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Tesla's Giga Berlin plant in Germany shut down by suspected arson fire
$Tesla (TSLA.US)$ $NIO Inc (NIO.US)$ $XPeng (XPEV.US)$ $BYD COMPANY (01211.HK)$ Tesla's "gigafactory" near Berlin was evacuated Tuesday after a fire and major power outage that was being investigated as a suspected case of arson. Police in the state of Brandenburg said they were inspecting a letter the force had received claiming that a far-left environmental organization was responsible for the fire, but that it had yet to be authenticated.
Elon Musk responded: Tesla founder Elon Musk ridiculed the apparent activist attack in a post on his social media platform X, even mocking them in German. "These are either the dumbest eco-terrorists on Earth or they're puppets of those who don't have good environmental goals," Musk said in the post. "Stopping production of electric vehicles, rather than fossil fuel vehicles, ist extrem dumm."
What is the impact? Tesla said it did not expect production to resume this week, and it estimated the cost to its operations at several hundred million euros.
What is the impact? Tesla said it did not expect production to resume this week, and it estimated the cost to its operations at several hundred million euros.
Comment: The arson fire affected the share price which fell 3.9% and 2.3% on Tue and Wed respectively. Tesla stock has already fallen 7% on Mon (together with other EV stocks) due to the price cut war initiated by BYD and Xpeng. I reported the Monday EV stocks sell-off in the post here:
EV Feb Sales (from Jan) Tesla fell only 15.1%. BYD and Xpeng slump 40% and 45% respect...
EV Feb Sales (from Jan) Tesla fell only 15.1%. BYD and Xpeng slump 40% and 45% respect...
Source:
$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Stellantis NV (STLA.US)$
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ZnWC
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I reflect trading experience by writing journals. My posts and comments are for education purpose not financial advice.
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Trump 2.0 Era: What's the next opportunity in the markets?
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ZnWC OP : As production will only fully recover next week, share price may continue to be bearish temporarily. Tesla was hit thrice this week - price war started by BYD and Xpeng, China's weak economy report during 2 Sessions and arson fire (triple whammy). At least we know the share price was affected by macro reason, hopefully rebound soon.
sentosa island : The message was magnified
ZnWC OP sentosa island : Tesla may be the only EV stocks fell on Tue and Wed. Even Rivian rebounded after Mon -3.8% sell-off. Cathie Wood is still buying which shows her confidence in Tesla for the long term.
Ark Invest bought 66.20K Tesla's share worth $11.97 million on 5th Mar 2024
https://www.moomoo.com/community/feed/112049320034310?share_code=00L4XC