Tesla’s weekend moves: price cuts, pressures precede earnings
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 22 April 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Monday, April 22nd. I'm Julie Morgan. |
| 0:13.2 | It's not even Tuesday and Tesla is making headlines. |
| 0:17.4 | Salesforce and Informatica are reportedly no longer in talks, |
| 0:21.9 | and Mevco has signed a deal with Rivian Automotive. |
| 0:26.5 | There was a lot of news that came out of the Tesla camp this past weekend as shareholders |
| 0:30.9 | brace for the company's earnings report on Tuesday. |
| 0:34.0 | Tesla cut prices in many of its major markets, including China and Germany, |
| 0:39.0 | following notable price cuts in the United States. |
| 0:42.0 | CEO Elon Musk wrote on X that Tesla prices must change frequently in order to match production with demand. |
| 0:50.0 | Vehicles like the Model Y, X, and S were cut by around $2,000 across the various regions. |
| 0:57.0 | Tesla also cut the price of the full self-driving software by a third to $8,000 in the US. |
| 1:04.5 | We also learned over the weekend that Elon Musk |
| 1:07.1 | canceled a high profile trip to India, |
| 1:09.8 | where he was due to announce a 2 to 3 billion dollar investment. |
| 1:13.5 | He cited very heavy Tesla obligations as the reason for pushing back the trip to later this year. |
| 1:20.4 | Other notable news recently saw Tesla announce a cyber truck recall lay off more than 10% of its global workforce and misdelivery estimates. |
| 1:30.6 | Tesla shares are down more than 40% year to date. |
| 1:34.0 | Pre-market TSLA is down 2.8%. |
| 1:39.0 | Sales Forces talks to acquire data management software company Inframatica have fizzled |
| 1:44.8 | out after the parties could not agree on terms. |
| 1:47.6 | According to a Wall Street Journal report late Sunday which cited people familiar |
... |
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