Two stocks that are currently the talk of Wall Street post earnings are Netflix Inc (NASDAQ: NFLX) and Tesla Inc (NASDAQ: TSLA). However, the key difference is the market’s reaction. NFLX stock surged more than 13% after the streaming company posted better-than-expected third-quarter earnings Tuesday and added 2.41 million net global subscribers. The entertainment giant also said it will crack down on password sharing next year, and will begin a new ad-supported subscription plan starting Nov. 3 in the U.S.
On the other hand, Tesla Inc (NASDAQ: TSLA) reported $1.05 in adjusted EPS, ahead of expectations of 99 cents, on revenues of $21.45 billion, lighter than the $21.96 billion expected. Net income (GAAP) reached $3.33 billion, more than double from a year ago, while automotive revenue rose 55% from the previous year’s quarter. However, Elon Musk’s warned about a bottleneck in transportation capacity for delivering new cars in the final weeks of the quarter, and said it was “transitioning to a smoother delivery pace.”
Talking about TSLA and EV’s, there is one stock that we would like to draw your attention to and that is Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA). HLRTF is a clean technology company developing transformative power conversion technologies and control system solutions for next-generation electric vehicles and electrical systems.
Breaking News: Hillcrest Energy Technologies Partners with Global Tier 1 Automotive Supplier
Hillcrest Energy Technologies just announced that it has signed a memorandum of understanding (MOU) with a global Tier 1 automotive leader in mobility innovation. As per the press release:
- Hillcrest and Tier 1 automotive supplier sign memorandum of understanding to carry out joint development project for powertrain system
- Project to begin immediately and run through 2023
- Hillcrest inverter technology to underpin future product (1)
Although the company did not reveal the name of the Tier1 company, this news could very well trigger renewed interest from Wall Street rewarding early traders and investors potentially causing the share prices to surge.
Click HERE to read this BREAKING NEWS
HLRTF had also recently accounted the release of a new technical white paper outlining the advantages of Hillcrest inverter technology and how its soft-switching capabilities relate to capacitors within the power conversion system.
Key points to focus on include:
- New white paper demonstrates value of Hillcrest soft-switching technology on improving power density through the reduction of capacitor and overall inverter size
- Hillcrest EV commercial prototype inverter is designed with one-fifth to one-tenth of the capacitance of current systems
- Potential to disrupt power inverter designs across the automotive space
“Capacitance for a typical EV traction inverter today is between 600 micro farads and 1 millifarad, while the commercial prototype design of the Hillcrest traction inverter contemplates one-fifth to one-tenth of the capacitance,” says Ari Berger, Hillcrest CTO. “Such a significant reduction in capacitor and inverter size and increase in power density, coupled with improved power quality and system reliability, has the potential to disrupt power inverter designs across the automotive space.” The company continues validating its technology. This is the first in a series of anticipated reports demonstrating the value of Hillcrest’s high-efficiency inverter technology from various technical and sub-system aspects.
As aways follow traders vigilance and conduct your own due diligence.
Other companies in Tesla’s space includes: Nio (NYSE:NIO), XPeng (NYSE:XPEV), Phoenix Motor (NASDAQ:PEV), Fisker (NYSE:FSR), General Motors (NYSE:GM) and Ford Motor (NYSE:F).
Source 1: https://www.benzinga.com/pressreleases/22/10/g29339119/hillcrest-energy-technologies-partners-with-global-tier-1-automotive-supplier
Source 2: https://finance.yahoo.com/news/hillcrest-energy-technologies-signs-memorandum-120000732.html
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