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...Not Mike, presumably....
...That’s the danger for those that own the stock. If the auto business is worth 3 or 4 times the multiple of a Stellantis or Volkswagen, then it would get a forward PE of, say, 20x....
...Concerns over slowing EV sales growth and increased competition have also dented Tesla’s stock market valuation, which has halved since it hit $1tn in 2021....
...revenue amid a sharp fall in sales....
...This shift will have major ramifications for both the auto industry and the energy sector.”...
...The pressure is especially high in China, the world’s biggest auto market and the US EV maker’s second-largest market by sales, where competition between local EV makers and foreign carmakers is heating...
...Wells Fargo’s bank analyst Mike Mayo has a well-deserved (if not entirely unblemished) reputation for being an unusually acerbic member of the “great quarter guys!” industry....
...It was something tenable on the horizon, so was a reason to look past the current EV sales slump....
...Elon Musk’s decision to lower the price of Tesla vehicles in China in late 2022 sparked savage price cuts across the auto industry, leading to squeezed margins for both legacy multinational auto groups in...
...Jefferies chief executive Rich Handler has sold $65mn of his stock in the Wall Street investment bank to buy a luxury yacht from longtime client Tilman Fertitta....
...Analysts said the ongoing price war in China’s auto market could lead to a vicious cycle. “In the case of China, when the price is lower, people think, ‘wait a minute....
...The news outlet/hedge fund Hunterbrook, in its debut article/short sale, sent the stock of United Wholesale Mortgage down 8 per cent....
...In the year to February, it generated net sales of $1.7bn and pre-tax profit of $131.6mn....
...I mean, I think it will be a big issue in this campaign,” said Mike Sommers, API’s chief executive....
...Lotus commercial head Mike Johnstone said investors were interested in the company’s “history and heritage”, which stemmed from motor racing....
...Typically, buyout groups such as CVC will seek to own assets for between three and five years before cashing out through a sale to a peer, a strategic buyer or a stock market listing....
...Carvana had previously been a big winner of the Covid-19 pandemic used auto boom with its stock price reaching $360 a share even as it heavily burnt through cash....
...Executives are departing and the stock is down more than 41 per cent in the year to date. Still, this does not constitute a full re-rating....
...The lull in EV sales is having a damaging impact on the auto industry....
...The world’s biggest tech show is also a major auto expo, with South Korea’s Kia and Hyundai, Honda of Japan and Mercedes-Benz of Germany all taking part along with numerous suppliers....
...Cooling demand “poses a unique challenge for Tesla as it is seeing the greater slowdown is in its home (and largest) market, the US,” said Mike Tyndall, an analyst at HSBC....
...Matches also still has Aligheri stock in its warehouse, which Mahtani is now unlikely to recover, but which is continuing to be sold on the ecommerce site....
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