(TESLA) The Big Short Bill Gates has multi Billion dollar short position against Tesla since last year and elon sold over 8 billion dollars Tesla stock to buy the Twitter but can Tesla hit 90$?
while elon has pointed to the Fed as reason for Tesla's declines, with the company's market cap shedding $600 billion on the year.
Tesla shares were down 8% at $113 in premarket trading. The stock has dropped 60% since the start of October with investors citing concern about demand, including China, and the overhang of Chief Executive Elon Musk's involvement in Twitter and his recent Tesla share sales.Tesla suspended production at its Shanghai plant on Saturday, pulling forward an established plan to pause most work at the plant in the last week of December, Reuters has reported.Tesla's latest production cuts at Shanghai come amid a rising wave of infections after China stepped back from its zero COVID policy earlier this month. That move has been welcomed by businesses although it has disrupted manufacturing operations outside Tesla.Like other automakers, Tesla has also faced a downturn in demand in China, the world's largest auto market. Earlier this month, Tesla offered an additional incentive for buyers taking possession of vehicles in December. The company has cut prices for Model 3 and Model Y cars by up to 9% in China, in addition to a subsidy for insurance costs.Brokerage China Merchants Bank International said in a report issued on Tuesday that Tesla average daily retail sales in China from Dec. 1 through Dec. 25 were down 28% from a year earlier. It said Tesla recorded 36,533 retail sales in China from Dec. 1 through Dec. 25.
The brokerage, which tracks week-by-week retail auto sales data in China as a snapshot of demand, said industry-wide sales were up almost 15% by the same metric through Dec. 25. It said average daily sales for BYD, Tesla's larger electric vehicle rival in China, were up 93% in that period.Tesla's Shanghai factory, the most important manufacturing hub for Musk's electric vehicle company, kept normal operations during the last week of December last year and took a three-day break for Chinese New Year.The Jan. 21 to Jan. 27 period in 2023 is a public holiday in China for Chinese New Year.
Tesla's Shanghai plant, a complex that employs some 20,000 workers. accounted for more than half of Tesla's output in the first three quarters of 2022.
Now most people stop buying Tesla cars because it's too expensive. Model3 2019 is $35K now is $60k for a little car the same size of a Toyota Corolla. Now the new Toyota Prius is 58 miles/G and half the price. so can Tesla hit 90$? YES
my first Tesla analysis was at 205$ and here we are now, hope you made a good profit out of these signals and analysis
