Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Tesla’

The Game Has Changed at Tesla

Posted by hkarner - 20. August 2018

Date: 19-08-2018
Source: The Wall Street Journal

SEC investigation means Tesla’s precarious cash situation could become critical in the coming months

Tesla’s investors, captivated by the electric car maker’s future growth prospects, have ignored its rickety finances. That is no longer possible.

Tesla is in trouble after a chaotic week. Elon Musk’s supposed plan to take the company private at $420 a share looks more like a fantasy. The Securities and Exchange Commission is investigating the company on multiple fronts, including issues related to disclosure about production of the Model 3 sedan. Shares dove 8% Friday morning.

The SEC investigation is a threat to investors, albeit not in the way one might expect. Whatever fine might come if Tesla was found to violate regulations would have minimal impact. The most important impact is Tesla may struggle to raise the cash it badly needs while the investigation is going on. Few investors will buy new shares in a company under investigation. Those who would will likely demand tough terms, which would come at the expense of current investors.

These investigations can take time, and a look at Tesla’s balance sheet suggests there isn’t much time to spare. The company had $2.2 billion in cash at the end of the second quarter, but it burned through $1.8 billion of cash in the first half of the year. Accounts payable, meanwhile, topped $3 billion. Tesla has more than $10 billion in total debt and $23 billion in total liabilities, and has never generated profits over a full year. Moody’s Investors Service warned back in March that Tesla needs to raise $2 billion of capital in the “near term.”

Mr. Musk has disputed the idea that Tesla needs to raise money, in part because profits are right around the corner. He claimed on the second-quarter earnings call earlier this month that Tesla will generate profits and cash flow in the third quarter, but executives demurred when an analyst asked if Tesla turned a profit in July. The company didn’t immediately respond to a question on whether Tesla made money in the quarter through Thursday. Den Rest des Beitrags lesen »

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Tesla founder Elon Musk says past year excruciating and ‚worst is yet to come‘

Posted by hkarner - 18. August 2018

Date: 17-08-2018
Source: The Guardian

In emotional interview, Tesla founder says he has endured ‘the most difficult and painful’ time of his career

Elon Musk spoke to the New York Times about his difficult year.

Elon Musk has said the past year of his professional life has been “excruciating” and that stress over his business had caused his health to deteriorate.

In an emotional interview with the New York Times the founder of electric car maker Tesla, also revealed that the pressures of work had caused him to spend his birthday stuck in the Tesla factory and almost miss his brother’s wedding.

“This past year has been the most difficult and painful year of my career,” he said in the interview.

Musk, whose company posted a record $709.6m net loss in the first quarter of this year while struggling to manufacture large numbers of its Model 3 mass-market electric car, said he had been working up to 120 hours a week and as a result his health had been “not great” and his friends had been worried about him. Den Rest des Beitrags lesen »

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Posted by hkarner - 12. April 2018

FURCHE-Kolumne 238 Wilfried Stadler
Nicht weniger als 12 Ehrendoktorate – darunter auch solche von den Universitäten Graz und Prag – wurden einst Nikola Tesla verliehen. Der geniale Erfinder, 1854 in der Donaumonarchie auf dem Gebiet des heutigen Kroatien geboren und 1943 in New York verstorben, durchlebte im Laufe seiner Karriere alle Höhen und Tiefen eines schöpferischen Lebens, mit fulminanten Erfolgen und ebenso kapitalen Abstürzen. Eine Büste im Bostoner Massachusetts Institute of Technology (MIT) erinnert an diesen Pionier der modernen Elektro- und Energietechnik.

Teslas Geschichte imponierte dem Jungunternehmer Elon Musk so sehr, dass er ihn zum Namensgeber seiner 2004 im Alter von 33 Jahren gegründeten Autoherstellerfirma machte. Kurz zuvor hatte er erfolgreich seinen Anteil an der von ihm mit gegründeten Internet-Bezahlplattform Paypal verkauft.

Elon Musk erweist sich als mindestens so expeditiv wie sein Vorbild. Die wiederverwendbaren Trägerraketen seines Raumfahrtsunternehmens „SpaceX“ transportieren Satelliten um Bruchteile der bisherigen Kosten in den Orbit. Mit „SolarCity“ arbeitete er sich an die Spitze des amerikanischen Solarstrom-Marktes vor. Und als ob es damit noch nicht genug zu tun gäbe, gründete der Workaholic auch noch „Hyperloop“. Zweck dieses Projekts ist die Untertunnelung hoch frequentierter Strecken, auf denen Personen in Hinkunft in ultraschnellen Kapseln via Luftpolster von einem Ort zum anderen transportiert werden sollen. Den Rest des Beitrags lesen »

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Options Traders Brace For More Turmoil in Tesla

Posted by hkarner - 4. April 2018

Date: 03-04-2018
Source: The Wall Street Journal

Tesla Inc. shares just finished their worst month in more than seven years. Now, options traders are gearing for more turbulence.

A measure of expected volatility in the stock is at the highest its been over the past year, indicating that there could be more gyrations ahead. An options measure called skew–a yardstick of how much its costs to protect against further stock declines–is near a year-long high for Tesla, Trade Alert data show.

The electronic auto maker’s shares fell about 5% on Monday, and options investors have been positioning for extreme moves in the company’s future stock price, Trade Alert data show.

Some of the top open interest positions–or number of options contracts outstanding– pay out if Tesla shares lose almost all of their value by January. The top open interest position on data provider Trade Alert is a bearish put contract that can be exercised if shares hit $50, about 80% below its share price. The last time the stock traded near that level was 2013. Tesla shares closed Monday at $252.48. Den Rest des Beitrags lesen »

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The Clock Is Ticking Faster at Tesla

Posted by hkarner - 29. März 2018

Date: 28-03-2018
Source: The Wall Street Journal

Downgrade of Tesla bonds puts Elon Musk in a tough position

A Tesla Model 3.

Tesla will soon need money again. The trouble is, raising it suddenly looks a lot more challenging.

Moody’s Investors Service downgraded Tesla’s debt on Monday afternoon, citing persistently negative cash flow and continued production issues with the Model 3 mass-market sedan. Moody’s is keeping a negative outlook on the credit due to “the likelihood that Tesla will have to undertake a large, near-term capital raise in order to refund maturing obligations and avoid a liquidity shortfall.”

Tesla’s bonds due in 2025, issued just last summer, were quoted near 90 cents on the dollar after hours. Meanwhile, the stock is down 23% in about a month, making equity more expensive. There are plenty of reasons that Tesla’s magic touch with the capital markets is fading fast. Den Rest des Beitrags lesen »

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Tesla’s Make-Or-Break Moment Is Fast Approaching

Posted by hkarner - 16. März 2018

Date: 15-03-2018
Source: The Wall Street Journal

The auto maker is racing to meet an ambitious production target for its Model 3 sedan

The Model 3 is Tesla’s mainstream electric-car offering and a key part of Elon Musk’s strategy to broaden the company’s business.

Elon Musk recently told attendees at the South by Southwest festival that two things are keeping him up at night: an apocalyptic future created by artificial intelligence, and production delays of Tesla Inc.’s Model 3 car.

Mr. Musk has good reason to worry about Tesla. The auto maker is entering one of the most critical phases in its history, a make-or-break period in which Tesla must boost production of the Model 3 or possibly face severe financial consequences.

In April, Tesla will reveal whether it is on track to meet an ambitious second-quarter target of producing 5,000 Model 3s a week—a goal that it already twice delayed. The Model 3 is Tesla’s mainstream electric-car offering, priced more affordably than Tesla’s luxury models, and a key part of Mr. Musk’s strategy to broaden the company’s business. Den Rest des Beitrags lesen »

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Why China Will Beat Tesla in the Electric Car Race

Posted by hkarner - 22. Januar 2018

Date: 21-01-2018
Source: TIME

From a cursory look at the recent news from Tesla, a casual observer could be forgiven for thinking that the dream of transitioning the world to electric vehicles has stalled. The Tesla brand is more closely associated with electric vehicles than any other, and in the past year the company has struggled to deliver the $35,000 Model 3. CEO and founder Elon Musk described the internal delays related to producing Tesla’s battery and an outside supplier’s falling behind as “production hell,” while customers vented on social media and the company declared a record third-quarter loss of more than $600 million.

As Tesla scrambles to maintain its position as the world’s foremost electric-vehicle brand, traditional automakers in the U.S. and Europe have invested billions of dollars to advance the technology. And a slew of Chinese companies are churning out hundreds of thousands of electric vehicles a year. Den Rest des Beitrags lesen »

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Will Tesla Die for Lack of Cobalt?

Posted by hkarner - 1. Dezember 2017

Date: 30-11-2017
Source: The Wall Street Journal

Probably not. The dreaded cobalt shortage seems like a story we have heard before

Wedged between iron and nickel on the periodic table, cobalt has suddenly emerged as the electric car killer.

The once-obscure metal, a critical part of batteries, has nearly tripled in price since last summer as concerns grow about whether there will be enough cobalt to meet demand.

The ingredients are certainly there for a shortage. Output is concentrated in the politically unstable Democratic Republic of Congo and refining is dominated by China. Demand is set to soar as companies from Tesla Inc. to Volkswagen AG ramp up production of electric vehicles.

With the price of cobalt hitting $30 a pound, investors have poured into shares of companies that mine or own rights to the metal. Canada’s Cobalt27 Capital Corp., which believes there is already a deficit in supply which will worsen, is up 162% this year.

“I don’t think automobile manufacturers are as concerned about price as availability,” says George Heppel, a consultant at materials research firm CRU International who says the shortage could peak in 2021. Den Rest des Beitrags lesen »

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US-Investor Jim Chanos prophezeit Teslas Pleite

Posted by hkarner - 15. November 2017

15. November 2017, 15:06 derstandard.at

Der Großanleger geht von Elon Musks Rücktritt bis 2020 und fallende Kurse aus

Der US-amerikanische Investor Jim Chanos setzt auf die Pleite des Automobilkonzerns Tesla, wie er beim Global Investment Outlook Summit der Nachrichtenagentur Reuters mitteilte. Chanos geht davon aus, dass CEO Elon Musk noch vor 2020 zurücktreten wird. Laut dem Investor mit griechischen Wurzeln wird sich Musk künftig vermehrt auf sein privates Raumfahrtunternehmen Space X konzentrieren. Der Investor machte keine genaueren Zeitangaben zu einer möglichen Pleite des E-Auto-Konzerns. Laut Chanos würden Anleger nicht auf Tesla selbst setzen, sondern auf die Innovationskraft von Musk. Tesla hat bisher noch nicht auf das Statement von Chanos reagiert. Der US-Amerikaner ist Chef der Investorenfirma Kynikos Associates und seit 1980 als Leerkäufer tätig – er setzt also auf fallende Kurse. Den Rest des Beitrags lesen »

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The Truth Is Catching Up With Tesla

Posted by hkarner - 9. Oktober 2017

Date: 08-10-2017
Source: The Wall Street Journal

CEO Elon Musk is a visionary, but there is a fine line between setting aggressive goals and misleading shareholders

New revelations about Tesla Inc.’s production of the highly anticipated Model 3 sedan should shock, but not surprise, investors.

The Wall Street Journal reported Friday that Tesla has recently been building major portions of the Model 3 by hand. This comes less than a week after Tesla announced it fell short of its third-quarter production guidance of 1,500 cars by more than 80%.

At the time, Tesla attributed the shortfall to “production bottlenecks.” On Friday, Tesla said it would postpone its launch event for a new truck to November to deal with Model 3 issues and to help provide assistance to Puerto Rico.

Tesla Chief Executive Elon Musk is known as a risk-taker, which has endeared him to Wall Street analysts and investors alike. There is a fine line, however, between setting aggressive goals and misleading shareholders. Den Rest des Beitrags lesen »

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