#1MILLION SUBSCRIBERS: ALL YOU NEED TO KNOW ON TESLA WEEKLY REVIEW AND THE CO-FOUNDER ELON MUSK

Dipping into Doge

Elon Musk has plans to deck out Doge supporters with Tesla gear.

  • Tesla will accept Dogecoin as payment for some of its merchandise.
  • He showered the meme coin in praise in his TIME person of the year interview, saying it was a much better option for a transactional currency than Bitcoin.
  • Tesla closed down 5% on Monday, possibly feeling pressure from another share sale from Musk – he’s now dumped $12.7bn in shares in five weeks, around 70% of what he told Twitter he would sell.

Tesla will make some merch buyable with Doge & see how it goes

The SEC picks a fight

A whistleblower sends Tesla straight into the SEC’s line of fire… and its share price straight to the bears.

  • The SEC has opened a probe into the EV leader after a whistleblower claimed it didn’t tell investors about defects in its solar panels.
  • Analysts and investors are getting sick of its solar business, saying it only adds tension at a time when high valuation names are going through turbulence.
  • Tesla fell 5% in Monday morning trading to briefly lose its $1tn valuation trading before recovering itself to close down 0.59%, though prices are still down 11% for December.

German Gigafactory goals

After months of grinding the gears, Tesla is finally putting its long-overdue Gigafactory plans into drive.

  • Production at the Berlin Gigafactory will (hopefully) start in December after a six-month delay due to regulatory obstacles.
  • Tesla plans to make 30k vehicles at the plant in the first half of 2022 to make up for lost time.
  • The delays have cost the firm over €1.1bn in European subsidies. By the time the factory starts production, it will no longer be the first of its kind, which is a breach of the funding agreement.

German Gigafactory goals

After months of grinding the gears, Tesla is finally putting its long-overdue Gigafactory plans into drive.

  • Production at the Berlin Gigafactory will (hopefully) start in December after a six-month delay due to regulatory obstacles.
  • Tesla plans to make 30k vehicles at the plant in the first half of 2022 to make up for lost time.
  • The delays have cost the firm over €1.1bn in European subsidies. By the time the factory starts production, it will no longer be the first of its kind, which is a breach of the funding agreement.

Is Tesla overvalued?

It’s rare to hear a bad word about Tesla, at least from the Teslanaires who’ve won big from its stratospheric rise. But not everyone is so optimistic.

  • JPMorgan analysts think the stock will lose 77% by the end of 2022.
  • They’ve given it an underweight rating, and a $250 price target. On Friday it opened at $1,080.39, so that’s a big slide.
  • But not everyone is so bearish. Wedbush gave it a $1,400 price target earlier this week.

Musk tosses more Tesla shares

Musk makes good on his promises, selling off more Tesla stock.

  • Prices have lost nearly 9% since Elon Musk got a resounding “Yes” to his Twitter poll asking fans if he should sell 10%.
  • He sold another $1bn worth of shares on Tuesday, marking a total of $9.85bn offloaded in the last two weeks. That’s about half of what he promised.
  • Tesla tried to reassure people with a $1.06bn investment into its Texas Gigafactory, which should be finished this year.

Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?

Elon does a Karen

Everyone’s favorite sassy CEO is throwing shade all over the place this week, but apparently share prices prefer the sunshine.

  • Musk threatened JPMorgan with a one star Yelp review if the bank continued its $162m lawsuit against Tesla. His fans took it upon themselves to finish the job, flooding JPMorgan’s Yelp profile with so many seriously bad reviews that the page was temporarily suspended.
  • Musk also had a pop at Binance this week, calling its CEO “shady” for his handling of a recent Dogecoin (DOGEUSD) glitch on the platform.
  • Tesla prices dropped 4.14% on Tuesday.

Serious allegations deserve serious response

Pinkie promise?

Tesla gets nudged over 5% in Monday morning trading before closing up 2% thanks to Elon Musk making more Plaid promises.

  • Tesla will debut the Model S Plaid in China as early as March next year, according to a recent Musk tweet.
  • China is arguably its most important market and only has access to the Model 3 and Model Y right now, so it’s expected to be popular.
  • Musk is infamous for breaking his Twitter promises though (we’re looking at you, Cybertruck) so let’s wait and see how this plays out.

Probably around March

Wedbush takes Tesla up a gear

Bullish coverage from a top Wedbush analyst around the sunny future of EVs drives gains in the market.

  • Wedbush’s Dan Ives hiked Tesla’s price target to $1,400, a 23% premium on Friday’s close, claiming that Tesla is leading the EV revolution.
  • He thinks EVs present a $5trn market opportunity in the next 10 years, and expects electric sales to account for 20% of all auto sales by 2030.
  • The market seems to agree. Tesla was up 3.7% on the coverage to recover some of its Elon-induced losses, Lucid Motors (LCID) gained 17%, and Rivian (RIVN) lifted 4%.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.