Musk Restarts Production Against County's Wishes, China April Numbers, Deutsche Bank Note, Short Interest (05.11.20)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 12 May 2020
⏱️ 14 minutes
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Summary
➤ Elon Musk restarts Tesla's production at Fremont against the order of Alameda county, says “if anyone is arrested, I ask that it only be me"
➤ Tesla officially files lawsuit against Alameda county (https://www.courtlistener.com/recap/gov.uscourts.cand.359281/gov.uscourts.cand.359281.1.0.pdf)
➤ California Governor Gavin Newsom and local officials weigh in
➤ China registration and production numbers for April
➤ Deutsche Bank issues updated TSLA stock note after investor call with Tesla
➤ Updated short selling data on TSLA stock
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Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody Rob Mower here and today we are talking about the ongoing |
| 0:10.3 | conflict between Alameda County and Tesla in regards to Tesla restarting production. |
| 0:14.8 | So I want to catch us up on what happened over the weekend and then we'll go into the news today. |
| 0:18.8 | And then we have April registration numbers for China as well as an investor note from Deutsche Bank after their conversation with |
| 0:24.6 | Tesla's IR team and updated short interest to cover at the end. |
| 0:28.5 | All right on Saturday's episode we of course talked about Elon's tweet about suing |
| 0:31.9 | Alameda County and planning to move |
| 0:33.4 | Tesla's headquarters out of California. To catch us up to today shortly after that |
| 0:37.2 | tweet, Tesla did file that lawsuit so it looked like something that they |
| 0:40.5 | had already had prepared before Elon's tweets. |
| 0:43.0 | We'll talk more about the lawsuit in a minute, but after that suit was filed, we heard publicly |
| 0:46.8 | from Fremont's mayor, as well as Palo Alto's mayor, which is where Tesla's |
| 0:51.2 | current headquarters is in California. |
| 0:53.0 | Fremont's mayor said quote, as the local shelter and place order continues without |
| 0:57.0 | provisions for major manufacturing activity such as Tesla to resume, I am growing |
| 1:01.4 | concerned about the potential implications for our regional economy. |
| 1:05.2 | We know many essential businesses have proven they can successfully operate using strict safety |
| 1:09.8 | and social distancing practices. I strongly believe these same practices could be |
| 1:14.3 | possible for other manufacturing businesses, especially those that are so critical to |
| 1:18.8 | our employment base. The city encourages the county to engage with our local businesses to come up with acceptable guidelines for reopening our local economy. |
| 1:26.8 | As we have done for over a decade, the city is prepared to support Tesla as soon as they are able to resume automobile manufacturing operations |
| 1:33.4 | and are committed to a thoughtful balanced approach to this effort that |
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