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Posts Tagged ‘tesla stock price’

Musk Tells Shareholders Tesla Will Need “Possibly 10 or 20” Assembly Plants

To expand product line beyond three cars, company will need more space.

by on Jun.07, 2017

Tesla CEO Elon Musk told shareholders that the company may need 10 or 20 plants in the future.

With strong early demand for the Tesla Model 3 and still more new products in the pipeline, Tesla may need anywhere from three to “possibly as many as 10 or 20” new assembly plants, CEO Elon Musk told shareholders during an annual shareholders meeting that took on the air of a superstar love fest at times.

With shouts and applause for the charismatic company founder and entrepreneur, shareholders largely gave Musk what he wanted, among other things rejecting a pension fund proposal to make Tesla board members have to stand for re-election annually, rather than every three years. The issue of high worker injuries rates also came up, however, though a pending sex discrimination lawsuit was not a topic during the event’s question-and-answer session.

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The 2017 stockholders meeting comes at a critical time for Tesla. Though the company has turned a profit during only two quarters since going public, its share price has been soaring, buoyed by early expectations for the Model 3, its first mainstream model, which appears ready to go into production next month. (more…)

Tesla Bull Analyst Flipping to Bear

Concerns over fighting with tech companies causes rating change.

by on May.16, 2017

Morgan Stanley Analyst Adam Jonas switched from bull to bear when it comes to Tesla over concerns about potential battle with tech companies.

One of the Wall Street analysts that has been optimistic about the outlook for Tesla Motors’ stock has reversed course.

Adam Jonas, Morgan Stanley’s lead automotive analyst, has downgraded Tesla from Overweight to Equalweight with a price target of $305, suggesting a 6% downside on the company’s stock price from current levels.

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The downgrade hurts Tesla because the electric-car company depends on the stock’s impressive valuation to help attract new investors. (more…)

Tesla Pays CEO Musk Less Than Line Workers – But Stock Run-Up Worth Billions

Maker expected to target stationary battery market.

by on Apr.23, 2015

Why is this man smiling? Over $6 billion in stock might help when added to Elon Musk's meager base pay.

While most automotive CEOs can expect to take home seven- and even eight-figure paychecks, Tesla Motors founder and Chief Executive Elon Musk earned barely as much as one of his company’s assembly line workers last year, just $35,360.

But lest you worry he can’t support his large family, Musk has also benefited handsomely from the surge in Tesla stock over the last two years – while also taking home a paycheck from Space Exploration Technologies, the private rocket launching service he also founded.

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Though well off from its 52-week high, Tesla stock has been on a roll in recent weeks, investors betting on a strong first-quarter earnings report – and on the new line of business Tesla is expected to announce next week, the company reportedly planning to enter the stationary battery power market.


Tesla Won’t Deliver a Profit Until 2020, CEO Musk Warns

But founder also promises to push volume to 500,000 by 2020, and “a couple million” by 2025.

by on Jan.14, 2015

Tesla founder and CEO Elon Musk has no plans to leave Tesla anytime soon.

Don’t expect to see a profit from Tesla Motors – at least not using generally accepted accounting rules – until at least 2020, CEO Elon Musk cautioned during an appearance in Detroit on Tuesday. That’s despite a big jump in sales the company founder is predicting.

By the end of the decade, Musk is promising to sell at least 500,000 vehicles annually – a nearly 3,000% increase over 2014’s total of 17,300 Model S sedans — as Tesla adds new products and works out the admitted kinks in its production system.


In the meantime, Musk says he’ll be sticking around to oversee Tesla, at least until it gets its first mass market battery-car, the Model III, into production.  Musk suggested that he intends to stay at Tesla “until I die,” but opened the door to turning over the role of chief executive to someone else once he reaches his most immediate goal of bring an electric vehicle to the masses.


Tesla Stock Price Sliding Due to Low Gas Prices

Analyst revises sales estimates due to fuel prices.

by on Dec.17, 2014

Low gas prices are taking a bite out Tesla's stock price in the last six weeks.

The low gas prices that have been a boon for truck and sport-utility sales are taking a toll on fuel-efficient and electric vehicles… and the stock price of at least one company: Tesla Motors.

The Palo Alto, California-based automaker saw its stock close below $200 a share yesterday for the first time since mid-February at $197.81, which was down $6.23 for the day. The drop below $200 was tied, in large measure, to concerns about declining gas prices.

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While the stock rebounded today, closing at $205.81, that doesn’t mean the impact of gas prices isn’t having a long-term effect. Tesla stock has been sliding steadily since the middle of November when it was in the mid-$250 range. This coincides with the time gas prices were in the early throes of their decline. (more…)

Investors Unplugging from Tesla

Delay in Model X could complicate problems as CEO warns shares are "kinda high."

by on Oct.17, 2014

The high-flying Tesla could be hurt by another delay of the "falcon-winged" Model X SUV.

After running up the stock in a frenzy more familiar to high-tech companies like Apple and Google than those in the automotive world, investors have suddenly grown wary about battery-carmaker Tesla Motors. But whether this is a short-term or long-term problem is unclear.

Traded as TSLA, Tesla’s stock is down sharply from an October high of $260 – and a 52-week peak of $291.42. It closed Thursday at $226.35 and analysts will be watching to see whether it can regain momentum during the week’s final day of trading.

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Tesla is by no means alone. Tech and automotive stocks have all been hammered by what appears to be a significant correction on Wall Street. But there are a number of problems unique to the battery-car company, including concerns that its second product line, the Model X SUV, could yet again be delayed. Even the maker’s CEO and founder has quested whether Tesla shares were “kinda high” before the stock tumbled.


Tesla “Ready to Feast” with New Model X SUV

Report anticipates major sales growth, possible dominance in luxury ute segment.

by on Aug.14, 2014

Tesla's Model X, the company's next gen vehicle, will push the company's stock price past $265 a share, according to Morgan Stanley.

Tesla Motors is just beginning production of the much-delayed Model X, its second major product line, and should have the first of the battery-electric SUVs in showrooms by early next year, and barring some unforeseen problems, it could quickly overshadow the maker’s current offering, the Model S sedan, according to a new report.

The Model X is “ready to feast” on a market looking for an alternative to conventional, high-line luxury SUVs and CUVs, forecasts financial firm Morgan Stanley, which also anticipates the demand for the new battery-car will drive Tesla’s stock to a new high, well above the maker’s previous peak of $265.64 a share.

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The word, “bullish,” doesn’t come close to describing the mood at Morgan Stanley, which, despite not yet driving the new battery-ute, is predicting the Model X will “sweep every Car of the Year award on offer by the automotive media.” The Model S took several key awards, including the coveted Motor Trend Car of the Year trophy, though limited availability kept it from a podium finish in other automotive battles, such as the North American Car of the Year. (more…)

Tesla’s 3rd Model S Fire Adds to Maker’s Woes

Stock takes huge tumble.

by on Nov.07, 2013

An Instagram image of a third reported Tesla Model S fire in Smyrna, Tennessee. Photo Credit:

Another Tesla Model S battery sedan has caught fire, the third such incident in six weeks, and an event that is contributing to the California carmaker’s sudden stock price plunge.

Ironically, the incident occurred in Smyrna, Tennessee, according to the Tesla Motors Club website, the same town where Nissan produces its own battery-electric vehicle, the Leaf.

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Tesla officials say they plan to immediately investigate the fire which appears to have occurred following a collision involving the Tesla. Two other Tesla vehicles have suffered fires since late September, and the latest incident could raise new concerns about the safety of the lithium-ion technology used by Tesla and other battery-car makers.


Tesla Takes Yet Another Hit as it Runs Short of Batteries

Stock plunges on latest bad news.

by on Nov.07, 2013

Tesla tanks? And the chart doesn't show Thursday's preliminary decline.

Things to keep going from bad to worse for high-flying battery-car maker Tesla Motors – at least as far as the company’s investors are concerned, though many potential customers are in for a disappointment, as well.

The latest setback, it seems, is the result of the maker’s unexpected success winning over buyers in a market otherwise skeptical about electric propulsion. Tesla is taking so many orders it doesn’t have enough batteries to meet demand – news that once again sent its stock plunging.

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Tesla stock has been in sharp decline for the past month – after reaching a $194.50 peak in late September it was trading around $140 a share mid-morning Thursday, a drop of around $11, or over 7%, for the day.  On Wednesday, TSLA, as the stock is traded as, fell so fast that, at one point, it triggered NASDAQ’s so-called “circuit-breaker,” which is designed to slow trading by short-sellers that could drag shares down even faster.


Is Tesla Stock Coming Unplugged?

Shares slide again as more doubts raised.

by on Oct.24, 2013

The recent Tesla Model S fire has contributed to the decline of the company's stock price.

The once high-flying Tesla may be coming back to earth; at least its stock is showing signs of being grounded as more and more observers question whether the California-based battery-car maker can justify the phenomenal run-up in its share price since the beginning of the year.

Tesla opened trading on Thursday at $164.50 a share, rising about 2% in the first few hours. While it’s made an impressive six-fold gain when compared to its 52-week low of $27.02, it’s still way below the nearly $200 mark it set in recent weeks before showing signs of coming unplugged.

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It didn’t help to have a video land on YouTube showing a new Model S sedan catching fire while driving through the Seattle suburbs. But while Tesla CEO Elon Musk quickly issued a reasonable explanation that downplayed any design flaw with the battery car, the real problem is that a number of influential analysts are becoming increasingly disenchanted and are warning that Tesla stock may be seriously over-priced. (more…)