As Tesla (TSLA) prepares to release its first quarter earnings results, Wedbush Securities has lowered its price target on the stock, citing a demand slowdown and headwinds impacting the company's margins. Wedbush Securities Managing Director Dan Ives joins Yahoo Finance Live to explain why he believes the quarter will be "brutal." Ives anticipates Tesla's first quarter performance to be "a nightmare on Elm Street," with demand slowing both domestically and internationally. Despite the disappointing expectations, "the growth story is still there," he says. Ives highlights the ongoing price war in China's electric vehicle market and emphasizes that while Wall Street acknowledges this challenge, Tesla needs to "draw a line in the sand." He believes the company must reevaluate its China strategy to improve margins amid the rapidly evolving technology landscape in the country, stating, "It's a defining chapter in the Tesla story." According to Ives, for Tesla to regain momentum, the company needs to implement a clear communication strategy regarding margins, outline "strategic targets" for its AI initiatives, and for Elon Musk must stop threatening to leave the company: "Tesla is Musk, and Musk is Tesla." He notes that although Tesla still holds growth potential, they must provide clarity to investors, asserting, "this is a quarter that's really gonna shake some confidence." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor's note: This article was written by Angel Smith
NEW YORK (AP) — Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. U.S. District Judge Lewis A. Kaplan delivered a blistering analysis of Bankman-Fried and his crimes before announcing a sentence that was half of what prosecutors sought and less than a quarter of the 105 years recommended
Stock market indexes (^DJI, ^IXIC, ^GSPC) are mixed as they close the curtain on the first quarter of 2024. The Dow Jones Industrial Average holds above the day's flatline, the S&P 500 pulls off yet another record high, as the Nasdaq Composite closes lower. Yahoo Finance Markets Reporter Jared Blikre gives a detailed break down of the days's market action and year-to-date sector leaders. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. Editor's note: This article was written by Luke Carberry Mogan.
A federal judge has sentenced former FTX CEO Sam Bankman-Fried to 25 years for defrauding the crypto exchange's (FTT-USD) investors and customer base. Bankman-Fried has been ordered to forfeit $11 billion to compensate the victims. CoinDesk Managing Editor Nik De sits down with Yahoo Finance Live in-studio to discuss Bankman-Fried's sentencing, how much time the disgraced FTX co-founder will likely be made to serve in prison, and other details from Thursday's ruling. "From the beginning, it felt like prosecutors were making this... almost a poster child of what they can bring to bear against alleged criminal activity in crypto, at least as far as running exchanges go," De comments. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor's note: This article was written by Luke Carberry Mogan.
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