Thoughts on TSLA's 25% Drop, Cybertruck, Highland Updates, Rental Business (08.17.23)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 17 August 2023
⏱️ 10 minutes
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Summary
➤ TSLA stock is down 25% over the last month
➤ Musk arrives in Japan
➤ Cybertrucks arrive in Fremont
➤ Bloomberg reports on Project Highland
➤ Design studio confusion
➤ Tesla alludes to rental business in job listing
➤ V4 Supercharger installations continue
➤ JD Power publishes charging survey results
➤ Core Lithium announces Tesla notice
➤ Ford teases Mustang announcement
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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've got a couple updates on Cybertruck and |
| 0:11.2 | Project Highland. |
| 0:12.2 | We also have an interesting new job posting from Tesla a couple things on charging and |
| 0:16.6 | more. |
| 0:17.6 | Looking at the stock pretty much a repeat of yesterday Tesla down 2.8% closing at $219.22 |
| 0:22.7 | cents. |
| 0:23.7 | The NASDAQ yesterday was down 1.15% today down 1.17% so the rough past month continues. |
| 0:29.6 | I did have somebody today on X asked me to talk a little bit more about the share price. |
| 0:33.3 | I don't think there's really a whole lot to talk about that we haven't covered but it's |
| 0:36.2 | always helpful to put things in context. |
| 0:38.3 | So over the last month yes very tough for Tesla down about 25% the NASDAQ only down about |
| 0:42.8 | 7% during that period. |
| 0:44.5 | So a couple things obviously the market hasn't been great but during a normal period where |
| 0:47.9 | the NASDAQ is down 7 we'd maybe expect Tesla to be down 12-15% or so. |
| 0:52.8 | So definitely still underperforming but yet again bringing in more context if we look |
| 0:56.8 | at growth and automotive, a couple of proxies we can use for that. |
| 1:00.0 | I like to look at ARC-K as a proxy for high multiple stocks not because of any particular |
| 1:04.2 | affinity to the fund but just based off of what they invest in I think it does a decent |
| 1:08.1 | job of capturing the sentiment around growth type of names at the moment. |
| 1:12.5 | So that's down 19% over the last couple of months and then bringing in automotive, Ford |
| 1:16.8 | and GM. |
| 1:17.8 | Those are both down in the 15% range as well. |
... |
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