TSLA – Tesla, Inc. Stock Forum
March 3, 2019 at 10:27 pm #169221
TSLA – Tesla, Inc. – Stock Forum
Tesla’s mission is to accelerate the world’s transition to sustainable energy.
TSLA – Tesla, Inc. is an American automotive and energy company based in Palo Alto, California. The company specializes in electric car manufacturing and, through its SolarCity subsidiary, solar panel manufacturing.
Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric, that electric vehicles can be better, quicker and more fun to drive than gasoline cars. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
Consumer Goods | Auto Manufacturers – Major | USA
July 2, 2019 at 6:37 pm #327518
$TSLA: Tesla in the second quarter, we achieved record production of 87,048 vehicles and record deliveries of approximately 95,200 vehicles. In addition, we made significant progress streamlining our global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to our working capital position.June 3, 2019 at 11:28 am #312541May 17, 2019 at 9:01 am #300429
A Large Fund Manager Sold 7.4 Million Shares of Tesla, in the first quarter of the year.That means the fund manager, T. Rowe Price, reduced its stake in the electric car maker by 81%. T. Rowe Price was the second-largest institutional shareholder of Tesla at the end of last year. Now it owns less than 1% of the company’s outstanding shares. Tesla’s stock is down more than 30% this year. $TSLAMay 16, 2019 at 5:52 am #299089May 15, 2019 at 5:47 am #297775
How will Tesla handle the competition as they start to stack up and more manufacturers bring electric vehicles to the automotive market?May 3, 2019 at 8:18 pm #288596
US rejects Tesla’s bid for tariff exemption for Model 3 ‘brain’
U.S. trade officials rejected the request from Tesla for relief from President Donald Trump’s 25% tariffs on the Chinese-made computer “brain” of its Model 3 electric vehicle, one of more than 1,000 product denials linked to China’s industrial development plans.
According to documents filed by U.S. Trade Representative’s office (USTR) and reviewed by Reuters, Tesla’s and other tariff exclusion requests for Chinese-made products from aircraft parts to biotechnology instruments were all denied because they were deemed “strategically important” to the “Made in China 2025” program.May 3, 2019 at 7:35 pm #288584
Tesla sent employees an email telling them to stop leaking info
Tesla’s security team sent a warning to employees this week to stop leaking company information.
The email, which was shared with CNBC and verified with multiple current employees who requested anonymity, warned that outsiders who “will do anything to see us fail” are “targeting” employees for information via social networks and other methods.
It reminded employees that they signed confidentiality agreements, and warned them, “Tesla will take action against those who improperly leak proprietary business information or violate the non-disclosure obligations to which we all agreed. This includes termination of employment, claims for damages, and even criminal charges.”
The email was in part directed at leaks to the media, noting, “In January an employee was identified for sharing confidential business information on Twitter, including production numbers, with journalists.”
It also said somebody was recently fired for posting the phone number to an internal meeting on social media.May 2, 2019 at 4:07 pm #287387
Strong run today after the offering. Elon said he would commit to buy about $10M in shares. Rallied nice.May 2, 2019 at 6:52 am #286714April 27, 2019 at 10:22 am #282184
I think Elon might have been feeling the pressure of the TSLA stock price drop and went ahead and made a deal with the SEC to hopefully stop the bleeding…
Tesla CEO Elon Musk has reached an agreement with the Securities and Exchange Commission over his use of Twitter, according to an amended filing in U.S. District Court of the Southern District of New York.
The late Friday agreement, which still needs to be approved by a judge, lays out exactly what kind of information requires formal legal review, before being shared. This oversight process is now required for the company’s blog, statements made on investor calls, as well as social media posts for material information.
The filing laid out the following items in that list:
-the Company’s financial condition, statements, or results, including earnings or guidance;
-potential or proposed mergers, acquisitions, dispositions, tender offers,or joint ventures;
-production numbers or sales or delivery numbers (whether actual, forecasted, or projected) that have not been previously published via pre-approved written -communications issued by the Company ( “Official Company Guidance”) or deviate from previously published Official Company Guidance;
-new or proposed business lines that are unrelated to then-existing business lines (presently includes vehicles, transportation, and sustainable energy products);
-projection, forecast, or estimate numbers regarding the Company’s business that have not been previously published in Official Company Guidance or deviate from previously published Official Company Guidance;
-events regarding the Company’s securities (including Musk’s acquisition or disposition of the Company’s securities), credit facilities, or financing or lending arrangements;
-nonpublic legal or regulatory findings or decisions;
-any event requiring the filing of a Form 8-K by the Company with the Securities and Exchange Commission, including:
– a change in control; or
– a change in the Company’s directors; any principal executive officer, president, principal financial officer, principal accounting officer, principal operating officer, or any person performing similar functions, or any named executive officer; or
-such other topics as the Company or the majority of the independent members of its Board of Directors may request, if it or they believe pre-approval of communications regarding such additional topics would protect the interests of the Company’s shareholders;
Tesla did not immediately reply to a request for comment.April 26, 2019 at 5:47 pm #281956
TSLA NY Federal Court Filing Shows Tesla’s ELon Musk Has Reached Deal With SEC Related To Twitter UseApril 26, 2019 at 2:50 pm #281754
Falling KnifeApril 24, 2019 at 7:29 pm #279269
TSLA Tesla Misses on earnings, by a lot. Here is their 2019 First quarter update. https://ir.tesla.com/static-files/b2218d34-fbee-4f1f-ac95-050eb29dd42f
TSLA reported a first-quarter bottom-line loss of $2.90 per share on revenue of $4.541 billion, missing analyst expectations of a 69-cent loss on $5.44 billion in revenue. (That’s ALOT) Even though it’s an improvement over the first quarter of 2018, when Tesla posted a loss of $4.19 per share on revenue of $3.4 billion.
– Operating income of $521.8 million with a negative 11.5-percent operating margin;
– An end-of-quarter cash balance of $2.2 billion, for a 40-percent percent sequential decrease;
– Negative net cash from operating activities of $639.6 million;
– A 4.1-percent fall in auto GAAP gross margins; and
– A 13-percent quarter-over-quarter drop in energy storage revenue to $324.6 million.
Tesla reaffirmed prior guidance of 360,000 to 400,000 vehicle deliveries this year.April 18, 2019 at 8:30 am #272384
TSLA – Tesla Vehicle Bursts Into Flames, Burns For Hours In MonroevilleApril 13, 2019 at 11:38 am #266046
Tesla starts offering leases for Model 3
Tesla on Thursday April 11th started leasing out its Model 3 sedan in the United States, in a financing option that would increase the electric car maker’s customer base.
Tesla said its customers in the United States would be able to lease any Model 3 variant for a small down payment and monthly payments thereafter, but they will not have the option to buy the car at the end of the lease.
The company also said all its cars would now come with the autopilot feature, pushing up the base price. Autopilot was previously an optional feature but will now be included in all cars for less than the prior cost of the option.April 5, 2019 at 8:30 am #255487
What to expect after Elon Musk’s day in court
Muzzle? Fine? Removal? What to do about Elon Musk?
The Tesla CEO had his day in court Thursday for a hearing in his ongoing battle with the Securities and Exchange Commission. This time, the financial regulators alleged Musk broke the terms of a prior settlement agreement by posting material company information on Twitter earlier this year. Musk claims he did nothing wrong.
Former SEC prosecutor Elliot Lutzker believes the agency will back down without removing Musk from the CEO position, but only after Musk pays a fine significantly larger than the $20 million he paid last year to settle his original dispute with the SEC, which stemmed from the CEO’s infamous “funding secured” tweet where he suggested he was going to take Tesla private.
But Lutzker says he doesn’t think Musk will be able to stay out of trouble “unless he gives up Twitter.”
The latest round the legal battle started on Feb. 19, when Musk tweeted to his more than 24 million Twitter followers: “Tesla made 0 cars in 2011, but will make around 500k in 2019.”
He later tweeted a clarification stating: “Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.”
On Wednesday night, Tesla reaffirmed its full-year forecast of 360,000 to 400,000 vehicle deliveries in 2019 while at the same time reporting disappointing first-quarter deliveries — about 63,000 of its electric vehicles versus analysts’ expectations of 76,000.
So, to hit the low end of its guidance, Tesla would need to deliver 297,000 additional vehicles to customers in 2019, or an average of 99,000 per quarter. That’s more than Tesla has ever delivered in any quarter — its record is 90,700 during the last quarter of 2018.
Judge Alison Nathan heard oral arguments in Manhattan federal court on Wednesday but rather than rule immediately, she asked Tesla and the financial regulators to try to work out their differences within two weeks.
In response, Musk said in a statement, “I have great respect for Judge Nathan, and I’m pleased with her decision today. The tweet in question was true, immaterial to shareholders, and in no way a violation of my agreement with the SEC. We have always felt that we should be able to work through any disagreements directly with the SEC, rather than prematurely rushing to court. Today, that is exactly what Judge Nathan instructed.”
CNBC asked former Lutzker, now a corporate and securities partner at Davidoff Hutcher & Citron, for his take on the case.
“When they entered into the settlement, the SEC thought they’d solve the problem. And Musk thought he didn’t have to get preapproval of his tweets. He’s wrong.”
He suggests that the SEC will probably have to walk back the contempt matter.
“It is clear what both sides want right now,” Lutzker said. “The SEC wants compliance with the settlement. Musk’s attorneys want the SEC to drop the contempt proceedings, which they will need to do as he is not a recidivist securities law violator, just a recidivist tweeter.”
But he also thinks Musk’s attorneys went a bit far with their argument. “They keep saying the SEC is trying to violate his First Amendment rights. That’s going too far. It’s not a vendetta.”
If an agreement happens: Lutzker expects a big fine to be part of any agreement.
“If contempt, and a move to suspend or bar Musk as an officer, are dropped, Musk will need to pay a hefty fine, substantially bigger than the $20 million already paid. They will work out a settlement again, which the court must approve. Whether Musk can follow it is doubtful — unless he gives up Twitter.”
If no agreement is reached: If the SEC and Musk cannot reach an agreement, Lutzker predicts the court will try to thread the needle and punish Musk without hurting Tesla shareholders.
“The court is going to try to come down with some decision that won’t be adverse to the shareholders of Tesla,” he said.
“I don’t think they’ll remove him as CEO because he didn’t do anything criminal. In all likelihood there will be a substantial fine. There could be a possible short-term suspension of Musk as CEO. They already removed him as chairman of the board and made the company replace him as chairman. The reason they won’t remove him as CEO is that he is the company, for better or for worse.”
Longer term, the SEC needs to revisit its policy allowing public company executives to use social media as means of communicating with shareholders, Lutzker added.
Whether it’s Twitter, Facebook or another platform, he said, “I don’t think they previously envisioned that social media would be a sole, or primary means, of communications with shareholders, especially by a CEO on the fly.”April 4, 2019 at 5:33 am #253384
Tesla ships 63,000 vehicles in Q1, missing expectations – Stock price drops almost 7% in before the open today.April 4, 2019 at 5:31 am #253383
Tesla Q1 2019 Vehicle Production & Deliveries
PALO ALTO, Calif., April 03, 2019 (GLOBE NEWSWIRE) — In the first quarter, we produced approximately 77,100 total vehicles, consisting of 62,950 Model 3 and 14,150 Model S and X.
Deliveries were approximately 63,000 vehicles, which was 110% more than the same quarter last year, but 31% less than last quarter. This included approximately 50,900 Model 3 and 12,100 Model S and X.
Due to a massive increase in deliveries in Europe and China, which at times exceeded 5x that of prior peak delivery levels, and many challenges encountered for the first time, we had only delivered half of the entire quarter’s numbers by March 21, ten days before end of quarter. This caused a large number of vehicle deliveries to shift to the second quarter. At the end of the first quarter, approximately 10,600 vehicles were in transit to customers globally.
Because of the lower than expected delivery volumes and several pricing adjustments, we expect Q1 net income to be negatively impacted. Even so, we ended the quarter with sufficient cash on hand.
In North America, Model 3 was yet again the best-selling mid-sized premium sedan, selling 60% more units than the runner up. Inventory of Model 3 vehicles in North America remains exceptionally low, reaching about two weeks of supply at the end of Q1, compared to the industry average of 2-3 months.
Despite pull forward of demand from Q1 2019 into Q4 2018 due to the step down in the federal tax credit, US orders for Model 3 vehicles significantly outpaced what we were able to deliver in Q1. We reaffirm our prior guidance of 360,000 to 400,000 vehicle deliveries in 2019.
Given that Tesla vehicle production currently occurs entirely from one factory in the San Francisco Bay Area, but must be delivered to customers all around the world, production could be significantly higher than deliveries, as it was this quarter, when production exceeded deliveries by 22%.
We’ve just begun the global expansion of Model 3, and we want to thank our employees for their hard work and our customers for supporting our mission. We are doing everything we can to deliver cars globally as quickly as possible and look forward to continuing to scale deliveries throughout the year.
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. We count a produced but undelivered vehicle to be in transit if the related customer has placed an order or paid the full purchase price for such vehicle. Final numbers could vary by up to 0.5%. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
Certain statements herein, including statements regarding expected future vehicle deliveries and production and our expected financial results, are “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.March 29, 2019 at 9:24 am #245615
TESLA: ELECTRIC NOISE
The Big Story · Featuring Grant Williams
Published on: March 27th, 2019 • Duration: 34 minutes • Topic: Valuation, Technology, Sentiment
How did Tesla become the most polarizing company in stock market history? In this episode of “The Big Story,” Grant Williams explores the fierce debate between those who believe in Elon Musk’s vision, and the obsessive community of short sellers who sees massive corporate fraud. The lines are drawn and the battle sometimes gets personal in a story that encapsulates the divides that define the 21st century. Tesla is more than just an electric car company — it represents our obsession with Silicon Valley and celebrity culture, the promise of green energy and AI, the corrosive impact of social media, and a roaring stock market that could soon come crashing down. Filmed from August 2018 to March 2019 in New York, San Francisco, Los Angeles and other locations.March 26, 2019 at 9:07 am #239798
Tesla, TSLA — The automaker and CEO Elon Musk have won a second dismissal of a securities fraud lawsuit alleging that misleading comments were made about Model 3 production. The suit had originally been dismissed in October 2017 but the judge in the case allowed the plaintiffs to file an amended suit.March 26, 2019 at 9:06 am #239797
TSLA Tesla could rally nearly 40 percent, but that doesn’t mean it’s a buy, technician saysMarch 26, 2019 at 9:05 am #239796
Solar Alliance Becomes Tesla Approved VendorMarch 25, 2019 at 6:56 am #237563
TSLA PT Lowered to $210 at RBC CapMarch 21, 2019 at 9:54 pm #234870
Elon Musk tells Tesla staff that deliveries is top priority.March 19, 2019 at 10:54 am #227467
Tesla Tweet, Due to unusually high volume, Tesla was unable to process all orders by midnight on Monday, so the slight price rise on vehicles is postponed to midnight Wednesday