IMHO, All the weak hands are selling today and tomorrow because they feel the news feed has dried up and they are basically day traders.
Today was a very good news day and pretty much what we expected:
1) With 3 new factories under construction (Shanghai, Berlin and Texas) Tesla knows it has huge battery demands coming and they have known this for years.
2) So they decided to take batteries seriously, completely redesign them from the ground up and make their own battery factories. They bought Maxwell for their talent in this process.
3) Today they announced that they have pretty much finished the prototype of their new battery and they know it works. There is still some tweaking to do but it works.
4) This new battery affects the entire construction of the car itself in a good way.
5) They will continue to get batteries from their existing suppliers and by the time that Berlin and Texas are up and running their new battery factories will be up and running.
6) Berlin will have a battery factory as well as Texas.
7) The Plaid Model S is taking orders and it is faster and more milage than any other car in production.
8) Improvement in casting of car body parts will now make it possible to make a $25,000 car in about 2 years.
I can remember when the head of GM said that once batteries get to 500 miles the ICE is dead because that is a full tank of gas. We are here now.
Evs are still only about 1% of the cars produced to there is a tremendous market to grow into.
So it is hard to find anything negative about today's show unless you are a day trader.
