Tesla just reported a loss of over 170 million dollars in their latest financial report what does this mean for the Tesla stock price going forward and is it time to go all in or sell all your Tesla stock I'll be discussing just that in today's news breakdown welcome to trade daily where we break down all the best stock market news like And subscribe to keep up to date with the stock market and I really hope you enjoy this video the company invested over 1.5 billion dollars into the coin during q1 of 2021.


not even Elon Musk is saved from the volatility that comes with investing in crypto in a regulatory filing Tesla reported that it suffered a 170 million dollars impairment loss on its investment in Bitcoin during the first nine months of this year noting that it had also gained roughly six to four million dollars by converting some of the Bitcoin that it owned and defeat money a government-issued currency that is not backed by a commodity like gold or silver the electric car company offloaded 936 million dollars in Bitcoin


during Q2 2022 something must reportedly ordered in an attempt to gain back cash due to pandemic related profit and revenue losses in Tesla's China Market Tesla originally invested 1.5 billion dollars into BTC in January 2021. Tesla still holds about 2.18 million dollars in BTC for the company's Q3 2022 earnings report digital assets are considered indefinite lived intangible assets under applicable accounting rules accordingly any decrease in their Fair values below are carrying values for


such assets at any time subsequent to their acquisition will require us to recognize impairment charges whereas we may make no upward revisions for any market price increases until sale Tesla said in Monday's 10q filing for any digital assets held now or in the future these charges May negatively impact our profitability in the periods in which such impairments occur even if the overall Market values of these assets increase they added the news comes is not a big surprise as the crypto World At Large has taken a


massive hit this year in what many have dug the crypto winter Bitcoin is down just under 68 in a one-year period and a 72 percent drop from its all-time high of 68 789.63 in November of last year her most recent data on Monday still Tesla is coming off of a strong third quarter despite BTC losses clocking in a net income of 3.33 billion dollars over double the amount at the same time last year during the Q3 call musk was asked if he would consider putting all of his companies including Tesla and


potentially Twitter under one stock umbrella to create a super company of sorts it's not clear me what the overlap is it's not zero but it's I think we're reaching I'm not worried about it must said about the concept Tesla was down just over 40 percent in a one-year period as of Tuesday Morning this may be a reason they cut car prices by nine percent in China and just before we continue we're giving away a 50 Amazon gift card every single day you just need to subscribe to the channel like this


video and get the Bell on also comment at love trade daily to lock in your entry winners will be contacted privately good luck now let's not waste another second and get right back into the video yes that's writer report says Tesla has cut China prices by up to nine percent as analysts warn of price War Shanghai Tesla Inc has cut prices on the model 3 and model why buy as much as nine percent in China reversing a trend of increases across the industry amid signs of softening demand in the world's


largest automarket the price Cuts posted in listings on the EV Giants China website on Monday are the first by Tesla in China in 2022 and come after Tesla began offering Limited in incentives to buyers who opted for its Insurance last month the price Cuts also follows Tesla's CEO Elon musk's comment last week that a recession of sorts was underway in China and Europe and Tesla said it would miss its vehicle delivery Target this year musk told analysts last week that demand was strong in the


current quarter and that he expected Tesla to be recession resilient China Merchants Bank International said Tesla's price Cuts underline the growing competitive risk for Ev makers in China with industry-wide sales projected to slow into 2023. the price Cuts underscore the possible price War which we have been emphasizing since August said shijai an analyst with cmbi cmbi analysts warned last week that 2023 would bring more competition to the EV sector saying expected to see sales growth for Ev and hybrids on a combined


basis to drop below 50 percent Tesla cut prices in China last year in an effort to be more competitive in the country while in the U.S its largest market the EV maker has raised prices over the past year on the higher cost of raw materials data on Monday showed retail sales and China grew 2.5 in September below the expected 3.3 rise in less than half of August's 5.4 growth the U.S automaker and several Chinese Rivals have hyped prices several times since last year amid Rising raw material costs but Tesla


has regularly adjusted the prices of its cars in China including reductions reflecting government subsidies Tesla told Reuters it was adjusting prices in line of costs capacity utilization at its Shanghai Gita Factory has improved while the supply chain remains stable despite the impact on the economy of China's stringent zero coffee restrictions leading to lower costs it said the starting price for the model 3 sedan was reduced to 265 900 Yuan or 36 727 from 279 900 Yuen while that for the


model y crossover was cut to 288 900 Yuen from 316 900 Yuen the product prices listed on its Chinese website showed Tesla upgraded its Shanghai Factory earlier this year after which it delivered 83 135 china-made EV in September setting an output record for the plan since production began in December 2019. Tesla is now China's third best-selling EV maker after byd motor and safe GM ruling and is the only foreign player in the top 15 list published by the China passenger car Association they might soon take the


number one spot as the Tesla Model y was voted the best among all fully electric vehicles in a recent quality and reliability survey in China while the Tesla Model 3 didn't come in second place it was also near the top of the long list of electric cars based on its real world reliability according to owners the recent survey was carried out by a website called 12 365 Auto the data specifically applies to Q3 2022 the quality and reliability survey included around 40 electric models from a host of


automakers unlike the situation in the U.S there is a multitude of Eevee in China and there has been for years moreover many sell up prices that are much more affordable than Tesla's models but the electric automaker has been lowering prices and offering incentives in China meanwhile the company has been raising prices and eliminating incentives on our Shores the survey tracked owners complaints per 10 000 Vehicles the evu the fewest complaints related to Quality and reliability earn the top honors you can


check out the chart that's attached to the Tweet below the chart above clearly shows the Tesla Model why in the leading position bottom right which is 2.2 recorded complaints per 10 000 Vehicles meanwhile the lexan one tops the list for being the least reliable with complaints nearly 20 times higher than the model is however it's still slightly better than the industry average for all cars gas included which comes in a 42.2 per 10 000 Vehicles based on the data the survey shows the industry average


for Ev in China is 19.2 complaints per 10 000 cars as you may know Tesla is selling a large number of its EV in China especially the model y electric crossover Tesla just recently completed upgrades at its gigafactory in Shanghai which increased the Factory's production capacity considerably however model y crossovers built in China are also shipped overseas Tesla Model 3 secured the fourth place position not far behind the model y according to the website's data it received just 2.7 complaints per 10 000


vehicles what may be most interesting at least to some readers is the fact that Tesla has been under heavy scrutiny in the U.S for its Vehicles quality and reliability however this isn't the first time we've reported on the opposite Trend in China do you think it's because the bar in China is lower and the rivals are inferior or is Tesla simply doing a better job with quality control in China perhaps it's some combination of the two we'd love to read your thoughts and with that we've come to the end of the video


I'd like to give a huge shout out to anyone who's made it this far I hope you enjoyed the video I'd also like to make it clear that this is a news and entertainment video not investment advice you should always do your own research and speak to a financial advisor before making any Investments thank you all so much for your support don't forget to like And subscribe for the chance to win up to twenty thousand dollars in Amazon gift cards and we'll see you in the next video foreign


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