Tesla Financial News

General Motors has hired a former Tesla executive, Kurt Kelty, to serve in the newly created role of vice president of batteries as the automaker continues to work on its electric vehicle strategy

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Investing.com — U.S. futures traded largely unchanged Monday at the start of a busy week that includes a Federal Reserve policy-setting meeting, the widely-watched monthly payrolls report, as well as earnings from a number of mega-cap tech stocks.

Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Fisker makes a deal; Tesla hits a sales speed bump; and Polestar shrinks.

Investing.com — Here is your Pro Recap of the earnings reports you may have missed this week: Netflix, Tesla, IBM , and Humana.

Tesla is recalling nearly 200,000 vehicles in the U.S. because the backup camera may not display an image

In the ever-evolving landscape of cryptocurrency, Bitcoin (BTC) has recently reversed its downward trend, surpassing the significant $41,000 mark. This resurgence not only bolsters confidence in Bitcoin but also paves the way for other major cryptocurrencies like Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), all of which have witnessed modest gains.

J.P. Morgan reiterated an Underweight rating on Tesla (NASDAQ:TSLA) and cut their 12-month price target on the auto stock to $130.00 (From $135.00) after the company reported weaker than expected earnings for the sixth straight quarter, and lower YoY profits for the fourth straight quarter, on Wednesday.

By Ankika Biswas and Johann M Cherian

NHTSA) said on Friday. The development comes less than two months after the company recalled nearly all its vehicles in the United States to install new safeguards in its Autopilot advanced driver-assistance system. The rearview malfunction, caused by software instability, might decrease the driver's visibility and increase the risk of a crash, the regulator said. The recall affects the S, Y and X models from 2023, Tesla said. The auto maker has released a free, over-the-air (OTA) software update to address the issue, according to the NHTSA. As of January 22, Tesla had identified 81 warranty claims that may be related to the rearview condition, the regulator added. NHTSA opened its August 2021 probe into Autopilot after identifying more than a dozen crashes in which Tesla vehicles had hit stationary emergency vehicles.

In the realm of cryptocurrency, Bitcoin’s price prediction continues to draw attention as the digital currency experiences a modest increase, trading at $40,125, up by 0.30%. This surge aligns with significant developments in the crypto landscape.

Chinese car companies are making strides with their stable supply chains and competitive pricing, their low brand awareness and perceived reliability, durability, and safety challenges in the United States may hinder their progress in winning U.S. market share, according to industry experts. Musk's comments coincide with the U.S.

Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition. Musk said on Wednesday that growth would be «notably lower» as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries. But he said ramping up production of the new model would be challenging because it would involve cutting-edge technologies. Tesla's stock suffered its sharpest intraday percentage loss in more than a year, with $80 billion in market value wiped out on Thursday. That pushed its market capitalization loss for the month to about $210 billion. «The Tesla headlines have essentially gone from bad to worse,» said TD Cowen analysts, noting that the fourth-quarter revenue and profit were also below expectations. Shares of other EV makers also fell, with Rivian Automotive Inc, Lucid Group and Fisker down between 4.7% and 8.8%. The EV industry has been grappling with a slowdown in demand for more than a year and the price cuts by Tesla will likely worsen the pressure on the startups and automakers such as Ford . «The problem for Tesla is any significant attempt to boost sales from here on will probably need to be achieved at the cost of further falls in operating margin, due to having to compete with BYD in China, as well as increased competition elsewhere,» said Michael Hewson, chief market analyst at CMC Markets. At least nine brokerages downgraded the stock, while seven raised their ratings.

Elon Musk hinted slowdown in sales this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition, according to a Reuters report. Tesla's stock suffered its sharpest intraday percentage loss in more than a year, with $80 billion in market value wiped out on January 25. That pushed its market capitalization loss for the month to about $210 billion.

on Thursday: Tesla Inc. (TSLA), down $27.77 to $180.06. The electric vehicle maker reported disappointing fourth-quarter earnings and warned of “notably lower" sales growth this year.

Investing.com — The S&P 500 closed at record levels for the fifth-straight session Thursday as investors mulled mostly upbeat corporate earnings, while stronger-than-expected economic growth and slowing inflation bolstered expectations for a soft landing, pushing Treasury yields lower.

Tesla tumbled seven per cent on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins and raised investor concerns at the world’s most valuable automaker.

A group of federal appeals court judges in New Orleans is mulling whether a 2018 social media post by Tesla CEO Elon Musk unlawfully threatened Tesla employees with the loss of stock options if they decided to be represented by a union

Shares of Tesla are tumbling at the opening bell as the electric vehicle, solar panel and battery maker warns investors of slower sales growth this year after posting fourth-quarter profits that were weaker than most had expected

Quiver Quantitative — Tesla (NASDAQ:TSLA) experienced a significant drop in its stock value, nearly 11%, following CEO Elon Musk's announcement of slower sales growth and a focus on developing a more affordable electric vehicle. This projected decrease in market capitalization, which could reach $70 billion, compounds an already challenging month for the automaker, with its valuation potentially shrinking by approximately $200 billion.