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Tesla reports record deliveries, but numbers are still shy of analyst targets

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Tesla Inc. announced. for record quarterly deliveries on Sunday. But this figure still disappointed analysts.

Tesla said it produced more than 365,000 vehicles in the just-completed third quarter, and made more than 343,000 deliveries. That was a significant recovery from the second quarter, when it reported nearly 259,000 vehicles manufactured and 255,000 deliveries, with production halted due to Chinese factory closures due to the COVID-19 outbreak in the spring.

Wall Street analysts expected more from the fourth quarter, although they expected about 371,000 deliveries, according to FactSet data.

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The distribution of 22,000 cars between production and delivery was much higher than usual – it was about 4,000 in the previous quarter. While such a large spread may indicate production is outstripping demand, Tesla said the reason was due to a logistical crisis at the end of the quarter.

“As our production volume continues to grow, it is becoming increasingly difficult to secure affordable vehicle transportation capacity during peak logistics weeks,” the company said. in the current situation. “In the third quarter, we began to transition to a more equal regional mix of vehicles manufactured each week, which resulted in an increase in the number of vehicles moved toward the end of the quarter.”

in Tweet On Sunday, CEO Elon Musk said he hopes for “more consistent deliveries” this quarter.

Dan Ives, an analyst at Wedbush, took this explanation step by step.

In short, this quarter would have nothing to write home about and the street will be disappointed with softer deliveries. “We’re looking at this as a logistical bump in speed rather than demand driven,” he said in a tweet.

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However, Tesla will need to increase production significantly in the current quarter in order to meet its annual growth target.

on Friday On its second annual Artificial Intelligence Day, Tesla has revealed a prototype of a human-like robot, called Optimus, that demonstrates finger dexterity. The robots for industrial use will cost about $20,000 each and could reach the market within three to five years, Musk said, although experts are skeptical.

The electric car maker is expected to report third-quarter earnings on October 19.

Tesla Arrow
TSLA,
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It has sunk about 25% since the start of the year, roughly in line with the S&P 500
SPX,
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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.