Tesla Shares fell due to a bad news from China

News

Tesla Shares fell due to a bad news from China

27.08.2020 News

Shares of Tesla closed on Monday with a fall of 1.44%, continuing to decline on Tuesday, their price is now below $ 2000.

This situation was preceded by a Bloomberg publication on reducing the number of registrations of Tesla, electric cars made in China. Tesla did not confirm the information; in its reports the company does not publish the number of electric cars sold in China.

An indirect confirmation of information may be that the world’s largest manufacturer and supplier of lithium Tesla Ganfeng Lithium Chinese company on Tuesday reported that for the first six months of 2020 its profits fell by almost half.

Supported data of China Automobile News Agency from government shows, that the number of registrations of Tesla cars made in China in July decreased by 24% compared to the previous month. Last month, China produced and registered 11,456 Tesla cars.

Tesla began deliveries of vehicles produced at its plant near Shanghai earlier this year. According to the company’s management, the production rates at the Chinese plant is growing faster than planned.

China car market recovers from the recession, which lasted about two years. Even when the Chinese car market was experiencing difficulties, Tesla’s sales in the country until July showed good results. Tesla reported sales of May in China almost three times higher than in April.

Wedbush`s analyst Daniel Ives has raised his target price for Tesla shares to $ 1,900, as he believes that the demand for electric cars in China began to rise in July and August, and Tesla competes with both local and international competitors for market share in the country. He called the Chinese Gigafactory 3 “the core of success” of Tesla.

Ives also believes that lower company prices could stimulate demand in both China and the United States, and expects that Tesla announced the development of several batteries that are “game changer” in the future “Days batteries”, which is designed for 22 of September.

One of such announcement could be a million-mile battery, which will allow electric cars to compete alongside gasoline cars.

Other articles

  • Musk promises that the Tesla plant near Berlin will become the world’s largest battery manufacturer
    News

    Musk promises that the Tesla plant near Berlin will become the world’s largest battery manufacturer

    Tesla CEO Elon Musk wants to turn the Tesla plant near Berlin into the world’s largest factory for the production of batteries for electric vehicles. The businessman stated this on Tuesday, November 24, speaking via video link at the European Conference of Battery Manufacturers. The plant near Berlin will be one of a kind as […]

  • Tesla’s value rose above $ 500 billion
    News

    Tesla’s value rose above $ 500 billion

    Shares of US electric car manufacturer Tesla continue to rise sharply amid news of the company’s future accession to the S&P index. On Tuesday, November 24, the market value of Elon Musk’s company crossed the $ 500 billion mark for the first time. Tesla shares are said to have risen nearly 550 percent this year, […]

  • Lincoln introduced the Nautilus hatchback
    News

    Lincoln introduced the Nautilus hatchback

    Automaker Lincoln Motor Company has introduced a new car Lincoln Nautilus. The basic version of the car has a 2-liter turbo engine with a capacity of 250 horsepower. The more powerful version is equipped with a 2.7-liter twin-turbocharged V6 engine with 335 hp. Both models have standard 8-speed automatic transmission. The interior of the car […]

  • Volvo was dropped from a height of 30 meters
    News

    Volvo was dropped from a height of 30 meters

    Volvo dropped several cars from a height of 30 meters for crash tests. According to the automaker, such tests are very important for training rescue services. Volvo lifted the cars to a height of 30 meters with a crane, and then smashed them several times. Such a test allowed to simulate damage to cars at […]

  • Volkswagen is to invest $ 75 billion in “technology of the future”
    News

    Volkswagen is to invest $ 75 billion in “technology of the future”

    German automaker Volkswagen will invest about 73 billion euros over the next five years in electrification, hybrid powertrains and digital technology, the company said in a statement following a meeting of the supervisory board. In particular, about 35 billion euros are planned to be spent on electric cars on battery power, about 11 billion – […]

  • Tesla has tripled insurance payments to Elon Musk
    News

    Tesla has tripled insurance payments to Elon Musk

    Tesla Inc. paid its chairman and founder, Elon Musk, $ 3 million in compensation for D&O insurance to defend, settle disputes, or make court decisions. This was reported by Insurance Business. This insurance covers the expenses of the members of the board of directors, which are not included in the general expenses of the top […]

  • Zoom Video launches new end-to-end encryption for users around the world
    News

    Zoom Video launches new end-to-end encryption for users around the world

    Shares of Zoom Video Communications, which rose 716% over the past 12 months, rose 5.8% during trading on Monday, but closed with an increase of 1.23%. This is very different from the general decline in the market on Monday – major US stock indexes closed lower: the S&P 500 by 1.86%, the Dow Jones by […]

  • Tesla began supplying Model 3 Chinese sedans to Europe
    News

    Tesla began supplying Model 3 Chinese sedans to Europe

    Tesla Inc. of Elon Musk will export Model 3 electric cars made in China to Europe. This was reported by the Interfax-Ukraine news agency with reference to the company’s statement. The first batch of 7,000 cars will be shipped from the port of Shanghai on October 27. They are expected to reach the Belgian port […]

Read also

Tesla Shares fell due to a bad news from China
News

Polish gas company PGNiG has appointed a new chairman

The Polish oil and gas company PGNiG has appointed Pavlo Majewski chairman of the board. The previous chairman, Jerzy Kwieciński, worked for less than a year. “The company’s supervisory board has decided to appoint Pavlo Majewski as the chairman of the board of PGNiG from November 12, 2020 for a term until January 10, 2023”. […]

Next
Tesla Shares fell due to a bad news from China
News

The Dow Jones index exceeded 30,000 points for the first time in history

The Dow Jones and S&P 500 stocks hit record highs on Tuesday, November 24 amid official news of the transfer of power in the United States and progress in the development of coronavirus vaccines. In particular, the Dow Jones industrial index rose by 1.5% and for the first time in history exceeded 30,000 points. According […]

Next
Tesla Shares fell due to a bad news from China
News

Experts predict a low oil price in September

The price of oil in September will remain low, perhaps even a slight decrease from current levels below $ 40 per barrel. In October, the downward trend is likely to be interrupted and a gradual growth will begin, which will accelerate in November and December, according to TASS experts. “There will be no serious drop […]

Next
Tesla Shares fell due to a bad news from China
Analytics

Realities and prospects of the real estate market of Ukraine

Ukraine’s real estate market throughout 2017 experienced the impact of both economic and political crisis phenomena, under pressure from the economic downturn and lower purchasing power of the population. Despite all the negative trends, construction statistics in the period 2017 recorded positive results, which are confirmed by such an authoritative world ranking of Doing Business […]

Next
Tesla Shares fell due to a bad news from China
News

Lyft announces a resumption of travel and expects profits by the end of 2021

Shares of Lyft, which fell 16.2% since the beginning of the year but jumped 37.4% over the past week, rose 5.8% amid investor reaction to the company’s quarterly report. Lyft reported a loss for the third quarter (ended September 30) at $ 1.46, which is worse than analysts’ forecasts at – $ 0.91 loss per […]

Next
Tesla Shares fell due to a bad news from China
News

Huge corruption scandal in the biggest Brazilian investment bank BTG Pactual Group

Last week, on Wednesday, November 25, 2015 Andre Esteves, the founder of the Brazilian investment bank BTG Pactual, was taken into custody in the framework of an extensive investigation of bribery. It is known that large Brazilian construction firms are involved  into the scandal and another defendant is a state oil company Petroleo Brasileiro SA. […]

Next
Tesla Shares fell due to a bad news from China
Analytics

Sweden is a country with a dynamic economy

Everyone has heard about Sweden from childhood, as it was Stockholm where the well-known fairytale heroes The Kid and Carlson lived. Let’s add here favorite of all IKEA, the band ABBA, cars of Volvo and Scania, companies like Spotify, Ericsson, H&M, Electrolux and μTorrent – the vision of the nation is made up of pieces.  […]

Next
Tesla Shares fell due to a bad news from China
News

Tencent has offered $ 1.5 billion for video game developer Leyou Technologies

Chinese internet giant Tencent Holdings has made an offer to buy Leyou Technologies Holdings, which estimates this video game developer at 11.61 billion Hong Kong dollars ($ 1.5 billion), writes The Wall Street Journal. Tencent plans to pay for the full transaction with money, without attracting outside funding, and is willing to pay $ 3.3219 […]

Next
Tesla Shares fell due to a bad news from China
News

Samsung will build the world’s largest pharmaceutical plant for $ 2 billion

South Korean Samsung continues to expand its pharmaceutical business, investing nearly $ 2 billion in the construction of plant for the production of medicines, which should become the largest of its kind in the world after the completion of works in 2022. According to The Wall Street Journal, the company is betting on further growth […]

Next
Tesla Shares fell due to a bad news from China
News

The international manufacturer of raw materials for confectionary industry built a plant in Ukraine

The international manufacturer of goods  and raw materials in the bakery, patisserie and chocolate sectors Puratos built a plant in Odessa region. “Puratos will launch its own production of ingredients for the baking and confectionery industry in the Odessa region “, – said in the statement. The business of the company focused on meeting the […]

Next
Tesla Shares fell due to a bad news from China
News

Information on the COVID-2019 quarantine

An emergency situation due to the coronavirus has been declared in Ukraine. Probably a lot of people still do not have a full understanding of what it is and what restrictions have been imposed for the society and business. We asked S&P Investment Risk Management Agency to explain everything in detail. All the details are […]

Next
Tesla Shares fell due to a bad news from China
News

China Companies decide to build a solar power in Chernobyl

According to an information of Reuters, Two large Chinese companies plan to construct a solar power station with a capacity of 1 gigawatt in the Chernobyl . For project implementation, the GCL System Integration Technology company intends to get a business  with the China National Complete Engineering Corporation (CNCEC). CNCEC was founded in 1985. in […]

Next
Tesla Shares fell due to a bad news from China
News

The new owner of Boguslavskiy zavod prodtovariv and fish processing plant Vohni Hestii will be Fozzy Group

One of the biggest Ukrainian trade and industrial groups Fozzy Group, which is a part of PJSC Holding Invest (Kyiv), has received permission from the Antimonopoly Committee for the purchase of Boguslavskii zavod prodtovariv (Kyiv region, city Bohuslav) and a plant for fish processing Vohni hestii (legal address – Kyiv, physical address – Zhytomyr). This […]

Next
Tesla Shares fell due to a bad news from China
News

IPO Snowflake has become the largest in the history of IPO software

After a sensational debut Snowflake on the NYSE on Wednesday, shares of the cloud storage and processing company are expected to fall ahead of trading on Thursday. Shares of Snowflake fell to 4.3%. Snowflake brought 28 million shares to the public market to raise $ 3.36 billion during the largest software IPO in history. Shares […]

Next
Tesla Shares fell due to a bad news from China
News

The main state-owned companies of Ukraine will have observers

By the end of this year, the ministry is going to form all the Supervisory Boards. Ministry of Economic Development and Trade (MEDT) plans to appoint the independent Supervisory boards for the 15 largest public companies in Ukraine before the end of this year. This was reported by Yulia Kovalev, Deputy Minister. “The Ministry of […]

Next
Tesla Shares fell due to a bad news from China
News

Antimonopoly Committee of Ukraine gave the permission for the merger of Ukraine-Agro A / S and the Russian Pig Meat A / S

The Danish company will combine its assets in Ukraine and Russia. It is reported by “ProAgro”. Antimonopoly Committee of Ukraine (AMC) gave the permission for the merger of Ukraine-Agro A / S and the Russian Pig Meat A / S (both – Holstebro, the Kingdom of Denmark). According to the resolution of the Antimonopoly Committee, […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com