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Tesla's stock is down for the ninth week in a row. BI readers got an early signal trouble was coming.
Business Insider· 2025-03-23 10:41
Tesla's Stock Performance - Tesla's stock has not had a winning week since President Trump took office, indicating a prolonged decline [2] - Investor Ross Gerber predicts a potential 50% decline in Tesla's stock by 2025, with shares already down about 20% since the report [3] - The stock has experienced a nine-week losing streak, reflecting ongoing challenges [3] Market Challenges - Tesla faces declining sales in Europe and competition from Chinese rival BYD, which has introduced technology allowing for five-minute car charging [4] - There is a noted downdraft in resale values and consumer backlash against Elon Musk's political views, alongside concerns about his focus on cryptocurrency [4] - Even traditionally supportive analysts, like Dan Ives, have begun to express skepticism about Tesla's prospects [4] Government Support and Ethical Concerns - Despite the challenges, Tesla retains support from government figures, including President Trump and Commerce Secretary Howard Lutnick, although this has raised ethical concerns [5] - The promotion of Tesla by government officials is not yielding the desired results, complicating the company's public image [5] Potential for Recovery - Analysts from Cantor Fitzgerald have identified seven potential catalysts that could positively impact Tesla's business in the near future [6] - Elon Musk's recent all-hands meeting demonstrated his ability to influence employee sentiment, urging them not to sell their Tesla stock, which has garnered some positive reactions [6] - However, investor Ross Gerber remains pessimistic about a near-term rebound for Tesla's stock [6]
Google says a scam network made thousands of fake businesses on Google Maps to collect and sell user data
Business Insider· 2025-03-22 09:10
Core Viewpoint - Google is taking legal action against a Maryland man for creating fake business listings on Google Maps and selling personal information of users who interacted with those listings [1][8]. Group 1: Legal Action and Allegations - The lawsuit alleges that Yaniv Asayag, along with up to 20 co-conspirators, engaged in fraudulent activities by creating and modifying business listings on Google Maps and Google Search [1][2]. - Google claims that the group lured consumers to fake business pages, which were enhanced with fake reviews, and collected personal information from those who contacted the fake businesses [3][5]. Group 2: Nature of the Scam - The fraudulent activity is described as a "lead generation" scam, which can be legitimate when based on real data, but in this case involved deceptive practices [4][8]. - The lawsuit highlights that the scammers sold users' personal information to legitimate businesses known for predatory behavior, such as overcharging or extortion [6]. Group 3: Google's Response and Tools - Google General Counsel Halimah DeLaine Prado emphasized that the company does not tolerate fake business listings and employs various tools to protect businesses and users [2]. - The ongoing litigation is part of Google's broader efforts to combat impersonation schemes [2].
Elon Musk's surprise all-hands brings Tesla's biggest bull back from the brink
Business Insider· 2025-03-21 13:55
Elon Musk hosted a late-night Tesla all-hands on Thursday and addressed the plunging share price.Wedbush analyst Dan Ives hailed the meeting as a "step forward" that showed Musk was "reading the room."The ultra-bull previously warned Tesla was in crisis and said Musk needed to spend less time on DOGE.Elon Musk's surprise late-night all-hands has already won over one Wall Street analyst. Wedbush Securities analyst Dan Ives, traditionally one of Tesla's most bullish followers, said the all-hands was a "much-n ...
Tesla springs last-minute public all hands on staffers, confusion ensues
Business Insider· 2025-03-21 01:41
Core Points - Tesla held an all-hands meeting to discuss recent achievements, but the short notice caused confusion among employees [1][2][6] - The company faced additional confusion when a livestream link was posted and then deleted shortly before the event [3][6] - Tesla's stock has declined over 37% year-to-date, and protests have occurred at sales and service centers [4] Employee Reactions - Employees expressed confusion regarding the timing and short notice of the all-hands meeting [2][6] - The unusual timing of the meeting, held outside regular work hours, contributed to the confusion [2][6] Livestream Issues - A livestream was initially posted but ended and deleted about 30 minutes later, leading to further confusion [3][6] - A new livestream was restarted shortly before the meeting, but it remained silent for a period [3] Company Performance - Tesla's stock has seen a significant decline of over 37% year-to-date [4] - The company has been facing protests at its sales and service centers in recent weeks [4]
FedEx warns of 'continued weakness and uncertainty' in the US industrial economy
Business Insider· 2025-03-20 22:53
Economic Outlook - FedEx revised its financial outlook downward due to "continued weakness and uncertainty" in the US industrial sector [1][4] - The CEO indicated that freight and business-to-business demand were less soft in the third quarter compared to the previous period, but not enough to support the company's December guidance [1] Financial Performance - CFO John Dietrich stated that the macro environment is not expected to significantly improve, at least for the first half of 2026 [2] - FedEx shares fell approximately 5% in after-hours trading following the announcement [2][4] Cost Management - The company highlighted several cost-cutting and efficiency initiatives to counter economic headwinds, including the impact of reduced revenue from the end of a contract with the US Postal Service [2] Customer Behavior - FedEx's chief customer officer noted that customers have largely not chosen to ship goods early to avoid new import charges, with only one customer attempting it and regretting the decision due to excess inventory [3] - There are indications that higher prices may be forthcoming, as many customers are anticipating price increases or have already implemented them [3]
It's another recall for Tesla's Cybertruck, this time for 46,000 of them
Business Insider· 2025-03-20 11:39
Tesla is recalling just over 46,000 Cybertrucks.It's the eighth recall for the vehicle since it went on sale in late 2023.The NHTSA said an exterior panel could detach and "become a road hazard, increasing the risk of a crash."Tesla is recalling around 46,000 Cybertrucks after the transport safety agency warned that an exterior trim panel could detach while the vehicle is in motion. The NHTSA bulletin said a cant rail — a stainless-steel exterior trim panel — could "become a road hazard, increasing the risk ...
Tesla's most bullish analyst says 2 things need to change
Business Insider· 2025-03-20 07:23
Wedbush Securities analyst Dan Ives has consistently been bullish on Tesla.But Ives said the company is in a "crisis" that only Elon Musk can solve.Ives wrote in a Wednesday memo that Musk needs to balance his time with DOGE and Tesla.Tesla's most bullish Wall Street analyst said Elon Musk's company is in a "crisis," and only its CEO can fix it. Wedbush Securities analyst Dan Ives, who has consistently been optimistic about Tesla's long-term outlook, wrote in a joint note on Wednesday that the EV maker is f ...
Commerce Secretary Howard Lutnick hawks Tesla stock on TV: 'It'll never be this cheap again'
Business Insider· 2025-03-20 04:02
Group 1 - Commerce Secretary Howard Lutnick advocates for Tesla, stating that the stock is currently undervalued and will not be this cheap again [1][8] - Lutnick emphasizes the innovative technology and robots being developed by Tesla, suggesting that future investors will regret not buying the stock now [1] - Tesla's stock has seen a decline of over 50% from its peak closing price of $479 in mid-December, closing at approximately $235 recently [3][8] Group 2 - The decline in Tesla's stock price is attributed to weakening sales and controversies surrounding Elon Musk's political engagements [4] - Lutnick expresses confidence in Musk as a strong investment choice, regardless of whether the current stock price represents the bottom [4] - Recent protests against Musk have affected Tesla showrooms, with Musk attributing the unrest to political opposition [6][7] Group 3 - Lutnick, prior to his government role, was the chairman and CEO of Cantor Fitzgerald, which holds Tesla shares [3] - Trump has publicly supported Musk by purchasing a Tesla Model S, indicating confidence in Musk and the company [5][6]
In leaked memos, Google bosses address the $32 billion Wiz deal: 'We don't make deals like this every day'
Business Insider· 2025-03-19 17:52
Core Insights - Google plans to acquire cybersecurity startup Wiz for $32 billion, marking the largest deal in the company's history and the biggest acquisition of the year [1][9] - The acquisition is seen as timely due to the increasing shift of customer data to the cloud and the complexities introduced by multicloud environments [2][3] - The deal aims to enhance security integration with software development tools, addressing the rising cybersecurity threats exacerbated by AI [4][5] Company Strategy - Google Cloud CEO Thomas Kurian emphasized the need for improved cybersecurity tools as customers expand their software usage [4] - The acquisition is expected to accelerate organizations' security capabilities and promote the adoption of multicloud solutions [5] - Analysts noted that this acquisition addresses a gap in Google's cloud security offerings compared to competitors like Amazon and Microsoft [7] Regulatory Considerations - The acquisition is subject to regulatory approval and is anticipated to close in 2026, pending scrutiny [7] - Google CFO Anat Ashkenazi highlighted that the deal will be a significant test for antitrust policies [7] Operational Independence - Until the acquisition is finalized, Google Cloud and Wiz will operate as independent entities, with guidance for teams to follow during this period [8]
Microsoft is replacing its chief people officer as it rethinks performance reviews. Read CEO Satya Nadella's email.
Business Insider· 2025-03-19 16:36
Microsoft has replaced its chief people officer as it overhauls performance reviews.Kathleen Hogan is switching to a role in the "Office of Strategy and Transformation."Amy Coleman, a longtime HR executive, will step in as the new chief people officer.Microsoft has replaced its chief people officer as the company rethinks its performance review process. CEO Satya Nadella announced in an email to employees on Wednesday that Kathleen Hogan will leave the chief people officer position and take on a new role as ...