|Bid||411.68 x 1400|
|Ask||411.91 x 1800|
|Day's Range||406.47 - 418.06|
|52 Week Range||61.85 - 502.49|
|Beta (5Y Monthly)||1.69|
|PE Ratio (TTM)||789.04|
|Earnings Date||Jan 27, 2021 - Feb 01, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||344.62|
The Dow Jones Industrial Average reversed higher amid strong U.S. GDP early Thursday. Apple earnings are due after the close. Pinterest skyrocketed 39% on earnings.
During its battery day, Tesla Inc (NASDAQ: TSLA) announced a new style of battery cell. The new 4680 cells would allow Tesla to produce cells that were more energy-dense, safer and ultimately reduce costs up to 56%.Now, Panasonic Corporation (OTC: PCRFY) has revealed it will be working to make a new battery cell based on Tesla's revealed prototype."We have considerable know-how for that battery," said Panasonic CFO Hirokazu Umeda. "We started working on it immediately after Tesla's Battery Day and are also preparing to set up a prototype production line in parallel."Umeda added Panasonic will launch additional production capacity at Gigafacotry Nevada next year.Benzinga's Take: It seems Panasonic doesn't want to be left behind once Tesla starts producing its own cells. As of now, Tesla heavily relies on its partnership with Panasonic, but as EV sales grow, Panasonic's share of battery production will be less and less meaningful if they're not producing the cells Tesla wants. Tesla will be cell constrained for the foreseeable future, and the company will most likely buy all the batteries it can going forward.Photo courtesy of Tesla.See more from Benzinga * Click here for options trades from Benzinga * New EPA Data Shows Tesla Excels In Electric Vehicle Efficiency * Tesla's Gigafactory Berlin Will Have 600 Charge-Ready Parking Spots(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Nio announced a key production milestone as Morgan Stanley turned more bullish on the electric-car maker.