{"id":8766,"date":"2024-04-24T11:00:29","date_gmt":"2024-04-24T11:00:29","guid":{"rendered":"https:\/\/economicherald.net\/?p=8766"},"modified":"2024-04-24T11:00:29","modified_gmt":"2024-04-24T11:00:29","slug":"elon-sticks-it-to-our-man-as-tesla-jumps-13pc-in-post-earnings-trade","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8766","title":{"rendered":"Elon sticks it to our man as Tesla jumps 13pc in post earnings trade"},"content":{"rendered":"<p>Megolomanaical CEO \u2013 check.<\/p>\n<p><strong>Booming competition \u2013 <em>check.<\/em><\/strong><\/p>\n<p><strong>Lower sales \u2013<em> check.<\/em><\/strong><\/p>\n<p><strong>Price war vs cheap Chinese producers \u2013 <em>check.<\/em><\/strong><\/p>\n<p><strong>Slowing production \u2013 <em>check.<\/em><\/strong><\/p>\n<p><strong>Mass layoffs \u2013 <em>check.<\/em><\/strong><\/p>\n<p><strong>Among the worst performing stocks in the S&amp;P500 year-to-date \u2013 <em>check.<\/em><\/strong><\/p>\n<p><strong>Social media problems (ie: CEO is unofficial CEO of it and spends all his time onnit) \u2013 that\u2019s a big check\u2026<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>Yes, Tesla (TSLA) has gone and had a shit few months.<\/p>\n<p>For the last week, as the share price fell even further, tortured shareholders have done their best to prepare for what only the limit of human imagination could become the electric carmaker\u2019s worst results.<\/p>\n<p>In anticipation,\u00a0 TSLA stock has screeched to a -42% halt, so far this year.<\/p>\n<p>And, while the carmaker didn\u2019t exactly meet analyst expectations, the company\u2019s first-quarter results were positively received by shareholders.<\/p>\n<p>As one can note in after hours trade\u2026<\/p>\n<p>Via Google<\/p>\n<p>\u00a0<\/p>\n<p>So what happened?<\/p>\n<p>Well, regardless of the sales slump which led to a 9% fall over in first-quarter revenu, your man, Elon has promised to fast-track the launch of \u201cmore affordable\u201d EVs.<\/p>\n<p>The TSLA biz letter dropped ahead of the earnings call pledged to \u201caccelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025\u201d.<\/p>\n<p>These\u2019ll be of the \u201cmore affordable\u201d sort, which can be pumped out via already waiting manufacturing lines inside various gigafactories.<\/p>\n<p>While great news, and a short-term booster for a shattered share price, the reality as best described by the Deutsche Bank analyst Emmanuel Rosner is closer to what we\u2019ve been seeing.<\/p>\n<p>\u201cTSLA stock will need to undergo a potentially painful transition in ownership base, with investors previously focused on Tesla\u2019s EV volume and cost advantage potentially throwing in the towel.\u201d<\/p>\n<p>Elon decared back in January that Tesla was prepping production of a new cheaper EV next year, priced at US$25,000 and dubbed Model 2.<\/p>\n<p>TSLA stock had fallen on a Reuters report earlier this month that the project had been shelved, which Musk strenuously denied.<\/p>\n<p>During the TSLA earnings call (below) Musk noted that no matter what, Tesla will break the back of auto-autonomy.<\/p>\n<p>\u201cEven if aliens kidnap me tomorrow, Tesla will solve autonomy.\u201d<br \/>\n\u00a0<\/p>\n<h2>Chaos in perpetuity<\/h2>\n<p>The earnings report follows another cray-cray week in the life of Tesla, which slashed prices in many of its major markets, following notable price cuts in the States.<\/p>\n<p>Its wunderkind-billionaire boss Elon Musk picked a blue with our own Albo, and then had to nix a long-overdue trip to India, where surely Tesla is ripe to make some inroads.<\/p>\n<p>PM Anthony called Elon a right \u201carrogant billionaire who thinks he is above the law\u201d which was right twice although this was in regards to the refusal of the X-boss to scuttle videos of the violent stabbing in a Sydney church last week.<\/p>\n<p>The federal court ordered a 2-day injunction against X to hide posts globally containing the footage of the alleged stabbing.<\/p>\n<p>The eSafety commissioner had also told X to remove the posts, but Elon\u2019s people at X had only blocked them from access in Australia \u2013 pending Elon\u2019s own legal challenge.<\/p>\n<p>And some hearty X-ing:<\/p>\n<p>Don\u2019t take my word for it, just ask the Australian PM! <a href=\"https:\/\/t.co\/ZJBKrstStQ\">pic.twitter.com\/ZJBKrstStQ<\/a><\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1782441020036145267?ref_src=twsrc%5Etfw\">April 22, 2024<\/a><\/p>\n\n<p>Albo on Tuesday called Elon \u201ca bloke who\u2019s chosen ego and showing violence over common sense\u201d.<\/p>\n<p>Meanwhile, Elon also left Narendra Modi hanging. Originally Musky had planned to announce with some Elon-dazzle, TSLA\u2019s bustling entry into the market with a $2bn-$3bn hunk of investing.<\/p>\n<p>But with the results call incoming and the company 0 \u2013 and particularly the CEO \u2013 under mounting pressure, Mr Musk delayed the Dehli trip citing \u201cvery heavy Tesla obligations.\u201d<br \/>\n\u00a0<\/p>\n<h2>TSLA Q1 Earnings<\/h2>\n<p><strong>What Wall Street expected:<\/strong><br \/>\nQ1 revenue of $22.5bn and EPS of $0.50.<\/p>\n<p><strong>What Wall Street got:<\/strong><br \/>\nQ1 revenue of $21.3bn, and EPS of $0.34.<\/p>\n<p>Q1 Earnings Call starting in ~10 mins <a href=\"https:\/\/t.co\/NSPNDuqW5D\">https:\/\/t.co\/NSPNDuqW5D<\/a><\/p>\n<p>\u2014 Tesla (@Tesla) <a href=\"https:\/\/twitter.com\/Tesla\/status\/1782882305494729099?ref_src=twsrc%5Etfw\">April 23, 2024<\/a><\/p>\n\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/news\/elon-sticks-it-to-our-man-as-tesla-jumps-13pc-in-post-earnings-trade\/\">Elon sticks it to our man as Tesla jumps 13pc in post earnings trade<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Megolomanaical CEO \u2013 check. Booming competition \u2013 check. Lower sales \u2013 check. Price war vs cheap Chinese producers \u2013 check. Slowing production \u2013 check. Mass <a href=\"https:\/\/economicherald.net\/?p=8766\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8767,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Elon sticks it to our man as Tesla jumps 13pc in post earnings trade - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=8766\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon sticks it to our man as Tesla jumps 13pc in post earnings trade - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Megolomanaical CEO \u2013 check. 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