Latest news with #TSLA
Miami Herald
4 hours ago
- Automotive
- Miami Herald
Tesla's robotaxi rollout is alarming the public, new report shows
As the calendar turns to June, many people are focused on a key event that Elon Musk has been touting all year: the Tesla (TSLA) robotaxi rollout. After a volatile and complicated start to the year, marked by a disappointing earnings report and declining sales across multiple key markets, the electric vehicle (EV) producer has put investors through many motions. This prompted investors and analysts to call for Musk to refocus his energy on the company. Don't miss the move: Subscribe to TheStreet's free daily newsletter Now the CEO seems to be doing that, after announcing he will be ceasing his work with the Department of Government Efficiency (DOGE) and returning to his responsibilities at Tesla and SpaceX. This comes at a pivotal time, as the automaker prepares to roll out its self-driving robotaxi fleet in Austin, Texas. Despite the positive momentum surrounding this key event, though, a recent report shows that public perception toward Tesla's new technology isn't positive. The rise of self-driving vehicles has become a defining trend over the past few years, as companies like Tesla and Waymo have worked to outmaneuver each other. While the latter has already established a presence in several major U.S. cities, Elon Musk has made sure the world knows Tesla's launch is coming soon. Related: Analyst sets eye-popping Tesla stock price target A true master of hype, Musk has successfully kept the nation's focus on Tesla's historic event, making it clear that it is proceeding as planned. However, a market research initiative that tracks consumer sentiment toward EVs recently published a detailed report with some statistics that may concern Musk. In the May 2025 edition of the Electric Vehicle Intelligence Report (EVIR), its authors highlight some potential problems both for Tesla and any automakers seeking to venture into the autonomous driving space. However, much of the negative sentiment seems to center on Tesla. It adds, though, that younger, higher-income individuals who live in urban areas are more open to autonomous driving technology than other groups. Those are the type of consumers Musk is likely targeting with the new robotaxi fleet. Even so, the authors also flag another concerning element for Tesla. They note that the former EV leader has been declining in areas such as brand positivity and trust but add that its rivals, such as Lucid and Rivian, have recently made progress in these areas, indicating that consumers are increasingly shifting away from Tesla. More Tesla News: Billionaire fund manager dumps Tesla in favor of other tech stockElon Musk, Tesla send bold message to Washington, DCElon Musk's robotaxi ambitions hit with major roadblock Other experts have also raised concerns regarding Tesla's robotaxi launch. TheStreet's Tony Owusu reports that Wall Street analyst Alexander Pots of Piper Sandler has speculated that the company's FSD technology isn't advanced enough to handle the challenges that the launch will pose. With the robotaxi launch drawing closer by the day, investors and consumers are watching closely to see how the event will turn out. Musk has described himself as being "extremely paranoid" about it, even after Tesla reported that its FSD system has almost tripled the cumulative miles it has driven over the past year. Related: Fund manager has shocking Elon Musk and Tesla prediction Evan Roth Smith, head of research for the EVIR, spoke to TheStreet about the report's statistics and their potential implications for Tesla and Musk. While he sees damage to the brand's reputation as a likely problem, he states: As Roth Smith sees it, Tesla is likely facing an uphill battle as it bets big on robotaxis. The report's data makes it clear that many consumers don't trust the technology behind them and therefore aren't likely to embrace it, which could severely compromise Tesla's growth prospects. Related: Tesla decision reveals a major demand problem The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Insider
20 hours ago
- Business
- Business Insider
Residents of Musk's SpaceX Town Receive a Warning about Their Rights
Some residents of Starbase, Texas, the town built around Elon Musk's SpaceX, were told that they may lose the right to use their property the same way they do now. This comes as the town considers a new zoning plan that would allow homes, offices, stores, and small service businesses in a proposed 'Mixed Use District.' As a result, a public hearing is scheduled for June 23 to discuss the changes. Interestingly, Starbase became an official town earlier this month after a local vote that was supported by SpaceX. Confident Investing Starts Here: It is now run by officials who either currently or previously worked for the company, and most of the town's 500 residents either work for SpaceX or are related to employees. The town also includes a 1.6-square-mile launch site where SpaceX tests its huge Starship rockets. By becoming its own city, Starbase gives SpaceX more freedom to build, test, and launch rockets without much outside interference. SpaceX is also pushing to close roads and beaches during launches without needing special approval. It is worth noting that Musk's goal for Starship is to send people and equipment to the Moon and, one day, to Mars. Since 2008, SpaceX has received more than $20 billion in government contracts and is expected to keep getting billions more each year. In addition, after the ninth Starship test ended in an explosion this week, Elon Musk said the focus would be on learning from the failure. What Is the Prediction for Tesla Stock? When it comes to Elon Musk's companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 16 Buys, 10 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $282.70 per share implies 18.9% downside risk.
Business Insider
20 hours ago
- Business
- Business Insider
NVDA, TSLA, GOOGL: U.S. Stocks Post Best May Performance Since 1990
There's a saying on Wall Street called 'sell in May and go away' that refers to the tendency for equities to decline during the month. But not this year. Confident Investing Starts Here: As May 2025 draws to a close, the S&P 500 index is on pace for its best monthly performance since 2023. The benchmark index is also on track for its biggest gains during the month of May since 1990, according to Dow Jones Market Data. On the last trading day of the month, the S&P 500 is up 6% this May after plunging nearly 20% in April as U.S. President Donald Trump unveiled his tariff policies. Other U.S. indices also registered strong gains during May 2025, with the Nasdaq Composite index gaining nearly 10% as major technology names such as Nvidia (NVDA), Tesla (TSLA), and Alphabet (GOOGL) rebounded strongly from their April lows. NVDA and TSLA stocks each rose more than 20% in the month. The blue-chip Dow Jones Industrial Average increased 4% in May of this year. For U.S. equities, May has represented a big turnaround after the S&P 500 declined for three consecutive months. As President Trump eased many of his tariffs and entered into trade negotiations with different countries, including China, it has injected renewed confidence into the markets, say analysts. At the same time, economic data out of the U.S. has remained strong and showed signs of resilience. On May 30, the last trading day of the month, data showed that U.S. inflation declined to an annualized rate of 2.1% in April, lower than the consensus expectation of economists. Is GOOGL Stock a Buy? The stock of Alphabet has a consensus Strong Buy rating among 38 Wall Street analysts. That rating is based on 29 Buy and nine Hold recommendations issued in the last three months. The average GOOGL price target of $199.14 implies 17.31% upside from current levels.
Business Insider
20 hours ago
- Automotive
- Business Insider
Trump Says He'll Speak to China President Xi after Trade Violation Accusation
Following his accusation this morning that China violated its preliminary trade deal with the U.S., President Trump reiterated the statement in the Oval Office during a press conference with Tesla (TSLA) CEO Elon Musk. Additionally, Trump said that he will speak with China President Xi Jinping, adding that 'Hopefully we'll work that out.' Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter U.S.-China Trade Tensions Rise Trump's comments come as trade tensions rise between the two world powers. Trump's initial accusation did not specify how China violated the agreement, although U.S. Trade Representative Jamieson Greer said that the country was moving too slowly in removing tariff countermeasures and opening up its flow of critical rare earth minerals. Furthermore, the U.S. could soon impose sanctions on subsidiaries of Chinese technology companies included in the Entity List, per Bloomberg. The list consists of foreign companies that the U.S. deems a threat to national security.
Globe and Mail
a day ago
- Business
- Globe and Mail
'Golden Age..of Robotaxis' Starts June 12: Tesla Stock (NASDAQ:TSLA) Notches Up
The 'golden age of robotaxis.' While this is kind of a mixed blessing for most, who like the thought of self-driving cars but would rather own one than borrow one, the idea that we are getting to a point where our cars will simply take us where we want to go is approaching. And at electric vehicle giant Tesla (TSLA), we are finally getting there. CEO Elon Musk is mostly back in place, and Tesla shares responded accordingly, up modestly in Thursday afternoon's trading. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter June 12 will mark the official launch date for robotaxi service in Austin, reports noted, though that date could change the closer it gets to being reality. It is already a stepped-up timetable; Elon Musk originally noted that the expected start date was late June. In fact, Musk himself noted that driverless Model Y Teslas have been roaming the streets of Austin, and no one knew. Why? Because there were 'no incidents' to report, thus making it as if the driverless cars were all being driven by humans anyway. In fact, reports noted, Tesla will see the first 'self-delivery' of a car from the factory to a customer sometime in June as well. The notion that cars could deliver themselves is exciting, and potentially represents some cost savings not only for Tesla but for others in the field. Not Everyone is Convinced In what may have been a surprise blow to Tesla sentiment, Gary Black, analyst with The Future Fund, revealed that the fund had sold off its entire Tesla holdings. This marked the first time since 2021, reports noted, that The Future Fund has not held a position in Tesla. So what prompted the sudden sea change? For the most part, it seems to have little to do with politics and more to do with sheer fundamentals. Black expressed concern over expected delivery quantities, Tesla's current price-to-earnings ratio, and a set of other 'near-term projects' that Black does not look to pan out the way others believe. Black noted that Tesla's P/E ratio currently runs at 188 times, and with earnings estimates still in decline, that suggests a potentially serious negative outcome to follow. Is Tesla a Buy, Hold or Sell? Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 16 Buys, 10 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. After a 99.62% rally in its share price over the past year, the average TSLA price target of $282.70 per share implies 21.8% downside risk. See more TSLA analyst ratings Disclosure Disclaimer & Disclosure Report an Issue
