Tesla

Ticker TSLA

Today's data summary

Market closed
% change
+0.80%
Price US dollars
223.64
Change
+1.78
As of 02:20 25 Jun 2019
Market cap. US dollars
38,151.45 million
As of 02:20 25 Jun 2019

Latest updates

Tesla's 'record quarter'

car
Getty Images

Elon Musk, chief executive of Tesla, has told shareholders in the electric carmaker he founded that the company has "a decent shot at a record quarter on every level".

He was speaking at the annual general meeting yesterday - and helped the shares rise 3.6% to $225 in after hours trading.

"It's hard to be profitable with a high growth rate," Mr Musk said, after the business lost $702m (£550m) in the first quarter.

For the second quarter it has said it plans to deliver 90,000 to 100,000 vehicles to customers in the second quarter versus 63,000 vehicles in the first.

Tesla share jump as firm heads for record quarterly deliveries

Tesla Model 3
Getty Images

Tesla is on course to exceed its record for quarterly deliveries in the second quarter, beating the 90,700 it sent to customers in the final quarter of last year, according to an email from chief executive Elon Musk to staff.

Mr Musk's email also said the company had on average produced 900 Model 3 cars per day this week, bringing it closer to its target of 7,000 per week.

Tesla shares, down for six consecutive sessions as Wall Street worried over the company's future and ability to keep investing, were up more than 2% after trading down about 2.5%.

Tesla's unusual hiring methods

Elon Musk
Twitter

Elon Musk is well known for running his company rather differently to most founders, but it's worked out well for Adam Koszary, the social media strategist behind The Museum of English Rural Life's Twitter account.

After he posted a picture of "an absolute unit" of a sheep to his work Twitter account, it was picked up by Mr Musk who has now hired Mr Koszary as the social media manager for his car company Tesla.

Read more here

Wall Street opens lower

Little Girl statue standing in front of the New York Stock Exchange
Getty Images

Wall Street shares have opened much lower, with the Nasdaq down 1.7% at the start of trading, after Google announced it was restricting Huawei's use of its flagship Android smartphone operating system, which means future phones will lose access to some Google apps.

The Dow Jones Industrial Average is 150 points or 0.6% down to 25,614.36. Top of the losers is mining giant Caterpillar, which has fallen 3% to $122.76 on continued US-China trade war fears.

The S&P 500 has slipped 19 points or 0.7% to 2,840.46. US chipset manufacturer Qualcomm heads the losers, sliding 4.8% to $77.62 after joining Google in cutting off supplies to Huawei.

And finally, the tech-heavy Nasdaq dropped 1.7% on open but is now recovering. It is now 103 points or 1.3% lower to 7,713.21.

Top of the losers is electric carmaker Tesla, which has dropped 6.8% to $196.60 after an analyst from Wedbush cut its guidance on the firm and said that Tesla should be focusing on producing more Model 3 cars, instead of expanding into robotaxis and "other sci-fi projects".

Questions over demand for Teslas

Tesla Model 3
Getty Images

It might be worth keeping an eye on shares in Tesla when they start trading at 14:30 BST.

Pre-market trading is indicating a fall of more than 4%.

It follows negative comments from analysts at Wedbush Securities who have cut their target for Tesla shares by $45 to $230 each.

The analysts question Tesla's estimate of demand for its new Model 3 cars. Tesla sees sales of up to 400,000 this year. But analysts at Webbush say between 360,000 and 370,000 is a more realistic target.

The research report also says Tesla should be focusing on its core car business and not expand into insurance and robotaxis.

Tesla gets it money

car
AFP

Electric carmaker Tesla says its $2.7bn (£2bn) offering of stock and bonds was over-subscribed.

It sold $860m in shares and $1.8bn in debt and now has the cash it needs to boost production.