Elon Musk shuts down and cuts all ties to a major Chinese division of Tesla Motors how will this affect the supply chain even more importantly how will the stock price handle this shocking news watch the full video to find out 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 Tesla's Factory in Shanghai China is its most productive plan it's been upgraded to have an annual production capacity of


about 1.1 million units so it's not a surprise to see investors moving the stock lower when there are clouds on the horizon in China as of 1pm met Tesla's shares were near the day's lows down 2.6 percent that is likely because of another Resurgence of cavade 19 cases and restrictions in China Tesla generates approximately one-fourth of its sales from its China plant so a new surfaced that Chinese electric vehicle maker Neo has temporarily suspended operations at two of its plans due to local virus-related restrictions


some investors are betting it will also impact Tesla today Reuters reported that Neo has halted its production due to efforts to stem the virus spread the company confirmed that deliveries and production have both been affected Neo's facilities are in Jefe approximately 300 miles from Shanghai but production at Tesla's Shanghai plant was already interrupted earlier this year by cavade 19 lockdowns in China and Tesla suppliers could also be impacted by lockdowns Tesla doesn't provide monthly sales data but Neo


missed expectations for deliveries in October partly due to the kavi 19 related impacts and Reuters has also reported that Walt Disney's Shanghai themed Park Resort has closed with visitors being required to test negative for the virus to exit Tesla's Shanghai plan is an important one for the company until its new German Factory ramps up to full capacity the China plan has also been supplying European customers so it makes sense for investors to be concerned if production at the Shanghai Factory is limited it


helps explain today's stock drop but investors should know that the company's long-term potential won't likely be affected by these short-term issues this comes as Tesla closes its first showroom in China in retail strategy shift sources Shanghai in Beijing say why electric vehicle giant Tesla has closed what had been its Flagship showroom in China a move source is described as one aimed at pairing retail costs in its second largest market Tesla confirmed the closure of the showroom in beijing's upscale downtown


shopping center Park you green to Reuters on Wednesday it said it had relocated the store to another mall called Raffles City that showroom was opened in mid-october and is smaller than the original two-floor showroom in Parkview Green two people with knowledge of the matter previously said Tesla had shut the parking green showroom late last week the store which opened in 2013 was Tesla's first in China and was renovated and expanded in 2018 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 a member of the mall's staff confirmed to Reuters during a visit to the site on Wednesday that Tesla had shut the showroom whose windows are now plastered with posters belonging to the next tenant a streetwear brand babe


their contract with us expired and Tesla decided not to extend it the mall staff members said a call to the store earlier in the day was redirected to the Raffles City showroom Tesla owns and runs over 200 Outlets across the country that display models and arrange test drives for potential buyers Reuters reported in September that Tesla was considering closing some showrooms and flashy malls in cities like Beijing after traffic plunge during coffee restrictions it also plans to put more emphasis on


stores and less costly Suburban locations that could also provide repairs as the company Works to meet chief executive Elon musk's goal of improving service for customers as part of that effort Tesla has been hiring technicians and other staff for service jobs in China the company's China recruitment website showed 305 openings for service jobs as of Wednesday little change from September more than half of Tesla's China stores do not offer repair or maintenance services and are in high


rent locations where space is limited that included the now closed Parkview Green Tesla store Tesla owns all of its own stores rather than relying on dealers it also sells as cars online that has a lot of more leeway to adjust your retail strategy that had been initially modeled on Apple's glossy stores in high rent locations Tesla has cut starter prices for its model 3 and model y cars by as much as nine percent in China reversing a trend of price increases across the industry amid signs of softening demand in the


world's largest auto market Tesla sold 318 151 vehicles in China in the first nine months of 2022 up 55 from a year earlier according to the China passenger car Association by comparison overall sales of electric vehicles and hybrids increase 113.2 percent reporting by Xiang Yan and Brenda go and Shanghai and Sophie you and Beijing editing by Stephen Coates Kenneth Maxwell and Bernadette Baum is Tesla a safe investment today Baron funds and investment management company released its Baron opportunity fund


third quarter 2022 investor letter a copy of the same can be downloaded here in the third quarter the fund declined 2.38 institutional shares compared to a 3.37 decline for the Russell 3000 growth index and a 4.88 decline for the S and P 500 index the fun fell sharply for the year to date and trailing 12-month periods however the philosophy of the fund is to achieve strong long-term performance in addition please check the fund's top 5 Holdings to know its best picks in 2022 Tesla is now on our list of the 30 most


popular stocks among hedge funds as per our database 72 hedge fund portfolios held Tesla at the end of the second quarter which was 80 in the previous quarter we discussed Tesla Inc in another article and share the list of the biggest Global Tech companies by market cap in addition please check out our hedge fund investor letters Q3 2022 Pages for more investor letters from hedge funds and other leading investors why Ford Tesla and Nikola stocks were up this morning is the sale of a few dozen trucks a good enough reason to buy


Nikola stock so it's Thursday and stock markets are tumbling once again the S P 500 fell another 1.1 percent by 1010 am ET today the good news is that automotive stocks were doing a bit better than average after initially slumping both Ford and Tesla were up about half a percentage point this morning but the sector was being led Higher by an unlikely hero electric semi truck maker Nikola who shares spiked early this morning earnings are the reason this morning the company announced that it beat earnings


on both the top and bottom lines delivering sales of 24.2 million dollars and an adjusted loss of only 0.28 dollars per share Wall Street had expected 0.39 the company said it built 75 tree battery electric semi trucks in the quarter delivered 63 to dealers and cited purchase order for 100 more in November after the quarter closed Nikola also described the progress is made toward building hydrogen energy business it has purchased land for hydrogen production Hub and has tied up with a European Energy company to secure


hydrogen Supply on the continent Nikola also said it wants to build 60 hydrogen fueling stations for large trucks by 2026. in contrast the news from Ford and Tesla wasn't so great yesterday Ford announced a 10 decline in October sales and today Reuters is reporting that Tesla saw 14 decline in electric vehicle EV deliveries from its Shanghai plant that explains why neither of these automotive stocks was doing quite as well as Nikola was early today and yet while Ford and teslaq nikola's


good news Catalyst today here's what they both have that Nicola does not profits over the last 12 months Tesla put up an impressive 11.2 billion dollars in net profit from its ee business and Ford is not far behind with nine billion dollars in trail and profits in contrast Nicola is still sitting on a 753 million dollar net laws for the same time period and while its adjusted profit last quarter might have been better than analysts feared Nikola still ended up with a loss of 0.54 dollars per share


for the quarter when calculated according to generally accepted accounting principles Gap Nicola might have the better headlines today but I'd still rather invest in companies with profits 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 if you want more crazy trade news how about this video we did