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Search resuls for: "Tesla ."


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☆ Short Hills Capital Partners' Stephen Weiss would rather short Tesla than own it
  + stars: | 2022-12-08 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +2 min
Stephen Weiss, the chief investment officer and managing partner of Short Hills Capital Partners, is very bearish on Tesla stock. Currently, Musk is running SpaceX, the Boring Company, Tesla and Twitter, which Weiss added is a "complete nightmare." Headwinds for Tesla, EVs In addition, he sees rising competition, a lack of infrastructure and a weak economy as major headwinds for Tesla going forward. "Now you look in a garage, you look anywhere, and you see tremendous cars that make Teslas look like Model Ts," he said, pointing to models from Ford and Porsche. Beyond his views on Tesla, Weiss recently sold Dick's Sporting Goods and Honeywell for profit in a rough environment to make money.
☆ Jack Dorsey’s Block backs bitcoin mining company that wants to bring 25-cent electricity to rural Africa
  + stars: | 2022-12-06 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +8 min
So in February, she began spitballing creative solutions with two friends, and the three of them landed on a sort-of counterintuitive idea: bitcoin mining. The new 533 kilowatt site in Kenya where 300 kilowatts will be used for bitcoin mining. We're not doing bitcoin for bitcoin," said the lead for bitcoin mining and wallet at Block, Thomas Templeton. Block is also working on a project to make bitcoin mining more distributed and efficient. Making the mining process more accessible has to do with more than just creating new bitcoin, according to Templeton.
☆ China EV maker XPeng pops 12% despite posting wider than expected loss; deliveries expected to fall
  + stars: | 2022-11-30 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +4 min
However, Xpeng shares jumped 12% in premarket trade in the United States as the company signaled it could see a bottom to falling deliveries. Net loss: 2.38 billion Chinese yuan versus 2.09 billion yuan expected. That was wider than the 1.59 billion net loss posted in the same period last year, but narrower than the second quarter. A number of analysts have cut their target share price for the company. Instead, XPeng will offer "incentives" to customers to buy cars in a bid to regain some lost market share, Gu said.
☆ Ron Baron runs the best mutual fund of the last five years — Here are his top picks
  + stars: | 2022-11-18 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Longtime investor Ron Baron's mutual fund has been the the biggest winner over the last five years as his top growth picks reaped outsized returns. The fund is focused on U.S. companies of any size with significant growth potential. The top holding of the fund by far is Elon Musk 's Tesla, with a 52% portfolio weighting at the end of the third quarter. Baron has been a longtime bull in Tesla . A relatively new holding Baron bought in 2019 is Iridium Communications , a long-time provider of satellite communications to specialized phones.
☆ Elon Musk is now working out of Twitter headquarters, thanks employees for long hours
  + stars: | 2022-11-11 | by ( Lora Kolodny | ) www.cnbc.com   time to read: +2 min
On Friday, Twitter 's new owner Elon Musk sent a companywide email to employees of the social media giant thanking them for working long hours since he took over on Oct. 28. Two current Twitter employees told CNBC that they were fielding calls from colleagues and clients about all the changes to the platform. Two employees told CNBC that they have not gotten formal guidance from the company's human resources department on remote work. This week, Musk told Twitter employees that he was reversing the company's previous "work from home forever" policy which had been enacted by his personal friend and collaborator, former Twitter CEO Jack Dorsey. Here's the e-mail from Elon Musk to Twitter employees on Friday, transcribed by CNBC:
☆ This Chinese electric carmaker's stock could rally by more than 260%, Citi says
  + stars: | 2022-11-01 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +3 min
Citi says BYD is one of its "top" buy ideas among Chinese stocks and expects shares in the automaker to soar by more than 260% over the next 12 months. Jeff Chung, an equity analyst at Citi, reiterated his buy rating and price target on the stock after the company announced earnings on Oct. 28. Chung's price target for BYD is significantly higher than other analysts'. The median price target from six analysts covering the stock gives the stock a potential upside of 60.8%, according to FactSet data. Citi analysts recommended investors in China adopt a "barbell strategy" — a mix of conservative stocks to protect against downside risks and "high-conviction growth stocks" — in their base case scenario.
☆ Welcome to Elon Musk’s Twitter Free Speech Zone
  + stars: | 2022-10-28 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
Fixing Twitter might be Elon Musk’s biggest challenge yet, and this is a guy who hopes to die on Mars. After a long, tempestuous takeover process, this week Mr. Musk closed the $44 billion deal, marched into Twitter’s headquarters in San Francisco, and promptly cleared out the C-suite. Users now await Mr. Musk’s plans for the social site, which are hard to distill into 140 characters. A good first step would be to emphasize that dissenting views on political topics like Covid-19 or climate change won’t be throttled as “disinformation.” Mr. Musk could move the company to Texas, as he did for Tesla . Simply getting the site’s employees out of the San Francisco bubble might help.
☆ Twitter 'cannot become a free-for-all hellscape,' Musk tells advertisers
  + stars: | 2022-10-27 | by ( Lauren Feiner | ) www.cnbc.com   time to read: +2 min
"Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!" Musk wrote in a message on Twitter he posted with the words "Dear Twitter Advertisers." Musk told advertisers in the note that most of the speculation about why he bought the platform "has been wrong." "There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society." "Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise," Musk added.
☆ Portfolio manager names 3 investing themes to back and what to buy in a choppy market
  + stars: | 2022-10-26 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +3 min
Investors will look to corporate earnings and forward guidance during this peak reporting season, with tech firms set to report this week. He said the three themes his firm is going for now are: income, energy and small-cap stocks. Energy Petrides highlighted one "interesting play" in the energy market — Master Limited Partnerships (MLPs), which trade like stocks but are really a partnership interest. Small caps Petrides said small-cap stocks have been "one of the best-performing" asset classes on average since the 1950s. Some small-cap stocks can be described as value stocks, which are shares that appear to trade at a lower price relative to their fundamentals.
☆ South Korea, U.S. in 'intense conversation' over EV tax credits, trade ambassador says
  + stars: | 2022-10-25 | by ( Michael Wayland | ) www.cnbc.com   time to read: +3 min
SAVANNAH, Ga. – South Korean officials are working closely with the U.S. government to adjust restrictive regulations on electric vehicles under the recently passed Inflation Reduction Act, according to the county's trade ambassador Tuesday. "We are in very intense conversation at the moment," Cho said Tuesday following the groundbreaking of a $5.5 billion electric vehicle plant by Hyundai Motor Group near Savannah, Georgia. Under the IRA, plug-in electric vehicles much be produced in North America to qualify for the tax incentives. U.S. Deputy Secretary of Commerce Don Graves during the event on Tuesday called South Korea a strong trade partner, but did not comment on the Inflation Reduction Act. Last week, U.S. Trade Representative Katherine Tai spoke with Korea's Minister for Trade Ahn Dukgeun about the IRA.
☆ Ford asks dealers to invest in EVs as it chases Tesla-like profit
  + stars: | 2022-09-14 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022. Ford is offering its dealers the option to become "EV-certified" under one of two programs — with investments of $500,000 or $1.2 million. Dealers in the higher tier, which carries upfront costs of $900,000, will receive "elite" certification and be allocated more EVs, executives said. It's an effort to elevate Ford dealers as the company seeks to grow sales across its traditional and commercial businesses as well as EVs. Tesla and other electric vehicle startups sell directly to consumers without franchised dealers.
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