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Wall Street analysts are putting pressure on Tesla

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© Reuters. Wall Street analysts weigh in on Tesla (TSLA) – one of the biggest losers in the S&P 500 in 2022

By Sinad Karametovic

Today will close the toughest year for stock trading in 14 years. While being a stock market investor has been challenging in 2022, remember that bond investors have had one of the worst years in history.

It is down nearly 20% year-to-date (YTD) after sharp interest rate increases by the Fed weighed on inflated valuations. The energy sector is the biggest outperformer in 2022, benefiting from high inflation and strong demand for commodities.

On the other hand, the tech sector has had a terrible year with the Nasdaq (NASDAQ:) down nearly 33% since the start of the year. Even in such an environment, some of the world’s largest technology companies — like Tesla (NASDAQ:), Meta Platforms (NASDAQ:) and Amazon (NASDAQ:) — managed to underperform the Nasdaq by a significant margin.

Terrible two months for Tesla

Electric car maker Tesla, in particular, is among the biggest losers in the S&P 500 this year. Tesla stock reached levels below $110 a share earlier this week, the lowest it has traded since August 2020.

In less than 5 months since August, Tesla stock has managed to lose 2/3 of its value. Valued at about $1 trillion in late August, Tesla stock is set to close in 2022 with a market cap likely to be less than $400 billion.

Since it was announced in early April that CEO Elon Musk had begun accumulating a stake in Twitter, Tesla stock has fallen more than 70%. Musk had to sell tens of billions worth of Tesla stock in less than 8 months to make sure that the $44 billion Twitter acquisition would stick.

When one adds in a very weak macro environment for high-growth stocks, the new COVID-19 outbreak in China, as well as emerging EV demand issues, it’s no surprise that a massive sell-off in Tesla shares has been seen in recent months.

Here are comments from several Wall Street research firms covering Tesla:

As Tesla investors prepare to listen to EV maker About December deliveries, here are comments from several Tesla analysts and their forecasts for 2023.

Wedbush: “We remain bullish on the long term and outperform Tesla although Musk has to start changing direction here or this situation could get even uglier.”

Piper Sandler: “TSLA has been on a downward spiral over the past few weeks with bearish traders and/or tax-losing sellers swooping in on every bit of increasingly negative news…but we don’t think Tesla’s market share is suddenly succumbing to a wave of New competition, and we don’t think anything has changed with the long-term thesis.”

Morgan Stanley: “We believe Tesla may be in a position to extend its lead against EV competition in FY ’23 (both old and emerging) even before considering the benefits of the IRA (Inflation Reduction Act) as Tesla also emerges as the biggest potential winner.”

Baird: “Giga plants in Austin and Berlin should raise margins by an increasing amount quarter-over-quarter in 2023 as production ramps up. We are encouraged by reports that production in Berlin has reached milestones of 3,000 vehicles per week and production targets of 75,000 in Q123.” …we continue to believe that TSLA is the best electric vehicle maker for the near and long term.”

Deutsche Bank: “After the quarter, we continue to expect challenging headlines around softening demand and associated rate cuts, but we believe the company remains better positioned to weather current macroeconomic conditions, leveraging price to support volume growth and the various cost levers in place to protect margins. “

As the last trading day of 2022 approaches, Tesla’s share price fell more than 2% on the Friday before it went to market.

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Red Flags That Your Spouse Is Hiding Money (And What To Do About It)

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Marriage can be hard enough without one spouse hiding money from the other.

When financial infidelity occurs in the form of “hidden cash,” a marriage or a live-forever relationship can easily be ended.

The truth is About 30% of American couples suffer from financial infidelity. Other evidence shows that more than 75% of couples describe the hidden money situation as negative and common 10% of these scenarios end in divorce.



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US judge orders Norwegian Cruise Line to pay $110m for use of Cuba port By Reuters

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© Reuters. Norwegian American Airlines cruise ship Marina arrives in Havana Bay, Cuba on March 9, 2017. REUTERS/Alexander Meneghini/File/File Photo

Written by Brian Ellsworth

MIAMI (Reuters) – Norwegian Shipping Line (NYSE) has to pay $110 million in compensation for the use of a port confiscated by the Cuban government in 1960, a US judge said Friday, marking a significant milestone for Cuban Americans. Who are seeking reparations for the Cold War era. Assets confiscation.

The decision by US District Judge Beth Bloom in Miami follows her decision in March that use of the Havana Cruise Terminal constituted smuggling of forfeited property belonging to the plaintiff, Delaware-registered Havana Docks Corp.

The decision read: “The judgment is made in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd.”

“The plaintiff was awarded $109,848,747.87 in damages,” it says, adding that the Norwegian must also pay an additional $3 million in legal fees and costs.

Norwegian Cruise Line did not immediately respond to a request for comment.

Cuban President Miguel Diaz-Canel has sharply criticized the Helms-Burton Act, calling it an extraterritorial violation of international law.

Havana Docks also sued Carnival Cruise Lines (NYSE: ), Royal Caribbean (NYSE:) and MSC under the Helms-Burton Act, which allows US citizens to sue over the use of property seized in Cuba after 1959.

The ruling could fuel more lawsuits by Cuban exiles pursuing claims, worth $2 billion, according to one estimate, over asset seizures under late Cuban leader Fidel Castro.

It may also serve as a reminder to multinational companies of the complexities that can come with doing business in Cuba.

In 2016, US cruise ships began traveling to Cuba for the first time in decades after a détente negotiated by former President Barack Obama eased some provisions of a Cold War US embargo.

But the Trump administration in 2019 ordered a halt to all such cruises amid efforts to pressure Cuba over its support for Venezuelan President Nicolas Maduro, Washington’s ideological foe.

The Trump administration has also allowed US citizens to sue third parties for using property seized by Cuban authorities, a provision of the Helms-Burton Act that every previous president has waived since the law was passed in 1996.

Havana Docs says Cuba, which has been under a US trade embargo for decades, has never compensated it for taking the drug.

The four cruise lines sued in 2019 in the US District Court for the Southern District of Florida. Bloom in March held the companies liable for damages under the Helms-Burton Act, also known as the Libertad Act.

According to the US-Cuban Economic and Trade Council, a nonprofit organization that provides information on relations between the two countries, 5,913 validated claims related to property seized in Cuba represent an estimated liability of nearly $2 billion.

Forty-four lawsuits have been filed under Title III of the Helms-Burton Act, the organization says.

“For the current plaintiffs of Cuban descent, (the decision) will give them a moment of relief,” said John Cavulich, the group’s president. “It will give them a moment to say ‘You can run but you can’t hide,'” Cavulich said.

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Is a Royal Caribbean or Carnival beverage package worth it?

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An all-inclusive beverage package that gives you access to beer, wine, liquor, bottled water, soda, specialty coffee, and even shakes/juices may cost more than your cruise fare.

This is especially true right now when many cruise cabins are being sold at discounted prices while the drinks package prices have gone up.

Deciding whether to purchase a drink package is a challenge because you have to estimate whether you will be drinking enough to cover the cost. Or, more importantly, whether you’d spend more if you decided not to purchase a drink package.



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