TSLA +8% on S&P 500, Musk COVID-19 Update, China Production, EU Emissions (11.17.20)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 18 November 2020
⏱️ 9 minutes
🧾️ Download transcript
Summary
➤ TSLA stock rises by 8% following the announcement of upcoming S&P 500 index inclusion, a drop from the earlier +13% reaction
➤ Discussion on TSLA shares trading volume and short interest
➤ Update on Elon Musk’s health status
➤ Revisiting Tesla’s weekly production rate for Model 3 at Giga Shanghai
➤ Tesla hires part-time workers for Q4 delivery push
➤ UK moves up ban on sale of internal combustion engine vehicles while EU commission explores stricter emissions standards
➤ California adds $1,500 rebate for some EV sales
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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 Maower here and today we're going to talk a little bit about |
| 0:10.5 | Tesla stock the day after the S&P 500 inclusion announcement. |
| 0:14.1 | We have an update on Elon Musk's COVID-19 status, the production rate out of |
| 0:18.8 | Gigafactory Shanghai, mass hiring by Tesla, and a couple other topics as well. |
| 0:23.0 | All right, so Tesla stock on the day today finishing up 8.2% |
| 0:27.0 | to close at $41.61 cents, |
| 0:30.0 | that compared to the Nasdak down 0.2%, |
| 0:32.0 | so obviously a strong day for Tesla on the back of the |
| 0:34.3 | S&P 500 inclusion news, but probably not as strong as many people were hoping for, considering |
| 0:39.3 | after hours trading yesterday in the $460 range and the open today at $460 per share, so it fell about 5% |
| 0:46.4 | over the course of the day. |
| 0:47.4 | Probably not the outcome that I would have guessed, but I think when you have a lot of people |
| 0:50.3 | expecting a sudden increase, well, the market has a way of disappointing you. |
| 0:54.7 | That 8% gain is nice, but really it's just back to where the stock was trading a couple |
| 0:57.9 | weeks ago. |
| 0:58.9 | This is right around the level that Tesla did their most recent capital raise of around |
| 1:02.1 | $5 billion at. |
| 1:04.0 | But what I think is also interesting here is not just the share price but also the volume. |
| 1:08.0 | There were only about 60 million shares of Tesla stock traded today. |
| 1:11.0 | And over the last year, that's only the 126th highest |
| 1:14.9 | volume day that's out of 253 trading days so basically today just fell right in the |
| 1:20.3 | middle of the pack from a volume perspective. |
... |
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