Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Tesla Inc (NASDAQ:TSLA) revealed Thursday yet another project in its ever-expanding portfolio.
Behind the scenes, even as it worked out Model 3 production kinks, directed resources to Puerto Rican solar projects and delayed its Semi reveal, Tesla had secretly revived the Roadster, its first electric vehicle.
What You Need To Know: With a top speed above 250 miles per hour, the Roadster base model goes zero-to-60 in 1.9 seconds and zero-to-100 in 4.2 seconds. One charge of its 200 kilowatt-per-hour battery sustains a 630-mile trek.
“The point of doing this is just to give a hardcore smackdown to gasoline cars,” CEO Elon Musk said. “Driving a gasoline sports car is going to feel like a steam engine with a side of quiche.”
The four-seater includes three motors, torque steering and all-wheel drive. Musk plans to begin production in 2019 for 2020 sales at $200,000 per unit, except for the first 1,000 limited editions priced at $250,000.
What Analysts Think: The new Roadster could capture 25 percent of the exotic car market and bring in nearly $1 billion per year, according to Loup Ventures managing partner Gene Munster. But that’s not necessarily the point.
“Musk’s comment that the point of building the Roadster was to ‘give a hardcore smackdown to gasoline cars’ highlights the fact that Roadster is more about making a statement to the industry around the performance of EVs [...] and less about making money,” Munster wrote in a Friday note.
Others on the Street interpreted the unveiling with marked concern.
“We can't help worrying that Tesla may be taking on too much organizationally – which could distract it from ensuring Model 3's commercial success, which we believe is the critical driver of the company's fortunes,” Bernstein analyst Toni Sacconaghi Jr. wrote in a Friday note.
Munster anticipates potential delays leading to a 2021 rollout.
The Stock’s Reaction: Tesla’s stock had been on the rise all week as Musk teased the new Semi. At time of publication, shares were up 3 percent at $321.71.
Related Links:
Merrill Lynch: Tesla Semi Announcement Could Be A Reason To Buy Allison Transmission
Why Tesla's China Situation May Be More Favorable Than Previously Imagined
Image credit: Tesla Twitter
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!