The Tom Nash Daily Show
Added 2022-03-22 16:47:30 +0000 UTCTesla opens Giga Berlin factory in Germany. Germans will make the best EV but not exactly like they thought. Elon Musk to officially open German factory today as Tesla looks to ease demand pressure with 500K cars per year – model Y and 3. $TSLA stock did 20% in the past week. Thanks to the haters and bears for selling to us. Conclusion: don’t bet against the U.S. economy and the dollar and mainly don’t bet against Elon. Crude oil steady at $112 – Russia/Ukraine concerns, sanction and supply issues. Re-opening increased demand. Negative catalysts are China slowdown and OPEC being pressured by the US, Germany and Japan to increase production. The flip side is that China likely to handle Covid this time and OPEC is not likely to help given the bad relationship with Biden, so price should stay elevated. Buffets purchase now seems like a brilliant move. Despite FED chair Powell taking more hawkish position, stocks are still holding on. Powell was trying to get the market to do his job. It didn't work, why? Lost credibility, markets are used to fed scares, already pricing in higher than 2% since its evident. Historically still cheap. Alibaba (NYSE:BABA), JD.com (NASDAQ:JD), Baidu (NASDAQ:BIDU) and other Chinese U.S.-listed tech firms have been told by Chinese regulators to prepare for more audit disclosures. What is there to prepare for if they are compliant with US standards? Also, (BABA) said it would enhance its buyback program to $25 billion, up from $15 billion to boost its share price.
