Investor's Corner
Tesla dips amid Elon Musk’s 12-month vehicle forecast, TSLA coverage observations
Tesla stock (NASDAQ:TSLA) is dropping after the opening bell on Monday, on the heels of Elon Musk’s new guidance for the company’s performance in the following 12 months, as well as a fresh round of criticisms from its dedicated skeptics.
Musk’s estimate came as part of a discussion about the impact of Tesla in the auto industry. In his tweet, Musk stated that there are 2.5 billion cars and trucks on the planet; thus, even replacing 1% of that number will require a production rate of 25 million vehicles per year. “Tesla will make over 500k cars in next 12 months, but that’s a mere 2% of 25M or 0.02% of global vehicle fleet. Car industry slow -> demand >> supply,” Musk wrote.
Apart from Musk’s comments about Tesla’s production in the coming year, the CEO also discussed his disappointment at the coverage the electric car maker has been receiving from mainstream media. Musk mentioned a number of publications in his tweets, including Bloomberg and The Wall Street Journal. True to form, the Wall Street Journal promptly published a negative piece about Tesla on Monday, criticizing, of all things, how the company “can’t stop dreaming big.”
Tesla has been facing a notable amount of criticism after it released its Q1 vehicle delivery and production report, which revealed that the company showed a roughly 30% decline in electric car deliveries and a 12% decline in production compared to Q4 2018. Tesla’s vehicle deliveries actually grew 110% in the first quarter of 2019 compared to Q1 2018, but these figures mostly got lost in the pileup of negative coverage that the company received after releasing its first-quarter results.
Among the most prominent voices that immediately went on the offensive against Tesla was short-seller and Greenlight Capital CEO David Einhorn, who promptly wrote a letter to investors claiming that “the wheels are falling off” at Tesla, which is allegedly “on the brink” due to slowed demand, “desperate” price cutting, cutting CapEx, layoffs, and the departure of senior executives. Einhorn further blasted the company for allegedly using its customers as “guinea pigs,” while predicting that “without initial surge demand elsewhere, TSLA will struggle to even maintain first quarter unit volumes.”
In response to the Greenlight Capital CEO’s allegations, Fox Business Network’s Charlie Gasparino noted that Tesla’s senior executives remain confident in the company as well as its financial state. Gasparino described the sentiments of Tesla’s senior executives as follows.
“Bankers are now, when you see sort of controversy like this, people questioning the numbers of Tesla, whether it’s selling enough cars, and particularly their cash position, that’s the signal for bankers to go and pitch financing deals to Tesla, and they are doing it actively as we speak. But what the company is saying is much different than what Einhorn is saying. This is what the company is telling bankers: they don’t believe there’s a need for financing in the near-term. What they describe as near-term, three months, maybe six months. They don’t think that their cash position is eroding as fast as the street and Mr. Einhorn and other people think it’s eroding. They believe in the near-term, that their finances are fine,” Gasparino said.
Tesla’s senior executives reportedly maintain support for Elon Musk as well. “Now, we should also point out that Tesla executives and these are senior executives, the conversation always turns to crazy Elon. They describe him as ‘crazy,’ ‘a handful,’ but here’s the best one: ‘a weird dude.’ But they also say, despite his quirks, they describe him as a genius. They also believe in the company, despite all the competition that’s coming at them from others in the electric car space who are gonna get the sort of government handouts that Tesla got early on. They think they have the best electric car in the world. They are well-poised, they got the right guy leading it, (and it’s) a guy who will work 24/7 to make it work,” Gasparino added.
As of writing, Tesla is trading at -3.08% at $259.46 per share.
Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.
Elon Musk
SpaceX just filed for the IPO everyone was waiting for
SpaceX filed its public S-1, revealing $18.7 billion in revenue and billions in losses.
SpaceX publicly filed its S-1 registration statement with the Securities and Exchange Commission on May 20, 2026, making its financial details available to the public for the first time ahead of what could be the largest IPO in history.
An S-1 is the formal document a company must submit to the SEC before going public. It includes audited financials, risk factors, business descriptions, and how the company plans to use the money it raises. Companies are required to file one before selling shares to the public, and it must be published at least 15 days before the investor roadshow begins. SpaceX had already submitted a confidential draft to the SEC in April, which allowed regulators to review the filing privately before it went public.
The S-1 reveals that SpaceX generated $18.7 billion in consolidated revenue in 2025, driven largely by its Starlink satellite internet division, which posted $11.4 billion in revenue, growing nearly 50% year over year. Despite that growth, the company lost about $4.9 billion in 2025 and has burned through more than $37 billion since its founding.
SpaceX just forced Verizon, AT&T and T-Mobile to team up for the first time in history
A significant portion of those losses trace back to xAI, Elon Musk’s artificial intelligence company, which was recently merged into SpaceX. SpaceX directed roughly 60% of its capital spending in 2025 to its AI division, totaling around $20 billion, yet that division lost billions and grew revenue by only about 22%.
SpaceX plans to list its Class A common stock on Nasdaq under the ticker SPCX, with Goldman Sachs, Morgan Stanley, and Bank of America leading the offering. The dual-class share structure means going public will not meaningfully reduce Musk’s control, as Class B shares he holds carry 10 votes per share compared to one vote for public Class A shares.
The company is targeting a raise of around $75 billion at a valuation of roughly $1.75 trillion, which would make it the largest IPO ever. The investor roadshow is reportedly planned for June 5.
Elon Musk
Tesla ditches India after years of broken promises
Tesla has ditched its plans to build a factory in India after years of failed negotiations.
Tesla’s long-running effort to establish a manufacturing presence in India is officially over. India’s Minister of Heavy Industries H.D. Kumaraswamy confirmed on May 19, 2026 that Tesla has informed authorities it will not proceed with a manufacturing facility in the country.
Tesla first signaled serious interest in India around 2021, when it began hiring local staff and lobbying the Indian government for lower import tariffs. The ask was straightforward: reduce duties enough for Tesla to test the market with imported vehicles before committing capital to a local factory. India’s position was equally firm, with an ask of Tesla to commit to manufacturing first, then receive tariff relief. Neither side moved, and the talks quietly collapsed.
Tesla to open first India experience center in Mumbai on July 15
India had offered a policy that would reduce import duties from 110% down to 15% on EVs priced above $35,000, provided companies committed at least $500 million toward local manufacturing investment within three years. Tesla declined to participate. The tariff standoff was only part of the problem. Analysts pointed to significant gaps in India’s local supply chain, inadequate industrial infrastructure, and a mismatch between Tesla’s premium pricing and the purchasing power of India’s automotive market as additional factors that made the investment difficult to justify.
First signs of an unraveling relationship came in April 2024, when Musk abruptly cancelled a planned trip to India where he was set to meet Prime Minister Modi and announce Tesla’s market entry. By July 2024, Fortune reported that Tesla executives had stopped contacting Indian government officials entirely. The government at that point understood Tesla had capital constraints and no plans to invest.
The more fundamental issue is that Tesla’s existing factories are currently operating at approximately 60% capacity, making a commitment to building new manufacturing capacity in a new market difficult to defend to investors. Tesla will continue selling imported Model Y vehicles through its existing showrooms in Mumbai, Delhi, Gurugram, and Bengaluru, but local production is no longer part of the plan.
Elon Musk
SpaceX just forced Verizon, AT&T and T-Mobile to team up for the first time in history
AT&T, T-Mobile, and Verizon just joined forces for one reason: Starlink is winning.
America’s three largest wireless carriers, AT&T, T-Mobile, and Verizon, announced on On May 14, 2026 that they had agreed in principle to form a joint venture aimed at pooling their spectrum resources to expand satellite-based direct-to-device (D2D) connectivity across the United States in what can be seen as a direct response to SpaceX’s Starlink initiative. D2D, in plain terms, is technology that lets a standard smartphone connect directly to a satellite in orbit, the same way it connects to a cell tower, with no extra hardware required.
The alliance is widely seen as a means to slow Starlink’s rapid expansion in the satellite internet and mobile markets. SpaceX’s Starlink Mobile service launched commercially in July 2025 through a partnership with T-Mobile, starting with messaging before expanding to broadband data. SpaceX secured access to valuable wireless spectrum through its $17 billion deal with EchoStar, paving the way for significantly faster satellite-to-phone speeds.
SpaceX was not shy about its reaction. SpaceX president and COO Gwynne Shotwell responded on X: “Weeeelllll, I guess Starlink Mobile is doing something right! It’s David and Goliath (X3) all over again — I’m bettin’ on David.” SpaceX’s VP of Satellite Policy David Goldman went further, flagging potential antitrust concerns and asking whether the DOJ would even allow three dominant competitors to coordinate in a market where a new rival is actively entering.
Weeeelllll, I guess @Starlink Mobile is doing something right! It’s David and Goliath (X3) all over again — I’m bettin’ on David 🙂 https://t.co/5GzS752mxL
— Gwynne Shotwell (@Gwynne_Shotwell) May 14, 2026
Financial analysts at LightShed Partners were blunt, saying the announcement showed the three carriers are “nervous,” and pointed to the timing: “You announce an agreement in principle when the point is the announcement, not the deal. The timing, weeks ahead of the SpaceX roadshow, was the point.”
As Teslarati reported, SpaceX’s next generation Starlink V2 satellites will deliver up to 100 times the data density of the current system, with custom silicon and phased array antennas enabling around 20 times the throughput of the first generation. The carriers’ JV, which has no definitive agreement, no financial structure, and no deployment timeline yet, will need to move quickly to matter.
Elon Musk’s SpaceX is targeting a Nasdaq listing as early as June 12, aiming for what would be the largest IPO in history. With Starlink now serving over 9 million subscribers across 155 countries, holding 59 carrier partnerships globally, and now powering Air Force One, the carriers’ joint venture announcement landed at exactly the wrong time to look like anything other than a defensive move.
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