Posted on 09/23/2020 9:31:14 AM PDT by RoosterRedux
Tesla Inc. unveiled battery innovations and increased efficiencies that appeared to underwhelm investors late Tuesday at its much anticipated “Battery Day.”
Tesla stock’s TSLA, -8.89%, which had gained more than 4% after an upbeat post-shareholder-meeting presentation, turned south as soon as Chief Executive Elon Musk said that some of the innovations showcased at the event were “close to working” and some three years away from fruition.
Shares fell as much as 7.6% in Tuesday’s after-hours session, but have pared some gains to trade down 6.0% in Wednesday’s premarket session.
“It does work but not [yet] with a high yield,” Musk said, adding that Tesla has set up a pilot battery plant in Fremont, Calif., to work through the challenges, with production “ramping up.”
There’s a “clear path to success but a ton of work from here to there,” Musk said.
Long-term investors make their plans for a year away, and a three-year horizon is “just a long time,” said Gene Munster with Loup Ventures. “Everything they talked about had substance,” Munster said. “But investors wanted immediately.”
The day’s “real takeaway” was that Tesla is aiming for full vertical integration, which would position it one step ahead of the rest of the industry, Munster said.
Keeping it all in house, from mining interests to battery design and manufacturing, is “a flywheel that is difficult to catch,” he said. It would lead to cost reductions, lower prices and ultimately more demand for Tesla cars, Munster said.
Musk on Monday had already sought to tamp down Wall Street’s high expectations for the event, tweeting that some of the technologies to be revealed “will not reach serious high-volume production until 2022.”
The stock closed more than 5% lower in Tuesday’s regular trading session.
(Excerpt) Read more at marketwatch.com ...
I think when Musk talks about “full integration”....he’s not talking about just the EVs.
He’s talking about power.
Is Elon Musk a reincarnation of PT Barnum?
The Nikola incident seems to be making some gamblers look at Tesla with the skeptical eye they should always have had.
A couple things that a person should think about regarding Tesla....
If their Mkt Cap is #1 in the world, by a wide margin, then why don’t they have more cars to choose from? Why don’t they upgrade their styling?
If California can’t create enough electricity for turning on lamps... how would there be enough for Tesla cars?
The stock is up 1000% for the year, but sales actually have decreased?
The company makes virtually no profit.
If electric vehicles are so wonderful, then why doesn’t Toyota aggressively pursue that space?
From what I hear, the market was betting on the battery system, not the cars.
500 billion, at peak mkt cap, that’s a pretty big bet.
Then again, the Nasdaq today is like 1999...no lack of fundamental value seems relevant to the discussion. Earnings? Profits? Book Value? Dividend? Balance Sheet? Debt Load?
Who cares...”it’s going up”...
Maybe the battery died....................
Battery technology is hard - there’s been no Moore’s Law when it comes to energy storage, unfortunately. One good thing about electric car is that it’s spurring R&D in energy storage technology.
That new battery shown will likely be in production by 2021. Primary use: the battery packs on the new Roadster and the new Cybertruck initially, then will replace the battery packs on the Model 3 and Y by late 2021.
“Professional”
Only thing more pathetic than someone who has shorted a winner, is someone who has convinced his friends and family to short it.
Tesla’s worst days are seen as glorious buying opportunities.
I’d buy an electric car in an instant if I could give it a 250 mile refill in a couple of minutes.
“That new battery shown will likely be in production by 2021”
How much better is the new one than the current one?
And that may happen within five years. The new CHAdeMO 3.0 standard, which charges at up to 900 kW DC, could in theory charge something like a Tesla Model 3 in under seven minutes from empty to full.
Uh huh....
I never said to short it. It’s just a grossly overvalued growth stock. That kind of thing happens, but eventually the endings are the same.
Oh, piff...it’s no more than “ Buy the rumor, sell the news.”
Is Elon Musk a reincarnation of PT Barnum?
That is part of the job description.
Sometimes he gets carried away, like with his kid’s name.
“which charges at up to 900 kW DC”
That much juice going into a car, or for that matter going into the recharging station from the grid, is scary. And then think of 100 or 1000 cars doing that at the same time in a city.
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