Stock is on quite a run over the past six months (1-year chart below). I saw a recent report about some hedge funds who had been shorting TSLA pretty aggressively and lost that bet big time. My brother in law has a Tesla and I took it for a spin not long ago. The thing is absolutely silent and drives like a dream.
I wish! I’ve been watching some news on this and TSLA’s run keeps grabbing headlines. I don’t understand the stock market very well so I’m not sure what is behind it.
That 17.52% short interest as of a few weeks ago is just insane...I am curious JUST how much of this recent spike is a short squeeze, after which the bottom falls back out and it retreats into the $500'ish range.
Daytraders who bought yesterday are taking a bath today...although it has recovered somewhat and is back around $740 right now. It was down as low as roughly $700 earlier in the day, after closing yesterday just shy of $900.
I read somewhere yesterday that the run was likely not a short squeeze but probably FOMO (fear of missing out). I don’t know if that’s true but thought it was interesting. Long term though I think Tesla may have some legs. They have aspirations for an autonomous taxi network, and no other company comes close on the amount of road data that Tesla has collected for AI. Musk spoke about that in a recent interview.
It took a dive today, and the bubble may burst further before it bounces back. Long term it's a good looking company.
"Tesla CEO Elon Musk said he will take his company out of California amid an ongoing dispute about reopening plant operations in Alameda County. The billionaire said Tesla will immediately move its headquarters, located in Palo Alto, and future programs to Texas and Nevada. " Tesla CEO Explains Why His Company Is Leaving California Sacramento Bee says , Who Cares? A Dem state Rep says F Elon
Apparently it worked per yesterday’s Tesla blog post. Employing 30,000 Californians provides some political leverage. Tesla Blog: Getting Back to Work Tesla is the last major carmaker remaining in California, and the largest manufacturing employer in the State with more than 10,000 employees at our Fremont factory and 20,000 statewide. We understand the impacts COVID-19 has caused and have a responsibility to look out for the livelihoods and safety of our personnel, many of whom rely on us and have been out of work for weeks due to the impacts of shelter-in-place orders. Given the Governor’s recent guidance, which is supported by science and credible health data, the state and federal government’s classification of vehicle manufacturing as national critical infrastructure, and our robust safety plan, Tesla has started the process of resuming operations. Our employees are excited to get back to work, and we’re doing so with their health and safety in mind. What We’re Doing Our restart plan is the result of months of careful planning and preparation. It was modeled after the comprehensive return to work plan we established at our Shanghai Gigafactory, which has seen smooth and healthy operations for the last three months. We are taking the time we need to get our personnel properly trained before they begin work and all employees must complete an online video training before returning to work at any Tesla facility. We have a thorough return-to-work plan for all locations. A cross-functional response team, including an in-house physician, has been working daily to establish health and safety guidelines based on location- and job-specific risk assessments, and we are continuously reviewing our processes to ensure they work for our employees in this new environment. Back in March, we conducted risk assessments at each site, looking at how and where people work, how they interact, and what measures are needed to meet safety standards. In some cases, we have added partitions or barriers to separate work areas and minimized employee interactions by positioning parts closer to where that task is completed on the line. We are also requiring additional personal protective equipment, along with rigorous cleaning and disinfecting protocols. Our Return to Work playbook details the comprehensive safety measures we have introduced to ensure employee safety. Why We’re Restarting Tesla is not an outlier, nor are we going against the grain. From the State’s very first shelter-in-place order, national critical infrastructure, including vehicle manufacturing like Tesla’s Fremont factory, was considered vital and given permission to continue operating. The Governor repeated this direction this week when he made clear manufacturing should resume. In addition, at least three neighboring counties in the same situation have already restarted their economies including manufacturing, including Solano, Napa, and San Joaquin Counties. Meanwhile, Alameda county, where our factory resides, and Santa Clara County next door, have stated in their return to work order FAQs that the manufacturing of distributed energy resources (which is defined in state law to include electric vehicles, solar and battery storage) is permitted to resume. How We’ve Worked with the County Contrary to the Governor’s recent guidance and support from the City of Fremont, Alameda County is insisting we should not resume operations. This is not for lack of trying or transparency since we have met with and collaborated on our restart plans with the Alameda County Health Care Services Agency. Unfortunately, the County Public Health Officer who is making these decisions has not returned our calls or emails. The list below is just some of the information we’ve shared with city and county officials: Detailed health and safety restart plan with checklist and photos Employee health and safety guidelines Risk assessment process, including what we’ve done throughout the factory Risk assessment improvements, including how we’ve identified and addressed high/medium/low risks Temperature screening protocol plus a commitment to add temperature screening when we resume long-distance shuttle routes Revised Fremont production restart plan Factory layout with square footage to illustrate on how people are spread out across our 6 million square foot facility Break room capacities (reduced for social distancing) and numbers of people in each room based on work area We will continue to put people back to work in a safe and responsible manner. However, the County’s position left us no choice but to take legal action to ensure that Tesla and its employees can get back to work. We filed a lawsuit on May 9 asking the court to invalidate the County Orders, to the extent the County claims they prevent Tesla from resuming operations.
I hope he still decides to move some of his biz out. To Texas would be great but just to move some out seems like a smart move
We'll give you three and the first two don't count...although if you somehow got it wrong on the third guess, we can helicopter you another guess or six...
There is no "OU equivalent" I was just amazed that a California democrat could make a coherent statement when her counterpart in Harris County can't read on a third grade level. (Watch one of daily, if not semi daily, press conferences.)
Tesla answers Female Dem's FU with one of his own /www.cnbc.com/2020/05/11/newsom-says-he-didnt-know-tesla-reopened-factory.html California Gov. Gavin Newsom was surprised on Monday when a reporter informed him that Tesla has already reopened its Fremont factory to resume production. “As it was just mentioned, I need the details of that. My understanding is when I walked up to the podium today that wasn’t the case. I’m trying to monitor hundreds of thousands of businesses all throughout the state of California,” the governor said at a Monday news conference. As CNBC previously reported, production employees were booked for shifts this week starting Sunday at Tesla. On Monday, local TV broadcasters showed employees’ cars streaming into the company’s parking lots.
