{"id":36722,"date":"2023-07-17T09:36:33","date_gmt":"2023-07-17T13:36:33","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/tesla-stock-rises-as-first-cybertruck-arrives-rivian-stock-is-down\/"},"modified":"2023-07-17T09:36:34","modified_gmt":"2023-07-17T13:36:34","slug":"tesla-stock-rises-as-first-cybertruck-arrives-rivian-stock-is-down","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=36722","title":{"rendered":"Tesla Stock Rises as First Cybertruck Arrives. Rivian Stock Is Down."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000693854\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>Tesla stock was rising on Monday after the electric vehicle maker produced the first Cybertruck on its assembly line in Austin, Texas. The electric pickup is the company\u2019s first major launch since the Model Y in early 2020. <\/p>\n<p>The new truck enters an increasingly crowded market for electric pickups.<br \/>\n        Rivian Automotive<br \/>\n       (ticker: RIVN) has its R1T battery-powered truck.<br \/>\n        Ford Motor<br \/>\n       (F) makes the F-150 Lightning. And<br \/>\n        General Motors<br \/>\n       (GM) launches the electric Silverado this year. <\/p>\n<div class=\"paywall\">\n<p>Rivian\u2019s business is mostly electric pickups, so it makes sense that its shares were reacting the most of the three on Monday, with a loss of 0.9% in premarket trading. Ford and GM stocks weren\u2019t doing much. <\/p>\n<p>\n        Tesla<br \/>\n       shares got a Cybertruck boost, rising 1.6% to $286. Futures on the<br \/>\n        S&amp;P 500<br \/>\n       were down 0.1%.<br \/>\n        Nasdaq Composite<br \/>\n       futures are flat.  <\/p>\n<p>A point to remember is that one truck won\u2019t be enough to help Tesla shares out for long. Just how many Cybertrucks Tesla can build and deliver in the second half of 2023 will go a long way to determining how the stock will perform the rest of the year. <\/p>\n<p>The Cybertruck\u2019s arrival is a positive for the company, but there are still plenty of questions to be answered. Prices were originally set at roughly $40,000 to $70,000, but that was back in 2019, before inflation took hold. <\/p>\n<p>Whether Tesla will keep the original pricing on all of the early orders and what that means for margins isn\u2019t clear. <\/p>\n<p>Some answers could be forthcoming in Tesla\u2019s second-quarter earnings report, slated for Wednesday evening. Wall Street expects Tesla to produce about $2.7 billion in operating profit from $24.8 billion in sales, compared with $2.7 billion in profit from $23.3 billion of sales in the first quarter. The second-quarter estimates don\u2019t look like a stretch, especially since Tesla delivered more than 466,000 vehicles in the second quarter, up from about 423,000 in the first quarter.<\/p>\n<p>The second-quarter estimates indicate Wall Street thinks Tesla\u2019s operating profit margins will still be in the 11% range, a little lower than in the first quarter. That might be conservative too, but analysts don\u2019t want to get burned again. Tesla\u2019s operating profit margins fell short of expectations for the first quarter and shares dropped almost 10% after earnings were reported April 19. <\/p>\n<p>\u201cThis should be the low point of auto margin but commentary about future price cuts versus benefits to margin will be key,\u201d wrote Baird analyst Ben Kallo on Monday, previewing the quarterly report. \u201cMargin tailwinds should trump additional price adjustments.\u201d <\/p>\n<p>Kallo rates Tesla shares at Buy. He raised his target for the stock price to $300 from $252 a share on Monday. <\/p>\n<p>Coming into Monday trading, Tesla stock is up about 70% since the dip after earnings and up almost 130% so far in 2023. Several factors have boosted shares, including rising deliveries, deals with auto makers allowing them to use Tesla\u2019s supercharging network for their EVs, and the approaching Cybertruck. <\/p>\n<p>The oddly-shaped pickup won\u2019t help profit margins in the second quarter, but investors will still be interested in an update about it on Wednesday. <\/p>\n<p>Analysts project about 10,000 Cybertruck deliveries for all of 2023. If Tesla is producing the truck off its assembly line now, that estimate could turn out to be light. Cybertruck\u2019s body panels are made out of stainless steel, which isn\u2019t typical. And the frame uses some new technology for Tesla. It has been harder to bring to market than the Model Y. Still, Tesla made roughly 80,000 Model Ys in its first three quarters of production. <\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/tesla-stock-cybertruck-ev-pickup-margins-878dfb1c?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla stock was rising on Monday after the electric vehicle maker produced the first Cybertruck on its assembly line in Austin, Texas. The electric pickup is the company\u2019s first major launch since the Model Y in early 2020. The new truck enters an increasingly crowded market for electric pickups. Rivian Automotive (ticker: RIVN) has its [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":36723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-36722","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla Stock Rises as First Cybertruck Arrives. Rivian Stock Is Down. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Tesla stock was rising on Monday after the electric vehicle maker produced the first Cybertruck on its assembly line in Austin, Texas. 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