tl;dr
Ramifications of a shift in strategy at Tesla (NASDAQ:TSLA) continue to be felt. The Austn-based company is reportedly backing away from its high-volume gigacasting manufacturing plans. Sources told Reuters that Tesla will slow down working on the radical manufacturing process, which was pioneered b...
Ramifications of a shift in strategy at Tesla (NASDAQ:TSLA) continue to be felt. The Austn-based company is reportedly backing away from its high-volume gigacasting manufacturing plans. Sources told Reuters that Tesla will slow down working on the radical manufacturing process, which was pioneered by supplier Idra Group. The gigacasting goal was to die-cast large portions of the car’s underbody in one piece, potentially for use in the mass-market Model 2. Of note, Tesla management has discussed the benefits of gigacasting advancements on conference calls in 2022 and 2023. Morgan Stanley reminded investors that Tesla leadership has a history of increasing intensity when its back is against the wall. "Investors should expect a volatile tape as the company enters an unfamiliar phase in its strategic lifecycle," warned analyst Adam Jonas. Shares of Tesla fell 1.2% in afternoon trading on Wednesday. The recent rally has pared the year-to-date loss for the electric vehicle stock to -27.1%. TSLA still trades below its 100-day and 200-day moving averages, but the relative strength index is back over 50 to suggest rising momentum.
More about Tesla Inc
Tesla Inc: A Technical Analysis Perspective
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla's current products include electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, as well as other related products and services. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market (which includes plug-in hybrids) and 23% of the battery-electric (purely electric) market. Through its subsidiary Tesla Energy, the company develops and is a major installer of solar photovoltaic energy generation systems in the United States. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020.
Technical Analysis of Tesla Inc Stock
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Market Cap: $584.52 billion
Current Price: $46.87
Dividend Yield: None
EPS: 3.91
P/E Ratio: 29.8
ROE: 0.144
Revenue: $94.75 billion
Operating Margin: 17.76%
Net Margin: -0.534
Debt to Equity: -0.087
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