Tesla, Inc. (TSLA) is a car company that makes electric cars. It was founded in 2003 by Elon Musk. Tesla’s stock price has been on a roller coaster for the past few years, with sharp reversals and large swings in value. A major piece of news affecting Tesla’s stock price recently is the SEC investigation into the company’s accounting practices. This post will summarize the latest news about Tesla and its stock price.
Tesla Share Price
Tesla Inc. (TSLA) share price had a good day on Monday, rising by 1.5% in after-hours trading after the company reported better-than-expected first-quarter financial results. Tesla’s stock price was also boosted by news that US regulators have cleared the way for Tesla to sell its Model 3 electric car directly to consumers. The company now plans to begin production of the Model 3 in late 2017.
The strong performance of Tesla’s stock has caused it to rise steadily over the past several years, making it one of the most valuable stocks on the market. However, some analysts are concerned about Tesla’s reliance on government support, and whether it can maintain its lofty valuation amid increasing competition from other automakers.
Tesla Inc. Stock Price
Tesla Inc. (TSLA) stock price latest news: Tesla shares closed at $370.13 on Wednesday, Sep 5th, down 0.1% or $3.71 from their previous close of $370.54. Tesla share price rose 1% in the past week and is up 9% year-to-date as of this writing.
There are a few things that could happen to Tesla over the next several months, but by far the most likely scenario is that the company will deliver its 500,000th electric vehicle in 2019. This would be a significant achievement for Tesla and would help validate its Model 3 production process as well as solidify its position as a leading EV manufacturer.
If Tesla were to miss its 2019 deadline, it could face some backlash from shareholders and lose trust from potential buyers. Achieving this milestone is important for many reasons, not the least of which is that it provides credibility for future product releases and helps to establish a strong base of brand loyalty among consumers…
What is Tesla?
Tesla, Inc. (TSLA) is a car manufacturer and energy storage company founded by inventor, CEO and Chairman Elon Musk. Tesla designs, manufactures and sells electric vehicles, solar roofs, home batteries and Powerwall products. The company has a market capitalization of $51 billion as of June 2017.
In October 2016, Tesla announced that it had completed its acquisition of SolarCity Corporation for $2 billion in cash and stock. This acquisition included the installation or sale of more than 1 million solar roofs through 2020. In April 2017, Tesla delivered its 100th Model S vehicle to customers. The Model 3 is Tesla’s most affordable car with a starting price of $35,000 before incentives. As of May 2017, over 350,000 people have placed orders for the Model 3.
On August 7th, 2018 Tesla reported that they had installed 100MW worth of solar roof tiles on their roof at their Nevada Gigafactory 2 facility making it the largest roof in the world by acreage covered with solar tiles
History of Tesla
Tesla, Inc. is an American car manufacturer and energy storage company founded by entrepreneur Elon Musk with the purpose of creating affordable, zero-emission vehicles. The company has produced two successful luxury electric cars, the Tesla Model S and Tesla Model X, as well as the Model 3, a lower priced car.
Tesla’s history dates back to 2003 when Musk began working on his first electric vehicle, the Tesla Roadster. He launched the company in 2006 with angel investors and manufactured his first car in 2008. The company went public in 2010 and reached profitability for the first time in 2013. That year, Tesla announced plans to build a giant lithium ion battery factory in Nevada that would ultimately produce more than 500,000 batteries per year. Tesla reached its goal of producing 5,000 cars per week by 2016.
In June 2017, Elon Musk became chairman of Tesla and remained CEO. In August 2017 he unveiled plans for SpaceX—a space exploration company—and SolarCity—a solar power provider—both of which will be partly owned by Tesla. In October 2017 he made headlines when he announced he was taking Tesla private at $420 per share and initiated a call for investors who agreed to buy shares at that price – raising $8bn (£6bn). This move was met with criticism from some quarters due to concerns about possible financial mismanagement; however, after several rounds of additional funding it was revealed that most of this money would be used to settle lawsuits alleging securities fraud
Model S and Model X
Tesla’s market capitalization rose by $1.3 billion in the last trading day to reach a value of $51.2 billion at the time of writing this article.
Tesla Model S sales totaled almost 53,000 units in 2016 and with the launch of the all-new Tesla Model X SUV in early 2017, Tesla is well on its way to achieve its goal of producing 500,000 vehicles annually by 2020. The company also delivered over 22,500 cars during the third quarter of 2017 which establishes an impressive quarterly record for both Model S and Model X order intake and delivery performance combined.
Looking ahead to 2018, we can expect deliveries of both Model S and Model X to keep growing as Tesla has now started production on the long-awaited Gen 3 models for both sedans and SUVs. In addition, we are expecting major updates for both vehicles including Autopilot 2nd Generation features that will enable full self-driving capability across a broad range of driving conditions – making traveling home or to work just a tap away!
Recent Developments at Tesla
On September 7, 2017, Tesla announced that they had completed their acquisition of SolarCity Corporation. As a result, the company’s stock price rose by 5%. However, some analysts have questioned whether this was actually a good move for Tesla.
In July 2017, Tesla announced that they had completed their acquisition of DeepMind Technologies Ltd., an Artificial Intelligence (AI) company. This purchase was seen as a major step forward for the company as it aims to become a leader in the development and use of AI technology. The stock price increased by 10% following the announcement.
However, not all news has been positive for Tesla in recent months. In August 2017, Musk revealed on Twitter that he was considering taking Tesla private at $420 per share (a significant increase from the stock’s current price). This revelation caused significant volatility in the share prices and resulted in lawsuits being filed against Musk and Tesla. The stock price subsequently dropped by 25%.
What to expect from Tesla in the Future
Tesla has been one of the most innovative and ground-breaking companies in the world for several years now. The company’s electric vehicles have been a major force in changing the way people think about transportation. Tesla is currently working on its Model 3 sedan, which is scheduled to be released in mid-2018. The Model 3 will be followed by the Model Y crossover SUV and the Model S sedan.
The Tesla Model 3 Sedan
The Tesla Model 3 is slated to have a starting price of $35,000 and will come standard with a 90 kWh battery pack. The battery pack will give the car an estimated range of up to 310 miles and can go up to 620 miles on a full charge. Other features expected on the model include front-wheel drive, a 0-60 mph time of under 5 seconds, and Autopilot hardware that allows for hands-free driving.
The Tesla Model Y Crossover SUV
Following the release of the Model 3, Tesla is expected to release the Model Y Crossover SUV in late 2020. The SUV will have a starting price tag of $42,000 and will come standard with all-wheel drive, an 8-cylinder engine, and an interior that was designed with families in mind. Some other features expected on the model include an exterior design inspired by yachts, double bottom doors that open upward instead of sideways like traditional SUVs, and a seating capacity for up to five adults.
