Tesla stock (NASDAQ:TSLA) fell about 4 percent to 985 last week, after falling more than 5 percent. On Wednesday night, Tesla’s earning results will be announced. Investors can expect tremendous year-over-year growth, but they likely will be looking into details to the future projections. Particula attention will be given to the Tesla Cybertruck and Semi.
Covid restrictions have caused Shanghai facilities to be closed since March 28. However, the electric vehicle giant hopes to reopen production soon. Reuters reported on Friday that a resumption of manufacturing could begin on Monday. Bloomberg reported on Saturday that some employees would join a “closed-loop” deal to live on site.
Both stories suggested that Tesla was released by local authorities, although that could change. Both reports indicate that production will increase modestly if all goes according to plan. However, supply chain problems can make it difficult or prevent production to recover.
Tesla has already seen a substantial decrease in Q2 production, although Austin and Berlin’s operations have steadily increased.
News Elon Musk and Twitter
Musk’s informal $43 billion, $54.20 a share offer to Twitter (NYSE:TWTR) could get in the way, if Musk chooses to buy Twitter, Tesla’s stock could be sold.
Twitter’s board of directors implemented a “poison pills” clause on Friday to make it harder to acquire Musk. As a result, TWTR stock owners who buy more than 15% can purchase additional stock at a discount. He now holds a 9.1% stake in the TWTR stock exchange.
Although Musk’s offer exceeded the price negotiated by TWTR before making his investment public, it was still well below Twitter’s record 80.75 in February 2021.
According to various reports, Musk may consider collaborating with others to bid on Twitter. That could mean he won’t need as many Tesla stock certificates.
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