Diamonds and Dogs
Tesla (TSLA) eclipses $1000 a share. The battery car maker is up 8% after CEO Elon Musk said he wants to bring the company's big-rig commercial truck to "volume production." Wedbush analyst Daniel Ives, in a report to clients Wednesday, said demand for the Model 3 in China is ramping stronger than expected. Ives also raised his price target on Tesla stock to 1,000 a share.
Starbucks (SBUX) warns of a steep loss. Starbucks is down 4% back to a one-month low after preannouncing a big loss. Starbucks believes it lost as much as $3.2 billion in revenue due to the pandemic, with U.S. same-store sales down 43% and China down 21% in May. For the rest of the year, Starbucks will also cut their store expansion plans in half.
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