happy anniversary tesla. we'll take a trip down memory lane looking at what's changed in the past ten years and what's ahead for electric vehicles. >>> plus speaking of love, one airlines soaring higher as goldman sachs gave it a boost. details ahead after this break and in an emergency, you need a network that puts you first. that connects you to technology to each other and to other agencies. built with and for first responders. firstnet. the only officially authorized wireless network for first responders. because putting you first is our job. >>> when people look at the list of investors part of this idea they'll be amazed at the strengthable of tesla. >> that was ceo of tesla, smask, the stock has gone from $17 a share to nearly $1,000 it's market cap exploded from 1.7 to 184 billion and gains, monsterous 5,837% in the past decade this coming as they take preorders for their new truck. spoke with founder on friday who was pretty excited >> it's the coolest electric pick up truck the world's ever seen so

power tess about tesla the brand.t says tess that has the worst initial quality in the industry, in terms of problems per 100 vehicles, as j.d. power calculates them. the biggest complaint, the fit and finish of tesla vehicles that raises the big question, as tesla has pushed manufacturing, pushed to build and sell more vehicles, does it take shortcuts? maybe not deliberately, but not as smart and as complete as it should be when it comes to the overall quality of its vehicles. that's what came out from j.d. power today, as you look at shares of tesla. keep in mind ntsa is opening an investigation into the touch screens of model s vehicles sold between 2013 and 2016. whether or not that results in a recall remains to be seen, but certainly questions being raised about the quality of tesla vehicles today. >> phil, stay with us. talk about how the disappointing results can impact the carmaker. tim, welcome, what do you think is more problematic for tesla? is it j.d. power saying it has the worst initial quality or the p

all credit to tesla, let's face it, the track is laid. what's he's talked about in electric vehicles versus high fuel vehicles is rising. it's a pretty neat technology they have. >> the stock is up another 15% just today >> unreal. unreal >> tim, we've seen stories like this if it's the cannabis sector, some of the cryptos, tesla is not the same it's a huge market cap and yet still extremely volatile i'm just curious if you think it will ever trade like a traditional automaker at a way lower multiple, if that's ever going to happen or kind of the ron baron thesis is right here >> if they trade like a typical automaker, tesla is in trouble, right? that's what elon musk has done is create enthusiasm like it is a tech company, and some of the ways it has done this is this idea of software in the car overseeing updates in a way that traditional car makers can't do, and there is the potential there to generate new revenue going forward. the potential to turn these cars into robot taxis in the future in a way that investors don't think companie

we also take a look at tesla. at some point soon, they may overtake toyota as the most valuable automaker. let's take a quick look at the markets. it has been a day, but we are firmly in the green for the s&p 500, propped up mainly by banks. the bank index up 2.1%, telling you all you need to know. the 10 year yield is down to 67 basis points. there was a little bit of an increase in volatility today, up to 33. on the actual session, the vix index is slightly lower. scarlet fu joins us halfway into the trading day for some more details on the scene. >> the scene seems to be about finding stability. if history is any guide, we are likely to get it. seven times the s&p 500 has fallen 2% or more since the market bottom on march 23. in six of those instances, the s&p 500 came back to close higher. indications we may continue to build on this advance. you mentioned leading the gains, regulators rolling back some of those put in place after the crisis. that should free up about $40 billion in capital. regulators are mod

and the electric car industry tesla up more than 5,000%. that's right 5,000% we're going to speak with one of the companies biggest bulls on why she says the run may actually just be getting started and always remember as we start to travel a little more. get out of the house, you can always watch or listen to us live on the cnbc app from where ever you may be. a little more traffic and a little more activity there new york's times square. we're back dow futures up 179 >>> all right welcome back it's been a wildly profitable time for long-term tesla investors over the last decade the company making its trading debut ten years ago today at $17 a share. now if you were smart or lucky enough or knew a banker and got in on the ground floor and held on, that investment up more than 5,000% of course it's not been a completely smooth ride with elon musk generating headlines along the way. >> we had an incredibly positive outcome from the smartest investors in the world [ cheers ] ♪ >> we have an amazing product to show you tonight >> it's what goe

. >>> plus we have a tesla mystery. team "countdown" drone patrol capturing these images of a huge unmarked lot on long island that is teeming with what looks to be shiny brand new teslas. while we are still weight on at thes tesla to reply to our inquiry, we are trying to find out exactly what's really going on behind the curtain at the ev giant. what the latest images on the side of your screen are now saying about elon musk's empire post-covid-19. >>> a dose of reality hitting one of facebook's virtual reality goggle designs. as mlb marks the restart of baseball season, we have the list of baseball stocks. let's count the clock here. 59 minutes before the closing bell rings. we are starting "the claman countdown." we are focusing right now with that flight to quality trade and it appears as the dow drops, check it, 674 points right now, the safe haven choice appears to be not gold, but government treasuries. look at the ten-year yield. it's now at .69%. it has dropped from what was this morning a yield of .72%. so th

semi that has been announced and shown by elon musk and tesla. >> we have a technical take on tesla. he writes tesla just now moving above its february 4th spike in fail high of 968.99 a textbook breakout by all accounts i would think tesla is headed to the 1150 level say long, be long. here's tesla's rise through a prior high so dan, is there still more room to the upside here >> carter has actually charted this thing fantastically on numerous occasions all the way back to below $200 about a year ago. stick with carter's call if you took that chart and took away the name, i'd tell you that's the most beautiful breakout i've ever seen in my life it's to the penny. i said this the other day. this stock trades like they're about to buy spacex. spacex was valued a year ago at $36 billion. this company has $190 million market cap could they make a bid for this thing? they already bought his solar city or whatever then you get 100% of elon musk's focus on technologies that are truly innovative maybe that's what's going on because it just can't be on the $26 billion they're supposed to squ

.>>> i am juliette goodrich outside tesla in fremont where a small protest took place. some claiming it is a coronavirus hotbed inside the plant. we will hear what the governor has to say about the inspections coming up.>>> i'm looking forward to being able to window shop which is one of my things favorite things to do.>>> choppers outside the south bay mall for the first time in three months.>>> and national >>> a call for tesla to protect its workers after reports of coronavirus cases at the fremont factory. kpix 5's juliette goodrich is live with how some employees say their health is being put at risk. juliet >> reporter: yes, it was a small protest but i have to tell you they were the boys that, they claim to be the voice for the thousands of employees inside tesla who they say are at health risk. >> you should be shutting down for every case you had to shut down and do a proper sanitation . >> reporter: not a big protest crowd but their message direct and clear. >> we believe workers are being infected here and there's been no tracing, no osha, no proper protectio

is tesla losing its charge here? this is a favorite name of the "fast money" traders. >> indeed it is. i think one thing to keep in mind is that on both calls, they still maintain long-term constructive outlooks on the stock. keep in mind again this is a growth story unprecedented volatility you have dynamics affected on both supply and demand side. i think they're talking about how margins might be compressed, price cuts, whether or not those dynamics are going to have more volatility in the short-term long-term, they both seem to be constructive on the stock. as i said before about the general market, i think a buiito a pullback is actually a good thing and i think they're kind of echoing that going forward. >> you look pretty good behind the wheel of your taesla do you think this is going back up to 1,000 before it goes down to 800 >> if you look at these companies from fundamental valuation perspective, it's pretty tough because you compare the valuation of tesla to a ford, it looks pretty stretched. i would actu

tesla is not officially ranked they did get answers from about 1300 tesla owners in 35 states based onterms of problems per 100 vehicles. moi most of the problems have to do with fit and finish, things like wind noise, squeaks and rattles. all of this coming on a day when the national highway traffic safety administration has launched an investigation into what's going on with the touch screens of 63,000 model s's built between 2013 and 2016, a number of owners reporting problems with those touch screens. whether that leads to a recall or a notice from the company remains to be seen as you take a look at shares of tesla once more, remember that next week we'll get the q 2 delivery data from tesla and whether or not they have to alter their guidance for full year deliveries. they are saying they plan to deliver 500,000 vehicles world wide this year though given what we saw with the factories shutting down in april and a number of issues around the world, the question is whether or not they still plan on keeping that guidance. >> it will be much harder to hit that year end target if they

tesla powers up the future as lic getlic gets its first up-close look. later, trailblazers-- a group of firefighters in pasadena make history, and they're not done yet. >> it's a great opportunity to help people. >> this is the "cbs weekend news." > yuccas: good evening, i'm jamie yuccas in los angeles. record jumps in coronavirus infections on top of mixed messages from political leaders and health experts are putting americans' shutdown sacrifices to the test. tonight known cases are up in at least 30 states, especially across the sunbelt. these states you see here, some that raced to reopen, are now retreating. others have hit pause. coronavirus cases in the u.s. have now reached more than 2.5 million, the death toll above 125,000. that's the worst of any other country in the world. cbs' janet shamlian is in houston and leads us off.or n, e highs. here in houston, intensive care units are full, and officials are calling it an "uncontrollable spread." tonight, texas is hitting the brakes. bars across the lone star state are shut down tonight. >> we don

wouldn't tesla be required to report those cases?> tesla is required to report workplace infections. what complicates the situation is that tesla basically restwell before they were allowed to officially by the county. it was around mother's day shortly after elon musk tweeted free america now. he had gone on this rant about the factory's inability to reopen. and tesla had employees report to work as soon as may 11. may 10 or may 11. and so for that week there was sort of a gap what the policy was from the county level and what tesla was doing. the county did not officially strike an agreement with tesla to fully reopen. and that was may 18. before that agreement, tesla would not have had to report active or known coronavirus cases at the factory. >> we do know that tesla we start with officials and they were required to put in place a number of safety protocols and there had to be social distancing on the job and workers had to wear masks. do we know that all of that is still happening here and how concerned are the employees you're

he was talking to us about tesla.to talk about investing, paul meeks, portfolio manager and investor at the wireless fund good morning, paul. >> good morning. >> would you buy the stock at this price you heard what ron baron said. he wants to get more -- he wants to start a go fund me page to get some more money to buy more. >> he was pushing it hard in the previous segment i admire ron baron he is's obviously a brilliant long term investor if you are going to step into tesla right now, you have to be long term investor tactically in the short term the stock is now approaching $1,000 per share and as you've seen many times in its corporate history, it will crack it will be brief it will give opportunities to buy it lower but right now i think it's extended. again, if you are a long-term investor, however, one of the things i have been impressed with tesla over time is recently as a year or two ago we were on pins and needles every time they reported their quarterly earnings to see if they're going to meet their car de

tesla has taken steps to add more independent directors. stock is doing incredibly well and closed about $1000 yet again. the average shareholder is looking at the stock price and is very happy. it is hard for me to imagine that all of a sudden, you will have a revolt of shareholders demanding that larry ellison or robin home resigned from the board after they have done extraordinarily well in 2020. tesla has always been -- you have these fervent bulls and bears. be not sure anybody would swayed in terms of investors by these corporate governance issues. dana: i don't think so. i think the bottom line is that the shareholders that care the most about corporate governance tend to be fairly small shareholders. the large shareholders have known about tesla's corporate governance issues for years and tend to be long-term investors that have always stood by the company. you have not seen a critical mass of large holders get up in arms about this. hull, bloomberg's dana thank you for bringing us that update. up -- websiteing security provider clo

, inventor nicola tesla. tesla competitor >> we don't particularly comment -- not watching that closely and certainly the competitive environment for tesla, you know, there's been some equal designs people are excited about for the heavyduty market and nicola is certainly in the conversation there. the reality of actually producing those vehicles i think for any oem is extremely difficult and i think there's certainly a learning cycle to be had for anyone trying to go from designs into real production you have to get into production to know what you don't know so that's a major question for anybody that is going into the heavyduty market at this point and something that we're going to be attending to >> yes, well that's something i think people have watched tesla have learned over the last decade or so we'll see how it plays out with nicola colin, thanks a lot for your time this morning. >> thank you >>> time for our etf spotlight today the retail sector ticker xrt, under some pressure today but up 8% so far

still ahead, trouble at the top for tesla. that board directors are getting paid too much. we'll talk about that coming up. this is bloomberg. ♪ emily: tensions on tesla's board with the world's largest proxy advisor warning investors to vote against the reelection of the chair. dana hull who covers tesla for us is with me now on the phone. the complaint is that directors are getting paid too much. how much are they getting paid and how much does it compare to other boards? >> sure, they really have two complaints. the first is about executive director compensation. directors get paid millions of dollars, largely in shares. and makes them a real outlier compared to other publicly traded companies. the second issue is some of these directors pledge their shares as collateral against any personal debt and that is always risky for a company. denholm is on the audit committee. for all of those reasons, i assess, is advising the people vote against her reelection to the board. named chairshe was more recently because over concerns

they feel like tesla saw an opening to let them go in retaliation for that, but interestingly, what teslaaid is that these workers were being terminated for their failure to appear at work. the only thing that they put in writing or that they specify the only reason they specified is that these workers didn't show up during a period when these workers were granted permission not to show up. >> clearly there is concern for worker safety if there are protests. i'm sure you've heard other stories about the working environment inside the fremont factory. what else have employees told you? >> i've spoken to have a dozen workers and they describe a situation where there is a lot of tension and stress over the need to work sort of next to each other in close proximity with machinery that everyone is touching and concerns about people coming together in break rooms at the entrances and exits people rushing on and off the line. people feel like there is not enough social distancing in practice and the enforcement is lacking as well. some have described an environment that it is work as normal, but

. >> reporter: this tesla worker says he will not come back until cal osha conducts health and safety inspections. he says he is speaking on behalf of other tesla employees who fear talking will get them fired. >> as a worker i am extremely concerned. i am one of the few that decided not to return. i'm not afraid to lose my job because i would rather lose my job in my life. >> reporter: tesla defied public orders and reopened the factory one week early. in an internal email obtained by kpix 5 tesla acknowledged workers had been infected but did not say how many . and also claimed that all infections occurred outside the factory with zero covid-19 workplace transmissions read >> one of the largest factories in california, why no cal osha inspectors? >> reporter: one disclosed anonymously to kpix 5 quote after seeing how they were not enforcing any type of measures other than masks, i left. they don't even check our temperature anymore. no all,ssible no tool cleaning. >> osha should send inspectors to the plant to see if workers have masks, if they are being properly protected and that'

nikola tesla they were trolling tesla when they chose the name. >>> when we come back we have breakingd, you are watching "squawk box" right here on cnbc. ♪ y-yeah ♪ ♪ yeah ♪ hey, hey while also capturing the possibilities. even something like co2. chevron has spent over $1 billion on carbon capture projects. and is investing in start-up companies working to transform carbon into new forms of energy... ...to help address climate change. our retirement plan with voya gives us confidence... ...we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. i'm good at my condo. well planned, well invested, well protected. voya. be confident to and through retirement. >>> welcome back to "squawk box. breaking news. friday last trading day of the week after a wild thursday. may import prices expected to be up .6 of 1% are up 1%. certainly seems as though the last couple of months down 2.6, down 2.4 maybe in the rear-view mirror. now let's talk about petroleum up .1. we can see the difference headline up 1% and on a year-over-ye

.>>> plus, is the virus spreading through the tesla plant in fremont? the serious claims tonight from workers on the inside. >> we believe workers are being infected here. >> i'm one of the few that have decided not to return.>>> right now on the kpix 5 news at 10:00 and streaming on cbsn bay area. big crowds are gathering in san francisco right now to celebrate a monumental supreme court ruling. good evening, i am ken bastida. >> i am elizabeth cook. this is a life look at the castro district in san francisco. 56 years after the civil rights act was passed the supreme court ruled that it protects lgbtq employees from sexual discrimination in the workplace. today's ruling was written by president trump first nominee to the court, justice neil gorsuch. take a look at the celebration from the ground. the crowd there growing by the minute. there were also celebrations in the south tonight. kpix 5's kevin feely is in san jose tonight. >> reporter: in san jose a sense of elation and accomplishment over the protection and recognition of the supreme court's de

do you think there is fraud going on it tesla? have plenty of questions about the numbers, plenty of questions about management veracity. is gou have to go to do to the solarcity acquisition and what went on after. i could go on and on. it is a company where we have seen a revolving door of executives. chief councils come and go quickly. let's say that i think the accounting side of the story is important, but the extreme, extreme valuation relative to its reality is much more important. case, why is the didn't the risk off in march do further damage to tesla? if the crash did not take them out -- tonda: we are listening scarlet fu and jim chanos at our bloomberg global summit. we will take a break here. and for bloomberg viewers, we will take you back to scarlet. >> it is the rebound that has been just as strong, but the stock went down much more than the market. it?ou are still short on jim: yes. >> let's talk about electric truck maker nickela. there are hopes there -- they would be a tesla disruptor in the future. do you have

tesla is back below $1000 per share. emily: thanks so much for that update. appreciate it. want to move on now to that facebook story. vice president joe biden: on the public to sign an open letter -- joe biden calling on the public to sign an open letter to facebook, saying this upcoming presidential election is at risk. i want to bring in david kirkpatrick. obviously, we have been covering now for almost two weeks this particular post by president trump in which he suggested that looters be shot. mark zuckerberg took the stance that that should remain untouched. employees,n facebook former facebook employees not happy with it now, the vice president himself. what is your take? david: there is no question that facebook is not done a lot to stop this information from spreading. they have really failed in that department. what is interesting is to see vice president biden, democratic presidential candidate, coming out and basically pointing his guns at facebook, blaming it for, to some degree, what we have seen with the empowerment of donald trump. facebook is really vulnera

we hear exclusively from a long-term bear on tesla's prospects. do a check on the markets. asian markets mostly higher. investors pretty much overlooking the increase in cases in the likes of the u.s., south korea, even in the face of australia. those gains under pressure after trump aid peter navarro was quoted as saying china trade deal was over. he later clarified that his comments were misunderstood. and president trump himself tweeted that the trade deal with china is fully intact. up .6%. csi 300 modestly higher, .3%, having given up some gains. 707.49.n at it had a wild ride earlier, investors having to reassess the risk. china accelerating capital market to counter the virus. the kospi up .6%. all sections on the index are higher with energy and consumer companies leading the gains. sep's up by .6%. sti down .1%. p come also lower. downtors continue to sell on philippine stocks for a few -- comp lagging over the last 12 months. just looking at some aspect classes. the u.s. dollar down a little. the first time in six days we had it up after

but don't forget, tesla has redefined what it means to be a car. it is single handedly pulling the global auto industry into an electric world they redefined a car from being a smart box to being a connected vehicle and perhaps product in your life so there's some extraordinary things happening the short answer is i agree with alan be a little careful. look at earnings, growth rates but don't make any mistake about the fact that technology is leading us into a new world. >> yeah. hey, alan, it's jon fortt. good morning do you expect a bucket of cold water, perhaps, for the market is there something that perhaps jolts the market out of this -- well, if you think the market is in a daze. and how do you think investors should guard against that eventuality? >> i would -- i certainly would not be 100% equities at the moment i would have a good reserve in case i am right and there is a setback. i think people looking towards second quarter results but more importantly third quarter results when they're assuming the economy is going to be back in full st

you might remember that tesla last month defied alameda county's health order when it first reopened its plant and led to elon musk threatening to move the company right out of the bay area. we have reached out to tesla for comment and will let you know when we hear back. >>> happening today for you, change will be front and center in some bay area cities. it comes as protesters across the country police departments be defunded. "today in the bay's" jackie ward is live for us in san francisco at city hall with a look at what's happening here in our area. jackie? >> reporter: different cities are taking different approaches. three want to legally limit the use of weapons at protests. here is what they are demanding that be banned, the use of rubber bullets, flash bangs, and chemical agents like tear gas and pepper spray. mayor london breed says she will lead the effort to divert some police funds. lead remembers considering a ballot measure to limit the police economies's power. many want the police department defunded and feel a disproportionate number of officers are no longer there

weeks after tesla's fremont factory reopened several employees tested positive for the coronavirus 2 of them worked in the plant's assembly facility which is near the fremont factory. the washington post is reporting that the affected employees were told to stay home. the factory reopen may 18th after tesla ceo elon musk initially defied health orders by opening early. now some employees say they're concerned about their safety governor newsom says tesla did not get special treatment saying that it was a spirit of compromise between alameda county and tesla that made the reopening possible. and starting on friday restaurants in san francisco can start offering outdoor dining as of now bars that do not serve food are not expected to reopen until mid august, but bar owners are now pushing leaders to put bars on the same time lines as restaurants, according to the city's current timeline. restaurants can reopen for outdoor dining on friday and resume indoor dining right around mid july, but bars cannot open until mid august bar owners say that that's not soon enough to save some of them

around in store for tesla. guy, what do you say >> listen, again, this is one that i clearly haven't figured out but i said couple weeks ago and will say again, the interview from davos really said something in retrospect, elon musk feel it's he has tremendous air cover and the stock has acted in kind and so it's very difficult to bet against this. i have no idea how expensive the options are but every time you mbemba bet against is wrong. so bet against is wrong so path of least resistance >> dan >> not sure it plays well for chinese auto sales you know, to me, this one makes no sense i'm with guy i know you think we're bunch of dummies but things don't have to make sense and you don't have to buy either because this is probably one of the dumbest stories i've seen in my 25 years in stock market. >> let's make it easy, show of hands, pass on tesla, not going to touch it. show of hands if you think tesla is not worth it. keep them up all four of you guys who thinks tesla is a pass down $300 okay >> we go down $

check out shares of tesla. marks 10 years since the electric car maker went public stock is up more than 5500%. since th n aenot bad investment. stay tuned, you're watching "squawk box" on cnbc mhm, yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. now offering zero commissions on online trades. we charge you less so you have more to invest. ♪ because now you can expewatch all your favorite hulu shows and movies on xfinity. you're only a voice command away from award winning shows like the handmaid's tale, to new hits like little fires everywhere. and fx originals you can only watch on hulu. that's just the beginning of what you can experience with hulu on xfinity. tv made simple, easy, awesome. joining us to explain that and what we can learn from that is kevi

we haven't even mentioned tesla.940 i apologize to the american public but there are just stocks that are -- i'm sure the 1999 crowd is saying that's what we have here but i come back and say, look, if the fed is backstopping everything, it's very difficult for a stock to get crushed should carnival really be alive after what happened in yokohama? >> your point is a good one. the 1999 crowd, reporting on it during that time, '96 was greenspan. >> irrational. >> and then we had another 3 1/2, 4 years of it before we hit our highs in march of 2000 spotify up -- >> people didn't like the kroger call i liked the kroger call. i spoke to -- >> yeah, you did. >> i thought kroger had a good quarter. >> it is the ipo market and then the market for these special purpose acquisition corporations is showing signs of enthusiasm i think, wouldn't you say, jim >> completely. martin franklin did one with burger king. maybe you get the right one and make a lot of money. david -- i have been working on clorox clorox has this business

what you have now is tesla spread the gap between them and tesla. think you kind of ride this one out, look for support in the name it's obviously around the 20-day moving average is 900. so you have a lot of room between here and then but that's your exit strategy in tesla, keep playing higher and play it for a 900 exit on the way down. >> we are just getting started here on "fast money. we'll hear from the ceo of ripp ripple first, kim kardashian and harley quinn, what do they have in common need better sleep? try nature's bounty sleep3, a unique tri-layer supplement that calms you, helps you fall asleep faster and stay asleep longer great sleep comes naturally with sleep3. only from nature's bounty. can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information. talk to your financial professional or consultant i geh. common bird.e. ooh look! over here! something much better. th

tesla marking ten years as a publicly traded company. the stock is up. 4,000% 4 to 5,000 percent, but who's counting, folks? that's the increase from the ipo ric price. it's been a road with lots of twists and turns and especially so for the ceo here is a closer look at some of the company's biggest milestones >> we had an incredible positive outcome from the smartest investors in the world. we have an amazing product to show you tonight >> he said he's thinking about taking tesla private 420 being the price he would do it add >> i mean it's legal, right. >> bringing out the model y. >> you think you can work this out with the fcc over the next two weeks? >> welcome to the cybertruck unveil >> oh, my god. today surpassed $1,000 per share for the first time >> there you go. a colorful company with a colorful entrepreneur atop it. for more on tesla, let's go to seema for trading nation >> that was a fun package. tesla up more than 130% so far this year. let's bring in the trading nation team. do you think tesla can maintain its leadership

but look at tesla. we will break down the insane run up for that next and what they told us about it, next. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries. you turn 40 and everything goes. tell me about it. you know, it's made me think, i'm closer to my retirement days than i am my college days. hm. i'm thinking... will i have enough? should i change something? well, you're asking the right questions. i just want to know, am i gonna be okay? i know people who specialize in "am i going to be okay." i like that. you may need glasses though. yeah. guidance to help you stay on track, no matter what comes next. ♪ (music) anncr: give customers access to precisely what they want, when they need it the most. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries. . >>> addressing issues of economic december december party, ben and jerrys who has never activism says we must dismantle white supremacy. >> thank you

ago area we are testing on tesla.s as elon musk confirms that towants tesla's productions begin. the truck story looking like it's gonna be talking on. you wonder how many robin hood accounts are ultimately going to be involved in that. certainly the story around the robin hood rally keeps going. we will talk about that a little later on. alix: we definitely will. but it looks like tesla has some stuff although hurts is bankrupt. but tesla at least does things. yeah, and what a road it has been for that company. the fact that it's now trading in the thousand. you wonder what elon musk's policy on ownership and rhetoric fills. he said the water -- the stock was worth too much. also point out that airline stocks are being hit hard. guy: absolutely. got secretary .inasian -- secretary mnuchin that's coming up, this is bloomberg. ♪ bloomberg. ♪ i'm guy johnson, this is bloomberg markets. we are waiting for the oil inventory numbers, the api yesterday was at over eight lien barrels, but we have not yet see if we canwill do

i think jim is watching two down grades today of tesla. >> yeah, we've got a goldman taking tesla from buy to a neutral. they like gm, neutral to buy then morgan says tesla goes to underweight they're 680 goes to 650 target, they fear china and tech composition, 132% move versus s&p minus 7 the goldman piece resonates with me look, i don't think tesla is a sale, i like tesla very much, but what i like is because we're not going to have -- we need social distancing, because we can't carpool, because people are afraid of mass transit, i think autos are going to make a come back and that's why i like this goldman call very much on gm i also like autozone, i think that if you were to make a bet even on ford you can make money. i say bet on ford because ford doesn't have the balance sheet that i like, but gm has very good china business. i think you don't need to sell tesla to buy go. m, that's kind of i think brokera brokerage artifice >> jim, that's interesting jpmorgan last night was talking about this pent up demand issue, more in terms of services, but their larger point is it's going

because people see tesla how they want to see it.nk the product of tesla has always been the narrative. >> to be clear, you don't necessarily see fraud going on here. there might be some accounting irregularities in the way that -- that is something another short seller has pointed out. talks about the accounts receivable. do you think there is fraud going on here at tesla? >> we have plenty of questions about the numbers and management's veracity. all you need to do is go back to the solarcity acquisition. and see how they justified it and what came out legally after that. i could go on and on and on. the offer, the bid. have a company where we seen a revolving door of the that has continued. chief counsel's come and go quickly. the accounting side of the story is important. but the extreme, extreme valuation relative to the reality is just as important. >> you are short some large chinese banks. explain how this will pay out -- play out in the same way that the federal reserve is a backstop for that? >> china is interesting. it has

tesla rallied above the record close.y have raised ahead in china to resume production in shanghai. they have cut prices in the mainland. the oil and gas company is negotiating a restructuring of their loans to take a majority of the equity in bankruptcy. chesapeake owes $9 billion and is debating whether to keep interest payments to next week. tesla electric will decide whether to launch lawsuits over the payoff scandal by next week after report found former executives involved in the issue failed to comply with rules. had cash and gifts from the former deputy mayor of a town that hosts a power plant. next, the south korean court rejecting a request for an arrest. we will look at tech manufacturers and what comes next in the dragged out legal process. lots more to come. this is bloomberg. ♪ haidi: another milestone for u.s. stocks as the rally continues. s&p 500 wiping out the losses for 2020. let's take a look. sophie, what are we watching? >> let's start with the big picture look at brought gains we see in asia. they h

tesla also hitting new highs. , from wedbushcuss securities. what is driving this?s this the right mark? think fundamentally it continues to be china. if you look at some of the numbers coming out, make going into june and the second half of the year, we could see 100,000 deliveries. side, given the profitability of the pent-up demand, i could see tesla going higher, especially going into battery day later this month. emily: their reports about tesla workers testing positive for the coronavirus and fremont. that is of a risk is knowing that elon musk pushed for the plant to reopen? after the fremont standoff, especially around workers and health issues, that will be something people have to navigate. you are starting to see pent-up demand. especially in parts of asia. the big key here is what we are starting to see globally. especially going into some of these new product launches. let's talk about those. obviously working on a truck. there is a company we have been following. how do you feel about the competition? there is a massive opportunity. going after the sto

>> what is happening regarding unions, elon musk's tesla plant has been battling the unionization of the plant because california isn't a right to work state. once that happens all the workers have to be a member of the union, texas is a right to work state you won't have that issue. however, travis county which is home to the state capital, austin, is a pretty liberal county and what the united auto workers union and other unions are doing is pressuring county commissioners in travis county to make any offer on property taxes which could be worth hundreds of millions of dollars contingent upon some sort of labor package. if you get these tax incentives you have to have union labor at your plant which is why musk and tesla executives should consider going to a county like williamson county, hays county or caldwell county which are on the outskirts of travis county, they have lower land costs and more conservative governance that isn't going to require that sort of union deal. >> obviously a situation we are monitoring. another situation is in the pacific northwest. i understand you a

both named after nikola tesla.efore we get to that story, here is a quick comparison nikola founded by trevor and it's stock nearly doubled. its market cap even eclipsed ford's earlier this week tesla began trading in 2010, up 6,000% since then and today surpassed 1,000 shares for the first time he seems to be taking notice of his competition, the brewing electric battle. >> not much of a battle yet. a product they have shown to people and say, look, we're going to build this. when you saw tesla mostly fair above $1,000, people took note of the fact elon musk sent an internal memo. we've seen the memo. he said in the memo to staff, it is time to build the semi. one quote, production of the battery and power train for the semi would take place at gig, a nevada, gigafactory outside reno with work occurring in other states they have already made it clear they are looking at a potential new manufacturing site potentially in the midwest, maybe oklahoma, maybe texas. that's where it could be built why does this matter ni

tesla did not respond to our request to comment. in fremont, robert handa, nbc bay area news. >>> let's head to chief meteorologist jeff ranieri as we head to another week. jeff is working from home. now it's time for summer camp and the parents are really scrambling, jeff. >> everyone is like, what day is it, what week is it, still. the good thing is as this summer vacation kicks off, albeit a lot different than most summer vacations, there will be a little bit of heat but not all week will it be too hot for you. so as you get readjusted with some of the plans for the kids, i think it will be a pretty good week coming our way. heading to the live camera on san jose, we have some high clouds moving over you can see on our live camera, and just a touch of humidity. we had temperatures in the 70s, high of 78 in downtown san jose, right now at 70. if you want to open your windows, just know we'll get those cooler temperatures back by 8:00, 9:00 and 10:00 tonight and that will make it more comfortable. tomy don't s-- tomorrow i don't se

here is "techbytes." >>> tesla has ranked dead last in jd power's annual study.t was the first time tesla was included in the survey and it was deemed the lowest quality of 32 major brands due to problems reported by owners, jaguar and mercedes bhe-benz were also low scoring. >>> and amazon is trying to crack down on knockoffs. they are launching a new counterfeit crimes unit as part of an effort to eliminate bogus products. last year nike stopped selling directly on amazon citing those concerns. >>> ands with a self-driving navigational system can stop in for a free whooper. those are your "techbytes." >>> outside lands are not out happening this summer, but organizers are out with next year's lineup. >>> and a young when we closed our wynn committed instantly to keeping all 15,000 team members on-board. then focused our five-star level of service to all who needed it. we made improvements to people's lives. we strove to be better and we made people happy. this closure may have temporarily taken us out of wynn and encore, but it couldn't take the wynn and encore

in addition to tesla, and i think this is a very real possibility, i am hopeful we'll see tesla come to texas but in addition to tesla, spacex has very substantial operation already in texas. this week today we've got spacex launch, the first launch of u.s. astronauts on u.s. soil on a u.s. rocket in over a decade. spacex will be launching from cape canaveral, but they also have a launch facility in south texas. the lot and i talked about the desire to substantially expand the launch facility in south texas to create even more jobs in south texas but he said the biggest problem is the environmental review, we can expand the operation into a get through the enormous red tape and bureaucracy. so i think speeding that up is incredibly important. to give you a sense of scope, i actually pulled some numbers. so between the year 2000-2016, the epa issued a total of 22 rules, estimated by omb to cost $1 billion or more. that was a total of $104.4 billion. every other federal agency combined issued only 19 of those rules that cost an estimated $34.4 billion. so to put it in perspective, epa

. >>> tesla workers at the fremont plant have reportedly tested positive for covid-19. according to the "washington post," two workers who wanted to remain anonymous out of taber of retaliation, say that the company reported several cases of coronavirus last month. the employees who tested positive were told to stay home. this com musk defied alameda county's stay-at-home orders and reopened the plant. tesla and health officials came up with an agreement allowing the facility to operate in may. we reached out to tesla for a comment on this but we have not heard back. >>> two pop-up testing sites are open in santa clara county. one at the valley health center in gillroy and the other is at the santa clara service center in san jose. both will be open from 10:00 a.m. to 4:00 p.m. through friday. you can get tested for free, even those who are not showing any symptoms. the new site opened outside the martin luther king youth center on oregon street. >>> a new emergency center will lablss residents to 25 family also be offered shelter services and meals. >> this is an incre

on tesla, he has a sell.ically the only sell he has, a $300 price target and likes some of the differences between nikola and tesla nikola's a little more outsourced, tesla they do everything first hand. >> considering where the valuation is right now, t differences though, it is important to know those differences because nikola is going after the commercial side of the business, the badger which is a consumer pickup truck, that will be a smaller part of the business and you are leasing the truck, but you are also bundling that with services as well as fuel. so the business model is very different as well as the fact that they are basically partnering on the manufacturing side of the business so they won't have that heavy infrastructure but there are skeptics about hydrogen, period >> yeah, fuel cell, different estimates about when those vehicles will be ready but when you have the emissions targets coming down from governments especially in europe, they are really stringent. this is not about them choosing

now some tesla workers say they're concerned about their safety. governor newsome says that tesla did not get special treatment saying that it was a quote spirit of compromise in quote, but between alameda county and tesla that made the early reopening possible. >>beginning friday restaurants in san francisco can start offering outdoor dining and as of now bars that don't serve food aren't expected to reopen until at least mid august, bar owners are now pushing health officials to put bars on the same timeline as restaurants. that's according to the city's current timeline restaurants can reopen for outdoor dining on friday and then resume indoor dining in mid july but bars would not be allowed to open until mid august. bar owners say that that's not soon enough to save many of them from shutting down for good. >>so tired as an industry is being treated like we're not important or that were up to no good. we're so tired and put on the backburner and not or 2 august 13th, and that's a definite little for a lot of bars don't have money or not we're n

this is the defensive lineman sullivan thomas presenting his dad with a brand-new tesla.s wearing a 49ers shirt, i think you know where his loyalties lie. showing up with a brand-new luxury car. not bad. i like the story. he plaintiff only because he was bored. >> is arriving home on his scooter only to find a little family of bears waiting for him. he got out of there quick. he looks like a big time running back on the security cam. it captures it pretty nicely. there you go. talking about the baseball thing, i don't know how much time we have left, but no spitting, no high-fives. can you imagine baseball with no spitting? >> is going to be baseball, but it's going to look very different than what we have seen in the past.>> have a good night. busy day at the dunphy compound. we have a wedding tonight, and this afternoon, claire is debating duane bailey in the race for town council. (lowered voice) and now the "weekly saver" says that some voters find claire-- quote-- "angry and unlikable." to those voters, i say, "wait till she sees this." no one can mention it to her.

tesla, this stock, this year even though the rest of the world may be going to hell, they seem to best fine. what do we frak that >> people like them some elon. this stock just keeps going up it is a hope stock it was like amazon was in the early days she in a lot of the places that people are going he is way ahead of things and i think people are relying on him. some of the stuff, the 420, his pedophile tweets, i think it is all part and parcel to people believing is in this guy and the things he is trying to attempt. so from an economic point of view i'm not a stock person, but it has been a good bet, and pete that bet against him have had their hand against him >> what it means to me is a counter intuitive bet and there is a lot of money to be made, but he, more than anyone else, tackled a different kind of probl problem. is that part of what this is >> he has to be doing things that are hard. i have lots of tussles with him. i might be in one right now i'm not sure i have a lot of admiration for someone that takes on space and does it well the tunnel thing, i think it is fascinat

. >>> shares of nikola red hot but can the company keep up its momentum and take on the giant tesla? >>> later, one sector seeing rk, trgtinod'sh tay maetwe'll tell you what it is "fast money" is back in two. is creating food insecurity on a scale not seen in decades. an estimated 54 million americans will struggle with hunger. ♪ with 200 food banks and 60,000 meal programs, feeding america is the largest hunger-relief organization in the country. join morgan stanley in supporting feeding america and your local community food bank. ♪ >>> welcome back to "fast money. it is the new hot electric vehicle stock. nikola roaring higher, it is up 96% since its june 4th debut joining us now is trevor milton, founder and executive chairman of nikola motors trevor, great to have you with us. >> thanks. thanks for having me for sure. >> i wanted to ask you about this crazy roller coaster ride for your stock and it's a roller coaster only going up it seems so far but you're a company right now with a market value that is approximately eight times the revenue that you're projected to make in 2024

tesla is now the world's most valuable automaker. the announcement that sent the electric carmaker's stock surging. >>> and from petaluma to the major leagues, the high school baseball star making >>> muni says it will no longer provide bustos cops being dispatched to anti-police brutality protests. and now the police association is firing back. wilson walker is live in san francisco with more on this story. wilson? >> reporter: yes, allen. the last two weeks have been defined by people calling for change, calling for specific reforms. well, muni made a change, and now we have a rift between the transit agency and some members of the san francisco police force. >> so i learned that we were transporting police on social media. >> reporter: it was social media firestorm that grabbed the afangs attention of muni director and muni will no longer transport police for one specifics purpose. >> for protests against police brutality. it is a special condition we need to take to into account. >> reporter: and that prompted this social media r