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Business Insider
32 minutes ago
- Business Insider
‘Take the Plunge,' Says Top Investor About Tesla Stock
Tesla (NASDAQ:TSLA) stock is something of a Rorschach test, reflecting each investor's own hopes, doubts, and fears about the company and the market. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Are you a nuts-and-bolts, blue chip investor, interested only in the fundamental metrics of established companies that you can see and feel? Or, are you more of a risk taker, ready to buy into startup visions of grandeur? Both mindsets find fertile ground in Tesla – one reason the stock elicits such a wide range of emotions. And in 2025, the tug-of-war between the two narratives has been unfolding in real time. For instance, CEO Elon Musk's falling popularity earlier this year weighed heavily on global EV sales, sending the stock lower in the first half. Yet, the mood has shifted in recent months, as investors refocus on Musk's ambitions in self-driving, AI, and robotics – areas many believe could be Tesla's next trillion-dollar growth engine. That belief is shared by top investor James Foord, who is ready to take the plunge in what he calls a 'trillion-dollar startup.' 'Tesla is no longer just an EV company – it's an AI & robotics startup in disguise,' says the 5-star investor, who is among the top 2% of TipRanks' stock pros. Foord isn't blind to the near-term challenges, from tariff concerns to the loss of the $7,500 consumer tax credit, which have pressured operating margins. But the investor argues that the real story lies in the opportunities highlighted in Tesla's Q2 2025 earnings. 'The really important news is this: Tesla rolled out robotaxi operations in Austin, posted record profits in its energy division, (and is) targeting a massive rollout of its Optimus 3 over the coming years,' Foord asserts. In Foord's view, each of these segments holds billion-dollar potential. Energy remains Tesla's 'most overlooked business,' now delivering record profits. The Cybercab project could redefine ridesharing, taxis, and even personal car ownership. And with plans to produce 1 million Optimus 3 humanoid robots in the next five years, Tesla is reaching for an entirely new frontier. Even if some of these goals fall short, Foord believes the upside justifies the gamble. 'Elon shoots for the moon, and while he often misses, he still lands somewhere no one has been before. Tesla is a wild card, but it's a bet worth taking,' concludes Foord, who rates TSLA shares a Buy. (To watch James Foord's track record, click here) Of course, not everyone shares Foord's enthusiasm. Wall Street's view on TSLA remains sharply divided, with 13 Buys, 15 Holds, and 8 Sells, giving the stock a consensus Hold (i.e., Neutral) rating. The 12-month average price target of $305.37 suggests ~7% downside from current levels (See TSLA stock forecast). To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Los Angeles Times
33 minutes ago
- Los Angeles Times
Mexican authorities accuse Adidas of cultural appropriation in sandal design
MEXICO CITY — Mexican authorities are accusing sportswear company Adidas of plagiarizing artisans in southern Mexico, alleging that a new sandal design is strikingly similar to the traditional Indigenous footwear known as huaraches. The controversy has fueled accusations of cultural appropriation by the footwear brand, with authorities saying this is not the first time traditional Mexican handicrafts have been copied. Citing these concerns, local authorities have asked Adidas to withdraw the shoe model. Mexican President Claudia Sheinbaum said Friday that Adidas was in talks with authorities in the southern Mexican state of Oaxaca to provide 'compensation for the people who were plagiarized,' and that her government was preparing legal reforms to prevent the copying of Mexican handicrafts. The design at the center of the controversy is the Oaxaca Slip-On, a sandal created by U.S. designer Willy Chavarría for Adidas Originals. The sandals feature thin leather straps braided in a style that is similar to huaraches. Instead of flat leather soles, the Adidas shoes feature a more chunky, sports shoe sole. According to Mexican authorities, Adidas' design contains elements that are part of the cultural heritage of the Zapotec Indigenous communities in Oaxaca, particularly in the town of Villa Hidalgo de Yalálag. Handicrafts are a crucial economic lifeline in Mexico, providing jobs for around half a million people across the country. The industry accounts for about 10% of the gross domestic product of states such as Oaxaca, Jalisco, Michoacán and Guerrero. For Viridiana Jarquín García, a huaraches creator and vendor in Oaxaca's capital, the Adidas shoes were a 'cheap copy' of the kind of work that Mexican artists take time and care to craft. 'The artistry is being lost. We're losing our tradition,' she said in front of her small booth of leather shoes. Authorities in Oaxaca have called for the Oaxaca Slip-On to be withdrawn and demanded a public apology from Adidas, with officials describing the design as 'cultural appropriation' that may violate Mexican law. In a public letter to Adidas leadership, Oaxaca state Gov. Salomón Jara Cruz criticized the company's design, saying that 'creative inspiration' is not a valid justification for using cultural expressions that 'provide identity to communities.' 'Culture isn't sold, it's respected,' he added. Adidas responded in a letter Friday afternoon, saying that the company 'deeply values the cultural wealth of Mexico's Indigenous people and recognizes the relevance' of the criticisms. It requested to sit down with local officials and to discuss how it can 'repair the damage' to Indigenous populations. The controversy follows years of efforts by Mexico's government and artisans to call out major global clothing brands that they say copy traditional designs. In 2021, the federal government asked manufacturers including Zara, Anthropologie and Patowl to provide a public explanation for why they copied clothing designs from Oaxaca's Indigenous communities to sell in their stores. Now, Mexican authorities say they're trying to work out stricter regulations in an effort to protect artists. But Marina Núñez, Mexico's undersecretary of cultural development, noted that they also want to establish guidelines to not deprive artists of 'the opportunity to trade or collaborate with several of these companies that have very broad commercial reach.' Sánchez writes for the Associated Press.
Los Angeles Times
6 hours ago
- Los Angeles Times
Leaving Las Vegas! Fewer Californians are visiting Sin City. Here's what the number say
If you spend any time on social media, it's hard to avoid the scorching hot takes about Las Vegas' recent financial struggles. Vegas critics say the exorbitant resort fees are brutal, the ever-increasing parking costs are punishing, the comps are few and far between — and did you notice the buffets are vanishing? In short, Vegas is on a losing streak. After fighting to bounce back from COVID-19 closures, Sin City is facing financial headwinds as fewer people, particularly Californians, are visiting, playing and ultimately spending money. My colleague Terry Castleman dived into some theories, but also, as Terry does well, dug into the numbers to tell the tale of Vegas' sudden crap out. Visits to Las Vegas were down 11.3% in June 2025 versus a year earlier, according to data from the Las Vegas Convention and Visitors Authority. Traffic on Interstate 15 at the California-Nevada border was down 4.3% over the same period, suggesting fewer visitors doing road trips from the Golden State to Vegas casinos. The number of air travelers into Las Vegas overall declined 6.3% over the previous June. In 2024, Californians made up more than a fifth of air travelers into Vegas, with nearly half of those coming from the Los Angeles metro area. A demographic report from the visitors authority estimated that Southern California provided 30% of all visitors to the city in 2024. Add it all up, and Californians could be responsible for a significant portion of the decline in Vegas tourism. Tourism within the U.S. is only part of the picture, though, as experts previously predicted we are also seeing a slump in international tourism to the U.S. The convention and visitors authority estimates that 12% of the city's visitors are international. A report from the World Travel and Tourism Council projected that the U.S. would lose $12.5 billion in international travel spending in 2025. 'While other nations are rolling out the welcome mat, the U.S. government is putting up the 'closed' sign,' Julia Simpson, the council's president, said in a statement. The report cited air-travel booking data from March that showed a 15% to 20% drop in expected travel from major tourism sources, including the United Kingdom, Germany and Canada. Visitors from Canada and Mexico made up more than half of international visitors to Las Vegas in 2024, according to data from the visitors authority. But President Trump's talk of making Canada the 51st state and his decision to hit Canada with tariffs have not endeared him to Canadian travelers. Meanwhile, media overseas have been bombarded with stories of capricious denials and detentions of travelers at U.S. border crossings. Apparently, Mexican and Canadian tourists are not feeling so welcome in the U.S. these days. 'Las Vegas thrives on tourism,' Rep. Steven Horsford wrote last week on X, 'but under the Trump slump, the numbers are tanking.' Horsford, a Democrat, represents Nevada's 4th Congressional District, which includes a portion of Las Vegas. By many metrics — including visitor totals, convention attendance and room occupancy rates — Las Vegas has not fully recovered from the onset of the pandemic. In dollar terms, however, Sin City continues to profit even as visitor numbers drop: Clark County, which includes Vegas, collected $1.16 billion in gambling revenue in June 2025, up 3.5% from a year earlier. So, Vegas' luck has not run out yet. For more, check out the full article here. Jim Rainey, staff writerDiamy Wang, homepage internIzzy Nunes, audience internKevinisha Walker, multiplatform editorAndrew J. Campa, reporterKarim Doumar, head of newsletters How can we make this newsletter more useful? Send comments to essentialcalifornia@ Check our top stories, topics and the latest articles on
