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Tesla has postponed the launch of its lower-cost Model Y, internally known as E41, in the US, with production now expected to start as late as early 2026. The vehicle will be smaller and 20% cheaper to produce than the current model, which starts at around $49,000. This delay is attributed to challenges such as aging vehicle models, tariff-related issues, and increasing competition in the EV market, where Tesla's market share has dropped significantly.
Genesis Energy (NYSE:GEL) has been upgraded by Wells Fargo & Company from "equal weight" to "overweight," with a new price target of $18.00, indicating a potential upside of 36% from its current price of $13.24. The company reported a quarterly loss of $0.58 per share, missing estimates, and has a market cap of $1.62 billion. Institutional investors hold 66.82% of the stock, reflecting growing interest in the pipeline company.
SoundHound AI (SOUN) stock surged 16.4% to close at 19.69, following a price-target increase from Wedbush Securities analyst Daniel Ives, who raised it to 22 from 10. The company, recognized as an underappreciated player in AI, is set to expand its market presence in automotive and restaurant sectors, with plans to enter e-commerce by 2025. SoundHound's partnership with Nvidia aims to enhance its generative AI voice technology, positioning it as a long-term winner in the AI revolution.
Genesis Energy, L.P.
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Tesla postpones affordable Model Y launch amid production and market challenges
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22:40 16.12.2024
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