the excitement around tesla is no more. after getting the cold shoulder from the s&p 500 index, that partnership as well announced between two of his key competitors today. gm and nikola. of onethink at the end of the shows last week when you said what are you going to watch , i said tesla. i feel pretty vindicated. there was a surge in a lot of stuff. nutsd absolutely gone since the lows in march. housing speculation, economic recovery. it has also sold off hard since the end of august. look, this is just an example, now giving some of it back. one caroline, as hyde would call the market. you missed that conversation earlier. .old was higher on the day the yen and the dollar also gaining on the day. larger against the basket of currencies. interesting move in the treasury markets. a lot of people bidding those up. was down at one point to 3.8. caroline: we saw a little bit of risky version -- risk aversion in europe. a record lowching for gilt. some brexit news. we could see international law broken in the u.k.. joe: you g

then tesla. tom has been harping on this, this idea that shares gained 1000% in the past five months. they are going to do it in a different way, geared toward private sales that are reminiscent of what hurts did. don't valuations seem heady at this point given the economy? gabriela: i would say two interesting things. seeing a tremendous amount of equity, not just by tesla but over the past few months. we have seen an amount of credit , and that has been well exorbitant. absorbed. the fed were able to open capital markets again. that is a sign things are functioning peering it is a sign we have a lot on the sidelines, had $1 trillion then we pre-pandemic. there is a lot of money that needs to be put to work. absolute and on a relative everybodytember 1, has to dress up for q3 and justify their existence. what is the sweat for the high flyers? gabriela: there is not a concern about a bubble in most high flyers because they are justified by strong cash flow. there is a concern about position after

tesla's the market leader.esla's the way to play that long-term secular trend. 500 --tion to the us and the s&p 500, it is an eventuality. taylor: so you think that is going to happen? it seems shares were also taking a hit because that didn't happen. we thought it was going to happen a couple of weeks ago, and the moment came and went. >> i think they will post another profitable quarter in q3. again in q4. seee's little that we can that will derail that and cause them to post a loss. i think it is a matter of time. that is still a catalyst. we think that prompts a whole new wave of buying of etf's and index funds. we will be watching the headlines coming out of battery day. we will bring you updates as we have them and talk about this later in the show. coming up, can tiktok meet the demands of both the u.s. and chinese governments? increasingly seems to be no. we will take a look at the latest in washington and beijing . this is bloomberg. ♪ taylor: the resolution appears far from from. bytedance said it wou

so this is -- if anybody can do it, tesla can. but unfortunately -- and i hate to be down on elon, but he usually does not always meet the time lines of which we expects technology to be market ready. so you know. it will happen i don't know if it will happen any time soon. >> ibrahim, he can be modest on occasion he said that he thought there was, you know, little chance that spacex and tesla would ever succeed when he cashed out of his shares of paypal is this another case of him being modest he is already beating the competition. where does battery day place tesla in terms of that competition with volkswagon and others coming out with ev autos over the next few years? not just one year but a few years further than that. >> so that's the biggest issue is volkswagon. volkswagon after their issue with diesel gate had all this lead time to start pivoting towards ev so they have all this technology, all this momentum, all these models that are going to be entering the market, which some of them already have and more and more as the

of the tesla store in manhattan so tesla ones 1st of all that those tariffs should be avoided and then 2nd they also want to get reimbursed for the tariffs they've already paid so far. interest so realistic that is that test is going to change the mind of the u.s. administration remains to be seen but one thing also want to point to dollars was the better a day is that the profitability of chest is not necessarily crazy so they need the money they need to save money and sold this might be $1.00 reason or one try to bring costs down. and quite a at the tesla store in manhattan thanks so much now to some of the other global business stories making news. nike is taking a victory lap after its stock surged 9.7 percent in weapons during trading the sportswear giant says they've rise in online shopping help to offset falling sales in brick and mortar stores. u.s. banking giant j.p. morgan chase is set to move $230000000000.00 in assets to germany as it shifts its european business out of the united kingdom it's hoping to complete the move before the breck the transition period expires at the

that's what this all comes down to steph is saying -- tesla, so to speak. >> i think tesla is almost it's its own species in terms of how much market value has been added. the fact the prospect of tesla going into the s&p was even on the list of bullish factors for anybody bayi inbuying the stock absurd it's a fleeting effect at best the fact if tesla was put in on friday, everybody would say that's the top there it's a sell the news event now it's a mainstream stock. these are high free cash flow generating businesses in a very low yield, low growth world that getting revalued higher. >> josh, i didn't want to cut you off earlier. did you want to come back into the conversation here? >> no. i agree with mike. i think stephanie was kind of saying the same thing. this is its own world. what happened with apple has nothing to do with what happened with tesla even though they both announced splits this summer and carried them out on the same day. the story why tesla didn't get included, it's nothing to do with what the market cap was that's the only reason they were in the conversation.

base with tesla.e of the customers i'm sure are unhappy, but many customers are satisfied with what they have. i think it is true that not understanding the level of integration with battery manufacturing is difficult for , but tesla has a semi-vertical integration. and use the expertise manufacturing of some of their partners. but you -- in the industry, you see similar business models. in the case of algae can make the case they are providing a better experience in manufacturing. modelk it is a business that in effect, tesla pioneered and we see a number of other companies follow. alix: can you respond to that saying we hear your concerns, but this is what other companies are doing as well. >> that is extremely vague. let's focus on specifics. tesla's revenues essentially peaked in the corridor of 19. -- quarter of 2019. daya is having a battery yet does not make its own battery. a lot of people compare tesla to amazon. amazon is potentially a monopoly. ev'syear, there are 46 new coming into the mar

shares of tesla following 21%.xpected to be named to the s&p 500 on friday, but it did not happen. the decision may have rested on questions of tesla's profitability metrics. after that, g.m.'s 2 million-dollar equity stake in nikola just announced. we are joined by david. what is driving the selloff? david: tesla was expected to become part of the s&p 500. it was widely anticipated. you would have all these passive inflows from s&p index funds. 4.5 trillion funds would potentially be adding tesla. when it did not happen, a lot of the enthusiasm went out the window and the share price went tumbling down. there were some other factors. one is you had general motors and nikola, and electric vehicle start up joining forces. gm taking a stake in the company and helping get its hydrogen powered trucks and pickup trucks to market sooner. part supplier network, that is a big shot in the arm for a company like nikola. that hurt the shares as well. -- have an analyst expecting an analyst expecting part of the isay on the s&

tesla is your top holding.s going to be this decoupling between the u.s. and china. would they get hurt if this decoupling does take place and continues the take place >> what really stands out is the quality of the entrepreneurs and their ability to build it. we just haven't found anywhere else in the world outside of the west coast can you think of large business that's been felt in the uk in past 20 years. creating site on the future of u.s. relations the level of our mission long term growth investors. >> let me ask you more of thought question which is here you are, you've got to long term global growth fund at a time when global growth stocks have out performed dramatically. >> we still own 17 of the top 20 holdings we believer there's this deliver over the long term i'm hugely optimistic. partly due to covid. also just due to the application of technology the parts of the economy that's not seen that progress before. it's just a wealth of opportunities out there for the growth investor. we're optimistic

one company that benefited from green investment is tesla.e dig into its latest announcement and the reaction from shareholders next. this is bloomberg. ♪ caroline: today we are focused on public investments in a green economy and how that could benefit the current recession. tesla has got a pretty big boost back in the day when the u.s. energy department loan from 2010. tesla is an example of how successful investment could work. right now they are focused more about battery costs, so it is a letdown for shareholders today. the future is bright. joe: yesterday was battery day. investors did not seem to be that excited. stock has been getting hammered lately. batteries themselves are seen as one of the crucial technologies that needs to be cracked from a price standpoint to build in an electric d carbonized infrastructure. you see the collapse we have seen in the past decade in terms of a kilowatt hour storage of batteries and expected movement. this is the area where aggressive r&d spending, theoretically from the ur progress.could sp marc:

tesla,tock the size of that can be a major endeavor.in his perhaps one has to question whether some of these major investors have already started to do that in advance of an official announcement. it is quite clear many retail investors have been buying ahead of what many believed to be a done deal, to take advantage of the so-called s&p bump. haidi: pretty well priced. su keenan in new york. let's get a check on markets and see how the asian session will react overnight. another session for the u.s. it was tech falling. we see more rotation into value stocks for a change. the s&p pretty flat. qe stocks up 0.8%. we are a dovish speech from adrian orr yesterday. sidney futures with a gain of 0.7%. new virus cases in victoria over the past 40 -- 24 hours. the melbourne lockdown period will be extended another two weeks. restrictions extended another two weeks. we will wait for clarification on that when it comes to trading in japan, when we get more certainty on the race. weing up on daybreak asia, speak to the global head of macro. and h

tesla is on a bumpy road te

it seemed tesla came on quite unprepared. perspective, tesla announced they are going to reduce battery caused by over 50%, increase range by 50% and reduce the investment cost on battery factories by 70% these are incredible numbers. to hear something is three years out, as a long-term shareholder is changing the way electric vehicle industry works. for any traditional automaker to catch up to tesla now impossible. a $25,000 car that will have an even greater range than previous models, 400 miles let's say, will you do if you are a traditional oem and are struggling to get your electric vehicle program together? maybe you are spending money on technology like fuel cells. it will be hard to catch up to the at this point -- them at this point. emily: that said, shares down almost 16% over the last couple days. other investors may disagree with you. what are they not getting, in your view? : the stock had a good run this year, so this could be pulled back. there might have been an expectation for a shorter-term event. disruptiv

tesla is interesting because people using bubble with stocks .2 tesla. tom: a recent secondary, even with moonshot on the markets. this will not be publicly offered. it will be equity distribution and distributed by banks as tesla chooses. somewhat akin to what we saw with lesser successes.

against the tesla bear, who says tesla is going to be 19 bucks by next year per share. i don't know. that would be a big fall. >>> in the meantime, with the closing bell ringing in 49 minutes, nbc universal parent comcast making its way on to nelson peltz's binge watching list. up next, leo hindery is here. his reaction to the activist plot twist to the cable giant. when activists enter stocks, sometimes they really spike. let's see if he really stands a chance on that. "the claman countdown" will be right back. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. (groans) hmph... (food grunting menacingly) when the food you love doesn't love you back, stay smooth and fight heartburn fast with tums smoothies. ♪ tum tum-tum tum tums it's made for this guy a veteran who honorably served and it's made for her she's serving now we made it for all branches and all ranks whether they served one tour or made a career

tesla took.ciliary lliarysses -- anci businesses. will this partnership help you avoid some of the pitfalls of tesla? >> we took a different approach tha tesla didn. they can kind of do things on their own. we knew going into this that there was no way to raise that kind of capital immediately. it was important for us to build these relationships. for our big semi trucks, that's where our company came from. inhave got over 10 billion preorders for those trucks that are waiting to be built. margins are huge, really good. we knew we could not do it alone. we partnered up to do it. with the badger, we did the same thing with gm. it allows us to say billion on the factory, get to market fast, enter a supply chain that already exists. and allows us to be competitive against everybody in the world. we are going to have a truck out in a year and a half in production. >> with regard to potential sales down the road, what types of volumes are you hoping to sort of reach in the short-term, say within the f

tesla up out of the march low. plus the stocks split for tesla and apple. people wondering when the hangover would come. today seems to be the case. perhaps a little bit too far, too fast. we also have bearish action. broadcom put up a beat, but it was narrow. beating sales by less than 1%. one of the tech fires that was really not that great. and doc you sign after a really bearish day. this stock up 227% on the year, 4.6% bearish. another case of too far, too fast. investors all of a sudden taking chips off the table. taylor: tesla confirming the bear market territory. we will push that story forward and we will get more on tesla later. you pointed out that within the s&p 500 tech sector, all 71 components were down and they were down a lot. what were you noticing? abigail: the degree of the selling action. the baby being thrown out with the bathwater, there is no reprieve. every single tech stock is off. it points to the degree of rally for tech stocks. up 35% contrast. this is where all the money is going. today, not so much. the worst day since march.

a reverse conversion it has to do with the long positions on tesla traders tell me tesla has all of these exposed to and got unwound in the last few sessions if that is kind of the underlying thing single stock options, that could be a shorter term event. could it not >> it could be there is some of that that is affecting these markets. i would argue, we are following similar patterns the way this market bottom and the way the policy responded you enter the fall, which tends to be more difficult a lot of policy uncertainty drives volatility. even with what is going on, all of this is following a solid pattern. i don't want to overstate it too much to the extent that this is being driven by these types of factors, it could be more short lived. you'll see volatility persisting here ultimately, equities go higher >> you do. is that around the world, brian or just u.s. equities? >> it is around the world. the u.s. is a part of it we are seeing some signs of a recovery policy are accommodative there is a pretty good demographic. as an investor, i would say start to think about parts of the wor

>> i don't see that posing a huge competition to tesla, tesla has a preeminent technology.hat's what we need to recognize here this is the technology race, tesla recognizes that which i enter wh its enhanced technology, the car behind me is going to be unveiled later today at our world lifestream event from silicon valley. this car is going to take the technology to a whole new level again, lucid is about in-house technology and were going to benefit our customers and benefit the world ultimately with an environmentally sustainable mobility of showing you what is truly possible for electric vehicles. ashley: i was just going to get to that, you worked for lucid motors and usace going to revolutionize the market. can you give as a preview and what's the advance in technology regard to lucid? >> i think one of the headline breakthroughs is lucid air behind us has been independently validated to have over 500-mile range, this is the last arguments against edie's. i think now and kudos to tesla, it is generally recognized that driving in ev is more rewarding experience, the car

happening right now, tesla is kicking off its first-ever battery day.et to phil lebeau with more on what we can expect. >> it's going to start in a couple of minutes. they have just wrapped up the tesla annual meeting pretty much routine, nothing unusual there. all of the board-recommended votes in terms of the five proposals out there, it all went that way in terms of this battery day, really there are three things that the analysts are focused on in terms of what they're expecting to happen during this event. one, as they layout the battery developments out there, lower cell costs how much lower will it go well below $100 and will they give a dollar amount greater cell production capacity not only from tesla but also working with their suppliers will they say they are developing or have developed a million mile battery that would be a heck of a breakthrough if that's what the announcement is. the key thing people are focused on here, it's all about cost you will hear a lot of people talk about range and some of the other developments when it comes to

we have tesla's story developing, really interesting transaction of tesla., we want to look at the real estate dynamics, the business dynamics and the sheer miracle that is the empire response to the crisis of march. the lieutenant governor joins us now. she was great in the heat of the moment in march and april, clear and concise of what the plan was here and they went out and executed the plan. know the of you who statistics, the results are remarkable. lieutenant governor, thank you for joining us this morning. this is the question i get 24/7. when did the restaurants open? when do we take the risk? do offices came back -- come back? when do we take the risk, given these wonderful statistics, of getting ourselves back to some form of normal? tom and lisa, for having me on the show. the answer is we want to get back to full economic activity in the state of new york as well. we are suffering as well because we are not seeing revenue come in. we have a dramatic shortfall because of this. well is a reason, a very thought out, compelling reason on why we went

. >> i'll start with the tesla thing.term, it helps tesla trevor was very good at selling the company's stock. it's not quite clear if the kusht chairman will be as successful as hitting retail investors as excited in the long term, he is an operational guy. he comes from the world of gm. he is long steeped in automotive he knows how to run things that could be a benefit for nikola >> i remember that name, griskie. i said where do i know that name it's from gm great to you have with us as always we appreciate it >> thank you >> kelly, looks like the market is taking a little bit of a day to digest. and recoup rate aft and recuperate >> we talked to paul hickey. he said watch the 50-day moving average. at last check, april sl right around $110. there, right around that level, ty so breaks below this, you're going to get more trader talk about the down trend and for the broader market. >> all right will thank you very much that will pretty much do it for "power lunch." >> "closing bell" starts right now. don't go anywhere.

i'm not sure what makes tesla stay-at-home, so if we call tesla a big momentum stock in the directionvery, the last few days, not bad. itself% hold a stock big into not being involved in the s&p 500 but nonetheless recovering some of those losses. i have that same question and what investors are telling us is if people have to commute, they have to commute in a private car, which means they are optimistic about tesla is one of the few lower cost ev options out there. definitely when we are going to continue to watch. thank you so much for that round up. continuing our conversation about tesla. ,hen it comes to transparency tesla trails behind some of it silicon valley neighbors. the electric car is being criticized for its used of forced or betrayed for sexual harassment and racial discrimination complaints among employees. a practice that activists have asked other big tech companies like facebook, microsoft, and uber to end. joining us now is the cofounder of night a impact capital, an investor in tesla. he's asking the companies board to consider this. you make the point that tesla

less than electrifying tesla c.e.o. ilan musk presents a plan to make cheaper vehicles but his hotly anticipated announcement failed to impress investors we've also got a correspondent. also coming up the head of the international labor organization warns of a dramatic situation as the pandemic shapes more than 10 percent of all snowballs way chance. will everything really be all right so far scenes in the spanish capital madrid extend restrictions on movement businesses are finding themselves paralyzed. business for exams thanks for joining me tesla c.e.o. has a lofty goal to make electric cars a cheap enough to compete with their playing equivalents but as eagerly awaited explanation of how he's planning to do just so far failed to impress investors. 60 was nattering day had tesla shareholders and employees attended the event inside their flagship products and social distancing tesla style c.e.o. elon musk had kicked expectations into overdrive by promising insane news but the announcement of a new longer lasting batt

let's focus on tesla.ce play, ecoplay and auto manufacturing play. we have owned tesla since last year this time. what i love about tesla is they will own the intellectual property for autonomous vehicles and as we move into an e-vehicle world, those vehicles need to get from point a to point b as well as trucks. it's not just a battery story. tesla is a monster in the artificial intelligence space. i love this company although we have to be careful as we have tipped over from all-time highs. we are down 14.33% for tesla since august 31st. we want to be careful so we are buffering our positions with some equity -- excuse me, some equity volatility exposure. charles: real quick, we've got a minute to go, some of the other names that seemed to rebound fairly quickly. amazon shares up more than 100 points. apple has been reiterated almost every single day. are these names also that you would stick with with your investors? >> i'm going to stick with these names. however, i'm going to reduce my exposure. i wan

daimler,etween everybody and tesla is absolutely enormous.you think the s class will worry elon musk? he is in berlin today. tom: i am not sure about that. if you look at how tesla is trading, i'm not sure the stock is really trading on car sales. i don't think that is necessarily a bad thing for mercedes. [indiscernible] guy: tom, i think we are struggling with your audio. we are going to try to fix that and come back and try and get a little more clarity on what is happening with the audio connection and what is happening with daimler and where we are going next. we are continuing to watch what is happening with this poisoning of alexey navalny, the russian opposition leader. we have had the angela merkel statement within the last few minutes. remember, she speaks russian. she is europe's conduit to the kremlin. she has a connection to peyton but is becoming increasingly frustrated with the way the russian leader has been acting. she has been saying within the last few minutes, the world will wait for an answer in the case. it raises seriou

clearly and that was the big bet on wall street that tesla would be included into the s. and p. $500.00 pretty soon tesla reported 4 consecutive quarters of profits and that actually is one requirement to qualify for the s. and p. 500 sold now that is not to have been ng s. and p. 500 is going to make some changes in 2 weeks but tesla is not among them and the stock actually by the end of the day lost a good 20 percent in value but then also you have to look at it tesla was such a big winner in the past couple of months that the beginning of the year the stock at more than quadrupled the company at some point was worth more than the biggest u.s. bank j.p. morgan or the biggest retailer wal-mart so maybe there was really some room for a correction was the stock and then the same is true for a lot of the other big tech names and we do see it bit of a correction here already on thursday friday the nasdaq composite was down about 6 percent we lost another 4 percent now here on tuesdays so on wednesday that will be the big question mark and if the mood will ease a little bit a

it is a lot of pit falls as you go forward thereis only one musk, one tesla. next one. it is hard to find that with a moat in the ev world >> waiting on tesla's battery day. it is said it could go to 4:75 $700 coming up, better late than never. the market coca-cola would like to disrupt we talk vaccines politics aside, where are we to develop a real working vaccine more here. as a reminder, the conference is coming up over the 10th year the gentleman that runs saudi aramco, we are back right after this my name is joe. i'm a sustainability science researcher at amazon. climate change is the fight of our generation. the biggest obstacle right now is that we're running out of time. amazon now has a goal to be net zero carbon by 2040. we don't really know exactly how we are going to get there. it's going to be pretty hard. but one way or another we're going to reduce our carbon footprint to net zero. i want my son to know that i tried my hardest to make things better for his generation. ♪ i keep working my way thaback to you, babe ♪t ♪ with a burning love inside ♪

the only real decliner of note was tesla. also down 4% after falling 5% from a battery day bust failing to invest on lower expectations despite radicily better batteries >> after an extended holiday weekend, japan down, rest of the markets higher, in europe, green trading across the board germany, france all up or just about 2% back home, a busy night as congress moves one step closer to funding the government for 8 to 10 weeks. seema with us now as the sun is yet to rise over the nation's capitol. >> the house passing a bill last night that would fund the government through december and avoid a shutdown now expected to head to senate where it expects to pass with a billion for nutrition assistance for children and families and for farm aid money to prevent it from going to large oil companies. through december 11 avoiding a preelection shutdown >>> the fda plans to implement stricter guidelines to any new vaccine. guidelines will make it exceedingly difficult for any vaccine to be cleared before election day as new data sugg

was it the tesla stock sale?k it's an array of the factors. the stock splits it was this sense that there was just this really irresistible upside once the market got kind of extended and overbought, it got more so. i do think that tesla share sale was very well timed for the company. they got a $5 billion at relatively stiff valuation so i think all those things coming together pretty much said that you had an all in moment. and beyond that, i don't know how far it has to unspool. i will will say this market has mostly surprised people in the direction of kind of being stronger than expected as opposed to having a greater kind of purge than expected on the down side. >> of course not just tesla. apple is also down charlie, you think they're great companies but not great stocks tell us why. >> well, in history, there are just lots of examples of this. my favorite is in 2000 where microsoft was trading at 38 times earnings over the next 11 years the earnings tripled and the stock went down 25%. there is nothing wr

down 30 percent and just a week right well you know we've been talking about tesla for you know number of weeks a few months because it is a phenomenon and the point i've been making from day one is that it's a mean it's a mean that has a market valuation at one point over $400000000000.00 and it taps into people who trade means and these are generations e.a.a. and the millennial is on the robin of apps and other platforms and means have no fundamental value there's nothing better it's just it's a murmur ation like starlings in the sky they congregate and then they disperse and people congregate around this room aeration of a stock called tesla and now they're dispersing and there's no fundamental value to come but be that would suggest it's worth more than you know 80 percent below its current price or market cap and to show you how easy it is to create a new meaning to take the place of the tesla mame nickel nicola. they just did a deal ford and their stock went up by 50 percent based on their mean of electric cars so. you know i mean i don't know what to tell you. this was predictab

battery day -- tesla battery day.g into tesla and what means for our company of the hour. markets are not loving with a herd. the batteryutting pack at the center of the economics of electric vehicles. to 40% ofp around 25% the cost of manufacturing. well we did get innovations, they want to use things like dry electrodes, as opposed to liquid electrodes, which are more efficient. they want to start manufacturing their own cells. a contributorsuch to the run-up of tesla's stocks that there was some disappointment because not all of these innovations are things we will see next week. it is all part of a bigger roadmap for tesla toward ha lving the costs of its battery packs. we know they want to make their vehicles affordable to the masses. it is a long-standing ambition of elon musk to make evs more affordable. he talked about how the company would fail in its mission if we did not see a cheaper ev from tesla. so it was about a roadmap toward making electrical vehicles more affordable for the consumer and cheaper to p

they're down with tesla today. yet we still had another speck that was announced today this one is quantom scape. it's a 10-year-old company they are developing long range ev batteries they have some long time investors including bill gates, voek s wa voeks wagon. it's supposed to start trading in the fourth quarter. >> all right thank you very much. kelly. >>> after a monster run, are shares of tesla about to come back to earth? craig m craig, that's well below where reare now. why a neutral? >> the neutral rating is because we expect elon musk to have announcements that continue to surprise investors to the upside what we have identified ffr peop -- for people is the entry market the mini car which could be even more important a great opportunity to sell that there's good potential to make his numbers and continue to see decent growth. not a great name to be short >> here you kind of discuss the price target it kind of sums up the whole story for tesla is there's a lot of really positive fundamental factors at pl

that tesla is, worth $400 billion.hey are the apex predator in the arms race for battery and getting off liquid fuels. and so, getting three terawatts 100 billiont cost dollars, tesla can spend that kind of money. i think what elon is trying to do is we will spend $50 billion, but for each billion we spend need all of you other people to spend $10 billion or $100 billion for each one we does. that is what he says when he he says we need your help. he says we have the tech but the infrastructure needs to catch up and the gap is money. guy: so, let us talk about that. teslainvestor, i look at as you say, as a battery company. it was going to make huge leaps and bounds, but it will need an awful lot of money. that money atce risk versus execution risk that tesla does not deliver, because as you say the science is complicated, and the risk of one little bit going wrong is massive. elon things will go wrong, i think, he wants things to go wrong right now and everywhere. he wants to blow up stuff and have things melt, and bl

carsnd i have talked about and tesla's future.e cars tesla has on the road, means the more data is collected and is furthering that goal as well. investors.-term . we have always been looking five years out or more at our companies. we are happy that tesla is investing for growth and is just looking to make as many cars as it can. just: elon musk also surpassed mark zuckerberg as the third richest person in the world because of the rise we have seen in tesla's stock. what is your outlook on growth as the pandemic continues? still more uncertainty ahead. people want more private modes of transportation. people are not commuting as much. there are a lot of people struggling. we are in a recession. we do not have the money to spend on a new car. >> tesla showed the graph in its last earnings report. it is the only one that has seen growth. i am more concerned about the rest of the auto industry. if you are a tradition automaker and you're trying to shift towards electric vehicles, trying to shift toward autonomous technology and you

i'm talking about tesla, zoom. these are fabulous companies we were on two days ago, i think tyler was on and were we praising if virtues of zoom. it was up 44% that day it was up 7 fold on the year one of the things i talked about on wednesday was you have to ask yourself at that price, what's priced in. my thesis was too much good news is priced in more good news that can possibly happen over the last couple of days you have seen those two stocks, which in my opinion, got into a bubble territory, pull down quite a bit. i think there's probably a bit more to go there they got so high they sucked in buyers on their way up those buyers, some of them will be looking at losses right now and saying, what did i do? those names could be ones where selling begets selling back to your original question you look at apple and you see their raising their production for the year 5g is coming out their multiple is not egregious. i wouldn't say that by any stretch of the imagination not in a 0.6%. there's a small hand full of st

many thought it was a certainty that tesla especially after tesla posted first full business era profitthat is four straight quarters and that's the main criteria to get listed on a brighter index and the market cap above a billion dollars which tesla easily beats over $400 billion surpassing these seventh largest company in the u.s. tesla gets snubbed by the s&p 500 for more than much smaller companies like the sc, the paradise and the scratcher for someone on wall street and is sold all of the $5 billion in new stock that offered last week. a few factors in the s&p snubbed in the surprising news that gm taken 11% stake in it made pretty good money so far this year. >> were not gonna cry over the losses right now. you did mention gm steak, what is the story behind that. susan: take a look at the stock price we were up as much as 45% for nikolai this morning, gm was up as much as 9% in gm is paying $2 billion for the 11% stake in nikolai, nikola has never sold or delivered an electric truck but it does have $10 billion worth of deposit, they own future orders in gm stepping with cash, e

tesla is a major part, carl, tesla. it's funny that the people at softbank, they should be buying t-mobile excellent piece today by davidson saying there won't be a price war. so i want to take the other side of them unless they ring the register maybe they add nikola. maybe they were short tesla and long nikola. >> it's going to be a good trade at least this morning, carl, isn't it >> good to be back. >> nikola is up 28% premarket. we'll get you up to speed on this new partnership between gm and nikola to make the electric badger truck big story and one reason why tesla is down 15% premarket. back in a moment to deliver your. and the peace of mind of knowing that important things like your prescriptions, and ballots, are on their way. every day, all across america, we'll keep delivering for you. we love our new home. there's so much space. we have a guestroom now. but, we have aunts. you're slouching again, ted. expired, expired... expired. thanks, aunt bonnie. it's a lot of house. i hope you can keep it clean. at leas

tesla style on stage c.e.o. elon musk who had set expectations high by announcing insane news then announced that the company's working on cheaper batteries also driving down car prices. but it really is always our goal to try to make an affordable electric car and i think probably like that about about 3 years from now when we're confident we can make a very. very compelling $25000.00 electric vehicle that's also for your part of us . so far the cheapest tesla costs around $45000.00 euros to much facing an ever stronger competition in germany folks are going as heavily invested in evil billeted offering their eagle fi the 3 under $40000.00 euros putting pressure on musk and tesla as wildfires continue to burn across the western coast of the united states many wine producers in the region are seeing their harvests ruined in many cases their great have absorbed too much smoke to be salvaged leaving them with an unpleasant charge a taste with a typical wildfire season only just beginning the true impact on the cou

tesla style on stage c.e.o. elon musk who had set expectations high by announcing insane news then announced that the company's working on cheaper batteries also driving down car prices. but it really is always our goal to try to make affordable electric car and i think probably like that about about 3 years from now we're confident we can make a very. very compelling $25000.00 electric vehicle that's also fully autonomous. so far the cheapest tesla costs around $45000.00 euros too much facing an ever stronger competition in germany folks lock in this heavily invested in evil ability offering their eagle fi the 3 under $40000.00 euros putting pressure on musk and tesla as wildfires continue to burn across the western coast of the united states many wine producers in the region are seeing their harvests ruined in many cases their grapes have absorbed too much smoke to be salvaged heaving them with an unpleasant charge to taste with a typical wildfire season only just beginning the true impact on the country's $17

tesla and apple are big names. the tesla rally has been extraordinary.has been painful. that volatility in the tech space should not be surprising. the volatility is less s alarming than oil. the news continues to be quite negative and is undermining the recovery story. demand is not coming through as fast as people wanted. i think tech is the headline thing. it is a little distracting. i think the oil market will be a better guide of where the correction is heading. haidi: interesting. you can follow more of mark's thoughts and trading day action on the markets live blog. there is commentary and analysis from bloomberg's expert editors, so you can get exactly what is going on with your investments at any given point. let's look at pharma stocks trading in the early part of the session. we had the report from astrazeneca as well as news from u.s. and european regulators saying they are investigating that phase 3 trial that has been paused, given the news that there was a serious adverse event experienced by one of the participants in that trial. as a saf

i've got tesla. i've got apple or tesla retreated a little bit, but 495. apple at 131.dia, also an all-time high. there you go, 551. alibaba, 292, all-time highs. bang. 10:51. you know what that means. brian kilmeade with us. host of the "brian kilmeade show" on the radio. brian, i want to talk about biden, he is out of the basement, took no questions, just walked off the stage, no questions. he can't keep that up forever, can he? >> if i'm one of the beat reporters and then i'm on with stuart varney, one of the first things i will say, here's the story, here's the press conference. again it is almost intolerable for me to follow this guy around and for him not to turn around and take questions. they would be skewering trump if they blew him off two days in a row. think about what donald trump done. jonathan swan, tough interview from "axios." chris wallace, extremely tough interview from fox news. you met him at the christmas party. laura ingraham, very good interview last night. all the people he meets with on regular basis, oval office, dignitary next to him, walking

the battery technology, tesla opening it up in an open source kind of way. push on the idea that might be bad i thought apple should license ios to other phone makers. i was dead wrong isn't that the same kind of call >> i think it's a different industry i respect what you just said i think elon, it's more than just money i think he made a tweet on yul 28th to that effect. he knows that clean energy and battery and transportation is such a national security issue he knows he will return into head winds in china. he knows that national champions will be formed as important as smart phones are, the auto industry and transport is different it's politically different i'm not going to have 70% market share any way. he accepts that's the way this industry will be it's a big pie he can get a large chunk of he's not going to get the same percentage apple has of the smart phone market >> adam, thanks for your comments today we'll talk to you again soon carl >> tomorrow will be fascinating. we see tesla recover from session lows speaking of session lows, the s&p has d

downign down 12%, tesla 8%. closer to the real valuation for these companies or a fair evaluation, or could there be more to go? >> i don't know enough about those businesses to say whether this is fair or not. when i speak about valuation, the more highflying companies, a lot is predicated on what will happen in the future. what is interesting is you have a world with almost 0% interest future iscount the very low. companies which are growing discount rates, gets a very high valuations. the problem is small changes in your assumptions can lead to a different outcome in terms of what a business is worth. those small changes can relate to confidence in what the future looks like. it is hard to predict when you have a certain political environment and the unheard -- inherent uncertainty about the virus area they said to prepare for possibly distribution of a vaccine november 1. if there is a real vaccine distribution in scale before the end of the year that has a meaningful impact, if there isn't one, that has an

we are very happy that tesla came china because tesla is like apple in the early days.ate the whole market. before tesla came, china used electric vehicles for many years. when you ask them, they said they are poorly designed, poorly engineered, poor quality. aty only bought them because that time you still got a high subsidy from the government. to china started educating the market, just like apple. i think we will become one of those p mobile phone players. they are in the mainstream market. they are the company who saw the most benefit from this apple thing. declined market shares because the major market players became so strong. we believe we are one of those mainstream market players. tom: that was the founder and chairman of wn motors talking about his view on increasing 2021 by more than 10% in and talking about the tesla effect. haidi: in terms of the tesla is that shared across the industry by other players as well? >> broadly. you heard him say we welcome tesla's entry into the market. you can now produce high-quality, high-performance electric vehicles. he

i am looking at tesla. we saw a divergence today. it was stunning. tesla was down 18%.at was the market and so on. disappointment given that more mandates won't be getting into to buy s&p 500 companies. other things going on as well. at the same time, we have nikola , which has not delivered a truck yet. they saw shares soaring. see.a: interesting to investors trying to place their bets on the electric space. all uberng by 2030 vehicles will be electrified. fleetectrification of the is a question. are investors to woerle? vonnie: yes. there is a race. i want to bring in david welsh. , needed thenikola partner. i want to do start from the point of view of general motors. is this a smart move for gm to hedge its bets? david: it is because it does not cost them any money. they give their fuel cell and battery technology to nikola. this is really a giant signal for the stock market that has bought into nikola shares and given it a valuation of more than $18 billion. we are gm and our technology is better than nikola's. they are using gm's battery pack, which is for their fu

kyle mclachlan is thomas edison, the ruthless businessman whose rivalry with tesla causes sparks to flyn as a figure of mystery and magic in this eccentrically offbeat oddity. it's a strange, anarchic film — and not wholly successful. but, compared to the inert dreariness of the current war, i'll take almereyda's wild experimentations — which include tesla singing tears for fears hits — any day. that's it for this week. thanks for watching the film review. stay safe, and i'll be back next week. is he playing hopscotch...by himself? dude, he's cheating. hello. if you like sunshine, you probably enjoyed the first half of this weekend. and the second half probably won't disappoint either because it's going to be dry for most with some warm sunshine. a couple of exceptions down towards the south of the uk and the channel islands, we could, just like saturday, c1 — two showers, the many spots will stay dry. there also be quite a lot of mist and mark and low cloud for parts of scotland in northern england. that will tend to retreat toward the coast for the day, so in land spots should brighte

i don't think tesla should raise $5 billion i think they should raise $25 billion.zation they're a growth company if have to build a lot of factories over the next several years. i'm glad to see them raising $5 billion. if they really wanted to put themselves in the driver's seat for the next five, six years, they ought to raise a lot more i think ceos including mr. musk spend too much time demonstrating they don't need to sell stock, to be honest >> joe, how do you value the company right now? let's call it a $395 million market value, but in terms of what you're looking at to base your future projections on, what are the keys for you >> well, what i've tried to do, and i've written about this, is to anchor to an outcome a couple years out. yes the multiple on current year earnings is high i've said i think this can be a company doing 2.5 million unites in 2025. and then i said about valuing that, i said hey, what if the company's valued on the same multiple as apple at that point? that got me to 1500 pre split and then i went to a market perform. i ran out of runw