Tesla surpasses $1 trillion market cap

guest · Jul 21, 2022

Tesla earnings show quarterly decline in profits, year-over-year growth
July 20, 2022

Tesla’s second-quarter earnings report tells a story of quarterly declines caused by production challenges and year-over-year growth.

The company reported Wednesday a quarterly decline in revenue and earnings as supply chain constraints, inflation and an extended shutdown in China chipped away at its bottom line. The company’s share price increased rose as much as 4% and then settled up about 1.45% in after market trading.
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Tesla generated $16.9 billion in revenue in the second-quarter, down from $18.8 billion in the first quarter. The second-quarter revenue numbers were also lower than the $17.7 billion it brought in the fourth-quarter of 2021.

Tesla said it earned $2.3 billion, or $1.95 a share, in the second quarter, which was also down from the $3.3 billion it earned in the first quarter.
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The company’s bottom line was pulled into two different directions: it was aided by selling its EVs at a higher price and selling regulatory credits worth $344 million while it saw inflation and other costs cut into its automotive margins. Tesla’s automotive margins shrank to 27.9%, down from the previous quarter of 32.9% as well as the 28.4% it reported in the fourth quarter.

Musk repeatedly talked about how production, not demand, was the primary inhibitor to the company’s growth.

“Right now our problem is very much production,” Musk said during the call. “So, we have long leads on — as anyone can tell if they order a car — if you order a Model Y it will arrive sometime next year. So this is clearly not an issue for many months (referring to demand). For us, our problem is overwhelmingly that of production.”
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Tesla also revealed it has sold 75% of its Bitcoin holdings this quarter. The company appears to have lost around $150 million on its bet in the cryptocurrency since its 2021 purchase, selling the coins for $963 million. Tesla said the value of its remaining “digital assets” is $218 million.
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guest · Jul 21, 2022

Tesla sold off $936 million worth of Bitcoin in the second quarter
July 20, 2022

Tesla has released its second quarter financials (PDF) today, and it shows that the firm sold $936 million worth of Bitcoin during the period – that is the months April, May, and June. Had the firm sold these before April 26, it could have sold each coin at above $40,000, but if it had waited until mid-June a bitcoin would have fetched just $17,500.

Either way, the company now has just 25% of the Bitcoin that it had before, and the money that it has got in return is being held in fiat currency such as dollars. Since mid-June, the price of Bitcoin has climbed from $17,500 and sits at $23,294 at the time of writing, earlier in the day it has climbed above $24,000 for the first time since June 13.
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Rasheed187 · Jul 30, 2022

mood said: ↑

Tesla sold off $936 million worth of Bitcoin in the second quarter
July 20, 2022
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LOL, hate to say ''I told you so'', bitcoin is crap! I'm glad that Musk came to his senses, and since then Tesla has rallied on Wall Street, it's getting a bit out of hand if you ask me.

hawki · Aug 31, 2022

xxJackxx said: ↑

I don't know if I've said it out loud before, but what would be really awesome is if someone could figure out how to separate the hydrogen and oxygen from water and use both of them as fuel. They're both flammable and explosive but if someone gets that far they'll figure that out too.
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"Clean Fuel Breakthrough Turns Water Into Hydrogen at Room Temperature...

Scientists have described a relatively simple method involving aluminum nanoparticles that are able to strip the oxygen from water molecules and leave hydrogen gas.

The process yields large amounts of hydrogen, and it all works at room temperature.

That removes one of the big barriers to hydrogen fuel production: the large amounts of power required to produce it using existing methods..."

https://www.sciencealert.com/clean-fuel-breakthrough-turns-water-into-hydrogen-at-room-temperature

xxJackxx · Aug 31, 2022

hawki said: ↑

"Clean Fuel Breakthrough Turns Water Into Hydrogen at Room Temperature...

Scientists have described a relatively simple method involving aluminum nanoparticles that are able to strip the oxygen from water molecules and leave hydrogen gas.

The process yields large amounts of hydrogen, and it all works at room temperature.

That removes one of the big barriers to hydrogen fuel production: the large amounts of power required to produce it using existing methods..."

https://www.sciencealert.com/clean-fuel-breakthrough-turns-water-into-hydrogen-at-room-temperature
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I like it.

Rasheed187 · Sep 2, 2022

xxJackxx said: ↑

I like it.
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And now BMW has also introduced a new concept hydrogen car, so I'm starting to wonder if Tesla perhaps is wrong for not focusing on this.

https://discover.bmw.co.uk/article/step-inside-the-new-bmw-ix5-hydrogen

mood said: ↑

Tesla surpasses $1 trillion market cap
October 25, 2021
https://techcrunch.com/2021/10/25/tesla-1-trillion-market-cap/
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BTW, since the latest 3 for 1 stocksplit, Tesla has been hammered on Wall Street, I'm guessing Elon Musk is still sharing shares, I wouldn't be surprised. It's now around $280, but in reality the stockprice is at $3360, which still makes it overpriced.

Rasheed187 · Dec 24, 2022

Holy crap, this Elon Musk guy is delusional. Now he's blaming the Fed for Tesla's battered stockprice, but we all know he caused it himself by selling over $35 billion of Tesla shares in 2021 and 2022 to finance his Twitter purchase. But he did claim he will stop selling shares for the next 2 years, yeah right.

Elon Musk tries to explain why Tesla shares are tanking

As Tesla shares sank 8% on Tuesday, reaching a new 52-week low, CEO Elon Musk tried to blame macroeconomic factors. Critics point to his acquisition of Twitter as a distraction, and Tesla stock has underperformed versus other automakers and the S&P 500 since he announced the deal in April.
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https://www.cnbc.com/2022/12/20/elon-musk-tries-to-explain-why-tesla-shares-are-tanking.html

Daveski17 · Dec 24, 2022

Rasheed187 said: ↑

Holy crap, this Elon Musk guy is delusional.
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Truer words were never spoken.

guest · Dec 25, 2022

Tesla (TSLA) to implement hiring freeze and new round of layoffs
By Fred Lambert @FredericLambert - December 21, 2022

Tesla (TSLA) has told employees that it is implementing a hiring freeze and confirmed that another wave of layoffs is coming next quarter, according to a source familiar with the matter.
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In June, Elon Musk asked Tesla executives to “pause all hiring” and cut 10% of staff.

The CEO has given different reasons to different people for the layoffs, including that he has a “very bad feeling” about the economy.
The “hiring pause” was more worrisome as Tesla has several programs growing fast, and it needs to hire thousands of people at new factories in the US and Germany.
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However, Tesla quickly reversed the hiring pause and started growing its hiring again during the second half of the year.

Now Electrek has learned that Tesla is implementing a new hiring freeze and plans further layoffs, according to a reliable source familiar with the matter.
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The moves come as Tesla’s stock has been falling all year despite the company’s financials hitting new records virtually every quarter.
That’s partly due to a broader market downturn in 2022, but Tesla’s stock has not been tracking with the rest of the market over the last few months.

The timing of the more recent drops matches Musk’s acquisition of Twitter and his selling of Tesla shares to finance the social media platform.
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guest · Jan 2, 2023

Tesla falls short of its goal of growing 50 percent in 2022
By Andrew J. Hawkins @andyjayhawk - January 2, 2023

Tesla delivered just over 1.3 million vehicles in 2022, missing its goal of achieving 50 percent growth year-over-year. The company needed to hit approximately 1.4 million deliveries to meet its target, indicating that transportation and logistics challenges continue to plague the EV company
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Analysts were hoping for a robust 1.8 million vehicles delivered for the year, but Tesla needed to deliver just 1.4 million in 2022 in order to meet its goal of 50 percent growth for the year. And despite just missing that goal, it was another record quarter of deliveries for the EV maker, which has been dealing with a number of challenges this year, many of which have nothing to do with Elon Musk buying Twitter.

“We continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit at the end of the quarter,” the company said in a statement.
“Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2022 in light of significant COVID and supply chain related challenges throughout the year.”
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Musk’s purchase of Twitter led to a subsequent sharp decline in Tesla’s stock price, which plunged by as much as 65 percent over the course of the year. The rout shaved billions from Musk’s own net worth, leading him to claim the unfortunate designation as the first person to lose $200 billion, according to Bloomberg.
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Rasheed187 · Jan 4, 2023

mood said: ↑

Tesla falls short of its goal of growing 50 percent in 2022
By Andrew J. Hawkins @andyjayhawk - January 2, 2023
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Seriously, it's so ridiculous. Why are people on Wall Street such drama queens? So Tesla sold a mere 15.000 less cars than expected, and Tesla's stock dropped with almost 20 bucks, so now I have a loss of €5000. But I have to admit, in the past I have often underestimated Elon Musk and this guy so far has always managed to turn things around. So for now I won't take my loss, I will wait for a recovery.

guest · Jan 26, 2023

Tesla made an annual profit of $12.6 billion in 2022
By Jonathan M. Gitlin @drgitlin - January 25, 2023

Tesla published its financial results for the fourth quarter of 2022 on Wednesday afternoon. The company brought in $24.3 billion in revenue, a 37 percent increase on Q4 2021. Automotive revenues accounted for the lion's share—$21.3 billion, a 33 percent increase from Q4 2021. That translated to $3.7 billion in net profit once generally accepted accounting practices (GAAP) were applied—an impressive 59 percent increase from Q4 2021.
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That means Tesla had an excellent 2022, despite missing its sales forecast. Automotive revenues grew by 51 percent compared to 2021, bringing in $71.5 billion. Total revenues were up by the same percentage year-over-year at $81.4 billion. Operating expenses accounted for $7.2 billion, and once GAAP was applied, Tesla ended the year with a net profit of $12.6 billion. Free cash flow dropped by 49 percent to $1.4 billion.

In its outlook statement, Tesla remains optimistic and reiterates its goal of 50 percent annual growth, albeit with a caveat that "some years we may grow faster and some we may grow slower." For 2023 it says it will deliver 1.8 million cars. Tesla also claims that it's in the tooling stage for its Cybertruck pickup, which will go into production in Texas later this year.
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Rasheed187 · Jan 28, 2023

mood said: ↑

Tesla made an annual profit of $12.6 billion in 2022
By Jonathan M. Gitlin @drgitlin - January 25, 2023
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Well, I guess I was right. Since my last post, almost a month ago, Tesla's stock went from $105 to $170, so I went from a loss of €5000 to a profit of €1500, now let's hope I didn't sell too soon LOL. But now that I think of it, this rise was most likely caused by what is known as a short squeeze. Which means that investors who have loaned stocks from others are now returning those shares to banks and brokers, which automatically causes stocks to rise quite quickly.

https://www.investopedia.com/terms/s/shortsqueeze.asp

Rasheed187 · Feb 5, 2023

xxJackxx said: ↑

That was talked about in the 70s. Nobody has been able to pull it off in a practical way. Solar panels are a great idea but don't output enough power for an application such as a car. That site looks interesting but "I'll believe it when I see it"... and I would love to see it.
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BTW, a small update, but the Lightyear company is in big trouble. Turns out that you need quite a lot of money to be able to produce such solar cars. They are now looking for someone to invest billions in the Lightyear 2, which should be a more affordable car. Of course, companies like Rivian and Lucid Motors are in trouble too but at least they still got some cash on the bank.

https://www.autoblog.com/2023/02/02/lightyear-solar-car-bankruptcy-lightyear-2/

Rasheed187 · Apr 22, 2023

I have to say that the new electric Volkswagen cars look very good, Tesla just might be in trouble. No wonder they keep cutting prices.

VW aims to dethrone the Tesla Model 3 with its long-ranging ID.7 electric sedan

The ID.7 is a big, beefy sedan that comes in two battery sizes with a best-in-class range estimate. But can Volkswagen make sedans cool again?
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https://www.theverge.com/2023/4/17/23685327/vw-id-7-ev-sedan-photos-specs-range

reasonablePrivacy · Oct 20, 2024

Tesla FSD crashes in fog, sun glare—Feds open new safety investigation
Four crashes and one death could lead to a costly recall or FSD being banned.
https://arstechnica.com/cars/2024/10/feds-open-their-14th-tesla-safety-investigation-this-time-for-fsd/

NHTSA says it now has four reports of Teslas using FSD and then crashing after the camera-only system encountered fog, sun glare, or airborne dust.
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Unlike almost every other system deployed on the road, Tesla chooses to rely on cameras alone and does not have a stereoscopic setup but instead has a wide-angle, main, and narrow-angle forward-looking sensor instead.
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What is weird for me that it took ages for Feds to open investigation. It was widely known about accidents and near-misses about year and a half ago:
https://www.wilderssecurity.com/thr...-videos-from-owners-cars.451081/#post-3141207

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