🚀 Fear Mounts as Musk's Pay Vote Looms!

Hey S3XY 🧤, Tesla has recently released a compelling video on 'X', urging shareholders to vote in favor of Elon Musk's compensation plan. The video concludes with a powerful message: "The present and future value creation that Tesla is poised to deliver for all of you is at risk, we need your vote. Protect Tesla."

Recently, a long-time Tesla bull and prominent content creator has reduced his TSLA position by 20%, citing concerns that the compensation plan may not pass. This investor fears that Musk's potential departure could trigger a cascade of negative effects on Tesla's future.

Additionally, current trading volumes are hovering around 60 million shares, significantly lower than the daily long-term average of approximately 100 million. As a high-beta stock, such a dip in volume indicates that investors are in a 'wait and watch' mode, anticipating the outcome of the crucial vote.

And some other highlights from today’s letter 📨:

• Why one bull is selling his TSLA?

• Britain passes important self driving law.

• Xpeng results are out.

• Renault’s autonomous bus.

Let’s take a dive..👇🏻

$TSLA CHART

TESLA BULLETS

Power of community: “We have received many requests to be able to vote; Normally, we do not offer the opportunity to vote at general meetings outside the EU, but we have made an exception in this case”. - Avanza Bank, Sweden on Tesla shareholder vote.

Electric trucks: PepsiCo is taking delivery of additional 50 Tesla Semi trucks at Fresno California facility.

Chips: TSMC has started producing Tesla's next-generation Dojo AI training tiles with its Integrated Fan-Out System-on-Wafer technology, aiming for a 40x increase in computing power by 2027.

Fearful: Long time Tesla bull ‘Warren Redlich’ starts dumping his Tesla stock, know here why.

Numbers: Tesla China new vehicle registrations for week May 13 -19 came in at 13.8k units and is quickly closing in gap with last year.

Run rate: Tesla in now producing over 200 units per day of CyberTruck.

Safety: FSD perfectly handles sudden front vehicle manoeuvre into the lane to avoid the accident.

New note: Adam Jonas of Morgan Stanley releases new Tesla note citing ‘Elon Musk needs Tesla more than ever’.

Self driving: Tesla removes FSD ‘nag’ in latest v12.4, though no hats/sunglasses please.

WHISPERS

Dan Priestley, Sr. Manager, Semi at Tesla; talks all about charging, customers, challenges and more.

Lei Jun of Xiaomi visit NIO headquarters.

Gold!

Tesla releases a new video asking shareholders to vote.

Robotaxi sneak peak!

INDUSTRY FILES

Regulations: Self-driving vehicles could be on British roads in just 2 years as new law receives Royal Assent.

Leading: Along with EV industry, China is clearly dominating battery market as well.

Cash flow: Li Auto, the Chinese automaker, reported negative free cash flow of $700 million for Q1 2024.

Protests: Last week, a strike occurred at the BYD factory in Wuxi, Jiangsu province, China over work shifts and schedule.

Results: Xpeng reported revenue of $910 million in the Q1, up 62.3% from the same period in 2023 and down 49.8% from the Q4 of 2023.

Handshake: Renault is partnering with WeRide to put this Level 4 autonomous shuttle bus into production.

Recalls: The top U.S. auto safety regulator has opened a recall query into Volkswagen’s electric ID.4 units this week, after complaints of vehicle doors opening unexpectedly when the vehicle is driving.

Autonomy: Xpeng CEO promises L4 autonomous driving by 2025.

Profits: Huawei's automotive business has already turned profitable in the first quarter of the year, an executive said, with the asset-light operating model bringing help.

THAT’S THOUGHTFUL

How to have anything you want.
👇🏻

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