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reuben
2021-03-08
Goodluck
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reuben
2021-03-08
Wait to collect cheap ticket
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But in the wake of the coronavirus disease 2019 (COVID-19) pandemic, the broad-based index went on to lose 34% of its value over the following 33 calendar days. For some context here, previous bear market losses in the S&P 500 of at least 30% took an average of 11 months to occur. COVID-19 caused a 34% decline in merely a month.</p>\n<p>Now, it's looking like the <b>Nasdaq Composite</b> (NASDAQINDEX:^IXIC) may share a similar fate <a href=\"https://laohu8.com/S/AONE\">one</a> year later.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bfa6ff2b91c8f20bca964751a738928f\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Is a Nasdaq Composite bear market brewing?</h2>\n<p>The Nasdaq Composite, which leans heavily on high-growth technology and biotech stocks, has widely outperformed the S&P 500 and the iconic <b>Dow Jones Industrial Average</b> since the bear market bottom on March 23, 2020. The Feb. 12, 2021 closing high of 14,095.47 represented a peak gain of almost 106% in less than 11 months.</p>\n<p>The market cap-weighted index with a strong leaning on growth stocks has benefited from the rise of the work-from-home economy, as well as historically low lending rates. With the Federal Reserve pledging to keep rates at or near historic lows through 2023, fast-growing tech stocks should have easy access to cheap capital.</p>\n<p>But even these immense catalysts may not be able to stop a Nasdaq bear market (i.e., a 20% or greater decline) from brewing. In just three weeks, the Nasdaq has shed 8.3% of its value, and was down a peak of 12% during its intraday low on March 5.</p>\n<p>On a macro basis, rising Treasury bond yields have investors spooked. Even though it's perfectly normal to see yields rise during the early stages of an economic recovery as investors sell bonds and buy stocks, folks are worried that rapidly rising yields could cause an exodus in the other direction. In other words, Treasury bonds are viewed as highly safe, income-producing assets. If yields were to handily outpace the inflation rate, some investors might choose bonds over stocks.</p>\n<p>The coronavirus pandemic also remains a front-and-center concern. Even with three COVID-19 vaccine options, the worry is that not enough people will choose to be vaccinated, which could delay herd immunity.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9be53e57590b1343cdbc68172a0bac01\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<p>And then there's valuation, which might be the biggest concern of them all. According to enterprise data company Siblis Research, the <b>Nasdaq 100</b> -- an index of the largest 100 non-financial companies on the Nasdaq Composite -- entered 2021 with a trailing price-to-earnings ratio of nearly 40 and a cyclically adjusted price-to-earnings (CAPE) ratio of 55! That's up from a CAPE ratio of 35 at the end of 2018. At some point, valuation always comes back into focus.</p>\n<p>If a bear market or steep correction is brewing, it would not be a surprise if the growth stocks that led the Nasdaq Composite higher also led the charge lower.</p>\n<h2>Short-term pain can lead to long-term gain</h2>\n<p>Then again, if emotional selling does arise, count yourself lucky, because you'll be able to scoop up great companies at bargain prices.</p>\n<p>For example, continued selling in cybersecurity solutions provider <b>Okta</b> (NASDAQ:OKTA) would provide an excellent opportunity for investors to buy into the leading provider of cloud-based identity verification. Okta's solutions are cloud-native and lean on artificial intelligence to grow smarter over time. Being built in the cloud allows Okta to be nimbler at identifying and responding to potential threats.</p>\n<p>What's more, Okta agreed to acquire privately held Auth0 this past week in an all-stock deal worth $6.5 billion (at the time of the announcement). Auth0 is also a cloud-native platform that'll be operated as an independent unit under the Okta umbrella. More importantly, it should generate north of $200 million in sales this year and provide increased exposure outside the United States. A decline in Okta is an absolute gift for long-term investors.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5dabb0b68fe32e12c1462accee7e973b\" tg-width=\"700\" tg-height=\"474\"><span>Image source: Getty Images.</span></p>\n<p>A Nasdaq Composite bear market would also allow investors who missed the initial rocket launch of teleconferencing platform <b>Zoon Video Communications</b> (NASDAQ:ZM) a second chance to jump onboard. Last week, <a href=\"https://laohu8.com/S/ZM\">Zoom</a> reported full-year sales of $2.65 billion (up 326% from 2019), which is up from a midpoint of $910 million in sales that was expected when 2020 began. As you can plainly see, Zoom was a key beneficiary of the COVID-19 pandemic.</p>\n<p>The thing is, Zoom should remain in play well after the pandemic has passed. As of April 2020, Zoom controlled 42.8% of all web conferencing technology in the U.S., which was more than double its next-closest competitor. Though some workers will soon be heading back into the office, the luxuries of working from home aren't going away. Zoom is the type of business that could triple its sales by mid-decade.</p>\n<p>Things are definitely dicey at the moment for high-growth tech stocks, and they could get worse for the Nasdaq's most prominent highfliers. But if your investing horizon stretches out many years, you have little to worry about.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Who's Ready for a Nasdaq Bear Market?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWho's Ready for a Nasdaq Bear Market?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-08 21:52 GMT+8 <a href=https://www.fool.com/investing/2021/03/08/whos-ready-for-a-nasdaq-bear-market/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It's amazing how quickly sentiment can shift on Wall Street.\nOne year ago, on Feb. 19, 2020, the benchmark S&P 500 (SNPINDEX:^GSPC) hit what was then an all-time high. But in the wake of the ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/08/whos-ready-for-a-nasdaq-bear-market/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.fool.com/investing/2021/03/08/whos-ready-for-a-nasdaq-bear-market/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2117667494","content_text":"It's amazing how quickly sentiment can shift on Wall Street.\nOne year ago, on Feb. 19, 2020, the benchmark S&P 500 (SNPINDEX:^GSPC) hit what was then an all-time high. But in the wake of the coronavirus disease 2019 (COVID-19) pandemic, the broad-based index went on to lose 34% of its value over the following 33 calendar days. For some context here, previous bear market losses in the S&P 500 of at least 30% took an average of 11 months to occur. COVID-19 caused a 34% decline in merely a month.\nNow, it's looking like the Nasdaq Composite (NASDAQINDEX:^IXIC) may share a similar fate one year later.\nImage source: Getty Images.\nIs a Nasdaq Composite bear market brewing?\nThe Nasdaq Composite, which leans heavily on high-growth technology and biotech stocks, has widely outperformed the S&P 500 and the iconic Dow Jones Industrial Average since the bear market bottom on March 23, 2020. The Feb. 12, 2021 closing high of 14,095.47 represented a peak gain of almost 106% in less than 11 months.\nThe market cap-weighted index with a strong leaning on growth stocks has benefited from the rise of the work-from-home economy, as well as historically low lending rates. With the Federal Reserve pledging to keep rates at or near historic lows through 2023, fast-growing tech stocks should have easy access to cheap capital.\nBut even these immense catalysts may not be able to stop a Nasdaq bear market (i.e., a 20% or greater decline) from brewing. In just three weeks, the Nasdaq has shed 8.3% of its value, and was down a peak of 12% during its intraday low on March 5.\nOn a macro basis, rising Treasury bond yields have investors spooked. Even though it's perfectly normal to see yields rise during the early stages of an economic recovery as investors sell bonds and buy stocks, folks are worried that rapidly rising yields could cause an exodus in the other direction. In other words, Treasury bonds are viewed as highly safe, income-producing assets. If yields were to handily outpace the inflation rate, some investors might choose bonds over stocks.\nThe coronavirus pandemic also remains a front-and-center concern. Even with three COVID-19 vaccine options, the worry is that not enough people will choose to be vaccinated, which could delay herd immunity.\nImage source: Getty Images.\nAnd then there's valuation, which might be the biggest concern of them all. According to enterprise data company Siblis Research, the Nasdaq 100 -- an index of the largest 100 non-financial companies on the Nasdaq Composite -- entered 2021 with a trailing price-to-earnings ratio of nearly 40 and a cyclically adjusted price-to-earnings (CAPE) ratio of 55! That's up from a CAPE ratio of 35 at the end of 2018. At some point, valuation always comes back into focus.\nIf a bear market or steep correction is brewing, it would not be a surprise if the growth stocks that led the Nasdaq Composite higher also led the charge lower.\nShort-term pain can lead to long-term gain\nThen again, if emotional selling does arise, count yourself lucky, because you'll be able to scoop up great companies at bargain prices.\nFor example, continued selling in cybersecurity solutions provider Okta (NASDAQ:OKTA) would provide an excellent opportunity for investors to buy into the leading provider of cloud-based identity verification. Okta's solutions are cloud-native and lean on artificial intelligence to grow smarter over time. Being built in the cloud allows Okta to be nimbler at identifying and responding to potential threats.\nWhat's more, Okta agreed to acquire privately held Auth0 this past week in an all-stock deal worth $6.5 billion (at the time of the announcement). Auth0 is also a cloud-native platform that'll be operated as an independent unit under the Okta umbrella. More importantly, it should generate north of $200 million in sales this year and provide increased exposure outside the United States. A decline in Okta is an absolute gift for long-term investors.\nImage source: Getty Images.\nA Nasdaq Composite bear market would also allow investors who missed the initial rocket launch of teleconferencing platform Zoon Video Communications (NASDAQ:ZM) a second chance to jump onboard. Last week, Zoom reported full-year sales of $2.65 billion (up 326% from 2019), which is up from a midpoint of $910 million in sales that was expected when 2020 began. As you can plainly see, Zoom was a key beneficiary of the COVID-19 pandemic.\nThe thing is, Zoom should remain in play well after the pandemic has passed. As of April 2020, Zoom controlled 42.8% of all web conferencing technology in the U.S., which was more than double its next-closest competitor. Though some workers will soon be heading back into the office, the luxuries of working from home aren't going away. Zoom is the type of business that could triple its sales by mid-decade.\nThings are definitely dicey at the moment for high-growth tech stocks, and they could get worse for the Nasdaq's most prominent highfliers. But if your investing horizon stretches out many years, you have little to worry about.","news_type":1},"isVote":1,"tweetType":1,"viewCount":120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":329342163,"gmtCreate":1615212442652,"gmtModify":1704779617713,"author":{"id":"3576309535642604","authorId":"3576309535642604","authorIdStr":"3576309535642604","name":"reuben","avatar":"https://static.tigerbbs.com/f8dfd76903a59815478c19982e0b9018","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576309535642604"},"themes":[],"htmlText":"Goodluck","listText":"Goodluck","text":"Goodluck","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/329342163","repostId":"2117660356","repostType":4,"repost":{"id":"2117660356","pubTimestamp":1615209033,"share":"https://ttm.financial/m/news/2117660356?lang=&edition=fundamental","pubTime":"2021-03-08 21:10","market":"us","language":"en","title":"Tesla Is Plugging a Secret Mega-Battery Into the Texas Grid","url":"https://stock-news.laohu8.com/highlight/detail?id=2117660356","media":"Bloomberg","summary":"The utility-scale battery located outside of Houston will connect to the same grid that faltered in ","content":"<p>The utility-scale battery located outside of Houston will connect to the same grid that faltered in February’s freeze</p>\n<p>Elon Musk is getting into the Texas power market, with previously unrevealed construction of a gigantic battery connected to an ailing electric grid that nearly collapsed last month. The move marks Tesla Inc.’s first major foray into the epicenter of the U.S. energy economy.</p>\n<p>A Tesla subsidiary registered as Gambit Energy Storage LLC is quietly building a more than 100 megawatt energy storage project in Angleton, Texas, a town roughly 40 miles south of Houston. A battery that size could power about 20,000 homes on a hot summer day. Workers at the site kept equipment under cover and discouraged onlookers, but a Tesla logo could be seen on a worker’s hard hat and public documents helped confirm the company’s role.</p>\n<p>Property records on file with Brazoria County show Gambit shares the same address as a Tesla facility near the company’s auto plant in Fremont, California. A filing with the U.S. Securities and Exchange Commission lists Gambitas a Tesla subsidiary. Executives from Tesla did not respond to multiple requests for comment.</p>\n<p>As winter storms pummeled Texas in February and left millions without power for days, Musk took to Twitter to mock the Electric Reliability Council of Texas, or Ercot, the nonprofit group that manages the flow of electric power to more than 26 million customers. “Not earning that R,”he wrote. Musk, 49, recently moved to Texas and his various companies are expanding operations in the state.</p>\n<p>The battery-storage system being built by Tesla’s Gambit subsidiary is registered with Ercot. Warren Lasher, senior director of system planning at Ercot, said the project has a proposed commercial operation date of June 1. The site is adjacent to a Texas-New Mexico Power substation.</p>\n<p>While Tesla is known for its sleek, battery-powered electric vehicles, it’s always been more than a car company: its official mission is to “accelerate the world’s transition to sustainable energy.” Utility-scale batteries are needed to store the electricity produced by wind and solar, but they can also become lucrative opportunities. By storing excess electricity when prices and demand are low, battery owners can sell it back to the grid when prices are high.</p>\n<p>Tesla has spent years expanding into residential energy technology. Back in March 2015, Musk unveileda home battery product, dubbed the Powerwall, with a splashy event at its design studio near Los Angeles. Scores of utility and energy executives attended. A year later Tesla acquiredSolarCity, the solar-panel installer founded by Musk and his cousins. Musk then hawked a “solar roof” that has gone through several iterations without becoming a strong contender in the market.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Is Plugging a Secret Mega-Battery Into the Texas Grid</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Is Plugging a Secret Mega-Battery Into the Texas Grid\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-08 21:10 GMT+8 <a href=http://bloomberg.com/news/features/2021-03-08/tesla-is-plugging-a-secret-mega-battery-into-the-texas-grid><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The utility-scale battery located outside of Houston will connect to the same grid that faltered in February’s freeze\nElon Musk is getting into the Texas power market, with previously unrevealed ...</p>\n\n<a href=\"http://bloomberg.com/news/features/2021-03-08/tesla-is-plugging-a-secret-mega-battery-into-the-texas-grid\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/V81TzUz1IFOt0V.tmrZGiA--~B/aD0xMzI4O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/uu/api/res/1.2/m51GhLDFpzM5pfy5brwqRA--~B/aD0xMzI4O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/df3cbd793ba987bfab45ba205092fa73","relate_stocks":{"TSLA":"特斯拉"},"source_url":"http://bloomberg.com/news/features/2021-03-08/tesla-is-plugging-a-secret-mega-battery-into-the-texas-grid","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2117660356","content_text":"The utility-scale battery located outside of Houston will connect to the same grid that faltered in February’s freeze\nElon Musk is getting into the Texas power market, with previously unrevealed construction of a gigantic battery connected to an ailing electric grid that nearly collapsed last month. The move marks Tesla Inc.’s first major foray into the epicenter of the U.S. energy economy.\nA Tesla subsidiary registered as Gambit Energy Storage LLC is quietly building a more than 100 megawatt energy storage project in Angleton, Texas, a town roughly 40 miles south of Houston. A battery that size could power about 20,000 homes on a hot summer day. Workers at the site kept equipment under cover and discouraged onlookers, but a Tesla logo could be seen on a worker’s hard hat and public documents helped confirm the company’s role.\nProperty records on file with Brazoria County show Gambit shares the same address as a Tesla facility near the company’s auto plant in Fremont, California. A filing with the U.S. Securities and Exchange Commission lists Gambitas a Tesla subsidiary. Executives from Tesla did not respond to multiple requests for comment.\nAs winter storms pummeled Texas in February and left millions without power for days, Musk took to Twitter to mock the Electric Reliability Council of Texas, or Ercot, the nonprofit group that manages the flow of electric power to more than 26 million customers. “Not earning that R,”he wrote. Musk, 49, recently moved to Texas and his various companies are expanding operations in the state.\nThe battery-storage system being built by Tesla’s Gambit subsidiary is registered with Ercot. Warren Lasher, senior director of system planning at Ercot, said the project has a proposed commercial operation date of June 1. The site is adjacent to a Texas-New Mexico Power substation.\nWhile Tesla is known for its sleek, battery-powered electric vehicles, it’s always been more than a car company: its official mission is to “accelerate the world’s transition to sustainable energy.” Utility-scale batteries are needed to store the electricity produced by wind and solar, but they can also become lucrative opportunities. By storing excess electricity when prices and demand are low, battery owners can sell it back to the grid when prices are high.\nTesla has spent years expanding into residential energy technology. Back in March 2015, Musk unveileda home battery product, dubbed the Powerwall, with a splashy event at its design studio near Los Angeles. Scores of utility and energy executives attended. A year later Tesla acquiredSolarCity, the solar-panel installer founded by Musk and his cousins. Musk then hawked a “solar roof” that has gone through several iterations without becoming a strong contender in the market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
