All articles tagged with #tesla inc
Argentine President Javier Milei will meet with Elon Musk at Tesla's factory in Austin, Texas, during Musk's week-long trip abroad. The meeting was originally scheduled for Saturday but has been rescheduled to Friday morning.
Elon Musk stated that his prescribed use of ketamine helps alleviate low moods and is in the best interest of investors in Tesla Inc. and his other companies, emphasizing that what matters to investors is execution and that if there is something he's taking that contributes to Tesla's success, it should be continued.
Lucid Group Inc.'s stock plunged to another record low after the company's fourth-quarter electric vehicle deliveries fell short of Wall Street expectations, with shares sinking 6.9% in midday trading. The company reported delivering 1,734 EVs, missing the FactSet consensus of 2,000, and producing 2,391 vehicles in the fourth quarter, down about 32% from last year. This disappointing news also impacted other EV makers, with Tesla Inc. and Rivian Automotive Inc. seeing declines in their stock prices.
Nio Inc.'s stock bounces off a three-year low, rising 0.8% in premarket trading after a four-day losing streak. The stock was supported by a gain in the Shanghai Composite Index, while peers Li Auto Inc. and Xpeng Inc. also saw gains. Tesla Inc., the Texas-based EV giant, generated a significant portion of its third-quarter revenue.
Concerns are rising about the impact of a potential 10% fall in Nvidia Corp. stock on the S&P 500 index and Nasdaq Composite, as Tesla Inc. has already seen a 20% decline in its shares over the past three months. The recent poor earnings report from Nvidia has added to worries about the stock's performance.
Tesla Inc. stock fell 4.23% on Friday, underperforming the overall stock market, as the NASDAQ Composite Index and Dow Jones Industrial Average also experienced losses. This marked the third consecutive day of losses for Tesla. The stock closed $54.41 below its 52-week high and had higher trading volume than its 50-day average.
Cathie Wood's ARK Investment Management bought shares of Meta Platforms Inc., the company behind Facebook, for the first time since 2021. The flagship ARK Innovation ETF and the Ark Next Generation Internet ETF added shares of Meta while selling some of their Tesla Inc. holdings. Tech stocks have surged this year, with the Nasdaq 100 up 35% and Meta up 125%. Cathie Wood became popular during the pandemic as her funds surged, but her suite of products, including ARKK, have suffered more recently.
Lucid Group Inc reported lower production and delivery figures for Q1 2022, in line with its guidance of weak production this year. The luxury electric car-maker produced 2,314 vehicles and delivered 1,406 in the quarter ended Mar. 31, lower than the 3,493 vehicles produced and 1,932 delivered in the December quarter. The company was hit by aggressive price cuts sparked by Tesla Inc that lured consumers away from its luxury cars amid rising interest rates and high inflation.