Latest news with #TeslaInvestors
Bloomberg
5 days ago
- Automotive
- Bloomberg
Tesla's Mystery Tour Rolls Past More Weak Earnings
The secret to getting a trillion-dollar valuation on a struggling car company is to convince everyone that you are not in fact a car company. Tesla Inc. led with that in its latest results announcement, declaring the last quarter — a dreadful affair in financial terms — a 'seminal point' in its history. The second quarter apparently kicked off Tesla's transition from leading in electric vehicles and renewable energy to the new vistas of artificial intelligence and robotics. We've got the first bit of the transition alright, where the old stuff fades. But we are yet to see the other, more exciting bit show up in force. Tesla's remarkably patient investors, treated to another earnings call that mostly elided discussion of the stuff the company actually sells in favor of stuff it either barely sells or doesn't at all, now exist almost entirely on a diet of wild promises.
Yahoo
20-07-2025
- Business
- Yahoo
Elon Musk Is ‘Sleeping in the Office.' Why Tesla Investors Should Care.
Musk is back working hard at Tesla. Now investors want to hear his plans to get earnings growing again. Solve the daily Crossword
Yahoo
17-07-2025
- Automotive
- Yahoo
Elon Musk Was the First Person To Have a Net Worth of $400 Billion: What Could It Mean for Tesla Stock?
Elon Musk's business ventures have turned him into the wealthiest person on the planet. He was also the first person to reach a net worth of $400 billion, though his net worth has since fallen to about $342 billion, per the Forbes Billionaires List. Although Musk has many companies, none of them have impacted his wealth more than Tesla. The electric vehicle (EV) maker is tapping into autonomous vehicles and artificial intelligence (AI) to achieve long-term revenue growth, and these catalysts are part of the reason Tesla is worth approximately $1 trillion. Read Next: Find Out: Read on for more details about how Musk and his wealth could affect Tesla stock going forward. Musk Is Heavily Invested in Tesla Although Musk has many ventures, Tesla is the most significant portion of his wealth. This bodes well for Tesla investors since Musk has to maintain Tesla's value to maintain his wealth and fund other ventures. If Tesla crashed, Musk's fortune would take a big dip, and that could hinder his ability to start additional ventures and fund his existing ones. Even though it may look like Musk isn't fully focused on Tesla from time to time, especially with his recent entrance into politics, it is a vital piece of his wealth. Musk, like any billionaire, likely strives to increase his wealth to the best of his ability, and most people share that goal. Other ventures could serve him well, but Tesla is the foundation. Cybercabs and Optimus represent two of Tesla's moonshot opportunities. Musk made EVs popular, and with his leadership, he could also make cybercabs and humanoid robots mainstream. That could make for plenty of happy shareholders. Check Out: Musk Still Has Other Companies Musk still has a bunch of other companies, such as SpaceX, xAI, X, Neuralink and The Boring Company, that contribute to his wealth as well. Each of these companies will grab some of Musk's attention, and he may turn to smaller ventures for outsize gains. For instance, it's likely easier to turn a $10 billion company into a $100 billion company than it is to turn Tesla from a $1 trillion company to a $10 trillion company. Some investors have praised Musk's ability to generate meaningful growth for Tesla while focusing on other ventures. However, other investors may wish that he exclusively focused on Tesla. Musk's ventures, however, could also be great news for Tesla, as they could possibly give him more assets that he could use to drive more innovation and demand for Tesla, potentially resulting in a higher stock price. Musk Remains the Pulse of Tesla Stock Few stocks can command valuations as high as Tesla's, but few companies have leaders like Musk. The tech billionaire remains the linchpin that decides Tesla's fate. His entrance into politics, for example, caused the stock a lot of volatility this year. It's down over 15% for the year as of July 17. Some investors still remain bullish on Tesla, while others are more cautious after its significant drop this year. Although short-term noise can drive plenty of price movement, many investors remain committed due to Musk's leadership and the company's exciting opportunities. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on Elon Musk Was the First Person To Have a Net Worth of $400 Billion: What Could It Mean for Tesla Stock? Sign in to access your portfolio
CBS News
20-06-2025
- Automotive
- CBS News
Tesla's robotaxi service is set to debut in Austin, Texas, on Sunday. Here's what to know.
After years of teasing a new line of self-driving vehicles, billionaire tech CEO Elon Musk is finally making good on his promise with the rollout of Tesla's robotaxi service. When is the robotaxi event? This Sunday, June 22, Tesla will give a select group of people the chance to ride in its Model Y Robotaxis in Austin, Texas, where the EV maker moved its headquarters from California in 2021. Tesla did not respond to CBS MoneyWatch's email seeking information about the launch. However, details shared on social media and past comments from Musk offer some clues as to what it will look like. Where will the robotaxi event take place? The pilot will likely involve a small number of cars and rides will take place in a "geofenced area" in Austin. In a CNBC interview in May, Musk suggested there could be around 10 robotaxis in circulation during the pilot in Austin, and said Tesla would scale up the number from there. According to a note from Wedbush Securities tech analyst Dan Ives, there could be up to 20 Model Y cars circling around Austin on Sunday. It's unclear how many people were invited to participate in the pilot, although it appears "Early Access" invites went primarily to Tesla investors and enthusiasts. In a copy of the invitation shared on social media, it says these riders will be "among the first to use our new Robotaxi App" and that they will be able to provide "valuable feedback." Those invited to Austin's pilot can hail the self-driving cars via the Robotaxi App and go anywhere except the airport from 6 a.m. to midnight on Sunday, the invitation says. What has Elon Musk said about robotaxis? Musk previewed the launch in January during an earnings call, saying the cars will be "in the wild with no one in them, in June in Austin." A video posted by the company that same month offers a glimpse of the interiors and exteriors of Tesla's autonomous vehicles. The robotaxi event comes just weeks after Musk stepped back from the Department of Government Efficiency, the Trump administration's cost-cutting effort. With Tesla's sales tumbling amid widespread protests against his government work, some Tesla investors had asked him to refocus on the EV carmaker. In an X post from earlier this month, Musk teased the June 22 launch date and said the first driverless trip "from factory end of line all the way to a customer house" is set to take place on June 28. From there, he has said he expects services to scale rapidly. It's likely that the Tesla robotaxi could be rolled out in 25 U.S. cities over the next year, according to Ives. Are there safety concerns about robotaxis? Autonomous vehicles have drawn scrutiny from the government officials and independent groups like the Dawn Project, a computer safety advocacy company, which argues that Tesla's self-driving technology puts children in harm's way. Tesla is also under the microscope of the National Highway Traffic Safety Administration, which launched an investigation in October after four vehicles with Tesla's "Full Self-Driving" system were involved in crashes. In May, the agency's investigatory arm shifted its focus to the impending pilot program in Austin, saying in a letter that it wants information from Tesla on how it plans to evaluate its fleet of robotaxis for use on public roads. These concerns seems to have caught the attention of Musk, who earlier this month wrote, "We are being super paranoid about safety" in a social media post discussing the rollout. On Wednesday, Democratic lawmakers from Texas signed a letter asking Tesla to delay its launch until September 1, when a new law regulating the safety of autonomous vehicles takes effect. Under the laws new framework, commercial vehicles would be required to get authorization for the Department of Motor Vehicles "before operating on public streets without a human driver." It's unlikely that will hobble this weekend's launch, which appears to be moving ahead, albeit with certain safety provisions built in. According to the invite shared on social media, the robotaxis in Austin pilot will have a "Tesla Safety Monitor" in the front right passenger seat. Remote monitors will also be keeping track of the rides, according to CNBC. How important are robotaxis for Tesla? The rollout of the robotaxi service, if successful, could help boost the company's fortunes after it faced intense backlash over Musk's involvement in the Trump administration's DOGE, noted Wedbush's Ives. Tesla's first-quarter results fell short of expectations, with its profit tumbling 71% and its sales sliding 9% during the three-month period. While its stock has regained some lost ground since Musk said he would return his focus to Tesla, it's still 33% below its December peak of about $480 per share. The robotaxi rollout could help Tesla reach a $2 trillion market cap by the end of 2026, or double its current valuation, according to Ives. "The golden era of autonomous for Tesla officially kicks off on Sunday in Austin," Ives wrote in a research report. "We view this autonomous chapter as one of the most important for Musk and Tesla." In ramping up robotaxi service, Tesla is hoping to slingshot past Waymo, another autonomous car service that operates in Phoenix, San Francisco, Los Angeles and Austin, according to its website. Last week, Waymo applied for a permit to test its vehicles in New York City. "I don't really think about competitors. I just think about making the product as perfect as possible," Musk has said of his robotaxi venture. Either way, Tesla will have some catching up to do. Waymo currently gets 250,000 paid trips each week for its driverless taxis service. contributed to this report.
RNZ News
10-06-2025
- Automotive
- RNZ News
Concerned about your Tesla shares? You're not alone
US President Donald Trump (L) and Elon Musk. Photo: Alex Wroblewski and Allison ROBBERT / AFP Tesla investors are feeling the impact of the fallout of US President Donald Trump's dispute with former BFF Elon Musk. Last week, a public feud erupted between Trump and Tesla chief executive Musk. Trump confirmed their relationship has soured, and Musk repeatedly blasted the president's sweeping domestic agenda bill in recent days. A public fight on social media on Thursday involved Musk claiming Trump would not have won without his support. That same day, Tesla shares (TSLA) plummeted 14 percent . The selloff erased about US$152 billion (NZ$252 billion) from Tesla's market value and US$34 billion (NZ$56.4 billion) off Musk's net worth, according to the Bloomberg Billionaires Index. Investors worried that US government approval for Tesla's self-driving cars might not be so easy to achieve, and that the relationship with Trump, and then the split, could have turned off first Democrat and then Republican car buyers. Chief strategy officer at Tiger Brokers Greg Boland said there was an opportunity for investors who did not own Tesla shares to buy at a reduced price, if they still believed in the company's prospects. "It's been a very, very volatile stock over the last year, one of the most volatile. In the S&P 500 year to date it's still down around 23 percent, but at one stage it was down 48 percent." He said whether it recovered would depend on how the company performed. If Robotaxis were successful, it could boost the share price, but if there were problems, it could fall further. "But people who are shareholders of Tesla must be wondering, in some ways why they still hold it when the stock is so volatile, but also the CEO is so volatile." Sharesies investments lead Gus Watson said investors were riding out the Tesla volatility. "Trading in recent days has shown a slight net-selling trend by value, whilst the total number of investors month on month remains steady." Trump has also threatened the contracts the US government has with another Musk business, SpaceX. Boland said Rocket Lab stood to benefit from that. "Rocket Lab is up two-and-a-half percent today." He said the Rocket Lab share price had drifted up from as low as about US$16 in April to almost US$30. "It's nearly doubled over that time ... It's getting more and more good contracts out of the US." Devon Funds head of retail Greg Smith said the idea that dwindling fortunes for the much bigger SpaceX could boost Rocket Lab had merit. "Rocket Lab is growing at a faster rate from a lower base. "SpaceX is heavier payloads, but Rocket Lab could be a challenger here in the medium size (and to the Falcon 9) with the Neuron rocket set to launch later this year." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
