Connect with us

Published

on

A top Wall Street analyst released a new report stating that he believes Tesla (TSLA) stock could soon rise to $1,000 per share on a ‘green tidal wave’ coming to the US and China.

As we reported last week, a report came out stating that Tesla’s net new orders are crashing in China due to recent bad press in the market.

Dan Ives, analyst at Wedbush Securities, issued a new note to clients about Tesla in which he stated that the electrification of China’s massive automotive market is just starting:

“Taking a step back, only 5% of auto sales in China are EV driven today and we believe this transformational consumer demand will see a doubling of EV deliveries in this key region over the next two years with Tesla a major beneficiary along with domestic pure plays NIO, Xpeng, Li Auto, and others,”

He believes Tesla will benefit from the accelerated electrification of the market in the next few years.

The analyst also notes that the impact of President Biden’s $174 billion plan to accelerate electrification in the US has yet to be realized.

At this point, we don’t even know all the details of the plan.

Ives was actually the first to report that the EV federal tax credit could go up to $10,000 in the reform of the program.

He was actually right since the latest bill proposed to reform the federal EV incentive included an increase to $10,000 for EVs made in the US and to $12,500 for EVs made in the US by union workers.

However, the bill hasn’t gone to a vote yet, and the final form of the EV tax credit reform is still unclear.

Wedbush reiterated a $1,000 per share price for Tesla’s stock.

Ives is one of the top Wall Street analyst according to Tip Ranks, an analyst ranking firm.

The Wedbush analyst ranked #79 out of 7,545 analysts on TipRanks with a 67% success rate and a 32% average return.

Electrek’s Take

I agree with Ives that we haven’t seen anything yet. Tesla’s troubles in China are going to look like child’s play when 40-50% of car buyers are going to be hungry for EVs.

Same thing in the US.

Tesla managed to get 80% of the US market last year without having access to the $7,500 tax credit while most competitors did.

Can you imagine how many it could sell if the buyers had access to a $10,000 incentive? Everything they can make, which is going to be a lot more in the US once Gigafactory Texas starts producing vehicles later this year.

While the automaker has some significant issues that it needs to address, especially when it comes to communications and customer service, any demand concerns are overblown, in my opinion.

Full disclosure: I am long TSLA.


Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.

Continue Reading

Entertainment

Rihanna attends court to support A$AP Rocky during his trial – as key witness gives evidence

Published

on

By

Rihanna attends court to support A$AP Rocky during his trial - as key witness gives evidence

Rihanna has attended court for the first time in support of her partner A$AP Rocky – as his former friend gave evidence about the moment the star allegedly fired a gun in his direction.

The superstar singer, who has two toddler sons with the rapper, sat next to his mother and sister, out of view of the Los Angeles criminal courtroom’s cameras on Wednesday.

Rocky, whose real name is Rakim Mayers, is on trial accused of firing a handgun at his former friend Terell Ephron, known as A$AP Relli.

He has pleaded not guilty to two felony counts of assault with a semiautomatic firearm.

Rihanna, left, and A$AP Rocky at the Footwear News Achievement Awards in New York in Dece,ber 2024. Pic: Evan Agostini/Invision/AP
Image:
The couple, pictured last month, have two young sons. Pic: Evan Agostini/Invision/AP

Before the trial began last week, the star’s lawyers said there was a possibility Rihanna may attend at some point to show support, as the court weighed up any potential impact of her celebrity on the case.

When jurors were selected, prosecutors asked whether Rihanna’s connection, especially if she appeared in the courtroom, would affect their decisions.

Nearly half of the initial group said they had heard of A$AP Rocky before coming to court, while nearly all said they had heard of Rihanna. All said they felt it would not have an impact.

It was not clear whether the jury could see Rihanna or were aware of her presence as they watched the testimony. She entered with the help of security before reporters arrived in court, according to US media reports, and was not seen with Rocky outside.

She also left separately through a restricted exit, according to the Associated Press news agency.

The star, known for hits including Umbrella, Diamonds and Work, was in court as Ephron, the trial’s key witness, began his evidence.

Who is the key witness and what has he testified?

Terell Ephron, aka A$AP Relli, testifies during A$AP Rocky's trial at the Clara Shortridge Foltz Criminal Justice Center in Los Angeles, on 29 January 2025. Pic: Frazer Harrison/Pool via AP
Image:
Terell Ephron, aka A$AP Relli, has given evidence. Pic: Frazer Harrison/Pool via AP

Ephron and Rocky were members of the A$AP crew of creators at a New York high school, the court has previously heard.

They were once close but their relationship broke down after Rocky became famous, Ephron said.

Rocky allegedly fired the gun at him on a street in Hollywood in 2021.

Giving evidence, Ephron said he had been shouting angrily at the rapper, who was walking away after an initial confrontation and a scuffle.

Read more from Sky News:
Harvey Weinstein begs judge for earlier retrial

Republicans criticise Super Bowl half-time shows

Rocky then pulled a gun from his waistband and held it in the air, Ephron testified.

“He turned around and then it was like BOOM!” he told the jury. “The whole thing was like a movie, he kind of like pointed down and he shot the first shot.”

He said his hand felt “hot” and added: “I was hit. Or I was grazed. I didn’t have a hole or nothing.”

Ephron said he grabbed a mutual friend after he alleged the first shot was fired and stood behind him for protection. He said he did not see Rocky fire a second shot, and that the rapper ran away moments later.

What have Rocky’s lawyers argued?

Rapper A$AP Rocky (real name Rakim Mayers) is on trial at the Clara Shortridge Foltz Criminal Justice Center in downtown Los Angeles. Pic: Genaro Molina/Los Angeles Times via AP, Pool
Image:
The rapper’s lawyers say he did not carry a real gun. Pic: Genaro Molina/Los Angeles Times via AP

Rocky’s lawyer previously told the court the gun was not real – that the rapper fired shots from a starter pistol he carried as a prop.

Ephron knew this, he said. However, when questioned about it in court, Ephron said: “Oh it was a real gun”.

The court heard he has received death threats since the incident and that his career in music management has dwindled.

“It’s been a living hell,” Ephron said.

From court to Grammys

Rocky was raised in Harlem and had his mainstream breakthrough when his first studio album topped the Billboard 200 in 2013. The second, released in 2015, did the same.

His career was set to take off even further in 2025 – starting with his third Grammy nomination at this year’s awards ceremony, which takes place on Sunday.

The rapper is also set to headline the Rolling Loud Music Festival, will star opposite Denzel Washington in a crime drama directed by Spike Lee, and is also the co-chair of the Met Gala fashion event in May.

He faces up to 24 years in prison if convicted.

The trial continues.

Continue Reading

Entertainment

Super Bowl performances by Rihanna, Jennifer Lopez and Janet Jackson criticised as ‘vulgar’ by Republicans calling for more ‘family friendly’ shows

Published

on

By

Super Bowl performances by Rihanna, Jennifer Lopez and Janet Jackson criticised as 'vulgar' by Republicans calling for more 'family friendly' shows

This year’s famous Super Bowl half-time show needs to be more “family friendly”, a group of critics has said – following what they describe as “vulgar” past performances by Jennifer Lopez and Rihanna, and the infamous Janet Jackson “wardrobe malfunction”.

Republican politicians and campaigners in Louisiana have written a letter to organisers raising “serious concerns” ahead of this year’s Super Bowl, which is due to take place at the Caesars Superdome in New Orleans in February.

Grammy-winning rapper Kendrick Lamar will headline the half-time show.

In a letter signed by 17 Republican senators and representatives for Louisiana, as well as 15 pro-family organisations, critics called out Lopez‘s performance alongside Shakira in Florida in 2020, saying the star “wore little clothing and was groped by male and female dancers on stage”, and also “made sexually suggestive gestures and performed on a stripper pole”.

Jennifer Lopez (R) performing with Shakira at the 2020 Super Bowl
Image:
Jennifer Lopez performed with Shakira in 2020. Pic: AP

Criticising Rihanna‘s performance at the 2023 half-time show in Arizona – when the star revealed she was pregnant with her second child – they said she was shown “groping herself” while singing lyrics “that were so offensive that few Louisiana adults could read those lyrics before an audience without shame”.

The letter continued: “We realize that these past vulgar performances may have been acceptable to the residents of those states where those Super Bowls were held but, in Louisiana, these lewd acts are inappropriate for viewing by children, objectify women, and are simply NOT welcomed by the majority of Louisiana parents.”

Read more: What you need to know about the Super Bowl

Recording artist Rihanna performs at halftime during the NFL Super Bowl 57 football game between the Kansas City Chiefs and the Philadelphia Eagles, Sunday, Feb. 12, 2023, in Glendale, Ariz. (AP Photo/Charlie Riedel)
Image:
Rihanna headlined in 2023 – revealing her baby bump. Pic: AP/Charlie Riedel

‘It would have violated obscenity law’

Jackson‘s performance with Justin Timberlake in Texas in 2004, during which he exposed one of her breasts, was also highlighted.

“Had that 2004 performance taken place in Louisiana and been proven to be intentional, it would have violated Louisiana’s obscenity law,” the letter said.

CBS, which aired that year’s Super Bowl, was fined $550,000 by the Federal Communications Commission over the incident – but this was later overturned.

Janet Jackson (L), Justin Timberlake (R). Pic: AP
Image:
Janet Jackson and Justin Timberlake’s performance caused outrage. Pic: AP

In 2021, following the release of the Framing Britney Spears documentary, which included details of Timberlake’s relationship with the star and their break-up, conversation around his Super Bowl performance with Jackson was also reignited.

At the time of the incident, Jackson bore the brunt of the criticism, while Timberlake’s solo career flourished. In 2021, Timberlake issued an apology, saying: “I specifically want to apologise to Britney Spears and Janet Jackson both individually, because I care for and respect these women and I know I failed.”

The Republicans’ letter did not mention Timberlake but said Jackson’s “exposed bare breast was excused by one of her fellow performers as a ‘wardrobe malfunction’.”

Super Bowl half-time performances have become “increasingly vile”, it continued, and therefore it could be “reasonably anticipated that the half-time performance this year in New Orleans will be inappropriate for children to watch”.

Sky News has contacted the celebrities for a response to the criticism.

Senator Valarie Hodges, who signed the letter and shared details on X, said: “My hope is that Louisiana can set an example for future hosting states of the Super Bowl in advocating for entertainment suitable for viewers of all ages without needing a content rating.”

It has also been shared by the Family Research Council. President Tony Perkins, a former Louisiana state representative who is also one of the signatories, said their complaint was “not only about protecting children, important as that is, but also upholding community standards”.

The letter is addressed to Phillip Sherman, chairman of the Greater New Orleans Sports Foundation, and Robert Vosbein Jr, chairman of the Louisiana Stadium and Exposition District, which oversees the superdrome venue.

In a statement sent to Sky News, Jay Cicero, president and chief executive of the Greater New Orleans Sports Foundation, said: “We respect and value the comments of our legislators, who play a critical role in our ability to secure large events providing an economic boost to our city and state.

“We have shared the letter with the NFL and we are all in agreement that this year’s half-time show will be a family-friendly event befitting New Orleans’ storied history hosting Super Bowls.”

Mr Vosbein told the Louisiana Illuminator news outlet it was “unfortunate” Ms Hodges had waited until less than a few weeks before the event to share her concerns.

Sky News has contacted both organisations for comment.

Continue Reading

Entertainment

Love Island star Jack Fincham released on bail after being jailed for dog attack

Published

on

By

Love Island star Jack Fincham released on bail after being jailed for dog attack

Love Island winner Jack Fincham has been released on bail pending an appeal – hours after being jailed for his cane corso dog attacking a man while he was running.

The 32-year-old had pleaded guilty at Southend Magistrates’ Court to two counts of being in charge of a dangerously out-of-control dog, with one of the incidents causing injury.

As well as being jailed for six weeks, he was ordered to pay £3,680 in total, including a £2,000 contribution to kennelling costs, a fine of £961 and £200 compensation.

But after being sentenced at the court on Wednesday, it emerged he had successfully lodged an appeal and had been granted conditional bail.

Fincham’s solicitor told Sky News District Judge Williams heard the bail application in open court.

Love Island star Jack Fincham has been jailed for six weeks after his black Cane Corso dog called Elvis bit a runner. Pic: @jack_charlesf 2021
Image:
Pic: @jack_charlesf 2021


After the sentence was announced, Fincham gave a thumbs up as he was led to the cells, as a woman in the public gallery cried.

The court heard his dog Elvis bit a runner in his home town of Swanley, Kent, in September 2022.

Fincham was going to be cautioned and take part in a responsible dog ownership course after the man accepted an apology, said prosecutor Erin Peck. Conditions were made including that his dog must be muzzled, she added.

However, in June last year, there was a second incident in Grays, Essex, when the dog was out of control. Fincham was later charged.

Presiding magistrate Anne Wade, sentencing, originally said Fincham was subject to a suspended sentence order at the time of the incident in Swanley. This was for 12 weeks custody, suspended for 18 months, for an unrelated driving matter.

Ms Wade said this order would be activated in part and issued the six-week prison sentence.

“The dog was in a public place not abiding by the conditions to be muzzled and kept on a lead,” she said.

Richard Cooper, representing Fincham, said the defendant had “no savings” to pay the £3,680.

Ms Wade said he could pay in instalments, initially at £400 per month.

She made an order that the dog must be muzzled in public places, be kept on a lead, and not be left alone with anyone under the age of 16.

Fincham won the show with Dani Dyer. Pic: James Gourley/ITV/Shutterstock
Image:
Fincham won Love Island with Dani Dyer in 2018. Pic: James Gourley/ITV/Shutterstock

Fincham rose to fame after winning the fourth series of Love Island with his then-girlfriend Dani Dyer in 2018. The pair were favourites throughout the series after being “coupled up” from the start.

They announced their break-up six months after leaving the show’s villa in Majorca.

Continue Reading

Trending