Tesla stock jumps 8% as lawsuits and fundamentals can’t hold Elon Musk’s crown jewel down

Tesla stock kept powering beyond $420 to rise 8% today. The stock market is a sea of green after data this morning showed US inflation decelerated in December, but shares of the electric-vehicle maker are particularly verdant.

Some headlines to consider:

Barclays said the stock this year will be even more “disconnected from fundamentals.”
Tesla’s annual sales decline was even worse in the US, where its volume was down more than any other electric-vehicle automaker.
CEO Elon Musk is getting sued by the Securities and Exchange Commission — again.
Deutsche Bank thinks that Tesla won’t meet its sales targets, but that the stock will go up anyway.
In a bull case, Morgan Stanley thinks the stock’s price could double.

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Ford to bring eyes-off driving to its new EV platform by 2028

Ford is wading into the autonomous race against rivals like Tesla and GM.

On Wednesday evening, the Detroit automaker said it plans to introduce “Level 3” eyes-off systems to vehicles being built on its new production platform in Louisville by 2028. The first vehicle planned for the platform is a $30,000 midsize EV truck, planned for 2027.

In an interview with Reuters, Ford Chief EV and Design Officer Doug Field said the tech would not come at the $30,000 price point and would cost extra. Field said the company is still weighing just how much extra, and whether the system should be sold via a subscription model.

According to Ford, the eyes-off and hands-off tech will utilize lidar. Ford shares ticked up slightly in premarket trading on Thursday.

In August, Reuters reported that Ford rival Stellantis had shelved its Level 3 program due to high costs.

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The toy giant is betting that even if people don’t immediately want a computerized plastic block, they’ll still want “Star Wars” Legos that go “pew pew.”

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Warner Bros. board spurns Paramount’s latest advance, continuing to support Netflix deal

Paramount has now made six formal offers for Warner Bros. Discovery.

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