That's it. Now get ready for the long back to meet Nov 30 frenzie over the Cybertruck. Looking well past 250... See you on the other side.
The plan is to untie my ARM puts then roll the covered from 225 to 250. If any extra cash, will sell put at 165-195ish.
250? Hmmm what happened to ... "However, I'm still looking for 300 at some point in 2023." Not much left to 2023.
(Semafor) IEA: Rise of clean tech ‘unstoppable’ The global shift to clean energy is “unstoppable,” the International Energy Agency said, although the phaseout of fossil fuels needs to happen faster. The IEA’s annual World Energy Outlook report noted that the “phenomenal” rise of green technologies is reshaping the economy, forecasting that electric vehicle numbers would rise 10-fold and that solar would generate more electricity worldwide than the entire U.S. power system. It said fossil-fuel demand would peak this decade, although remains too high to meet the 1.5 degrees Celsius target. A new study in Nature, though, warned that whatever happens, West Antarctica’s ice sheets will melt significantly over the coming century, leading to sea-level rises that could put hundreds of millions of people at risk.
Elon Musk-led EV behemoth Tesla Inc. (NASDAQ:TSLA) has made its first appearance on Fortune’s annual 100 Fastest-Growing Companies list, landing in the esteemed No. 2 spot. According to a report by Fortune, Tesla’s earnings per share witnessed a three-year average growth rate of 285%. This is the third-highest growth rate of any company on the list. The company’s rise is only surpassed by a construction supply company, sharing the same home state with Tesla. See Also: Tesla Bear Smells ‘Diesel Gate 2.0’ After Edmunds Finds None Of EV Giant’s Cars Has Ever Hit EPA Range Estimate The top spot on the list was claimed by Builders Firstsource, the largest residential construction materials supplier in the U.S. The third spot was taken by Texas-based industrial company, Encore Wire. The only South American company to feature on the list, Sociedad Química y Minera (SQM), headquartered in Santiago, Chile, stood at No.4. In its 38th year, Fortune’s annual list ranks companies based on revenue growth, profits, and stock returns over the last three years. In 2023, the featured companies had a combined market capitalization of $4 trillion, delivering an average annual return of 42% to shareholders. This outpaces the S&P 500 index’s 15% annual return over the same period. Notably, tech giants such as Meta, Amazon, and Netflix did not make it to the list this year, following their drop-off in 2022. Alphabet also exited the list this year, ending a three-year streak. Despite this, the technology sector still holds a significant presence with 17 companies on the list, albeit a decrease from 21, the previous year. Read Next: Tesla Investor Says Elon Musk Overplayed Macro Card As He Details Game Plan To Lift Sagging Volume
While Fortune was backslapping Elon for the past (especially before latest earnings report hmmm), Reuters was out reporting on current day:- More alarm bells sound on slowing demand for electric vehicles Ben Klayman Updated Thu, October 26, 2023 at 4:23 AM EDT·4 min read 1.5k By Ben Klayman (Reuters) - High interest rates are derailing the ambitions of climate regulators and automakers to accelerate the shift to electric vehicles, underscored Wednesday by the scrapping of a GM-Honda partnership and a warning from a battery maker. Electric vehicle sales are still growing strongly, but that demand is not keeping up with the expectations of carmakers and other companies that have invested billions of dollars in the EV space. Expectations for persistently higher interest rates has led companies to alter plans as they eye 2024 warily. "EV demand next year could be lower than expectations," Lee Chang-sil, chief financial officer at South Korean battery maker LG Energy Solution said on Wednesday, due to global economic uncertainty. Also on Wednesday, Honda and General Motors announced they were ending a $5 billion plan to develop lower-cost EVs together just a year after announcing the effort. GM on Tuesday said it would focus near-term EV efforts on meeting demand rather than hitting specific volume targets. "We're taking immediate steps to enhance the profitability of our EV portfolio and adjust to slowing near-term growth," GM CEO Mary Barra told analysts. Investors have responded to the changed outlook. Over the last three months, the iShares Self-Driving EV and Tech exchange-traded fund has plunged more than 24%, far more than the 8.3% fall for the MSCI All-World Index, a proxy for global equities. EV sales are growing, however. They topped 300,000 units in the United States for the first time in the third quarter, according to a Cox Automotive report. They rose 14.3% in September in the European Union and 22% in China, the world's largest EV market. FALLING RAW MATERIAL PRICES Tesla CEO Elon Musk raised the alarm last week in explaining why he was slowing plans for a Mexico factory. "I am worried about the high interest rate environment that we're in," he said on Tesla's earnings conference call. "As I just can't emphasize this enough that the vast majority of people buying a car is about the monthly payment. If interest rates remain high or if they go even higher, it's that much harder for people to buy the car." Other automakers have sounded similar notes of caution. Germany's Volkswagen last week cut its profit margin outlook for the year, blaming negative effects for raw material hedges at the end of the third quarter. Some of those materials are used in EV batteries. Like many other industrial firms, carmakers hedge against commodity price swings, and with EV demand slowing, raw material prices have softened, including those used heavily in batteries. Lithium prices have tumbled 67% so far this year based on spot lithium carbonate prices assessed by Fastmarkets. Prices of cobalt metal on the CME have slid 20% this year and more than halved since May last year. U.S. automaker Ford earlier this month said it would temporarily cut one of three shifts at the plant that builds its electric F-150 Lightning pickup truck, and in July slowed its EV ramp-up, shifting investment to commercial vehicles and hybrids. Shares of Japan's Nidec logged their biggest decline in a decade and a half on Tuesday, tumbling more than 10% on investor concerns over the motor manufacturer's prospects in an increasingly tough Chinese market for EVs. The Japanese motor manufacturer now expects a 15 billion yen ($100 million) full-year loss at its key e-axle business, rather than the profit it had previously seen. E-axle manufacture combines motors, gears and power-control electronics. China's CATL, the world's largest battery maker for EVs, said last week that third-quarter profit rose 10.7%, its weakest quarter since the start of last year due to slowing demand and stiff competition. The company's market share in China tumbled in September to the lowest in more than a year, data showed, underscoring the challenges it faces from smaller rivals and weakening demand. (Reporting by Ben Klayman in Detroit and David Gaffen in New York; additional reporting by Eric Onstad in London and Victoria Waldersee in Berlin; https://www.yahoo.com/finance/news/more-alarm-bells-sound-slowing-160125314.html
This isn't news, it's spin at work. Demand for EVs cannot be linear... After the first wave of highly engaged buyers, you get a second wave of "me too" that are making up the bulk of demand so far. Convincing the average consumer is much harder and there's plenty of war chest money from various powerful industries willing to finance strategies to plant the seeds of doubt/discontent/hate towards the EV industry. There's no question that the US will be a tough market, because It's an oil producing nation and its biggest industries are in oil and gas. Also, America is highly politicized on the environment and EVs. Republicans on one side, Democrats on the other. Musk is treading a fine line pitching EVs with a libertarian slant to convince the reds that EVs are color blind. Nonetheless, at least in Europe, several other nations and a few US states, the transition to EV is framed by regulations. Government responsibility will be to ensure the infrastructures are in place to accommodate the transition. Again, the US government has proven over and over its incompetence asserting its role and efficiently implementing policies in an environment where every swinging dick can upset a roll out through the court system. Instead we throw money at problems until everyone is satiated enough to shut up. Some states will make it hard to drive anything but EVs while others will make it hard to buy them. We call it freedom of something.