Tesla Considers Partnering with Toyota On an SUV and Starbucks Becomes A Potential Buy
Reports from China reveal that Tesla and Toyota, two massive car brands, are considering working together on a new small SUV. The potential collaboration would see Toyota providing the platform of the Vehicle and Tesla supplying the electronic and software technologies for the car. The prospective partnership, although not confirmed, could have some historical backing. This is because Toyota was an early investor in Tesla and, last year during Tesla Battery Day, Elon Musk hinted at a new car priced under $25K.
With having such a strong run in the past few months, many investors are shying away from Tesla, this comes in addition to the NASDAQs falling. Today was better with Tesla gaining $24.60 or +4.02%. When looking at Toyota some experts say that its current price of $154.9 per share and the market cap of over $200 billion shows signs of being modestly overvalued.
Starbucks Corporation is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington and is the biggest Coffee chain in the United States. When the pandemic began Starbucks, shares fell nearly 50% off their 52-week high, significantly more than the S&P’s 34% fall. Since then, Starbuck’s recovery has been as robust as a cup of black coffee.
Currently the stock may be in a potential buy zone, as according to MarketSmith chart analysis Starbucks is trying to break out above a 108.85 buy point in a new flat base. Despite these potential weak fundamentals could also push away value investors.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.