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Today's big stories

Tesla delivered a record number of cars last quarter
There are four reasons the bitcoin rally could be about to go from strength to strength – Read Now
Shein is in talks to raise around $1 billion

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What’s Going On Here?

Tesla announced over the weekend that it delivered a record number of cars last quarter, and it’s heard rumors that records are even bigger in the Lone Star state.

What Does This Mean?

Tesla was up against it last quarter: the EV maker’s all-important Shanghai factory had to shut down in March after Covid outbreaks forced the region into lockdown. And that’s on top of the shortage of chips and parts that continues to hobble companies far and wide. Fortunately, the Tesla name carries more weight than your garden variety carmaker: it was able to use its sheer industry presence to wangle the parts from suppliers it needed to keep production going. That might be why Tesla delivered a better-than-expected 310,000 cars last quarter – 68% more than the same time last year and a new quarterly record.

Why Should I Care?

The bigger picture: Build, build, build.
Still, analysts reckon those supply issues stopped Tesla from delivering as many as 25,000 EVs last quarter – all of which still need to be shipped out in the near future. And given that its Shanghai factory workers’ hands are tied for the foreseeable future, the EV maker will be hoping its new German factory – which opened its doors last month – will help it pick up the slack. It’s also due to open a factory in Texas later this week, and it’s rumored to have more in the pipeline to help it make the most of mammoth demand.

Zooming out: Elon’s branching out.
Elon has been a busy boy: news broke on Monday that the Tesla CEO has built up a nearly 10% stake in Twitter – a revelation that’s come hot on the heels of speculation that he might start his own social media platform (tweet this). Investors, then, reckon he could take on a bigger role in – if not end up completely buying out – Twitter, and they seemed to like the idea: they sent the social media company’s shares up 26% on the news.

You might also like: What investors are getting wrong about the EV market right now.

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Analyst Take

The Bitcoin Rally Is (Provisionally) Back, Baby!

By Jonathan Hobbs, Analyst

What’s Going On Here?

Bitcoin’s been on a tear these past two months, rising 18% against the US dollar after a pretty shocking start to the year.

The question now is whether it can maintain this form and turn it into a real-deal, long-lasting rally like the good old days.

And for my money, I think there are four good reasons that it might.

For starters, governments aren’t fighting bitcoin any more. Even the ones that don’t like crypto are now creating rules to adjust to it – a regulatory backdrop that incentivizes more institutions to buy in.

There’s more in today’s Insight: why this rally could go from strength to strength, and the one thing that could bring it to a screeching halt.

Read or listen to the Insight here

Tesla isn’t all that

There’s no denying the $5 trillion EV market is going places.

But wait a second before you run straight for Tesla’s stock, because there might be eight EV stocks that are a better bet than the EV maker.

See, there are dozens of industries – from battery firms to chipmakers – powering the market, and plenty of companies within them whose stocks could benefit.

And one man can tell you where to find them: Louis Navellier is known as one of America’s top money managers, with a knack for spotting winners like Apple and Oracle.

You can find out which EV stocks he’s backing: read Louis’s latest report for free today.

Read The Report

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