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 to utilize side cameras to help drivers back up, confirms Elon Musk


Tesla owners may soon have the benefit of using the side cameras of their vehicles when backing up. Elon Musk confirmed that such functionality can be added in future updates after a brief exchange with a Tesla owner on Twitter.

Tesla vehicles have eight cameras that practically serve as the eyes of the vehicle, giving it a 360-degree view of its environment. When backing up though, drivers rely only on the rearview camera and sensors to park. Being able to utilize the side cameras will give drivers a better view of any spots they want to back up into, thereby reducing annoying incidents of wheel rash, dings, or in some cases, dents.

The rear view camera has ample ability to see a max distance of 50 meters while the rearward looking side cameras and the forward looking cameras have a view of 100 meters and 80 meters, respectively.

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The ability to add vehicle features via over the air updates gives Tesla a huge advantage over legacy vehicle manufacturers. Such OTA software updates have given the Model 3, Model S, and Model X improved performance, enhanced functionality, and new features. Even Teslas that have already been on the road still get improvements, and almost all of these updates (save for the Acceleration Boost Upgrade that was offered for Model 3 owners) are rolled out for free.

Tesla CEO Elon Musk loves to interact with the community of Tesla vehicle owners and fans via Twitter and this practice provides the electric carmaker the valuable feedback from owners who use the vehicles in the real world. This is one of the reasons why the Cybertruck, an otherwise polarizing vehicle, included many features that were suggested by the community.

Recently, Musk also confirmed that future updates will let Tesla vehicles create micro maps that would help owners avoid potholes. These micro maps will also be shared with fellow Tesla owners who can use them when they drive on the same road. In earlier Twitter conversations, Elon Musk also nodded on the idea of adding a feature that will help protect bicyclists from unintended door openings or more commonly referred to as “dooring.”

Another simple but useful feature also brought up during conversations with Tesla owners on Twitter is Nap Mode. This feature will allow users to sleep in the car while the climate control of their Tesla is on and wake up to an alarm clock.

Tesla to utilize side cameras to help drivers back up, confirms Elon Musk

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Tesla is winning the next-gen auto industry’s war on data


Tesla has become the hottest car maker in America and they are doing it by focusing on data, which is something that legacy automakers are not really doing very well today. While Detroit continues to push traditional ad campaigns that focus on speed, performance, and safety, Tesla has taken a drastically different approach — and it is evidently paying off.

In the past decade, a new trend has arisen in the American automotive market. According to Inc.com, millennials perceive traditional cars as expensive and pollution-pumping modes of transportation. Amidst the rise of ride-hailing services, the next-generation of car buyers do not seem very eager to get behind the wheel of a personal vehicle, or at least one that is conventional, and acquired through a conventional dealership.

The main issue is that cars are simply not compelling or “fun” to consumers anymore. They are expensive and boring, and unfortunately, none of the traditional car manufacturers have been able to solve the riddle. Then there is Tesla. In a 60 Minutes segment, Scott Pelley said that Tesla CEO Elon Musk was revolutionizing vehicles, in the same way Steve Jobs changed the mobile industry with the iPhone.

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Part of the reason behind Tesla’s success so far is the company’s focus on developing vehicles that are built from the ground up with tech. Inasmuch as traditional cars are built on horsepower, Teslas are built on data. Data that’s gathered from every vehicle in Tesla’s fleet, and data that has the potential to improve the company’s cars in terms of performance, safety, and features. Teslas have had over a decade to master this, and the company has gotten very good at its tech-centered approach.

Tesla currently utilizes data from its nearly 900,000 vehicles currently on the road to give engineers and analysts in Silicon Valley an idea of what they need to improve upon. For example, when Tesla rolled out the highly anticipated release of Smart Summon, the company utilized information from over one million uses of the software. Tesla uses the same strategy with its Autopilot and Full Self-Driving suite as well, which are stepping stones towards CEO Elon Musk’s attempts at reaching autonomy.

Meanwhile, legacy automakers are continuing to push SUVs and trucks using tried and tested strategies that are not as effective today as they were years ago. Veteran automakers such as Ford and GM have started adopting a tech-centered approach in their respective electric cars and autonomous programs, but their core remains traditional. To try and keep up with Elon Musk and the company he heads, some are even releasing “competitors” to Tesla’s Self-Driving capabilities, but they simply fall short because of a lack of data.

Take GM’s Super Cruise, for example, which is robust in its own right. While it is a capable driver-assist system that can possibly rival Navigate on Autopilot, the system can only be used in a fraction of areas that Tesla’s system can be engaged in. A lot of this gap can be attributed to the mountains upon mountains of real-world driving data that Tesla’s has, and legacy automakers don’t.

And the gap is only widening, as suggested by Lucid Motors CEO Peter Rawlinson in a recent statement. Ultimately, it appears that Tesla is pulling away from its competitors in the car industry. While other companies are struggling to keep up with the transition to electric transportation, Tesla is compiling millions of pieces of data in its efforts to improve.

Tesla is winning the next-gen auto industry’s war on data

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Tesla Cybertruck blasts “Back to the Future” in amazing fan-remake


The Tesla Cybertruck is back at it again, but this time in a dubbed version of the 1985 classic “Back to the Future”.

A YouTube account by the clever but appropriate name of Elon McFly uploaded a nearly perfect remake of the infamous scene where Doc Brown and Marty McFly make their time-traveling DeLorean disappear into thin air after reaching 88 miles per hour.

This time the car was replaced with the Tesla Cybertruck in what was satirically uploaded with the title of “[DELETED SCENES] A New Time machine? Tesla Cybertruck 2020”. The video shows a Tesla Cybertruck with its unmistakable stainless steel exoskeleton taking the place of Doc Brown’s classic DeLorean that eventually travels back to November 5, 1955. As the Cybertruck blasts back in time, a California license plate reading “LOL GAS” is the only shred of the car that remained.

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What’s incredible about the remake of this iconic scene in cinema history is the fact that whoever is responsible for creating the render of the Cybertruck in the scene did an amazing job of making it nearly identical to the actual film. The angles, background, and internal lights that Doc and Marty installed in the DeLorean were all present in the Cybertruck remake. The only thing that seemed to be missing from the Tesla version was Doc’s dog, a Berger Picard breed named “Einstein”. We can only assume if a pup was included in the Cybertruck remake, it would obviously be named “Nikola” or “Tesla”.

The inclusion of the celebrity-endorsed Cybertruck is another indicator that the vehicle has taken on the warm embrace of pop culture. And we can only hope that this digital masterpiece will make an onscreen appearance in the second installment of “Back to the Future.”

Watch Elon McFly’s remake of Back to the Future with the Tesla Cybertruck.

Tesla Cybertruck blasts “Back to the Future” in amazing fan-remake

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SpaceX’s first NASA astronaut launch closer than ever as spacecraft and rocket near Florida


According to an engineer’s February presentation, SpaceX is on the brink of shipping its first NASA astronaut-rated Crew Dragon spacecraft to Kennedy Space Center – arguably the company’s biggest milestone yet on the path to human spaceflight.

In the last year, SpaceX’s Crew Dragon program has undeniably stumbled a few times, suffering challenging parachute failures and the catastrophic explosion of the first flight-proven Crew Dragon capsule. However, the year has been filled with far more successes. By all appearances, Crew Dragon’s parachute issues have been completely solved, while SpaceX successfully static fired an upgraded Crew Dragon’s SuperDraco engines before launching a flawless in-flight abort (IFA) test just last month.

Prior to all of this, SpaceX’s Crew Dragon spacecraft completed what NASA deemed a “flawless” and “phenomenal” orbital launch debut, docking with and departing the space station without issue before safely reentering Earth’s atmosphere and splashing down in the Atlantic Ocean. Now, ten months after that flawless debut, SpaceX is perhaps just a week or two away from reaching a major milestone ahead of its first NASA astronaut launch.

In just a few short months, this scene could be repeated – but with NASA astronauts at Crew Dragon’s helm. (NASA)
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Part of some kind of Kennedy Space Center (KSC) event on February 1st or 2nd, SpaceX Director of Vehicle Integration Christopher Couluris gave an exceptionally insightful presentation that was apparently recorded and (very) briefly available on YouTube. Aside from a great deal of new and useful information on Falcon booster reusability, Starship manufacturing, and more, Couluris also teased some major news for SpaceX’s Crew Dragon spacecraft.

SpaceX has finally set the date for Crew Dragon's In-Flight Abort test. (Teslarati - Pauline Acalin)
Excluding Falcon 9, all pieces of SpaceX’s first astronaut-rated Crew Dragon spacecraft are visible in this one frame. (Teslarati – Pauline Acalin)
Assigned to Crew Dragon’s Demo-2 astronaut launch debut, SpaceX Falcon 9 booster B1058 successfully completed a routine static fire test back in August 2019. (SpaceX)

In short, Couluris revealed that the Crew Dragon spacecraft – capsule C206 and an expendable trunk – assigned to SpaceX’s ‘Demo-2’ NASA astronaut launch debut could arrive at the company’s Florida Dragon processing facilities as early as mid-February, just a week or two from now. At the same time, comments the SpaceX engineer made about the number of SpaceX rocket boosters currently in Florida heavily implied that the Falcon 9 rocket assigned to said astronaut launch debut is already at KSC Launch Complex 39A (or at least nearby).

In other words, after Crew Dragon arrives, SpaceX will have all the hardware on hand and ready for its first NASA astronaut launch – arguably the single most important mission in the company’s history. Barring calamity, all that will remain is a few weeks of processing and an indeterminately long period of NASA/SpaceX reviews and paperwork. Elon Musk recently stated that he was confident that Crew Dragon Demo-2 would be fully ready to launch as early as April 2020, although May or June are also a strong possibility.

Falcon 9 and Crew Dragon stand vertical at Pad 39A for the second time ever on January 17th, 2020. (Richard Angle)

Funded by NASA and designed and built by SpaceX, Crew Dragon (Dragon 2) is an upgraded version of the company’s workhorse Cargo Dragon (Dragon 1) spacecraft, which has successfully performed 18 International Space Station (ISS) resupply missions in just eight years. While there’s a chance that SpaceX will ultimately use Crew Dragon for its own needs, like private orbital tourism, the spacecraft’s primary purpose is to routinely carry NASA astronauts to and from the Space Station – a capability the US has not had since NASA and Congress prematurely killed the Space Shuttle in 2011.

SpaceX’s Crew Dragon spacecraft – along with Boeing’s delayed Starliner – is intended to fill a void the Space Shuttle left in 2011. (Richard Angle)

Originally intended to launch as early as 2017, both SpaceX and Boeing suffered major delays as they worked through the many challenges associated with human spaceflight and grappled with several years of egregious Congressional underfunding.

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

SpaceX’s first NASA astronaut launch closer than ever as spacecraft and rocket near Florida

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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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Elon Musk unlocks 2nd mega-bonus milestone after Tesla soars to $159 billion


Tesla stock (Nasdaq: TSLA) rose yet again to new heights following a meteoric $100 per share surge at the beginning of this week and closing at $887 at the end of the trading day on Tuesday. The new record sets Tesla’s market capitalization at $159 billion, thereby taking Tesla CEO Elon Musk one step closer to the second tranche in his massive multi-billion payout package passed in 2018.

If Musk is able to maintain a $150 billion average market capitalization for all trading days in the applicable trailing six calendar month period or 30 calendar day period, he will have cleared the second market capitalization milestone in his shareholder-approved payment plan. He must also meet certain operational targets to unlock the second tranche of twelve. Musk passed the first market value milestone earlier this month when Tesla broke the $100 billion barrier. Each time Musk unlocks one of the 12 tranches in his 10-year payment plan, he moves another step closer to unlocking 20 million stock options.

The Tesla chief does not have a salary. Instead, he is on a 10-year performance package that includes stock options that vest only if he succeeds in meeting certain market capitalization and operational milestones. It’s a high-risk plan but it’s designed to ensure Musk executes. It’s also bound to ring in massive rewards for the electric vehicle titan, since he could stand to gain Tesla stocks with a potential worth of $55 billion. At the time shareholders approved the payment plan in 2018, the package was worth $2.6 billion.

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Musk’s performance package is patterned closely to a similar 5-year payment plan approved for him in 2012. The new package consists of 12 tranches, with each tranche requiring Musk to meet a market capitalization and an operational milestone. For each tranche, Musk has the option to vest in stocks that correspond to 1% of Tesla’s total outstanding shares at the time the plan was approved.

The first tranche is unlocked when Tesla hits $100 billion in market capitalization and achieves a separate operational goal. Each succeeding tranche must see Tesla adding another $50 billion to its market value along with an operational target. The ultimate goal is to hit a total of $650 billion in market capitalization in 10 years, which will put Tesla somewhere around the league of Apple and Google, which are valued at $1.4 trillion and $996 billion respectively.

Tesla is currently valued past $150 billion, which puts it way ahead of the Big Three car companies in the US. Its current market value is greater than General Motors ($49 billion), Ford ($36 billion), and Fiat Chrysler Automobiles ($18 billion) combined. If Tesla continues to see more of its financial gains, it may not take long before it overtakes Toyota, which is currently valued at $229 billion, as the most valuable car company in the world.

The latest rise comes after another huge surge in stock prices after Tesla partner Panasonic reported profits for the first quarter due to its partnership with Giga Nevada. The Japanese battery maker announced that Tesla ramping up production of its electric vehicles has allowed Panasonic to push down costs and erase losses. Tesla stock rose by more than 20% and ended the day at $780 following Panasonic’s earnings report.

Elon Musk unlocks 2nd mega-bonus milestone after Tesla soars to $159 billion

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UK gives death sentence to internal combustion cars, hybrids included


The United Kingdom’s ban on petrol vehicles has been formally moved up by five years, from 2040 to 2035. The decision was announced by UK Prime Minister Boris Johnson at the United Nations climate summit COP26 in November.

Interestingly, the UK’s upcoming ban actually includes hybrid vehicles, which have long been promoted by veteran carmakers as “electrified” cars. Yet save for plug-in hybrids, which can be charged from an EV charging station, hybrids like the Toyota Prius still use petrol as their sole source of fuel.

Historian Sir David Attenborough believes that the event was “encouraging” as many of the leaders were instrumental in coming up with new ideas to attack the global climate crisis. One of the ideas was the acceleration of phasing out petrol-powered cars, an idea that has been adopted by many countries over the past few years.

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“The longer we leave it, the worse it is going to get,” Attenborough said. “So now is the moment. It is up to us to organize the nations of the world to do something about it.”

The idea to move the proposed date of banning gas-powered cars from the UK’s roads was brought up by Boris Johnson. He believed 2035 was realistic and necessary to prevent detrimental effects on the environment. With hybrid cars now a part of the ICE ban because of their need for petrol, the UK will be focusing on pushing pure electric cars like the Tesla Model 3 and hydrogen cars like the Toyota Mirai.

The Annual World Economic Forum Meeting, known as Davos, recently took place in Switzerland. Some of the world’s most powerful leaders, along with the faces who are commonly matched with climate issues, were in attendance to talk about sustainable solutions. The important thing to note about these meetings where climate issues are discussed is the fact that they are being held to begin with. It is agreed upon by many of the world’s leaders that change is needed so the world can move forward with confronting the climate crisis.

A key piece of cutting down on carbon emissions is the adoption of electric cars across the globe. This is something that American electric car maker Tesla has been aiming to do. The UK’s adaptation of a ban on petrol will help the environment in many ways, most importantly by reducing the emissions of petrol-based cars in the country, even if they’re coming from what are promoted as “electrified” vehicles.

UK gives death sentence to internal combustion cars, hybrids included

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