Are Tesla investors losing confidence in Elon Musk’s vision of the future? Or are they still inflating the company’s value based on their faith in the cofounder? For the past several quarters after Tesla has unveiled earnings, I’ve been calculating a metric that I’ve dubbed The Musk Magic Premium. The figure estimates both the portion…
Tesla shares fell on Thursday after CEO Elon Musk said the company could face a “few rough quarters” as it transitions to a future focused less on selling cars and more on offering self-driving taxis. Many prospective buyers have been turned off by Musk’s foray into right-wing politics, and the competition has ramped up in…
WASHINGTON — President Trump said Thursday he has no interest in stripping Elon Musk-owned companies of billions in federal money — adding that he wants the former “first buddy” to “thrive.” “Everyone is stating that I will destroy Elon’s companies by taking away some, if not all, of the large scale subsidies he receives from…
Tesla just had its roughest quarter in at least a decade, but some analysts and investors are still dreaming big. Elon Musk’s carmaker said on Wednesday that revenues plunged 12% year-over-year to $22.5 billion in the second quarter. Tesla’s stock fell as much as 9% in early trading on Thursday morning on the disappointing earnings,…
Tesla shares plunged as much as 10% in early trading Thursday after the company posted its steepest sales drop in more than a decade – and CEO Elon Musk warned the slump may not end anytime soon. The embattled electric carmaker reported that revenue from car sales fell 16% to $16.7 billion in the second…
He helped him get elected, got a cabinet post, donated $300 million, and even let his son attend White House dinners. Then came the breakup—and the tweet Musk later deleted: Donald Trump was in the Epstein files. And now we know—he was right. Pam Bondi privately told Trump in May that his name appeared in…
Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology conference at the Porte de Versailles exhibition center in Paris on June 16, 2023. Gonzalo Fuentes | Reuters Tesla reported a 16% decline in automotive revenue as sales fell for a second straight quarter and again trailed analysts’ estimates. Here’s how the company did,…
NEW YORK (AP) — The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter. The car company that has faced boycotts for months said Wednesday that revenue dropped 12% and profits slumped 16% in the three…
US stock futures were mixed after Google-parent Alphabet (GOOG) and Tesla (TSLA) reported earnings. Futures attached to the tech-heavy Nasdaq 100 (NQ=F) rose 0.4%, while futures attached to the Dow Jones Industrial Average (YM=F) slipped 0.3%. Futures attached to the benchmark S&P 500 (ES=F) wavered around flatline. Google beat Wall Street’s second-quarter earnings expectations and…
Tesla CEO Elon Musk just confessed that he thinks his 13% ownership stake in the electric vehicle manufacturer leaves him vulnerable to activist shareholders who could move to oust him from the $1 trillion company. Still, he admitted he shouldn’t have so much control over Tesla that the board can’t fire him if he goes…