Ayn Rand wrote a book called "The virtue of selfishness". People basically act in their own interest. To feel right, they do what they feel is right. Some act in irrational was feeling it is the correct way. Some act in what many would say is a desire for moral good despite the community they are in. Wall Street investment banking simply wants to make as much money from uninformed investors as possible. Sometimes they go on CNBC to stir the pot. Biggest casino in the world.
I just watched a classic movie last night - "Mr. Smith goes to Washington". Everyone should watch that.
They put up people who take both sides - but who may not trade in a stock. They need to present both sides to help keep the market volatility higher than if there were not competition between sentiments. Greenburg will feed the desires of people wanting to short and that helps drive up the price during short squeezes. They need the market to whipsaw so those who make the markets can push it up higher and drive it down lower than if it was the good old 1980s with very low volume. It takes marketing (CNBC) to get the marks (retail investors) to drive the volatility that the big boys (IB) need to make real money.
Also, falling prices mean refiners are doing well. PSX is a holding I have and you can check the chart. Invest in what people are buying on a mass scale. Use the gains to buy your own solar PV system, EV or whatever.
Yes, you are right.
Q2 10-Q says:
"Common stock; $0.001 par value; 2,000,000,000 shares authorized as of June 30, 2014 and December 31, 2013, respectively; 124,588,213 and 123,090,990 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively"
They can issue more shares but who is buying them at this level? Now, could they be buying a Lithium Mine company, a battery label sticker company, another small supplier or whatever - they could issue shares to do so. SCTY issued shares to buy their solar cell company so they can now start to build their solar cell plant in Buffalo, NY.
Wow - so could this mean they expect 10-15 share dilution in Q3? Amazing that IB is still pushing up the pps. I'm sure that announcing the financial action in the next six weeks will be done with enough fanfare as to not signal much selling. But once it hits 140M shares at 260, you have $36.4 Billion in market cap. That is a valuation of more than $1,040,000 per car sold this year if they actually do sell 35,000. Vaulted heights!
That's the problem. We are "taught" by news and our tv shows that people are psychos. In fact, most people are kind and generous people. The fear instilled in us is meant for us to consume more. Individual cars, insurance, defense products, hunkering down, "I got mine jack" type of attitudes abound. If we lived like Europe, we would definitely find more join in car-pooling, meeting new people and sharing lives. But this is America - home of the "Army of one" and individualism.
Anyone see the delta changes in Q2 13-F statements? Fidelity also dropped a sizeable portion. MS and GS seemed to pump into the end of Q2. Let's see how they look after Q3. I doubt BNP is buying at these levels and that means lower volume drift through August into Sept waiting for reality to be seen behind the guidance.
As demand for a product falls, the price should fall. Economic balance between gasoline demand and those converting to EVs, EREVs and 40+ mpg cars, and driving less due to the overall economic conditions or job-loss, should keep gasoline prices nearly flat for some time.
One thing Americans would do more of if gas was really a problem. They would car-pool. But they don't. The hardship of gasoline prices is hardly an issue, even for lower-income people (ie. lower middle-class). Who car-pools? Migrant workers who are here from Mexico. They car-pool because some are paid in cash and send money home to family. But even minimum wage Americans wouldn't be caught "dead" carpooling with someone else. Oh, such an inconvenience in the "it is all about me" world we live in. How many parents drive their children to school rather than have them take the bus that already serves them? Possibly as many as 1 million car trips per school day occur in the USA due to this. We have a neighbor who drove his daughter to school from K to 12 daily - 16 miles each way. My kids went to the same school and took the bus. They did it because she didn't like getting up early in the morning. That is the mindset.
The Chevy Volt's Voltec drivetrain had to include a 150,000 mile 10 year warranty to be sold in CA to get the green sticker. Unlimited miles is better but somewhat unrealistic for most people. But maybe it will spawn more purchases for Uber and Lyft drivers who drive all day.
Are they going to re-state or just make up for it in Q3 with a true-up of the reserves for the quantity of cars sold (excluding those known to have been crashed/totaled)?
They are not tied to react immediately but our gas prices here have gone down .20/gallon. Local and state taxation changes may be part of it or you just are in a wealthy area. Around here, the wealthier the clients, the more the price. If you live in south-western CT, like Fairfield or similar, you are paying "NYC suburbs" rates. Interestingly, if you went over the border to NJ, prices are .40 or more cents less.
But - why do you care? You drive a Tesla, right? And someone with the $Millions you say you have actually wouldn't care what the price is at all. You'd be filling up your yacht with hundreds of gallons just to go out and get some sun on the bay.
3.29/regular in my state. Looking at gasbuddy GB_Price_List national list you can see half the states under 3.50.
Inerestingly, Hawaii is 4.291 and Alaska 4.050. You must be quoting some local California prices. California is strapped by state regulations by which only a certain gasoline blend is allowed in the state and usually is produced in-state from local refineries and is highly affected b an small issue at any active refinery. A fire at one refinery can bump up prices in CA, and only CA, by 10 to 20 cents.
I will say that base load plants are running at lower utilization at night and could be enhanced with more kWh draw of EVs at night during the lull in demand. If demand for refined fuels drops, then what you may want to shoot for is a lower number of refineries. The amount of pollution in Louisiana is high surrounding refineries. The coal plants out there could run more efficiently at night if they didn't need to increase the grid voltage and frequency due to lower demand. A few million EVs charging at night is practically a good thing even with coal plants running as much of the base load. In texas a lot of the windpower generation is at night.
Lets consider real numbers. A tesla operating as a taxi could drive at 45 MPH for six hours, then range charge in 1.5 hours. Round it up to 2. That is three sessions of 250 miles a day. 750 miles a day. So, easily over 200k a year is possible. But only in a taxi shift work situation. Little down time for tire swapping. This is why some guys in Norway started using Teslas for taxi service.
A few outliers will not hurt the majority.
however, there is no real 8 year data at all about range after 8 years. If used Teslas at six years are beginning to show problems of range, may impact new purchases of the 2017 Gen III and valuation of used units. What will hurt the range most is heavy use, such as daily supercharging, excessive range charging, driving it down to low miles remaining and doing a lot of launches. Unlike a Chevy Volt, a Tesla owner is part of the BMS. BMS means Battery Management System.