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Tesla stock has endured seven consecutive losing sessions, and an eighth would mark its longest losing streak ever. After rallying early Wednesday, shares of Elon Musk's EV company gave up gains. Tesla has tumbled roughly 40% in December alone, and almost 70% year to date. On Tuesday, the stock tumbled 11% after Reuters reported that Tesla's Shanghai factory will extend its production slowdown through the end of January. Meanwhile, Tesla has proven to be the most profitable short bet this year, with traders doubling down on bearish plays.
Wedbush's Dan Ives calls Twitter an albatross on Tesla's neck
  + stars: | 2022-12-27 | 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 EmailWedbush's Dan Ives calls Twitter an albatross on Tesla's neckDan Ives, Wedbush, joins 'Closing Bell: Overtime' to discuss Tesla as the stock closes down again today and is on track to have its worst year since 2016.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full post-market interview with Wedbush's Dan Ives, EMJ Capital’s Eric Jackson and Puck’s William CohanWedbush's Dan Ives, EMJ Capital’s Eric Jackson and Puck’s William Cohan join 'Closing Bell: Overtime' to discuss Tesla as the stock closes down again today and is on track to have its worst year since 2016.
Ives wrote in a Friday note that Musk is now viewed as "asleep at the wheel." He added that "Musk has lost credibility with the broader investment community." "Need a leader at this time for Tesla, not Ted Striker," Ives said, referring to a character in the movie "Airplane." Tesla stock is in its worst sell-off since going public in 2010 and plunged below $150 per share on Wednesday, bringing the company's valuation below oil giant Exxon. But Ives put the responsibility on Musk and attributed 70% of the Tesla's sell-off to worry over his focus on Twitter.
The more details that emerge, the more I feel like this is going to make a great Michael Lewis book (and movie) one day. Among the highlights from his testimony include his assertion that the crypto market is "the largest Ponzi scheme in history." In other news:Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting, Wednesday, Nov. 2, 2022, in Washington. A top FTX exec blew the whistle on Sam Bankman-Fried's moves just two days before the crypto exchange collapsed. Morgan Stanley's Mike Wilson said the stock market could fall further in 2023.
Musk is using Tesla as his personal ATM, says Wedbush's Dan Ives
  + stars: | 2022-12-15 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMusk is using Tesla as his personal ATM, says Wedbush's Dan IvesDan Ives, Wedbush Securities, joins 'Closing Bell' to discuss Elon Musk selling off more Tesla stock.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSalesforce stock drop a knee-jerk reaction on leadership change, says Wedbush's Dan IvesDan Ives, Wedbush analyst, joins 'Closing Bell: Overtime' to discuss Salesforce shares falling amid news of leadership changes.
Apple could deal with a major iPhone shortage of up to 10% this holiday season because of Covid protests in China, according to Wedbush's Dan Ives. The protests marked an escalation in dissent in the country after hundreds of workers joined protests at Foxconn's iPhone plant in China earlier this month. For Apple, the Covid restrictions have meant a shortage in iPhones heading into the major holiday season. "The zero China Covid policy has been an absolute gut punch to Apple's supply chain with the Foxconn protests in Zhengzhou a black eye for both Apple and Foxconn," Ives wrote. "Now its the painful waiting game to see what ramped production looks like over the next week for Apple to ease some iPhone shortages that are building globally," he said.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSupply chain issues will be a headwind for Apple through holiday season, says Wedbush's Dan IvesDan Ives, Wedbush Securities managing director, joins 'Closing Bell' to discuss Apple's supply chain issues and how it could affect it's 'Black Friday' and overall holiday sales.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla could see brand deterioration due to Elon Musk, says Wedbush's Dan IvesDan Ives, Wedbush senior analyst, joins 'Closing Bell: Overtime' to discuss Tesla stock and why it was cut from Wedbush's 'Best Ideas' list.
A crypto crash, worsening results and insider selling didn't faze Ark Invest's Cathie Wood, who this week doubled down on a of host of her innovation stocks, including Coinbase , Tesla and Roblox . Wood snapped up shares of six companies for her flagship ARK Innovation ETF on Wednesday, including adding to some of her largest holdings, Zoom Video and Tesla. The popular investor has been adding to her Coinbase stake for two straight days, purchasing 420,000 shares Tuesday and 207,527 shares Wednesday for ARKK. Shares of the crypto exchange plunged 19.3% over the past two days as bitcoin dropped to its lowest since November 2020 amid the potential collapse of popular crypto exchange FTX. Wedbush's Dan Ives removed Tesla from the firm's "Best Ideas list" after what he called a "very nervous few months" for Tesla shareholders amid the "Twitter train wreck disaster."
Tesla misses on third quarter revenue, beats on earnings
  + stars: | 2022-10-19 | 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 EmailTesla misses on third quarter revenue, beats on earningsCNBC's Phil LeBeau joins 'Closing Bell: Overtime' to report on Tesla third quarter earnings. Wedbush's Dan Ives reacts.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIBM beats on earnings and revenue, hikes full-year revenue outlookCNBC's Frank Holland joins 'Closing Bell: Overtime' to report on IBM's third quarter earnings. Ritholtz's Josh Brown and Wedbush's Dan Ives react.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMusk's Twitter deal has been a laggard on Tesla stock, says Wedbush's Dan IvesDan Ives, Wedbush Securities managing director of equity research, joins 'Closing Bell: Overtime' to discuss Musk and Tesla shares sinking.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere are still opportunities to buy Apple, says Wedbush's Dan IvesDan Ives, Wedbush analyst, and Ritholtz Wealth Management's Josh Brown join 'Closing Bell: Overtime' to discuss Apple's stock drop after news the company will be scaling back production on the iPhone 14.
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