20.05.2020 Tesla Daily Analysis

20.05.2020 Tesla Daily Analysis

Sometime in the recent past amid a growing dispute between the Tesla CEO and the state of California, Elon Musk said he might move the Tesla plant and it's operations out from California and he even got into talks with the Texas Governor about possibly setting up base in Texas. Now the California governor has had something to say about the whole issue and in a "Fast money" Interview he said that he is not worried about Tesla company moving out of the state anytime soon. "We're committed to the success and the innovation and the low-carbon, green growth economy that he's been promoting for decades and the state of California is accelerating in," Governor Gavin Newsom said. One of tesla's bullish analysts, Morgan Stanley's Adam Jonas also believes that its economically challenging to produce vehicles in California and believes the Tesla share of vehicles produced in California will shrink in the coming years. "There is no doubt in our mind that over time, that Fremont's proportion of global production will go down and we think the next plant is clearly going to be in Texas," said the analyst in an interview with CNBC. The Tesla stock closed at $808.01(-0.69) on Tuesday in a general market decline.