EV battery stocks to buy as competition heats up, Bernstein says

Automakers are increasingly piling into EV battery production, but Bernstein thinks these pure-play battery stocks will continue to dominate. “Vertical integration by auto OEMs’ [original equipment manufacturer] upstream into battery production is a risk to pure play battery makers and under increased discussion given some of the investments being made by industry players,” Bernstein’s analysts, … Read more

Elon Musk called ESG a scam — did the Tesla chief do investors a favor?

Investing usually uses a combination of head, heart and gut even if it’s not supposed to. And perhaps no market theme stirs “all the feels” quite like ESG. This week, a major move to cut Tesla from a closely followed environmental, social and governance (ESG) index brought anger and relief in nearly equal measure. Defiance … Read more

Why the first autonomous vehicles winners won’t be in your driveway

An Apollo Robotaxi runs at Shougang Park as Baidu launches China’s first driverless taxi service in the city on May 2, 2021 in Beijing, China. He Luqi | Qianlong.com | Visual China Group | Getty Images For years, Alphabet’s Waymo and others leaders have promised autonomous vehicles are just around the bend. But that future … Read more

How Musk’s Twitter takeover plans shook Wall Street and social media

Elon Musk wears many hats as Tesla CEO, SpaceX CEO, and founder of the Boring Company and Neuralink. He’s also a prolific Twitter user. The news that Musk made a $44 billion offer to buy Twitter and potentially become the social media company’s CEO has sent shock waves through Wall Street and social media. “Forty-four … Read more

Electric vehicle prices rise at Tesla, Rivian, GM and other carmakers

Tesla’s Model 3 at the Tesla store in Washington, D.C. Salwan Georges | The Washington Post | Getty Images Automakers from Tesla to Rivian to Cadillac are hiking prices on their electric vehicles amid changing market conditions and rising commodity costs, specifically for key materials needed for EV batteries. Battery prices have been declining for … Read more

Nasdaq records first seven week losing streak since 2002

Trading updates are shown on monitors on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 18, 2022.  Andrew Kelly | Reuters Tech companies haven’t seen a selloff like since 2001 and the bursting of the dot-com bubble. The Nasdaq declined 3.8% this week, falling for a … Read more

Tesla stock’s very bad week gets worse after the allegations against Musk

Tesla Inc. shares were poised to close at their lowest since late July, falling more than 8% in midday trading Friday following the allegations of sexual misconduct lobbed against Chief Executive Elon Musk. Tesla TSLA, -9.91% stock is down for three straight sessions, with losses of more than 12% over that period, and is looking … Read more

Tesla boss Elon Musk blasts Biden, Democrats on Twitter

Tesla CEO Elon Musk on Friday blasted the Biden administration and Democrats on Twitter, as the world’s richest man doubled down on his vow to vote for Republicans. Musk in a tweet accused the Biden administration of doing “everything it can to sideline” and ignore Tesla, despite its dominance in the electric vehicle industry. Musk, … Read more

Musk denies ‘wild accusations’ against him in apparent reference to harassment report

SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station. NASA/Kim Shiflett SpaceX founder Elon Musk said in a tweet late Thursday that “wild accusations” … Read more

Billionaire Elon Musk says he doesn’t plan to donate to GOP super PACs in upcoming elections

Billionaire entrepreneur Elon Musk says he has no current plans to fund a Republican super PAC in the upcoming U.S. elections, including any that oppose President Joe Biden in the 2024 presidential race. The Tesla and SpaceX CEO, who is listed by Forbes as the wealthiest person in the world, told CNBC in an email … Read more