|Bid||1,541.00 x 1100|
|Ask||1,542.00 x 1000|
|Day's Range||1,376.10 - 1,548.92|
|52 Week Range||211.00 - 1,548.92|
|Beta (5Y Monthly)||1.20|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 22, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||766.47|
The reduction follows price cuts in May on Tesla's Model 3, Model X and Model S. The company headed by Elon Musk this month posted a smaller-than-expected fall in car deliveries in the second quarter, resilient results despite the pandemic that hit the global auto industry. The Model Y now starts at $49,990, down nearly 6% from its previous price of $52,990, according to the carmaker's website.
U.S. electric carmaker Tesla Inc reduced the price of its sports utility vehicle Model Y by $3,000, Electrek https://bit.ly/327OJoV reported on Saturday. Tesla's mid-sized SUV, which is sold as a Long Range or Performance version - is now priced at $49,990, according to the carmaker's website https://bit.ly/327lz9y. The Performance version will be updated with a new configuration, the report added.
(Bloomberg) -- Elon Musk is now richer than Warren Buffett.The fortune of Tesla Inc.’s chief executive officer rose $6.1 billion on Friday, according to the Bloomberg Billionaires Index, after the carmaker’s stock surged 11%. Musk is now the world’s seventh-richest person, also ahead of tech titans Larry Ellison and Sergey Brin.The 49-year-old owns about a fifth of Tesla’s outstanding stock, which comprises the bulk of his $70.5 billion fortune. His majority ownership of closely held SpaceX accounts for about $15 billion.Shares of the electric-car maker have risen 269% this year. The company’s booming valuation helped Musk land a $595 million payday, making him the highest-paid CEO in the U.S.Musk is the latest tech entrepreneur to rise above Buffett in the ranks of the world’s richest. Steve Ballmer, the former Microsoft Corp. CEO, and Google’s co-founders Larry Page and Brin also have leapfrogged the Oracle of Omaha. And Indian tycoon Mukesh Ambani surpassed Buffett this week.Mike Novogratz, the longtime money manager who now runs digital currency investor Galaxy Digital Holdings Ltd., warned that valuations of technology companies are getting way too high and that small investors should get out of the market before it crashes.“We are in irrational exuberance -- this is a bubble,” he said Friday in a Bloomberg Television interview. “The economy is grinding, slowing down, we’re lurching in and out of Covid, yet the tech market makes new highs every day. That’s a classic speculative bubble.”Surpassing Buffett may be especially sweet for Musk. In an interview in May, he told comedian Joe Rogan that he wasn’t “the biggest fan” of his fellow billionaire. “He’s trying to find out does Coke or Pepsi deserve more capital? I mean that’s kind of a boring job, if you ask me,” Musk said.Buffett has also criticized Musk, saying last year that although Musk was “a remarkable guy,” he had “room for improvement” in behaving like a CEO, singling out his tweeting habits.Buffett’s fortune dropped earlier this week when he donated $2.9 billion to charity. The 89-year-old has given away more than $37 billion of Berkshire Hathaway shares since 2006. The company’s stock performance has also underwhelmed recently.(Adds Musk comments on Buffett in eighth 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.
Fractional stock investing is a popular but misleading term. In reality, all shares represent fractions of an entire company.
Musk's fortune rose by $6.07 billion on Friday, Bloomberg News said, following a 10.8% jump in the electric carmaker's stock. Buffett's net worth dropped earlier this week when he donated $2.9 billion in Berkshire Hathaway <BRKa.N> stock to charity, the report added.
Elon Musk's net worth soared past Warren Buffett on Friday as the chief executive officer of Tesla Inc became the seventh richest person in the world, according to the Bloomberg Billionaires Index. Musk's fortune rose by $6.07 billion on Friday, Bloomberg News said, following a 10.8% jump in the electric carmaker's stock. Buffett's net worth dropped earlier this week when he donated $2.9 billion in Berkshire Hathaway stock to charity, the report added.
The company's "Battery Day", where it is expected to reveal significant advances in battery technology will also be held on the same day, Tesla said. Chief Executive Officer Elon Musk said last month the shareholder meet would tentatively be held on Sept. 15. Tesla has been facing pressure from shareholder advisory firms, Glass Lewis and ISS, against the re-election of Chairwoman Robyn Denholm over concerns of corporate governance and her leadership.
The stock market has posted an amazing rebound from its March lows, but the real standout among major market benchmarks has been the Nasdaq Composite (NASDAQINDEX: ^IXIC). Tesla (NASDAQ: TSLA) and Zoom Video Communications (NASDAQ: ZM) have been among the top performers in the stock market lately, and today both companies saw their stocks move to new record levels. For Tesla, momentum seems to be unstoppable right now, even as short-sellers remain skeptical of the electric vehicle maker's prospects.
The growth stock's move follows speculation that the company may be considering building a small hatchback for the European market. Also helping is news of the possible inclusion of Tesla shares in the S&P 500 market index. When a Twitter user reached out to Tesla CEO Elon Musk on the platform Friday to note that the Model Y is too big for some cities in Europe, he asked whether the company would consider a smaller European-style hatchback.
Oil prices fell on Thursday as COVID-19 cases continued to spike in the U.S., which the IEA highlighted as a major threat to oil markets in today’s report, but prices were quick to return to the $40 mark on Friday.
Yahoo Finance checks in with Carvana founder and CEO Ernie Garcia on car buying demand amidst the COVID-19 pandemic.
Is the stock market a huge bubble right now? The recovery in equities this spring took a lot of investors by surprise, but it may have been justified: Data suggested the economy could come back to life, the federal government had stepped in to provide unprecedented levels of support and boost investor confidence, and the numbers of new daily COVID-19 diagnoses were steadily declining. Among the bubbliest are Nikola (NASDAQ: NKLA), Genius Brands (NASDAQ: GNUS), and XpresSpa (NASDAQ: XSPA).
NIO's stock has risen fivefold just since early April, and shareholders have higher hopes than ever that the electric-vehicle company can do in China what Tesla (NASDAQ: TSLA) has done in the U.S. market. The event that spurred the latest move higher in NIO shares was its release of second-quarter vehicle delivery volume figures.
Tesla CEO Elon Musk's wealth has just raced passed fellow billionaire Warren Buffet and made him the world’s seventh richest person. According to the Bloomberg Billionaires Index, Musk's fortune rose by a staggering $6.07 billion on Friday (July 10) which followed an almost 11% jump in the electric carmaker's stock. The switch with Buffet came in the same week as he donated $2.9 billion of Berkshire Hathaway's stock to charity. Tesla is enjoying a particularly successful period, shares have surged 500% over the past year as the company increased sales of its Model 3 sedan. Musk is now in line for a stock option payday potentially worth $1.8 billion dollars, which could set him on the road to overtaking Amazon’s Jeff Bazos as the world’s richest man.
Chinese electric vehicle (EV) maker Li Auto Inc, backed by food delivery giant Meituan Dianping, has filed for a U.S. initial public offering. The move, announced on Friday, comes as share prices of EV makers including Tesla Inc and Nio Inc have surged in recent months. Five-year-old Li Auto, formerly known as CHJ Automotive, is building Li ONE extended-range electric sport-utility vehicles in China's eastern city of Changzhou.
Tesla investors, buckle your seatbelts - the red-hot stock is likely to go from the fast lane into hyper-drive. Having soared 500 percent over the past year - revving to record high after record high – there are two major upcoming events that could push the stock even higher. Tesla CEO Elon Musk reports results on July 22nd and he could cross the finish line with his fourth straight quarterly profit - something never before seen for the electric car maker. If that happens, investors are betting that will trigger another milestone....an entrance into the benchmark S&P 500 index. Fund managers who mimic the S&P 500 would then be forced to buy the stock. S&P Dow Jones - the keeper of the S&P 500 - would neither confirm nor deny plans to add Tesla to the index, but said the so-called index funds that would need to buy Tesla to replicate the S&P 500 hold at least $4.4 trillion in assets. And there are trillions of dollars more at stake from stock pickers who are judged by a how well they do compared to the S&P 500; they too may be forced to buy Tesla shares. Sounds like a one-way bet to some, but others may see it as a speed trap. Not only is Tesla one of the most beloved stocks on Wall Street it is also one of the most controversial, due in part to Musk’s sometime mercurial behavior. Investors betting against the stock have put up $19 billion - the largest-ever bet that a company's stock will fall, according to one estimate. These naysayers point out that Tesla's entrance into the S&P 500 is far from a guarantee… And while the company may grab lots of headlines, it still sells far fewer cars than its larger rivals. In addition, competitors such as Porsche and General Motors are hard at work on their own electric models, hoping to eventually dim Tesla's halo and its meteoric stock price.
Jul.10 -- Tesla Inc. is set to become the first company to hit a short interest level of $20 billion. Research firm S3 Partners said shares in the electric carmaker look like a candidate for a short squeeze which could push the share price even higher. Tesla’s huge gains this year are already forcing short-sellers out who have tried to limit their losses. Bloomberg’s Annmarie Hordern reports on “Bloomberg Markets: European Open.”
WeRide, a Chinese autonomous vehicle startup, said on Friday it has become the first autonomous company to start fully driverless vehicle testing in China, as the world's biggest auto market accelerates development of autonomous technologies. Three-year-old WeRide, backed by Nissan, Renault and Mitsubishi, said in a statement that it started tests on Wednesday on open roads in a designated area of Guangzhou after the southern Chinese city granted permission. In China, companies such as Toyota-backed Pony.ai, Baidu Inc, and Didi Chuxing are also testing autonomous cars, but all with one or two safety staff onboard.
(Bloomberg) -- Tesla Inc.’s skeptics are undeterred by Elon Musk poking fun at them over the carmaker’s stock surge, with the amount of shares being sold short heading for a milestone.The Model 3 maker’s stock is poised to be the first to hit a short-interest level of $20 billion, according to research firm S3 Partners. The value of shares that have been sold short has climbed recently to $19.95 billion.Read more: Musk Sells Satin Short Shorts for $69.42S3 said in a report Thursday that both Tesla and Nikola Corp. shares look like candidates for a short squeeze, referring to when short sellers are forced by a stock’s gain to close their position, which in turn drives the price even higher.Tesla’s squeeze is more obvious -- its 233% gain this year likely is forcing out short sellers who’ve hit their limit for losses. The potential for a squeeze in Nikola, which is developing fuel-cell and battery-electric semi trucks, has more to do with high borrowing fees, S3 said.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.
The S&P 500 and Dow dropped on Thursday as investors worried about another round of business shutdowns to contain a surge in coronavirus cases and began to shift their focus to earnings, while the Nasdaq hit another record closing high. Investors also began to turn their focus to the second-quarter earnings season, which shifts into higher gear next week. S&P 500 companies are expected to post a more than 40% decline in year-over-year earnings, which would be the biggest quarterly profit drop since the 2008 financial crisis, based on IBES data from Refinitiv.
Stocks abruptly turned negative Thursday as fears over the economic outlook following an increase in coronavirus cases resurged. The Dow and S&P 500 wiped out their week to date gains.