Tesla Sales in Germany Fall 55 Percent, UK Down 60 Percent in July
New registrations in the UK plunged about 60 percent to 987 vehicles, down from roughly 2,462 a year earlier, according to data released on Aug. 5 from the Society of Motor Manufacturers and Traders.
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Yahoo
2 hours ago
- Yahoo
Elon Musk Says $150K Investment In Tesla 'Probably' Makes You A Millionaire
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk thinks investing $150,000 in the EV giant's stock could yield high returns for the investor. Check out the latest price of Tesla stock here. Investing In Tesla Could Make You A Millionaire, Elon Musk Says On Tuesday, a user on social media platform X, Cole Grinde, shared a screenshot of Tesla stock performance since it first went public in 2010, with the caption "$150,000 invested in Tesla will most likely make you a millionaire."Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Responding to the post, Musk agreed with the caption. "I think this is probably correct," the billionaire said on Musk Set For $29 Billion Package As Tesla Sales Decline Musk is all set to receive over 96 million Tesla shares as part of his CEO compensation award. The shares amount to over $29 billion in value. However, it's still shy of the $56 billion package originally approved by the Tesla board before being overruled by a Delaware judge in 2024. Despite this, Tesla's sales are falling in multiple markets across the world, with European sales down in double-digit percentages in countries like France and the UK, where Tesla delivered 987 units in July, marking a 60% Robotaxi Plans Face Criticism, Rival BYD Announces Luxury-Focused European Expansion Tesla's Robotaxi faced criticism from analysts like Future Fund LLC's investor Gary Black, who said that the EV giant isn't the only one that will "master unsupervised autonomy." Elsewhere, the company announced it would be expanding its ride-hailing service in the San Francisco Bay Area. However, it's worth noting that the ride-hailing service isn't a Robotaxi as there will be a safety driver present in the car at all times. Meanwhile, Tesla rival BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) announced it was bolstering its presence in the European market by introducing its two sub-brands, Yangwang as well as Denza, into the region next year. Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today! Read Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Mijansk786 / This article Elon Musk Says $150K Investment In Tesla 'Probably' Makes You A Millionaire originally appeared on
NBC News
2 hours ago
- NBC News
Wall Street gains, as oil ends lower in volatile trade
Wall Street indexes gained on Wednesday on largely upbeat corporate earnings, and U.S. yields also rose, while European shares closed flat and broke a two-day winning streak. U.S. President Donald Trump issued an executive order imposing an additional 25% tariff on goods from India, saying the country has imported Russian oil. Oil prices seesawed and finished down, as Trump's remarks about progress in talks with Moscow created uncertainty on whether the U.S. would impose new sanctions on Russia. MSCI's gauge of stocks across the globe rose 0.65% to 933.23. On Wall Street, the Nasdaq Composite led gains, rising 1.21% to 21,169.42 as Apple shares climbed after news of its plans to announce a domestic manufacturing pledge. The Dow Jones Industrial Average rose 0.18% to 44,193.12 and the S&P 500 rose 0.73% to 6,345.06. 'Earnings are seeing a mixed reaction. Particularly for a few of the AI names, expectations were just extremely high, but by and large, the earnings in aggregate have been good enough to keep a floor under the market,' said Ross Mayfield, investment strategy analyst at Baird. Europe's broad STOXX 600 index closed 0.06% lower, dragged down by healthcare stocks after Trump announced a tariff plan for the pharmaceutical sector. MSCI's broadest index of Asia-Pacific shares outside Japan closed lower by 0.08% to 654.33, while Japan's Nikkei rose 0.60% to 40,794.86. The health of the U.S. economy is a major focus for markets, and Wall Street closed lower on Tuesday after data showed services sector activity unexpectedly flatlined in July. That reinforced the message from Friday's soft jobs data, which caused markets to significantly increase bets on the Federal Reserve cutting rates in September. 'There's this tug-of-war going on between the more concrete signs that we have seen that the U.S. economy is slowing and the fact that rate cuts are coming, which removes some of the pressure on valuations,' said Samy Chaar, chief economist at Lombard Odier. Traders have been focused on tariff impacts. 'The market is more focused on the fact that we're not getting maximalist tariffs, but I wonder if it isn't focusing enough on the fact that we are still getting something moderate, and more could be coming, pharmaceuticals for example,' Chaar said. Trump on Tuesday said he would announce tariffs on semiconductors and chips in the next week or so, while the U.S. would initially impose a 'small tariff' on pharmaceutical imports before increasing it substantially in a year or two. He said the U.S. was close to a trade deal with China, and he would meet his Chinese counterpart Xi Jinping before the end of the year if an agreement was struck. Brazil's government has filed a consultation request at the World Trade Organization over U.S. tariffs. In the government bond market, Treasury yields gained ground. The yield on benchmark U.S. 10-year notes rose 3.4 basis points to 4.23%, from 4.196% late on Tuesday. The yield on the benchmark German 10-year Bunds DE10YT=RR rose 0.2 basis points to 2.644%, from 2.642% late on Wednesday. Fed funds futures imply a 94% chance of a rate cut next month, with at least two cuts priced in for this year, according to the CME's FedWatch. Investors are waiting for Trump's pick to fill a coming vacancy on the Fed board of governors. Trump said the decision will be made soon, while ruling out Treasury Secretary Scott Bessent as a contender to replace current chair Jerome Powell, whose term ends in May 2026. The euro was up 0.68% at $1.1653. The dollar index, which measures the greenback against a basket of currencies, fell 0.5% to 98.24. Brent crude futures fell 75 cents, or 1.1%, to settle at $66.89 a barrel, while U.S. crude dropped 81 cents, or 1.2%, to settle at $64.35.
USA Today
3 hours ago
- USA Today
Trump could meet Putin as early as next week, reports say
President Donald Trump will meet Russian President Vladimir Putin in person as early as next week, according to multiple reports, just days after a Trump-imposed deadline on Putin to end the war in Ukraine expires. Trump will meet with Putin and then with Ukrainian President Volodymyr Zelenskyy, the New York Times first reported, adding that the plans were disclosed in a call with European leaders on July 6. The White House did not confirm the meeting, but indicated the "Russians" were pushing for a meeting. 'As President Trump said earlier today on TRUTH Social, great progress was made during Special Envoy Witkoff's meeting with President Putin," White House Press Secretary Karoline Leavitt said in a statement. "The Russians expressed their desire to meet with President Trump, and the President is open to meeting with both President Putin and President Zelensky. President Trump wants this brutal war to end.' The Washington Post also later reported that a meeting between Trump and Putin would occur. On July 28, Trump announced that he would be giving Russia 10 to 12 days to end its three-year war on Ukraine or face "stiff tariffs." That deadline falls on Aug. 8. Trump has threatened to impose "secondary tariffs" of up to 100% on countries that trade with Russia, particularly those in the energy sector. The president signed an executive order imposing an additional 25% tariff on imports from India in retaliation for the country's Russian oil imports, doubling India's U.S. tariff rate to 50%. set to go into effect Aug. 7. Trump's Aug. 6 move marks the first time the president has deployed his so-called "secondary tariffs" on Russian trading partners. Trump has grown increasingly impatient with the Russian leader since May, when he said Putin had "gone absolutely crazy" after Russia launched a barrage of 367 drones and missiles at Ukrainian cities a week after he'd had a two-hour chat with Putin, seeking an end to the war. White House envoy Steve Witkoff met Aug. 6 with Putin in Moscow in an effort by the Trump administration to convince the Russian leader to end fighting in Ukraine ahead of the deadline. Contributing: Joey Garrison, USA TODAY; Reuters
