Tesla, Inc. (NASDAQ:TSLA) ended lower -3.64% and complete the day at $207.47. The total number of shares changed hands during the day was 97,214,355 shares. After opening at $222.60, the stock hit as high as $223.80. However, it traded between $198.59 and $402.67over the last twelve months. On Oct 19, Tesla has released its financial results for the third quarter of 2022. In the third quarter, we produced over 365,000 vehicles and delivered over 343,000 vehicles.
Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars. As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks. In Q3, we began transitioning to a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter. These cars have been ordered and will be delivered to customers upon arrival at their destination.
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Another News ahead: according to thestreet, Tesla’s billionaire CEO is discovering a new reality linked to his acquisition of Twitter (NYSE:TWTR) : it’s not going to be easy to reinvent the platform, considered the de facto town square of our time.
To generate income from the microblogging website, he will have to rely on a key group: the advertisers.
This is the complete opposite of his other ventures. Musk is used to making the best product possible. His philosophy is that his product will make a difference to consumers. That’s what Tesla, Inc. (NASDAQ:TSLA) has managed to do.
Tesla, Inc. (NASDAQ:TSLA) vehicles — Model S, Model X, Model Y, Model 3 — are sold without advertising. The billionaire has managed to build an image and a reputation which are the firm’s best ambassadors. Additionally, Tesla has passionate fans who praise the merits of the vehicles on social networks and on other forums.
Twitter (NYSE:TWTR), which started firing employees on November 4 to reduce costs, is a different story.
Unlike Tesla, the platform does not generate its revenue from sales of physical products. Like other social networks, Twitter relies on advertisers wishing to promote their products and services. The firm sells them advertising spots.
Ad revenue accounted for 91.4% of the $1.2 billion in revenue generated by Twitter in the second quarter ending June 30, according to a regulatory filing. The remaining revenue was through subscription fees.