Another week has gone by and Wall Street still doesn’t have a definitive answer on Elon Musk’s Twitter (NYSE:TWTR) acquisition. The Tesla (NASDAQ:TSLA) CEO has threatened to pull out of the deal, accusing Twitter of not providing him with sufficient information on the platform’s bot count. The potential acquisition hangs over TSLA stock like looming storm clouds but this week also brought some better news for investors. Musk revealed some key details of the Tesla Master Plan Part 3.
While TSLA stock has been volatile this week, the company has seen more good news than bad. Tesla received a key analyst upgrade and multiple other experts expressed bullish sentiments regarding its potential for long-term growth. Additionally, Cathie Wood has been loading up on TSLA as shares have fallen this week, adding it to three of her major funds. The bearish energy that has surrounded Tesla for weeks may finally be easing.
Let’s take a look at this week’s top headlines that Tesla investors should be reading.
Top Headlines for TSLA Stock Investors
Fake accounts and bots could sink TWTR deal
Musk has been highly focused on Twitter’s bot count lately. Some have speculated that he is using it as way to back out of the deal. While the platform has claimed that only 5% of its users are bot accounted, as opposed to monetizable active users, Musk isn’t convinced. He thinks the number is higher, likely at least 20%. Musk threatened to pull out of the deal earlier this week but no one will know for sure until Twitter releases further information on the bot count.
Elon Musk reveals what Tesla’s Master Plan Part 3 is about
Anyone who follows Tesla knows that the first two stages of its “Master Plan” have been instrumental to the company’s growth. Now, almost 16 years after Musk released the first stage of the Master Plan in 2006, he has revealed some details of its third stage. At a company meeting, he responded to a question about the Tesla Master Plan Part 3. According to Musk, it is about achieving large scale growth in its key operations areas. He also noted the following question: “How do you get to enough scale to actually shift the entire energy infrastructure of earth?”
Analysts are bullish on TSLA stock
UBS (NYSE:UBS) issued a bullish take on TSLA stock this week. The investment bank reiterated its stance on Tesla from a neutral to a “buy” rating. Analyst Patrick Hummel cited Tesla’s “competitive edge” and sees significant growth potential in Tesla’s “vertical integration in semiconductors, software and battery.” And as Forbes reports, Hummel isn’t the only expert to regard TSLA stock with optimism. Garrett Nelson of CFRA Research recently praised Tesla’s growth potential, rating it as a “strong buy.”
Cathie Wood has been buying the dip in Tesla following TSLA stock’s 40% pullback
Hummel and Nelson aren’t the only market experts who see growth ahead for Tesla. Famed investor Cathie Wood has been loading up on TSLA stock after offloading shares a few months ago. Wood recently purchased 50,000 shares between Ark Innovation ETF (NYSEARCA:ARKK), Ark Autonomous Technology and Robotics ETF (BATS:ARKQ) and Ark Next Generation Internet ETF (NYSEARCA:ARKW). While TSLA stock only accounts for 8.3% of Wood’s flagship fund, it is still one of her top holdings.
Tesla sold 32,165 China-made vehicles in May
Tesla’s critics have often expressed concerns regarding the company’s output from its Shanghai gigafactory. Government shutdowns kept the company from operating there in April 2022 but according to reports, Tesla is working hard to get back on track. Reuters reports that for May, though, Tesla sold 32,165 EVs built in Shanghai, 22,340 will be exported. That’s a significant increase over the 1,152 that it sold in April, all of which were domestic. Production hasn’t reached pre-lockdown levels yet but it has certainly made strides towards it.
Tesla workers ask Elon Musk what to do with Twitter drama — the CEO says ‘ignore’
Musk’s quest to acquire Twitter has also been affecting Tesla. While the two companies operate in different sectors, the drama from the Twitter saga has clearly effected Musk’s first company. At a recent meeting, a Tesla employee asked the CEO what they should do about Twitter and the political drama that has ensued since Musk first submitted his offer. Electrek reports that Musk pondered it before responding “Well, you know. Ignore Twitter. Ignore. Ignore.”
On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.