|Day's Range||445.00 - 445.00|
Dow futures fell as the market correction intensifies. Tesla and Apple extended big Thursday losses overnight. Beyond Meat tumbled on a surprise after-hours loss.
Silicon Valley stocks led a historic Wall Street sell-off Thursday amid fears that the COVID-19 coronavirus has begun to spread in the United States, officially pushing the U.S. stock market into correction territory.
The stock market is selling off as coronavirus fears escalate, but a leading tech ETF with a big stake in Tesla stock is finding key support.
Highflying stocks such as Tesla and Virgin Galactic are being sold off in the coronavirus-related stock market selloff. But the worst performing stocks in the market are getting hit just as hard.
Mattel Inc. has added the Tesla Inc. Cybertruck to the Hot Wheels lineup. It also has working headlights and taillights, a removable plastic body that will show a full interior, and a reusable vinyl sticker that will mimic the broken window that resulted when a Tesla employee hit the “armour glass” with a steel ball. Mattel (MAT) says Tesla (TSLA) sent a file with an image of the crack.
Data from LMC Automotive showed that 3,563 Tesla vehicles were registered in China in January, up from 853 vehicles a year earlier, but down from the 6,613 vehicles registered in December. Tesla registrations fluctuate significantly from month to month, LMC data showed. In October 2019, Tesla owners registered just 763 vehicles, LMC data showed.
The massive rally in shares of Tesla Motors (NASDAQ: TSLA) from $250 to as high as $968 over the last several months has not changed one bearish analyst’s mind on the stock. Gordon Johnson, founder of GLJ Research, maintained his long-held bearish view on Thursday’s PreMarket Prep, saying he has serious doubts as to whether the company can ever justify its valuation. "For Tesla to get to fundamentally where it’s valued at there has to be tremendous growth," he said.
Tesla shares are lower. Elon Musk's massive electric-vehicle operation is vulnerable to rising competition in a still maturing market, a Morgan Stanley analyst said.
Tesla (TSLA) and Panasonic's decision to cease their solar cell partnership for Gigafactory 2 comes as another setback to the already strained relationship between the two firms.
After Wednesday's rally attempt fizzled, stocks fell on a U.S. virus case of unknown origin, while a Microsoft coronavirus warning hit big techs.
(Bloomberg) -- Tesla Inc. shares fell after China registration data indicated a significant sequential slowdown in demand before the electric-car maker started feeling the brunt of any impact from the coronavirus.Registrations of new Tesla cars plunged 46% to 3,563 in January from December, according to state-backed China Automotive Information Net, which gathers industry data based on insurance purchases. Of the January registrations, 2,605 were for cars built in China.While Tesla had bucked the trend in China’s waning electric-car market in the previous two months, the January drop shows that the U.S. brand isn’t immune to challenges the broader industry is facing. China’s car market probably is headed for a third straight annual decline as the coronavirus outbreak exacerbates a slump started by an economic slowdown and trade tensions.Tesla shares dropped as much as 6.8% shortly after the start of regular trading. The stock had soared 86% this year through the close Wednesday, partly driven by optimism about the company starting to produce Model 3 sedans at a newly built plant near Shanghai.In total, deliveries of new-energy vehicles in China from carmakers to dealerships tumbled 54% last month, according to the China Association of Automobile Manufacturers, an industry body.Tesla began delivering locally built Model 3s to customers in China last month, seeking to boost volumes amid rising competition from the likes of BMW AG and Daimler AG, which are also bringing out new electric cars. The sedans assembled domestically qualify for tax exemptions and subsidies the company has missed out on in the past.The locally manufactured models helped Tesla’s January registrations increase from just 853 a year earlier.The timing of China’s Lunar New Year complicates year-over-year comparisons in the first months of 2020. The holiday fell in January this year and in February in 2019.But business has ground to a halt this month due to the coronavirus, and automakers are expected to come up well short of last year’s sales levels in February. Deliveries to dealers this month are set to slide about 75%, resulting in about a 40% drop in the first two months of 2020, according to the China Passenger Car Association.(Updates with regular trading in deck headline and fourth paragraph)To contact Bloomberg News staff for this story: Chunying Zhang in Shanghai at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Craig Trudell, Tony RobinsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Tesla, Enbridge, DuPont de Nemours, Delta Air Lines and Palo Alto Networks
Tesla Autopilot is often misused, and recent report by a government agency on a fatal crash involving the feature may lack real enforcement power, but the implications for Tesla Inc. could be far reaching, analysts at Evercore ISI said in a note Wednesday.
Shares of Tesla Inc. dropped 6.1% in premarket trading Thursday, which puts them on track to open in bear-market territory. The stock, which has tumbled 13.6% over the past three sessions, as the global coronavirus outbreak has stoked fears of an economic slowdown and triggered a stock market selloff. Since the stock closed at a record $917.42 on Feb. 19, the stock has lost 15.1% through Wednesday. If the stock closes at or below $733.93, it will have lost 20% from the record high, which many on Wall Street believe would officially put the stock in a bear market. The stock is headed for an open below that level. Despite the recent weakness, the stock has still more than doubled (up 135%) over the past three months through Wednesday, while the S&P 500 has slipped 1.2%.
Now that Microsoft, the world’s most valuable tech giant, has warned investors that its PC business will not meet its recent guidance because of the impact of the coronavirus on the supply chain, the rest of the PC universe will likely follow suit.
Registrations of new Tesla cars in China plunge by almost half in January from December as the Lunar New Year holiday and the coronavirus outbreak keep buyers away.
Tesla's stock is plunging after announcing weak China registrations. Yahoo FInance’s Brian Cheung joins Seana Smith on The Ticker to discuss.
Yahoo Finance’s Adam Shapiro breaks down today’s top trending news stories on On The Move.
The IBD Live Team assessed Tesla stock on Thursday as the market continued to fall amid the coronavirus sell-off. Now that IBD has officially changed our market outlook to "market in correction" from the prior "market uptrend" designation, is it time to take profits in Tesla or continue to hold it through the sell-off?