Tesla’s Q1 earnings report paints a mixed picture for investors. While the company touts future advancements in autonomy and new products, current financials show a decline in profits and deliveries. Key takeaways: Profits dropped 55% YoY: Tesla’s profits fell to $1.13 billion, significantly lower than analyst expectations. Revenue dipped 9%:Continue Reading
Piedmont Lithium Gets Green Light for N.C. Lithium Mine, But Challenges Remain Piedmont Lithium (PLL.O), a supplier to Tesla (TSLA.O), has received a key permit from North Carolina regulators to develop a major lithium mine. This mine has the potential to be one of the largest sources of lithium inContinue Reading
Tesla Slashes Workforce by Over 10%, Prepares for “Next Phase of Growth” Electric vehicle giant Tesla announced a significant workforce reduction exceeding 10% globally, according to a company memo from CEO Elon Musk. The news comes amidst a backdrop of declining stock prices and production challenges. Cost Cutting and IncreasedContinue Reading
Investors are shifting from Tesla to Eli Lilly as the latter’s diabetes and weight loss drugs rake in huge profits. Tesla’s market value dropped by $210 billion (27%) in the first five weeks of 2024, while Eli Lilly’s rose by $140 billion (23%). Eli Lilly’s shares surged 5% on strongContinue Reading
