tl;dr
Tesla (NASDAQ:TSLA) fell 4.5% in afternoon trading on Monday after a series of new developments. Investors were left grappling with the implications of lower pricing on the company's FSD package, an announcement by Elon Musk of global job cuts totaling at least 10% of the workforce, and the departur...
Tesla (NASDAQ:TSLA) fell 4.5% in afternoon trading on Monday after a series of new developments. Investors were left grappling with the implications of lower pricing on the company's FSD package, an announcement by Elon Musk of global job cuts totaling at least 10% of the workforce, and the departure of two high-ranking and key Tesla (TSLA) execs. Weighing in on the latest Tesla (TSLA) drama, Wedbush Securities said the loss of Drew Baglino is an absolute gut punch loss as he was noted to be instrumental in the Powertrain and Energy initiatives at Tesla (TSLA). Ives highlighted that he was also viewed by many as key to the Model 2 initiative over the next few years. "The pressure on the stock today is being exacerbated by the Baglino news which was very unexpected," warned Ives. The latest twists and turns raise the stakes for Tesla's (TSLA) earnings call on April 23, when analysts are expected to try to pin down Elon Musk on the strategy with a mass-market model and timing of a viable robotaxi fleet. "We need to hear the rationale for the cost-cutting, the strategy going forward, product roadmap, and an overall vision from Musk otherwise many investors might head for the elevators during this Category 5 perfect storm of weak demand Tesla is seeing globally in 2024," highlighted Ives. The electric vehicle sector had another rough session on Monday as analysts pointed to the potential for some full-year guidance cuts alongside earnings reports over the next few weeks. The decliners as of 2:20 p.m included Polestar Automotive (PSNY) -9.6%, VinFast Auto (VFS) -9.0%, Rivian Automotive (RIVN) -8.2%, Nio (NIO) -6.3%, and XPeng (XPEV) -4.5%.
More about Tesla Inc
Company: Tesla Inc
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Sales: $544.76 billion
Current Stock Price: $39.87
Dividend Yield: None
Market Cap: $967.73 billion
EPS: $186.88
P/E Ratio: 1.115
EV/EBITDA: 30.49
Debt/Equity: 0.155
Battery Storage Supplied in 2020: 3 GWh
More about Polestar Automotive Holding UK PLC Class A ADS
Polestar Automotive Holding UK PLC Class A ADS
Industry: MANUFACTURING
Sub-Industry: MOTOR VEHICLES & PASSENGER CAR BODIES
Revenue: 3070312000
EBITDA: 2829597000
EPS: -0.35
P/E Ratio: 1.341
Dividend: -0.258
Market Cap: 3.28
Shares Outstanding: 0
Beta: 0.408
More about VinFast Auto Ltd. Ordinary Shares
VinFast Auto Ltd. Ordinary Shares
VinFast Auto Ltd., an automotive manufacturer, engages in Automobiles and E-scooter related business in Vietnam and the United States.
Sector: TECHNOLOGY
Industry: GENERAL
Market Cap: 12,570,719,000
P/E Ratio: -0.99
EPS: 9376.78
ROE: -2.512
Revenue: 22,643,581,387,000
Dividend Yield: None
Beta: 0
Volatility: 1.593
More about Rivian Automotive Inc
Rivian Automotive Inc Summary
Industry: Manufacturing - Motor Vehicles & Passenger Car Bodies
Revenue: $8,924,118,000
Net Income: -$5.74
EBITDA: $4.682
EPS: -$1.225
Market Cap: $4,434,000,000
PE Ratio: 17.84
Dividend Yield: 0
Beta: 0.983
More about Nio Inc Class A ADR
Nio Inc Class A ADR Summary Nio Inc Class A ADR Summary
Nio Inc. designs, develops, manufactures, and sells smart electric vehicles in mainland China, Hong Kong, the United States, the United Kingdom, and Germany. The company is headquartered in Shanghai, China.
Industry Information
Industry: MANUFACTURING
Sector: MOTOR VEHICLES & PASSENGER CAR BODIES
Employees: 9119884000
Stock Performance
Previous Close: $32.71
Change: -1.72
Market Cap: $55,617,933,000
PE Ratio: 15.21
Dividend Yield: 0
Beta: 0.065
More about Xpeng Inc
Xpeng Inc Summary
Xpeng Inc. designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. The company is headquartered in Guangzhou, the People's Republic of China.
Industry: MANUFACTURING, MOTOR VEHICLES & PASSENGER CAR BODIES
Revenue: $7,413,256,000
Net Income: -1.65
EPS: 35.24
ROE: -0.338
Market Cap: $30,676,066,000
P/E Ratio: 14.42
PEG Ratio: -0.385
Dividend: 1.539
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.