Updates
Later, 9:47 a.m. CT: I was wondering why Tesla was having a bad day. This is the reason -- Tesla "adjusts" prices again -- hikes starting prices for Model X, S, and slashes price of Model 3:
Tesla, who wants you to know that they are definitely, certainly not facing a demand problem, has again dropped the price of its Model 3 while bumping up starting prices of its Model S and Model X in what appears to be a push to drive more Model 3 sales and higher margin Model S and X sales.
The move comes days after the company reported record Q2 deliveries, according to Reuters. On Tuesday, Tesla limited variants of its Model X and Model S to "Long Range" and the more expensive "Performance" models.
The company also slashed the price of its now entry-level "Long Range" variants. This means that the new starting price for these models has gone up to $84,990 for the Model X and $79,990 for the Model S.Tesla: obviously a luxury car; nothing to do with "saving the world." But at $40,000, Tesla is "giving away" it's Model 3. In China, the starting price for the Model X is $115,068. Am I missing something here?
The reason Tesla is "pushing" the Model 3? I would argue that it's across the board, all automobile manufacturers, not just Tesla: no one wants sedans any more. The Model 3 is a "cheap" sedan. Time to phase it out. It was a mistake. No one wants it. The risk for Tesla is that the Model S is also a sedan. Folks want SUVs and cross-overs. The X is a cross-over, but, wow, the back seat is tight. I think when folks actually compare the X to other cross-overs / SUVs they will be disappointed; they will have to give up a lot to drive a Tesla. For $100,000 one can get an incredibly nice "real" SUV or crossover.
Original Post
- Goldman Sachs, link here.
- early winner of earnings season
- surpassed expectations on both top and bottom lines, but also hiked its quarterly dividend to $1.25 from 85 cents
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GS: surges. Up 2.5%. Up over $5/share, now trading at $217.
How are the others doing?
- NOG: after a bad day yesterday up 1% today; it's not that the oil companies won't do okay over time, it's just that there are so many other better places to put your money right now; see disclaimer
- JAG: up a bit, after a bad yesterday
- SRE: down slightly; essentially flat
- CVX: down a third of a percent
- D: haven't looked at this one in a long, long time -- trading near its 52-week high
- Vicki's company: down about a percent today
- TSLA: not having a good day
- T: flat
- DE: flat
- TSCO: after a great day yesterday, up 1% today
- XLNX: having a rough day
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