$TSLA
- Thread starter Phill Twist
- Start date
I love how every time the market sells off, TSLA goes up big.
Must be a flight to safety.
I recall something like the biggest winners of a new bull market often break out early, before the market looks healthy. I hope that is the case.
It assumes the bull market we had been having was over. Certainly the market price is below the 200 DMA suggests we in bear mode, again hopefully sorting things out.
Can't and should not trade on hope though.
Chart monkeys might also be burned though, w/e piece from IBD about this might be cup with handle...
Nah, musk probably tweeted again
TrendSpider_Jake
Sponsor
Megaphone price channel here with the price nearing support below. TSLA has held pretty remarkably considering where it was a few months back. The MACD recently crossed after gapping down right through the EMA and SMA.
Tesla cuts prices in China as trade war bites
Carmaker’s move comes as market stalls and electric vehicle competition increases
November 22, 2018
Tesla has cut prices in China by as much as a quarter to absorb the impact of the US-China trade war on consumers in the world’s biggest car market.
The California-based electric carmaker said on Thursday it had reduced the prices of its Model S and Model X in China by 12 to 26 per cent respectively.
“We are absorbing a significant part of the tariff to help make our cars more affordable for customers in China,” Tesla said in a statement.
The company has flip-flopped on how to price its cars in China, amid the intensifying trade war and an increasingly competitive market.
China imposed 25 per cent tariffs on $34bn worth of US goods in July after Washington slapped levies on a similar amount of Chinese imports, one of a series of measures imposed by the two countries.
Tesla cut prices in May after Beijing announced lower import duties on foreign vehicles. But in July, the company announced it would reverse the decision, raising prices by about 20 per cent after the new tariffs took hold.
The same month, Elon Musk, Tesla’s chief executive, signed an agreement with officials in Shanghai to open the company’s first factory in China to produce lithium-ion batteries as well as cars.
The latest price cut comes as Tesla contends with a flatlining car market in China, with sales of foreign automakers such as General Motors falling as much as 15 per cent in the three months to September. Automotive sales in China are predicted to post an annual decline in 2018 for the first time since 1990, according to a Nomura forecast.
Some carmakers, such as GM and Chrysler, issued warnings on the effects of the trade war.
But others have pointed to wider concerns about a broader Chinese economic slowdown.
Passing on the cost of tariffs to consumers would have put Tesla at a disadvantage to other electric vehicle brands, some of which are state-backed, in an increasingly saturated Chinese market.
“[Tesla] is having to compete in a market where there is more . . . EV supply coming, sometimes at very aggressive price points,” said Bill Russo, founder of Automobility, a Shanghai-based advisory firm.
Patrick Yuan, an analyst at Jefferies, said future car ownership demand would come from lower-income consumers who are less likely to be able to afford a Tesla. “We believe the pent-up demand that supported strong car market growth in earlier years has largely been digested over the past decade,” he wrote in a note this week.
Carmaker’s move comes as market stalls and electric vehicle competition increases
November 22, 2018
Tesla has cut prices in China by as much as a quarter to absorb the impact of the US-China trade war on consumers in the world’s biggest car market.
The California-based electric carmaker said on Thursday it had reduced the prices of its Model S and Model X in China by 12 to 26 per cent respectively.
“We are absorbing a significant part of the tariff to help make our cars more affordable for customers in China,” Tesla said in a statement.
The company has flip-flopped on how to price its cars in China, amid the intensifying trade war and an increasingly competitive market.
China imposed 25 per cent tariffs on $34bn worth of US goods in July after Washington slapped levies on a similar amount of Chinese imports, one of a series of measures imposed by the two countries.
Tesla cut prices in May after Beijing announced lower import duties on foreign vehicles. But in July, the company announced it would reverse the decision, raising prices by about 20 per cent after the new tariffs took hold.
The same month, Elon Musk, Tesla’s chief executive, signed an agreement with officials in Shanghai to open the company’s first factory in China to produce lithium-ion batteries as well as cars.
The latest price cut comes as Tesla contends with a flatlining car market in China, with sales of foreign automakers such as General Motors falling as much as 15 per cent in the three months to September. Automotive sales in China are predicted to post an annual decline in 2018 for the first time since 1990, according to a Nomura forecast.
Some carmakers, such as GM and Chrysler, issued warnings on the effects of the trade war.
But others have pointed to wider concerns about a broader Chinese economic slowdown.
Passing on the cost of tariffs to consumers would have put Tesla at a disadvantage to other electric vehicle brands, some of which are state-backed, in an increasingly saturated Chinese market.
“[Tesla] is having to compete in a market where there is more . . . EV supply coming, sometimes at very aggressive price points,” said Bill Russo, founder of Automobility, a Shanghai-based advisory firm.
Patrick Yuan, an analyst at Jefferies, said future car ownership demand would come from lower-income consumers who are less likely to be able to afford a Tesla. “We believe the pent-up demand that supported strong car market growth in earlier years has largely been digested over the past decade,” he wrote in a note this week.
Elon Musk says Tesla was 'single-digit weeks' away from death during Model 3 production
Isobel Asher Hamilton
Elon Musk talked to Axios about Tesla's brush with death.
YouTube/HBO
Tesla CEO Elon Musk revealed how close the company came to folding in an Axios interview broadcast on HBO Sunday night.
"Tesla really faced a severe threat of death due to the Model 3 production ramp," said Musk.
He added that the company was "bleeding money like crazy," and the haemorrhaging of cash got to the point where it was "single-digit weeks" away from collapse.
The CEO said he was working seven days a week on every aspect of the production. "I worked in the paint shop, general assembly, the body shop," he said.
Read more: There wasn't some other way to do this" — Elon Musk says "everyone" at Tesla was working 100-hour weeks to ramp up Model 3 production
He admitted that the long hours were not good for his welfare. "No one should put this many hours into work, this is not good," Musk explained.
Musk has talked before about the strain exerted by Tesla having to step up production of its Model 3, staying overnight at the office and struggling to get to sleep without the help of sleeping pills.
https://www.businessinsider.com/elon-musk-says-model-3-production-nearly-killed-tesla-2018-11
Isobel Asher Hamilton
Elon Musk talked to Axios about Tesla's brush with death.
YouTube/HBO
- Elon Musk told Axios in an interview that Tesla was "single-digit weeks" away from death earlier this year.
- This was due to the Model 3 production ramp, which has made headlines for pushing Tesla and its CEO to the limit.
- Musk admitted the long hours were not good for him, saying "no one should put this many hours into work."
Tesla CEO Elon Musk revealed how close the company came to folding in an Axios interview broadcast on HBO Sunday night.
"Tesla really faced a severe threat of death due to the Model 3 production ramp," said Musk.
He added that the company was "bleeding money like crazy," and the haemorrhaging of cash got to the point where it was "single-digit weeks" away from collapse.
The CEO said he was working seven days a week on every aspect of the production. "I worked in the paint shop, general assembly, the body shop," he said.
Read more: There wasn't some other way to do this" — Elon Musk says "everyone" at Tesla was working 100-hour weeks to ramp up Model 3 production
He admitted that the long hours were not good for his welfare. "No one should put this many hours into work, this is not good," Musk explained.
Musk has talked before about the strain exerted by Tesla having to step up production of its Model 3, staying overnight at the office and struggling to get to sleep without the help of sleeping pills.
https://www.businessinsider.com/elon-musk-says-model-3-production-nearly-killed-tesla-2018-11
Whatever happened to funding secured? Secured by cult followers that is
TrendSpider_Jake
Sponsor
Current chart setup into November 28th. Having trouble breaking through the SMA (20).
