster said the company appears to be working through its manufacturing problems, and in fact may not have a manufacturing problem.

“Something bigger is going on here,” the former longtime tech analyst and founder of Loup Ventures said on CNBC’s “Fast Money. ” “Electric cars are undoubtedly the future here.”


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: jesse pound, elijah shama
Keywords: news, cnbc, companies, exec, teslas, chrysler, quarter, production, delivery, press, demand, vehicles, united, car, vehicle, industry, deliveries, bodes, record, number, green, electric, tesla


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See how this YouTube star cut her Tesla Model 3 into a pickup truck

Elon Musk has promised to unveil Tesla’s first-ever electric pickup truck by the end of this summer. But at least one Tesla fan was too eager to wait — so, she made her own. But on Tuesday, Giertz posted a new video to YouTube that shows her latest engineering effort — converting a Tesla Model 3 sedan into a pickup truck — and it actually appears to be a success. Giertz says they spent over a year planning the project, which included buying a new Model 3 (which has a base price of $35,000) from


Elon Musk has promised to unveil Tesla’s first-ever electric pickup truck by the end of this summer. But at least one Tesla fan was too eager to wait — so, she made her own. But on Tuesday, Giertz posted a new video to YouTube that shows her latest engineering effort — converting a Tesla Model 3 sedan into a pickup truck — and it actually appears to be a success. Giertz says they spent over a year planning the project, which included buying a new Model 3 (which has a base price of $35,000) from
See how this YouTube star cut her Tesla Model 3 into a pickup truck Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: tom huddleston jr
Keywords: news, cnbc, companies, tesla, pickup, shows, youtube, star, model, cut, video, teslas, giertz, truck, strip


See how this YouTube star cut her Tesla Model 3 into a pickup truck

Elon Musk has promised to unveil Tesla’s first-ever electric pickup truck by the end of this summer. But at least one Tesla fan was too eager to wait — so, she made her own. Simone Giertz is a Swedish-born YouTube host known mostly for making comical online videos chronicling her attempts to build what she calls “sh—y robots.” Giertz, whose channel has over 1.6 million followers, regularly builds robots that perform everyday tasks less than adequately, like a helmet that sloppily brushes your teeth or an alarm clock that wakes you up with a rubber hand smacking your face. But on Tuesday, Giertz posted a new video to YouTube that shows her latest engineering effort — converting a Tesla Model 3 sedan into a pickup truck — and it actually appears to be a success. The 31-minute video shows Giertz, along with mechanic Marcos Ramirez, designer Laura Kampf and car refurbisher Rich Benoit (of the YouTube channel “Rich Rebuilds”), removing the electric sedan’s rear window and literally cutting through the Model 3 frame to remove the back end of its roof.

Giertz and her team of engineers and designers then strip out the Tesla’s backseat and trunk in order to install a pickup bed in the now-open back of the car. Giertz says they spent over a year planning the project, which included buying a new Model 3 (which has a base price of $35,000) from Tesla. “One of the initial designs we had was to essentially strip everything from the midway and back, and just put in a flatbed,” Giertz told Wired, “But I didn’t like the look of that. So we decided to salvage as much of the back half as possible and try to build it into more of an El Camino. pickup truck, ” referring to the famous Chevrolet model.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: tom huddleston jr
Keywords: news, cnbc, companies, tesla, pickup, shows, youtube, star, model, cut, video, teslas, giertz, truck, strip


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US reportedly denies Tesla’s request to waive tariffs on Chinese-made Model 3 parts

These home improvements can help shave money off your utility… Conducting a home assessment can help cut your energy use — and bills — significantly. Here’s where homeowners can start if they want to reap the rewards of those savings. Personal Financeread more


These home improvements can help shave money off your utility… Conducting a home assessment can help cut your energy use — and bills — significantly. Here’s where homeowners can start if they want to reap the rewards of those savings. Personal Financeread more
US reportedly denies Tesla’s request to waive tariffs on Chinese-made Model 3 parts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: jesse pound
Keywords: news, cnbc, companies, utilityconducting, model, reap, improvements, teslas, rewards, money, significantly, denies, tariffs, chinesemade, waive, shave, request, start, parts, reportedly, savingspersonal, help


US reportedly denies Tesla's request to waive tariffs on Chinese-made Model 3 parts

These home improvements can help shave money off your utility…

Conducting a home assessment can help cut your energy use — and bills — significantly. Here’s where homeowners can start if they want to reap the rewards of those savings.

Personal Finance

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: jesse pound
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Tesla loses key Autopilot engineer to self-driving truck start-up Embark

Zeljko Popovic, a leader within Tesla’s Autopilot team, is leaving for Embark, the autonomous trucking start-up in San Francisco, according to a person familiar with the move. Popovic, whose background is in robotics, built and ran the perception team for Tesla’s Autopilot division. At Tesla’s annual shareholder meeting this week, CEO Elon Musk acknowledged that some Tesla self-driving features still need improvements. Amazon is using self-driving trucks developed by Embark to haul some cargo on


Zeljko Popovic, a leader within Tesla’s Autopilot team, is leaving for Embark, the autonomous trucking start-up in San Francisco, according to a person familiar with the move. Popovic, whose background is in robotics, built and ran the perception team for Tesla’s Autopilot division. At Tesla’s annual shareholder meeting this week, CEO Elon Musk acknowledged that some Tesla self-driving features still need improvements. Amazon is using self-driving trucks developed by Embark to haul some cargo on
Tesla loses key Autopilot engineer to self-driving truck start-up Embark Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: lora kolodny
Keywords: news, cnbc, companies, truck, trucks, autopilot, team, loses, trucking, engineer, tesla, system, key, selfdriving, teslas, embark, startup, vehicles


Tesla loses key Autopilot engineer to self-driving truck start-up Embark

Zeljko Popovic, a leader within Tesla’s Autopilot team, is leaving for Embark, the autonomous trucking start-up in San Francisco, according to a person familiar with the move. Embark confirmed the hire.

The departure comes at a critical time, as Tesla is promising its electric vehicles will be capable of operating as “robotaxis” by the end of next year — which is to say, they’d be fully self-driving in normal conditions, without human intervention. Tesla also says it plans to start production of its long-awaited electric semi trucks by the end of 2020.

Popovic, whose background is in robotics, built and ran the perception team for Tesla’s Autopilot division.

According to people familiar with his accomplishments there, Popovic managed the development of highly accurate maps of U.S. highways for Tesla, and created a “sensor fusion system” which combines data from the many cameras, radars and ultrasonic sensors that Tesla vehicles employ. The sensor fusion system enables Autopilot to “see” other cars on the road.

At Tesla’s annual shareholder meeting this week, CEO Elon Musk acknowledged that some Tesla self-driving features still need improvements. “Summon,” which allows a driver to automatically call their car over from wherever it is parked, was supposed to be widely available by now. But at the meeting, Musk said it is still being tweaked.

Founded in 2015, Embark integrates its self-driving systems into Peterbilt semis rather than building its own trucks completely from scratch, and the trucks are generally operated with human supervisors behind the wheel. It now has more than a dozen trucks and 60 employees. Amazon is using self-driving trucks developed by Embark to haul some cargo on the I-10 interstate highway in California, both companies previously acknowledged.

Attrition has been a big issue for Tesla in the last two years as the company has missed some of its production goals and its stock price has swung wildly. Among others, self-driving VP Jim Keller left for Intel, and head engineer Doug Field rejoined Apple to work on that company’s secretive self-driving technology.

Popovic and Tesla did not immediately respond to requests for comment.

WATCH: Self-driving trucks are here — here’s how they’ll transform the trucking industry


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: lora kolodny
Keywords: news, cnbc, companies, truck, trucks, autopilot, team, loses, trucking, engineer, tesla, system, key, selfdriving, teslas, embark, startup, vehicles


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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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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.

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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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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
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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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