25.06.2020 TESLA Daily Analysis

25.06.2020 TESLA Daily Analysis

Tesla (NASDAQ:TSLA) Inc plans to build a battery research and manufacturin facility in Fremont, California, to be operated around the clock, under a project dubbed Roadrunner, documents from the city government showed. The plan signals the U.S. electric vehicle (EV) maker's efforts to make its own automotive batteries, EVs' most expensive components. Workers assigned to the facility would total 470, of which 400 would "work in shifts, such that there are 100 employees working at manufacturing and production operations at any given time, all day, every day Tesla currently produces batteries with Japan's Panasonic (OTC:PCRFY) Corp at the so-called Gigafactory near Reno, Nevada. Tesla’s valuation plunged today as its stock fell firmly below the $1,000 level, touching as low as $953.14 per share. The stock fell by about 4%, which was a little worse than the pullback in the Dow Jones. Tesla stock has been hovering at around $1,000 a share since hitting its record high of $1,025 earlier this month.