Tesla

The electric-vehicle maker reported its first sequential decline in quarterly profit in more than a year as it recovers from an extended shutdown at its ...

Tesla aggressively embraced Bitcoin in 2021, investing $1.5 billion in the currency. But it now says its profitability was affected by "Bitcoin impairment."

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Tesla Q2 2022 Earnings Report Recap · Tesla (TSLA) Financial Results: Analysis · TSLA Vehicle Production · TSLA Outlook and Stock Performance · TSLA Earnings Call ...

Shares of Tesla stock were up 2.1% in extended trading hours immediately following the company's earnings release Wednesday, and continued to climb Thursday, up nearly 7.5% in midday trading. When you visit this site, it may store or retrieve information on your browser, mostly in the form of cookies. Investopedia does not include all offers available in the marketplace. Profitability was negatively affected by higher costs associated with raw materials, commodities, and logistics, and by the prolonged shutdown of the company's facilities in Shanghai due to COVID-19 restrictions.1 Tesla cited new factories in Berlin-Brandenburg and Austin as key in increasing production capacity.5 The company increased its production of Model S/X vehicles by over 600% YOY, while Model 3/Y production grew at a much more modest 19% YOY.4

Tesla lacks sufficient Bitcoin to fuel its factory cash burn. Meanwhile, mastering its supply chain problems and its inability to raise prices enough to ...

My concern is that if Tesla keeps raising its prices, the number of people who can afford to pay such high prices will diminish. So Tesla raised more by selling the bulk of its bitcoin holdings. Some $7 billion of that funding would come from “venture capital firms, tech moguls, cryptocurrency companies, sovereign wealth funds, property firms and mutual funds,” according to Forbes Advisor. 3.2% of Tesla’s sales are sold short. However, doing so will depend on Tesla’s ability to launch new vehicles — for example, it intends to start delivering its Cybertruck in mid-2023 — and improve its supply chains. Sadly for investors, those price increases were not enough to keep its automotive profit margins from falling. Musk said that the company had raised prices several times. As CEO Elon Musk said, “The processing of lithium is insane. I think investors were expecting Tesla to lower that guidance. Shortages of supplies and labor and logistical problems kept factories from running at full capacity. What’s more, Tesla has become a fast-growing profitable company — defying those who sold short its stock. Tesla revenues fell short of expectations while adjusted earnings exceeded them.

Shares of Tesla jumped more than 8% on Thursday after the electric car maker released second-quarter results that were better than analysts feared.

Shares of Tesla jumped nearly 10% on Thursday, one day after the electric car maker released second-quarter results that were better than analysts feared. - Shares of Tesla jumped nearly 10% on Thursday after the electric car maker released second-quarter results that were better than analysts feared. - Some analysts said Tesla delivered a better outlook than expected, considering it faced many production issues at its Berlin, Texas and Shanghai factories.

Many investors are unperturbed by Tesla's decision to sell its bitcoin, saying it could have little to no impact, or maybe even be a good thing.

"Regulation's coming and depending on what that looks like, it could really foster the value of what blockchain and bitcoin can be, but it could also really dampen it if the rules and regulations that start to come are overly aggressive or take away from the value and benefit that bitcoin and blockchain should bring," Hamman said. But a lot of people, probably most people, they're going to be more transactional in nature and want to manage their risk for anything they hold as volatile as [bitcoin].” Wall Street analysts Thursday said it was a good move by Tesla since the EV maker’s shares had taken on bitcoin’s inherent volatility. “Such a significant amount of bitcoin was sold and the market was not only able to handle it from a liquidity perspective, but we even saw a rally and price support around the key psychological barrier of $20,000,” said Leah Wald, co-founder and CEO at digital asset fund manager Valkyrie Investments. “The long-term outlook is still bright, especially when you consider all the investment being made into digital assets infrastructure.” Investment asset vs cash alternative When Tesla bought bitcoin in February 2021 , it also said it would begin accepting bitcoin as a form of payment for its products (which it nixed three months later). The announcement followed that of Microstrategy and Block , then Square, who in the fall invested millions of their cash reserves in bitcoin. “There's real differences in how and why people were deciding to hold bitcoin on a balance sheet, it's indicative of the rest of the crypto market,” said Noah Hamman, CEO of AdvisorShares, which manages the AdvisorShares Managed Bitcoin Strategy ETF. “Some people are absolute believers and will hold it forever. The company said it was to maximize its cash position amid Covid-related uncertainty in China. But the move comes about 18 months after the company shocked the financial markets by buying $1.5 billion worth of bitcoin, saying at the time in a filing that it believes in crypto’s “long-term potential” both as an investment and as a liquid alternative to cash. They say the company did what was best for it in the near term in light of what CEO Musk has called a “super bad” economy . These investors believe bitcoin is bigger than Tesla or its high-profile CEO and its long-term use case as a hedge against inflation still holds up.

The 10% surge in Tesla Inc. shares Thursday after the electric-vehicle maker reported strong earnings is creating one notable group of losers: The pile of ...

That drives their losses this month to $2.67 billion, according to S3. Tesla is the most shorted stock in the world, with almost 3% of its float held in short-selling positions. The 10% surge in Tesla Inc. shares Thursday after the electric-vehicle maker reported strong earnings is creating one notable group of losers: The pile of traders betting against the stock.

SAN FRANCISCO: Tesla is falling short of CEO Elon Musk's target to make its own next-generation batteries, sparking questions over the top electric car ...

If those problems continue, he said, "we see pressure ahead as investors are growing tired of missed deadlines and false hopes." Tesla's test line for 4680 battery cells in California has improved output and the company aims to begin producing those cells in its new Texas factory this quarter, Baglino said. (One thousand battery cells are enough for about one car.) In either case, that figure is far short of the Texas factory's automotive production targets, said Benchmark's Rawles. "So we're confident of resolving those unknowns but it's, it's very, very difficult," he said, adding that it is making rapid progress. Tesla is also pioneering a cost-efficient new battery manufacturing process called dry battery electrode. But it needs such new batteries next year to avoid scrambling for supplies just as the global industry scales up electric production.

Tesla Inc is falling short of CEO Elon Musk's target to make its own next-generation batteries, sparking questions over the top electric car maker's ability ...

Tesla's test line for 4680 battery cells in California has improved output and the company aims to begin producing those cells in its new Texas factory this quarter, Baglino said. If those problems continue, he said, "we see pressure ahead as investors are growing tired of missed deadlines and false hopes." (One thousand battery cells are enough for about one car.) In either case, that figure is far short of the Texas factory's automotive production targets, said Benchmark's Rawles. "So we're confident of resolving those unknowns but it's, it's very, very difficult," he said, adding that it is making rapid progress. But it needs such new batteries next year to avoid scrambling for supplies just as the global industry scales up electric production. Tesla is also pioneering a cost-efficient new battery manufacturing process called dry battery electrode.

Tesla surges nearly 10 per cent after reporting better-than-expected profits. Read more at straitstimes.com.

One Medical soared nearly 70 per cent. Amazon climbed 1.5 per cent as it announced it was buying US primary health care provider One Medical for US$3.9 billion (S$5.5 billion) in a big step for the online retail giant's move into the health sector. "Is this the end?"

Bitcoin prices were cooling off Thursday following a big spike in the past week. And it appears that Elon Musk might be partly to blame.

"Major institutions have adopted crypto in some form and it's playing a factor in the volatility we've seen recently." "Tesla dumping a good portion of their bitcoin holding news caught many off guard and helped end the rally," Moya added. Bitcoin prices, which have been more than cut in half this year, have enjoyed a solid rebound in the past week, gaining 12% in the past seven days.

This isn't a comprehensive review of the Tesla Model Y so much as a set of impressions after a half-hour drive, but do Teslas need reviewing anyway?

Tesla produced 258000 vehicles and delivered over 254000 vehicles in 2Q, a drop of more than half from the 1Q's total of 564743 vehicles.

With the trifecta of offerings in solar, energy storage and electric vehicles, Tesla remains the sustainability behemoth with sustainable free cash flow generation.” “We continued to make significant progress across the business during the second quarter of 2022. The company attributed this to supply chain issues, and factory shutdowns beyond their control. “We were most impressed with the company’s ability to generate positive free cash flow in the quarter despite COVID production shutdowns in China and ramping production in Austin and Berlin," Canaccord analysts wrote in a note. “Barring a significant slowdown in order momentum due to recession, we see Tesla reaching escape velocity as the combination of improving China, Austin, Berlin and (even) Fremont capacity should lead to a doubling of weekly production volumes from 2Q22 levels to 40,000 per week by the end of 2022. Though we faced certain challenge, including limited production and shutdowns in Shanghai for the majority of the quarter, we achieved an operating margin among the highest in the industry of 14.6%, positive free cash flow of $621 million and ended the quarter with the highest vehicle production month in our history,” Tesla wrote.

When releasing its second-quarter results, Tesla revealed that it has sold some 75% of its bitcoin holdings. The firm's founder and CEO, Elon Musk, says that ...

Tesla has built a giant factory there, and China is the second-largest market in terms of sales behind the United States. So it was important for us to maximize our cash position, given the uncertainty of the Covid lockdowns in China,” the Tesla boss said. “It should be mentioned that the reason we sold a bunch of our bitcoin holdings was that we were uncertain as to when the Covid lockdowns in China would alleviate.

Chief executive Elon Musk said he expects inflation will begin to ease by the end of the year, and he told a conference call that Tesla does not have a demand ...

Analysts were expecting revenue of US$17.10bil (RM76.2bil), according to IBES data from Refinitiv. — Reuters Tesla has not sold any of its holdings of the dogecoin cryptocurrency. Musk previously had said the new factories were “gigantic money furnaces” and that he had “a super bad feeling about the economy.” Musk on the conference call said the sale was made to increase liquidity when Tesla was uncertain about how long the Covid-19 lockdown in China would continue. Musk said new factories in Berlin and Texas aimed to produce 5,000 cars a week by the end of the year, adding that Berlin produced 1,000 cars a week in June. Chief executive Elon Musk said he expects inflation will begin to ease by the end of the year, and he told a conference call that Tesla does not have a demand problem.