“We are encouraged by the recovery in late Q2 2020 with 75,000 accessioned tests (~79,000 in Q1 2020), driven by noninvasive prenatal testing (NIPT) and carrier screening,” the analyst noted. Tesla's lead in electric vehicle technologies has other automakers making desperate moves to catch up. “There’s a clear path to success but a ton of work to do.” Musk said the gasoline-powered internal-combustion engine will one day be obsolete.Musk described an “incredible series of innovations with varying levels of difficulty,” said Venkat Viswanathan, a battery expert at Carnegie Mellon University. It has also rankled China over its participation in the American investigation of Huawei Technologies Co.Concerns are mounting that the bank’s expansion in China will be derailed after the ruling Communist Party’s Global Times newspaper reported over the weekend that HSBC could be named an “unreliable entity.” Penalties for companies that appear on the list include restrictions on trade, investments and visas. The content is intended to be used for informational purposes only. But a breakout in weak volume is typically a bad sign; it indicates that institutional investors probably aren't participating. A $4.3 billion battery-making company backed by Bill Gates could rival Tesla. Global sales are projected to drop about 17% this year to 75 million from 90 million last year, according to research firm LMC Automotive. He backtracked 10 days later, and the cheapest Model 3 available now is $37,990.Making a truly mass-market electric car and boosting Tesla’s current annual production to 20 million cars will require vastly more batteries than are currently being produced from a handful of suppliers around the world. In addition to the pilot line for battery-cell production in Fremont, and Musk said the company also will make cells at the factory that is under construction in Berlin.Battery Cell ‘Leap’Most global automakers have shied away from making their own battery cells, citing the high investment costs and their lack of expertise in an industry dominated mostly by Asian electronics manufactures such as Panasonic Corp. and LG Chem Ltd.Musk said in a tweet Monday that Tesla will need to start producing its own battery cells to support its various products, even as it ramps up purchases from outside suppliers. Both Citigroup and smaller rival Standard Chartered Plc trade at multiples of about 13.Ping An, which has owned a major stake in HSBC since late 2017, has seen the value of those shares tumble by at least $8.6 billion over the past three years, according to data compiled by Bloomberg.The depth of HSBC’s slump “means even long-term investors are starting to lose confidence in the stock, which is certainly a bad sign,” said Benny Lee, a director at Plotio Financial Group Ltd.HSBC declined to comment on its share performance.The growing disillusion in Hong Kong with the bank’s prospects comes after it earlier this year was among banks forced by U.K. regulators to scrap its dividend, causing an uproar with the city’s broad base of retail investors. Why DryShips (DRYS) is Up Over 2500 Percent. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P. The content is intended to be used for informational purposes only. A rally to $2300+ is possible from that bottom into late December – depending on the November elections (or lack thereof). Matthew DiLallo has no position in any of the stocks mentioned. But a breakout in weak volume is typically a bad sign; it indicates that institutional investors probably aren't participating. The broader industry question in the wake of privatization plans of DryShips and Teekay Offshore (NYSE: TOO) is whether slumping stock prices will prompt more public players to throw in the towel.
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