Tag TSLA

General Motors on Tuesday withdrew its previous guidance for 2023 profits and near-term electric vehicle production as costs related to the United Auto Workers strikes jumped to $200 million a week during October. GM's third-quarter net income fell 7.3% to $3.06 billion, while revenue rose 5.4% to $44.1 billion. GM shares were up 1.6% in premarket trading after the stronger-than-expected profit...

Ackman covers bond short, Tesla reveals spending plans, Bitcoin soars on ETF hopes, and other news to start your day...

General Motors on Tuesday withdrew its previous guidance for 2023 profits and near-term electric vehicle production as costs related to the United Auto Workers strikes jumped to $200 million a week during October. GM's third-quarter net income fell 7.3% to $3.06 billion, while revenues rose 5.4% to $44.1 billion. But the rising toll of the UAW strikes, the outlook for higher labor costs once a new contract is reached, rising warranty expenses and an uncertain macro-economic outlook have forced GM to abandon previous targets for full-year financial performance that it had lifted in July...

China emerges as top vehicle exporter due to growth in electric vehicles. Click here for our rundown of current happenings in the Chinese EV market...

For Tesla (NASDAQ: TSLA) investors, the future of your investment really depends on autonomous driving. After all, on the latest conference call with analysts, CEO Elon Musk said that while Tesla may look expensive for a car company, "success in this regard in the long term, I think, has the potential to make Tesla the most valuable company in the world by far." On the positive side, it appears that other large tech companies may agree with Musk, as they are each pursuing the same technology...

2023 has been another roller-coaster ride for owners of Tesla (NASDAQ: TSLA) stock. Clearly, Tesla's stock price is going through a bit of a correction, and there is no immediate catalyst to offset the downward momentum. Tesla has been the undisputed winner of the movement toward electric vehicles in the last few years, with annual vehicle deliveries surging more than fivefold from 245,506 in 2018 to 1,313,851 in 2022...

In June, Ark Invest's flagship Innovation ETF owned around 3.5 million shares of Tesla , a holding that was weighted at more than 12.5% of the fund. Ark Innovation went on to sell millions of dollars worth of Tesla stock throughout September, a theme that has persisted into October. Despite Ark Invest's ultra-bullish standpoint on Tesla, and despite the firm's apparent effort to keep its Tesla holding contained at around 10% of the fund, Ark has sold nearly a million Tesla shares over the past several months, cutting its exposure down in the leadup to a lackluster third-quarter earnings report...

After lackluster Q3 results last week, let's see if the recent dip in Tesla's (TSLA) stock is a buying opportunity...