Streetbeat News

Products Services

TSLA

Tesla's VP Karn Budhiraj refuted claims that 4680 cell production is causing delays in Cybertruck deliveries, stating that production is ahead of schedule with a healthy inventory. CEO Elon Musk emphasized the company's focus on increasing 4680 production and supplier orders. Despite previous reports of production challenges, Budhiraj finds the reservation to order conversion rate for the Cybertruck 'very encouraging' and anticipates selling out all builds for 2024. Musk reiterated the goal of delivering 250,000 Cybertrucks in North America, potentially by 2025.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 7:21 am

BONEUSD

DOGEUSD

SHIBUSD

Shiba Inu (CRYPTO: SHIB) has seen a 4,200% increase in token burn rate after a new plan to automate burn processes was unveiled. Shibburn reported 15.72 million SHIB tokens were removed from circulation by three anonymous entities. The Shiba Inu ecosystem is implementing a new strategy to accelerate token elimination, including an automated system on Puppynet and Mainnet. Additionally, Shibarium developers introduced a dual-component burning mechanism using BONE (CRYPTO: BONE) token fees. In December 2023, 25 billion SHIB tokens were burned in three events. SHIB's price is slightly down by 0.91%.

Portfolio Pulse from Mehab Qureshi

January 25, 2024 | 7:11 am

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) is preparing to launch its second-generation electric vehicles, the R2 series, with a public event scheduled for March 7, 2024, at Main Beach Park in Laguna Beach, California. The event will feature a display of six vehicles to complement the product launch at the Rivian Theater. Although not explicitly stated, the document for the event refers to it as the 'Rivian R2 launch.' Rivian has seen success with its current lineup and the R2 platform could boost volume in the competitive EV market. The stock closed down 4.36% at $15.34 on Wednesday.

Portfolio Pulse from Shanthi Rexaline

January 25, 2024 | 6:41 am

TSLA

Tesla Inc (NASDAQ:TSLA) acknowledges that lack of awareness is a barrier to EV adoption but plans to be cautious with advertising spending. Despite successful digital campaigns in Q4, CFO Vaibhav Taneja emphasized the need to avoid overspending. CEO Elon Musk highlighted the need to increase awareness in low market share regions like Japan, by adding superchargers and service centers. Musk is open to trying some advertising, as suggested by shareholders and analysts, to promote Tesla's features and functionality.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 5:57 am

BITB

BTCUSD

Bitwise Asset Management revealed the wallet addresses for its Bitwise Bitcoin ETF (BITB), allowing public tracking of its holdings and transactions on the blockchain. The ETF holds 11,858 Bitcoin, valued at approximately $474 million. Balaji Srinivasan praised the move as a step towards on-chain accounting. Despite no new inflows on the day, Bitwise has seen $518 billion in inflows over a week, trailing only behind BlackRock and Fidelity's Bitcoin ETF inflows. Bitcoin's price was down 3.08% at $39,699.

Portfolio Pulse from Mehab Qureshi

January 25, 2024 | 5:38 am

TSLA

During Tesla's Q4 earnings call, CEO Elon Musk stated that Tesla has not yet entered into any licensing agreements for its Full Self-Driving (FSD) software with rival automakers. Musk suggested that competitors may not believe in the technology's viability. Tesla's Q4 revenue increased by 3% year-on-year to $25,167 million, but was affected by lower FSD revenue compared to the previous year. Musk anticipates a significant revenue increase once FSD is approved by regulators.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 5:05 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), indicated optimism about shipping some units of the Optimus humanoid robot in the next year. He acknowledged the uncertainty in making precise predictions and mentioned that Tesla is focused on making Optimus safer and capable of doing generalized tasks. No timeline was provided for deploying the robot in Tesla factories during the Q4 earnings call.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 4:31 am

BYDDF

LGEIY

PCRFF

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), during an earnings call, highlighted the competitive edge of Chinese automakers, particularly noting their potential to 'demolish' global rivals if not for trade barriers. Musk acknowledged BYD (OTC:BYDDF) (OTC:BYDDY) as a key battery supplier, along with Panasonic (OTC:PCRFF) (OTC:PCRFY), CATL, and LG (OTC:LGEIY), and plans to increase orders in 2024. Despite Tesla's revenue increase to $25.17 billion in Q4, it fell short of expectations. The rise of Chinese EV makers like BYD, which outsold Tesla in the last quarter, is intensifying competition, prompting Tesla to reduce prices in China and Europe.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 3:10 am

TSLA

Tesla Inc's energy generation and storage segment saw a Q4 revenue decline to $1,438 million, a 7.8% drop from the previous quarter, due to lower energy storage deployments. Despite this, annual revenue for the segment increased by 54% to $6,035 million. Conversely, Tesla's automotive revenues reached a yearly high in Q4 at $21,563 million, a 9.9% increase from Q3. Tesla anticipates that in 2024, the growth rate of its energy storage business will surpass that of its automotive sector. The company is focusing on ramping up its Megafactory in Lathrop, California, which is expected to produce 10,000 Megapack units annually, equating to 40 GWh of energy storage.

Portfolio Pulse from Anan Ashraf

January 25, 2024 | 2:52 am

IBM

PLTR

RIVN

TSLA

Tesla missed Q4 revenue estimates with slower growth expected in 2024, Rivian downgraded by Deutsche Bank amid production concerns, IBM stock rose after-hours ahead of earnings report focusing on AI and cloud services, Boeing faced FAA production halt for 737 Max, and Palantir's stock declined due to competition and data privacy issues in Europe.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 2:21 am