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GOEV

KARS

NKLA

TSLA

VWAGY

Electric vehicle stocks had a mixed week, with Tesla, Inc. (TSLA) ending higher despite volatility. Tesla slashed its FSD subscription price by 50% to $99/month to boost adoption. Elon Musk confirmed a visit to India to discuss Tesla's plans, potentially impacting the company's strategy in the region. Nikola Corporation (NKLA) faced a setback with shares dropping due to a boardroom battle and a proxy filing by founder Trevor Milton. Ford Motor Co. (F) reduced prices for its F-150 Lightning EV, and Volkswagen AG (VWAGY) reported diverging EV sales in Europe and China. Canoo, Inc. (GOEV) announced a pilot program with Red Sea Global in Saudi Arabia. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

April 13, 2024 | 1:39 pm

AGI

AMC

COIN

DJT

FCX

TSLA

Benzinga's weekly review highlights Wall Street's downturn, with the S&P 500, Dow, and Nasdaq all falling. Oil prices rose due to geopolitical tensions between Israel and Iran. U.S. consumer sentiment dipped, and expectations for a Federal Reserve rate cut decreased. Bullish reports include AMC's CEO dismissing bankruptcy fears, Dogecoin's post-Bitcoin halving surge, and BofA's positive outlook on gold and copper with upgrades for AGI and FCX. Bearish reports cover Trump Media's legal challenges, a lawsuit against Coinbase, and concerns over Tesla's $25K EV project.

Portfolio Pulse from Michael Cohen

April 13, 2024 | 1:28 pm

TSLA

A Tesla Inc. owner, Brianna Janel, reported being trapped inside her car during a software update, causing the interior temperature to reach 115°F. Despite the Tesla user manual's warning against opening doors or windows during an update, Janel chose to wait it out to avoid damaging the vehicle. This incident has raised concerns about the safety of Tesla's software updates, adding to previous issues that have drawn scrutiny from the NHTSA.

Portfolio Pulse from Ananya Gairola

April 13, 2024 | 8:22 am

TSLA

Tesla Inc. (NASDAQ:TSLA) has reduced the monthly subscription fee for its Full Self-Driving (FSD) package in the U.S. from $199 to $99, a move that contrasts with CEO Elon Musk's previous statements that the FSD price would increase as it approached full self-driving capability. This price cut follows Tesla's announcement that its cars have driven one billion miles using FSD software, amidst controversies and accusations of deceptive marketing practices by the California DMV.

Portfolio Pulse from Ananya Gairola

April 13, 2024 | 5:46 am

INTC

Republican lawmakers criticized the Biden administration after Huawei unveiled a laptop with an Intel AI chip, despite Huawei being on a trade restriction list. The chip was supplied under a license from the Trump era, raising concerns about U.S. national security and technology export to China. The Biden administration has faced calls to take a tougher stance on Huawei and other Chinese tech firms.

Portfolio Pulse from Ananya Gairola

April 13, 2024 | 1:55 am

ARM

BKR

TSLA

Market volatility surged due to higher-than-expected inflation, spikes in oil and gold prices, and geopolitical tensions. The likelihood of a Federal Reserve rate cut in June has decreased significantly, while U.S. mortgage rates have risen. Consumer sentiment fell in April, and confidence in Tesla's CEO Elon Musk has declined. Ark Invest took a stake in OpenAI, and concerns about AI's future energy consumption were highlighted by Arm Holdings' CEO.

Portfolio Pulse from Piero Cingari

April 12, 2024 | 8:27 pm

RARE

Ultragenyx Pharmaceutical Inc. has rescheduled its conference call to discuss Phase 1/2 study results of GTX-102 for Angelman syndrome to April 15, 2024, at 8:00 a.m. ET. The call, which will present new clinical efficacy and safety data, coincides with the American Academy of Neurology Meeting. Presentation slides will be available on the company's website.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:23 pm

KULR

KULR Technology Group, Inc. (NYSE:KULR) reported a significant revenue increase of 146% in 2023, reaching $9,830,166 from $3,994,634 in 2022, attributed to success in energy storage, battery transportation, and recycling sectors. Despite the revenue growth, the company experienced a net loss increase to $23,693,556, or $0.20 per share, and a decrease in cash position to $1,194,764. The company expanded its customer base, secured major contracts with H55 Inc., Nanoracks, Lockheed Martin, and a leading U.S. automaker, and received special permits from the U.S. Department of Transportation for its SafeX product suite.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:18 pm

TSLA

Tesla has introduced a subscription model for its Full Self-Driving (FSD) capability, allowing owners with vehicles equipped with FSD computer 3.0 or above to subscribe to advanced driver assistance features. The subscription is available for vehicles with Basic Autopilot or Enhanced Autopilot, at a price of $99.00 per month. Hardware upgrades for the FSD computer are not included in the subscription.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:16 pm

TSLA

Tesla has reduced the monthly subscription cost of its Full Self-Driving (FSD) package to $99 from the previous $199. This move could potentially increase the adoption rate of FSD among Tesla owners, impacting Tesla's revenue from subscriptions.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:15 pm