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TSLA

Tesla Inc. is exploring the introduction of an entry-level electric vehicle (EV) for the Indian market, priced around $24,000. The plan involves using smaller, quick-charging batteries to reduce costs, similar to the strategy in China. Tesla's success hinges on the development of a robust fast-charging network in India, where the current infrastructure is sparse. The company is in talks with the Indian government for support in charger and battery production development. Tesla is also considering a $2 billion investment in an Indian factory contingent on reduced import duties.

Portfolio Pulse from Shomik Sen Bhattacharjee

January 05, 2024 | 5:56 am

HMC

TSLA

Elon Musk, CEO of Tesla, suggested that Honda's recent recall of over 2.5 million vehicles due to a fuel pump failure received minimal media coverage due to Honda's substantial advertising budget. Musk's comments came in response to a Tesla enthusiast's remark on the disparity in media attention compared to Tesla's software update 'recall' for over 2 million vehicles. The financial figures for advertising expenses are not explicitly disclosed in the companies' income statements.

Portfolio Pulse from Anan Ashraf

January 05, 2024 | 5:46 am

TSLA

Tesla Inc (NASDAQ:TSLA) has updated the range estimates for several variants of its Model S, X, and Y vehicles, showing reductions of up to 37 miles. The changes are reflected on Tesla's website, with the base Model Y, Long Range, and Performance versions seeing a nearly 20-mile decrease. The Model X and S have also seen similar reductions. Despite the lowered range estimates, the prices of the vehicles have not changed. Tesla has not provided an explanation for the range adjustments, and no response was given to Benzinga's inquiry at the time of publication.

Portfolio Pulse from Anan Ashraf

January 05, 2024 | 4:48 am

AAPL

TDK Corporation, a supplier for Apple Inc. (NASDAQ:AAPL), has developed a new line of smartphone batteries using silicon electrodes, which promise a 10% higher capacity than traditional graphite anode batteries, with the potential to increase capacity by over 40%. This technology could significantly impact the design of smartphones, wearables, and AI devices by allowing for thinner devices with longer battery life. TDK's CEO Noboru Saito expects these batteries to make up a double-digit percentage of their smartphone battery sales in the next few years. TDK's recent collaboration with Apple to produce battery cells in India for locally assembled iPhones could be further strengthened by this innovation.

Portfolio Pulse from Benzinga Neuro

January 05, 2024 | 4:05 am

BTCUSD

ETHUSD

GBTC

Bitcoin recovered to over $44,000, with the global cryptocurrency market cap rising to $1.66 trillion. Grayscale and VanEck reignited hopes for a U.S. Spot ETF approval with new filings. The Crypto Fear & Greed Index indicated 'Greed' at a value of 72. Analysts predict a bullish run for Bitcoin and Ethereum, with potential price targets of $48,000 and $57,000 for Bitcoin. Ethereum's non-exchange whales are accumulating, suggesting positive sentiment.

Portfolio Pulse from Shivdeep Dhaliwal

January 05, 2024 | 3:12 am

TSLA

Tesla Inc (NASDAQ:TSLA) has expanded its global supercharger network to 55,000 units, adding 5,000 new superchargers in just four months. This rapid deployment reflects Tesla's scaling efforts since the network's inception in 2012. The expansion is significant as several major automakers, including Ford, General Motors, Rivian, Volvo, and Mercedes-Benz, have announced partnerships to adopt Tesla's charging standard and access its supercharger network starting in 2025, with adapters for existing customers available in 2024. Tesla's superchargers can add 200 miles of range in 15 minutes, improving the charging experience for EV owners.

Portfolio Pulse from Anan Ashraf

January 05, 2024 | 2:29 am

LLY

PTON

TSLA

WBA

QuantumScape Corp shares soared 46.1% after a positive battery test by a Volkswagen subsidiary, while Peloton Interactive shares jumped 22.5% due to a partnership with TikTok. Eli Lilly shares dipped 1.16% after launching LillyDirect for home delivery of weight loss medicines. Walgreens shares fell 9.80% despite higher sales, due to reduced dividends and lower income. Tesla shares slightly declined by 0.02%, but analysts remain positive about its future prospects.

Portfolio Pulse from Benzinga Neuro

January 05, 2024 | 1:57 am

BTCUSD

ETHUSD

GBTC

SOLUSD

TIAUSD

Messari's report highlights Bitcoin's strong performance, labeling it the 'Godzilla of Finance' after ETF approval and accounting changes favoring BTC holdings. Bitcoin's price rose 3.3% in the last 24 hours, with a 26% gain over two months. December NFT volume hit $881 million, outpacing Ethereum and Solana combined. Bitcoin's dominance is at 51.4%, with potential for consolidation. Ethereum is praised for its supply dynamics, while Solana is the top pick among analysts. Render, Bittensor, and Autonolas are also winners. Key figures in the crypto space for 2024 include Larry Fink, Cathie Wood, Elon Musk, and Elizabeth Warren. Products like Solana's Firedancer, Celestia, BASE from Coinbase, Grayscale, Lido, and Project Guardian are noted.

Portfolio Pulse from Khyathi Dalal

January 04, 2024 | 11:57 pm

DRMAW

Dermata Therapeutics, Inc. (NASDAQ:DRMAW) saw its shares surge in after-hours trading following the announcement of a new patent issued in Japan for its DMT410 program, aimed at treating hyperhidrosis. The patent marks the first for DMT410 and leverages Dermata's Spongilla technology for topical delivery of botulinum toxin. The company's CEO highlighted the patent's validation of the novel concept and potential treatment opportunities for various forms of hyperhidrosis. Shares of Dermata increased by 96.7% to $1.20 in after-hours trading.

Portfolio Pulse from Ryan Gustafson

January 04, 2024 | 10:31 pm

DKNG

Bet365, an online sports betting operator, revealed the most wagered-on teams and popular betting types across major North American sports leagues for 2023. The Kansas City Chiefs led NFL betting, possibly influenced by Travis Kelce's romance with Taylor Swift. Popular MLB teams included the Yankees, Phillies, Dodgers, and Blue Jays. In the NBA, the Nuggets, Lakers, and Celtics were top choices, with Jokic, Doncic, and Antetokounmpo as the most bet on players. The Bruins, Rangers, Maple Leafs, and Golden Knights were the NHL favorites, while the Aces and Liberty led WNBA betting. College football betting was dominated by Georgia, Michigan, Alabama, and Ohio State.

Portfolio Pulse from Chris Katje

January 04, 2024 | 10:00 pm