XPEV - Tesla Analysts Temper Expectations Fisker Shuts Down Shop Nikola's 30-for-1 Reverse Split And More: Biggest EV Stories Of The Week | Benzinga
Tesla, Inc. (NASDAQ:TSLA) shares rebounded this week despite analysts beginning to take down estimates ahead of second-quarter deliveries and earnings, while Henrik Fisker, the co-founder of Fisker, failed as an entrepreneur for a second time as the Ocean SUV manufacturer officially went out of business.
Here are the key events that happened in the EV space during the week:
Musk Teases Master Plan 4: Earlier this week, Tesla CEO Elon Musk said on X that the company may soon release Master Plan 4, amplifying expectations by describing it as “epic.”The announcement sent social media into a frenzy, while analysts began speculating about what might be included in the plan.
Morgan Stanley’s Adam Jonas said in a note that investors can expect anything but cars. He expects the plan to be underpinned by “Tesla's commercial ambitions in AI, robotics, hybrid computer,” including distributed thermal and computing in the car, spanning from cloud to edge. He added that the plan will likely focus on autonomy in a broader sense, not merely robotaxis, and may potentially include the Optimus humanoid robot.
On the other hand, analysts are a little nervous about Tesla’s near term. Barclays analyst Dan Levy lowered his second-quarter deliveries estimate for Tesla to 415,000 units, which is notably below the consensus estimate of 450,000 units, Barron’s reported. The analyst blamed the issue on weak European sales and only modest production increases in China. RBC Capital Markets analyst Tom Narayan reduced ...