Musk Says Social Distancing Is Just "Fascist"

Musk Says Social Distancing Is Just

"What the fuck", he proclaimed after going on about shelter-in-place forcibly imprisoning people in their homes and destroying the American dream.

Tesla's stock price has largely shrugged off the broader market rout triggered by the pandemic, leaving Musk on the brink of the massive incentive package first approved by shareholders in March 2018.

More than $600 million worth of government-issued credits were sold to other carmakers to help them hit tightening emissions regulations, particularly in Tesla's home state of California.

Tesla reported stronger-than-expected first quarter global sales.

David Einhorn of Greenlight Capital has again taken to Twitter to call out Tesla's accounting practices in a message directed at CEO Elon Musk.

Tesla announced its first-quarter profit, saying it earned US$16 million and generated revenue of $US5.99 billion, with its results buoyed by improved automotive margins and reductions in operating expenses.

Tesla also reported strong production numbers at its factories in the US and China, The company built 102,672 vehicles in the quarter, even after its Fremont, California factory was forced to suspend operations in March during the coronavirus pandemic. Let's take a look at a few reasons why Tesla shares might continue heading up even with high levels of uncertainty in the auto industry and decide whether or not now is the time to buy. "And while people will weather the storm there are many small companies that will not".

In addition, "One highlight in particular should have bulls salivating - Tesla says that the Model 3 cars it produces in its Shanghai Gigafactory are "approaching" the profitability of USA -made models, indicating in part that the Chinese factory is running efficiently after just a few months". The company has a good chance of continuing its impressive growth after the next few quarters have subsided and it is able to ramp production up, but new investors need to be aware of some real risks in the short term. Musk called the plant closure a "serious risk".

"To say that they can not leave their house and they will be arrested if they do, this is fascist".

It also appears the stay-home order may force Tesla to dial back its forecast produce more than 500,000 vehicles in 2020.

Another compelling reason to be interested in Tesla stock at the moment is that they are actively working to provide the market with more models to choose from.

Tesla's first quarter revenue is 32% higher than the US$4.5 billion it generated in the same period a year ago, but 19% lower than the fourth quarter when it generated US$7.38 billion.

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