|Bid||304.00 x 800|
|Ask||304.84 x 1100|
|Day's Range||299.74 - 327.13|
|52 Week Range||244.59 - 387.46|
|Beta (3Y Monthly)||0.62|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 5, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||336.31|
Tesla's efforts to improve its bottom line go beyond layoffs and disappearing perks. Electrek has learned that Tesla is raising Supercharger rates around the world, with per kWh rates climbing about 33 percent in numerous markets. While it's still less expensive than gas (even the 36 cents per kWh in some California locations is modest), it's not quite the savings it represented in the past.
Tesla's 13 percent plunge on Friday was its seventh-steepest drop ever. It's the biggest decline since September, when the SEC announced that it's suing Elon Musk. Since Tesla's 2010 IPO, the stock's most significant drops have been related to executive departures and concerning financial reports.
Musk, Tesla’s charismatic chief executive officer, has pitched it as the company’s first car for the masses, with a base price of just $35,000. Thousands of those deposit holders still are standing by, and they could spell trouble for Tesla -- whether they stay patient or not. Selling too many Model 3s at that price too soon would put the company out of business, Musk tweeted last year.
While Wall Street cheered Tesla's third-quarter earnings results -- which did come in vastly ahead of consensus estimates -- investors weren't thrilled that the fourth quarter will likely come in below last quarter's mark, according to the company-wide email. While there's far worse news that Tesla could have delivered than a dip in profits -- for instance, no profits -- Wall Street was nonetheless unimpressed. Is Tesla cutting workforce to help pay for its Shanghai factory?
PALO ALTO, Calif., Jan. 18, 2019 -- Tesla will post its financial results for the fourth quarter and full year ended December 31st, 2018 after market close on Wednesday,.
tumbled Friday after the clean energy carmaker said it will cut around 7% of its workforce, adding that fourth quarter profits will likely come in lower than in the previous three-month period. The stock lost 13% to close at $302.26 after Tesla said it will post a GAAP-reported profit for the three months ending in December, but cautioned that number will be less than the $312 million it posted for the third quarter. "Tesla will need to make these cuts while increasing the Model 3 production rate and making many manufacturing engineering improvements in the coming months," CEO Elon Musk said in a company blogpost.
Tesla’s long-term growth story is running on a low battery. Earlier this month, Tesla cut prices on its vehicles to compensate for a reduction in U.S. tax incentives for buyers, another sign of slowing growth. One problem the company faces is that the market for luxury cars is limited.
Tesla Inc. plans to eliminate 7% of its full-time workforce, the auto maker’s second round of job cuts in a year as it tries to maintain profitability while lowering the price of its Model 3 sedan. Chief Executive Elon Musk, in a memo early Friday reviewed by The Wall Street Journal, told employees preliminary results show Tesla made a profit in the final three months, albeit a smaller one than in the third quarter. This quarter, Tesla hopefully can achieve “a tiny profit,” he said, but it will entail “great difficulty, effort and some luck.” The memo was later posted to Tesla’s website.
Should investors worry about Telsa? Yahoo Finance's Zack Guzman & Jeanie Ahn, Digiday Reporter Kerry Flynn and Gerber Kawaski Wealth & Investment Management CEO Ross Gerber discuss. Jeanie Ahn, Digiday Reporter Kerry Flynn and discuss.
FoxNews.com automotive editor Gary Gastelu discusses how Tesla shares fell after the company announced that they would cut 7 percent of its workforce in order to reduce the price of the Model 3.