tesla – CetoEX News Inform Trends & Happenings

Tesla Sold No Bitcoin in Q2 2023

Howdy — Thu, 20 Jul 2023 01:27:54 +0000

Cetoex News – Tesla, one of the leading automotive and clean energy companies owned by Elon Musk, announced today that none of their $333,000,000 Bitcoin (BTC) was sold in the second quarter of 2023. The company did not buy or sell any of its Bitcoin, according to its Q2 Update.

Tesla said its gross margin fell in the second quarter from the previous three months, squeezing the electric-vehicle maker’s efforts to boost sales through price cuts.

Tesla’s Bitcoin total rose from Q1’s $321,000,000 BTC up 22 million. Tesla hasn’t bought or sold any bitcoin since last year’s second quarter, when it sold more than 30,000 bitcoins, or roughly 75% of its holdings, for $936 million. The company initially bought $1.5 billion worth of Bitcoin in early 2021.

Source: Electrek

Shares were up/down 1% to $288.96 in after-hours trading. Shares are up more than 136% this year.

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esla to Reportedly Begin Making Electric Motors for Airplanes, Boats, and More

Howdy — Thu, 05 Jan 2023 03:36:53 +0000

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credit – Electrek.com

Tesla has been going through a rough patch by the end of 2022. The automotive firm had implemented a hiring freeze and also informed the employees of a layoff coming in the next quarter.

Amidst this Chaos, Electrek discovered that Tesla is branching out into other productions. According to the findings by Electrek, Tesla has hinted at its interest in manufacturing electric motors for airplanes, boats, and more.

Tesla’s new trademark filing is under “not for land vehicles”

Tesla and its new trademark filing didn’t get much media attention and went unnoticed until Electrek came across it. The filing by the automotive firm is under the trademark category “nor for land vehicles.”

The trademark filing states:

“TESLA trademark registration is intended to cover the categories of asynchronous motors not for land vehicles; Motors for airplanes; Motors, namely, synchronous motors not for land vehicles; Permanent magnet motors; Boat motors; Drive system having two or more synchronous motors coupled through clutches to drive a common load; Electric motors for toys; Linear motors.”

Source: CNET

According to the trademark, Tesla intends to use the trademark for these categories in the future. It is unsure when Elon Musk’s firm plans to manufacture the motors for these categories.

Despite all of this, Tesla had been going through a rough patch as Musk recently required the executives to lay off 10% of the firm’s employee count. Tesla’s stock has also been sliding on Tuesday with a drop of 14%. However, at press time, it was up by 5.28%.

NEWS BY – CETOEX NEWS

Tesla Market Cap Falls Below $500 Billion for the First Time in 2 Years

Howdy — Wed, 14 Dec 2022 02:06:05 +0000

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Cetoex News – For the first time in over two years, Companies Market Cap has recorded the Tesla market capitalization has fallen below $500 billion. The company currently sports a market cap of $493.37 billion as of the time of publication.

Tesla Market Cap Lowest Since 2019

There are few American manufacturers as well known as Tesla. The company founded by the richest man in the world, Elon Musk, has been a staple in the development of automobile technology. Subsequently catapulting it to a wide range of tech advancements.

That company has consistently been among the highest market capitalization numbers of any major brand for the past four years. Conversely, the Tesla market cap has fallen below $500 billion for the first time in two years today.

The number is the company’s lowest since 2020. Moreover, that year saw a 783% increase from 2019; raising it from a market cap of $75 billion to $668.9 billion. That year preceded the record high of $1.1 trillion set in 2021.

The man at the head of Tesla has undoubtedly had his hands full in recent months. With the $44 billion acquisition of Twitter, Elon Musk has certainly made headlines for developments unrelated to Tesla. Yet, both companies represent a fraction of the work Musk is doing in the technological sphere.

Still, Tesla remains in the top 10 of companies’ market cap data. It will be interesting to see how the company responds, and what derivatives could have factored into the dip.

NEWS BY – CETOEX NEWS