Musk Meets With South Korea, Senate Leader + Inventory, Cybertruck, Enphase (04.26.23)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 27 April 2023
⏱️ 13 minutes
🧾️ Download transcript
Summary
➤ Elon Musk meets with South Korean president to discuss Tesla factory
➤ Musk meets with Senate majority leader Chuck Schumer
➤ Jefferies downgrades TSLA stock
➤ Tesla inventory discussion
➤ Enphase gives weak guidance in solar industry
➤ New Cybertruck sighting in California
➤ Honda comments on EV market
➤ BYD comments on autonomous driving
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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 are going to be talking about a couple Elon |
| 0:10.9 | Musk meetings we've got one with South Korea and one with Senate Majority Leader Chuck Schumer. |
| 0:15.4 | Also talk a little bit about Tesla stock. We've got some new Cybertruck photos and a few other |
| 0:19.2 | items as well. So starting off with the stock Tesla down 4.3% today to close at $153.75. |
| 0:26.0 | Obviously with the NASDAQ up half a percent. We'll talk about a few things here but I think just |
| 0:30.4 | in general we're still in the window where any stock movement can still be tied back to earnings. |
| 0:35.2 | Of course we got the 10Q earlier this week so still probably some reaction there but we did see |
| 0:39.5 | also a downgrade from Jeffries today. They previously had a $230 price target on the stock. |
| 0:45.0 | That has now been reduced to $185 per share for their targets and they reduced their rating |
| 0:50.5 | from buy it to hold. In their note they said that however fascinating the investment case |
| 0:55.2 | remains relative price aggression is not supportive of high multiple investment case while this |
| 1:00.0 | is unfolding and they also said with multiple technical edges from software to batteries |
| 1:04.6 | and manufacturing productivity. Tesla clearly overperforms on engineering but has fallen behind |
| 1:09.5 | in building skills and marketing and product planning. So a little bit short-sighted I think on |
| 1:15.4 | those last couple of comments you know they seem to be poking at Tesla for not advertising which |
| 1:20.1 | is just one subset of marketing I think other than that Tesla does a really great job at marketing |
| 1:24.0 | product planning again Tesla has some of the best selling products in the world and you know more |
| 1:29.9 | expensive prices than their competition. So it does seem a little bit short-sighted and can |
| 1:35.3 | obviously change as Tesla does release new products which of course we are just a mere months |
| 1:40.0 | away now from the cyber truck coming out. So nonetheless those were the comments from Jeffries |
| 1:44.6 | today could have impacted the stock a little bit. It's also been some new conversation about |
| 1:48.7 | Tesla's inventory levels those have continued to rise a little bit not all that significantly though. |
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