Musk Addresses Tesla Production Status, Acknowledges Supply Issues + Dogecoin, EV Credit (02.25.21)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 26 February 2021
⏱️ 13 minutes
🧾️ Download transcript
Summary
➤ Tesla reportedly temporarily halts production at Fremont, Elon Musk responds
➤ New federal EV tax credit legislation introduced by Oregon Members of Congress
➤ Rumor on Giga Berlin production timeline
➤ Update on Tesla battery project in Australia
➤ Refresh Model S and Model X spotted
➤ Analyzing claim that SEC is investigating Elon Musk’s comments on Dogecoin
➤ Rob Maurer appears on Fox Business: https://video.foxbusiness.com/v/6235324954001#sp=show-clips
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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, now we're here and today we're talking about reports that Tesla has |
| 0:11.0 | temporarily shut down some production at 3 months, we also have a new electric vehicle |
| 0:15.1 | tax credit bill introduced in the senate, news on Gigaburlin, Tesla Energy, the refresh |
| 0:19.5 | model S&X, and a couple other topics. |
| 0:22.0 | First up, quick look at the stock, Tesla today finished down 8% to $682.22, that compared |
| 0:27.4 | to the NASDAQ also with a very challenging day, down 3.5%, if you compare the graphs |
| 0:31.6 | they look pretty similar directionally, but Tesla having a bigger degree of movement. |
| 0:35.4 | My opinion remains the same as we've been talking about over the last few days, this |
| 0:38.2 | isn't isolated to Tesla, Neo today was down 10%, X paying down 8.5%, Archimodo down |
| 0:43.2 | 9%, clearly some shifts in the overall market, doesn't necessarily mean that's not important, |
| 0:47.9 | we need to understand the context, but as we've talked about I don't think any of that context |
| 0:51.4 | is anything that's going to be impactful to Tesla long term, I'm invested for the long |
| 0:55.2 | term, so to me, pretty inconsequential. |
| 0:57.6 | Alright, so the big news today is on the status of Tesla's production at Fremont, very |
| 1:01.4 | early this morning Bloomberg posted an article, reporting that Tesla was temporarily halting |
| 1:05.7 | production on a Model 3 line, at Fremont, they've actually since updated the title of |
| 1:10.0 | that article, reads a little bit less aggressively now, quote, Tesla scales back Model 3 output |
| 1:14.5 | amid supply chain woes, and quote, before we get too deep into this, I don't think this |
| 1:18.3 | really impacted the stock too much today, this was out about 6 hours before market open, |
| 1:22.6 | Tesla opened down just 1-2% or so, then proceeded to decline throughout the day as the markets |
| 1:27.4 | overall fell off, but if you just saw Tesla down 8 and this production article, then you |
| 1:31.6 | might pair them together and assume it was more impactful than it seemed to be. |
... |
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