×
S&P 500   3,831.39
DOW   30,967.82
QQQ   286.96
S&P 500   3,831.39
DOW   30,967.82
QQQ   286.96
S&P 500   3,831.39
DOW   30,967.82
QQQ   286.96
S&P 500   3,831.39
DOW   30,967.82
QQQ   286.96

Musk vows fast fix for new "money furnace" Tesla factories

Thursday, June 23, 2022 | The Associated Press


Cars on the manufacturing floor at the "Cyber Rodeo" grand opening celebration for the new $1.1 billion Tesla Giga Texas manufacturing facility in Austin, Texas, on Thursday April 7, 2022. Musk described the electric automaker's factories in Austin and Berlin as “money furnaces” that were losing billions of dollars because supply chain breakdowns were limiting the number of cars they can produce. In an interview on May 30, 2022, that was just released this week. (Jay Janner /Austin American-Statesman via AP, File)

Tesla CEO Elon Musk described the electric automaker's factories in Austin and Berlin as “money furnaces” that were losing billions of dollars because supply chain breakdowns were limiting the number of cars they can produce.

In a May 30 interview with a Tesla owners club that was just released this week, Musk said that getting the Berlin and Austin plants functional “are overwhelmingly our concerns. Everything else is a very small thing," Musk said, but added that “it's all gonna get fixed real fast.”

It's not clear how much has changed in the three weeks since the interview, but last week Musk tweeted congratulations to his Berlin team for producing 1,000 cars in a week.

In the interview, Musk said the tooling for its 2170 battery cells were stuck at port in China.

Supply chain breakdowns since the onset of COVID-19 two years ago have been especially debilitating for automakers, who get parts from all corners of the globe. A lack of computer chips needed to run cars' computers compounded automakers' problems and sent prices for used and new cars skyrocketing.

Tesla recently raised prices broadly across its fleet of cars.

As the pandemic erupted in the U.S., automakers had to shut factories for eight weeks to help stop the virus from spreading. Some parts companies canceled orders for semiconductors. At the same time, demand for laptops, tablets and gaming consoles skyrocketed as people stuck at home upgraded their devices.

By the time auto production resumed, chip makers had shifted production to consumer goods, creating a shortage of weather-resistant automotive-grade chips.

Tesla shares have lost 38% of their value in less than three months.


7 Small-Cap Stocks that Present Long-Term Growth Opportunities

Before you invest in small-cap stocks, you should be comfortable with the risk that they present. By definition, a small-cap stock is one that has a market capitalization of less than $2 billion. But this leaves them prone to volatility. And when the market goes through a sell-off or correction these stocks can suffer steep losses.

Those concerns are being amplified as the Federal Reserve is pledging to raise interest rates as part of their efforts to implement a less accommodative monetary policy. And that means if your investment timeline ends in the next few years, you may want to look elsewhere.

However, if you have a longer time horizon, quality small-cap stocks have historically provided investors with an opportunity for high growth.  In this special presentation, we're looking at seven small-cap stocks. Some have an interesting story that is playing out right now. Others have a narrative that should provide a catalyst for the stock once the economy is back on firm footing.

Here are seven small-cap stocks we believe deserve a closer look.



View the "7 Small-Cap Stocks that Present Long-Term Growth Opportunities".

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