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Today we discuss all the Tesla news surrounding model 3 production rates, Elon Musk still being CEO and Chairman plus a new Tesla factory in Shanghai China!

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Are you flipping my flapjacks? Finally Tesla shareholders have gotten some really good news and a plethora of good news within the past 24 hours. Tesla fans Tesla people that want to buy the car have gotten some phenomenal news guys, we got to look at all this and Tesla stock has made a huge move here today.

So Tesla shares pop after positive model three production comments from musk at shareholder meeting. Okay, there’s a lot of good news that came out of the shareholder meeting. Tesla stock rose more than 4% Wednesday which now it’s up even more than that we’ll show you in just a minute.

A Wednesday after the company revealed its nearing its model three weekly production rate and shareholders back Ilan musk as chairman and CEO. So basically a lot of people still want to him to keep his Chairman and CEO role.

Some people wanted him to split it off, but the majority of shareholders out there they wanted him to retain that title of Chairman and CEO. And the fact that they’re they’re getting on production that is phenomenal.

Must told shareholders it is extremely likely extremely likely tesl will hit a weekly model three production rate of 5000 cars by the end of the month. Okay, so basically producing 5000 cars a week and they expect to hit that by the end of the month.

Obviously we know Tesla has been struggling with production issues and faces concerns about its finances. That’s obviously come out over the past few months. The electric carmaker has struggled to meet.

Its own production goals for model three pushing back its forecast steadily since musk claimed in July that the company would likely be making 20,000 per month by December, Musk later lowered that forecast for the first quarter of this year to 2500 a week.

Tesla fell short of that even then was hitting around 2200 so we know it’s just been bad news kind of bad news around Tesla lately, right? They were missing production, you know quotas by huge amounts.

They had production slowdowns. We’ll even look at a few other things that happened here. Obviously the short sellers have been all around Tesla, you know like sharks and just you know, kind of you know, talking about finances talking about how much money they’re burning in cash.

Which is around I think over a billion dollars a quarter. So this has been a lot of bad news delays have been frequent throughout model three production with must saying in November, a supplier really dropped the ball at the Nevada Giga factory.

A CNBC report about Tesla facing potential delays from faulty parts coming off the line also send jitters through the market. Also CNBC last week quoted workers as saying Tesla’s factory paint shop in Fremont, California has had several fires in the last four years in the fires caused more problems.

Okay, when Tesla unveiled the model three in 2016, the company touted sensible price and spoke of the car as would be the car of the future to drive profits for Tesla to make, you know, massive amounts of electric cars, new cars.

A best selling electric car in the US more than 450,000 more than 450,000 people have already reserved that vehicle paying a $1,000 refundable fee to do so I’ve never heard of any car doing anywhere even close to those type of numbers, guys, for a car that wasn’t even launched yet.

Like that’s just ridiculous. Okay. Beyond the model three, the company has been grappling with over automation tensions with suppliers, including Panasonic and a turnover of executive talent.

And all this has been well publicized and been out there and just kind of pushed so much negativity and so much negative news around Tesla stock. And that’s why if you look at the past three years, you know, as far as Tesla stock performance is actually not very good.

And despite, you know, you think Tesla’s doing all this positive stuff. They got this huge long term future you think all the past three years, the stock has had gone up hundreds of percent, and really their stock performance over the past three years has been pathetic.

Mainly because there’s just been so many worries and those worries just keep getting talked about and talked about over and over again. Tesla’s head of worldwide sales Robin Wren announced Tuesday night and this might be the biggest news of anything. Okay.

Tesla’s head of worldwide sales Robin ran on announced Tuesday night that the company plans to build his first factory outside of the US in Shanghai Shanghai China guys the Chinese government recently announced that it will allow for an electric vehicle makers to fully own auto factories there this is huge guys.

I don’t think people understand how big this is. Okay, Tesla’s moving to China is hotly anticipated anticipated as building some vehicles there would allow the company to avoid import tariffs Okay.

That is massive guys. Those import tariffs can can make you know, cars are much, much more expensive. But if you’re building them, they’re all sudden you know, the prices go down dramatically for the consumers and consumers in China get even in a situation.

Where they even want to buy more and more Tesla’s not just because the brands string that’s just because of all the features those cars have made, not just because it’s electric, but also because it could end up being cheaper than now the other manufacturers that are that are importing into China guys.

His comments came after shareholders voted down Strike two proposals which intended to split up the CEO and Chairman roles held by musk and shake up the company’s board of directors. The latter proposal would have removed three types of board members.

Instead, all three were reelected venture capitalist, also Elan musk brother and also CEO of 21st century. Musk also said the electric carmaker will soon produce more batteries at its massive Giga factory than all other electric vehicle companies combined, including those in China.

My goodness, guys, I absolutely see this stock. And you know, as I’ve taken this screenshot now is up over 7%, up over $21 a share here today. It’s just been a great day for Tesla, for Tesla shareholders for Tesla fans across the board.

So much good news. But you know, the getting the production hopefully by the end of the month to 5000 units model three, that’s great. I’m keeping Ilan musk as chairman and CEO, that’s great.

But the biggest news, in my personal opinion is the news that they’re going to build a factory in Shanghai. And when you think about how big of a market China could be to Tesla over time, and when you think about the million competitive advantages Tesla already has over pretty much every auto company out there.

And then you think, to the fact of they won’t have to, you know, I guess you could say when consumers go to buy it, they won’t have to pay those hefty tariff fees. Like this is massive stuff, guys.

So needless to say, Man, I’m so bullish on Tesla, I’ve been so bullish on Tesla, like, you know, looking at it from long term future, I can’t own any shares, because that company is burning through money left and right.

It’s against my investing religion to buy unprofitable companies when I’ve done so in the past, I’ve been hurt by those companies. So I can’t buy the stock for myself and it hurts me because I know 510 years from now.

I’m probably going to be kicking myself in St. Jeremy, why did you not buy Tesla you believe in that company? The same way I’ve done the you know that with Netflix and Amazon, so Tesla will just be another one but it’s good to see I’m happy you know, the company succeed and whatnot.

And you know, it’s just taken my long term thesis of Tesla dominating the auto market to new levels and watch how things play out over the next five to 10 years here. Everything is just coming right in Tesla’s hands and good good for Tesla shareholders that you know good news is finally being reported.

It’s not just as bad malarkey that kind of keeps getting you know talked about over and over again. So anyways, let me know your opinion on Tesla. Are you as bullish as I am as far as them and being the dominant auto manufacturer 510 years from now? Or are you less you know, bullish on that.

Do you think they’re gonna call it a business I would love to hear from you guys regardless of what your opinion is there in the comment section. Anyways, thank you for watching guys and have a great day.

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