11.05.2020 TESLA Daily Analysis

11.05.2020 TESLA Daily Analysis

Tesla stock moved together with the rest of the broader stock market and closed at $819.42(+5.05). According to the information from the China Passenger Car Association, Tesla managed to sell 3635 Shanghai-made Model 3 vehicles in April, 64% down from the previous month. This piece of information didn't affect Tesla stock in any way though because statistically speaking Tesla always has lower sales compared to the other two months of the quarter. The only thing that has got investors sitting on the edge of their chairs and speculating is another tweet that the Tesla CEO made on Saturday. Musk is known for his tweets, some of them controversial that has gotten him into hot soup with the SEC before. In the latest tweet, Mr.Musk picked up a fight with the California authorities over the state's lockdown measures which have closed Tesla's Fremont factory. Later the Tesla company filed a complaint with a District Court in San Francisco about the heah order in place saying that it “puts businesses deemed critical to the nation’s well-being by the federal and state governments between a rock and a hard place.”