Elon Musk to attend “Starship Career Day” in Texas as SpaceX seeks FCC approval ahead of test flight


Elon Musk will be headed to a SpaceX “Starship Career Day” event at its Boca Chica facility in Texas on Thursday, as the company prepares its next-generation Starship spacecraft for its first high-altitude test flight.

The California-based aerospace company is looking to shore up its production staff to allow for four shifts for 24/7 operations. Engineers, supervisors, and support staff are also welcome, but the focus is on reinforcing the production crew. The company is looking for people with “super hardcore work ethic, talent for building things, common sense, and trustworthiness” and will provide training. Interested applicants can send their resumes to buildstarship@spacex.com, notes Musk via Twitter.

The call for new staff follows a recent document filed with the Federal Communications Commission (FCC) that reveals SpaceX is seeking permission to use communications for a test flight that will take the Starship SN1 prototype to an altitude of 20 kilometers (12.4 miles) as early as March 16. The FCC will be responsible for approving SpaceX for the use of radio frequencies in communicating with the Starship prototype during the experimental flight.

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The test flight will launch from SpaceX’s launch pad in Boca Chica, with an attempt to land the vehicle safely on the ground using its Raptor engines. It’s worth noting that such applications filed with the FCC can take some time before approval, which means the actual date of the test flight could go as far as September 16.

Starship production hasn’t always gone according to schedule. Musk previously announced that a Starship prototype would be ready to go on a test flight or even into orbit as early as 2019. SpaceX missed the mark on those targets, but in July 2019, the company successfully flew a sub-scale prototype called Starhopper to a 500-feet altitude before landing it safely back on the ground.

Later in the year, another prototype, Starship Mk1, blew its top off during an explosive tank test, prompting SpaceX to use another vehicle altogether instead of restoring the former ship. Earlier this year, SpaceX successfully completed two more pressure tests conducted on the steel Starship tank prototypes, proving that Starship’s tanks are now structurally sound and ready to launch into orbit.

Elon Musk to attend “Starship Career Day” in Texas as SpaceX seeks FCC approval ahead of test flight

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Tesla’s unmistakable EV lead strongly acknowledged by Lucid and VW CEOs


Lucid Motors and Volkswagen Auto Group CEOs Peter Rawlinson and Herbert Diess recently expressed their support towards Tesla and Elon Musk. The two automotive executives took particular note of Tesla’s growing lead in the electric car segment.

“There’s a recognition that Tesla is in a preeminent position in terms of EV technology,” Lucid Motors CEO Peter Rawlinson said at the BloombergNEF Summit. Rawlinson stated that Tesla’s lead in the EV sector is actually growing since the company continues to improve its already industry-leading products.

“They’re even further ahead than has been reported, and I think the gap is widening, not closing,” Rawlinson added.

This is a change in tune from Rawlinson as he was not always a firm supporter of Tesla, especially after he left the company. Before joining Lucid Motors, Rawlinson served as one of the chief engineers of Tesla’s flagship sedan, the Model S. In 2018, he spoke about Tesla’s lack of “truly luxury” features, arguing that the electric vehicles are “premium and high-tech, but not luxury.”

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Tesla holds a considerable lead in the electric vehicle market, especially in terms of range and performance. This particular combination has eluded traditional carmakers who are dipping their feet into EVs so far. The Porsche Taycan Turbo, for example, knocks it out of the park with its classic sports car performance. But when it comes to range, the vehicle earned a paltry rating of 201 miles from the EPA.

Indeed, Tesla’s lead in electric vehicles is something that’s becoming undeniable. It’s not only the Lucid Motors CEO that seems to be open enough to admit this, either.

Volkswagen AG CEO Herbert Diess has been vocal of his support of both Tesla and Musk in the past. After Musk announced his company’s plan to create a production plant in Germany while receiving an award for the Model 3, Diess was supportive of Musk. “I know all of this competition here in Germany, this award, it’s a great achievement,” Diess stated.

When Tesla’s value eclipsed Volkswagen’s by nearly $50 billion, Diess was nothing but supportive. Diess stated that he believes cars will eventually surpass the cell phone as “the most important mobile device” and Tesla’s technology is a key contributor to that idea. “If we see that, then we also understand why Tesla is so valuable from the view of analysts,” the VW CEO said.

Tesla stock has skyrocketed over the past three months. The price per stock at the closing bell on February 4 was $887.06, a new all-time-high for the company. Tesla’s technology has been a key to the company’s success, and based on Rawlinson and Diess recent statements, it appears that other automakers are starting to recognize the hard work Tesla has dedicated in the development of its core technologies.

Tesla’s unmistakable EV lead strongly acknowledged by Lucid and VW CEOs

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Tesla’s Elon Musk tests the waters for a potential Gigafactory in Texas


Elon Musk is pondering on building a Gigafactory in Texas and the CEO wants to find out what the electric car community on Twitter thinks of the possible next big move for the electric carmaker. Musk started a poll late Tuesday night and gave the Twitterverse two options: “Hell yeah” and “Nope.” As of writing, the poll has garnered almost 231,000 votes with around 80% of respondents being in favor of building the new Gigafactory in the Lone Star state.

Giga Texas would be Tesla’s fifth Gigafactory, and while many believe the nomenclature is perfect for the state where everything is bigger, many are wondering why Musk would consider building a factory in a state where the direct sale of its vehicles is not allowed. A bill was even pushed once to prohibit the electric car manufacturer from servicing its vehicles in the state.

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Tesla has Giga Nevada and Giga New York in the United States. The former is focused on producing batteries for the car manufacturer while the latter produces the Solarglass Roof Tiles and Powerwall. There’s also Giga Shanghai in China that already produces the Model 3 for the biggest automotive market in the world. The Silicon Valley-based carmaker is also hoping to lay the first brick by mid-March of its planned EV factory in Europe, Giga Berlin.

During the Q4 2019 earnings call, Musk explained that Tesla needs to make sure it has the batteries to make cars that are already on its lineup. “We got to scale battery production to crazy levels that people cannot even fathom today. That’s the real problem,” the chief executive of Tesla said.

Giga Texas might be the solution to this problem. It can also be the perfect place to ramp the production of the Cybertruck, whose Tri-Motor version is set to hit production by 2021. With Giga Texas, the Fremont factory will not have to handle additional pressure as it already produces the Model S, Model X, Model 3, and the much-awaited Model Y crossover. Ultimately, penetrating Texas is setting foot in the heart of the country’s biggest oil producers and refineries, and that’s quite a statement for Tesla.

It should be noted that Texas has a lively tech scene, particularly in Austin. Tech talents from Silicon Valley have been flocking to this region. The blossoming tech scene in the metro is blossoming enough that people call Austin as “Silicon Hills.”

Earlier this week, Elon Musk announced via Twitter that he will be hosting an AI hackathon party at his house. This time-boxed event is most likely to further accelerate the development of Tesla’s Full Self-Driving capabilities and improvements to its Autopilot feature. It is also a perfect setup to fish for new talents that will join Tesla’s workforce. Interestingly enough, Musk mentioned in his hackathon announcement that the electric car maker was looking for chip designers who can join the team in Palo Alto and Austin.

Even without waiting for the Giga Texas poll to end, the Twitterverse and Elon Musk’s 31 million followers may have already an obvious decision. For sure, everyone is eager to hear additional details about the new Gigafactory Musk is planning to build, as well as the role Giga Texas will play Tesla’s efforts to transition the transportation towards sustainability.

Tesla’s Elon Musk tests the waters for a potential Gigafactory in Texas

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Tesla China pushes back MIC Model 3 deliveries amid coronavirus outbreak


As the novel coronavirus outbreak continues in China, Tesla has opted to postpone MIC Model 3 deliveries scheduled for February, at least until the situation in the country improves. The update was related by Tesla China VP for External Affairs Grace Tao Lin, who noted on Weibo that MIC Model 3 deliveries will likely be pushed back, perhaps as far back as the third quarter of 2020.

Giga Shanghai currently has a run rate of 3,000 Model 3s per week and is poised to hit an annual production rate of 150,000 vehicles. The company has also launched the Model Y program in the country. With these in mind, the recently-announced delays will likely set back the ramp of the locally-made Model 3, while potentially pushing back the Model Y program in the country.

Interestingly enough, Tesla has noted that it does not expect a big financial hit in China due to the coronavirus outbreak. This is because the MIC Model 3 only represents a small fraction of the company’s quarterly profits, according to Tesla’s finance chief Zach Kirkhorn during the company’s Q4 2019 earnings call.

Tesla China delivery delays due to coronavirus outbreak (Source: Grace Tao Lin | Weibo)

Analysts currently expect markets to underperform because of the ongoing coronavirus outbreak. However, Tesla seems to be defying the odds so far. This week, the Tesla stock continued to soar, with the Silicon Valley-based electric carmaker surpassing the current valuation of Volkswagen and BMW combined on Monday. Tesla’s price per share hit past $900 and settled at $887.06 when the market closed on Tuesday

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The real impact of production delays and supply chain issues might be felt soon though if the closure of factories across China will be stretched to mid-March. Automotive research firm IHS Markit estimates that carmakers may lose about 1.7 million units during the first quarter of 2020. This corresponds to a 32.3% decline from the firm’s initial estimates.

“In this scenario, we might expect the potential of a China-wide supply chain disruption caused by parts shortages from Hubei, a major component hub — and adjacent province closures for the majority of the month of February as a result,” IHS Markit wrote in a press release.

The Shanghai government has ordered the shutdown of companies in the city, including Giga Shanghai, amid the coronavirus outbreak. Government and private companies are not allowed to resume operations before Feb. 9. Prior to the suspension of work, the government has also extended the Lunar New Year holidays to help control the spread of the 2019-nCOV that started in Wuhan, a city about 9 hours away by car from Shanghai.

Tesla is not the sole automaker that is being affected by the ongoing outbreak. Hyundai, Toyota, Ford, Nissan, Volkswagen, Daimler, and Continental have also shut down their respective factories in China due to the virus.

Based on the latest updates, there are more than 24,000 people infected by the coronavirus that causes fever, serious respiratory illness, impaired liver function, and kidney failure. As of Wednesday local time, there have been 490 deaths reported in connection to the virus. The World Health Organization has declared the outbreak, which has infected people in 25 countries, a public health emergency. The United States and several countries have also implemented travel bans to and from China.

In response to the coronavirus outbreak, Tesla China has offered local customers free Supercharging for an indefinite time to make traveling easier for drivers who reside in areas affected by the outbreak.

Amid the public health scare, Tesla has continued to provide customer support through Douyin, China’s version of TikTok. Tesla sales staff from certain experience centers live-streamed tours of the Made-in-China Model 3 and entertained questions from potential buyers. The company has also posted schedules of the live streams that interested consumers can join via Douyin.

Meanwhile, Tesla owners in China united to raise 123,000 yuan or about $17,500 to purchase N95 masks, surgical masks, and sets of protective clothing that they plan to donate to different hospitals treating patients infected by the coronavirus. Tesla has also donated 5 million yuan or more than $700,000 to assist the government and other institutions involved in disease control.

The recent news from China appears to have weighed down on Tesla stock. As of writing, TSLA stock is trading

Tesla China pushes back MIC Model 3 deliveries amid coronavirus outbreak

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Amazon reveals design of its Rivian-powered electric delivery van


Amazon has revealed the design of its upcoming all-electric delivery vehicle, produced in partnership with Rivian.

The $1 trillion dollar e-commerce giant has taken the wraps off a life-size clay model and a small-scale model of its planned delivery van. Unsurprisingly, the all-electric vehicle looks very similar to the current Amazon Prime delivery vans, but with slightly rounded design cues and improved ergonomics and safety features.

Last year, Amazon announced that it has teamed up with electric truck startup Rivian to produce a massive 100,000-unit fleet of electric delivery vans. Amazon says it spent 18 months analyzing electric delivery truck options on the market until it decided to build its own custom van designed specifically for its delivery business.

The latest development reveals how far the Amazon-Rivian partnership has gone toward meeting Amazon’s goal of sending the first of the 100,000 vans delivering packages to American homes by 2021. Amazon hopes to get 10,000 of its electric vans deployed by 2022 and all 100,000 by the end of the decade.

Both the small-scale and life-size clay models were designed at the Rivian headquarters in Plymouth, Michigan, where rows of design boards featuring numerous versions of the Amazon delivery van fill an entire side of the studio.

Amazon’s life-size clay model of its electric delivery van sits at the Rivian headquarters in Plymouth, Michigan.
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In another room, Rivian has put together a virtual reality simulation setup to allow drivers to test the new driving experience and offer suggestions for improvement. Amazon says it has consulted heavily with its drivers in working on the truck’s final design, considering certain factors such as loading and unloading of packages, ease of getting in and out of the van, and seat comfort.

“We’re focused on driving efficiency into every aspect of the vehicle design—everything from cabin heating to driver ergonomics to drivetrain design has been optimized for time and energy,” says Rivian CEO RJ Scaringe.

Amazon says the van will be in three sizes with multiple battery configurations to suit various delivery routes. It will come with front-wheel and all-wheel driving options for different terrains and a variety of safety technologies, including automated emergency brakes, lane-keep assist, and a pedestrian warning system. The dashboard will include Amazon’s logistics management system and will provide drivers with the most efficient routes for delivery. It will also integrate Alexa to allow drivers to make hands-free voice commands.

Amazon’s plan to build its own fleet of electric delivery vans is part of its Climate Pledge, a commitment to meet the Paris Agreement in 10 years.

“When we succeed, if we displace those gasoline vehicles with electric vehicles, it will be a large step forward in making our package delivery business sustainable and it has a positive impact on the environment,” says Ross Rachey, director of global last-mile at Amazon.

Amazon is not the only major company that has partnered with Rivian. In January, Ford announced that it is working with Rivian to produce the first electric truck for its Lincoln luxury brand. The startup is also gearing up to release two of its own electric vehicles, the R1T pickup truck, and the R1S SUV, both of which are built on Rivian’s flat-frame skateboard platform. Both vehicles will also come integrated with Alexa.

Amazon reveals design of its Rivian-powered electric delivery van

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Ex-Tesla short-turned-bull bets against TSLA again: ‘Even Elon would short the stock here’


Famed short-seller Andrew Left is shorting Tesla once more. Amidst Tesla’s recent rise, Left seems convinced that the electric car maker’s current success and momentum will be short-lived.

Left is the editor of Citron Research, an investment newsletter geared toward giving information on short-selling to those interested in the stock market. He is experienced in short-selling and has made a career in exposing companies he believes are fraudulent or overvalued.

After Tesla stock (NASDAQ:TSLA) surged on Tuesday morning after the opening bell, Left announced his future plans for about the electric car maker. After stating that Citron promised never to short the company again, Left stated that computers were driving the market and that “even Elon would short the stock here if he was a fund manager.” Left confirmed that he is short TSLA once more in an emailed statement to Benzinga.

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While Left has made a name for himself by short-selling stocks, he went long on Tesla in October 2018. At the time, he still had an open lawsuit against CEO Elon Musk over the latter’s “funding secured” tweet in August 2018. But even this lawsuit was not enough for Left to ignore Tesla’s obvious momentum then. Citron reversed its position on the company’s stock, stating that Tesla’s story has “become too compelling to ignore.”

It is in that spirit, and with a great deal of analysis and due diligence that we can say for the first time, Citron is long Tesla as the Model 3 is a proven hit, and many of the TSLA warning signs have proven not to be significant,” a company said.

Left eventually abandoned his bullish stance on Tesla on April 2019, stating that the company’s cash burn and capital needs were simply too large to warrant confidence. While Tesla stock was battered in the months following Left’s change of heart, TSLA shares did recover after the company posted surprise profits in the third quarter. TSLA shares have since risen 279.6%.

Tesla stock reached a record $968.99 per share on February 4 before dropping to around $887 near the closing bell. Even still, Tesla enjoyed another successful day as the price of the company’s shares has more than doubled since the beginning of the year, where it was valued at about $430 per share.

Tesla shorts have felt major losses since the electric car maker’s massive rally. S3 Partners, a firm that tracks short interest on the Street, has estimated that short-sellers have lost about $12 billion betting against Tesla since the year started. Ultimately, while some analysts and investors continue to think Tesla stock will eventually fall, others believe its historic rise to the top is far from over.

Ex-Tesla short-turned-bull bets against TSLA again: ‘Even Elon would short the stock here’

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Space ‘superstorms’ and their impact on Earth’s protective shield


The European Space Agency (ESA) together with NASA is gearing up for the launch of the Solar Orbiter spacecraft a 3,975-lb. (1,800 kg) sun-observing satellite.

Designed to study the sun up close, Solar Orbiter will take the first photos of the sun’s pole as well as provide scientists with crucial data to help guarantee against space weather.

Most of us look up at the sun and think of it as just a glowing orb in the sky, bathing the Earth in light, but our star has a darker, violent side. (Please do not stare directly at the sun, only Solar Orbiter is equipped to do so. Here are some safe ways to look at our host star.)

The sun regularly produces massive solar flares, which erupt on its surface, spewing X-rays and high-energy particles everywhere. Just eight minutes after the violent outburst, those same X-rays can slam into the Earth’s magnetic field. Most of the time, our protective shield keeps us protected from the sun, but it can be overwhelmed at times.

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High energy particles from the sun run along magnetic field lines, like electric currents run through wires, looking for a release. Most often we see the lighter side of the sun’s wrath, in the form of auroras.

But really powerful ones can cripple communication systems and power grids. Radio signals, like the ones we use to communicate, are able to travel great distances through a section of the atmosphere known as the ionosphere. However, when a powerful solar storm is raging, those signals are cut off by the X-rays emitted by the sun and are ultimately drowned out by crackling static.

A recent study, published in the journal Geophysical Research Letters, indicates that the most powerful solar storms can hit once every 25 years, with less intense ones battering the Earth about once every three years.

The team, led by Dr. S.C. Chapman from the University of Warwick, identifies two types of powerful magnetic storms: ‘great super storms’ and ‘severe super storms.’ These two types are both considered dangerous and capable of causing damage to our valuable infrastructure here on Earth.

A view of the sun as seen by NASA’s Solar Dynamic Observatory. NASA/SDO

Also called geomagnetic storms, these cosmic tempests are caused by disturbances inside the sun that send particles streaming out into space. When they slam against our planet’s magnetosphere, they generate space weather, which can be very catastrophic to our sensitive electronics and power grids.

The most famous of these solar storms occurred in 1859. The Carrington Event is the most powerful geomagnetic storm ever recorded. It knocked out telegraph systems around the world, started a few fires, and even shocked some of the telegraph operators.

In 1989, a similar outburst caused issues in Canada. In Quebec, the province’s power supply station was disrupted and incredible auroras filled the sky with light when a wave of solar particles came in contact with the Earth. People as far south as Texas could see the dazzling light display.

These disturbances look to be increasingly more common and can disrupt all sorts of technology from satellites to global communications systems and more.

The world relies heavily on satellites, which are incredibly vulnerable due to their sensitive parts. Scientists theorize that if a modern-day Carrington event were to happen, it could cost trillions of dollars worth of damages. This is why scientists are using spacecraft, like Solar Orbiter and its counterpart the Parker Solar Probe, to really understand the processes that are taking place.

Space ‘superstorms’ and their impact on Earth’s protective shield

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SpaceX ramps Starship hiring as Elon Musk talks Texas rocket factory’s «awesome» progress


After several successful tests last month, Elon Musk says that SpaceX’s South Texas Starship team is looking to rapidly expand in order to aggressively ramp up Starship manufacturing in a sign that the nascent rocket factory is making excellent progress.

Almost immediately after SpaceX successfully wrapped up its first and second explosive Starship tank tests last month, the company’s Boca Chica, Texas presence started to take on a new atmosphere, reminiscent of the rapid progress made at a since-mothballed Florida Starship facility. Perhaps thanks to the fact that SpaceX’s Boca Chica Starship facilities are adjacent to a dedicated test and launch facility just a mile down the road, it’s looking much less likely that a similar fate will befall its Texas presence.

Instead, SpaceX’s successful Starship tank tests – intentionally destroying two massive propellant tanks – are a testament to the progress the next-generation rocket is making in Texas. In fact, SpaceX CEO Elon Musk has effectively stated that after the most recent tank test, the company is now ready to shift gears and start building the first space-bound Starship prototypes, while the last week or two of SpaceX’s visible Texas activities make it clear that that shift is already well underway.

SpaceX is in the midst of rapidly expanding Starship’s Boca Chica, Texas production facilities. (NASASpaceflight – bocachicagal)
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In simple terms, SpaceX now appears to be moving full speed ahead in a bid to manufacture, assemble, and test the first flightworthy, full-scale Starship prototypes. It’s worth noting that CEO Elon Musk has underestimated the challenge at hand several times in the last 18 or so months of Starship development, frequently suggesting that the first full-scale prototype of the spacecraft would be ready for a challenging flight test and maybe even its first orbital flights as early as 2019.

For a number of reasons, those ambitious targets were not met. To Musk’s credit, the executive is at least conscious of his tendency to be wildly optimistic when it comes to schedules and has effectively tacked on an asterisk that the schedules and deadlines he often publicizes tend more along the lines of “this time-frame is technically possible without breaking the laws of physics” than anything verging on pragmatism. With challenges as complex as those faced in spaceflight, let alone massive, fully-reusable rockets like Starship, it’s hard to be surprised that practical deadlines tend to be miles away from theoretically-possible minimums.

On November 20th, Starship Mk1 suffered a major structural failure during cryogenic proof testing. (NASASpaceflight – bocachicagal)
SpaceX’s first Starship test tank was built primarily outside in the South Texas elements, just like Starship Mk1, but it did use improved welding techniques and a better dome design. (NASASpaceflight – bocachicagal)
SpaceX’s second Starship ‘test tank’ is pictured here shortly before it was successfully pressurized to destruction. (NASASpaceflight – bocachicagal)

As such, it wouldn’t be unreasonable to feel a bit like the townspeople with a boy crying wolf, but there are arguably several reasons for optimism, this time around. Most importantly, as partially pictured above, SpaceX has completed four intentionally destructive tests with full-scale Starship hardware in just the last 2.5 months. Deemed unfit for flight, SpaceX pressurized Starship Mk1 with liquid nitrogen until it burst in November 2019, reaching an estimated 3-5 bar (45-75 psi).

SpaceX spent the following month upgrading both the methods and facilities used to build Starship prototypes in South Texas – a process that is still very much ongoing. However, two recent tests of Starship tanks built with some of those new methods and facilities have unequivocally proven that great progress is being made. The first ‘test tank’ managed 7.1 bar (105 psi) before it burst, while a second tank completed less than three weeks later reached 7.5 bar (110 psi) with water and 8.5 bar (125 psi) with liquid nitrogen on January 28th. Between those tests, Musk revealed that 6 bar was the bare minimum necessary for orbital Starship flights, while 8.5 bar would potentially offer the safety margins needed for crewed Starship flights.

In other words, SpaceX’s last two tank tests have effectively proved that – even with facilities and methods only partially upgraded – the company is ready to begin manufacturing the first truly flight-rated Starship prototypes. In response, Musk recently stated that he was going “max hardcore on” Starship design and production in Boca Chica and revealed that SpaceX would host a second South Texas jobs fair in three weeks to help rapidly staff its growing rocket factory.

In the last two weeks, SpaceX has aggressively ramped up steel ring production, stacked and welded together to form Starship tanks. (NASASpaceflight – bocachicagal)
SpaceX is rapidly assembling what appears to be Starship SN01, expected to be the spacecraft’s first flightworthy full-scale prototype. (NASASpaceflight – bocachicagal)

Looking at the progress SpaceX has made in just the last week, it’s hard to fault Musk’s brimming enthusiasm. Now breaking in new semi-automated welding machines, upgraded production equipment, and two massive sprung structures (i.e. tents), SpaceX engineers and technicians are churning out improved steel rings, tank domes (bulkheads), smaller propellant tanks, and more at a breakneck pace relative to the last year of Starship work. Additionally, at least six of those new rings have been stacked together in two sections, likely representing the effective birth of the first flightworthy Starship – ‘SN01’.

With SpaceX’s new enclosed facilities, much of its South Texas work is now hidden. Still, from what’s visible, it’s safe to say that the company is well its way to completing the first flight – and possibly orbit – worthy Starship prototypes in the near future.

Check out Teslarati’s newsletters for prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket launch and recovery processes.

SpaceX ramps Starship hiring as Elon Musk talks Texas rocket factory’s «awesome» progress

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Tesla’s biggest bull stands firm on TSLA, gets 6,000% gains from options bets


No one could ever accuse ARK Invest CEO Cathie Wood of being a Tesla (NASDAQ:TSLA) bull who does not walk the walk. Being one of Tesla’s most prominent supporters, Wood is deep into her investment with the electric car maker, and this shows in ARK Invest’s TSLA holdings. Wood’s conviction has also paid off, with the ARK CEO netting a 6,000% gain from TSLA options bets that she personally made last year. 

Wood noted in a statement to Benzinga that her strategy is quite simple: when something does not make sense, she takes action. Last year, that exact circumstance happened. Tesla shares dropped to the $170 to $180 per share despite the company improving its Model 3 production output and Elon Musk becoming more tempered on Twitter. During this time, Wood stated that she believed auto the industry did not really understand Tesla fully. The whole scenario presented a unique opportunity for ARK. 

Eventually, ARK could not purchase any more TSLA shares because the firm had already reached its 10% cap with the company. Realizing the existing opportunity, Wood opted to take action herself, buying TSLA call options for her personal account. This was a risky move on the ARK CEO’s part, as options require a stock to move a specific price point at a set expiration date. 

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Wood ended up purchasing January 21 $460 calls when they were trading between $5 and $10. And amidst Tesla’s monster bull run that saw the stock end Monday’s trading at an all-time high of $780 per share, these very same contracts are now trading at about $327. With this, Wood’s trade has potentially generated more than 6,000% worth of returns. 

Wood remains as bullish as ever on TSLA stock, especially in the long-term. In a statement, she noted the Tesla still has room to grow, and the company is poised to fend off competition from more experienced rivals, some of which are expected to be released within the next few years. 

“This is an exponential growth stock, growth company. And we’ve lived in a linear growth world for so long, with the law of large numbers pulling growth rates down, that people find it hard to understand what exponential growth is. Last year when the Tesla killers came out, Audi, Taycan, and Jaguar, when they came out, you know, that’s right in their category. And Tesla’s market share of the electric vehicle market went up, not down. It went up to 18%,” Wood said.

Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.

Tesla’s biggest bull stands firm on TSLA, gets 6,000% gains from options bets

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Tesla’s monster bull run continues as TSLA soars past $880 in Tuesday pre-market


Tesla’s (NASDAQ:TSLA) monster rally, which saw the electric car maker end Monday’s trading with a 19.89% gain at $780 per share, is not showing any signs of stopping. During Tuesday’s pre-market, Tesla shares actually touched the $900 per share level, a new record for the electric car maker.

This is incredibly remarkable for a company that, just a few quarters ago, was trading at around $180 per share. During that time, Tesla critics and short-sellers were dominating the narrative, and many alleged that the Silicon Valley-based electric car maker was at a terminal decline. It may be strange today, but the narrative then was that Tesla had a serious problem for its vehicles, and Model 3 sales are about to tank across the globe. 

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The opposite proved to be true, of course. Following a surprise profit in the third quarter of 2019, Tesla shares recovered and started a massive bull run that continues well into this day. Tesla Model 3 sales also remained strong across multiple regions. Over this time, Tesla shares broke through several barriers, including the once-famed $420 stock price quoted by CEO Elon Musk during his short-lived attempt to take Tesla private back in 2018. 

Things only accelerated when Tesla posted profits for Q4 2019, with the company registering $7.38 billion in revenue and earnings per share of $2.14, beating the Street’s estimates. This new milestone, which was augmented by recent breakthroughs such as the start of local Made-in-China Model 3 production and deliveries in Giga Shanghai, only helped push TSLA stock further, culminating in Monday’s massive 19.89% surge. 

What is rather remarkable is that according to S3 Partners Managing Director of Predictive Analytics Ihor Dusaniwsky, Tesla actually remains heavily shorted. Despite an accumulated loss of over $21 billion since Tesla went public, short-sellers appear to be holding on and doubling down on their positions. This means that inasmuch as Tesla’s stock has risen drastically, a real short squeeze, which would involve mass numbers of short-sellers being forced out of their positions, is yet to happen. 

Tesla stock is being backed by some serious momentum. Apart from the start of local Model 3 deliveries in China from its Giga Shanghai facility, the company’s Model Y program has also been accelerated, with the crossover now expected to begin deliveries in the next few months. This is far earlier than the company’s initial estimates, which listed the Model Y’s deliveries to start in late 2020 instead. Tesla’s battery partner Panasonic has also posted its first quarterly profit from its business with the electric car maker, ultimately curbing speculations that the relationship of the American company and the Japanese firm were in rocky waters. 

With an hour to go before markets open, Tesla stock is trading up 13.44% at $884.84 during Tuesday’s pre-market.

Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.

Tesla’s monster bull run continues as TSLA soars past $880 in Tuesday pre-market

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