As Feder continues to tighten policies, U.S. growth stocks represented by Tras suffered a severe impact. In just one year, the share price of Tesla has fallen by 50% from its historical high, its market value evaporated by more than 4.7 trillion yuan, and Musk's shareholding has shrunk by more than one trillion yuan.
However, the "darkest moment" waiting for Tesla may not have arrived yet. JPMorgan Chase expects US stocks to fall another 20%. What will happen to Tesla's stock price by then?
German battery production was suspended, and Tesla's stock price fell 7.55%
According to the German Business Daily on October 14, citing experts, Tesla has suspended its battery production plan at its Greenhead factory outside Berlin, Germany due to technical problems. Currently, only electrode research has been retained here. All machines used to wrap, assemble and format the remaining production steps of battery cells will be transferred to the Austin factory in Texas, USA.
reported that Tesla CEO Musk still hopes to establish battery production in Germany for a long time. However, five experts say that test plants using dry electrode technology currently have problems with mass production, and Tesla's battery production in Germany will be delayed until at least 2024.
Affected by this news, Tesla's stock price fell 7.55% on Friday to US$204.99, a new low since June last year, and more than half of the all-time high of US$414.5 in October last year, with a market value of US$655.2 billion (approximately RMB 471.14 billion) in one year.
As the stock price plummeted, Tesla CEO O Elon Musk (Elon Musk )'s holdings shrank by more than half. According to Tesla shareholders' shareholding data, Musk holds 265 million shares, accounting for 23.5%. Since its high in October last year, Musk's shareholding market value has shrunk by 1.1 trillion yuan.
The third quarter sales data were lower than expected
From the perspective of fundamental , Tesla is facing a series of difficulties: due to logistics problems, the company's car delivery in the third quarter was affected. Wall Street analysts warn that the rise in Tesla's car price may put pressure on demand at some point; like almost all other automakers around the world, Tesla also needs to deal with supply shortages and soaring raw material costs.
On October 9, Tesla released its report card for delivery in the third quarter of 2022. The data showed that Tesla produced 365,900 new cars in the third quarter, and increased by 53.87% year-on-year; the total number of new cars sold was 343,800, a year-on-year increase of 42.48%. Although quarterly delivery data hit a new high, during the same period, BYD sold nearly 540,000 vehicles, exceeding Tesla's nearly 200,000 vehicles.
After Tesla released lower-than-expected third-quarter sales data, Morgan Stanley lowered Tesla's annual delivery forecast from 1.37 million vehicles to 1.31 million vehicles, and reduced its 2023 forecast from 2 million to 1.8 million vehicles.
Tesla will release its third-quarter financial report on October 19. Before the financial report was released, Colin Langan, an analyst at Wells Fargo , lowered Tesla's target price from $280 per share to $230 per share. Langan warned that while production of more batteries in the U.S. could help Tesla get the extra tax break provided by the Inflation Cut Act (IRA), the economic outlook and continued climbing interest rates could put huge downward pressure on the company.
Musk is under investigation by the US government! As the stock price of
continues to fall, the market is also speculating whether Musk will buy back to support the stock price.
Musk also responded to the repurchase rumors. Earlier this month, Max responded "noted" when leaving a message on social media to suggest company buybacks.
But for Musk, buying back stocks may not be the most urgent matter, and he is facing increasing pressure from Twitter .
According to Xinhua News Agency , in a court document published on the 13th, the US social media Twitter company disclosed that the world's richest man Elon Musk is under investigation by US federal agencies for the acquisition of Twitter.
Reuters reported, citing court documents that Twitter had asked Musk's lawyers to hand over some of the documents they submitted to federal agencies for months, but Musk did not cooperate. So Twitter asked a judge to order Musk to hand over the documents.
As early as May this year, The U.S. Securities and Exchange Commission (SEC) and the U.S. Federal Trade Commission (FTC) launched an investigation into Musk. Musk publicly stated on April 4 that he had acquired more than 9% of Twitter's shares, becoming one of the company's largest shareholders. According to regulations, when an investor purchases more than 5% of a company's shares, he must submit a form to the SEC for disclosure information, but Musk submitted at least 10 days later than the specified time and submitted a form usually prepared for passive investors.
In the Twitter acquisition case, Delaware Justice kathleen McCormick has issued an order requiring both parties to complete the transaction before 5 pm on October 28, otherwise the trial will be restarted in November.
Painting Pie Master Musk
The former Iron Man Musk seems to be gradually losing his glory.
Today, Musk is increasingly liking to gain attention through public opinion. Musk is definitely one of the few big shots in history who likes to make comments on social media to attract attention. For example, he changes his mind to acquire Twitter, saying that he wants to colonize Mars himself, threatens to continue having children, and even judge certain sensitive political issues.
On October 1, Beijing time, on the 2022 Tesla Artificial Intelligence (AI) day, the prototype of Tesla humanoid robot was unveiled by Musk, codenamed Optimus Optimus. According to Musk, people can order Optimus Prime robots in three to five years, and the price is expected to be less than $20,000, which will be cheaper than cars.
From the on-site press conference, Tesla showed the internal structure of Optimus Prime, with all motors, cables, etc. exposed, and the audience can clearly see the operation of the robot. Optimus Prime is 1.72 meters tall and weighs 73 kilograms. It can complete squatting, moving boxes, and grab objects.
Some industry insiders said: "Just judging from the information revealed at the current press conference, we can't see where the competitive advantage of this robot is. Musk himself has always claimed that Optimus Prime can do much more than it showed at the press conference, but he always likes Painting Pie ."
However, in the week after Optimus Prime's release, Tesla's stock price plummeted by nearly 16%, setting the worst single-week performance since March 2020. The sharp decline in market value reflects investors' disappointment with Optimus Prime to a certain extent.
Tesla's "darkest moment"?
According to CCTV News client, on October 13 local time, according to data from the U.S. Department of Labor, the U.S. Consumer Price Index (CPI) increased by 0.4% month-on-month in September this year and 8.2% year-on-year. US inflation has once again exploded, the Federal Reserve continues to tighten its policies, and US growth stocks represented by Tras are suffering severe shocks.
According to S&P Global , the risk of long-term inflation and global recession is rising, and the Federal Reserve may raise the federal funds rate to at least 5%-5.25% in the middle of next year and may remain "high" for a longer period of time compared to current expectations. Analysts from the agency warned that this could cause the stock market to plummet 14.5% by mid-2023.
S&P global analysts said, "The possibility of continued inflation rise and low economic growth is increasing. If the Fed's continued efforts to curb inflation fail, the U.S. economy may face a hard landing, and a currency tightening beyond the current forecast could lead to a more severe recession than expected."
's continued high inflation data suggests that the Fed will launch a massive hike in hikes again. Wall Street experts warn that this could lead to a severe recession and bring more resistance to the stock market.
JPMorgan CEO Jamie Dimon predicted last week that the recession will arrive in six to nine months and the stock market may fall another 20%.Others predict a more serious economic decline, and Nouriel Roubini, a top economist known as the Doctor of Doomsday, warned that there will be stagflation and a debt crisis, with U.S. stocks falling 40%.
Now, Tesla's stock price has been halved. If the US stock market falls by 20%, is it the "darkest moment" waiting for Tesla again? Let's wait and see.
