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☆ When Tesla shares rise — these 7 stocks have tended to rise too, according to recent history
▼ + stars: | 2024-04-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Seven stocks in the S & P 500 tend to rise alongside Tesla shares, according to an analysis of recent data by CNBC Pro . The share price performances of these S & P 500 stocks were highly correlated to Tesla's last month. However, unlike Tesla's more than 30% plunge this year, these stocks have either remained flat or have relatively modest negative returns. A correlation of zero would indicate no statistical link between the EV automaker's stock and the share price of the seven companies. The consensus upside potential for the stocks listed above was derived from FactSet's poll of analysts covering each stock.

Persons: Elon Musk, weathers, — CNBC's Lora Kolodny Organizations: CNBC Pro, Juniper Networks, Seagate Technology, Tyler Technologies, Regeneron Pharmaceuticals, Vertex Pharmaceuticals, IDEXX Laboratories, EV, CNBC Locations: U.S, lockstep

☆ Tesla to pay $42 million for employee crash that injured motorcyclist
▼ + stars: | 2024-03-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The Tesla Inc. logo is captured on a sign of one of its shops in Zurich on Nov. 13, 2023. Tesla and the employee, Kyle Kaszuba, must pay more than $42 million in damages to the victim, Christopher Dugan, a Marion County jury said in a Wednesday verdict. The jury found that Dugan was 30% liable for the crash, reducing the award from $60 million to $42 million. The crash occurred while Kaszuba was operating a 2014 Ford vehicle owned by Tesla either with the permission of Tesla or while working in his capacity as a Tesla employee, Dugan alleged in his initial complaint. The gas station near where the crash occurred is located just outside of a ramp to I-465, the ring road that encircles Indianapolis.

Persons: Tesla, Kyle Kaszuba, Christopher Dugan, Dugan, Kaszuba, Quinn Emanuel, Nick Rowley, — CNBC's Lora Kolodny Organizations: Tesla, Ford, Ford Super, Inc, View Locations: Zurich, An Indiana, Marion, Indianapolis

☆ Elon Musk cancels X partnership with former CNN anchor Don Lemon after interview
▼ + stars: | 2024-03-13 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +3 min

Former CNN anchor Don Lemon announced Wednesday that X owner Elon Musk has canceled a partnership in which Lemon would host a new show on the social network. Lemon said he was informed of the decision to cancel the deal just hours after he taped an interview with Musk for the premiere of The Don Lemon Show on March 18. Musk claimed in a post on X Wednesday that "instead of it being the real Don Lemon, it was really just Jeff Zucker talking through Don, so lacked authenticity. The interview with Musk will be posted on YouTube, podcast platforms and will still be published on X, Lemon said. It remains unclear what, if any, contract had been arranged and what the terms of any partnership were between X and The Don Lemon Show.

Persons: Don Lemon, Elon Musk, Lemon, Musk, Jeff Zucker, Don, Zucker, Donald Trump, X, Tulsi Gabbard, Jim Rome, Alex Spiro, CNBC's Lora Kolodny Organizations: CNN, SpaceX, Twitter, YouTube, U.S . Rep, CNBC

“We believe the claims in this suit may stem from Elon’s regrets about not being involved with the company today,” wrote OpenAI Chief Strategy Officer Jason Kwon in an internal memo on Friday that was viewed by CNBC. The next year, Musk gave nearly $20 million to OpenAI, which the attorneys reiterated was more than other backers. "We did not think either approach was right for the mission," Kwon wrote. Regarding OpenAI's transformation from an "open source foundation" to a multibillion-dollar for-profit company, Musk said, "I don't know, is this legal?" — CNBC's Lora Kolodny and Hayden Field contributed to this reportWATCH: Elon Musk lawsuit against OpenAI and Altman began a year ago

Persons: Elon Musk, Tesla, ”, Jason Kwon, Sam Altman, OpenAI, Altman, Musk, Greg Brockman, Kwon, they've, Andrej Karpathy, Karpathy, didn't, — CNBC's Lora Kolodny, Hayden Field, Elon Organizations: CNBC, Elon, Microsoft, Tesla, The New York Times, OpenAI Locations: OpenAI

☆ Reed Hastings sells $1.1 billion in Netflix shares
▼ + stars: | 2024-01-29 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Netflix co-founder and executive chairman Reed Hastings has gifted two million shares of his holdings in the streaming giant, according to a regulatory filing, with a current value of more than $1.1 billion. "We don't know what it could be, whether it's a charity or multiple charities," VerityData Vice President Ben Silverman told CNBC. Hastings retains just under three million Netflix shares with a value of around $1.7 billion. Though Hastings remains the executive chairman of Netflix, the company has no obligation to disclose the reason behind the gift or the beneficiary. Netflix shares are up nearly 23% year to date but are still around 16% below their 2021 high.

Persons: Reed Hastings, Hastings, it's, Ben Silverman, VerityData's Silverman, — CNBC's Lora Kolodny Organizations: Netflix, New York Times DealBook, Jazz, Lincoln Center, Bloomberg, CNBC, United Negro College Fund, Hastings, CNBC PRO Locations: New York City

☆ New details emerge about SEC's X account hack, including SIM swap
▼ + stars: | 2024-01-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

The U.S. Securities and Exchange Commission said on Monday that a SIM swap attack was to blame for the breach of its official account on X (formerly Twitter) earlier this month. With access to the phone number, the unidentified individual then reset the account password. "While multi-factor authentication (MFA) had previously been enabled on the @SECGov X account, it was disabled by X Support, at the staff's request, in July 2023 due to issues accessing the account," the SEC said in the statement. The agency had the ability to switch two-factor authentication back on for their X account and were not reliant on X to do so. X owner and CTO Elon Musk mocked the SEC, an agency he has clashed with for years, after the agency's account on X was breached.

Persons: Elon Musk, Department of Homeland Security's, — CNBC's Lora Kolodny Organizations: U.S . Securities, Exchange, SIM, SEC, X, Twitter, SEC's, Federal Bureau of Investigation, Department of Homeland, Infrastructure Security Agency, Futures Trading Commission, Department of Justice, Enforcement

☆ Elon Musk's AI startup — X.AI — files to raise $1 billion in fresh capital
▼ + stars: | 2023-12-05 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. X.AI, an artificial intelligence startup founded by Elon Musk, has filed with the SEC to raise up to $1 billion in an equity offering. The AI startup, which Musk announced in July, seeks to "understand the true nature of the universe," according to its website. Last month, X.AI released a chatbot called Grok, which the company says is modeled after "The Hitchhiker's Guide to the Galaxy." — CNBC's Lora Kolodny contributed to this reportWATCH: Elon Musk's X.AI launches 'Grok'

Persons: Elon Musk, Musk, X.AI, didn't, OpenAI, Sam Altman, Google's Bard, Claude chatbot, Tesla, They've, DeepMind's AlphaCode, OpenAI's, — CNBC's Lora Kolodny, Elon Musk's X.AI Organizations: New York Times, Jazz, Lincoln Center, Elon, SEC, Google's, Nvidia, SpaceX, Boring Company, X Corp, DeepMind, Google Research, Microsoft Research, Twitter, Tesla, X.AI Locations: New York City, Nevada

☆ Tesla sues Swedish government after postal workers block license plate deliveries
▼ + stars: | 2023-11-27 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Tesla filed a lawsuit against the Swedish Transport Agency on Monday after postal workers began to block deliveries of license plates for the company's cars. Swedish postal workers blocked Tesla license plate deliveries as a show of solidarity with striking workers. Tesla claims the Swedish government has a "constitutional obligation to provide registration plates to vehicle owners," according to the documents. "This seizure of license plates constitutes a discriminatory attack without any support in law directed at Tesla. This measure cannot be described in any other way than as a unique attack on a company operating in Sweden," Tesla said in the filing, which CNBC translated to English.

Persons: Tesla, Elon Musk, Rishi Sunak, wasn't, CNBC's Lora Kolodny Organizations: British, Swedish Transport Agency, Bloomberg, CNBC, Tesla Locations: London, Britain, Norrköping, Sweden, Swedish

Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. "Sam and OpenAI were the catalyst that showed the world what AI tech is capable of," Jannsen said. Silicon Valley's high-profile startup CEO firings typically involve wrongdoing, rather than just philosophical differences about where the company is headed. "Sam Altman is a hero of mine," former Google CEO and investor Eric Schmidt said in an X post. — CNBC's Lora Kolodny contributed to this report WATCH: OpenAI says Sam Altman exiting as CEO because 'board no longer has confidence.'

Persons: Sam Altman, Carlos Barria, OpenAI, Steve Jobs, Altman, —, Jobs, U.S . Altman, Mark Zuckerberg, Jeff Bezos, Elon Musk, Greg Brockman, Brockman, Ron Conway, Greg, Brian Chesky, Matt Schlicht, Schlicht, Sam, Ryan Jannsen, Jannsen, Patrick Moorhead, They're, Moorhead, Josh Wolfe, Wolfe, he'd, Eric Schmidt, Tom Williams, Airbnb's Chesky, what's, Chesky, Satya Nadella, Zachary Lipton, Carnegie Mellon's Lipton, Lipton, — CNBC's Lora Kolodny Organizations: Economic Cooperation, Reuters, ChatGPT, Apple, U.S ., Amazon, Tesla, Microsoft, Tiger, Sequoia Capital, CNBC, Google, Lux Capital, Cq, Inc, Getty, Carnegie Mellon University, Industry Locations: Asia, San Francisco , California, U.S, Silicon Valley, OpenAI, what's, —

☆ OpenAI's Sam Altman exits as CEO because 'board no longer has confidence' in his ability to lead
▼ + stars: | 2023-11-17 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

OpenAI's board of directors said Friday that Sam Altman will step down as CEO and will be replaced on an interim basis by technology chief Mira Murati. "The board no longer has confidence in his ability to continue leading OpenAI," the statement said. The board also said that Greg Brockman, OpenAI's president, "will be stepping down as chairman of the board and will remain in his role at the company, reporting to the CEO." Before taking over as CEO, Altman, 38, was president of startup accelerator Y Combinator and gained prominence in Silicon Valley as an early-stage investor. Microsoft CEO Satya Nadella made a surprise guest appearance during the event, joining Altman on stage to discuss the startup's AI technologies and its partnership with Microsoft.

Persons: Sam Altman, Mira Murati, Ilya Sutskever, Adam D'Angelo, Tasha McCauley, Helen Toner, OpenAI, Greg Brockman, what's, Murati, Mira, ChatGPT, Satya Nadella, Nadella, Elon Musk, Altman, rapt, Ted Lieu, Mike Johnson, Joe Biden, Xi Jinping, Altman didn't, — CNBC's Lora Kolodny Organizations: Tech, Conference, Georgetown Center for Security, Emerging Technology, Microsoft, OpenAI, U.S . Senate, House Democratic Caucus, Economic Cooperation, U.S Locations: Laguna Beach , California, Mira, Silicon Valley, Indonesia, Asia, Pacific, Singapore, India, China, South Korea, Japan, San Francisco

☆ California DMV suspends Cruise's self-driving car permits, effective immediately
▼ + stars: | 2023-10-24 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

"When there is an unreasonable risk to public safety, the DMV can immediately suspend or revoke permits," the California DMV said in a statement. The California Department of Motor Vehicles on Tuesday suspended Cruise's deployment and testing permits for its autonomous vehicles, effective immediately. A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company's headquarters in San Francisco. "We learned today at 10:30 am PT of the California DMV's suspension of our driverless permits," Cruise spokesperson Hannah Lindow told CNBC in a statement. The probe, spearheaded by the National Highway Traffic Safety Administration, was prompted by multiple reports involving pedestrian injuries and Cruise vehicles in recent months, and it concerns an estimated 594 self-driving Cruise vehicles, according to the filing.

Persons: Hannah Lindow, Cruise, Philip Koopman, that's, Koopman, Kyle Vogt, — CNBC's Lora Kolodny Organizations: DMV, California DMV, Cruise, General Motors, The California Department of Motor Vehicles, General Motors Corp, CNBC, National, Traffic Safety Administration, Carnegie Mellon University, California's Public Utilities Commission, Google, LinkedIn Locations: California, San Francisco, U.S

☆ Tesla shares sink 9% following earnings report, cautious commentary from Elon Musk
▼ + stars: | 2023-10-19 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

SpaceX and Tesla CEO Elon Musk arrives for a U.S. Senate bipartisan forum on artificial intelligence at the U.S. Capitol in Washington, D.C., on Sept. 13, 2023. Shares of Tesla tumbled more than 9% Thursday, a day after the electric automaker released third-quarter results that missed on top and bottom lines. It was the first time Tesla has missed on both earnings and revenue since the second quarter of 2019. "Interestingly, Elon Musk (CEO) dedicated a large amount of time to the broader macro environment and the effects of currently high interest rates," the Bank of America analysts wrote in a Thursday note. "In our opinion, 3Q23 was one of the most cautious Tesla conference calls we've heard in years," the Morgan Stanley analysts wrote.

Persons: Elon Musk, Tesla, Musk, Morgan Stanley, 3Q23, we've, — CNBC's Lora Kolodny, Michael Bloom Organizations: SpaceX, Tesla, U.S, Senate, Capitol, Washington , D.C, Bank of America, Deutsche Bank Locations: Washington ,, Mexico

☆ Cruise will reduce robotaxi fleet by 50% in San Francisco while California DMV investigates ‘incidents’
▼ + stars: | 2023-08-19 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

In an aerial view, Chevrolet Cruise autonomous vehicles sit parked in a staging area on June 08, 2023 in San Francisco, California. Cruise will reduce its robotaxi fleet by 50% in San Francisco, the California Department of Motor Vehicles told CNBC. "The DMV is investigating recent concerning incidents involving Cruise vehicles in San Francisco," a DMV spokesperson said in a statement. In addition to the crash with a firetruck, one Cruise vehicle reportedly got stuck in concrete, and an autonomous vehicle with a passenger got hit by a driver. Last weekend, a slew of Cruise vehicles stalled and slowed traffic outside an outdoor music festival.

Persons: Alphabet's Waymo, Cruise, Greg Dietrerich, Dietrerich, — CNBC's Lora Kolodny Organizations: Chevrolet Cruise, Cruise, California Department of Motor Vehicles, CNBC, General Motors, San, DMV, Cruises Locations: San Francisco , California, Autonomous, San Francisco

☆ Elon Musk says users on X, formerly Twitter, will lose ability to block unwanted followers, eliminating key safety feature
▼ + stars: | 2023-08-18 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

Users of X, formerly known as Twitter, will no longer be able to block comments from unwanted followers, according to a post by X owner Elon Musk on Friday, eliminating what's long been viewed as a key safety feature. "Block is going to be deleted as a 'feature', except for DMs," Musk wrote Friday. The mute feature just keeps the individual user from seeing the undesired responses, but doesn't eliminate them from others' feeds. Twitter users have also long employed the block feature in boycotts and to avoid seeing ads from specific brands or promoters on the platform. Binance CEO Changpeng Zhao, an investor in the new Twitter alongside Musk, said in a post that the company should focus its attention elsewhere.

Persons: Elon Musk, Musk, Changpeng Zhao, Zhao, Louis Jones, Jones, — CNBC's Lora Kolodny Organizations: Twitter, DMs, Tesla, Brand Safety, CNBC

☆ Cyber concerns: CNBC executive's old Tesla ends up in Ukraine, new owner able to access accounts
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCyber concerns: CNBC executive's old Tesla ends up in Ukraine, new owner able to access accountsCNBC's Lora Kolodny and Warren Ahner, automotive cybersecurity expert, join 'Last Call' to talk cyber risk involved in mobile-connected car like Teslas after a CNBC executive learned the new owner of his old Tesla had access to his accounts.

Persons: Tesla, CNBC's Lora Kolodny, Warren Ahner Organizations: CNBC Locations: Ukraine

☆ Some crypto assets are securities, Manhattan judge says, complicating Coinbase and Ripple cases
▼ + stars: | 2023-08-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A Manhattan federal judge said in an opinion that cryptocurrencies are considered securities regardless of how they are sold. U.S. District Judge Jed Rakoff's decision Monday complicates SEC's litigation with both Ripple and crypto exchange Coinbase. The Ripple ruling was considered a win by the industry because it said a cryptocurrency may or may not be a security depending on who's buying it. The SEC has argued in cases against Binance, Coinbase and Kraken that many cryptocurrencies listed on popular exchanges are securities. The SEC has pursued numerous other crypto firms over the alleged unregistered offer and sale of securities, including Coinbase , Gemini and Genesis.

Persons: Hon Chang, joon, Kwon, cryptocurrencies, Jed Rakoff's, Coinbase, Rakoff, — CNBC's Lora Kolodny Organizations: UST, Securities and Exchange Commission, Terraform Labs, U.S, SEC, Binance Locations: Podgorica, Montenegro, Manhattan

☆ Tesla shares down on slimming margins, Cybertruck concerns
▼ + stars: | 2023-07-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

If it holds, it'll be the worst day for Tesla's stock in three months. Analysts also highlighted concerns with Tesla's margin "headwinds," which at 9.6% was the lowest result for at least the last five quarters. Tesla beat on the top and bottom lines, reporting revenue of $24.93 billion and earnings of 91 cents per share, adjusted, for the quarter ended June 30, 2023. Early this month, Tesla reported 466,140 total vehicle deliveries for the second quarter, the closest approximation of sales that Tesla reports. Cybertruck "factory tooling" is on track but the company is only producing "release candidate" builds, the company said in its earnings presentation.

Persons: Tesla, Elon Musk, it'll, Musk, we've, Mark Delaney, Goldman Sachs, Cybertruck, — CNBC's Lora Kolodny, Michael Bloom

☆ Elon Musk's Twitter files data-scraping lawsuit against unknown defendants
▼ + stars: | 2023-07-13 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Elon Musk's X Corp., the parent company of Twitter, filed a lawsuit against four unknown entities last week over data scraping on Twitter. Data scraping is when automated programs scour publicly accessible websites to collect data, which can later be used for a wide range of purposes, including training artificial intelligence large language models, targeting online advertisements and much more. The ruling reaffirmed the appeals court's decision, finding that scraping public data does not violate the Computer Fraud and Abuse Act. "Corp. has also limited access to Tweets for users who are not signed in to registered Twitter account." "By unlawfully scaping data, Defendants flagrantly ignore not only Corp.'s Terms of Service, but also the privacy preferences of Twitter users," the filing stated.

Persons: Elon Musk, Porte, Elon, — CNBC's Lora Kolodny Organizations: Twitter, Viva Technology, Porte de, Elon Musk's X Corp, X Corp, U.S, Ninth Circuit, LinkedIn, Corp, " Corp Locations: Paris, Texas, Dallas County , Texas, U.S

☆ Elon Musk's Twitter sues top law firm Wachtell over $90 million fee for work under prior ownership
▼ + stars: | 2023-07-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Attorneys for Elon Musk filed suit this week against the law firm that represented Twitter when Musk was trying to take the company private last year, claiming the firm charged too much for its work. The lawsuit says Wachtell, Lipton, Rosen, and Katz, which was Twitter's firm prior to Musk's acquisition, racked up a $90 million "last minute" legal bill. Wachtell represented Twitter after Musk reneged on his initial offer to take Twitter private for $44 billion. The law firm helped close the deal in November 2022, and was paid that $90 million fee for its work securing the transaction, which was tendered at a significant premium to Twitter's public market valuation. Twitter sued Musk for not honoring his commitment to the company's shareholders, and Musk eventually relented, purchasing Twitter at the agreed upon price.

Persons: Elon Musk, Musk, Wachtell, Lipton, Rosen, Katz, Reid Collins, Tsai, It's, Ben Roth, — CNBC's Lora Kolodny Organizations: Tesla Inc, Elon, Twitter, X Corp, San Francisco, Google, Rosen Locations: San Francisco , California, Austin , Texas, Delaware, California, San Francisco

☆ U.S. Virgin Islands issued subpoena to Elon Musk in Jeffrey Epstein lawsuit
▼ + stars: | 2023-05-15 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Electric car maker Tesla CEO Elon Musk meets with French Minister for the Economy and Finances Bruno Le Maire on the sidelines of the 6th edition of the "Choose France" Summit at the Chateau de Versailles, outside Paris on May 15, 2023. The U.S. Virgin Islands issued a subpoena to Tesla CEO Elon Musk seeking documents as part of that government's lawsuit against JPMorgan Chase over sex trafficking by the bank's longtime customer Jeffrey Epstein, a court filing revealed Monday. That filing said the Virgin Islands has tried since late April to serve Musk with the subpoena, which was issued because Epstein "may have referred or attempted to refer" Musk as a client to JPMorgan. The Virgin Islands asked Judge Jed Rakoff to authorize the government to serve Musk with the subpoena through so-called alternative service, which can includes taking out an advertisement alerting him to legal the demand for documents. CNBC has reached out to request comment from Musk, who in addition to being CEO of Tesla is head of SpaceX and Twitter CEO by e-mail.

☆ Zipline: 2023 CNBC Disruptor 50
▼ + stars: | 2023-05-09 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +3 min

But with the release of its latest drone, Zipline is spreading its unmanned wings far beyond medicine. Zipline also has relationships with medical providers in the country, and in recent years has conducted long-range medical drone flights in challenging geographies including the Appalachian regions of North Carolina. In 2022, Zipline became the first company to receive FAA Part 135 approval for long-range drone delivery in the U.S., a huge step towards greater domestic expansion. From lunch deliveries with Sweetgreen to health prescriptions from Walmart, Zipline can maneuver peak order times by creating its Zips in a way that automatically redistributes the drones from dock to dock for loading and launching. Zipline has already completed 540,000 deliveries to customers, which is more than what Alphabet and Amazon have delivered combined.

Tucker Carlson is back – on Twitter. Carlson was abruptly fired from his prime time post at Fox News weeks ago, shortly after the network paid a settlement to Dominion Voting Systems in its defamation lawsuit. In a three minute video posted to Twitter, Carlson berated the mainstream media allegedly lying to the public. Carlson added that Twitter "is not a partisan site." That Monday Fox said in a statement "FOX News Media and Tucker Carlson have agreed to part ways.

☆ Companies scramble to meet payroll, pay bills after SVB's swift failure
▼ + stars: | 2023-03-10 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

In this article SIVB Follow your favorite stocks CREATE FREE ACCOUNTEmployees stand outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. They'll receive a dividend within a week covering an undetermined amount of their money and a "receivership certificate for the remaining amount of their uninsured funds." Clients with uninsured funds — anything over $250,000 — don't know what to do. Gilbert said he's advising portfolio companies individually, instead of sending out a mass email, because every situation is different. "I got emails saying saying don't send money to SVB, and if you have let us know," Gilbert said.

☆ Tesla shares down 8% after Investor Day despite positive analyst sentiment
▼ + stars: | 2023-03-02 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

Tesla shares continued sliding Thursday morning, a movement that began the prior day during Tesla's Investor Day event, which provided investors with a long-term vision but lacked detail on new products or services. The electric-vehicle manufacturer's stock fell over 8% in the pre-market, despite positive analyst reaction to CEO Elon Musk's presentation and to Tesla's overall outlook. Jonas has an overweight rating and set a $220 price target for the stock. Goldman Sachs maintained a buy rating and a $200 price target, with analyst Mark Delaney writing Thursday that "the event reinforced our positive view of the company's long-term competitive positioning." Tesla shares are up over 80% year-to-date but remain well off of the 2021 high, which propelled the stock price above $400.

☆ Elon Musk meets with California Gov. Newsom at Tesla's new engineering headquarters to discuss expansion
▼ + stars: | 2023-02-22 | by ( Yasmin Khorram | ) www.cnbc.com time to read: +3 min

Tesla CEO Elon Musk and his staff are meeting Wednesday with California Governor Gavin Newsom and touring Tesla's new engineering headquarters. As the pandemic hit in March 2020, Musk and state officials clashed over reopening the Tesla plant in Fremont, California. In 2021, following repeated threats to leave the state, Musk moved Tesla's headquarters to Austin, Texas. Since then, Musk has made his political stance clear, characterizing California as a one-party state that is burdened with overregulation and high taxes. Tesla said it had 47,000 employees in California in 2022, according to a January 2023 blog post.

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