Tesla China Progress Downplayed by Evercore After Stock Soars [BNN Bloomberg (Canada)]
NIO Inc. American depositary shares, each representing one Class A ordinary share (NIO)
Last nio inc. american depositary shares, each representing one class a ordinary share earnings: 3/18 07:30 am
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Source: BNN Bloomberg
The news Monday was “only a small” positive for Tesla in that regulatory approval is difficult to get in China and the timing was a surprise, Evercore analysts led by Chris McNally wrote in a report Tuesday. He estimated that Tesla will generate around 3 cents of earnings per share for every 10% uptake of the system marketed as Full Self-Driving, or FSD. “We have seen this headline sine/cosine play out on endless loop before,” McNally wrote. “But ultimately, little has changed.” Tesla fell as much as 2.9% to $188.43 before the start of regular trading. The stock is still down 22% for the year. FSD Advances Tesla shares soared the most in more than three years after Bloomberg News reported that the company had received in-principle approval to deploy its driver-assistance system in the world's biggest auto market. The US carmaker was granted the approval under certain conditions, according to a person with knowledge of the matter, who asked not to be identified because details
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