Musk Sells $4B, Tesla China Discounting, Recall, Zoom, Lucid Earnings (11.08.22)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 9 November 2022
⏱️ 24 minutes
🧾️ Download transcript
Summary
➤ Musk sells TSLA stock
➤ Tesla implements insurance rebate after cutting prices in China
➤ Zach Kirkhorn Form 4
➤ Over-the-air recall of Model S/X
➤ Tesla China’s domestic and export sales for October
➤ New feature coming soon
➤ Tesla investor relations team recognized
➤ Musk comments on Twitter activity levels
➤ Lucid reports Q3 earnings
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Executive producer Jeremy Cooke
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Executive producer Richard Del Maestro
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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 Mallorch here, apologies for the slightly late start on this live stream. |
| 0:11.6 | Of course, we just had some breaking news Elon Musk has filed form for this evening indicating |
| 0:16.5 | sales of Tesla stock over the first couple of days this week as well as on Friday. |
| 0:21.6 | So we'll talk about that. |
| 0:22.6 | We've also got a lot of news out of China today in terms of October numbers as well as |
| 0:27.2 | another incentive that Tesla has added for the sale of Tesla vehicles and we do have other |
| 0:31.5 | news items as well. |
| 0:33.4 | So we'll start off with the stock, of course, today down about 3% to $191.30. |
| 0:39.3 | Now with the benefit of hindsight, we can see big reason for the underperformance over |
| 0:44.2 | the last few days has been Elon Musk selling. |
| 0:47.2 | So this is just coming in, hopefully we've got all the form for us by the time I'm recording |
| 0:51.7 | here, but we can see we've got four form for us here, one of these actually from Zach |
| 0:55.9 | Kirkhorn and then three from Elon. |
| 0:59.6 | So I put together the, or here we can see the form for us, you can see the sales on November |
| 1:06.6 | 4th. |
| 1:09.2 | This was the entirety of those sales, but just to quickly see all this together, I've put |
| 1:15.0 | these into Excel. |
| 1:16.0 | That's why I was getting a little bit of a late start on this as this was just coming |
| 1:18.2 | out, but we can see the sales over the three days. |
| 1:21.4 | So on November 4th, he sold about 10 million shares for just over $2 billion on Monday. |
| 1:29.0 | He sold about half or sorry, he sold about 5 million shares for just over $1 billion. |
| 1:34.6 | And then today, he sold about 4.4 million shares for 843 million. |
... |
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