Stock in Tesla and other auto makers took a hit on Monday following a disappointing forecast from automotive chip maker ON Semiconductor. The company reported third-quarter sales of $2.18 billion, slightly surpassing analysts' expectations of $2.15 billion. However, ON Semiconductor's management projected fourth-quarter sales of approximately $2 billion, falling short of Wall … [Read more...] about Auto Stocks Drop as ON Semiconductor Disappoints
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Rivian’s Quarterly Earnings Update
Rivian Automotive Inc. is scheduled to announce its quarterly earnings on Tuesday after the bell. This update comes after the company's controversial decision to offer $1.5 billion worth of convertible debt, which received backlash from investors. Additionally, Rivian will soon face competition from Tesla Inc., which plans to release its electric pickup truck, the Cybertruck, … [Read more...] about Rivian’s Quarterly Earnings Update
Tesla Reduces Prices of Model 3 and Model Y Vehicles
Tesla, the renowned electric-vehicle company, has recently announced a price reduction for its Model 3 and Model Y vehicles in the United States. This move comes as part of Tesla's ongoing efforts to increase affordability and accessibility in the electric vehicle market. Model 3 Pricing Updates According to the company's official website, Tesla has reduced the price of its … [Read more...] about Tesla Reduces Prices of Model 3 and Model Y Vehicles
Tesla Inc. Shares Fall Below Key Chart Level
Shares of Tesla Inc. (TSLA) dropped 3.2% in morning trading on Friday, slipping below a significant chart level that suggests the start of a longer-term downtrend. The stock has experienced a 16.4% decline over a three-day losing streak, following the disappointing earnings report of the electric vehicle manufacturer. This current performance is set to become Tesla's worst … [Read more...] about Tesla Inc. Shares Fall Below Key Chart Level
Tesla’s Price Cuts to Continue in 2024, Says Goldman Sachs
Goldman Sachs analysts have predicted that Tesla's ongoing series of price cuts for its electric vehicles (EVs) will put further pressure on the company's margins in the coming year, according to a research note by Goldman's Mark Delaney. While the price reductions for Tesla's Model S and Model X cars will impact earnings this year, there will only be a partial offset from … [Read more...] about Tesla’s Price Cuts to Continue in 2024, Says Goldman Sachs
