Musk's Stock Sale, CPI, Tesla Semi, BYD, Rivian Earnings (08.11.22)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 11 August 2022
⏱️ 16 minutes
🧾️ Download transcript
Summary
➤ Is Elon Musk finally done selling TSLA stock after his second major round of sales to finance a possible Twitter deal?
➤ CPI and PPI data comes in lower than expected
➤ House to vote on Inflation Reduction Act
➤ Musk comments on Tesla Semi timeline
➤ BYD reportedly supplying batteries to Tesla
➤ New Tesla Energy project
➤ Rivian reports Q2 earnings
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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 Maurer here. Welcome back to Tesla Daily. Looks like I picked another |
| 0:11.2 | great day to travel. We had some big news drop on Tuesday night. Elon Musk has sold another |
| 0:15.8 | almost $7 billion of Tesla stock. Talk about that. And if this is finally the end of his |
| 0:22.0 | selling for Twitter, Elon has commented on that, but we'll also take a look at the financial |
| 0:26.4 | structure of the Twitter deal just to get a better understanding of where we're at. And |
| 0:29.7 | we've also got an update on the Tesla semi news on Tesla's battery supply, an update on Tesla |
| 0:34.3 | energy, Rivian earnings, and more. Right, quick look at the stock. Tesla today down 2.6% |
| 0:39.2 | to close just below $860 per share while the NASDAQ was down 6.10% of a percent. I do want to quickly |
| 0:44.7 | catch up on a couple of macro things here first. So we had the CPI and PPI reports come in over |
| 0:49.2 | the last two days, even though expectations seem to be rising going into those reports as we |
| 0:53.2 | had talked about earlier this week. Both did come in below expectations. So we actually get a |
| 0:58.2 | couple of nice threats to look at here on top. We've got CPI headline number on bottom PPI headline |
| 1:02.8 | numbers. That means that's inclusive of both food and energy. You can see the month of a month |
| 1:07.6 | change here. Flat for headline CPI. First time we've seen that in over a year and then PPI or |
| 1:13.1 | producer price index, that was actually slightly down month of a month. Now again, that was heavily |
| 1:17.8 | due to energy costs, which does affect the cost of pretty much everything. But if we look at the |
| 1:21.9 | core CPI and the core PPI, excluding food and energy, we are still seeing month of a month |
| 1:26.2 | increases here is 0.3% for the CPI is 0.2% for the PPI. Those are both still a little bit higher than |
| 1:32.0 | what the Fed would want to see from a steady state perspective, but both did come in below expectations |
| 1:37.0 | as well. So I think largely both of those reports can be taken as positive news trending in the |
| 1:41.9 | right direction. Of course, we won't have the next Fed meeting until September. So we will still |
| 1:46.0 | get to see August CPI and PPI before another interest rate change decision has to be made. This |
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