tesla shares – pressnews

Tesla fans keep buying, unbowed by the $720 billion wipeout

29Dec

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Technology

Tesla fans keep buying, unbowed by the $720 billion wipeout

[ad_1] Even the worst year ever for Tesla Inc. shares hasn’t shaken individual investors’ faith in the electric-vehicle maker and its billionaire chief executive officer, Elon Musk. Even the worst year ever for Tesla Inc. shares hasn't shaken individual investors' faith in the electric-vehicle maker and its billionaire chief executive officer, Elon Musk. Such retail traders have continued piling into the shares, data from Vanda Research show. In fact, they've been strong buyers every day this month, driving their net purchases to record highs in both December and the fourth quarter. On Wednesday, they appeared poised to get a small reward for their loyalty: Tesla jumped as much as 6.6% soon after the market's open. But the shares gave back almost all those gains by late morning, ...

Tesla shares suffer worst year ever. And 2023 looks bad, too

22Dec

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Technology

Tesla shares suffer worst year ever. And 2023 looks bad, too

[ad_1] A year ago, Tesla Inc. seemed unbeatable, with its shares near a record high amid soaring optimism for the global electric-vehicle market. Now investors are struggling to see a bottom. A year ago, Tesla Inc. seemed unbeatable, with its shares near a record high amid soaring optimism for the global electric-vehicle market. Now investors are struggling to see a bottom. The stock was never for the faint of heart, given its volatility and the mercurial style of its chief executive, Elon Musk. Still, the magnitude of this year's rout is staggering: It's lost more than 60% through Tuesday's close, on pace for a record annual decline, and erasing about $626 billion of shareholder value. Two years to the day after Tesla joined the S&P 500 Index, investors are confronting a new...

Elon Musk to step down as Twitter CEO once he finds ‘someone foolish’ enough as successor

22Dec

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Technology

Elon Musk to step down as Twitter CEO once he finds ‘someone foolish’ enough as successor

[ad_1] Elon Musk to step down as Twitter CEO once he finds 'someone foolish' enough as successor Billionaire Elon Musk said on Tuesday he will step down as chief executive of Twitter Inc once he finds a replacement, but will still run some key divisions of the social media platform. "I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams," Musk wrote on Twitter. Tesla Inc's shares, which have lost about 60% of their value since Musk made the offer for Twitter back in April, rose about 1% on Wednesday. Musk's $44 billion takeover of Twitter in October has been marked by chaos and controversy, with some investors questioning if he is too distracted to also properly run his electric-vehicle automa...

Elon Musk’s Tesla Share Sales Approach the $40 Billion Mark

15Dec

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Technology

Elon Musk’s Tesla Share Sales Approach the $40 Billion Mark

[ad_1] Elon Musk sold another $3.58 billion worth of Tesla Inc. shares, bringing the total amount he’s offloaded since late last year to almost $40 billion. Elon Musk sold another $3.58 billion worth of Tesla Inc. shares, bringing the total amount he's offloaded since late last year to almost $40 billion. The latest disposal of about 22 million shares this week coincided with Musk falling from the top spot on the Bloomberg Billionaires Index, a position he'd occupied since September of last year. Tesla's market value also has slumped below the half-trillion-dollar mark for the first time since November 2020. The disclosure sent Tesla shares down as much as 3.5% to $151.33 before the start of regular trading Thursday. The stock has plunged 55% this year through Wednesday's close. ...

Tesla Isn’t Having the Epic End to the Year Elon Musk Predicted

14Dec

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Technology

Tesla Isn’t Having the Epic End to the Year Elon Musk Predicted

[ad_1] Price and production cuts contribute to the CEO squandering his status as world’s richest person. Elon Musk's prediction that Tesla would have an “epic” end of year looks more off base by the day. The ebullient outlook the CEO offered during the carmaker's last earnings call has given way to price and production cuts in China. In the US, Tesla is offering consumers something previously unthinkable: a $3,750 incentive to take delivery of certain vehicles now, rather than wait for the new year. “Tesla increasingly appears to have a demand issue,” Toni Sacconaghi, a Bernstein analyst with the equivalent of a sell rating on the stock, wrote in a report last week. He believes Tesla will need to slash prices further to stimulate demand in China, plus make permanent cuts to the c...

Tesla’s Troubles Are Piling Up While Elon Musk Is Distracted With Twitter

9Dec

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Technology

Tesla’s Troubles Are Piling Up While Elon Musk Is Distracted With Twitter

[ad_1] While Elon Musk is busy overhauling newly acquired Twitter Inc., Tesla Inc. is facing increasingly urgent issues and testing the faith of some of its chief executive’s biggest fans. While Elon Musk is busy overhauling newly acquired Twitter Inc., Tesla Inc. is facing increasingly urgent issues and testing the faith of some of its chief executive's biggest fans. Weakening demand in China is forcing the electric-vehicle maker to slow production and delay hiring at its Shanghai factory. Its top executive for that market has been called in to help out at its newest plant, in Texas, which isn't ramping up as planned. And Tesla's stock, which has lost more than $500 billion in market value this year, is under renewed pressure as Musk's advisers weigh using the billionaire's shares...

Elon Musk seeks to reassure advertisers on Twitter after chaos

10Nov

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Technology

Elon Musk seeks to reassure advertisers on Twitter after chaos

[ad_1] Elon Musk sought to reassure big companies that advertise on Twitter that his chaotic takeover of the social media platform won’t harm their brands. Elon Musk sought to reassure big companies that advertise on Twitter on Wednesday that his chaotic takeover of the social media platform won't harm their brands, acknowledging that some “dumb things” might happen on his way to creating what he says will be a better, safer user experience. The latest erratic move on the minds of major advertisers — that the company depends on for revenue — was Musk's decision to abolish a new “official” label on high-profile Twitter accounts just hours after introducing it. Twitter began adding gray labels to prominent accounts Wednesday, including brands like Coca-Cola, Nike and Apple, to indi...

Tesla Market Value Halves In a Year Rocked by Elon Musk Stake Sales

9Nov

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Technology

Tesla Market Value Halves In a Year Rocked by Elon Musk Stake Sales

[ad_1] Elon Musk’s $3.95 billion sale of Tesla Inc. stock prolongs a rough period for investors in the electric carmaker, whose market value has halved in the past year. Elon Musk's $3.95 billion sale of Tesla Inc. stock prolongs a rough period for investors in the electric carmaker, whose market value has halved in the past year after becoming tied to the twists and turns of Musk's Twitter Inc. buyout. While the Tesla chief has repeatedly said he's done selling the shares, the latest sale brings total proceeds to about $36 billion. Musk began unwinding his holding a year ago, when his Twitter followers backed him trimming his stake in response to a poll. He still owns about 14%, according to Bloomberg data. “Musk selling stock again after saying he wouldn't can only leave the do...

Elon Musk Tesla Share Sale: Billionaire Sells $3.95 bn Stock After Buying Twitter

9Nov

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Technology

Elon Musk Tesla Share Sale: Billionaire Sells $3.95 bn Stock After Buying Twitter

[ad_1] Tesla CEO Elon Musk sold at least $3.95 bn of the electric-vehicle maker’s shares just days after closing his buyout of Twitter Inc. Tesla Inc. Chief Executive Officer Elon Musk sold at least $3.95 billion of the electric-vehicle maker's shares just days after closing his buyout of Twitter Inc.Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. The documents didn't indicate that the transactions were pre-planned. The world's richest person followed through with his takeover of the social-media platform in October, after spending months trying to get out of it. In August, Musk had said he was done offloading Tesla stock and that it was important to avoid an “emergency sale” of the shares in case he was forc...

Tesla Options Hint at Trouble Ahead With Bets Around $200

25Oct

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Technology

Tesla Options Hint at Trouble Ahead With Bets Around $200

[ad_1] Tesla Inc. was the one of the biggest laggards in the S&P 500 Index. Tesla Inc. was the one of the biggest laggards in the S&P 500 Index on Monday, and options traders are betting the stock could drop further before the weekend. A put contract with a Friday expiration and a strike price of $200 was the most-traded contract for Tesla on Monday and among the 15-most popular on US exchanges overall during the day. The bearish option in the electric carmaker implies the stock has at least another 5% to fall this week. Tesla closed near $211 on Monday, down 1.5% from Friday's close after lowering prices across its lineup in China and options investors are betting shares could fall below $200 by Friday, making the $200 put contract in the money -- or available for immedi...