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Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 billion over a week. It equals the combined values of Toyota Motor Corp. (TYO), General Motors Co. (GM), Ford Motor Co. (F.N) and Fiat Chrysler Automobiles NV (FCA).
Tesla would release its quarterly report on July 22 while analysts were confident that the company would show a profit.
“What’s the fundamental value? If you have a million-mile battery, what does that add to the stock? It comes down to scarcity. How do you play the EV market? It all comes down to the P-word: Profitability,” Wedbush’s Managing Director of Equity Research Dan Ives said.
On Thursday, CEO Elon Musk said in a video message to the World Artificial Intelligence Conference (WAIC) in Shanghai that the electric car company would have fully autonomous self-driving vehicles by the end of the year.
Tesla’s shares rose by 1.3% in an all-time intraday high.
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
Intel Corp. (INTC.O) announced on Monday that Chief Engineering Officer Murthy Renduchintala would leave the company on August 3. The semiconductor manufacturing company said that it would reorganize its technology, systems architecture, and ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were ...
SensorTower announced on Wednesday that Apple (AAPL) removed more than 2,500 games from the China App Store in the first week of July. The move came after the U.S. tech giant closed a loophole to comply with China’s license requirements. Apple ...
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