Tesla's sales in Europe have dropped by 42% this year, per a leading car lobbying group. Elon Musk's EV maker sold just under 27,000 vehicles, down from more than 46,000 last year.
Tesla's NASDAQ: TSLA stock is under pressure because its CEO is busy down-sizing the U.S. government while its business faces numerous headwinds. Not only are the policies he supports and enforces detrimental to the EV market, but he's alienating his customers.
Scott Acheychek, CEO of Rex Financial, discusses Tesla's volatility, political ties, and future in AI and robotics. He highlights its dual nature as a long-term play and a day-trading favorite.
Ark Investment Management, which was founded by prolific technology investor Cathie Wood, thinks the autonomous ride-hailing industry could generate $14 trillion in enterprise value by 2027. Tesla (TSLA 11.78%) is a leading developer of self-driving technologies, and its new Cybercab robotaxi -- which will be able to haul passengers with no human input -- could hit American roads as soon as this year.
In this week's video, I cover need-to-know news about Tesla (TSLA 11.78%) from the week of March 17. Watch the short video to learn more, consider subscribing, and click the special offer link below.
Earlier this month, standing on the White House driveway, President Donald Trump hawked a fleet of gleaming Teslas with the kind of gusto normally reserved for his campaign rallies. Clutching handwritten notes about prices and models, he said, "I'm going to buy one because it's a great product, as good as it gets.
After a rough start to the year, Tesla (TSLA 11.78%) stock is suddenly bouncing back. As of this writing, the growth stock has risen more than 20% from lows last week.
Tesla's sales have fallen in 10 of the last 12 months in Europe. The Elon Musk-led company registered 16,888 new cars in February, down 40% from a year ago, according to the European Automobile Manufacturers' Association.
New car registrations fell 47% despite an overall increase in demand for electric vehicles at other carmakers.
Tesla stock price has bounced back in the past few days. It has risen from this month's low of $218 this month to a high of $278, its highest point since March 17.
Tesla's market share in Europe continued to shrink year-on-year in February, data showed on Tuesday, as sales of the all-electric car maker dropped for a second consecutive month despite rising overall EV registrations on the continent.
Cathie Wood, the founder, CEO and chief investment officer of ARK Investment Management, maintains her bet that Tesla's stock will reach $2,600 despite concerns about economic headwinds and "noise" around Elon Musk's role in the Trump administration. She also talks about EV competition with BYD, investment opportunities in China and how investors are seeing a more deregulated environment in the US.