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Posts Tagged ‘Tesla’

Tesla Shares Rally at Fastest Pace Since 2013

Posted by hkarner - 5. Februar 2020

Date: 04‑02‑2020

Source: The Wall Street Journal

The advance is testing the resolve of short sellers who have made the electric‑car maker one of the most bet‑against companies in financial markets

Tesla Inc. shares are rallying at their fastest pace in years, testing the resolve of short sellers who have made the electric‑car maker one of the most bet‑against companies in financial markets.

At the beginning of the year, Tesla shares behaved much like any other stock in the market: They headed higher.

But as a wave of selling spurred by worries about the global coronavirus outbreak wiped out the broader market’s gains, Tesla shares did something unexpected: They continued rising, and at breakneck pace.

The ascent has been so rapid that Tesla shares, which jumped 20% to a closing record Monday, are now up 86% for the year—outperforming every single stock in the S&P 500, as well as bitcoin and gold. In fact, Tesla’s rise over the past five trading days marked its best five‑day stretch since a rally in May 2013, when the company posted its first‑ever quarterly profit.

What has driven the company to this point? The rally got a boost last week when Tesla reported making record deliveries in the fourth quarter and said it planned to deliver more cars globally in 2020. A flurry of analysts also have helped fuel the stock’s rise, with Argus Research bumping up its share‑price target to $808 from $556 Monday.

The gains are proving to be a thorn in skeptics’ side. The value of short positions on Tesla dropped by a record $5.8 billion in January, according to financial analytics firm S3 Partners. Short sellers borrow stocks and sell them, profiting if they are able to repurchase the shares at lower prices. S3 Partners estimates the number of Tesla shares that are shorted dropped by 1.4 million over the past 30 days.

“The million dollar question is when will the next wave of serious short covering occur and whether it will be a continuous trickle or a tsunami?” said Ihor Dusaniwsky, managing director at S3 Partners, in emailed comments.

Tesla has had a particularly fraught history with short sellers. Chief Executive Elon Musk has sparred publicly with his critics, once writing to hedge‑fund manager David Einhorn to tell him he would send him “a small gift of short shorts.” More recently, Mr. Musk applauded a move by Japan’s government pension fund to suspend lending shares for short selling, writing on Twitter, “Bravo, right thing to do! Short selling should be illegal.”

That hasn’t stopped skeptics from placing bets on Tesla’s fall. Den Rest des Beitrags lesen »

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Germany’s Luxury Car Makers Lose their Shine

Posted by hkarner - 24. Januar 2020

Date: 23‑01‑2020

Source: The Wall Street Journal

Increased competition, legal woes and the push toward electric vehicles hit profits at Daimler, Volkswagen, BMW and Audi

Daimler—owner of the Mercedes‑Benz brand—issued its third profit warning in nine months and said profits fell nearly 50% last year.

BERLIN—After decades of churning out huge profits and setting the standard for premium cars, Germany’s top luxury auto makers are on the retreat, hurt by increased competition, allegations of foul play and tech‑heavy upstarts. 

The combination of forces hitting the German premium brands was on display Wednesday, when Daimler AG  —owner of the Mercedes‑Benz brand—issued its third profit warning in nine months and said profits fell nearly 50% last year. In addition, Tesla Inc. overtook Volkswagen AG as the world’s No. 2 most valuable auto maker. Den Rest des Beitrags lesen »

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Why Elon Musk has learned to love China

Posted by hkarner - 6. Januar 2020

Date: 05‑01‑2020

Source: The Economist: Schumpeter

Subject: Cloning Tesla: electric‑vehicle wars in China

William bin li is as close as China may have come to cloning Elon Musk. The founder of nio, a swanky electric‑vehicle (ev) company, is in his 40s, a tech nerd, and though not as meme‑able as the founder of Tesla, is treated like a rock star by his adoring customers. nio, worth $4bn, is a fraction of the size of Mr Musk’s Tesla, valued at $75bn, but of all China’s 30‑odd ev startups, it is the best known. It also raises and dashes investors’ hopes with Tesla‑like frequency. On December 30th nio’s shares soared 54% when Mr Li said output had probably reached 8,000 vehicles in the fourth quarter from almost 4,800 in the third. But over the whole of 2019 they lost almost 40% (see chart).

In truth, Mr Musk is in a league of his own. But Mr Li has long had the edge on him in one respect. As our Technology Quarterly in this issue reports, nio is emblematic of China’s ambition to be a hub of global ev production, dominating electric vehicles in the 21st century as squarely as America did the internal‑combustion engine in the 20th. As such, China would be a natural place to produce a “Tesla killer”, as nio was dubbed during a cbs interview with Mr Li aired in 2019.

 

Yet if nio is trying to topple Tesla, it is going about it in an odd way. It is copying some of the very aspects of Tesla’s business model that have made the American firm’s survival a matter of constant concern, such as lavish spending on sophisticated technology, resulting in correspondingly large holes in its cashflow statements. If anything can kill Tesla, it is more likely to be its perennial difficulty in generating cash than competition from a Chinese upstart with the same problem. Ironically, it could be China that ultimately secures Tesla a bright future. If only nio could be so lucky. Den Rest des Beitrags lesen »

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Artificial eyes: How robots will see in the future

Posted by hkarner - 27. November 2019

Date: 26-11-2019
Source: BBC By Janek Schmidt

Early Lidar „spinners“ were bulky devices

It’s never good when a giant of the technology business describes your product as „a fool’s errand“.

But that’s how Tesla’s chief executive Elon Musk branded the laser scanning system Lidar, which is being touted as the best way for autonomous cars to sense their environment.

In April he said Lidar was „expensive“ and „unnecessary“. He believes that cameras combined with artificial intelligence will be enough to allow cars to roam the streets without a human driver.

Lidar emits laser beams and measures how long they take to bounce back from objects, and this provides so-called point-clouds to draw 3D maps of the surroundings.

These can be analysed by computers to recognise objects as small as a football or as big as a football field and can measure distances very accurately.

Despite Mr Musk, some argue these $10,000 (£7,750) pieces of kit are going to be essential. „For a car to reach anything close to full autonomy it will need Lidar,“ says Spardha Taneja of Ptolemus Consulting Group, a mobility consultancy. Den Rest des Beitrags lesen »

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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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NIKOLA TESLA UND DIE US-BÖRSEN

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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