Tesla Gains Market Share in France and Norway
Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell.From the hotly-debated high-flier Tesla, Wall Street's newest darling Rivian, traditional-stalwarts turned EV-upstarts GMand Fordto the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with "Charged," a weekly recap of the top stories and expert calls in the sector.Clickto check out Tesla's recent Media Buzz Sentiment as measured by TipRanks.MARKET SHARE:In February, Tesla gained market share in France and Norway, signaling stabilization in Europe after two years of declining sales, Reuters. The automaker's registrations rose 55% in France and 32% in Norway but fell 18% in Denmark.MOVING TO THE SIDELINES:HSBC downgraded First Solarto Hold from Buy with a price target of $211, down from $280, after the company reported Q4 results below consensus and gave lower-than-expected FY26 guidance that suggests "cooling demand and operational challenges." In the short-term, upside to valuation looks limited as the firm thinks supportive U.S. policies have "largely played out," while the firm sees a long-term competition overhang from Tesla, the firm tells investors.Freedom Capital also downgraded First Solar to Hold from Buy with a price target of $250, down from $310. The company's Q4 results missed estimates, and it issued "weak" 2026 guidance, the firm tells investors in a research note. Freedom says uncertainty remains elevated in the utility-Additionally, Deutsche Bank downgraded First Solar to Hold from Buy with a price target of $245, down from $300, following "disappointing" Q4 results and a "weak" 2026 outlook. The firm notes challenging conditions in the market, tariffs impacting the movement of volumes from India to the U.S. and overall portfolio changes with the onshoring of the finishing line.SOFT GUIDANCE:Deutsche Bank downgraded Array Technologiesto Hold from Buy with a price target of $9, down from $11, following the company's Q4 report. The 2026 outlook, while including a topline in-line with the Street forecast at $1.45B, featured softer-than-expected adjusted EBITDA and a soft margin profile, the firm tells investors.RESULTS:Lucidreported Q4 losses per share of ($3.62) vs consensus of ($2.67), and said it sees 2026 production 25,000-27,000 vehicles.Following quarterly results, Cantor Fitzgerald analyst Andres Sheppard lowered the firm's price target on Lucid Group to $14 from $21, while keeping a Neutral rating on the shares. The firm cited lower production, guidance, persistent high negative gross margin, additional capital needs, a worsening macro environment, and tariff uncertainty. Cantor expects Gravity to lead sales in its FY26 delivery estimate of 23,185 vehicles delivered, with Airs to remain relatively flat year over year.DELIVERIES:Nioannounced its February 2026 delivery results. The company delivered 20,797 vehicles in February 2026, representing an increase of 57.6% year-over-year. The deliveries consisted of 15,159 vehicles from the company's premium smart electric vehicle brand Nio, 2,981 vehicles from the company's family-oriented smart electric vehicle brand ONVO, and 2,657 vehicles from the company's small smart high-end electric car brand FIREFLY. Cumulative deliveries reached 1,045,571 as of February 28, 2026.Li Autoannounced that it delivered 26,421 vehicles in February 2026. As of February 28, 2026, Li Auto's cumulative deliveries reached 1,594,304. Li Auto officially rolled out OTA update version 8.3 ahead of the Chinese Spring Festival, featuring upgrades in three areas: VLA Driver large model, smart cockpit and smart electric functionality. As of February 28, 2026, the Company had 539 retail stores in 160 cities, 548 servicing centers and Li Auto-authorized servicing shops operating in 223 cities. The Company also had 4,054 super charging stations in operation equipped with 22,447 charging stalls in China.XPeng (XEPV) announced its vehicle delivery results for February 2026. Xpeng a total of 15,256 vehicles in February. Also in February, Xpeng began global deliveries of the new Xpeng P7+, with the initial shipment bound for 18 countries.
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SpaceX Plans IPO with Valuation Over $1.75 Trillion
- Rapid User Growth: As of February 2026, Starlink's subscriber count exceeded 10 million, a significant increase from 4.6 million at the end of 2024, indicating robust demand for satellite internet services, with expectations for continued rapid growth solidifying its market position.
- Diversified Business Model: In addition to Starlink, SpaceX offers commercial rocket launch services, maintaining a leadership position despite competitors like Rocket Lab, as it can internally manage launch services, reducing costs and enhancing Starlink's profitability.
- Potential Merger Opportunities: Analysts suggest an increasing likelihood of a merger between SpaceX and Tesla, which would consolidate Musk's financially powerful businesses under one corporate structure, enhancing overall market competitiveness, particularly in emerging sectors like robotaxi services and humanoid robots.
- IPO Plans: Musk is reportedly planning to launch Starlink's initial public offering in June, aiming to raise funds through stock sales that could value the company at over $1.75 trillion, providing substantial financial support for future expansion and technological innovation.
Tesla Executives Depart, Raising Concerns
- Executive Departures: Tesla's Vice President of Finance, Sendil Palani, announced his departure after over a decade, expressing gratitude to the team and CEO Elon Musk, which may indicate potential impacts on company morale amidst executive turnover.
- Technical Team Shift: Engineer Thomas Dmytryk also announced his exit; his team was responsible for Tesla's over-the-air (OTA) connectivity feature, which allows vehicle updates without service center visits, and his departure could affect the efficiency and quality of future software updates.
- Market Sentiment: Despite the executive departures, retail sentiment on Stocktwits for TSLA stock remains in the 'bullish' territory, indicating that investor confidence in the company's future remains intact, reflecting recognition of Tesla's long-term growth potential.
- Analyst Rating Upgrade: Bank of America upgraded Tesla's rating from 'Neutral' to 'Buy' with a price target of $460, viewing Tesla as the current leader in consumer autonomy and expecting it to quickly become a leader in robotaxi services, further bolstering investor confidence.
Rivian's R2 Launch: Market Disruption Potential
- R2 Launch Outlook: Rivian's upcoming R2 model is priced around $50,000, aiming to attract mainstream consumers, although it faces competition from established automotive brands; this pricing strategy could help it penetrate the market.
- High Market Pressure: Rivian is under immense pressure for the R2 launch, as failure to attract buyers could not only result in missed revenue targets but also stall the brand's momentum, potentially jeopardizing its future.
- Profitability Progress: Rivian achieved a significant milestone with $144 million in gross profit in 2025, indicating initial progress towards profitability, despite a substantial net loss of $3.6 billion, highlighting the bleak short-term outlook.
- Cost Control Success: In Q4 2025, Rivian improved its automotive cost of goods sold by over $7,200 per vehicle compared to the previous year, driven by cost-cutting and operational enhancements, laying a foundation for future profitability.
Analysis of Rivian R2 Launch Prospects
- Cost Control Success: Rivian reduced automotive cost of goods sold by $7,200 per vehicle in Q4 2025, which not only enhances gross margins but also lays a solid foundation for the successful launch of the R2, demonstrating the company's ongoing improvements in cost management.
- Competitive Market Pressure: Priced around $50,000, Rivian's R2 has the potential to attract mainstream consumers; however, it faces fierce competition from established brands like Tesla, necessitating effective brand loyalty strategies to secure market share.
- Profitability Milestone: Rivian achieved a gross profit of $144 million in 2025, marking a significant step towards profitability, despite a net loss of $3.6 billion, indicating that the path to sustainable profits remains challenging in the near term.
- Investor Focus: The market performance of the R2 will directly impact Rivian's future; if it fails to meet consumer expectations, it could severely damage the brand, making it crucial for investors to closely monitor the R2's market feedback and sales performance.
Tesla Faces Demand Weakness Challenges
- Weakening Demand: Tesla is experiencing declining demand across several global markets in 2025, which poses a challenge to its lofty valuation, highlighting a gap between market expectations and actual sales performance.
- Overinflated Valuation: Market experts argue that Tesla's stock price, currently at $388.85, is inflated due to Elon Musk's loyal fan base, with shares down over 20% from their 52-week high, indicating excessive optimism among investors regarding future growth.
- Revised Delivery Expectations: Analysts have revised their delivery estimates for Tesla to only 2.8 million vehicles by 2030, significantly lower than the previous target of 20 million, reflecting a diminishing confidence in the company's growth trajectory.
- Increased Competition: With rising competition in the autonomous driving sector and a forward price-to-earnings ratio exceeding 200x, analysts express caution regarding Tesla's future performance, advising investors to remain wary of Musk's overly optimistic statements.
Analysis of Wealthy Spending Habits and Ferrari's Stock Performance
- Wealthy Spending Stability: While economic downturns impact the middle class, high-net-worth individuals maintain stable spending habits; Ferrari, as a luxury brand, should theoretically benefit from U.S. economic growth, yet its stock has fallen 21% over the past year, indicating market concerns about its future performance.
- Stock Buyback Signal: Since the beginning of the year, Ferrari has repurchased over $117 million in shares, suggesting management may view the current stock price as undervalued, and this action could enhance earnings per share, boosting investor confidence.
- Unique Market Positioning: With average prices ranging from $250,000 to over $700,000, Ferrari's high-end positioning allows it to maintain demand even during economic fluctuations, but it also limits sales to around 1,000 units annually, preserving brand exclusivity.
- Strong Financial Health: Ferrari boasts one of the strongest balance sheets in the industry, with stable cash flow and a 35% dividend payout ratio indicating that the company is not overly strained by its dividend payments; ongoing stock buybacks and dividend policies provide confidence for long-term investors.
SpaceX Plans IPO with Valuation Over $1.75 Trillion
- Rapid User Growth: As of February 2026, Starlink's subscriber count exceeded 10 million, a significant increase from 4.6 million at the end of 2024, indicating robust demand for satellite internet services, with expectations for continued rapid growth solidifying its market position.
- Diversified Business Model: In addition to Starlink, SpaceX offers commercial rocket launch services, maintaining a leadership position despite competitors like Rocket Lab, as it can internally manage launch services, reducing costs and enhancing Starlink's profitability.
- Potential Merger Opportunities: Analysts suggest an increasing likelihood of a merger between SpaceX and Tesla, which would consolidate Musk's financially powerful businesses under one corporate structure, enhancing overall market competitiveness, particularly in emerging sectors like robotaxi services and humanoid robots.
- IPO Plans: Musk is reportedly planning to launch Starlink's initial public offering in June, aiming to raise funds through stock sales that could value the company at over $1.75 trillion, providing substantial financial support for future expansion and technological innovation.
Tesla Executives Depart, Raising Concerns
- Executive Departures: Tesla's Vice President of Finance, Sendil Palani, announced his departure after over a decade, expressing gratitude to the team and CEO Elon Musk, which may indicate potential impacts on company morale amidst executive turnover.
- Technical Team Shift: Engineer Thomas Dmytryk also announced his exit; his team was responsible for Tesla's over-the-air (OTA) connectivity feature, which allows vehicle updates without service center visits, and his departure could affect the efficiency and quality of future software updates.
- Market Sentiment: Despite the executive departures, retail sentiment on Stocktwits for TSLA stock remains in the 'bullish' territory, indicating that investor confidence in the company's future remains intact, reflecting recognition of Tesla's long-term growth potential.
- Analyst Rating Upgrade: Bank of America upgraded Tesla's rating from 'Neutral' to 'Buy' with a price target of $460, viewing Tesla as the current leader in consumer autonomy and expecting it to quickly become a leader in robotaxi services, further bolstering investor confidence.
Rivian's R2 Launch: Market Disruption Potential
- R2 Launch Outlook: Rivian's upcoming R2 model is priced around $50,000, aiming to attract mainstream consumers, although it faces competition from established automotive brands; this pricing strategy could help it penetrate the market.
- High Market Pressure: Rivian is under immense pressure for the R2 launch, as failure to attract buyers could not only result in missed revenue targets but also stall the brand's momentum, potentially jeopardizing its future.
- Profitability Progress: Rivian achieved a significant milestone with $144 million in gross profit in 2025, indicating initial progress towards profitability, despite a substantial net loss of $3.6 billion, highlighting the bleak short-term outlook.
- Cost Control Success: In Q4 2025, Rivian improved its automotive cost of goods sold by over $7,200 per vehicle compared to the previous year, driven by cost-cutting and operational enhancements, laying a foundation for future profitability.
Analysis of Rivian R2 Launch Prospects
- Cost Control Success: Rivian reduced automotive cost of goods sold by $7,200 per vehicle in Q4 2025, which not only enhances gross margins but also lays a solid foundation for the successful launch of the R2, demonstrating the company's ongoing improvements in cost management.
- Competitive Market Pressure: Priced around $50,000, Rivian's R2 has the potential to attract mainstream consumers; however, it faces fierce competition from established brands like Tesla, necessitating effective brand loyalty strategies to secure market share.
- Profitability Milestone: Rivian achieved a gross profit of $144 million in 2025, marking a significant step towards profitability, despite a net loss of $3.6 billion, indicating that the path to sustainable profits remains challenging in the near term.
- Investor Focus: The market performance of the R2 will directly impact Rivian's future; if it fails to meet consumer expectations, it could severely damage the brand, making it crucial for investors to closely monitor the R2's market feedback and sales performance.
Tesla Faces Demand Weakness Challenges
- Weakening Demand: Tesla is experiencing declining demand across several global markets in 2025, which poses a challenge to its lofty valuation, highlighting a gap between market expectations and actual sales performance.
- Overinflated Valuation: Market experts argue that Tesla's stock price, currently at $388.85, is inflated due to Elon Musk's loyal fan base, with shares down over 20% from their 52-week high, indicating excessive optimism among investors regarding future growth.
- Revised Delivery Expectations: Analysts have revised their delivery estimates for Tesla to only 2.8 million vehicles by 2030, significantly lower than the previous target of 20 million, reflecting a diminishing confidence in the company's growth trajectory.
- Increased Competition: With rising competition in the autonomous driving sector and a forward price-to-earnings ratio exceeding 200x, analysts express caution regarding Tesla's future performance, advising investors to remain wary of Musk's overly optimistic statements.
Analysis of Wealthy Spending Habits and Ferrari's Stock Performance
- Wealthy Spending Stability: While economic downturns impact the middle class, high-net-worth individuals maintain stable spending habits; Ferrari, as a luxury brand, should theoretically benefit from U.S. economic growth, yet its stock has fallen 21% over the past year, indicating market concerns about its future performance.
- Stock Buyback Signal: Since the beginning of the year, Ferrari has repurchased over $117 million in shares, suggesting management may view the current stock price as undervalued, and this action could enhance earnings per share, boosting investor confidence.
- Unique Market Positioning: With average prices ranging from $250,000 to over $700,000, Ferrari's high-end positioning allows it to maintain demand even during economic fluctuations, but it also limits sales to around 1,000 units annually, preserving brand exclusivity.
- Strong Financial Health: Ferrari boasts one of the strongest balance sheets in the industry, with stable cash flow and a 35% dividend payout ratio indicating that the company is not overly strained by its dividend payments; ongoing stock buybacks and dividend policies provide confidence for long-term investors.
