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U.S. agency opens probe into 115,000 Tesla vehicles over suspension issue – CNBC

A Tesla Model S at a charging station in Beijing, China.

Meghan Reeder | CNBC

The U.S. National Highway Traffic Safety Administration (NHTSA) on Friday said it had opened an investigation into about 115,0000 Tesla vehicles over front suspension safety issues.

The agency said it was opening a preliminary evaluation into 2015-2017 Model S and 2016-2017 Model X vehicles after receiving 43 complaints alleging failure of the left or right front suspension fore links.

Tesla in February 2017 issued a service bulletin describing a manufacturing condition that may result in front suspension for link failures, NHTSA said.

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U.S. agency opens probe into 115,000 Tesla vehicles over suspension issue - CNBC

Tesla and Volkswagen to compete with new affordable electric cars at ~$25,000 to $30,000 – Electrek

The electric car market is about to be accessible to a lot more people as weve now learned that Tesla and Volkswagen, the two market leaders for electric vehicles, have now both greenlit electric car programs that are going to start at ~$25,000 to $30,000.

In surveys about going electric, the price of new electric cars is always one of the top concerns of new buyers.

When it comes to the luxury segments, many electric vehicles have caught up in price and performance with their fossil fuel-powered counterparts.

However, this becomes less true down market with some exceptions.

Improvements in battery technology are now starting to enable automakers to reach higher performance, specifically longer ranges, at a lower price point in electric vehicles opening EV ownership to more people.

Now two major electric automakers have announced compelling electric vehicle programs that should start between ~$25,000 to $30,000.

In September, Tesla announced that it will make a new smaller long-range electric car with its new battery technology starting at $25,000.

CEO Elon Musk commented in the announcement:

Tesla will make a compelling $25,000 electric vehicle that is also fully autonomous.

Musk also added that the new $25,000 electric car is going to come to market in about three years, when Tesla has ramped up production of its new battery cell.

Now Volkswagen is apparently joining the race down market for new small electric cars.

Reuters reports today that VW has greenlit a new small BEV vehicle program that would start at a price of $24,000-30,000:

Under the project dubbed Small BEV (Battery Electric Vehicle), engineers are racing to develop a purely-battery powered car around the size of a Polo which will be available for between 20,000 and 25,000 euros ($24,000-30,000).

VW recently launched the ID.3 electric car, which starts closer to the equivalent of $34,000 USD though its not sold in the US.

It closer in size to the VW Golf while the VW Polo is a bit smaller in size:

Theres no word on when VW plans to bring to market the new cheaper electric car.

I wouldnt be surprised if they aim to bring it to market on a similar timeline as Teslas new cheaper electric car.

Right now, I would expect these vehicles to come in 2024-2025, which is also when I believe theres going to be a massive market demand shift from gas-powered cars to electric vehicles.

While there are gasoline vehicles starting at much cheaper than $25,000, none of them will be competitive on the cost of ownership over a 5- to 10-year period with a compelling $25,000 electric car, especially when you account for the resale value.

This will result in a massive demand shift where the vast majority of new car buyers are going to understand that their next vehicle has to be electric.

Of course, at that point, there will already be a lot of very compelling electric options in virtually all segments of the auto industry.

While we are still talking about 4 to 5 years away, the unveiling of those two cheaper vehicles from Tesla and VW and the start reservations are going to be important events that I believe will give us a glimpse at that demand shift.

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Tesla and Volkswagen to compete with new affordable electric cars at ~$25,000 to $30,000 - Electrek

The Tesla Model B is an electric bicycle concept that’s futuristic on the inside and out – Yanko Design

If I had to condense Teslas ethos into a single phrase, it would arguably be to bring advanced technologies to the world of automotives to make transportation efficient, safe, and convenient. Whether its the electric powertrains, the efficient batteries, the advanced hardware/software, or the fact that Tesla is spearheading the self-driving movement, its safe to say that the company has gone above and beyond to change the face of how we get from A to B. In that very vein, the Tesla Model B concept by Kendall Toerner brings Teslas advanced approach to the category of bicycles.

The Model B forms a bridge between conventional bicycles and road-vehicles, with a design that, like cars, is designed to be safer, more efficient, and less energy-intensive. The Model Bs sleek frame comes with forward, side-facing, and rear proximity and LiDAR sensors that scan the surroundings to create a protective bubble around the rider, alerting them of any obstacle. Each wheel comes with its own dedicated motor, forming the Model Bs dual-drive system. Spokes on the wheels are replaced by shock-absorbers, helping keep your ride smooth.

The frame of the e-bike also integrates foldout footrests and handlebars. The handlebars dont independently rotate, but rather detect force, allowing you to turn by simply applying more force on a particular side. The front-wheel turns independently, based on handle force input. The Model B also comes with its own autopilot feature that lets the bikes own AI take over, using the multiple sensors on its frame as its eyes to maneuver the bicycle safely. A slick dashboard sits flush within the bikes frame, allowing you to see bike stats as well as set navigation for your own reference, or for the Tesla autopilot. The Model B sports a stormtrooper color combo of white with black accents, although Id love to see one with a nice hot red paint job!

Designer: Kendall Toerner

Dual Drive Motors Two independent motors afford the user power to get up any hill or out of dangerous situations. The bike has full autonomy to get the user out of harms way or guide them effortlessly to their destination.

A Simplified Experience An integrated display makes it easy to navigate, control and customize the bike. The force detecting solid-state handlebars and footrests fold out from the body.

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The Tesla Model B is an electric bicycle concept that's futuristic on the inside and out - Yanko Design

Tesla Is Working on 620-Mile Range for Future Cars, Upcoming Semi – Car and Driver

Range is still important to potential EV buyers. At least Tesla seems to thank so. During an interview as part of the European Battery Conference, Tesla CEO Elon Musk said that some of the vehicles in the company's current lineup could hit more than 430 miles of range and that the company is working on a 621-mile-range vehicle.

"We even have some under development that could do 1000 kilometers [621 miles]," Musk said during a video call about the company's plans which was focused on the Europe market. The CEO followed up that information by saying that the priority is on bringing down costs of these vehicles. That includes increasing energy density in packs, "so that everyone can afford to buy an electric car."

The CEO said that the long-term goal would be to bring down the battery pack's cost per kilowatt-hour. Experts believe that getting battery pack costs down to $100 per kWh would bring the cost of EVs down to gas-powered vehicles' levels. Tesla also builds its own powertrain, which could give it a leg up over automakers that use off-the-shelf components from suppliers.

Musk has previously talked about bringing a $25,000 EV to market. Making a smaller vehicle is also something the company is thinking about for the Europe market. The Tesla CEO noted how difficult it is to find parking for the Model X in Berlin because of its size.

"In Europe, it would make sense to do a compact car, perhaps a hatchback," Musk said. While that doesnt mean a hatchback is definitely coming to Europe, it is a possibility and maybe, just maybe, the United States could get a hot EV hatch from the automaker if enough people hassle Musk on Twitter.

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As for the Tesla Semi, Musk said that the company sees "a path over time to 1000 kilometers [621 miles] for a heavy-duty truck." Musk said that achieving 800 km (427 miles) would be easy to achieve. The trucks are expected to haul 40 tons. "We think this will be compelling to trucking companies," he said.

Like all of these pieces of news, the range relies on high-density battery packs. Of course, to achieve this you need a larger battery, which adds weight. Musk noted that the trucks will initially have to haul approximately an additional ton to achieve their target range. "You are able to carry basically the same cargo as a diesel truck. We think that maybe theres a one-ton penalty. Maybe. At this point, we think that we can have less than one-ton cargo reduction, and we think long term it's going to be zero cargo reduction for electric trucks."

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Tesla Is Working on 620-Mile Range for Future Cars, Upcoming Semi - Car and Driver

Tesla’s market value tops $500 billion for the first time – CNN

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","descriptionText":"The Mini John Cooper Works GP doesn't come with back seats and only 3000 will be made, but that shouldn't stop you from taking a ride in one. 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Tesla's market value tops $500 billion for the first time - CNN

This Under-the-Radar COVID Vaccine Stock Has a Tesla Tie-In – Motley Fool

Tesla (NASDAQ:TSLA) is sizzling-hot right now. It will soon become the latest addition to the S&P 500. The company reported record revenue and earnings in the third quarter of 2020. ItsCEO, Elon Musk, just edged out Bill Gates to become the second-richest person in the world, thanks to his Tesla stock skyrocketing.

It seems that nearly anyone or anything connected with Tesla achieves success. That could be fantastic news for one biotech that's closing in on the leaders in the race to develop a coronavirus vaccine. CureVac (NASDAQ:CVAC) is something of an under-the-radar COVID-19 vaccine maker for U.S. investors, but it's the only one to have a bona fide Tesla tie-in.

Image source: Tesla.

You might think it's a big stretch for an electric vehicle company like Tesla to have anything to do with a biotech developing a coronavirus vaccine. Once you understand a few key things about CureVac and Tesla, the connection between the two companies will make sense.

Like Modernaand Pfizer'spartner BioNTech, CureVac develops vaccines and therapies based on messenger RNA (mRNA). This mRNA approach holds significant potential in immunizing against infections by multiple types of viruses as well as treating other diseases, including cancer.

In 2019 (well before the COVID-19 pandemic struck), CureVac won $34 million in funding from the Coalition for Epidemic Preparedness Innovations (CEPI) to build a prototype mRNA "printer." The idea was to create a device that could produce mRNA doses for use in regions with viral outbreaks and in hospitals for making personalized medicines.

An mRNA printer would be a revolutionary leap forward in fighting viral disease, especially in remote areas. As you might expect, though, there are plenty of technological hurdles to developing the device.

That's where Tesla enters the picture. Three years ago, Tesla acquired Grohmann Engineering, a German company that specializes in automated manufacturing. After CureVac received CEPI funding to build a prototype mRNA printer, Tesla Grohmann Automation was the logical partner to turn to for help.

So far, CureVac hasn't said very much on how the effort to develop an mRNA printer is going. We'll have to wait and see if Tesla's magic will show up once again by helping the biotech achieve a breakthrough.

However, CureVac won't need Tesla's Midas touch to succeed with its bigger story. It's one of only three companies with COVID-19 vaccine candidates currently in phase 2 testing. The other two are Chinese drugmakers. This puts CureVac's vaccine candidate CVnCoV behind only five others in late-stage testing that could be commercialized in major Western markets.

CureVac plans to advance CVnCOV into a pivotal phase 2b/3 clinical study by the end of 2020. If all goes well, the biotech seems likely to become one of the biggest COVID vaccine winners.

The company recently lined up an agreement with the European Commission to supply up to 225 million doses of CVnCOV (assuming it secures regulatory approval). The deal includes an option for the EC to buy an additional 180 million doses. Although no financial details were revealed, CureVac likely stands to make several billion dollars in 2021 if CVnCOV is proven to be safe and effective in late-stage testing.

CVnCOV can be stored at standard refrigerator temperatures for up to three months and for up to 24 hours at room temperature. This could give it an advantage over vaccines such as Pfizer's and BioNTech's BNT162b2, which must be stored at ultracold temperatures.

Success for CVnCOV could bode well for the rest of CureVac's mRNA pipeline. The company is evaluating a rabies vaccine and two cancer immunotherapy candidates in phase 1 clinical studies. CureVac also has several other preclinical programs.

It's still too early to know for sure if CVnCOV will achieve similar efficacy to the results announced by Pfizer and Moderna. However, CureVac is without question a biotech stock for investors to keep on their radars.

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This Under-the-Radar COVID Vaccine Stock Has a Tesla Tie-In - Motley Fool

Watch Tesla Full Self-Driving Beta yield for pedestrian in intersection that would give some humans pause – Electrek

Tesla is currently improving on its Full Self-Driving Beta software with new updates and we are catching glimpses of what it can do in the early access program.

Now we see a quick new video of the Tesla FSD Beta yielding for a pedestrian in an intersection that would give some humans pause.

Last month, Tesla started torelease its first Full Self-Driving Beta software updateto a limited group of owners to test the feature.

Over the last few weeks, the automaker has been releasing software updates to the new feature with bug fixes and new capabilities based on the feedback of the early beta testers.

These improvements are expected to lead to a wider release of Teslas Full Self-Driving Beta software, which enables Teslas Navigation on Autopilot feature to drive autonomously on city streets with driver supervision, in December, according to CEO Elon Musk.

In the meantime, we rely on videos from owners in the limited release early access program to see how the beta is performing.

In a new video from Chuck Cook, Teslas Full Self-Driving Beta is navigating a strange intersection with a stop and a yield on the other side.

Right as the vehicle entered the intersection, a pedestrian showed up on the other side and it looks like Teslas Full Self-Driving Beta yielded for them from the other side:

This intersection would give plenty of human drivers a pause and it looks like Teslas Full Self-Driving Beta was able to handle nicely.

However, there werent any other vehicles going through the intersection, which would have increased the complexity of navigating it.

On top of the US market, Musk also recently said that Tesla will next release the FSD Beta update to Canada and Norway.

This week, the CEO added that the first release in Canada could happen in December.

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Watch Tesla Full Self-Driving Beta yield for pedestrian in intersection that would give some humans pause - Electrek

From Tesla and Rivian to Ford and GM: Take a look at the electric trucks automakers are planning – CNBC

From electric car startups to the old-school Detroit auto giants, the automotive industry is gearing up for a battle royale as companies race to deliver the first all-electric pickup truck to the mass market.

The best-selling vehicle in the U.S. is a pickup truck (Ford's F-150). Meanwhile, electric vehicle sales have been steadily rising for years, with some analysts expecting those numbers to jump by nearly 40% globally in 2021, topping 3 million electric vehicles sold around the world.

So, it was just a matter of time before automakers began flooding the market with electric trucks.

On Monday after selling out reservations for its first set of R1T pickups Rivian opened another round of pre-orders. Elon Musk and Tesla generated buzz with the wild (and smashing) unveiling of the Tesla Cybertruck in November 2019. And, Ford has also said the electric version of its best-selling F-150 will finally be available in 2022.

Here's a look at some of the most anticipated electric pickups set to hit the market over the next few years.

Rivian is a startup that's looking to take down major players in the electric vehicle market. The Irvine, California-based electric automaker has raised roughly $6 billion from investors that include the likes of Amazon and Ford (which is partnering with Rivian on electric battery technology). Amazon has ordered 100,000 Rivian electric delivery vans, and the e-commerce giant plans to start deploying the vehicles in 2022.

Rivian R1T electric truck

Source: Rivian

Meanwhile, the Rivian R1T could be the first electric pickup to hit the market when it's expected to arrive in early- to mid-2021. The pickup will have a base price of $69,000 and a top speed of 125 miles per hour (like the Hummer EV, it will also go from zero to 60 MPH in 3 seconds). The truck will also come with three different battery options, offering a low-end range of 240 miles per charge and a high-end range of more than 400 miles.

Rivian said recently that the company had sold out its reservations for the first set of R1T pickups to be delivered in 2021 (customers who pre-ordered the trucks had to plunk down a $1,000 deposit), though the company hasn't revealed how many pre-orders its received in total. For Rivian's current round of pre-orders for pickups, customers can customize their trucks by color and battery size (and can even add a pull-out camping kitchen for $5,000). But those pickups likely won't be delivered at least the beginning of 2022 due to limited production capacity, the company recently told Bloomberg.

Ford's F-150 pickup truck has been the best-selling vehicle in America for nearly four decades (the company's F-series trucks sold nearly 900,000 vehicles in 2019), so it's no surprise that the truck's electric version is highly anticipated. The company has already unveiled plans for electric versions of other Ford vehicles, including the iconic Mustang sports car and an electric transit van.

Set to hit the market in the middle of 2022, Ford has promised that the electric F-150 will be "a very fun truck" to drive and that it will feature dual electric motors and a large front trunk with hundreds of pounds of storage capacity. The company also boasted about the electric truck's power in 2019 by tweeting a video of an electric F-150 prototype towing a payload of double-decker rail cars containing 42 pickups weighing a total of 1.25 million pounds.

Ford has not yet revealed the full extent of the electric F-150's specs, or how much the electric pickup will cost.

Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif. The cracked window glass occurred during a demonstration on the strength of the glass.

Robert Hanashiro | USA TODAY | Reuters

Musk unveiled the much-anticipated Cybertruck (with a futuristic design inspired by two films: "Blade Runner" and "The Spy Who Loved Me") a year ago at a press event that also saw him accidentally shatter two of the electric truck prototype's supposedly unbreakable windows with a steel ball.

The Cybertruck has a starting price of $39,900 for a single-motor version of the pickup and is expected to begin production in late-2021. The single-motor Cybertruck will have a range of 250 miles per charge, while a more expensive three-motor version (expected to begin production in 2022) will have a range of 500 miles.

Not looking to get left behind in the battle to dominate the electric vehicle market, General Motors said this month that it plans to spend $27 billion on all-electric and autonomous vehicles through 2025. In October, GM unveiled a prototype for an electric Hummer, which the company described as "the world's first supertruck."

Expected to begin production at the end of 2021, the GMC Hummer EV pickup will start at $112,595 and will have a top range of 350 miles per charge, as well as the ability to accelerate from zero to 60 MPH in just 3 seconds, according to the company.

2022 GMC Hummer EV sport utility truck "Edition 1"

GM

Meanwhile, GM also recently confirmed that the company's Chevrolet brand will produce an electric pickup truck to compete with rivals like Ford and other electric pickups. While full details are not yet known, the company announced plans this summer to produce an electric pickup, called the Chevrolet BET Truck, that will get more than 400 miles of range per charge.

GM had also considered an investment in Rivian, but that partnership fell through when GM wanted exclusive rights to the startup's technology, CNBC previously reported.

Other competitors in the electric pickup market expected to launch in the coming years include Ohio-based Lordstown Motors, which plans to begin delivering its all-electric Endurance pickup by September 2021. The pickup has a starting price of $52,500, a range of more than 250 miles and an engine with 600 horsepower.

Michigan-based startup Bollinger Motors also plans to release its all-electric B2 pickup in 2021, with a starting price around $125,000 and a roughly 200-mile range on 614 horsepower.

Nikola Motor Company Badger pickup truck

Source: Nikola Motor Company

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From Tesla and Rivian to Ford and GM: Take a look at the electric trucks automakers are planning - CNBC

Stocks making the biggest moves midday: Amazon, Tesla, AstraZeneca, Carnival & more – CNBC

An Amazon.com Inc worker prepares an order in which the buyer asked for an item to be gift wrapped at a fulfillment center in Shakopee, Minnesota, U.S., November 12, 2020.

Amazon.com Inc | Reuters

Check out the companies making headlines in midday trading.

Moderna The drugmaker's stock jumped 11% after AstraZeneca's CEO said the company would run another trial on its coronavirus vaccine candidate amid questions over the drug's effectiveness. Pizer and BioNTech, which are also working on their own vaccine, gained 1.7% and 3.1%, respectively.

Lowe's, Home Depot, Gap Shares of retailers rose due to investor optimism around shopping for the Black Friday holiday. Shares of Lowe's rose about 1% and Home Depot ticked about 0.5% higher. Gap, TJX Companies, Dick's Sporting Goods, Etsy and toymaker Hasbro all rose on Friday in midday trading.

Amazon Shares of Amazon gained about 0.9% as investors cheer what is expected to be a strong holiday shopping season for the e-commerce giant. Wall Street firm Truist estimated that Amazon will claim 42 cents of every dollar spent during the full year-end shopping season as the pandemic forces many Americans to shop online.

Tesla Shares of Tesla jumped more than 3%, bringing its weekly gains to more than 21% and its rally this year to 600%. The stock has been on a tear after it was selected for inclusion in the S&P 500 benchmark. The electric car-maker, which is worth more than $560 billion, could end Friday with a larger market cap than Warren Buffet's Berkshire Hathaway.

AstraZeneca The biopharmaceutical stock slipped 0.7% after AstraZeneca's CEO told Bloomberg News that the company would run another phase-three trial for its Covid-19 vaccine candidate. A dosing error in the first trial resulted in patients receiving a smaller amount of the vaccine, though that appeared to be more effective than the full dosage.

Carnival, MGM Resorts, Delta Air Lines Shares of stocks that hinge on the economy reopening rose amid a week of positive vaccine developments. Carnival rose more than 2.5% and Norwegian Cruise Line and Royal Caribbean gained 2% and 1%, respectively. Casinos stock MGM Resorts popped 2.7% and Wynn Resorts rose more than 2%. Delta Air Lines and United Airlines rose about 1% a piece, with American Airlines gaining over 2%.

Mesa Air Group Shares of the regional airline popped nearly 3% following news that billionaire investor Ron Burkle owns a 7.8% stake in the company, an SEC filing showed. The stock is down nearly 30% in 2020 as the pandemic hit air travel.

CNBC's Maggie Fitzgerald, Jesse Pound and Fred Imbert contributed reporting.

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Stocks making the biggest moves midday: Amazon, Tesla, AstraZeneca, Carnival & more - CNBC

These 11 EV Startups Are Chasing Tesla. They Cant All Win. – The Wall Street Journal

The race is on to become the next Tesla Inc. Tens of billions are riding on the outcome.

Investors from Wall Street to the Motor City are betting that a field of electric-car startups can emulate the rise of Elon Musk, who sits at the wheel of a company that is on track to sell 500,000 battery-powered vehicles this year and turn its first-ever annual profit. His Teslascheduled to join the S&P 500 next monthis now more valuable than Toyota Motor Corp., Volkswagen AG, General Motors Co. and Ford Motor Co. combined.

It...

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These 11 EV Startups Are Chasing Tesla. They Cant All Win. - The Wall Street Journal

One theory on why Tesla is back to a record high – CNBC

Tesla CEO Elon Musk talks to media as he arrives to visit the construction site of the future US electric car giant Tesla, on September 03, 2020 in Gruenheide near Berlin.

Odd Andersen | AFP | Getty Images

(This story is for CNBC Pro subscribers only.)

For investors amazed at Tesla's 20% rally this week alone after its long-anticipated S&P 500 inclusion, here's a theory about why the stock just keeps going higher.

Read more:

One theory on why Tesla is back to a record high - CNBC

Tesla’s wild rise and European plan – Axios

Data: FactSet; Chart: Axios Visuals

Tesla's market capitalization blew past $500 billion for the first time Tuesday.

Why it matters: It's just a number, but kind of a wild one. Consider, via CNN: "Tesla is now worth more than the combined market value of most of the world's major automakers: Toyota, Volkswagen, GM, Ford, Fiat Chrysler and its merger partner PSA Group."

What's new: Tuesday also brought some more nuts and bolts Tesla news. CEO Elon Musk said they're planning a small car for European markets to be built at its upcoming German factory, per Bloomberg.

The big picture: Stocks move around for all kinds of reasons, but it's safe to say that investors see lots of growth potential for Tesla and EVs in general, particularly with tailwinds from Joe Biden's win.

Between the lines: Tesla's market stature is also benefitting from its upcoming arrival in the S&P 500. Business Insider looks at what's in store...

Of note: Tesla is not alone. The share price of several public EV companies have been rising, and a whole bunch of others are about to go public.

What we're watching: How much Biden boosts U.S. deployment beyond the existing trajectory.

The intrigue: Wedbush Securities analyst Dan Ives, in a note and email exchange, said GOP lawmakers could be on board with some kind of new EV incentives.

The bottom line: Overall, he sees lots of coming demand.

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Tesla's wild rise and European plan - Axios

Stocks making the biggest moves midday: Tesla, Dollar Tree, Carnival, Best Buy and more – CNBC

A salesman carries a Best Buy shopping basket in San Francisco, California.

Getty Images

Check out the companies making headlines in midday trading.

American Airlines, United Airlines, Carnival Airlines and cruise stocks surged on Tuesday as stocks tied to an economic recovery continued to rise after a series of positive vaccine announcements. Shares of American and United both jumped more than 9%, while Carnival led the way for cruise stocks with an 11.3% gain.

Tesla Shares of the electric vehicle company jumped 6.4% to hit a record high as investors continue to favor the stock. The move pushed Tesla's market cap above $500 billion for the first time on record. Shares have gained more than 550% this year.

Best Buy Shares of Best Buy dropped 7% after the retailer sounded alarms on the headwinds from higher shipping costs, inventory challenges and lower-margin holiday sales. Best Buy also declined to provide guidance for the fourth quarter due to the uncertainties from the pandemic. The company reported better-than-expected earnings amid strong online sales in the third quarter.

Dollar Tree Shares of the discount retailer jumped 14.1% on the back of quarterly results that beat analyst expectations. Dollar Tree reported third-quarter earnings of $1.39 per share on revenue of $6.18 billion. Analysts polled by FactSet expected a profit of $1.15 per share on revenue of $6.13 billion. Same-store sales for the company increased by 5.1% on a year-over-year basis, topping a forecast of 4.7%.

Hormel Foods Shares of the food company lost 5.6% after missing on the top and bottom lines of its quarterly results. Hormel reported earnings of 43 cents per share on revenue of $2.42 billion. Analysts expected earnings of 44 cents on revenue of $2.59 billion, according to Refinitiv.

Abercrombie & Fitch Abercrombie shares fell 1.2% after the company announced an early exit from four of its European flagship locations. The company said the move was part of its plan of "repositioning from larger format, tourist-dependent flagship locations to smaller, omni-enabled stores that cater to local customers."

Ambarella The semiconductor stock jumped 15.3% after Ambarella beat Wall Street expectations in its third quarter report. The company reported 9 cents in adjusted earnings per share and $56.1 million in revenue. Analysts surveyed by FactSet were looking for 5 cents per share and $54.1 million in revenue. Fourth quarter guidance was also above expectations.

Medtronic Shares of Medtronic popped 2.8% following its better-than-expected earnings. The medical technology company reported earnings of $1.02 per share, topping estimates of 80 cents per share, according to Refinitiv. Revenue came in at $7.65 billion, higher than the forecast $7.1 billion.

Urban Outfitters Shares of Urban Outfitters fell 4.8% despite its quarterly results that exceeded analysts' expectations. The apparel retailer reported quarterly earnings of 78 cents per share, beating the 45 cent consensus estimate, according to Refinitiv. Its revenue also came in above forecasts.

with reporting from Pippa Stevens, Yun Li and Jesse Pound.

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Stocks making the biggest moves midday: Tesla, Dollar Tree, Carnival, Best Buy and more - CNBC

Tesla, Inc. (TSLA) Stock Price, News, Quote & History …

Bloomberg

(Bloomberg) -- Tesla Inc. Chief Executive Officer Elon Musk has spent years mocking the idea of using hydrogen fuel cells rather than electric batteries to power next-generation green vehicles. Fuel cells = fool sells, the boss of the worlds top electric-car maker tweeted in June.China, the worlds biggest market for electric vehicles, isnt so quick to dismiss the alternative to batteries. Officials are promoting the development of hydrogen-powered cars, trucks and buses, with Beijing offering to reward cities that achieve adoption targets.In a 15-year plan for new-energy vehicles released on Nov. 2, Chinas State Council said the country will focus on building the fuel-cell supply chain and developing hydrogen-powered trucks and buses. President Xi Jinping in September set a 2030 deadline for China to begin reducing carbon emissions.Hydrogen is expected to play a much more important role to drastically decrease the countrys greenhouse gas emissions, Kevin Jianjun Tu, a non-resident fellow at the French think tank Ifri, wrote in a report published in October.China is targeting to have 1 million fuel-cell vehicles in operation by 2030, according to an energy savings vehicle development plan drafted by authorities, despite only 2,700 such cars selling in the country last year.The nations renewed interest in hydrogen could put it further ahead of the U.S. in next-generation autos even as President-elect Joe Biden tries to promote clean-car development.Read more: How Hydrogen Is and Isnt the Future of Energy: Andreas KluthIn theory, fuel cells are an ideal alternative to the internal combustion engine, since their chemical reactions of hydrogen and oxygen emit no carbon. Powering vehicles with hydrogen can be expensive, though, and most of Chinas supply comes from burning fossil fuels. The difficulties of storing and transporting hydrogen add to the cost.Trucks, BusesAs the supply of hydrogen generated by solar and wind power grows, the economics may improve. One utility is spending more than $3 billion on a wind and solar farm in Inner Mongolia that would produce as much as 500,000 tons of hydrogen a year, with operations expected to begin in 2021.State-owned oil refiner Sinopec said Oct. 29 its investing in hydrogen production, transportation and fuel cells and is building hydrogen vehicle refueling stations.The new infrastructure will likely support hydrogen-powered trucks and buses, with lithium-ion batteries remaining dominant for cars. Hydrogen makes sense for commercial vehicles since a fuel-cell automobile can go for longer on a single tank of hydrogen versus a battery-powered one on a single charge of electricity, according to Wang Chaoyun, the chairman of Anhui Mingtian Hydrogen Energy Technology Co., a startup that develops fuel-cell stacks and other inner workings for hydrogen vehicles.Filling up the hydrogen tank also is much faster than recharging an EV battery.Chinas annual sales of fuel-cell vehicles will rise 10-fold over the next five years to 50,000 units before hitting half a million by 2035, says Wang, who predicts China will become the No. 1 market within three years.Shanghai-based SAIC Motor Corp. said in September that it plans to launch 10 hydrogen vehicles by 2025.Beijing SinoHytec Co., which develops hydrogen-fuel-cell engines, raised about 1.4 billion yuan ($213 million) in an initial public offering in August and is one of five Chinese companies that in June teamed up with Toyota Motor Corp. to develop fuel-cell systems for commercial vehicles.Read more: Hydrogen Wars Pit Europe v. China for $700 Billion BusinessThe Japanese automaker sees the market dominated by hydrogen-powered trucks and buses rather than cars, said Chisato Yoshifuji, a project manager at Toyota. China is concentrating on commercial vehicles and that aligns with Toyotas thinking, she said. Its a huge trend supported by the government.Beer DeliveryOther foreign-backed companies see opportunities in hydrogen trucks, too. Hyundai Motor Co. on Nov. 5 announced agreements with five Chinese partners to promote the development of hydrogen fuel-cell commercial vehicles.Hyundai believes China has a massive potential for hydrogen powered commercial vehicles, said In Cheol Lee, Hyundais executive vice president and head of commercial vehicle division. Hyundai and its regional partners aim to supply some 4,000 fuel cell electric commercial vehicles in China by 2025.The Asian subsidiary of beverage giant Anheuser-Busch InBev SA/NV, meanwhile, added four hydrogen fuel-cell trucks to its fleet, the company announced Sept. 28. It plans to deliver beer using the trucks, making China the first nation where the company has deployed such vehicles for beer shipments.Pure electric vehicles and fuel cell-powered automobiles are equally important in our new energy vehicle development strategy and will coexist in the long run, Wan Gang, who is a vice chairman of Chinas national advisory body for policy making and often called the father of the countrys electric-car movement, said in January.Many skeptics do share Musks misgivings. Fuel cells are less efficient than batteries and the cost of building supporting infrastructure like refueling stations is much higher, according to a report published this month by IDTechEx, a research firm from Cambridge, England. Fuel-cell vehicles will continue to be a commercial failure for the next two decades, it said.And for now, Chinese leaders may be keeping their options open as they wait to see how the technology develops.The limited details in this plan suggest, at the national level, policy makers are still deliberating over the role of hydrogen in Chinas energy economy and the countrys goal of carbon neutrality by 2060, BloombergNEF analysts Siyi Mi and Jinghong Lyu wrote in a report published Nov. 13, with reference to Chinas 15-year plan for new-energy vehicles.ReFire, a Shanghai startup that manufactures fuel-cell engines, is one company thats nonetheless preparing for a surge in demand. It makes about 1,000 engines a year for Chinese producers of trucks and buses and expects annual capacity to soar to 20,000 as early as 2024. The competitiveness gap with EVs will shrink as hydrogen gains acceptance, Chief Executive Officer Robin Lin said.Theres a great chance for a dramatic drop in hydrogen prices, he said. As long as hydrogen power is cheap enough, itll be a natural choice.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P.

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Tesla, Inc. (TSLA) Stock Price, News, Quote & History ...

Nikola Tesla – Inventions, Facts & Death – HISTORY

Contents

Serbian-American engineer and physicist Nikola Tesla (1856-1943) made dozens of breakthroughs in the production, transmission and application of electric power. He invented the first alternating current (AC) motor and developed AC generation and transmission technology. Though he was famous and respected, he was never able to translate his copious inventions into long-term financial successunlike his early employer and chief rival, Thomas Edison.

Nikola Tesla was born in 1856 in Smiljan, Croatia, then part of the Austro-Hungarian Empire. His father was a priest in the Serbian Orthodox church and his mother managed the familys farm. In 1863 Teslas brother Daniel was killed in a riding accident. The shock of the loss unsettled the 7-year-old Tesla, who reported seeing visionsthe first signs of his lifelong mental illnesses.

Did you know? During the 1890s Mark Twain struck up a friendship with inventor Nikola Tesla. Twain often visited him in his lab, where in 1894 Tesla photographed the great American writer in one of the first pictures ever lit by phosphorescent light.

Tesla studied math and physics at the Technical University of Graz and philosophy at the University of Prague. In 1882, while on a walk, he came up with the idea for a brushless AC motor, making the first sketches of its rotating electromagnets in the sand of the path. Later that year he moved to Paris and got a job repairing direct current (DC) power plants with the Continental Edison Company. Two years later he immigrated to the United States.

Tesla arrived in New York in 1884 and was hired as an engineer at Thomas Edisons Manhattan headquarters. He worked there for a year, impressing Edison with his diligence and ingenuity. At one point Edison told Tesla he would pay $50,000 for an improved design for his DC dynamos. After months of experimentation, Tesla presented a solution and asked for the money. Edison demurred, saying, Tesla, you dont understand our American humor. Tesla quit soon after.

After an unsuccessful attempt to start his own Tesla Electric Light Company and a stint digging ditches for $2 a day, Tesla found backers to support his research into alternating current. In 1887 and 1888 he was granted more than 30 patents for his inventions and invited to address the American Institute of Electrical Engineers on his work. His lecture caught the attention of George Westinghouse, the inventor who had launched the first AC power system near Boston and was Edisons major competitor in the Battle of the Currents.

Westinghouse hired Tesla, licensed the patents for his AC motor and gave him his own lab. In 1890 Edison arranged for a convicted New York murderer to be put to death in an AC-powered electric chaira stunt designed to show how dangerous the Westinghouse standard could be.

Buoyed by Westinghouses royalties, Tesla struck out on his own again. But Westinghouse was soon forced by his backers to renegotiate their contract, with Tesla relinquishing his royalty rights.

In the 1890s Tesla invented electric oscillators, meters, improved lights and the high-voltage transformer known as the Tesla coil. He also experimented with X-rays, gave short-range demonstrations of radio communication two years before Guglielmo Marconi and piloted a radio-controlled boat around a pool in Madison Square Garden. Together, Tesla and Westinghouse lit the 1891 Worlds Columbian Exposition in Chicago and partnered with General Electric to install AC generators at Niagara Falls, creating the first modern power station.

In 1895 Teslas New York lab burned, destroying years worth of notes and equipment. Tesla relocated to Colorado Springs for two years, returning to New York in 1900. He secured backing from financier J.P. Morgan and began building a global communications network centered on a giant tower at Wardenclyffe, on Long Island. But funds ran out and Morgan balked at Teslas grandiose schemes.

Tesla lived his last decades in a New York hotel, working on new inventions even as his energy and mental health faded. His obsession with the number three and fastidious washing were dismissed as the eccentricities of genius. He spent his final years feedingand, he claimed, communicating withthe citys pigeons.

Tesla died in his room on January 7, 1943. Later that year the U.S. Supreme Court voided four of Marconis key patents, belatedly acknowledging Teslas innovations in radio. The AC system he championed and improved remains the global standard for power transmission.

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Nikola Tesla - Inventions, Facts & Death - HISTORY

Tesla (unit) – Wikipedia

SI unit of magnetic field strength

The tesla (symbol: T) is a derived unit of the magnetic induction (also, magnetic flux density) in the International System of Units.

One tesla is equal to one weber per square metre. The unit was announced during the General Conference on Weights and Measures in 1960 and is named[1] in honour of Nikola Tesla, upon the proposal of the Slovenian electrical engineer France Avin.

The strongest fields encountered from permanent magnets on Earth are from Halbach spheres and can be over 4.5T. The record for the highest sustained pulsed magnetic field has been produced by scientists at the Los Alamos National Laboratory campus of the National High Magnetic Field Laboratory, the world's first 100-tesla non-destructive magnetic field.[2] In September 2018, researchers at the University of Tokyo generated a field of 1200 T which lasted in the order of 100 microseconds using the electromagnetic flux-compression technique.[3]

A particle, carrying a charge of one coulomb, and moving perpendicularly through a magnetic field of one tesla, at a speed of one metre per second, experiences a force with magnitude one newton, according to the Lorentz force law. As an SI derived unit, the tesla can also be expressed as

(The last equivalent is in SI base units).[4]

Where A = ampere, C = coulomb, kg = kilogram, m = metre, N = newton, s = second, H = henry, V = volt, J = joule, and Wb = weber

In the production of the Lorentz force, the difference between electric fields and magnetic fields is that a force from a magnetic field on a charged particle is generally due to the charged particle's movement,[5] while the force imparted by an electric field on a charged particle is not due to the charged particle's movement. This may be appreciated by looking at the units for each. The unit of electric field in the MKS system of units is newtons per coulomb, N/C, while the magnetic field (in teslas) can be written as N/(Cm/s). The dividing factor between the two types of field is metres per second (m/s), which is velocity. This relationship immediately highlights the fact that whether a static electromagnetic field is seen as purely magnetic, or purely electric, or some combination of these, is dependent upon one's reference frame (that is, one's velocity relative to the field).[6][7]

In ferromagnets, the movement creating the magnetic field is the electron spin[8] (and to a lesser extent electron orbital angular momentum). In a current-carrying wire (electromagnets) the movement is due to electrons moving through the wire (whether the wire is straight or circular).

One tesla is equivalent to:[9][pageneeded]

One tesla is equal to 1 Vs/m2. This can be shown by starting with the speed of light in vacuum,[11] c = (00)1/2, and inserting the SI values and units for c (2.998108m/s), the vacuum permittivity 0 (8.851012As/(Vm)), and the vacuum permeability 0 (12.566107Tm/A). Cancellation of numbers and units then produces this relation.

For the relation to the units of the magnetising field (ampere per metre or Oersted), see the article on permeability.

The following examples are listed in ascending order of field strength.

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Tesla (unit) - Wikipedia

Tesla, Inc. | History, Cars, Elon Musk, & Facts | Britannica

Tesla, Inc., formerly (200317) Tesla Motors, American electric-automobile manufacturer. It was founded in 2003 by American entrepreneurs Martin Eberhard and Marc Tarpenning and was named after Serbian American inventor Nikola Tesla.

Tesla Motors was formed to develop an electric sports car. Eberhard was Teslas chief executive officer (CEO) and Tarpenning its chief financial officer (CFO). Funding for the company was obtained from a variety of sources, most notably PayPal cofounder Elon Musk, who contributed more than $30 million to the new venture and served as chairman of the company, beginning in 2004.

In 2008 Tesla Motors released its first car, the completely electric Roadster. In company tests, it achieved 245 miles (394 km) on a single charge, a range unprecedented for a production electric car. Additional tests showed that its performance was comparable to that of many gasoline-powered sports cars: the Roadster could accelerate from 0 to 60 miles (96 km) per hour in less than 4 seconds and could reach a top speed of 125 miles (200 km) per hour. The lightweight car body was made of carbon fibre. The Roadster produced no tailpipe emissions, as it did not use an internal-combustion engine. Tesla Motors found that the car attained efficiency ratings that were equivalent to a gasoline mileage of 135 miles per gallon (57 km per litre). The vehicles electric motor was powered by lithium-ion cellsoften used in laptop-computer batteriesthat could be recharged from a standard electric outlet. Despite a federal tax credit of $7,500 for purchasing an electric vehicle, the Roadsters cost of $109,000 made it a luxury item.

In late 2007 Eberhard resigned as CEO and president of technology and joined the advisory board of the company. It was announced in 2008 that he had left the company, though he remained a shareholder. Tarpenning, who was also vice president of electrical engineering, supervising the development of electronic and software systems for the Roadster, also left the company in 2008. Musk took over as CEO. In 2010 Teslas initial public offering raised some $226 million.

In 2012 Tesla stopped production of the Roadster to concentrate on its new Model S sedan, which was acclaimed by automotive critics for its performance and design. It came with three different battery options, which gave estimated ranges of 235 or 300 miles (379 or 483 km). The battery option with the highest performance gave an acceleration of 0 to 60 miles (96 km) per hour in slightly over 4 seconds and a top speed of 130 miles (209 km) per hour. Unlike the Roadster, which carried its batteries at the front of the car, the Model S had its underneath the floor, which gave extra storage space in front and improved handling because of its low centre of gravity. The Tesla Autopilot, a form of semiautonomous driving, was made available in 2014 on the Model S (and later on other models).

Beginning in 2012, Tesla built stations called Superchargers in the United States and Europe designed for charging batteries quickly and at no extra cost to Tesla owners. Later versions of those stations were called Tesla Stations and also had the capability of complete replacement of the Model S battery pack.

Tesla released the Model X, a crossover vehicle (i.e., a vehicle with features of a sport-utility vehicle but built on a car chassis), in 2015. The Model X had a maximum battery range of 295 miles (475 km) and seating for up to seven. Because of demand for a more inexpensive vehicle, the Model 3, a four-door sedan with a range of 220 miles (354 km) and a price of $35,000, began production in 2017.

The company also branched out into solar energy products. A line of batteries to store electric power from solar energy for use in homes and businesses was unveiled in 2015. Tesla bought the solar panel company SolarCity in 2016. In 2017 the company changed its name to Tesla, Inc., to reflect that it no longer sold just cars.

The following year Musk made a series of tweets about taking Tesla private, claiming that he had secured funding. In September 2018 the U.S. Securities and Exchange Commission (SEC) charged him with securities fraud, alleging that his tweets were false and misleading. Later that month Teslas board rejected a proposed settlement from the SEC, reportedly after Musk threatened to resign. However, news of the rejected deal sent Teslas stock plummeting, and the board quickly accepted a less generous settlement, the terms of which included Musk stepping down as chairman for at least three years. However, he was allowed to remain as CEO. In addition, both Tesla and Musk were fined $20 million.

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Tesla, Inc. | History, Cars, Elon Musk, & Facts | Britannica

Consumer Reports is no longer recommending Tesla’s Model S and is panning the reliability of the new Model Y – CNBC

Brand new Tesla Model S cars sit on front of a Tesla showroom on August 2, 2017 in Corte Madera, California. Tesla will report second-quarter earnings today after the closing bell.

Justin Sullivan | Getty Images

Consumer Reports is no longer recommending Tesla's Model S and is panning the reliability of the new Model Y.

The Consumer Reports' annual Auto Reliability Survey, released Thursday, also dropped a Toyotabrandfrom No. 1 for the first timein 15 years, although the Japaneseautomaker's vehicles maintained high reliability scores overall.

Tesla's Model S had problems with its air suspension and main computer and touchscreen controls, according to Jake Fisher, senior director of auto testing at Consumer Reports. The Model Y had body hardware and paint problems, he said.

Consumer Reports in 2015 ranked the Model S as its top-rated vehicle ever. Now, Fisher said, "We see a variety of problems on that car. It's wavered throughout its life cycle" as Tesla has consistently updated the Model S, which was introduced in 2012.

Typically older models fare better in reliability as companies tend to address problems as the vehicles age, but Tesla has continued to update the cars without much change to their exteriors, including over-the-air, or remote, software updates an emerging trend in the auto industry led by Tesla.

Overall, Tesla ranked second to last in the reliability study. It was down two spots from a year ago due to the issues identified in the Model S and the Model Y, which went on sale earlier this year. The Model Y has "well below average reliability," the publication said.

In a recent, widely reported incident, the glass roof flew off of one owner's brand new Tesla Model Y.

Tesla Model S dual motor all electric sedan on display at Brussels Expo on January 9, 2020 in Brussels, Belgium.

Sjoerd van der Wal | Getty Images

Many of the problems identified by Consumer Reports have been ongoing for Tesla. The company notified owners of older Model S and Model X vehicles that Tesla will some refunds for repairs if the owner previously had to pay out of pocket to fix a problem in their main computers. That problem manifested as a blank touchscreen, and drivers losing access to temperature controls, rear view cameras and other glitches. It was related to memory-device failures in the computer that stores data from the vehicle.

After Tesla sent that notice to owners, the National Highway Traffic Safety Administration expanded a safety probe into the issues with the main computers in Model S and Model X vehicles made from 2012 to early 2018. Depending on results of the engineering analysis, the federal probe could prompt a mandatory recall that goes beyond Tesla's warranty adjustment. According to NHTSA documents, approximately 159,000 vehicles may have been effected.

Consumer Reports' Jake Fisher said, "We continue to recommend many reliable EVs such as the Chevrolet Bolt, Nissan Leaf, and Hyundai Kona Electric that have lower operating costs than traditional gas-powered vehicles. The initial problems we are seeing in some of the latest EVs are still covered under warranty and may improve over time. We will continue to monitor the reliability and costs of EVs over the long term as more models hit the market."

Of the 26 brands ranked in the Consumer Reports reliability survey, Japanese automakers fared the best.

For the first time, the Japanese brand Mazda ranked at the top of the nonprofit organization's reliability list. Toyota vehicles ranked second and third. Toyota products had always topped the reliability rankings since the survey began in 2005, Consumer Reports said.

Buick, Honda and Hyundai were No. 4-6 on this year's reliability list. Ford Motor's Lincoln brand, down 11 spots from a year ago, ranked last in the study, behind Tesla.

The survey, which covers the 2000-2020 model years, is based on data collected from owners of more than 300,000 vehicles. The nonprofit then assigns a predicted new-vehicle reliability score to various nameplates based on their amount of reported problems and other measures.

The reliability rating is a key element to Consumer Reports' overall score of a vehicle and whether or not it's "recommended" for consumers. The overall score also includes road-test performance, owner satisfaction survey results, whether a vehicle comes with key safety systems, and results from crash tests, if applicable.

Here are the ratings:

Correction: This story has been updated to reflect that this was the first year for the Model Y ranking in the list and the Model S fell in its standing.

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Consumer Reports is no longer recommending Tesla's Model S and is panning the reliability of the new Model Y - CNBC

TSLA – Tesla Inc Stock quote – CNNMoney.com

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Tesla stock to rally another 20% as investors bet on Musk, trader says – CNBC

Soon-to-be S&P 500 stock Tesla has rallied nearly 500% this year.

Its run is not yet over, according to Todd Gordon, founder of TradingAnalysis.com. While the stock may now look expensive, he says the market is pricing in explosive growth for the company and the opportunity for more gains.

"If you look at the forward earnings, we're trading 100 times next year's earnings and granted, that's a lot. Trust me, I understand. But I think what people are missing. I think the pricing mechanism of the market is becoming more efficient. It's hard to put a fundamental valuation and justify what's happening on Tesla now because markets are getting smarter and they're pricing the CEO and the visions of the CEO," Gordon told CNBC's "Trading Nation" on Thursday.

Investors are betting on Tesla's innovations with electric vehicles and CEO Elon Musk's private space exploration company SpaceX, Gordon added. He predicts that SpaceX's satellite coverage and the expansion of 5G could lay way to Tesla's domination of the driverless car market. Proof is in the charts, he said the last two SpaceX launches unleashed gains for Tesla stock.

Gordon's most recent bet on Tesla paid off. He bought the 450 call with Nov. 20 expiration and sold the 500 call in early October, an options spread that netted him $2,600.

Now, Gordon is buying the 550 call and selling the 600 call spread with Jan. 15 expiration, costing $1,300 to potentially make $3,700. A move to $600 implies 20% upside the stock was trading just below $500 on Friday.

Disclosure: Gordon holds Tesla stock outright in his portfolio.

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Tesla stock to rally another 20% as investors bet on Musk, trader says - CNBC


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