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Today, 2:57 PM
- Momentum favorites Chipotle (CMG -4.2%), Under Armour (UA -8.8%), Lululemon (LULU -6.5%), and Tesla Motors (TSLA -9.1%) are getting bashed again as investors decrease their risk tolerance.
- The blended loss for the four CULT stocks is steeper than what the FANG stocks are peeling off on the day.
- Aside from investor anxiety, Chipotle took a long lunch break today, while Tesla is reeling from analyst resets.
- Previously: Is it time for Tesla Motors to take on a strategic partner? (Feb. 08 2016)
- Previously: Chipotle's lunch break begins (Feb. 08 2016)
Today, 10:44 AM
- Morgan Stanley sees Tesla Motors (TSLA -5.2%) at a crossroads as it faces a number of engineering challenges with the Model X.
- Extra work on the double-hinged falcon doors in particular is seen as a cash burner.
- MS on Tesla: "It is critical that Tesla be as transparent as possible with the manufacturing challenges that may be facing the Model X including vectors such as timing, cost and potential reengineering solutions if necessary."
- Another curiosity pointed out in the note from long-time bull Adam Jonas is the lack of any road test by an automobile magazine. The Model S dazzled in early tests to help lift share price.
- Tesla is still rated at Overweight with a $333 price target, but Jonas openly wonders if Tesla should be contracting out vehicle production.
Today, 9:45 AM
- Tesla Motors (NASDAQ:TSLA) will partner with utility company Skelleftea Kraft in Sweden to provide free charging for Tesla owners at home, reports Electrek.
- The EV automaker will also supply the local Supercharger network with 100% renewable energy.
- Tesla registrations in Sweden accelerated over the last month, but only totaled about 1,000 last year.
- Shares of Tesla are down 6% in early trading, dipping to as low as $150.35.
Today, 7:49 AM
- Credit Suisse backs its favorable view on Tesla Motors (NASDAQ:TSLA) in front of Wednesday's earnings disclosure from the company.
- "We see the concern on Model X production ramp / volumes, the subject of several recent bearish notes, as overdone at this point," reads the note from analyst Dan Galves.
- Galves says the production process at Tesla's factory is "dialed-in" right now after quality issues arose early on.
- Shares of Tesla are set at Outperform with a $325 price target at CS.
- TSLA -4.97% premarket to $154.50 (52-week low territory).
Wed, Feb. 3, 7:07 AM
Tue, Feb. 2, 3:32 PM
- China is the first market outside of North America that Tesla Motors (TSLA -7.2%) has opened up for Model X orders and custom design, report Electrek.
- Initial pricing on the Model X in China is set at 1.479M Chinese yuan ($225K) for the Signature Model X P90D and 961K yuan ($146K) for the Model X 90D.
- By some estimates, Tesla has racked up over 2,600 Model X reservations in China and another 700 in Hong Kong.
- Tesla aims to begin Model X deliveries in China sometime in the second quarter.
Mon, Feb. 1, 2:43 PM
- Tesla Motors (TSLA +3.3%) has applied to the Michigan Secretary of State's office for a Class A dealership license to sell directly to the public.
- In its bid to enter Michigan, the company could try to fly around state law by establishing a relationship with a licensed repair facility or resort to legal action if Michigan snubs the request.
- There's also a grass roots movement to put the Tesla question to voters in the state on the ballot in November.
Mon, Feb. 1, 12:03 PM
- Ebullient bull Adam Jonas of Morgan Stanley cuts his 12-month to 18-month price target on Tesla Motors (NASDAQ:TSLA) by 26% to $333 in a dramatic move.
- The analyst did a reset after factoring in a later Model X ramp-up and trimming Model 3 sales expectations.
- Jonas is also reacting to the low gas price environment and lines up a lower valuation on Tesla Energy.
- Shares of Tesla are +2.4% after starting the day sluggishly.
Sun, Jan. 31, 9:43 AM
- Tesla Motors (NASDAQ:TSLA) CEO Elon Musk increased his stake in the EV automaker by exercising options at pre-IPO prices.
- Musk only paid $3.5M for the shares worth just over $100M, but had to pony up $50M to pay personal taxes on the transaction.
- The Tesla stake held by Musk is close to 22% or about $5.5B at Friday's closing price of $191.20.
- Musk still holds 2.82M options he can exercise down the road
Thu, Jan. 28, 12:42 PM
- Tesla Motors (TSLA -1.1%) CEO Elon Musk teased on trucks during an interview this week at the StartmeupHK Festival in Hong Kong.
- "I think it is quite likely we will do a truck in the future," stated Musk. "I think it’s sort of a logical thing for us to do in the future," he added.
- Shares of Tesla are lower on the day amid some risk-on trading in FANG stocks and Under Armour (+20%).
Tue, Jan. 26, 9:48 AM
- While the major focus on Tesla Motors (TSLA -2.7%) is on quarterly earnings and the update on deliveries due out on in early February, that's not stopping speculation on growth in China and the Model 3 from ramping up.
- CEO Elon Musk told Engadget that the company wants to find a local partner and plant location in China by the middle of this year. Tesla currently has 15 stores in Greater China and a charging network of 340 Superchargers and over 1,600 destination chargers.
- Electrek posted a picture of what could be the EV automaker's Model 3 (or Model Y?) prototype. The official unveiling of the Model 3 is expected to occur at the Geneva Motor Show between March 3 through March 13, although pushing release dates back isn't an unknown phenomenon for Tesla.
- Previously: JPMorgan trims view of Tesla Motors Q4 profit (Jan. 25 2016)
Mon, Jan. 25, 1:39 PM| Mon, Jan. 25, 1:39 PM | 183 Comments
Wed, Jan. 20, 7:03 AM
- Tesla Motors (NASDAQ:TSLA) filed a federal lawsuit against Hoerbiger Automotive Comfort Systems over the failure of the German supplier to properly design the falcon wing doors on the Model X.
- The EV automaker was forced to change to a new supplier in May of 2015 due to the issue.
- The legal action seeks to end Hoerbiger's efforts collect more payments from Tesla.
Tue, Jan. 19, 11:31 AM
- A FTC workshop ongoing in Washington D.C. has auto distribution issues in the U.S.on the agenda. The growth of the direct selling model will be analyzed and debated.
- The workshop will also delve into future trends in the automobiles industry, including the "sharing economy" and autonomous vehicles.
- Execs with Tesla Motors (NASDAQ:TSLA), Uber (NYSEARCA:UBR), Elio Motors, and dealership networks are all expected to give input.
- FTC workshop live video stream
Mon, Jan. 18, 3:12 AM
- For the third time in roughly a year, Elon Musk's SpaceX on Sunday failed to successfully land the main part of a spent rocket on a floating ocean platform, although it came pretty close.
- The booster maneuvered back to its destination as intended, but touched down harder than planned amid 10- to 15-foot swells, causing it to tip over and explode.
- Last month, SpaceX made a successful, first-of-its-kind return of a used booster that hurtled back from space and made a pinpoint touchdown on land without incurring any significant damage.
- Watch the video here
- Previously: SpaceX Falcon landing shakes up space industry (Dec. 22 2015)
Thu, Jan. 14, 10:05 AM
- Investors continue to blow some steam off favorite names from 2015. A reset of how the stocks trade on an earnings multiple basis could have long-lasting implications.
- Under Armour (NYSE:UA) is down 4.66% to $68.52. YTD -15.1%.
- Tesla Motors (NASDAQ:TSLA) is off 2.66% to $194.98. YTD -18.9%.
- Netflix (NASDAQ:NFLX) trades 2.87% lower at $103.50. YTD -10.8%.
- All three stocks are well-below their 2015 highs.
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