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.

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

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Mercedes Worker Advocates For Better Work-Life Balance Amid Unionization Efforts in Alabama Plant: &#39;...So That We Can Participate In Family Activities&#39;

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Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.

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

Tesla Inc

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.

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.

WIIM

LCID

STLA

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.
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Macro Economic Events

Politics

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>
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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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Global

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>
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<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>
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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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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Analyst Ratings

'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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BABA

GameStop, AMC, Alibaba, Rivian, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Meme stocks have once again captured the spotlight in the financial market following the return of Keith Gill — known widely as &#8220;Roaring Kitty&#8221;— to social media after <a href="https://www.benzinga.com/general/gaming/24/05/38798005/roaring-kitty-doubles-down-posts-new-videos-on-x-sending-gamestops-stock-higher">a three-year hiatus. </a>
For those unfamiliar, Gill is a pivotal figure in the meme stock phenomenon that took the financial world by storm in early 2021. As an individual investor and financial analyst, he became famous for his role in the explosive rise of GameStop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GME#NASDAQ">GME</a>)&#8217;s stock price.
The struggling video game retailer saw its shares soar from under $20 to nearly $500 at their peak in January 2021, largely driven by a short squeeze on investors who had bet against the stock amid weak fundamentals. 
Unlike traditional stocks, which are influenced by fundamental analysis and corporate performance, meme stocks are often subject to rapid price changes driven by hype <a href="https://www.benzinga.com/news/24/05/38795608/gamestop-leads-roaring-rally-whats-going-on-with-meme-stocks">and mass trading actions.</a>
Gill chronicled his investment journey across various platforms, including YouTube and Reddit, notably under the username u/DeepF&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;Value on the subreddit r/WallStreetBets. His philosophy is emblematic of a broader narrative about meme stocks and the democratization of investing, illustrating how individual investors can unite to disrupt the financial status quo of seasoned and large investors.
Gill&#8217;s resurgence on X (formerly known as Twitter) on May 13, sparked a viral reaction. A posted image of a man intensely focused on a video game, adopting a serious gaming stance, served as a metaphor for Gill&#8217;s impactful return to the public eye.
The post has attracted considerable attention, amassing over 10K retweets, 24K quote tweets, 94K likes, and over 19 million views, highlighting its widespread appeal and significance.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/YgjVqtgcNS">pic.twitter.com/YgjVqtgcNS</a>
&mdash; Roaring Kitty (@TheRoaringKitty) <a href="https://twitter.com/TheRoaringKitty/status/1789807772542067105?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">GameStop, AMC Skyrocket</figcaption></figure>
As a result, GameStop&#8217;s share price soared by 74% on Monday, representing the fourth-largest one-day gain since the company&#8217;s IPO in 2002. This surge trails only behind the spikes of 104% on Feb. 21, 2021, 135% on Jan. 27, 2021, and 93% on Jan. 26, 2021.
Similarly, other meme-related stocks experienced significant increases. AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) saw its shares climb nearly 80%, marking its most substantial single-day rise since June 2021, the third strongest in its history. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-1024x495.png" alt="" class="wp-image-335826" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13161419/image-65.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Meme-Stock Related ETFs Overview</h1>
Investors looking to capitalize on the volatility and potential high returns of these stocks can consider meme-stock-related exchange-traded funds (ETFs).

<h1 class="wp-block-heading">Schwab Crypto Thematic ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STCE#NYSE">STCE</a>)</h1>
<ul>
<li>Description: This ETF invests in key cryptocurrency companies and includes meme-related stocks, blending digital finance with viral market trends.</li>
<li>Top Holdings: MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), CleanSpark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), Marathon Digital Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>)</li>
<li>1-Day Return (May 13, 2024): 2.99%</li>
<li>Top Performers: AMC Entertainment Holdings, Inc., GameStop Corp., Beyond, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>)</li>
</ul>

<h1 class="wp-block-heading">SoFi Social 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFYF#NYSE">SFYF</a>)</h1>
<ul>
<li>Description: Tracks the top 50 stocks held in SoFi's self-directed accounts, highlighting popular choices among retail investors, including frequent meme stock picks.</li>
<li>Top Holdings: NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>1-Day Return (May 13, 2024): 2.1%</li>
<li>Top Performers: GameStop Corp., Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>), Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)</li>
</ul>

<h1 class="wp-block-heading">VanEck Vectors Social Sentiment ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUZZ#NYSE">BUZZ</a>)</h1>
<ul>
<li>Description: Utilizes AI to analyze online content and select the 75 large-cap stocks with the most positive investor sentiment each month, reflecting current market trends.</li>
<li>Top Holdings: Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</li>
<li>1-Day Return (May 13, 2024): 0.9%</li>
<li>Top Performers: Rivian Automotive, Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</li>
</ul>

Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38792909/bitcoin-mining-stocks-marathon-digital-riot-platforms-and-cleanspark-are-moving-monday-wha">Bitcoin Mining Stocks Marathon Digital, Riot Platforms And CleanSpark Are Moving Monday: What&#8217;s Going On?</a>
Photo: Shutterstock

Large Cap

Mid Cap

Specialty ETFs

Psychology

ETFs

BUZZ

BYND

BYON

CLSK

COIN

MARA

MRNA

MSTR

PARA

PARAA

SFYF

STCE

As 'Roaring Kitty' Returns, Here Are 3 ETFs To Leverage The 2024 Meme Stock Wave

Leading electric vehicle company Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is offering a new financing incentive for customers on the Model Y, joining the recent promotional offers on <a href="https://www.benzinga.com/news/earnings/24/01/36768363/tesla-q4-earnings-highlights-revenue-miss-eps-miss-model-y-a-global-bestseller-next-gen-vehicle-upd">the bestselling vehicle.</a>
What Happened: As Tesla addresses concerns about <a href="https://www.benzinga.com/news/24/03/37688367/electric-vehicle-market-slows-down-prompts-major-automakers-to-shift-strategy">electric vehicle demand</a>, the company has introduced a new financing offer on its website.
According to the company's <a href="https://www.tesla.com/modely">website</a>, consumers can purchase a Model Y at 0.99% APR financing for a limited time.
The offer is good from May 10 through May 31 according to the website.
With $13,500 in savings on the Model Y, the price is listed at $399 per month for the Model Y Long Range Rear-Wheel Drive model.
The financing rate is good for up to 72 months with $4,250 down and for qualified U.S. customers.
With federal tax credits and 5-year estimated gas savings, the Rear-Wheel Drive Model Y is listed at a starting price of $31,490 and the All-Wheel Drive is listed at $34,490.
Without the credits, the starting price for the Rear-Wheel Drive Model Y is $44,990 and the All-Wheel Drive version is $47,990.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Speeds Launch Of New Models</a>
Why It's Important: The new financing offer comes as many consumers are seeing higher rates when trying to buy a new vehicle.
The nearly one-month-long deal from Tesla, offered during the middle of its second quarter, aims to boost demand for the Model Y.
The Model Y was the bestselling vehicle in 2023 globally and is the<a href="https://www.benzinga.com/24/01/36496558/tesla-model-y-is-bestselling-electric-vehicle-of-all-time-passing-a-record-previously-held-by-the-mu"> top-selling electric vehicle</a> of all time.
Tesla fell short of Wall Street&#8217;s consensus estimates for first quarter deliveries. The latest financing offer,<a href="https://www.benzinga.com/news/24/05/38753412/you-can-now-save-1-000-on-your-7-seat-tesla-model-y-but-theres-a-small-catch"> following several previous deals</a>, may be intended to enhance second-quarter figures.
The electric vehicle company previously said that its 2024 vehicle growth rate would be "notably lower" than the 2023 growth rate.
TSLA Price Action: Tesla shares are up 2% to $172.39 on Monday versus a 52-week trading range of $138.80 to $299.29.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38411281/8-tesla-analysts-size-up-next-gen-vehicles-fsd-ai-and-more-potential-to-be-a-transf">8 Tesla Analysts Size Up Next-Gen Vehicles, FSD, AI And More: &#8216;Potential To Be A Transformational Technology Company, Deliver Outsized Returns&#8217;</a>
Image generated using artificial intelligence via Midjourney.

Tesla Defies Auto Industry Trends With 0.99% APR Model Y Financing Offer

All but two of the Magnificent Seven — Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) — issue dividends.
As an investor in these companies, here is how much you (and others) <a href="https://www.benzinga.com/dividends?date_sort=ex&amp;tickers=GOOG">could stand to gain</a>.
Microsoft Dividend: Microsoft will issue a dividend of 75 cents per share at a 0.74% yield on May 15. Its dividend yield has slowly trickled down in recent quarters even as the company raised its dividend from 68 cents to 75 cents in late 2023. Former CEO Steve Ballmer and founder Bill Gates are largest shareholders in Microsoft according to the latest SEC and Microsoft filings.
Apple Dividend: Apple issued a dividend of 25 cents per share at a 0.59% yield on May 10. While Apple has had a <a href="https://www.benzinga.com/government/24/01/36463729/apples-85b-services-business-in-crosshairs-of-legal-and-regulatory-rulings">rocky</a> year, the company increased its dividend in the first quarter by a cent. <a href="https://finance.yahoo.com/news/warren-buffett-apple-is-not-35-of-berkshires-portfolio-175313329.html">According</a> to Yahoo Finance, Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) holds approximately 5.8% of Apple&#8217;s shares even after recently <a href="https://www.benzinga.com/markets/equities/24/05/38630421/warren-buffett-confidence-in-apple-wanes-berkshire-cuts-stake-by-18-amid-tech-giants-troubles">trimming</a> its position. While CEO Warren Buffett famously does not pay dividends out of Berkshire earnings, he <a href="https://www.benzinga.com/trading-ideas/dividends/23/11/35593045/want-to-make-money-while-you-sleep-here-are-warren-buffetts-top-dividend-picks">enjoys</a> the dividend payments from several of his holdings.
Nvidia Dividend: Nvidia issued a dividend of 4 cents per share at a 0.02% yield on March 5. Its dividend has remained constant amid its <a href="https://www.benzinga.com/trading-ideas/24/05/38569426/nvidias-roller-coaster-ride-through-early-2024-sets-the-stage-for-a-potential-market-shakeup-as-inv">ballooning</a> share price and rapid growth. Co-founder and CEO Jen Hsun Huang is the <a href="https://www.benzinga.com/sec/insider-trades/0001197649/jen-hsun-huang">largest</a> individual shareholder of Nvidia with approximately 3% of shares.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38790019/april-inflation-data-preview-why-analysts-expect-economic-pressure-to-cool">April Inflation Data Preview: Why Analysts Expect Price Pressures To Cool</a>
Alphabet Dividend: Alphabet <a href="https://www.benzinga.com/trading-ideas/24/05/38569426/nvidias-roller-coaster-ride-through-early-2024-sets-the-stage-for-a-potential-market-shakeup-as-inv">announced</a> its first-ever dividend on April 25. The dividend, to be paid out on June 10, is 20 cents per share at a 0.5% yield. Co-founders Larry Page and Sergey Brin are the largest shareholders of Alphabet, according to SEC filings.
Amazon Dividend: Amazon has never issued a dividend. Founder and Executive Chairman Jeff Bezos repeatedly insisted on the importance of reinvestment in the company as part of his &#8220;Day One&#8221; <a href="https://www.benzinga.com/real-estate/24/04/38437205/jeff-bezos-has-been-predicting-amazons-inevitable-death-for-years-and-says-lifespans-of-large-compan">philosophy</a> even as the company reigns in billions in profit.
Meta Platforms Dividend: Meta Platforms paid out its first-ever dividend of 50 cents per share at a 0.51% yield on Feb. 21. Co-founder and CEO Mark Zuckerberg is <a href="https://www.benzinga.com/markets/equities/24/02/36903970/mark-zuckerberg-set-to-pocket-700m-annually-as-meta-declares-first-ever-dividend">estimated</a> to profit $700 million annually from Meta&#8217;s dividend program. Zuckerberg is the largest shareholder of Meta.
TSLA Dividend: Tesla has never issued a dividend and intends to reinvest profits for the foreseeable future.
Now Read: <a href="https://www.benzinga.com/markets/24/05/38793898/chatgpt-on-apple-iphone-make-or-break-data-for-stock-market-ahead">ChatGPT On Apple iPhone, Make Or Break Data For Stock Market Ahead</a>
Photo: <a href="https://www.shutterstock.com/g/gguy">gguy</a> via Shutterstock

Dividends

The Magnificent Seven: Here's How You Can Profit From Their Dividend Programs

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 often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<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>TSLA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$170.00</td>
<td>$25.6K</td>
<td>33.9K</td>
<td>92.0K</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$30.00</td>
<td>$55.5K</td>
<td>41.3K</td>
<td>43.2K</td>
</tr>
<tr>
<td>BABA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$85.00</td>
<td>$51.7K</td>
<td>23.8K</td>
<td>17.3K</td>
</tr>
<tr>
<td>NIO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$5.00</td>
<td>$39.5K</td>
<td>17.1K</td>
<td>2.8K</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$300.00</td>
<td>$27.8K</td>
<td>6.8K</td>
<td>1.8K</td>
</tr>
<tr>
<td>NKE</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$75.00</td>
<td>$35.5K</td>
<td>1.2K</td>
<td>987</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$180.00</td>
<td>$33.5K</td>
<td>20.4K</td>
<td>940</td>
</tr>
<tr>
<td>KMX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$85.00</td>
<td>$58.5K</td>
<td>18</td>
<td>835</td>
</tr>
<tr>
<td>DUOL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$180.00</td>
<td>$26.3K</td>
<td>751</td>
<td>374</td>
</tr>
<tr>
<td>CPNG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$26.00</td>
<td>$39.0K</td>
<td>2.5K</td>
<td>328</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• 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 4 day(s) on May 17, 2024. Parties traded 100 contract(s) at a $170.00 strike. The total cost received by the writing party (or parties) was $25.6K, with a price of $256.0 per contract. There were 33934 open contracts at this strike prior to today, and today 92049 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 sweep that happens to be bearish, expiring in 4 day(s) on May 17, 2024. This event was a transfer of 111 contract(s) at a $30.00 strike. This particular call needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $55.5K, with a price of $498.0 per contract. There were 41392 open contracts at this strike prior to today, and today 43224 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 4 day(s) on May 17, 2024. Parties traded 200 contract(s) at a $85.00 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 $51.7K, with a price of $258.0 per contract. There were 23850 open contracts at this strike prior to today, and today 17308 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 trade with bearish sentiment. It expires in 39 day(s) on June 21, 2024. Parties traded 500 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $39.5K, with a price of $79.0 per contract. There were 17174 open contracts at this strike prior to today, and today 2888 contract(s) were bought and sold. 
• For HD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), we notice a call option trade that happens to be bearish, expiring in 249 day(s) on January 17, 2025. This event was a transfer of 5 contract(s) at a $300.00 strike. The total cost received by the writing party (or parties) was $27.8K, with a price of $5570.0 per contract. There were 6851 open contracts at this strike prior to today, and today 1896 contract(s) were bought and sold. 
• For NKE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), we notice a put option trade that happens to be bullish, expiring in 67 day(s) on July 19, 2024. This event was a transfer of 987 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $35.5K, with a price of $36.0 per contract. There were 1229 open contracts at this strike prior to today, and today 987 contract(s) were bought and sold. 
• 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 bullish, expiring in 4 day(s) on May 17, 2024. This event was a transfer of 50 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $33.5K, with a price of $670.0 per contract. There were 20460 open contracts at this strike prior to today, and today 940 contract(s) were bought and sold. 
• For KMX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>), we notice a call option sweep that happens to be bearish, expiring in 39 day(s) on June 21, 2024. This event was a transfer of 585 contract(s) at a $85.00 strike. This particular call needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $58.5K, with a price of $100.0 per contract. There were 18 open contracts at this strike prior to today, and today 835 contract(s) were bought and sold. 
• For DUOL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>), we notice a put option trade that happens to be bullish, expiring in 4 day(s) on May 17, 2024. This event was a transfer of 94 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $26.3K, with a price of $280.0 per contract. There were 751 open contracts at this strike prior to today, and today 374 contract(s) were bought and sold. 
• Regarding CPNG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>), we observe a call option sweep with bullish sentiment. It expires in 186 day(s) on November 15, 2024. Parties traded 320 contract(s) at a $26.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $39.0K, with a price of $122.0 per contract. There were 2577 open contracts at this strike prior to today, and today 328 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 about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

CPNG

DUOL

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

Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reportedly started hiring back some of the around 500 members of its&nbsp;Supercharging&nbsp;team who&nbsp;were&nbsp;laid off&nbsp;last month.
Max de Zegher, the director of charging for North America, is among the personnel who have&nbsp;been re-hired by Elon Musk, said&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-13/tesla-rehires-some-supercharger-workers-weeks-after-musk-s-culling?srnd=all&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.&nbsp;
Apart from De Zegher, Rebecca Tinucci, the senior director, was fired&nbsp;late last month along with everyone else&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38541246/tesla-ceo-elon-musk-says-supercharger-network-will-still-grow-but-at-a-slower-pace-for-new-locations" rel="noreferrer noopener">on the&nbsp;Supercharging&nbsp;team.</a>
Notably, CEO&nbsp;Elon Musk&nbsp;fired 500 employees&nbsp;responsible for expanding the company's Supercharger network as part of Tesla's&nbsp;previously&nbsp;announced&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38587826/tesla-interns-face-the-heat-of-musks-budget-squeeze#" rel="noreferrer noopener">10% global workforce reduction</a>.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38745419/bp-wants-to-buy-tesla-supercharging-stations-after-elon-musk-fired-hundreds-of-employees-responsible" rel="noreferrer noopener">BP Wants To Buy Tesla Supercharging Stations After Elon Musk Fired Hundreds Of Employees Responsible For Charging Network Expansion</a>
Last week, Elon Musk announced plans to invest over $500 million in expanding the company's&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38757383/elon-musk-announces-500m-investment-in-teslas-supercharger-network-expansion-in-2024" rel="noreferrer noopener">Supercharger network this year</a>.
Tesla has been in the news recently for a series of layoffs across various divisions, including the advertising unit, and&nbsp;the&nbsp;latest round of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38757383/elon-musk-announces-500m-investment-in-teslas-supercharger-network-expansion-in-2024" rel="noreferrer noopener">layoffs&nbsp;was&nbsp;completed&nbsp;this month</a>.
In the past year, Tesla convinced competitors to embrace its plugs as an industry standard and&nbsp;signed a deal&nbsp;with several major manufacturers to open its network to their customers.
Tesla stock has gained more than 12% in the last 12 months. Investors can gain exposure to the stock via&nbsp;the Consumer Discretionary Select Sector SPDR Fund&nbsp;(XLY) and&nbsp;Fidelity MSCI Consumer Discretionary Index ETF&nbsp;(FDIS).
Price Action: TSLA shares are trading higher by 1.54% at $171.07 at the last check Monday.
Photo via Shutterstock

Tesla's Fire & Hire: Musk Brings Back Some Laid-Off Supercharger Team Employees

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
While institutional investors aren&rsquo;t required to file their first-quarter Form 13F until May 15, Baillie Gifford has, in usual fashion, filed its form ahead of the deadline. A 13F is a quarterly filing that reveals the equity and option trades of an institutional investor.



During the quarter, Baillie upped its stake in Rivian (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) stock by 714%, picking up <a href="https://whalewisdom.com/filer/baillie-gifford-co">22.19 million shares</a> compared to its Q4 ownership of 3.10 million shares. RIVN is now the firm&rsquo;s 86th-largest position.



On another note, Baillie cut its stake in Rivian competitor Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) by 4.59%, selling out of 857,832 shares. The firm still owns 17.83 million shares, making the electric vehicle (EV) leader its ninth-largest position.



Baillie first bought RIVN stock in Q4 2021, picking up 3.55 million shares. That means that it bought the EV company in the same quarter that it had its initial public offering (IPO). Since then, RIVN is down by over 90%.



<h2>RIVN Stock: Baillie Gifford Increases Stake by 714%</h2>



Baillie operates as a long-term investor with a focus in the technology sector. The decades-old firm is based in Scotland and had over <a href="https://www.bailliegifford.com/en/uk/individual-investors/about-us/philosophy-and-values/our-history/">$240 billion</a> in assets under management as of the end of 2023.



Baillie&rsquo;s increased stake in RIVN is a positive for shareholders who may want to stick with the company in the long run in hopes of increased demand and profitability. The firm has an average 13F holding period of 19.94 quarters, or about five years.



Meanwhile, Rivian recently reported its <a href="https://investorplace.com/2024/05/rivn-stock-alert-rivian-raises-demand-concerns-with-weak-production-forecast/">first-quarter earnings</a>. Its revenue grew by 82% year-over-year (YOY) to $1.204 billion, ahead of the analyst estimate for $1.17 billion. Unsurprisingly, the company is still unprofitable and reported an EPS loss of $1.48 per share, more than the analyst estimate for a loss of $1.15.



RIVN stock fell after the report, which was likely due to Rivian reiterating its 2024 production guidance of 57,000 vehicles. This didn&rsquo;t sit well for shareholders, as Rivian delivered 57,232 vehicles last year, signaling a lack of production growth in 2024. 



However, the company still has a few tricks up its sleeve. Its <a href="https://www.theverge.com/2024/3/8/24094270/rivian-r2-reservation-number-price-refund">R2 SUV</a> is slated to begin production during the first half of 2026 with an affordable price tag of $45,000.



On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. 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>Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace&rsquo;s Today&rsquo;s Market team, which centers on the latest news involving popular stocks.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/baillie-gifford-loaded-up-on-rivian-rivn-stock-in-q1/">Baillie Gifford Loaded Up on Rivian (RIVN) Stock in Q1</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Baillie Gifford Loaded Up on Rivian (RIVN) Stock in Q1

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Shares of Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) stock are down by about 35% both year-to-date (YTD) and year-over-year (YOY), and it appears that Scottish investment firm Baillie Gifford has had enough.



Baillie has filed its first-quarter Form 13F ahead of the May 15 deadline, revealing a major reduction in its NIO stake. A 13F documents an institutional investor&rsquo;s equity and option positions and must be filed each quarter.



As of March 31, Baillie owned <a href="https://whalewisdom.com/filer/baillie-gifford-co">18.90 million shares</a> of Nio, down by a significant 83.5%, or 95.73 million shares. That&rsquo;s compared to 114.63 million shares as of Dec. 31. Nio is now the firm&rsquo;s 130th-largest position with a 0.07% 13F portfolio allocation. Baillie first bought shares during Q3 2018, the same time that the Chinese electric vehicle (EV) company debuted its initial public offering (IPO). NIO stock is down by about 45% since then.



<h2>NIO Stock: Baillie Gifford Cuts Stake by 83%</h2>



Baillie also cut its stake in Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), although not by as much as Nio on a percentage basis. The firm owns 17.83 million shares of TSLA after parting ways with 857,832 shares, or 4.59% of its stake, during Q1.



Meanwhile, Rivian (NASDAQ:<a href="https://investorplace.com/stock-quotes/rivn-stock-quote/">RIVN</a>) seemed to <a href="https://investorplace.com/2024/05/baillie-gifford-loaded-up-on-rivian-rivn-stock-in-q1/">pique Baillie&rsquo;s interest</a> during the quarter. As of Q1, the firm owned 25.30 million shares of RIVN stock, up by 714% compared to its prior stake of 3.10 million shares.



Baillie&rsquo;s Nio sale may come as a surprise to some, but it is roughly in-line with its average 13F holding of about five years. According to WhaleWisdom, Baillie&rsquo;s 13F market value plunged to $129 billion from $205 billion during Q4. As a result, the firm may be taking a defensive stance following 2023&rsquo;s generous returns.



Meanwhile, a negative catalyst is on the horizon for Nio and any other Chinese EV company looking to expand into the United States. According to Financial Times, President Joe Biden&rsquo;s administration is set to <a href="https://www.ft.com/content/9b79b340-50e0-4813-8ed2-42a30e544e58">increase the tariffs</a> on imported Chinese EVs to 100% from 25% on Tuesday. The measure is meant to protect domestic EV companies from more affordable Chinese EVs.



The tariffs probably won&rsquo;t have an immediate financial effect on Nio, as the company&rsquo;s plans to <a href="https://electrek.co/2023/11/10/nio-slightly-backtracks-plans-north-americ-2025-seek-any-partnerships/">expand into the U.S.</a> are still unclear. The impending tariffs could also deter its expansion plans.



On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. 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>Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace&rsquo;s Today&rsquo;s Market team, which centers on the latest news involving popular stocks.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/05/baillie-gifford-slashed-its-stake-in-nio-stock-by-83-in-q1/">Baillie Gifford Slashed Its Stake in NIO Stock by 83% in Q1</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Baillie Gifford Slashed Its Stake in NIO Stock by 83% in Q1

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
As the S&amp;P 500 races toward new highs, some investors see small-cap value stocks as the best bet for long-term growth amid growing concerns about index-based stock concentration. As mega-caps like Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) disproportionately drive the S&amp;P 500&rsquo;s performance, the index becomes more vulnerable to fluctuations&mdash;a few missteps could significantly impact your entire portfolio.



In contrast, small-cap value stocks offer distinct advantages. They are small and nimble enough to adapt to changing conditions and offer long-term growth potential. Their value-oriented nature helps preserve capital, often providing solid income and dividends alongside steady upward momentum.



These stocks combine these qualities, making them excellent options for diversifying risks away from the few dominant &lsquo;Magnificent 7&rsquo; stocks that could otherwise dictate the fate of your portfolio.



<h2>Apartment Income REIT (AIRC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/reit-1600-300x169.png" alt="REITs to buy Real estate investment trust REIT on an office desk."><div>Source: Vitalii Vodolazskyi / Shutterstock</div></div>Higher interest rates usually suppress the new mortgage market and elevate rent levels in response to inflation, underscoring the robustness of small-cap value stock Apartment Income REIT (NYSE:<a href="https://investorplace.com/stock-quotes/airc-stock-quote/">AIRC</a>) in a high-interest-rate environment.



Over the past decade, Apartment Income has <a href="https://www.sec.gov/Archives/edgar/data/1820877/000095017021002654/airc-20210930.htm">strategically honed</a> its multifamily building portfolio, focusing on high-demand properties in urban areas with strong demographic growth. This approach secured consistently high occupancy rates and regular rent increases. Future demand for Apartment Income properties is likely to be driven by job and income growth, decreasing homeownership rates and the enduring appeal of urban living &mdash; all factors that intensify with rising interest rates.



Apartment Income REIT carefully refined its portfolio and operational strategy, reducing its property holdings from <a href="https://www.reit.com/investing/reit-directory/apartment-income-reit-corp">300 in 2008</a> to 75 today while maintaining a strong presence in key markets. This strategic shift highlights savvy management choices prioritizing quality and operational efficiency in preferred locations over mere expansion. By moving away from lower-growth regions, AIRC has enhanced its growth potential and fortified its resilience against interest rate fluctuations.



Apartment Income offers a 4.6% forward yield and a robust option for diversification among small-cap value stocks, maintaining strength even amid economic uncertainties.



<h2>Cricut (CRCT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/crct_cricut_1600-300x169.png" alt="A photo of someone using a Cricut machine."><div>Source: rblfmr/Shutterstock.com</div></div>Crafty folk and DIY creatives love Cricut (NASDAQ:<a href="https://investorplace.com/stock-quotes/crct-stock-quote/">CRCT</a>), but that doesn&rsquo;t mean the small-cap value stock gets the love it should from investors. Though revenue slid slightly in its most recent <a href="https://investor.cricut.com/news-releases/news-release-details/cricut-inc-reports-first-quarter-2024-financial-results">earnings report</a>, the company still offers investors a <a href="https://www.morningstar.com/stocks/xnas/crct/dividends">1.83% trailing yield</a>. It stands to gain from improving consumer sentiment, particularly as buyers seek stay-at-home activities to save money and maintain household budget management.



Overall sales dropped 8% in 2024 first quarter, though offset slightly by higher paid subscriber rates and higher machine sales &mdash; meaning more people began their Cricut journey over the past few months, and investors can expect a commensurate sales bump moving forward as new users restock and replenish crafting supplies.



If you&rsquo;re interested in buying into Cricut, now is the time. Management announced a special one-time dividend of $0.40 in the earnings report. Shareholders of record as of July 2nd will get the sizable distribution on July 19th, so there&rsquo;s still time to snag a piece of the action.



<h2>Medifast (MED)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/medical-biotech-stocks1600-300x169.png" alt="Healthcare business graph data and growth, Medical examination and doctor analyzing medical report network connection on tablet screen. VANI stock"><div>Source: PopTika / Shutterstock.com</div></div>Medifast (NYSE:<a href="https://investorplace.com/stock-quotes/med-stock-quote/">MED</a>) hasn&rsquo;t yet caught the wider weight loss wave affecting many pharma stocks. However, that doesn&rsquo;t mean there isn&rsquo;t a long-term opportunity for the nutrition and weight loss company to sell products across a range of platforms, including multi-level marketing.



The company&rsquo;s first-quarter <a href="https://ir.medifastinc.com/2024-04-29-Medifast-Announces-First-Quarter-2024-Financial-Results">earnings report</a> included a hefty $0.76 earnings per share. At the same time, its balance sheet boasts a respectable $150 million cash reserve with zero debt (important in today&rsquo;s high-rate environment). Executives are also fighting to differentiate themselves from larger weight loss competitors. 



They are angling for a more comprehensive and holistic approach to customer management, including guided habit development and bespoke coaching. To that end, management told investors to expect that &ldquo;2024 will be a year of investment for future growth.&rdquo; Though that may mean its <a href="https://www.morningstar.com/stocks/xnys/med/dividends">20% dividend yield</a> won&rsquo;t hold, it doesn&rsquo;t detract from the company&rsquo;s long-term upside potential.



<h2>Connexa Sports Technologies (YYAI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/sports-stocks-300x169.jpg" alt="Various sports equipment like a football, soccer ball and volleyball on green grass."><div>Source: Shutterstock</div></div>Connexa Sports Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/yyai-stock-quote/">YYAI</a>) is one of those deep-value stocks that seem to be amid a resurgence despite trading at a bottom-barrel 0.05x sales. Connexa targets specific sports, such as the increasingly popular pickleball in the U.S., padel in Mexico and perennially favored tennis, with a range of unique sports equipment storage products. 



A targeted approach helps Connexa to engage directly with consumers through high-quality advertising campaigns, ensuring product longevity and market growth. These style strategies position Connexa as a promising small-cap value stock, particularly as enthusiasm for outdoor sports increases during the spring and summer months.



In 2023, Connexa <a href="https://www.connexasports.com/wp-content/uploads/2023/11/Connexa-Shareholder_Ltr_Nov28_9am2023.pdf">warred with short sellers</a>, who drove its share price down by over 70%, leading to a reverse stock split. However, the tides shifted for the small-cap value stock after new strategic investors <a href="https://www.connexasports.com/wp-content/uploads/2024/03/Connexa-Shareholder-Ltr-7-March-2024.pdf">came on board</a>, boosting the stock&rsquo;s value by over 260% since January. This remarkable turnaround signals strong momentum for Connexa&rsquo;s future, especially as the summer sports season approaches and more consumers gear up for outdoor activities.



<h2>Garrett Motion (GTX)</h2>



<div><img width="300" height="164" src="https://investorplace.com/wp-content/uploads/2017/03/Nvidia-GTX-1080-price-cuts-amid-price-war-300x164.jpg" alt=""><div>Source: Nvidia</div></div>Garrett Motion (NASDAQ:<a href="https://investorplace.com/stock-quotes/gtx-stock-quote/">GTX</a>) brings major benefits to the small-cap value stock table: it trades at just <a href="https://www.morningstar.com/stocks/xnas/gtx/quote">7x earnings and 0.5x sales</a> while remaining an overlooked player within the green tech and sustainable driving sector. The company manufactures a range of automotive parts that enhance emission reductions and support zero-emission technologies, including alternative fuel engines and turbochargers for gasoline and diesel vehicles.



Though &ldquo;pure&rdquo; EV companies like Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) are currently losing favor due to declining consumer interest, as shown by the surge in hybrid and gasoline vehicle sales, Garrett Motion serves as a bridge for investors seeking long-term sustainability but recognizing that global EV adoption remains a long-term goal.



The recent dip in Garrett Motion&rsquo;s stock followed an <a href="https://investors.garrettmotion.com/news-releases/news-release-details/garrett-motion-reports-first-quarter-2024-financial-results">earnings report</a> that showed a 6% drop in quarterly sales; however, its annual sales were stable, and the company maintained healthy margins and free cash flow. This stock is underappreciated and undervalued as investors chase more conspicuous growth opportunities. Still, as automakers revise their EV planning timelines, expect Garret Motion to become a major small-cap value stock in tomorrow&rsquo;s market.



<h2>Costamare (CMRE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/costamare-cmre-1600-300x169.jpg" alt="Costamare Inc. website zoomed in on the logo"><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Even as challenges in seafaring shipping put competitor transport stocks at risk, containership chartering company Costamare (NYSE:<a href="https://investorplace.com/stock-quotes/cmre-stock-quote/">CMRE</a>) remains a robust and accurate small-cap value stock, <a href="https://www.morningstar.com/stocks/xnys/cmre/quote">trading at just</a> 0.6x book value and 6x earnings. Unfortunately, you&rsquo;ll need a little patience if you plan to wait for the company to return to past strength. Although global freight and charter prices spiked in early 2024, Costamare&rsquo;s status as a non-operating owner means its fleet is more than <a href="https://oilprice.com/Geopolitics/International/Red-Sea-Crisis-Spurs-Surge-in-Container-Ship-Rates.html">87% booked</a> for the remainder of the year, often at less-than-ideal pricing.<a href="https://investorplace.com/stock-quotes/-stock-quote/"></a>



Still, Costamare&rsquo;s management is adeptly adjusting operations, <a href="https://www.tradewindsnews.com/bulkers/costamare-speeds-up-small-bulker-sales-with-exit-of-nine-ships/2-1-1595016">divesting smaller ships</a> while acquiring larger vessels to enhance cost efficiency amid increasingly unpredictable naval transport due to geopolitical tensions.



Honestly, Costamare is an attractive buy at these levels, but investors should brace for a gradual build in upward momentum before the stock truly sets sail. In the meantime, Costamare&rsquo;s healthy <a href="https://www.morningstar.com/stocks/xnys/cmre/dividends">6% total yield</a> &mdash; split between buybacks and distributions &mdash; should satisfy shareholders in the short term.



<h2>Steelcase (SCS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/scs-stock-300x169.jpg" alt='An image of a smartphone displaying the text "Steelcase" in black font on a white screen, with a computer screen showing stock charts and a windows taskbar in the background.'><div>Source: IgorGolovniov / Shutterstock.com</div></div>High-end home office and corporate furniture manufacturer Steelcase (NYSE:<a href="https://investorplace.com/stock-quotes/scs-stock-quote/">SCS</a>) is an under-the-radar small-cap stock that offers stability and upside potential as the company adapts to changing conditions. The company has adeptly navigated the shift towards work-from-home trends post-pandemic and is poised to continue innovating in the face of economic challenges.



Steelcase rapidly regained financial stability following pandemic-related challenges. Its latest <a href="https://equityset.com/company/scs?tag=financials">quarterly earnings report</a> revealed a net income of $30.8 million, more than double the previous year&rsquo;s. Furthermore, the company has maintained steady sales of around $800 million over the past five quarters, showcasing its ability to enhance margins without sacrificing quality.



In response to the continued shift toward remote work, Steelcase aims for 5-7% annual sales growth and a 5% free cash flow margin as a percentage of revenue over the next five years. Additionally, the company has significantly cut its debt to better cope with the higher interest rate environment, thereby boosting liquidity and reducing interest costs. These strategic efforts position Steelcase as a top small-cap value stock today.



On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy&rsquo;s work can also be found at <a href="https://jeremyflint.work/">www.jeremyflint.work</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/pocket-sized-powerhouses-7-small-cap-value-stocks-ready-to-roar/">Pocket-Sized Powerhouses: 7 Small-Cap Value Stocks Ready to Roar</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Tariff Hikes On Chinese EVs May Prove To Be Futile

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>.

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AIRC

AMAT

AVGO

CENX

CMRE

COPX

CRCT

CSIQ

CSTM

EBAY

ENPH

FSLR

FUTU

INTC

KLAC

LRCX

NOVA

QCLN

RSPD

SEDG

STLD

TKAMY

TYEKF

UBER

XPEV

YYAI

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$DOGE

$ETH

BIDU

CDIO

CSE:SCPE

DYAI

INBS

KAVL

LISMF

NNOX

OCGN

ORGO

PLTR

SCPCF

SOUN

TSXV:LIS

VLCN

VTAK

Cenntro

Chijet Motor Company, Inc. - Ordinary Shares

Chijet Motor Co

ECD Automotive Design, Inc. - Common Stock

ECD Automotive Design

Envirotech Vehicles

Ford Motor

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Tesla Stock (NASDAQ:TSLA), Short Interest Report

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