Financial investment company Berenberg has completed an analysis of Tesla and concluded its stock, currently priced at about $380 per share, could surge another 30% in the next 12 months. In fact, the analyst team, headed by Alexander Haissl, claims the company could soon have a near monopoly in the market for electric cars.
The 2017 Annual Tesla Shareholder’s Meeting on June 6th blew the lid off of new updates on Model 3, Model Y, and Tesla Semi, while also providing updates on more mundane business matters. One massive update was about the number of Gigafactories Tesla is planning around the world. CEO Elon Musk shared that it is planning for at least 10 Gigafactories, but could build as many as 20.
Tesla held its annual shareholder meeting on June 6th, 2017, at 2:30pm PST. The meeting included a summary of progress to date as well as a look into the future for the company. A key piece of that message focused on Model Y, which was initially planned to be a compact utility vehicle built on the platform for the Model 3. Elon shared that “We made a mistake designing Model X from the Model S platform,” which resulted in it being shoehorned onto a sub-optimized platform that required some concessions.
Toyota has effectively sold off all of its shares in Tesla — with the company having finished doing so by the end of 2016, apparently. That news comes to us from a recent announcement from a company spokesperson.
In a recent phone interview with The Guardian that was focused mostly on working conditions at Tesla’s Fremont facility, CEO Elon Musk made some interesting comments about the firm’s current $50 billion plus market cap.
Tesla, “the company that Twitter built,” had a banner day in the headlines yesterday. A Model X rented for a wedding was crashed into by a stolen car. Meanwhile, SpaceX launched its heaviest satellite yet. Adam Jonas, one of the biggest cheerleaders for Tesla stock on Wall Street lowered his sights a bit. And Elon Musk’s cousin, Lyndon Rive, says he will leave the company next month to pursue “other opportunities.”
To date, traders short selling Tesla stock in 2017 have lost around $3.7 billion. What that means is Tesla short sellers have lost more money on their own so far this year than short sellers of Apple, Amazon, and Netflix stock have collectively.
Tesla CEO Elon Musk recently revealed through Twitter that the company would be revealing its new semi truck at an event in September (as we reported at the time). That tweet seemed pretty optimistic as regards the quality of the semi truck being developed by Tesla, with Musk stating: “Team has done an amazing job. Seriously next level.”
Let’s be honest, comparing Tesla to conventional automakers like GM, Ford, and Fiat-Chrysler Automotive is a little unfair — the “Big 3” don’t sell solar roofs or energy storage systems, just cars.
How did we shareholders get to this milestone? After all, Tesla has done everything totally wrong for years. Haven’t you been reading? This company can’t do anything right.
