Twitter Deal on Hold, Tesla Re-Evaluates India (05.13.22)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 13 May 2022
⏱️ 5 minutes
🧾️ Download transcript
Summary
➤ Elon Musk announces Twitter acquisition is on hold
➤ TSLA stock rallies with market
➤ Tesla re-evaluates plans for India
➤ Shanghai officials comment on lockdown status
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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, we're up now. We're here. Happy Friday should be a pretty quick episode |
| 0:10.7 | today as we don't have a whole lot of Tesla news. We've got a couple of updates on Tesla |
| 0:14.2 | in India and China. Then we've got news on Elon Musk's plus-while acquisition of Twitter. |
| 0:18.9 | And that should really do it for the week. So nice to get a bit of a recovery in the |
| 0:21.9 | market to head into the weekend. The NASDAQ today up 3.8%. Tesla up 5.7%. So a nice day |
| 0:27.7 | for Tesla, even if not quite as nice as some other stocks at. Quick look ahead at next |
| 0:32.6 | week probably the most significant macro economic item to keep an eye out for is Fed Chairman |
| 0:37.0 | Jerome Powell speaking on Tuesday. That's about two hours before market close. Although he |
| 0:41.1 | did just do an interview yesterday, so I don't really know what else he's going to say |
| 0:44.2 | at this point, but no matter what, always kind of seems to bring some sort of reaction |
| 0:47.8 | either way. So we'll keep an eye on that. And then as you can see, a few various other |
| 0:51.2 | economic reports next week. All right, let's start off with the Twitter updates. Of course |
| 0:55.2 | earlier this week, we had talked about some of the discussion in the markets happening |
| 0:58.1 | around the possibility that maybe Elon Musk would walk away from the Twitter acquisition |
| 1:02.1 | or try to renegotiate just because of the current market conditions. While that possibility |
| 1:06.6 | seemed to dramatically increase this morning when Elon Musk tweeted out quote, Twitter |
| 1:10.6 | deal temporarily on hold pending details supporting calculation that spam slash fake accounts |
| 1:15.7 | do indeed represent less than 5% of users. End quote. So Elon let that linger out there |
| 1:20.6 | for a couple of hours, but then did follow that up by saying that he is still committed |
| 1:24.4 | to the acquisition. Despite that, Twitter was down about 10% on the day to day, now trading |
| 1:29.2 | at about a 25% discount to the 5420 offer price, reflecting the uncertainty both on the timeline, |
| 1:36.2 | whether or not the deal even goes through. And then especially after this news, the offer |
... |
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