Tesla Motors (TSLA) / Elon Musk 02 (Dec 22 - Dec 25)

[winston]

vested

Tesla (NASDAQ: TSLA) is Ark's third-largest portfolio holding. It constitutes around 6.95% of Ark's portfolio value and has caused controversy for Cathie Wood.

Critics of the move have argued that such a large investment in a single company is too risky for a fund that has been around for only a few years. Furthermore, they point out that Tesla is a volatile stock prone to wide price swings, making it a risky bet.

Tesla's stock price is currently down 62.01% over the past year, severely curbing its previously meteoric price-to-earnings (P/E) ratio, thus undervalued on a relative basis.

Tesla has made significant strides in developing its electric vehicles, which are becoming increasingly popular. Its Model 3 has become the best-selling luxury car in the USA and is being embraced by people worldwide.

The company has also been making significant investments in autonomous driving technology, which could be a major growth driver in the coming years.

According to analysts, the situation for Tesla could be in the process of improving. It's currently 70.4% below the MarketBeat consensus price target , and its EPS has a projected earnings growth of 27.78%. That reflects an appreciation from $3.60 to $4.60 per share.

Source: Market Beat

[winston]

vested

Elon Musk tells court Saudi Arabia wanted to take Tesla private, $420 ‘not a joke’

By Claudia Assis

When questioned about texts between himself and Yasir Al-Rumayyan, the sovereign-wealth fund’s top executive, Musk said the texts were essentially “ass covering, for lack of better word,” on the Saudi executive’s part.

Musk went on to say that he became “angry” and “very upset” at what he perceived as Al-Rumayyan’s “backpedaling” .

“I thought it would be good for the shareholders to take Tesla private,” Musk said. “We were under an unprecedented attack from short sellers.”

Google parent Alphabet Inc. GOOGL, had a “standing interest” in buying Tesla, which factored into his idea of taking the EV maker private at the time.

$420-a-share price on the deal “was a coincidence” as it was roughly a 20% premium over Tesla’s stock price at the time, and “not a joke.”

In certain circles, the number 420, pronounced four-20, refers to marijuana use.

Firing off the now famous “funding secured” tweet was a way to stay ahead of a soon-to-be-run Financial Times story about the Saudi fund taking a large stake at Tesla and as a way to keep all Tesla investors informed, Musk said.

Moreover, he tweeted that he was “considering” the move, “not saying that it would be done,” Musk told the court.

Source: Market Watch

https://www.marketwatch.com/story/elon- ... eid=yhoof2

[behappyalways]

Tesla Beats On Top And Bottom Line As Margins Slump
https://www.zerohedge.com/markets/tesla ... gins-slump

[winston]

Vested. Range Low of 102 in early Jan 2023. Now 178. Up 75% in one month. Sold half on Friday.

Tesla just had its best week since May 2013

by Rohan Goswami

KEY POINTS

Tesla shares surged 33% this week, marking their best weekly performance since May 2013.

CEO Elon Musk said earlier this week the company was on target to potentially produce 2 million vehicles in 2023.

The rebound followed a six-month period in which Tesla shares declined more than 40%.

Source: CNBC

https://www.cnbc.com/2023/01/27/tesla-j ... r%7Cmsapac

[winston]

vested

JPMorgan Analyst Explains How His Bank Sees Tesla's Stock Performing Moving Forward

After a mixed earnings report last week, an analyst reiterates a recommendation for Tesla's stock.

by JEFFREY QUIGGLE

The earnings report cited fourth-quarter gross profit margin at 23.8%, short of estimates of 25.4%. The automotive gross profit margin was 25.9%, also short of estimates at 28.4%.

Still, Musk said Tesla's orders for January were as strong as ever and were twice the rate of global production.

"If it's a smooth year, actually, without some big supply chain interruption or massive problem, we actually have the potential to do 2 million cars this year," he said.

On Jan. 13, Tesla had announced price cuts of between 6% and 20% for its Model 3 and Model X sedans, along with the Model Y crossover.

The stock hit a year-to-date high of $177.90 on Jan. 27, but was trading down Jan. 30 after a JPMorgan analyst reiterated a sell rating on the stock with a price target of $120.

"As such, we view margin trajectory negatively and expect that consensus margin expectations are likely to decline."

Source: The Street

https://www.thestreet.com/investing/sto ... %2BForward

[behappyalways]

Not vested

"To my eye it's a rally to a difficult level, and the play here is if you're long to exit, and with new money I would be short."

@CarterBWorth explains his new technical call on Tesla, and why the market might struggle to move higher in the coming months. $TSLA

https://mobile.twitter.com/CNBCTheExcha ... 4086811650

[winston]

vested

Tesla Hires Amid Wave of Tech Layoffs

Tesla increased hiring as tech companies began layoffs in the fall.

by ELLEN CHANG

Tesla increased its headcount by 29%. The electric vehicle manufacturer employed 127,855 people, a 29,000 year-over-year increase,

Apple is the only big tech company that has not cut its workforce.

Tesla faces scrutiny from the Department of Justice, which requested more information on its autopilot and full-self driving feature.

Source: The Street

https://www.thestreet.com/electric-vehi ... %2BLayoffs

[winston]

vested

Famous Short Seller Explains What He's Seeing With Tesla That Has Him Worried

The bears were wrong before but they are right currently on Tesla, according to the short seller.

by TONY OWUSU

Jim Chanos: "You know I've been saying half tongue-in-cheek that Tesla is a Chinese car company. The bulk of its production is there and we think almost all of its profit is generated there".

Source: The Street

https://www.thestreet.com/electric-vehi ... %2BWorried

[winston]

vested

Why Tesla is a cheap stock: Gary Black

by Joe Toppe

Usually when the market leader cuts prices, they have more room to discount than competitors because their gross profit is higher.

In 2022, Tesla vehicle deliveries grew 40% year-over-year to 1.31 million while production grew 47% to 1.37 million.

Tesla should be trading at a much higher multiple than GM, Ford, Volkswagen because it’s growing at 35% to 40% per year. Those companies are all shrinking.

Black said he expects EV adoption in the U.S. to rise to 60% by 2030 from 6% today as prices come down.

Source: Fox Business

https://finance.yahoo.com/news/why-tesl ... 53890.html

[winston]

vested

Short-seller Jim Chanos warns Tesla bulls the good times are over—permanently

by Christiaan Hetzner

I think their profits are going to be under pressure, and I think it’s going to be relatively permanent.

Everybody forgets Tesla lost money through 2019 building cars in the United States. It wasn’t until they opened Shanghai and that ramped in a major way that their margins took off. And China right now is their weakest market.

Source: Fortune

https://finance.yahoo.com/news/short-se ... 39685.html