Short interest for Tesla gives investors a sense of the degree to which investors are betting on the decline of Tesla's stock. Short interest data is updated every two weeks.

Tesla Stock (NASDAQ:TSLA), Short Interest Report

Tesla

Tesla is a vertically integrated battery electric vehicle automaker and developer of autonomous driving software. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi-truck. Tesla also plans to begin selling more affordable vehicles, and a sports car. Global deliveries in 2023 were a little over 1.8 million vehicles. The company also sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network.

Tesla Gigafactory. Photo by JHVEPhoto on Shutterstock

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Tesla Inc (NASDAQ:TSLA) faces mounting legal woes as an environmental nonprofit, the Environmental Democracy Project, files a lawsuit alleging violations of the Clean Air Act. The suit accuses Tesla&#39;s Fremont plant of emitting harmful pollutants, endangering residents and workers. With potential fines of up to $121,275 per day per violation, Tesla&#39;s regulatory challenges escalate amid increased scrutiny over its environmental practices.

Tesla Sued In California For Environmental Violations

Tesla in China

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Tesla faces heated tensions as Swedish union sparks showdown over collective bargaining, escalating labor disputes, while TSLA shares rise.

Tesla Versus Swedish Union Sparks Showdown Over Collective Bargaining

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President Biden announces new tariffs on Chinese goods to protect American economy and domestic jobs. Also aims to counteract subsidized production.

Biden Announces Massive Tariffs On Chinese Imports To Protect US Industries: Clean Energy, Solar Stocks Rally

Tesla Inc

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;is embroiled&nbsp;in legal trouble. An environmental nonprofit accuses the electric car giant, led by&nbsp;Elon Musk, of repeatedly breaching the federal Clean Air Act.&nbsp;
The lawsuit, filed by the&nbsp;Environmental Democracy Project, alleges that Tesla's Fremont, California, plant has been emitting harmful pollutants, including nitrogen oxides and arsenic, since January 2021, endangering nearby residents and workers.
According to a report from Reuters, the Environmental Democracy Project seeks an injunction to stop the excess pollution and civil fines of up to $121,275 per day per violation of the Clean Air Act, intensifying Tesla's legal woes.
Tesla faces increasing regulatory scrutiny over its environmental practices. The Bay Area Air Quality Management District has urged an independent hearing board to compel Tesla to curb emissions from its paint shop operations, citing frequent breakdowns in the emissions abatement system.
This lawsuit adds to Tesla's history of legal challenges. In February, the company agreed to a $1.5 million settlement for mishandling hazardous waste at multiple locations across California.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38762667/tesla-charging-shakeup-may-disrupt-biden-ev-plans" rel="noreferrer noopener">Tesla Charging Shakeup May Disrupt Biden EV Plans</a>
The Environmental Democracy Project asserts its authority to file a citizen lawsuit under the Clean Air Act, citing Tesla's alleged violations of operating permit conditions for&nbsp;major&nbsp;pollution sources.
In February, Tesla&nbsp;faced a lawsuit from&nbsp;25 California counties over its alleged improper handling of hazardous&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/36882109/tesla-faces-lawsuit-from-25-california-counties-over-alleged-improper-handling-of-hazardous-waste" rel="noreferrer noopener">waste materials at its facilities across the state</a>.
The district attorneys representing the counties accused Tesla of intentionally disposing of hazardous waste at unauthorized locations&nbsp;that were&nbsp;not equipped to handle such materials.
Also, a local water authority near&nbsp;the company's German gigafactory accused the company of polluting local rivers, saying Tesla's factory is discharging six times more&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37388532/tesla-under-fire-again-in-germany-as-local-authorities-accuse-ev-giant-of-polluting-berlins-drinking" rel="noreferrer noopener">hazardous pollutants into the water system than its permits allow</a>.
Tesla stock has gained more than 6% in the last 12 months. Investors can gain exposure to the stock via two ETFs. They include&nbsp;the Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) and&nbsp;Fidelity MSCI Consumer Discretionary Index ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>).
Price Action: TSLA shares are trading higher by 2.94% at $174.94 at the last check Tuesday.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/news/24/05/38587826/tesla-interns-face-the-heat-of-musks-budget-squeeze" target="_blank" rel="noreferrer noopener">Tesla Interns Face The Heat Of Musk's Budget Squeeze</a>
Photo by JHVEPhoto on Shutterstock

Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Tuesday</a>. The EV behemoth, owned by billionaire&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/elon-musk" rel="noreferrer noopener">Elon Musk</a>, reportedly faces escalated tensions as Sweden&#8217;s most prominent union backs a six-month-old strike by mechanics, amplifying disputes with organized labor, Reuters reported.
The strike centers on Musk&#8217;s refusal to sign a collective bargaining agreement, preventing the metal workers&#8217; union from negotiating for the entire workforce.&nbsp;
Despite Musk&#8217;s claim that the labor conflict had subsided,&nbsp;IF&nbsp;Metall maintains the strike&nbsp;persists,&nbsp;the report&nbsp;added.
&#8220;The strike is ongoing&nbsp;and&nbsp;we have no signs of reaching an agreement&nbsp;in the near future,&#8221;&nbsp;IF Metall&nbsp;head&nbsp;Marie Nilsson&nbsp;said.&nbsp;
&#8220;We have had a few sittings with the Swedish management during April, but &#8230; Tesla has shown little willingness in discussing an end to the conflict,&#8221; Reuters added.
According to Reuters, approximately 44 union members,&nbsp;representing&nbsp;roughly one-third of Tesla&#8217;s Swedish mechanics, have ceased work. Although Tesla does not manufacture vehicles in Sweden, it provides local servicing.
Over a dozen unions have initiated actions in solidarity with IF Metall,&nbsp;with&nbsp;Unionen&nbsp;being the most recent and&nbsp;largest&nbsp;addition to the&nbsp;movement,&nbsp;the report added.
&#8220;It is fundamentally important to protect&nbsp;our collective agreement system,&#8221;&nbsp;Martin&nbsp;Wastfeldt, head of negotiations at Unionen, told Reuters.
Unionen initiated a blockade on Tuesday, halting all Tesla-related work at DEKRA Industrial AB,&nbsp;responsible&nbsp;for&nbsp;equipment inspections, according to Reuters.&nbsp;
Should Tesla attempt to bypass the blockade by engaging alternative providers, Unionen is prepared to take further action, according to Wastfeldt, Reuters&nbsp;added.&nbsp;
Though the striking figures in Sweden may be modest, the implications loom large, the report stated.
While Elon Musk did not respond to the Reuters report directly, he poked fun at the company by posting a meme on social media platform X (formerly Twitter).
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/zTCVL0NiMq">pic.twitter.com/zTCVL0NiMq</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1790382311491445120?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action:&nbsp;TSLA shares are trading higher by 3.39% to $177.80 at last check Tuesday.&nbsp;
Read Next:<a target="_blank" href="https://www.benzinga.com/news/24/05/38776732/biden-chief-economic-advisor-promises-relief-for-middle-class-sets-sights-on-overturning-corporate-t" rel="noreferrer noopener">&nbsp;Biden Chief Economic Advisor Promises Relief For Middle Class, Sets Sights On Overturning Corporate Tax Cuts: Report</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$175.00</td>
<td>$32.0K</td>
<td>80.0K</td>
<td>55.1K</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$34.00</td>
<td>$837.2K</td>
<td>34.0K</td>
<td>23.1K</td>
</tr>
<tr>
<td>TSLA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$175.00</td>
<td>$42.0K</td>
<td>2.2K</td>
<td>10.8K</td>
</tr>
<tr>
<td>RIVN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$7.50</td>
<td>$1.0 million</td>
<td>96.2K</td>
<td>9.6K</td>
</tr>
<tr>
<td>QS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$6.00</td>
<td>$67.5K</td>
<td>24.8K</td>
<td>8.7K</td>
</tr>
<tr>
<td>CHWY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$15.00</td>
<td>$808.5K</td>
<td>7.2K</td>
<td>3.3K</td>
</tr>
<tr>
<td>BOOT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$100.00</td>
<td>$255.0K</td>
<td>5.0K</td>
<td>2.0K</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$6.00</td>
<td>$62.7K</td>
<td>10.8K</td>
<td>1.1K</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$80.00</td>
<td>$45.2K</td>
<td>5.2K</td>
<td>951</td>
</tr>
<tr>
<td>LEN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$162.50</td>
<td>$28.2K</td>
<td>2.3K</td>
<td>738</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we notice a call option trade that happens to be neutral, expiring in 129 day(s) on September 20, 2024. This event was a transfer of 15 contract(s) at a $175.00 strike. The total cost received by the writing party (or parties) was $32.0K, with a price of $2134.0 per contract. There were 80003 open contracts at this strike prior to today, and today 55119 contract(s) were bought and sold. 
• For GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we notice a call option trade that happens to be bearish, expiring in 3 day(s) on May 17, 2024. This event was a transfer of 644 contract(s) at a $34.00 strike. The total cost received by the writing party (or parties) was $837.2K, with a price of $1300.0 per contract. There were 34057 open contracts at this strike prior to today, and today 23108 contract(s) were bought and sold. 
• Regarding TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we observe a put option trade with bullish sentiment. It expires in 10 day(s) on May 24, 2024. Parties traded 100 contract(s) at a $175.00 strike. The total cost received by the writing party (or parties) was $42.0K, with a price of $420.0 per contract. There were 2260 open contracts at this strike prior to today, and today 10863 contract(s) were bought and sold. 
• For RIVN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), we notice a put option trade that happens to be bullish, expiring in 248 day(s) on January 17, 2025. This event was a transfer of 9328 contract(s) at a $7.50 strike. The total cost received by the writing party (or parties) was $1.0 million, with a price of $113.0 per contract. There were 96217 open contracts at this strike prior to today, and today 9656 contract(s) were bought and sold. 
• For QS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>), we notice a call option trade that happens to be bearish, expiring in 3 day(s) on May 17, 2024. This event was a transfer of 2500 contract(s) at a $6.00 strike. The total cost received by the writing party (or parties) was $67.5K, with a price of $27.0 per contract. There were 24894 open contracts at this strike prior to today, and today 8744 contract(s) were bought and sold. 
• For CHWY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>), we notice a put option trade that happens to be bullish, expiring in 248 day(s) on January 17, 2025. This event was a transfer of 3300 contract(s) at a $15.00 strike. The total cost received by the writing party (or parties) was $808.5K, with a price of $245.0 per contract. There were 7269 open contracts at this strike prior to today, and today 3359 contract(s) were bought and sold. 
• For BOOT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>), we notice a put option trade that happens to be bullish, expiring in 3 day(s) on May 17, 2024. This event was a transfer of 1000 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $255.0K, with a price of $255.0 per contract. There were 5053 open contracts at this strike prior to today, and today 2003 contract(s) were bought and sold. 
• Regarding NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), we observe a call option sweep with bullish sentiment. It expires in 94 day(s) on August 16, 2024. Parties traded 721 contract(s) at a $6.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $62.7K, with a price of $87.0 per contract. There were 10821 open contracts at this strike prior to today, and today 1191 contract(s) were bought and sold. 
• Regarding BABA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), we observe a call option sweep with bearish sentiment. It expires in 612 day(s) on January 16, 2026. Parties traded 27 contract(s) at a $80.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $45.2K, with a price of $1675.0 per contract. There were 5267 open contracts at this strike prior to today, and today 951 contract(s) were bought and sold. 
• Regarding LEN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>), we observe a call option trade with bullish sentiment. It expires in 3 day(s) on May 17, 2024. Parties traded 123 contract(s) at a $162.50 strike. The total cost received by the writing party (or parties) was $28.2K, with a price of $230.0 per contract. There were 2313 open contracts at this strike prior to today, and today 738 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AMZN

BABA

BOOT

CHWY

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

President Joe Biden announced Tuesday a significant increase in tariffs on a range of Chinese goods, aimed at protecting the American economy <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38813115/biden-targets-chinese-imports-with-huge-tariff-hikes-ahead-of-election">and safeguarding domestic jobs.</a>
These measures are also designed to counteract China&#8217;s heavily subsidized production, which Biden stated was &#8220;flooding the market&#8221; and harming U.S. manufacturers.
&#8220;Today, I&#8217;m announcing new tariffs in key sectors of the economy to ensure that our workers are not held back by unfair trade practices,&#8221; he explained. These include:
<ul>
<li>A 25% tariff on Chinese steel and aluminum products to counter China&#8217;s overcapacity and support clean American production.</li>
<li>A heavy 100% tariff on electric vehicles made in China to prevent market flooding and protect American auto manufacturers.</li>
<li>A 25% tariff on electric vehicle batteries and critical minerals from China to boost the domestic EV industry.</li>
<li>Increased tariffs on Chinese solar panels, raised from 25% to 50%, to support American manufacturers against subsidized competition.</li>
<li>A new 50% tariff on semiconductors made in China, a move to reclaim the semiconductor industry domestically.</li>
</ul>
Biden stressed the importance of these measures for the U.S. economy, saying, &#8220;These key sectors are where my administration is combining investments in America with tariffs that are strategic and targeted.&#8221;
Biden also cited major investments his administration has made, including &#8220;up to $1.5 billion in six clean steel projects across America, creating thousands of union jobs.&#8221; 
This effort, he noted, is significant because &#8220;Clean American steel, aluminum, it&#8217;s a big deal claim because of the way we manufacture it here. It&#8217;s half as much carbon as steel made in China.&#8221;
He also mentioned the bipartisan infrastructure law, which will establish a network of 500,000 electric vehicle charging stations across the country, creating thousands of jobs.
&#8220;The future of electric vehicles will be made in America by union workers,&#8221; the president stated.
Biden contrasted his approach with that of former President Donald Trump, noting, &#8220;My predecessor promised to increase American exports and boost manufacturing but failed.&#8221;
Asserting the global economic leadership of the U.S., Biden declared, &#8220;America is rising; we have the best economy in the world. Our trade deficit with China is down to the lowest level in over a decade, and we&#8217;re standing up against Chinese government unfair economic practices.&#8221;
He reinforced his commitment to ensuring that &#8220;everyone deserves a fair shot&#8221; and highlighted new investments, such as Microsoft Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) plan to build a data center in Racine, Wisconsin, which promises thousands of good-paying jobs.
<h3 class="wp-block-heading">Market Reactions</h3>
<ul>
<li>Clean energy stocks, as tracked by the Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>), rallied 4% on Tuesday, on track for their strongest-performing session since mid-December 2023.</li>
<li>Top performers were SunPower Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) and FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) with daily gains ranging from 30% to 53%.</li>
<li>U.S. solar stocks, as tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), rose Tuesday, following a 1.7% surge on Monday. </li>
<li>U.S. Semiconductor stocks, as monitored through the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), were 1% higher. </li>
<li>Among U.S. EV automakers, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) were both up by about 3%, while Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) soared 12%.</li>
<li>Chinese EV-makers witnessed mixed session with NIO Inc-ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NASDAQ">NIO</a>) up 6%, XPeng Inc-ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) up 1.7% and Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) down 3%.</li>
</ul>
Read now: <a href="https://www.benzinga.com/markets/equities/24/05/38821976/fed-chair-powell-signals-patience-in-rate-policy-labels-producer-inflation-data-as-mixed">Fed Chair Powell Signals Patience In Rate Policy, Labels Producer Inflation Data As &#8216;Mixed&#8217;</a>
Photos: Shutterstock

The electric vehicle market is populated with players Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), VinFast Auto Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>), Lucid Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) and Polestar Automotive Holding UK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>). Although the market has <a href="https://www.benzinga.com/news/24/03/37688367/electric-vehicle-market-slows-down-prompts-major-automakers-to-shift-strategy">soured</a> on the largest EV companies after sluggish growth, a Cantor Fitzgerald analyst remains optimistic that the EV market can outperform <a href="https://www.benzinga.com/news/24/05/38607404/death-of-evs-or-rise-of-hybrids-expert-says-better-narrative-is-the-death-of-the-explosive-growth">Wall Street estimates</a>.
The EV Analyst: Cantor Fitzgerald analyst Andres Sheppard issued Buy ratings for many major EV companies on Tuesday: Tesla with a $230 price target; Rivian with a $15 price target; VinFast with an $8 price target; and Polestar with a $5 price target. Sheppard also issued a Sell rating for Lucid with a $4 price target.
Tesla Takeaways: Sheppard cited Tesla&#8217;s price decrease in vehicles&#8217; autonomous driving technology from $12,000 to $8,000 as a future revenue driver. The analyst also saw Tesla&#8217;s deal with Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) to allow Tesla to use Baidu maps in China as an encouraging sign toward future success in the Chinese market.
Sheppard also noted the importance of an Aug. 7 unveiling of Tesla&#8217;s self-driving taxis as an important catalyst. &#8220;Although we don&#8217;t expect this segment to launch before 2027, we do expect it to be a meaningful business segment for the company over the long term,&#8221; said the analyst.
Rivian Takeaways: Sheppard remains encouraged by Rivian&#8217;s deal to supply Electric Delivery Vans to Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). He also cited Rivian&#8217;s decision to end its exclusivity with Amazon as encouraging. &#8220;We continue to view this as beneficial, because it could result in additional revenue opportunities for Rivian although no other commercial agreements have been disclosed at this time,&#8221; said Sheppard.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38818809/meme-stock-surge-bothers-former-sec-chair-as-gamestop-amc-shares-rise-nearly-80-on-">Meme Stock Surge &#8216;Bothers&#8217; Former SEC Chair As GameStop, AMC Shares Rise Nearly 80% On Tuesday: &#8216;A Lot Closer To Gambling…Certainly Not Investing&#8217;</a>
VinFast Takeaways: Sheppard sees VinFast&#8217;s inherent price advantage given their production of vehicles in Vietnam as a &#8220;significant differentiator.&#8221; 
The analyst is also encouraged by VinFast&#8217;s adoption of a dealer network. The company has signed on 16 dealers in the United States to date. &#8220;We expect the company to continue to aggressively pursue signing additional dealers over the coming quarters,&#8221; the analyst said.
Polestar Takeaways: Sheppard sees Polestar&#8217;s on-track decision to move a portion of their production to a Volvo factory in South Carolina as a means of reducing risk. Polestar currently produces all of its vehicles in China. The analyst also expects the introduction of the Polestar 4 vehicle to be well-received in the U.S. 
Lucid Takeaways: Sheppard is less bullish on Lucid. The analyst sees encouraging signs that Lucid&#8217;s vehicles compare well to competitors, but is less confident in Lucid&#8217;s productive efficiency. &#8220;We remain Underweight given the company&#8217;s slower-than-expected ramp-up in production, industry slowdown in EV demand, the company&#8217;s additional capital needs (funded to 2Q25), and high persistent gross margins,&#8221; Sheppard said in the report.
TSLA, RIVN, VFS, LCID, PSNY Price Action: 
<ul>
<li>Tesla: up 2.5% at $176.28</li>
<li>Rivian: up 2.5% at $11.18</li>
<li>VinFast: down 8.0% at $4.19</li>
<li>Lucid: up 11.7% at $3.14</li>
<li>Polestar: up 0.7% at $1.35</li>
</ul>
(As of publication on Tuesday)
Also Read: <a href="https://www.benzinga.com/news/large-cap/24/05/38797143/the-magnificent-seven-heres-how-you-can-profit-from-their-dividend-programs">The Magnificent Seven: Here&#8217;s How You Can Profit From Their Dividend Programs</a>
Image generated using artificial intelligence via Midjourney.

Price Target

Analyst Ratings

BIDU

PSNY

Shifting Gears: Tesla, Rivian Accelerate In EV Market, Lucid Hits A Bump

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/05/2024-05-14_08h51_52.png" style="height:383px; width:700px" />
<h3>Hotter Inflation Data</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-ppi-hotter-inflation-meme-stocks-spy-mc-05142024">click here</a> for an enlarged chart of SPDR S&amp;P 500 ETF Trust (ARCA:SPY) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul>
<li>The chart shows the stock market is in the resistance zone.</li>
<li>As is their pattern, the momo crowd was buying ahead of the release of the Producer Price Index (PPI) on hope strategy.</li>
<li>The momo crowd&rsquo;s hopes were dashed when PPI data came much hotter than expected.&nbsp;Here are the details:
<ul>
<li>Headline PPI came at 0.5% vs. 0.3% consensus.</li>
<li>Core PPI came at 0.5% vs. 0.2% consensus.</li>
</ul>
</li>
<li>The chart shows the stock market first dipped on bad inflation data, but as of this writing in the premarket, the momo crowd is aggressively buying the dip.</li>
<li>Prudent investors, in The Arora Report analysis, would want to wait to see Consumer Price Index (CPI) data tomorrow before taking any action.&nbsp;CPI will be released tomorrow at 8:30am ET.</li>
<li>The Arora Report <a href="https://blog.thearorareport.com/disney-050824/">previously shared</a> that the Fed&rsquo;s second blunder has loosened financial conditions way beyond where they should be based on the economic data.</li>
<li>The Fed&rsquo;s blunder is now showing up in meme stocks roaring back.&nbsp;Earlier this morning, GameStop Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gme#NYSE">GME</a>) was up 163% in the premarket on top of 74% gain yesterday.</li>
<li>The meme crowd ran up AMC Entertainment Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) 156% this morning, trading as high as $13.30 in the premarket.&nbsp;AMC took advantage of the meme crowd to raise about $250M of new capital by selling shares at $3.45.&nbsp;When the company is selling shares at $3.45, why would the meme crowd buy the same shares at $13.30?&nbsp; The answer is the meme crowd is not doing any analysis other than becoming a meme to cause a short squeeze.</li>
<li>The last meme craze ended in tears for the meme crowd with big losses.&nbsp;As full disclosure, The Arora Report gave a number of successful, short term signals on meme stocks, taking advantage of previous crazes.&nbsp;If the meme craze continues, The Arora Report&nbsp;will return to the same playbook.</li>
<li>In addition to GME and AMC, here are the stocks the meme crowd is targeting: Plug Power Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plug#NASDAQ">PLUG</a>), BlackBerry Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>), Eastman Kodak Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kodk#NYSE">KODK</a>), Lemonade Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmnd#NYSE">LMND</a>), Novavax Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvax#NASDAQ">NVAX</a>),&nbsp;SunPower Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwr#NASDAQ">SPWR</a>), Tupperware Brands Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tup#NYSE">TUP</a>),&nbsp;Newegg Commerce Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/negg#NASDAQ">NEGG</a>),&nbsp;Spirit Airlines Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/save#NYSE">SAVE</a>), Hertz Global Holdings Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/htz#NASDAQ">HTZ</a>), KOSS Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/koss#NASDAQ">KOSS</a>),&nbsp;Reddit Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rddt#NYSE">RDDT</a>),&nbsp;VinFast Auto Ltd&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vfs#NASDAQ">VFS</a>), Rivian Automotive Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>), and&nbsp;C3.ai Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ai#NYSE">AI</a>).</li>
<li>Among earnings, the most notable are earnings from Dow Jones (DJIA) component Home Depot Home Depot Inc (NYSE:&nbsp;HD).&nbsp;Here are the details:
<ul>
<li>Home Depot showed its sixth consecutive quarter of negative sales growth.</li>
<li>Same store sales decreased by 3%.</li>
<li>Earnings were roughly inline with whisper numbers.</li>
</ul>
</li>
</ul>
<h3>Layoffs</h3>
Walmart Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>) is laying off hundreds of corporate employees.&nbsp;Walmart is also calling remote workers back to the office.
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>).
In the early trade, money flows are neutral in Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>).
In the early trade, money flows are negative in Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), and NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>).
In the early trade, money flows are mixed in SPDR S&amp;P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is aggressively buying in the early trade.&nbsp;Smart money is inactive in the early trade.
<h3>Gold</h3>
The momo crowd is buying gold in the early trade. Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
<h3>Oil</h3>
The momo crowd is like a yoyo in oil in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see oil ratings.
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp;If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp;A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp;High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp;Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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New Hotter Inflation Data – Momo Buys The Dip, Fed Blunder Shows Up In Roaring Meme Stocks

Brett Garrard, a Mercedes worker, emphasized the need for better work-life balance and a more predictable schedule as part of the ongoing unionization efforts at a Mercedes plant in Alabama.
What Happened: Garrard&#8217;s statement, made on Last Call CNBC, comes amid a vote by over 5,000 workers at the Mercedes-Benz plant in Alabama on whether to join the United Auto Workers (UAW) union. The vote began on Monday, May 13, 2024, in the face of a strong anti-union campaign.
&#8220;The things that we are reaching for in this campaign are more work-home life balance [and] a more stable and standard schedule so that we can participate in family activities,&#8221; Gerrard said.
However, he also revealed that not everyone in the Alabama plant is ready for unionization. The biggest fear is the management would shift the plant out of Alabama to Mexico if the unionization campaign continues. Workers are also concerned that others plants would be preferred over Alabama when new car designs arrive. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;The things that we are reaching for in this campaign are more work-home life balance [and] a more stable and standard schedule so that we can participate in family activities,&quot; says Mercedes worker Brett Garrard on unionization efforts at a Mercedes plant in Alabama. <a href="https://t.co/ane9O8PEeI">pic.twitter.com/ane9O8PEeI</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1790165906376593821?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38805961/elon-musks-tesla-faces-fsd-uptake-challenge-as-only-2-of-free-trial-users-subscribe-gary-black-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Tesla Faces FSD Uptake Challenge As Only 2% Of Free Trial Users Subscribe, Gary Black Terms T</a>
Why It Matters: The unionization efforts at the Mercedes plant are part of a larger campaign by the UAW. Following a significant victory at a <a href="https://www.benzinga.com/news/24/04/38363664/after-uaw-wins-big-in-tennessee-40m-campaign-continues-35-car-plants-are-next">Volkswagen plant in Tennessee</a>, UAW President Shawn Fain announced plans to organize more nonunion automaker factories. 
The UAW&#8217;s<a href="https://www.benzinga.com/news/24/04/38363664/after-uaw-wins-big-in-tennessee-40m-campaign-continues-35-car-plants-are-next"> $40-million campaign aims </a>to unionize autoworkers in at least 35 non-union U.S. plants currently under the banner of major manufacturers such as Mercedes-Benz Group, Tesla Inc, BMW, Toyota Motor Corp, Nissan Motor Co Ltd and Hyundai Motor Company.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/05/38786554/nio-ceo-william-li-breaks-8-year-brand-loyalty-streak-as-he-takes-delivery-from-rival-chinese-ev-sta?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nio CEO William Li Breaks 8-Year Brand Loyalty Streak As He Takes Delivery From Rival Chinese EV Startup</a>
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Mercedes Worker Advocates For Better Work-Life Balance Amid Unionization Efforts in Alabama Plant: '...So That We Can Participate In Family Activities'

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust </h3>
The SPY&nbsp;(ARCA: SPY) is currently trading near the level of 521.85. For the bulls, a move above 522.84 is essential. Sustaining this level could drive the price up to 523.76. Holding above 523.76 during the regular session could lead to a further rise to 525.26. The ultimate bull target for SPY today is 526.31.
Conversely, if 521.85 fails to act as support, the bears could push the price down to 520.67. If selling pressure increases, the next target is 519.71. A breakdown below 519.71 with heavy selling pressure could see a drop to 518.76. In an aggressive sell-off, the low bear target for the day is 518.04.
<h3>Invesco QQQ Trust Series 1</h3>
The QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is currently trading around the key level of 442.53. Bulls need to maintain support above this level. If successful, the price could climb to 444.09. Sustained buying pressure might push the price to 445.09. A strong session could see the price testing 446.51. The high bull target for QQQ today is 447.73.
If the QQQ struggles to stay above 442.53, bears might take control and push the price down to 441.56. Further weakness could drive the price to 440.78. Persistent selling pressure may result in a test of 440.00. If this level fails, the low bear target for the day is 438.89.
<h3>Apple Inc. </h3>
Apple (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is currently trading around 186.99. Bulls need to defend this level and aim for a rally to 187.50. Continued bullish momentum could drive the price to 188.20. If bulls maintain their strength, we could see a push to the high bull target of 188.56.
Should 186.99 fail to hold as support, a test of 186.35 is likely. Continued selling could drive the price down to 185.86. Persistent selling pressure might bring the price to 184.96. A break below this level could see Apple reaching the low bear target of 184.59.
<h3>Microsoft Corp.</h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently trading around 413.14. Bulls need to hold this level and rally to 414.56, establishing it as support. If this level holds, the price could rise to 416.32. Sustained buying could push the price to the high bull target of 419.25.
If 413.14 does not hold as support, bears might test 411.72. A break below this level could lead to further downside to 410.64. Continued bearish pressure might push the price to 409.69. The low bear target for Microsoft today is 408.46.
<h3>NVIDIA Corporation</h3>
NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is currently trading around 898.13. Bulls aim to push the price up to 903.25 and establish this as support. Continued buying could drive the price to 917.98. A strong rally could see the price reaching 922.67. The high bull target for NVIDIA today is 928.47.
If 898.13 fails to hold, bears might test 890.55. A break below this level with selling pressure could see the price drop to 882.97. Continued weakness might test 877.25. The low bear target for NVIDIA today is 865.62.
<h3>Alphabet Inc Class A</h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is currently trading around 169.34. Bulls need to maintain support at this level and push higher to 171.14. Continued bullish momentum could drive the price to the high bull target of 172.28.
If 169.34 fails as support, bears might push the price down to 167.04. A break below this level could lead to further downside to 165.41. Heavy selling might drive the price to the low bear target of 163.79.
<h3>Meta Platforms Inc</h3>
Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is trading around 465.81. Bulls need to hold this level as support and aim for a rally to 470.28. A strong buy-side auction could drive the price to 472.19. Continued bullish momentum could push the price to the high bull target of 477.50.
If 465.81 fails as support, bears might push the price down to 464.57. Continued selling pressure could see the price drop to 462.20. A break below this level could see the price fall to the low bear target of 458.59.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading around 169.70. Bulls need to push the price up to 172.61. Continued buying could drive the price to 176.34. A bullish rally might see Tesla testing higher at 179.79. A strong buy-side session could push the price to the high bull target of 182.53.
If 169.70 fails as support, bears might test lower at 166.89. Continued selling might bring the price down to 164.87. A break below this level could see the price drop to the low bear target of 162.32.
Final Word:&nbsp; Today&#39;s trading session is poised to be significant with the release of the April PPI data at 8:30 AM ET. Additionally, the Treasury will conduct a 52-week Bill Auction at 11:30 AM ET. Market participants should also pay attention to speeches from Federal Reserve officials Lisa Cook at 9:10 AM ET and Jerome Powell at 10 AM ET. These events could cause increased volatility and provide trading opportunities. Given the potential for market-moving news, traders should stay alert to sudden price changes and be prepared to adjust their strategies accordingly. Monitoring volume and market reactions closely will be essential to navigate today&#39;s trading environment. Trade safely, stay informed, and good luck!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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Market Clubhouse Morning Memo - May 14th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

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Shares of auto and EV stocks are trading higher. The sector may be reacting to Biden announcing tariffs on Chinese EVs.

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Monday explained his decision to make the <a href="https://www.benzinga.com/news/24/02/37356873/elon-musk-says-upcoming-tesla-roadster-to-debut-with-spacex-tech-for-speed-boost-there-will-never-be">upcoming Roadster</a> faster than the company&#8217;s Model S sports sedan on the heels of a report that his team was made aware of the vehicle&#8217;s new specs only from his post. 
What Happened: &#8220;It would also obviously be ridiculous for the Roadster to achieve simply the same 0-60mph time as Model S, even though it is a 2-door fully performance-oriented vehicle,&#8221; Musk wrote on X, formerly Twitter.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It would also obviously be ridiculous for the Roadster to achieve simply the same 0-60mph time as Model S, even though it is a 2 door fully performance-oriented vehicle
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1790100016746352938?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
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The upcoming Tesla Roadster, Musk said in February, can accelerate from 0 to 60 mph in less than 1 second, lower than the company&#8217;s initial estimate of 1.9 seconds. Tesla&#8217;s Model S Plaid, meanwhile, can achieve the same speed in 2.1 seconds. 
Musk was responding to an exclusive report from The Information which said that employees at the company were made aware of the new specifications on the Roadster only from Musk&#8217;s tweet.
&#8220;The [Wrong] Information,&#8221; Musk wrote about the report, without specifying specific inaccuracies. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The [Wrong] Information
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1790099573228085748?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
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The Information also noted that the company&#8217;s upcoming lower-price electric vehicle nicknamed the Model 2 and expected to be priced at $25,000 was nearly ready when the CEO scrapped it in February and decided to focus all <a href="https://www.benzinga.com/news/24/04/38286437/tesla-ceo-elon-musk-says-going-balls-to-the-wall-for-autonomous-driving-is-blindingly-obvious-as-eve">of the company&#8217;s resources on robotaxis</a>. 
Why It Matters: Musk&#8217;s Tesla has not officially clarified the status of its Model 2. The robotaxi, however, will be unveiled on August 8, Musk said. 
The new Roadster, meanwhile, is expected to be unveiled by the end of 2024 with deliveries slated to start in 2025. The vehicle relies on a collaboration between Musk&#8217;s two companies- Tesla and SpaceX- to provide the incredible performance, the CEO said. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" target="_blank" rel="noreferrer noopener">SpaceX Starship Likely To Fly For 4th Time Next Month As Elon Musk Reaffirms New Goals</a>
Image made via photos on Shutterstock

Tesla CEO Elon Musk Says Making New Roadster Only As Fast As Model S Plaid Would Be 'Ridiculous'

<a href="https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/11983630" title="https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/11983630">https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/11983630</a>

Tesla Granted U.S. Patent #11983630:	Neural Networks For Embedded Devices

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is deploying advertisements to get its<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38774504/tesla-analyst-sees-annual-shareholder-meeting-as-key-to-determining-elon-musk-led-c"> shareholders to vote again</a> for CEO Elon Musk&#8216;s rescinded pay package from 2018.
What Happened: In a filing with the SEC, Tesla showcased the different ads and information the company has put out to inform its shareholders of the upcoming shareholder meeting and the two key votes about Musk&#8217;s pay package and the other on shifting Tesla&#8217;s state of incorporate from Delaware to Texas.
Musk&#8217;s 2018 pay package was rescinded by a Delaware court earlier this year terming it an &#8220;enormous&#8221; sum. The package was worth $55 billion at the time of issue.
Tesla is now trying to get the shareholders to vote again on the package at the upcoming shareholder meeting which will be held on June 13, 2024, at 3:30 p.m. Central Time (CT). The company is employing both Google ads and X ads to promote the upcoming vote.
Why It Matters: The EV giant has long been wary of advertising despite a push from shareholders. Last month, it was reported that the company laid off its marketing team in the U.S. after he deemed the ads made by the team as &#8220;too generic.&#8221;
Musk first expressed&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/05/32439283/tesla-bulls-cheer-elon-musks-decision-to-try-some-advertising-it-could-be-amazingly" target="_blank" rel="noreferrer noopener">willingness to try traditional advertising</a>&nbsp;less than a year ago in May 2023. Until then, the company&nbsp;boasted of spending almost&nbsp;no money on advertising but&nbsp;became popular purely&nbsp;via word of mouth.
Since then, Tesla has attempted advertising on different platforms including&nbsp;YouTube,&nbsp;X, and even Meta Platforms'&nbsp;Instagram, and&nbsp;Facebook&nbsp;<a href="https://www.benzinga.com/news/24/03/37908129/facebook-isnt-lame-for-musk-anymore-tesla-rejoins-zuckerbergs-social-media-platform-after-ghosting-i" target="_blank" rel="noreferrer noopener">despite Musk's past criticism of them</a>.
However, in January, Tesla executives clarified during the fourth-quarter earnings call that while the lack of awareness impacted EV adoption, the company would not spend too much on advertising and marketing but instead spend it in areas and geographies where the company has low market share such as Japan.
Investor Reacts: Ross Gerber, the president and CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, criticized the company&#8217;s commitment to promoting the shareholder vote for the CEO&#8217;s pay while it refuses to scale up advertising for its products.
&#8220;They literally cut prices every week to sell cars and don't advertise their weekly sales. But they advertise for Elons pay,&#8221; Gerber wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">They literally cut prices every week to sell cars and don't advertise their weekly sales. But they advertise for Elons pay. <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://t.co/UxnohcNDvS">https://t.co/UxnohcNDvS</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1790159728930406499?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
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Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/05/38782522/spacex-starship-likely-to-fly-for-4th-time-next-month-as-elon-musk-reaffirms-new-goals" target="_blank" rel="noreferrer noopener">SpaceX Starship Likely To Fly For 4th Time Next Month As Elon Musk Reaffirms New Goals</a>
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Analyst Color

Management

Tesla Spends On Musk's Pay Vote Ads, But Ross Gerber Feels EV Giant Could Advertise Weekly Sales Instead

The Biden administration is implementing new tariffs on Chinese imports, targeting sectors like electric vehicles, batteries, and semiconductors, aiming to safeguard U.S. jobs&nbsp;prior to&nbsp;the November election.&nbsp;
Lael Brainard, the White House national economic adviser, emphasized the importance of these actions to prevent unfair competition from China and protect domestic industries.&nbsp;
The tariffs, affecting $18 billion worth of Chinese products, focus on strategic areas such as aluminum, steel, and critical minerals, reported the&nbsp;<a target="_blank" href="https://www.ft.com/content/972cabfb-f587-4cb3-ab21-ec3380b049da" rel="noreferrer noopener">Financial Times</a>.
The tariff adjustments include quadrupling rates on Chinese electric vehicles to 100%, nearly tripling rates on steel and aluminum imports, and doubling rates on Chinese semiconductors by 2025. Tariffs on solar cells will also double this year to 50%.
Biden administration denied any political motives, citing efforts to bolster key sectors prioritized in legislation like the Chips Act and Inflation Reduction Act.
Greta Peisch, formerly with the Office of the U.S. Trade Representative, highlighted the importance of tariff adjustments to ensure the competitiveness of U.S. companies in the evolving electric vehicle and battery market.&nbsp;
The move follows a review of tariffs initiated during the Trump administration&#8217;s trade war with China, with&nbsp;U.S. officials&nbsp;opting&nbsp;to maintain most of the existing tariffs.&nbsp;
Despite assertions of non-political intent, the timing coincides with Biden&#8217;s efforts to shore up support among union workers, particularly in critical industrial states like Pennsylvania and Michigan.
While denying a direct connection to the election, officials highlight the importance of safeguarding U.S. industries against unfair trade practices.&nbsp;
China, already facing scrutiny from the European Commission over EV imports, perceives the tariffs as attempts to stifle its economic growth.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Tatiana Popova and rawf8 via Shuttterstock

Macro Economic Events

BYDDF

BYDDY

Biden Targets Chinese Imports With Huge Tariff Hikes Ahead of Election

Former&nbsp;Cruise&nbsp;CEO&nbsp;<a href="https://www.benzinga.com/news/24/05/38606510/us-is-currently-sc-ed-ex-cruise-ceo-calls-for-manufacturing-makeover-to-win-over-chinese-auto-rivals">Kyle Vogt</a>&nbsp;has successfully raised $150 million for his latest venture, a robotics startup named&nbsp;The Bot Company.
What Happened: Alongside former Cruise engineer&nbsp;Luke Holoubek&nbsp;and former Tesla AI employee&nbsp;Paril Jain, Vogt launched The Bot Company, which is now valued at $550 million following this recent funding round, according to a&nbsp;<a target="_blank" href="https://www.forbes.com.au/news/entrepreneurs/cruise-cofounder-raised-150m-for-household-robot-startup/" rel="noreferrer noopener">Forbes</a>&nbsp;report.&nbsp;
The startup aims to create home robots capable of handling household chores like cleaning and laundry.
Key investors in the round include&nbsp;Spark Capital&nbsp;and&nbsp;Nat Friedman, the former&nbsp;GitHub&nbsp;CEO who now manages a significant AI-focused fund. The company&#8217;s business model&nbsp;is centered&nbsp;on selling these robots directly to consumers, with the added&nbsp;feature of customization&nbsp;through a Discord-like chat server.&nbsp;
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-tech-penny-stocks" rel="noreferrer noopener">Best Tech Penny Stocks Right Now</a>
However, this business model could change as the company, which is not yet generating revenue, continues to evolve.
The founders&#8217; previous experience with autonomous vehicles at Cruise and Tesla&nbsp;is anticipated&nbsp;to be advantageous in overcoming the technical challenges of creating independent robots.&nbsp;
Why It Matters: Co-founder Jain was a longtime AI manager at Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), where he played a significant role in the deployment of Tesla&#8217;s Full Self-Driving software, which <a href="https://www.benzinga.com/news/24/04/38136640/how-many-tesla-cars-are-deployed-with-fsd-in-america-ai-head-reveals-latest-numbers" target="_blank" rel="noreferrer noopener">he recently revealed</a> was deployed on approximately 2 million vehicles in the U.S. 
His experience and expertise in AI and autonomous technology could be instrumental in developing advanced home robots, adding a unique edge to The Bot Company&#8217;s offerings.
He revealed his departure from the EV giant on Tuesday,&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38796493/teslas-fire-hire-musk-brings-back-some-laid-off-supercharger-team-employees">amid wider company layoffs</a>, saying&nbsp;it&nbsp;has &#8220;been an incredible&nbsp;7&nbsp;years building the best&nbsp;self driving&nbsp;product on the market.&#8221;
&#8220;While I had always planned to help Tesla get to the final destination of global deployment of Robotaxis, I think it's time to accelerate [the] rest of the robotics industry and build more bots that give people time back,&#8221; he added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As for Tesla &#8211; it has been an incredible 7 years building the best self driving product on the market. We have come a long way from barely being able to stay in lane, to building Navigate on Autopilot, (Not) Smart Summon, Autonomy day push, giving 4AM demos for autonomy day and…
&mdash; Paril Jain (@pariljain) <a href="https://twitter.com/pariljain/status/1790127326807642399?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38808984/teslas-genius-move-or-price-cut-in-disguise-analysts-dissect-ev-giants-0-99-model-y" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Genius Move Or Price Cut In Disguise? Analysts Dissect EV Giant&#8217;s 0.99% Model Y Financing Scheme</a>
Photo by Kimberly White/Getty Images for TechCrunch via Flickr
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Financing

Startups

Media

Ex-Cruise CEO Raises $150M For Robotics Startup Co-Founded With Longtime Tesla AI Head Who Just Quit

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) is set to lay off hundreds of corporate employees and relocate others to its main corporate hubs.
What Happened: Walmart, the largest employer in the U.S. with 1.6 million workers, is downsizing its corporate workforce and asking remote employees to move to its main corporate hubs, <a href="https://www.wsj.com/business/retail/walmart-to-lay-off-and-relocate-workers-d1c909a7?mod=latest_headlines">reported</a> The Wall Street Journal, citing&nbsp;people familiar with the matter. 
The affected employees are based in smaller offices in Dallas, Atlanta, and Toronto. They are being asked to relocate to Walmart&#8217;s corporate headquarters in Bentonville, Ark., Hoboken, N.J., or Northern California.
Walmart will still allow partial remote work, but employees are expected to be in the office for the majority of their working hours. The move comes as Walmart, like many other companies, is reducing its remote work flexibility and consolidating its smaller offices.
The retail giant has been working to cut costs in some areas while prioritizing spending elsewhere. Last month, Walmart announced the closure of all 51 of its health clinics, which it had opened over the past five years in an attempt to expand its healthcare business.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38777196/amid-nvidia-craze-jim-cramer-sees-a-chip-stock-not-on-anyones-radar-about-to-break-out-heres-wha?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Nvidia Craze, Jim Cramer Sees A Chip Stock &#8216;Not On Anyone&#8217;s Radar&#8217; About To Break Out: Here&#8217;s What He Said</a>
Why It Matters: This move by Walmart follows a series of strategic decisions made by the retail giant. In April, Walmart announced the <a href="https://www.benzinga.com/news/large-cap/24/04/38529328/walmart-to-shut-down-all-clinic-locations-amid-rising-costs-what-it-means-for-your-healthcare">closure of all its healthcare clinics</a> due to rising costs, while its pharmacies and vision centers remained unaffected.
On the other hand, Walmart has been making <a href="https://www.benzinga.com/news/24/05/38543045/walmart-takes-bold-step-with-bettergoods-food-expansion">bold moves in other areas</a>, such as its private food brand, Bettergoods, which was launched in May, marking its largest private brand food launch in 20 years. This move aimed to make quality, trend-forward, and chef-inspired food approachable and affordable, with most items priced under $5.
Walmart&#8217;s recent decision to cut jobs and relocate workers aligns with similar moves by other major companies. In April, Google&#8216;s parent company Alphabet Inc. <a href="https://www.benzinga.com/news/24/04/38518970/google-announces-layoffs-across-key-teams-as-it-gears-up-for-io-developer-conference">announced layoffs across key teams</a> to align resources with its most significant product priorities and reduce bureaucracy.
Meanwhile, electric vehicle maker Rivian Automotive Inc also announced <a href="https://www.benzinga.com/news/24/04/38307316/after-teslas-cost-cutting-rivian-trims-workforce-again-this-year-amid-profitability-push">workforce cuts in April</a>, following a similar move by Tesla Inc, as part of its push for profitability.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38753994/cardano-founder-charles-hoskinson-says-voting-for-biden-is-a-vote-against-american-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cardano Founder Charles Hoskinson Says Voting For Biden Is A &#8216;Vote Against American Crypto Industry&#8217;</a>
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Walmart To Cut Hundreds Of Corporate Jobs, Relocate Workers To Central Hubs

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has begun offering a <a href="https://www.benzinga.com/news/24/05/38798863/tesla-defies-auto-industry-trends-with-0-99-apr-model-y-financing-offer">heavily discounted 0.99% financing option for the purchase of its Model Y electric vehicles </a>in North America, and venture capitalist and Deepwater Management Partner Gene Munster offered his take on the development in a post on Monday.
Material Development: Tesla is the &#8220;master&#8221; at tweaking prices to optimize demand,&#8221; said Munster. The fund manager noted that demand has been soft over the past five months. He noted that Tesla buyers can save $8,000 over an average six-year loan with a 1% interest rate relative to a 7% rate.
While noting that a majority of cars are now purchased with some sort of financing, Munster said, &#8220;This is material and gives me confidence that June quarter deliveries will improve from March.&#8221;
The tech analyst said he expects a 1%-4% year-over-year decline in June quarter deliveries versus the 1% drop forecast by Street and the 9% drop seen in the March quarter. 
See Also:<a href="https://www.benzinga.com/money/best-electric-vehicle-stocks"> Best Electric Vehicle Stocks</a>
Not all share the same enthusiasm. Prominent short seller Jim Chanos sees this move as a camouflaged price cut. Replying to a Tesla fan&#8217;s comments that the reduced financing offer is an &#8220;absolute game changer,&#8221; the short seller said, &#8220;Who wants to tell him this is just another price cut…?&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Who wants to tell him this is just another price cut…? <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/Cs5gZR7Rpa">https://t.co/Cs5gZR7Rpa</a>
&mdash; Diogenes (@WallStCynic) <a href="https://twitter.com/WallStCynic/status/1789396681051582499?ref_src=twsrc%5Etfw">May 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Why It&#8217;s Important: After emerging out of the COVID-19 pandemic unscathed, Tesla&#8217;s fundamentals began to falter amid deteriorating economic conditions. Rising inflation ate away at consumers&#8217; disposable income and kept them from spending on discretionary items such as cars.</figcaption></figure>
Tesla went all out with the strategy of under-cutting competition to preserve its market share but it backfired as rivals followed suit. The price cuts have steeply eroded margins and profitability. 
The Elon Musk-led company has opted to go with the &#8220;razor-razorblade&#8221; strategy, by sacrificing the margins of the auto business to make up for the shortfall with a high-margin, recurring revenue stream by selling its full self-driving software.
In premarket trading, Tesla shares rose 0.29% to $172.38, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38776258/tesla-ceo-elon-musk-draws-parallel-between-netflixs-decision-to-focus-on-streaming-over-renting-dvds">Tesla CEO Elon Musk Draws Parallel Between Netflix&#8217;s Decision To Focus On Streaming Over Renting DVDs To EV Maker Doubling Down On Vehicle Autonomy</a>
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Short Sellers

Tesla's Genius Move Or Price Cut In Disguise? Analysts Dissect EV Giant's 0.99% Model Y Financing Scheme

Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) head of Cybertruck manufacturing Renjie Zhu has resigned from the company, joining the long list of senior executives to leave as company CEO&nbsp;Elon Musk&nbsp;seeks to&nbsp;<a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees" target="_blank" rel="noreferrer noopener">downsize the company&#8217;s workforce.</a>
What Happened:&nbsp; Zhu took to LinkedIn to announce his departure from the electric vehicle giant.&nbsp;
&#8220;After triumphing the epic launch of [the] Cybertruck program and ramping the volume production line to the steady 1K/W throughput orbit for the past 16 months in GFTX, also 7 weeks after the 5th Tesla-versary, my adventure with this great company has come to an end,&#8221; Zhu wrote. Zhu joined Tesla in 2019 and launched the Cybertruck program at Giga Texas in January 2023, as per his LinkedIn profile.
Tesla started delivering the Cybertruck in late November. During Tesla&#8217;s first-quarter earnings call in April, a company executive confirmed that it made 1000 vehicle units in a week. The company intends to scale production to 250,000 units annually starting in 2025.
Zhu's departure adds him to a growing list of senior executives who have left Tesla in recent weeks, including Senior Director of Charging Infrastructure&nbsp;Rebecca Tinucci, Director of New Product Introduction&nbsp;Daniel Ho, Senior Vice President of Powertrain and Energy Engineering&nbsp;Drew Baglino, and Vice President of Public Policy and Business Development&nbsp;Rohan Patel.
&#8220;Now it's time to start a new journey, like a Falcon 9 back to the base, to refuel and prepare for next launch,&#8221; Zhu wrote in his post, referring to the reusable Falcon 9 rocket made by Tesla CEO Elon Musk&#8216;s private company SpaceX. It is unclear if Zhu was laid off or resigned out of personal choice.
Why It Matters: Last month, Tesla announced plans to cut costs through a <a href="https://www.benzinga.com/news/24/04/38516190/elon-musk-cracks-whip-harder-2-more-senior-tesla-execs-reportedly-exit-as-ceo-demands-absolutely-har" target="_blank" rel="noreferrer noopener">10% workforce reduction</a>, impacting an estimated 14,000 employees. These layoffs reflect broader challenges facing the company, including declining sales and pricing pressures.
For the first quarter, Tesla reported revenue of $21.3 billion, down from the $23.33 billion reported a year earlier. This is the first time the company's quarterly&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38398667/tesla-bulls-praise-musks-q1-earnings-call-see-ev-giant-on-collision-course-with-ube" target="_blank" rel="noreferrer noopener">revenue has fallen</a>&nbsp;since the pandemic in 2020. Tesla's net profit stood at $1.13 billion, falling 55% from $2.51 billion a year earlier.
Price Action:&nbsp;Tesla stock closed 2% higher on Monday at $171.89 and gained 0.5% after hours. The stock is down 30.8% year-to-date, according to data&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/05/38807360/elon-musks-spacex-reportedly-leaves-trail-of-unpaid-bills-worth-at-least-2-5m-amid-texas-expansion">Elon Musk&#8217;s SpaceX Reportedly Leaves Trail Of Unpaid Bills Worth At Least $2.5M Amid Texas Expansion</a>
Photo via Shutterstock

Another Tesla Exec Departs As Musk Downsizes: Cybertruck Manufacturing Head Marks End Of 'Adventure With This Great Company'

Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is likely to experience a significant decline in its stock value, according to a prominent investor. The investor&#8217;s prediction is based on the company&#8217;s recent developments and its future prospects.
What Happened: Danny Moses, a well-known investor and a long-time critic of Tesla, has forecasted a substantial drop in the company&#8217;s stock price, <a href="https://www.cnbc.com/2024/05/12/big-short-trader-danny-moses-warns-tesla-is-vulnerable-to-70percent-drop.html">reported</a> CNBC&#8217;s &#8220;Fast Money.&#8221;&nbsp;
Moses, who is known for his role in the &#8220;Big Short,&#8221; expects Tesla&#8217;s stock to plummet by 70% to $50 from its current $171.
"Everything is kind of falling apart in their core business. He's pointing everybody to robotaxis and AI and autonomy. It's really become a ‘show me' story in terms of if it's an auto company, and I think people are going to start to lose patience over time here for what the company is going to be,&#8221; Moses said. 
Moses attributes this anticipated decline to the company&#8217;s robotaxi and artificial intelligence initiatives, which he believes are masking fundamental business issues. He also points to the distractions caused by CEO Elon Musk&#8217;s focus on these technologies, despite mounting challenges in the company&#8217;s core operations.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/36913413/why-do-americans-still-buy-non-legal-weed-illicit-cannabis-sales-3-times-higher-than-legal-marij?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Do Americans Still Buy Non-Legal Weed? Illicit Cannabis Sales 3 Times Higher Than Legal Marijuana Sal</a>
Despite a brief stock price increase following Musk&#8217;s reaffirmation of the robotaxi and AI plans during the first quarter earnings call, Moses remains skeptical. He believes that these announcements are diverting attention from the company&#8217;s underlying problems.
The company is also under investigation by the Department of Justice for potentially misleading consumers and investors about the self-driving capabilities of its vehicles.
Moses, while maintaining Tesla as his main short position, praised another autonomous driving company named Wayve. This firm had recently secured $1 billion in funding from notable investors like Nvidia and Bill Gates.
Why It Matters: Tesla&#8217;s stock has been under scrutiny for various reasons. The company is facing challenges in the uptake of its Full Self-Driving technology, with <a href="https://www.benzinga.com/markets/equities/24/05/38805961/elon-musks-tesla-faces-fsd-uptake-challenge-as-only-2-of-free-trial-users-subscribe-gary-black-t">only 2% of free trial users</a> opting for the subscription, raising concerns about the future of the technology.
Additionally, Tesla has been experiencing significant <a href="https://www.benzinga.com/markets/equities/24/05/38796493/teslas-fire-hire-musk-brings-back-some-laid-off-supercharger-team-employees">changes in its workforce</a>, with reports of laid-off Supercharger team members being rehired.
Despite these challenges, the company is making significant strides in <a href="https://www.benzinga.com/markets/asia/24/05/38782261/china-greenlights-another-big-tesla-factory-this-time-for-megapack-project">its global expansion</a>, with China recently approving a new megafactory project, and its Cybertrucks gaining traction in the used car market. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38780639/bitcoin-ethereum-dogecoin-trade-mixed-after-turbulent-week-analyst-says-king-crypto-can-ri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Mixed After Turbulent Week: Analyst Says King Crypto Can Rise To $76K Level If It Reclaims This Crucial Support</a>
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'Big Short' Fame Investor Expects Elon Musk's Tesla Shares To Plunge 70%: 'People Are Going To Start To Lose Patience'

Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is facing a significant challenge in the uptake of its Full Self-Driving technology, with only 2% of free trial users opting for the subscription. This has raised concerns about the future of the technology.
What Happened: Gary Black of Future Fund took to social media platform X, to express his concerns about the low subscription rate of Tesla&#8217;s FSD service. 
He cited data from Yipit, a credit card data provider, which showed that only 2% of the Tesla owners who received a free 30-day trial of the FSD service actually subscribed to it after the trial period ended. This figure is significantly lower than the 6% Black had assumed in his Tesla model.
Black also noted that the sample size was relatively small, only 3,500 users out of 1.8 million trials, and might not be representative of the entire Tesla owner population. He suggested that Tesla needs to understand whether the low subscription rate is due to the perceived low value added by the FSD service or the $99/month subscription fee.
Black wrote, &#8220;Some bulls were predicting take rates of 20% or more &#8211; estimates we thought were absurd. The sample size was only 3,500 users out of 1.8M trials so could be unrepresentative of the TSLA owner population. Still, TSLA needs to understand whether the low take rate was due to low perceived value added or the $99/month rate.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yipit credit card data showed that just 2% of <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> owners with free FSD 30-day trials actually subscribed to it after the 30-day trial expired. My assumption in my <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> model was that 6% of trial users would subscribe. If just 2% subscribed after a month, that would be…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1790140670876815764?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Black&#8217;s concerns were further highlighted by a <a href="https://www.benzinga.com/news/24/05/38754787/elon-musk-claims-tesla-fsd-is-half-a-decade-ahead-or-more-compared-to-mercedes">community feedback forum</a> by Moomoo Technology, which questioned the market expectations of the FSD service, given the low subscription rate.
See Also: <a href="https://www.benzinga.com/news/24/05/38798863/tesla-defies-auto-industry-trends-with-0-99-apr-model-y-financing-offer?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Defies Auto Industry Trends With 0.99% APR Model Y Financing Offer</a>
Why It Matters: The low uptake of Tesla&#8217;s FSD subscription service is a significant concern for the company, especially considering the high expectations surrounding the latest FSD version, FSD v12.3. The tepid subscription rate, as reported by YipitData, raises doubts about the market&#8217;s expectations for the new FSD system.
Just days before the subscription data was revealed, Musk asserted that Tesla&#8217;s FSD technology is <a href="https://www.benzinga.com/news/24/05/38754787/elon-musk-claims-tesla-fsd-is-half-a-decade-ahead-or-more-compared-to-mercedes">&#8220;half a decade ahead or more&#8221; compared to Mercedes</a>, amid ongoing debates about the effectiveness and safety of Tesla&#8217;s autonomous driving technology.
Black&#8217;s concerns come in the wake of Tesla&#8217;s <a href="https://www.benzinga.com/news/24/05/38724721/cybertruck-owners-youll-have-to-wait-a-few-months-for-fsd-because-tesla-is-focusing-on-other-99-of-t">decision to delay</a> the deployment of its FSD driver assistance software on Cybertruck vehicles, indicating potential hurdles in the broader acceptance of FSD among consumers.
Earlier, Musk had also hinted at the imminent launch of the <a href="https://www.benzinga.com/news/24/05/38692792/tesla-robotaxis-hitting-chinas-streets-soon-ev-giant-reportedly-welcomed-to-do-some-trials-but-no-fu">FSD feature in China</a>. These developments, coupled with the disappointing subscription uptake, raise questions about the future of Tesla&#8217;s FSD technology and its impact on the company&#8217;s stock performance.
Read Next: <a href="https://www.benzinga.com/news/24/05/38729359/hertz-customer-fumes-after-car-rental-company-charges-him-277-for-refueling-tesla-and-refuses-to-rei?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hertz Customer Fumes After Being Billed $277 For &#8216;Refueling&#8217; Tesla, Car-Rental Company Says It Will Refund &#8216;Erroneous&#8217; Charge</a>
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Social Media

Elon Musk's Tesla Faces FSD Uptake Challenge As Only 2% Of Free Trial Users Subscribe, Gary Black Terms The Figure 'Disappointing'

The major U.S. indices had a mixed performance on Monday. The Dow Jones Industrial Average fell by 0.2% to close at 39,431.51, and the S&amp;P 500 declined by 0.02% to finish at 5,221.42. Conversely, the Nasdaq ended the day up nearly 0.3%, closing at 16,388.24.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>)
GameStop&#8217;s shares soared by a whopping 74.40% to close at $30.45. The stock hit an intraday high of $38.20 and a low of $24.77, with a 52-week range of $9.95 to $38.2. This surge can be traced back to a social media post from Keith Gill, best known as &#8220;Roaring Kitty&#8221; on YouTube and Reddit. After three years of silence, Gill&#8217;s post sparked a rally in <a href="https://www.benzinga.com/news/24/05/38801786/gamestop-trader-roaring-kitty-sparks-wall-street-rally-in-heavily-shorted-stocks-what-you-need-to-kn">heavily shorted stocks</a>, leading to GameStop&#8217;s significant gain.
AMC Entertainment Holdings, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>)
AMC Entertainment&#8217;s stock climbed by 78.35% to close at $5.19. The shares reached an intraday high of $5.88 and a low of $3.16, with a 52-week range of $2.38 to $62.30. This surge was also influenced by the return of &#8220;Roaring Kitty&#8221; on social media, sparking questions about the <a href="https://www.benzinga.com/news/24/05/38789552/are-meme-stocks-back-heres-whats-going-on-with-shares-of-gamestop-amc-entertainment-koss-corp-and-mo">resurgence of meme stocks</a>.
See Also: <a href="https://www.benzinga.com/news/24/05/38776732/biden-chief-economic-advisor-promises-relief-for-middle-class-sets-sights-on-overturning-corporate-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Chief Economic Advisor Promises Relief For Middle Class, Sets Sights On Overturning Corporate Tax C</a>
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba&#8217;s shares rose by 5.70% to close at $84.60. The stock hit an intraday high of $85 and a low of $82.60, with a 52-week range of $66.63 to $102.5. As the company prepares to release its earnings, Goldman Sachs analyst Ronald Keung <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38798436/what-to-expect-from-alibabas-earnings-heres-what-goldman-sachs-is-watching">highlighted key factors</a> that could drive the share price.
Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)
Rivian&#8217;s shares increased by 9.11% to close at $10.90. The stock reached an intraday high of $11.19 and a low of $10.03, with a 52-week range of $8.26 to $28.06. The company reported better-than-expected first-quarter revenue last week and maintained its 2024 production forecast of 57,000 units, leading to a <a href="https://www.benzinga.com/news/24/05/38797005/whats-going-on-with-rivians-stock">rise in its stock</a>.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares rose by 2.03% to close at $171.89. The stock hit an intraday high of $175.4 and a low of $169, with a 52-week range of $138.80 to $299.29. The company recently received <a href="https://www.benzinga.com/markets/asia/24/05/38782261/china-greenlights-another-big-tesla-factory-this-time-for-megapack-project">approval for a new megafactory project</a> in China, which will be its second megafactory after the one in California. 
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/government/24/05/38781945/chuck-schumer-says-trump-might-be-hosting-dinners-for-big-oil-execs-but-ftc-should-side-with-consume?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chuck Schumer Says Trump Might Be &#8216;Hosting Dinners For Big Oil Execs&#8217; But FTC Should Side With Consumers</a>
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GameStop, AMC, Alibaba, Rivian, Tesla: Why These 5 Stocks Are On Investors' Radars Today

June 13th is poised to be a pivotal day for Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shareholders, with several critical decisions on the agenda. Chief among them are t...

'Don't Overlook June 13,' Says Morgan Stanley About Tesla Stock

In this video, Ira Epstein reviews the day's trading in various SPDR-ETF markets for the trading day that ended, Monday, May 13.

SPDR ETF Report For Monday, May 13

With turmoil in the Kremlin and no movement towards a ceasefire in the Middle East the market maintained a steady course on Monday, ahead of data dumps later in the week.

Tuesday Talk: Market Stays Steady

Biden administration raises tariffs steeply on Chinese EVs, chips

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
With the world fighting to go green, investors should pay close attention to some of the best renewable <a href="https://investorplace.com/industries/energy/">energy stocks</a> to buy.



Thanks to wind and solar, about <a href="https://www.reuters.com/sustainability/climate-energy/renewables-provided-record-30-global-electricity-2023-ember-says-2024-05-07/">30% of the world&rsquo;s electricity was produced by renewables in 2023</a>, with the trend only likely to strengthen. Even better for climate change fighters, the world is reaching a &ldquo;crucial turning point&rdquo; with clean energy, as noted by the Global Electricity Review, <a href="https://www.cnn.com/2024/05/08/climate/clean-energy-milestone-ember/index.html">as noted by CNN</a>.



The report also says &ldquo;global fossil fuel generation will fall slightly in 2024, before experiencing much bigger declines in subsequent years. It&rsquo;s a significant step toward the world&nbsp;reaching 60% renewable electricity&nbsp;by 2030, which is critical to meeting global climate goals, said Dave Jones, global insights director at Ember,&rdquo; as noted by CNN.com.



That being said, it&rsquo;s a good idea to jump into some of the&nbsp;best <a href="https://investorplace.com/industries/energy/renewable-energy/">renewable energy stocks</a> to buy. Not only does that include solar and wind, but it also includes nuclear energy, which we&rsquo;ll touch on.



<h2>Cameco (CCJ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/shutterstock_1007906431-300x169.jpg" alt="clean energy stocks: a nuclear power plant in Belgium"><div>Source: engel.ac / Shutterstock</div></div>Since bottoming out at around $40, Cameco (NYSE:<a href="https://investorplace.com/stock-quotes/c%EF%BF%BCcj-stock-quote/">CCJ</a>) is now up to $52.23 on several big catalysts. For one, uranium is still facing supply-demand issues.



Two, there&rsquo;s no net zero without uranium. <a href="https://investorplace.com/2024/02/7-stocks-benefiting-from-the-massive-shift-to-clean-energy/#:~:text=(NYSE%3ACCJ)%2C%20NexGen,closer%20to%20%2440%20a%20share.">As I noted on Feb. 3</a>,&nbsp;&ldquo;Nuclear energy operates emission-free, mitigating carbon dioxide and curbing harmful air pollutants. It&rsquo;s not just an alternative; it is pivotal to global clean, sustainable energy transition&ndash;the key for net zero emissions,&rdquo;&nbsp;<a href="https://carboncredits.com/no-net-zero-without-uranium-heres-why/">according to CarbonCredits.com</a>.&rdquo;



Cameco is also racing higher on news&nbsp;<a href="https://www.utilitydive.com/news/congress-passes-russian-uranium-import-ban-haleu-nuclear-fuel-advanced-reactors/715256/">Congress passed the Russian uranium import ban</a>, which now unlocks about $2.7 billion to expand U.S. nuclear fuel production, says UtilityDive.com.&nbsp;



In addition, &ldquo;The Russia ban is a big deal. It will shape the nuclear fuel markets for many years to come,&rdquo; added Jonathan Hinze, president of nuclear market analysis firm UxC, as <a href="https://www.marketwatch.com/story/a-u-s-ban-on-russian-uranium-could-shape-nuclear-fuel-markets-for-years-to-come-6e7ca0c1">quoted by MarketWatch.com</a>.



With those catalysts, I&rsquo;d like to see Cameco closer to $60 a share near term. Longer term, I&rsquo;d like to see it closer to $70.



<h2>First Solar (FSLR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/fslr-stock-300x169.jpg" alt='A smartphone showing a red circle, two red curvy lines, and the text "First Solar" on a white screen, with a computer screen showing a Windows taskbar and a blue and white stock chart in the background.'><div>Source: IgorGolovniov / Shutterstock.com</div></div>The last time I mentioned First Solar (NASDAQ:<a href="https://investorplace.com/stock-quotes/fslr-stock-quote/">FSLR</a>), it traded at around $164 a share on April 3. Today, it&rsquo;s up to $193.61, where it is looking a bit overbought. If you&rsquo;re thinking of buying FSLR, wait for it to put in a healthy pullback first.



<a href="https://www.cnbc.com/2024/05/02/this-solar-stock-poised-for-upside-on-data-center-demand-goldman-says.html">Goldman Sachs likes it</a>, noting the company is poised for growth with improving demand, especially with explosive data center electricity demand.&nbsp;



With that catalyst, the firm raised its price target to $268, noting, &ldquo;As the demand picture continues to improve, management discussed the potential for adding incremental factories, which we view as a key catalyst,&rdquo; <a href="https://www.cnbc.com/2024/05/02/this-solar-stock-poised-for-upside-on-data-center-demand-goldman-says.html">as quoted by CNBC</a>.



<a href="https://seekingalpha.com/news/4091597-first-solar-upgraded-at-wells-fargo-on-relative-stability-potential-catalysts">Wells Fargo also upgraded the solar stock to overweight</a>, with a $250 price target, citing catalysts such as President Joe Biden&rsquo;s tariff exemptions for bifacial modules, and possible U.S. trade barriers on Chinese solar panels.



First Solar earnings have been strong, with first-quarter earnings per share of $2.20 beating by 22 cents. Revenue of $794 million &ndash; up 44.8% year over year &ndash; beat by $71.9 million.



<h2>First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/clean-energy-300x169.jpg" alt="A concept image of a person's hands holding a plant with floating glowing particles around it"><div>Source: Shutterstock</div></div>We can also jump into rebounding shares of the exchange-traded fund (ETF), First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a href="https://investorplace.com/stock-quotes/qcln-stock-quote/">QCLN</a>).



Since bottoming out at around $30 in late May, the ETF ran to a recent high of $35. Now at $34.68, it&rsquo;s still a strong buy opportunity. With an expense ratio of 0.58%, it holds 56 green energy stocks, which you can see here. 



Top holdings on the list include First Solar, Enphase Energy&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/enph-stock-quote/">ENPH</a>),&nbsp;Albemarle&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>),&nbsp;Tesla&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) and&nbsp;Brookfield Renewable&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/bep-stock-quote/">BEP</a>) to name just a few.



To be included in the fund,&nbsp;<a href="https://www.ftportfolios.com/Retail/etf/etfsummary.aspx?Ticker=QCLN">a stock must fall in the category</a>&nbsp;of&nbsp;Advanced Materials, including nanotech, membranes, silicon, lithium, carbon capture; Energy Intelligence, including conservation, energy management systems, smart grid, superconductors and power controls; Renewable Electricity Generation &amp; Renewable Fuels, including solar photovoltaics, concentrating solar, wind, geothermal and ethanol; and Energy Storage &amp; Conversion, which includes advanced batteries, hybrid drivetrains, hydrogen, fuel cells for stationary, portable and transportation applications, as noted by First Trust.



What&rsquo;s nice about an ETF like QCLN is we can own more for less. QCLN last traded at $34.68 and allows us to diversify with 56 green holdings.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/the-3-best-renewable-energy-stocks-to-buy-in-may-2024/">The 3 Best Renewable Energy Stocks to Buy in May 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Best Renewable Energy Stocks to Buy in May 2024

BofA's fund manager survey: Crowded trades in Mag 7 stocks and inflation risk

Lucid, Workhorse Group and Canoo lead meme-on rally for some EV names

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The 2024 U.S. presidential election and three rate cuts will keep the electric vehicle (EV) market in the spotlight this year. Both developments might benefit the sector, so it&rsquo;s important to keep an eye on these top <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> to watch.



Around <a href="https://www.iea.org/news/the-worlds-electric-car-fleet-continues-to-grow-strongly-with-2024-sales-set-to-reach-17-million">17 million electric cars</a> are expected to be sold worldwide in 2024; China will lead with 45% of auto sales. What&rsquo;s more, EVs are also expected to make up one in nine cars sold in the U.S. and one in four cars sold in Europe; in Q1 2024 Americans alone purchased 268,909 new electric vehicles.



As a further matter, policies such as the Inflation Reduction Act and the Bipartisan Infrastructure Law will keep powering the sector, expected to grow by 9.82% between 2024 and 2028, reaching $906.7 billion in 2028. Expect both parties to provide further policy recommendations as the 2024 election approaches.



With secular tailwinds powering the sector, the first pick among these quality EV stocks to watch is the first profitable EV startup from China. Next up is a company with backing from Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) looking to produce 57,000 cars this year. Lastly, we&rsquo;ll discuss an iconic American automaker aiming to make 2 million EVs by 2026.



<h2>Li Auto (LI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/li1600-2-300x169.png" alt="The steering wheel and dashboard inside Li Auto electric car. Interior of Li Auto EV. Li Auto Also known as Li Xiang, is a Chinese electric vehicle company"><div>Source: Robert Way / Shutterstock.com</div></div>Li Auto (NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>), known as China&rsquo;s first profitable EV maker, <a href="https://ir.lixiang.com/news-releases/news-release-details/li-auto-inc-march-2024-delivery-update">shipped 28,984 cars in March</a>, 39% more than the year-ago period, complimenting the launch of its first totally electric model, the Li MEGA, in a Spring 2024 launch event.



&#8203;This electric MPV debuted in China with much enthusiasm. The MEGA, <a href="https://ir.lixiang.com/news-releases/news-release-details/li-auto-inc-hosts-2024-spring-launch-event#:~:text=Li%20MEGA%20is%20built%20on,CLTC%20range%20of%20710%20kilometers.">built on an 800-volt battery-electric platform</a>, costs $77,782 and has multiple engines, a big battery pack for speedy charging and luxury interior choices, including reclining seats and a back entertainment system.



What&rsquo;s more, Li Auto <a href="https://investorplace.com/2024/03/li-auto-the-first-profitable-ev-maker-in-china-revs-up-investor-interest/">also plans to spend</a> almost $1 billion to build more than 5,000 high-speed EV charge points across China, the country accounts for roughly 60% of EV sales globally.



Investors will also be <a href="https://ir.lixiang.com/zh-hans/news-releases/news-release-details/li-auto-inc-announces-adoption-nvidias-next-generation/">excited about Li Auto&rsquo;s partnership</a> with Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>), which aims to improve technologies for self-driving cars; this market could potentially be worth $62 billion by 2026.



Finally, <a href="https://carnewschina.com/2024/04/22/li-auto-slashed-prices-by-4200-usd-to-intensify-competition-in-china/#:~:text=One%20of%20the%20bestselling%20Chinese,Li%20L6%20crossover%20remained%20unchanged.">Li Auto is slashing the prices</a> of all of its models except for the newly released Li L6, heating up the competition in China, especially for Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>); no surprise analysts rate the stock a &ldquo;Strong Buy,&rdquo; <a href="https://www.tipranks.com/stocks/li/forecast">with an 83% upside</a>.



The Li L7, L8, L9 and the Li Mega MPV all have their prices cut between 18,000 and 30,000 yuan. The Li Mega type has the biggest price drop.



<h2>Rivian Automotive (RIVN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/rivn1600-7-300x169.png" alt="Rivian (RIVN) All Electric R1T Pickup Truck in a forest green color"><div>Source: Roschetzky Photography / Shutterstock.com</div></div>Much like Li Auto, Rivian (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) is coming off a great Q1 2024, producing 13,980 vehicles and delivering 13,588 of them. As a result of these numbers, Rivian reiterated plans to make 57,000 cars this year.



The 57,000-car target is doable, considering the company celebrated the production of its 100,000th electric car in April, thanks to the addition of 623,000 square feet to its main factory site in Normal, Illinois.



Furthermore, Rivian&rsquo;s smaller and less expensive R2 and R3X models will attract customers looking for competitive prices, as affordability remains the biggest concern in greater EV adoption. 



Despite these accomplishments, Rivian&rsquo;s stock is down 48% in 2024 owing to losing money on each vehicle in the previous several quarters. By 2024, it intends to improve cost management and production efficiency. Rivian&rsquo;s finances are still robust, with $7.86 billion in cash to fund its present and future expansion, but $16.8 billion in losses within three years makes investors wary.



Still, Rivian is doing all it can to allay these fears; pausing work on a new $5 billion factory in Georgia to save over $2.25 billion. When fully operational, the factory, built on a 2,000-acre plot of land east of Atlanta, could help make up to 400,000 cars each year. 



<h2>Ford (F)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/ford-f-1600-300x169.jpg" alt="Ford (F) trucks lined up on the lot of a Ford dealership."><div>Source: Jonathan Weiss / Shutterstock.com</div></div>In the first quarter of 2024, Ford (NYSE:<a href="https://investorplace.com/stock-quotes/f-stock-quote/">F</a>) <a href="https://electrek.co/2024/04/24/fords-evs-weigh-q1-2024-earnings-pro-remains-dark-horse/">sold 20,233 EVs</a>, up 86%, thanks to healthy sales growth for the F-150 Lightning and Mustang Mach-E.



Despite the division&rsquo;s deficit, Ford is <a href="https://www.engadget.com/ford-expects-to-reach-its-ev-production-goal-a-year-later-than-planned-101804539.html#:~:text=Ford%20CFO%20John%20Lawler%20said,affects%20that%20goal%2C%20as%20well.">aiming to produce 2 million EVs</a> by 2026 by reducing capital expenses and shifting funds to this area. On top of this, <a href="https://electrek.co/2024/02/07/ford-buildin-low-cost-ev-platform-tesla/">Ford to establish a low-cost EV platform</a> to make cheaper vehicles with larger profits.



Ford wants to <a href="https://www.youtube.com/watch?v=vbeYOmitf1A">produce 600,000 electrified vehicles</a> by 2024, therefore its North American assembly sites are being upgraded, including Oakville in Ontario. By 2026, Ford plans to export automobiles from BlueOval City, its advanced automotive manufacturing hub in Tennessee.



Moreover, Ford&rsquo;s brand-new three-row electric cars, <a href="https://finance.yahoo.com/news/ford-f-defers-launch-three-151600357.html">expected to launch in 2027</a>, will help take advantage of new battery technologies.



Overall, Ford&rsquo;s sales, earnings and cash flow all went up in the first quarter of 2024. Even though the economy is volatile due to sticky inflation and waning EV demand, the Ford Blue, Ford Model e and Ford Pro divisions <a href="https://media.ford.com/content/fordmedia/fna/us/en/news/2023/05/02/first-quarter-2023-financial-results.html">will keep its finances stable</a> and help it grow; a <a href="https://www.tipranks.com/stocks/F/forecast">20% upside</a> and &ldquo;Moderate Buy&rdquo; rating accentuates Ford&rsquo;s robustness.



On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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