According to the latest information from Tesla’s Q1 2023 results [3], while the tesla stock did drop 9% in after-hours trading on Wednesday, it was due to investors’ concerns about the downward pressure on profits stemming from the company’s ongoing price cuts. However, the report also showed that Tesla’s revenue had jumped by 24% year over year to 1.53 billion, and services and other revenue rose 44% to a record $1.84 billion. These positive developments are due to Tesla’s continued aggressive production and mining of lithium, which has allowed the company to increase energy storage capacity deployments to a record 3.89 gigawatt hours (GWh) and a 40% increase in solar power deployments to 67 megawatts (MW).
References:
[1] Tesla Shares Drop After Earnings, Hitting Global Auto Stocks [2] Tesla Stock Dives After Earnings As ‘This Keeps … [3] Tesla Earnings Drop 21% Driven By Price Cuts: 7 Metrics …
What is happening with Spacex?
SpaceX is currently developing its Dragon capsule and Falcon 9 booster under contracts from NASA’s Commercial Crew Development program and its Commercial Orbital Transportation Services program. Recently, a robotic SpaceX Dragon cargo capsule undocked from the International Space Station and returned to Earth [1]. Additionally, SpaceX recently launched its Starship spacecraft for the first time, but it exploded seconds later [2]. The company is reportedly working to solve various issues ahead of its next launch attempt. Furthermore, SpaceX is taking orders for Starship models with rocket engine torches. However, some environmental groups have raised concerns about the harm the upcoming Starship launch could cause to birds in South Texas [1].
References:
[1] SpaceX Dragon Capsule and Falcon 9 Latest News [2] SpaceX – latest news, breaking stories and comment [3] SpaceX News, SpaceX updates & …What occurred with Starship?
SpaceX’s Starship rocket, the most powerful ever built, exploded midair during its unpiloted maiden flight. The rocket had flown successfully for over two minutes before the engines suddenly shut down, resulting in the explosion. This was the second attempt, with the first scrubbed due to a frozen valve. Despite the mishap, SpaceX founder Elon Musk praised his team and revealed they had learned a lot and hoped to conduct another test launch in a few months. [2][1]
References:
[1] SpaceX’s uncrewed Starship explodes on launch attempt [2] SpaceX Starship rocket launch ends in midair explosion … [3] SpaceX’s Starship Rocket Explodes Shortly After Launch
