BREAKING >>>
Tesla Inc. investors voted for Chief Executive Officer Elon Musk’s compensation package and moving the company’s state of incorporation to Texas, signaling confidence in his leadership despite slumping sales and a precipitous drop in the stock price. The electric-car maker announced the results at its annual meeting Thursday in Austin without disclosing the breakdown of votes. Musk had foreshadowed the outcome the night before in a post on X, saying both resolutions were “passing by wide margins.” The pay vote is only advisory and doesn’t guarantee Musk will get his money. A Delaware judge nullified Musk’s 2018 compensation plan in January, and Tesla is expected to appeal. If that appeal fails, moving the company’s legal home to Texas would allow the board to revive the pay package in a new state with potentially more favorable courts. Source: Bloomberg
Why is tesla $TSLA NOT a car company explained in one picture
Antonio Linares
8 of the 10 biggest winning stocks in 2020 have lost value since the end of that year including Tesla $TSLA
Source: Barchart, FT
Beware tesla shorts... the short interest is at 3-year high
Source: Bloomberg, www.zerohedge.com
$TSLA Tesla Q1 2024 Revenue Breakdown: $21.30B
Source: The Future investors
BREAKING: Tesla stock, $TSLA, surges over 8% after releasing Q1 2024 earnings results despite missing by nearly $1B on the top line and missing on EPS
Tesla Q1 revenues fell 8.7% over the last year, the biggest decline since 2012. Net Income fell 55% YoY to $1.1 billion. Gross margins moved down to 17.4% in Q1 from 19.3% a year ago and 29.1% two years ago The company said in the deck that it’s accelerating the launch of “new vehicles, including more affordable models,” that will “be able to be produced on the same manufacturing lines” as Tesla’s current lineup. Tesla is aiming to “fully utilize” its current production capacity and to achieve “more than 50% growth over 2023 production” before investing in new manufacturing lines. NB: The company also revealed that NONE of their Bitcoin was sold despite recent speculation. Source: The Kobeissi Letter, CNBC
$TSLA Tesla Q1 FY24:
• Deliveries -9% Y/Y to 386K. • Revenue -9% Y/Y to $21.3B ($1.0B miss). *Automotive -13% *Energy Gen. & Storage +7% • Gross margin 17% (-2pp Y/Y). • Operating margin 5% (-6pp Y/Y). • Capex +34% Y/Y to $2.8B. • Free cash flow (outflow) ($2.5B). • Non-GAAP EPS $0.45 ($0.05 miss) and -53% yoy Source: App Economy Insights
TESLA DOUBLED ITS AI COMPUTE OVER THE LAST 3 MONTHS
TESLA SPENT 1 BILLION DOLLARS ON AI INFRASTRUCTURE OVER THE LAST 3 MONTHS $TSLA Source: Gurgavin
