Stainless steel, broken glass and buzz, Tesla makes a pickup

[Image]( EMAIL}/redirect Posted on Friday, November 22nd, 2019 By Rachel Lerman And Cathy Bussewitz, AP Writers The much-hyped unveiling of Tesla’s electric pickup truck went off script Thursday night when supposedly unbreakable window glass shattered twice when hit with a large metal ball. The failed stunt, which ranks high on the list of embarrassing auto industry rollouts, came just after CEO Elon Musk bragged about the strength of “Tesla Armor Glass” on the wedge-shaped “Cybertruck.” On a Los Angeles-area stage with Musk, Tesla design chief Franz von Holzhausen hurled a softball-sized metal ball at the driver’s side window to demonstrate the strength of the glass, which Musk called “Transparent Metal Glass.” It shattered. “Oh my ... God,” Musk said, uttering an expletive. “Maybe that was a little too hard.” They tried it a second time on the left passenger window, which spider-cracked again. Musk recovered with a one-liner: “At least it didn’t go through. That’s a plus side.” The failure overshadowed the truck’s slick unveiling, with some analysts panning its looks. The truck, a stainless-steel covered triangle, resembles the much derided Pontiac Aztek SUV sold by General Motors in the early 2000s. Investors apparently didn’t like the stunts or the truck’s futuristic design, which is aimed at getting a foothold in the most profitable part of the U.S. auto market. Tesla shares fell almost 6% in midday trading Friday. “Tesla's Cybertruck reveal will likely disappoint current pickup truck owners, and we see the vehicle remaining a niche and not a mainstream product,” Cowen Investment Research analyst Jeffrey Osborne wrote in a note to investors. “While we are pleased to see Tesla enter the most profitable segment of the North American passenger car market, we do not see this vehicle in its current form being a success.” EMAIL}/redirect Over the years, such stunts have been common at highly rehearsed auto industry unveils. But there have been some embarrassing mishaps. At Detroit’s auto show earlier this year, an Infiniti concept electric SUV missed its introduction when it wouldn’t start and the company couldn’t move it onto the stage. Perhaps the most famous miscue came in Detroit in 2008 when Chrysler showed off the new Ram pickup truck with a cattle drive outside the convention center. But some of the cattle started mating, drawing attention away from the vehicle. “You can rehearse it 100 times, and the 101st is the time you do it before the public and it fails,” said Bud Liebler, who was head of marketing and communications at Chrysler from 1980 through 2001. He was in charge when Chrysler became famous for auto-show stunts, including driving a Jeep Grand Cherokee up the entry steps and through the front windows of Detroit’s convention center in the 1990s. Liebler said he considers the Tesla event a “fiasco,” but said Musk did the only thing he could when the glass broke. He joked about it and continued on with the show. “It’s got to be an embarrassment,” Liebler said. With the Cybertruck, Tesla was aiming for Detroit’s profit machine, the full-sized pickup. The truck came onstage with lasers and flames, and a demonstration of its stainless steel skin developed by Musk’s SpaceX rocket company went well. Von Holzhausen swung a sledge hammer at the driver’s side door, and it bounced away harmlessly without any damage. Musk said the Cybertruck will start at $39,900 but a tri-motor, long-range version will have a base price of $69,900. It will have a battery range of between 250 miles (402.3 kilometers) and more than 500 miles and will be able to tow up to 14,000 pounds. Tesla says the truck can go from zero to 60 mph (97 kph) in 2.9 seconds. The electric pickup truck will be in production in 2021, Musk said. With the truck, Tesla is gunning for buyers with fierce brand loyalty. EMAIL}/redirect Many pickup truck buyers stick with the same brand for life, choosing a truck based on what their mom or dad drove or what they decided was the toughest model, said Erik Gordon, a professor at the University of Michigan Ross School of Business. “They’re very much creatures of habit,” Gordon said. Getting a loyal Ford F-150 buyer to consider switching to another brand such as a Chevy Silverado, “it’s like asking him to leave his family,” he said. Tesla’s pickup is more likely to appeal to weekend warriors who want an electric vehicle that can handle some outdoor adventure. And it could end up cutting into Tesla’s electric vehicle sedan sales instead of winning over traditional pickup truck drivers. “The needs-based truck buyer, the haulers, the towers at the worksites of the world, that’s going to be a much tougher sell,” said Akshay Anand, executive analyst at Kelley Blue Book. The truck will help Musk enter a new market, but it’s not likely to make a bunch of money for the company. Instead, Tesla will rely on its mainstream Model 3 sedan and the upcoming Model Y small SUV due to go on sale in early 2021. Musk stands to face competition when his truck hits the market. Ford, which has long dominated the pickup truck landscape, plans to launch an all-electric F-150 pickup. General Motors CEO Mary Barra said its battery-electric pickup will come out by the fall of 2021. Rivian, a startup based near Detroit, plans to begin production in the second half of 2020 on an electric pickup that starts at $69,000 and has a battery range of 400-plus miles (643.7-kilometers). Tesla has struggled to meet delivery targets for its sedans, and some fear the new vehicle will shift the company’s attention away from the goal of more consistently meeting its targets. 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This is common knowledge however, you may see some novice traders make the mistake of placing a market order to sell and take out all buyers at the bid, effectively overselling the stock to lower prices. Buy and Sell at the Ask: Many don’t realize that when you buy at the Ask price, you are HELPING the stock price to move up! Once that offer is gone from the shares you purchased, Market Makers could move up to the next offer price as they will see there are buyers at the current price. If you decide to place an order at the bid, you are basically hoping someone will sell their shares to you at this price and you may never get filled and miss the action. It is not always a bad idea to bid sit, as you are creating “bid support”, if you believe the price may come down again and you are not willing to buy higher. Using Stop Limit Orders: Some brokers do not allow you to use stops, however, if you can – it is always a good idea to set your stop loss at the lowest price you are willing to take a loss. You may kick yourself when the stock moves back up and your stop already executed, but remember, there will always be other opportunities and its always best to cut your losses just in case. All or None Orders (Fill or Kill): An example of an all or none order is when someone places an order to buy 100,000 shares @ .01 as an “all or none limit” order. By doing this they are telling the market that they wish to be filled on their entire position at .01 or not to be filled at all. For some reason we have seen market makers ignore these sort of orders on many occasions especially when a stock is on the move. We suggest against it but you will ultimately make the decision. Do Not Chase (ONE OF THE MOST IMPORTANT): Many people want to buy a stock so badly that they end up chasing the stock as it goes up. When they finally fill their order, they may have purchased it too high as traders who bought shares earlier begin to take profit, effectively lowering the stock price and making you a bag holder. Remember, 90% of the time, a stock will always retrace/dip back to an attractive level for you to grab shares. Stock Gaps: If a stock gaps up too high in pre-market, do Not Chase It. A big gap is typically 20-50% or more pre- market or within the first 5-10 minutes of the market opening. Most stocks that gap up will come down again during the day depending on what created the catalyst. Buying is always the catalyst but every once in a while there is earth shattering news on some of these small caps that makes pullbacks unlikely in the short term. Most of the time, when a stock gaps up the market makers will attempt to push it lower starting at this time to try to get investors to panic and sell shares back to them so they can make a profit on any shares they are short from filling orders on the gap. If you like the stock and it gaps up you can usually pick up cheaper shares when and if the market settles back. Sell Into Strength Not Weakness: Once you have taken a position in a stock you need to decide the price you would like to sell your shares. Most would recommend that you put a GTC sell order at that price. Unfortunately as traders have learned to utilize level 2, its best not to do submit GTC sell orders due to the possibility that your order will be represented by a market maker and it will seem as if there is resistance at that level which may compel sellers to get out of their position at a price lower than your price. We suggest that you watch the stock closely and once it hits your price target you can submit your order to sell. It’s important to understand that it’s always best to liquidate the stock into strength and preferably in smaller increments if you have a big position. There you have it!! These are ALL my biased, amateur and unlicensed opinions, should YOU choose freely, knowingly and intelligently to Play ANY of my featured play's!! (Please READ my statement below as well, it will help you understand how I benefit from this newsletter) Also always remember that every single alert I send is very volatile and risky. Any one of them could turn into a big loser. In my personal opinion, no matter how much potential any company has, 99% of the time all that matters is HOW THE STOCK TRADES. If a stock doesn’t trade well, nothing else matters. Don’t believe the hype. 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