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- 1 Tesla stock rallied 109% YTD but dropped around 14% post earnings release.
- 2 Tesla Inc. is being alleged of resealing consumers, partners, and officials’ data in coveted “Tesla Files.”
World’s leading EV manufacturer is in bad news for a 100 GB leak of confidential data disclosed by a whistleblower. However, TSLA stock rallied 109% YTD. Also, due to a negative earnings report released on April 19, 2023, the share price dropped 14.67% in five days.
The German newspaper Handelsblatt reported that sensitive customer data was leaked, and the carmaker received thousands of consumer complaints regarding the driver assistance system.
Tesla Stock – Battling AI Craze and Data Leak
Last month, Reuters reported that Tesla employees secretly shared obtrusive videos and photographs taken by cameras installed in their EVs between 2019 and 2022. Also, the whistleblower argued that the company failed to safeguard sensitive data from consumers, business partners, and employees, as reported by The Guardian.
Per Handlesblatt’s article, the leaked data file is called “Tesla Files,” it contained a plethora of client information, including tables with over 100,000 names of current and past employees, like Elon Musk. The table even had his social security number and other confidential information, such as his e-mail addresses and phone numbers.
This breach would violate the General Data Protection Regulation (GDPR), a comprehensive data protection law enacted by the European Union (EU). If the violation is proven, Tesla might face fines of approx $3.5 Billion or 4% of its annual sales. Per Tesla’s lawyer, quoted by Handelsblatt, a “disgruntled former employee” exploited his position as a service technician.
Tesla Stock – Financial Analysis
At press time, TSLA stock was trading at $193.17 with a gain of 4.72%. Previous close and open were at $184.47 & $184.62, respectively. The 52-week change is a drop of 23.57%. With an average volume of 118.18 Million shares, the market cap stays strong at $612.252 Billion. Analysts provided a 2.36 rating for HOLD, placing the price target at $204.33 with a 5.8% upside.
Concerning quarterly changes, revenue increased by 24.38% to $23.33 Billion, while ttm revenue stands at $86.03 Billion. The revenue per share is $27.35, and the quarterly revenue growth is 24.40%. Operating expenses were corrected by 0.54% to $1.85 Billion, the operating margin gained by 14.82%, and the profit margin jumped by 13.66%.
Tesla’s gross profit ttm is $20.85 Billion, and basic earnings per share (EPS) is reported to be $3.74. The Price to earnings ratio is 34.20, meaning the stock is mildly overvalued, and EBITDA is $16.67 Billion. Total cash in hand is $22.4 Billion, while the company has a debt of $5.57 Billion.
Tesla Inc. (TSLA Stock) – Candle Exploration
The current TSLA stock price is looking to break the EMA of $197.85. If it confidently manages to do so, the price could rally to the supply zone. However, only after the breakout from that zone, the price shall rally. If not, it would consolidate between zones until deciding factors occur.
The price could drop to the demand zone, and if it breaks through it, the price action will attain a southbound momentum. It could also go to last year’s low. However, considering the allegations of a data breach, the price should consolidate between a narrow range until the issue is resolved.
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
