Connect with us

Home

Tesla’s Long-awaited Battery-day Was a Letdown That Could Tank Stock Prices

Published

on

Photo: John Thys/AFP/Getty Images

Tesla’s “Battery Day” event, which was highly anticipated, did not live up to expectations. Elon Musk announced big goals that will take time to achieve.

The highlights of the event were building a $25,000 model, cutting battery costs by 50% by 2023, and new Model S with a 520-mile range. 

The plans Musk announced were nothing short of impressive. But the event lacked the kind of surprises that make investors want to spend more money, according to an article on Bloomberg

“Given the high expectations into the event, we think the market will initially respond negatively to the relatively long timelines of the innovations and the lack of granularity,” said Patrick Hummel of UBS. 

Gene Munster, MD of Loup Ventures, had similar thoughts. He said, “The challenge with the stock is that everything they are talking about is three years away. I think traditional auto is in an even tighter spot, but Tesla investors want this tomorrow.”

Tesla is also working on battery innovations that could see vehicle costs reduce by 56%, and vehicle range increase by 54%. 

However, analysts are skeptical about those innovations being a reality within the next three years. Musk touted a $25,000 model even before delivering on the $35,000 starting price he promised three years ago. Currently, the cheapest Tesla is priced at $37990.

According to Venkat Viswanathan, an expert in batteries at the Carnegie Mellon University, Musk development of batteries to half the current costs will take more time. 

The company also said, in addition to the battery-cell facility in Fremont, they are working on another factory in Berlin. However, that is a bold leap, one that other automakers are not so eager to make due to the lack of expertise in the industry and high investment costs. 

Also read: The U.S. Coast Guard Rescues Seven People From A Capsized Boat In The Rough Waters Of Tampa Bay

“I’m really surprised that they’re taking that leap themselves. I think this is going to be a bit harder than what they think, and I don’t think we’ll see a lot of volume out of that for quite some time,” said Tony Posawatz, an automobile expert who is a board member in Lucid Motors, a rival to Tesla, and who helped GM develop the plug-in hybrid Chevrolet Volt. 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment

Rick Ross’s ‘Promised Land Just Got BIGGER’ with Another 87 Acres

Published

on

Rick Ross Getty Images/Dimitrios Kambouris

Rick Ross is the proud new owner of Evander Holyfield’s estate, in Georgia. The rapper has acquired an additional 87 acres to add to his already vast estate of 254 acres to extend what he refers to as the ”promised land”.

Google Maps

In an Instagram post today, he revealed that he bought himself 87 more acres with the caption ‘Promise Land just got BIGGER’.

Instagram

He parted with $1 million dollar to aquire the property which is not far from his multi-million dollar mansion. There are two houses in the property . it’s not clear what he intends to do with the estate but he probably has big plans.

Ross seems to be following in Kanye West’s footsteps who bought himself several thousand acres an year ago. 

His other compound is adjacent to the newly acquired one and it’s just what you’d expect from the Maybach Music Group boss. The mansion measures 45,000 sq. ft and has a whooping 109 rooms including 21 bathrooms and 12 bedrooms. 

There’s also an indoor and outdoor pool, a bowling alley, a movie theater, a baseball field, and a recording studio. The mansion belonged to Evander Holyfield before the bank repossesed it and Rick bought it at $5.8 million in 2014.

Now, Rick Ross has lots of room to expand. Who said the promised land was tiny?

Continue Reading

Home

Quavo Might Be The Next Rapper Getting A Mcdonald’s Meal

Published

on

GETTY IMAGES / SCOTT LEGATO

Migos group member Quavious Keyate Marshall, better known as Quavo, showed off his McDonald’s order, leading to fuelled speculation among fans who believe that the rapper might be the next artist to soon partner with McDonald’s.

The fast-food giant’s success is booming once again after an abrupt decline in sales during the pandemic period. That development is mainly because of the fast-food brand’s collaboration with Travis Scott, who launched his meal on the McDonald’s menu with a substantial early September campaign. The partnership led to many internet trends such as memes, jokes, and more viral content, which stimulated McDonald’s sales. 

Shortly after, McDonald’s followed up the success of Scott’s collab by working with J Balvin for a similar partnership. Giving Balving his own signature meal and a line of merchandise to augment it.

Fans predict Quavo to be next in line for a McDonald’s collaboration, judging by his latest Instagram post. The rapper just recently shared pictures of his visit to McDonalds. Quavo posted himself in the queue and also revealed what he generally orders when he goes there.

Double Cheeseburger Plain New Spicy Nuggets Medium Fries BBQ Sauce (Hot N Fresh),” the rapper wrote on Instagram. “What U Want ???

Although not yet confirmed as the next celebrity endorsement for McDonald’s, many of Quavo’s fans believe it’s just a matter of time before the collab takes place.

Continue Reading

Home

Fashion Nova Sues Rich The Kid For $2.1 Million Over Alleged Contract Breach

Published

on

Getty

Rapper Rich the Kid is facing yet another lawsuit for plausible contract breach with Fashion Nova.

For the past few years, the success of the clothing brand has been as a result of its ambassador program, which uses celebrities’ influence on social media to increase its visibility.

Among the celebrity endorsers employed by Fashion Nova include Kylie Jenner, Cardi B, and Gen Z.

Fashion Nova claims it signed an endorsement deal with the 28-year-old rapper back in October 2018 for him to exclusively promote the Fashion Nova brand on social media, give it a shout-out in at least one of his songs, and caption pictures with the brand’s hashtags.

According to legal documents obtained, Fashion Nova claims to have paid the ‘Plug Walk’ artist a $100,000 advance for the promotion.

The fast-fashion company claims Rich the Kid had agreed to do the promotions between October and December 2018 but failed to follow through with the contract. As a result, the brand says it has suffered a huge financial loss. Fashion Nova is now seeking $2.1 million in damages.

To address the issue, Rich shared a series of Instagram stories soon after the news about the lawsuit broke out. “Shit is crazy mothafuckas tryna sue a n***a left and right,” wrote Rich in one post. 

It’s time for us to promote ownership not that slave shit,” added the rapper on another Instagram story.

The Fashion Nova suit is an addition to a long list of legal disputes Rich has encountered, including him owing a $323,214 debt to a landlord and $1.1 million to his former managers. 

Outside of legal matters, Rich the Kid is currently working on a collaborative project with YoungBoy Never Broke Again. With their lead single ‘Bank Roll’ already out, the two artists are preparing to release their ‘Nobody Safe’ album scheduled to drop on November 13. 

Continue Reading

Home

6ix9ine Adds A New Tattoo to His New Look

Published

on

Tekashi 6ix9ine
Instagram

Tekashi had seemed to have dropped off the face of the earth to the extent of even disappearing from social media. It could be that he is staying away from trouble, or maybe he is simply enjoying the company of his hot girlfriend, Jade.

Maybe he is avoiding the online trolling he so frequently receives, which can be damaging to his mental health. Who knows?

Just last week, the GOOBA hit-maker rocked the media for rocking a new look. A fan-made video of him with a grown-out beard and wearing his natural hair out.

He seems to have added to his new look. What has he added? Ink! The rapper appears to be adding some new ink to his collection.

The rapper hired a tattoo artist to permanently put Takashi Murakami’s famed flower design on his shoulder.

The tattoo that is rainbow fits well with the rapper’s rainbow aesthetic that he’s well known for rocking. The new ink was shared on Mr. Rotten Apple’s Instagram page, where he posted a video showing the new piece’s progress as he filled in yellow ink. 

View this post on Instagram

🌈🌈

A post shared by Rotten Apple Art Alley (@mrrottenapple) on

Continue Reading

Home

Footage of Eminem’s First Alleged Performance Resurfaces

Published

on

eminem
Rob Latour/Shutterstock

It’s always fascinating to see footage of stars and people who’ve made it when they were once shy, young, and unknown.

Most of such footage presents the star in a raw and rugged way unseen to the world. In the world of rap, artists often start from the bottom and have to work their butts off till they get noticed and ‘make it.’ Eminem is no expectation.

Young Eminem (Photo credits: lolviral)

Some rare footage of Eminem surfaced, revealing young Eminem taking the stage as an underground MC from Detroit. The video was recorded back in 1996, three years before signing with Dr.Dre.

The video of Eminem rapping alongside D12 was posted by Random Clips in 2017. The song is called “Low Down Dirty.” There was a small crowd of people jamming to Eminem and D12’s performance.

The song featured on the 1997 Slim Shady album, which is reportedly what caught Dr. Dre’s interest leading to Dre signing Eminem. Eminem from then went on to become one of the biggest rappers in our generation and continues to receive accolades even 20 years later.

Continue Reading

Trending