Billion Dollar Funding Rejected by Tesla, Giga Shanghai Expansion, Part/Price Updates, Rivian (11.26.21)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 26 November 2021
⏱️ 11 minutes
🧾️ Download transcript
Summary
➤ Stock market drops on new concerns
➤ Catching up on Elon Musk’s ongoing TSLA stock sale
➤ Tesla declines over $1B in funding for battery factory in Germany
➤ Tesla reportedly expanding Giga Shanghai
➤ First made-in-China Model Y Performance vehicles are delivered
➤ New part updates
➤ Price increases in China and Canada
➤ Rivian reportedly delays R1S
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Executive producer Jeremy Cooke
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Executive producer Jeffrey Yu
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Executive producer Richard Del Maestro
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Music by Evan Schaeffer
Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody, Rob Maurer here. Welcome back to Tesla Daily and Happy Friday. I hope |
| 0:11.6 | everyone that was celebrating Thanksgiving yesterday had a great holiday. Today we have |
| 0:15.5 | news on Tesla in Berlin. Tesla actually turning down some funding. We'll talk about that. |
| 0:20.6 | We also got a plethora of updates from Tesla in Shanghai. We also got news on Tesla |
| 0:25.1 | in Canada and a couple of the things as well. Start off with the stock though. Tesla |
| 0:28.9 | today finishing down about 3% in the short day of trading today to $1,081.92. That |
| 0:35.3 | compared to the NASDAQ which also had a tough day in the markets overall. NASDAQ finishing |
| 0:39.2 | down 2.2%. Most of the negativity today in the market seemingly being driven by concerns |
| 0:44.5 | over a new COVID variant, new strain popping up in South Africa. This is still very recent |
| 0:49.2 | not a ton of data yet so I don't want to spend a ton of time on it until we do have that |
| 0:53.0 | data. But that was driving concern today and you can see that in various tickers. So COVID |
| 0:58.0 | stocks as they've sort of become known like zoom or Pfizer and Moderna very much up to |
| 1:02.9 | day. Alright I do want to quickly catch up on Elon Musk's stock sale as we did have |
| 1:06.9 | more form fours published on Tuesday evening that we haven't had a chance to discuss yet. |
| 1:11.0 | This was another round of Elon exercising shares from the 2012 Performance Award and |
| 1:15.2 | selling shares to then cover the tax on that exercise. So very similar to the lots that |
| 1:19.2 | we have seen before about 2.1 million shares being exercised and then 934,091 being sold |
| 1:24.9 | to cover taxes and this also means that was a prescheduled sale from back in September. |
| 1:29.3 | Elon hasn't sold in a not prescheduled way since back on November 12th. Looking at the |
| 1:34.4 | totals then and of course pending any other form fours that we may get tonight. So far |
| 1:38.2 | Elon has sold about 9.2 million shares and be about 54% if we assume his 10% is 17 |
| 1:44.1 | million or if it's up to 25 million that'd be about 37% of his total sale being completed |
... |
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