This company I have previously mentioned in this space really needed a winning quarter to get some breathing room.
No one expected them to have a positive quarter but somehow they did.
They had a big win and they all look like geniuses.
Wait until that restatement comes along next quarter.
Consumer Reports is no longer recommending Tesla’s Model S and is panning the reliability of the new Model Y
The Consumer Reports’ annual Auto Reliability Survey, released Thursday, also dropped a Toyota brand from No. 1 for the first time in 15 years, although the Japanese automaker’s vehicles maintained high reliability scores overall.
Tesla’s Model S had problems with its air suspension and main computer and touchscreen controls, according to Jake Fisher, senior director of auto testing at Consumer Reports. The Model Y had body hardware and paint problems, he said.
Consumer Reports in 2015 ranked the Model S as its top-rated vehicle ever. Now, Fisher said, “We see a variety of problems on that car. It’s wavered throughout its life cycle” as Tesla has consistently updated the Model S, which was introduced in 2012. – Source: shorturl.at/foJO6
Tesla stock to rally another 20% as investors bet on Musk, trader says
Soon-to-be S&P 500 stock Tesla has rallied nearly 500% this year.
Its run is not yet over, according to Todd Gordon, founder of TradingAnalysis.com. While the stock may now look expensive, he says the market is pricing in explosive growth for the company and the opportunity for more gains.
“If you look at the forward earnings, we’re trading 100 times next year’s earnings and granted, that’s a lot. Trust me, I understand. But I think what people are missing. … I think the pricing mechanism of the market is becoming more efficient. It’s hard to put a fundamental valuation and justify what’s happening on Tesla now because markets are getting smarter and they’re pricing the CEO and the visions of the CEO,” Gordon told CNBC’s “Trading Nation” on Thursday.
Investors are betting on Tesla’s innovations with electric vehicles and CEO Elon Musk’s private space exploration company SpaceX, Gordon added. He predicts that SpaceX’s satellite coverage and the expansion of 5G could lay way to Tesla’s domination of the driverless car market. Proof is in the charts, he said – the last two SpaceX launches unleashed gains for Tesla stock.
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