Giga Berlin Expansion, Twitter Close, EU Ban, GM Credits, PCE (10.28.22)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 28 October 2022
⏱️ 12 minutes
🧾️ Download transcript
Summary
➤ Tesla begins expansion work at Giga Berlin
➤ Elon Musk closes Twitter deal
➤ European Union agrees on ban of internal combustion engine vehicle sales by 2035
➤ Personal consumption expenditures reported for September
➤ GM comments on EV credits
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Executive producer Jeremy Cooke
Executive producer Troy Cherasaro
Executive producer Andre/Maria Kent
Executive producer Jessie Chimni
Executive producer Michael Pastrone
Executive producer Richard Del Maestro
Executive producer John Beans
Music by Evan Schaeffer
Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody, Rob Mauer here. Happy Friday. Today we are talking about some news on Gigabril |
| 0:12.0 | Lynn expansion plans. Also got updates on Elon Musk's Twitter acquisition. Of course, |
| 0:17.6 | the personal consumption expenditures report, some news from GM and some news out of the |
| 0:21.8 | EU. So looking at the stock, Tesla today up 1.5% to close at $228.52, NASDAQ up almost |
| 0:29.9 | 3% on the day. So a little bit of an underperformance today. Maybe not what everyone was helping for |
| 0:34.6 | with the acquisition of Twitter now being completed what we'll talk about in a second. Of course, |
| 0:40.3 | the Twitter overhang famous words, but no such reaction from that today. However, definitely |
| 0:46.3 | worth noting that for the week, Tesla is up about 8.2% versus the NASDAQ up 2.2% on the week. |
| 0:53.0 | So we definitely have seen outperformance from Tesla on the week, of course, as people have |
| 0:57.9 | realized that at least for this week, Elon now having to sell and the deal now closing. |
| 1:05.4 | So of course, Elon last night tweeting out the bird is freed a lot of articles today and |
| 1:09.4 | last night about people already being dismissed on the CEO, CFO, Chief, other officers being dismissed |
| 1:19.4 | and sounds like some engineers already as well. So Elon making moves here pretty quickly with |
| 1:23.7 | Twitter. One thing to note on just kind of the overhang and the sales, we don't really have the final |
| 1:30.6 | distribution of how the Twitter acquisition has gone down in terms of equity that |
| 1:35.5 | possible margin loan for Elon. If there is a margin component for Elon still, which we've |
| 1:39.5 | mentioned many times as a possibility, we could still have a little bit of this, you know, |
| 1:43.8 | Twitter overhang as there could still be uncertainty if Elon would eventually sell Tesla to |
| 1:50.2 | fulfill that margin loan or to eliminate that margin loan rather. So we might not be completely |
| 1:55.8 | free of that, but still nice to see this deal now now concluded. All right, personal consumption |
| 2:02.3 | expenditures, we did get this report this morning, largely coming in at expectations. So core |
| 2:06.8 | personal consumption expenditures, excluding food and energy, that was up 5.1% year over year. |
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