Mustang Mach-E or Mach-Elon?
Hey Snackers,
A mafia fugitive was caught by Italian police thanks to his YouTube cooking show. He was just trying to make a nice spaghetti bolognese...
Stocks climbed to record highs (again) yesterday, as investors reacted to the surprisingly awesome March jobs report. Job gains were strongest in leisure and hospitality — a strong sign of economic rebound.
ICYMI... Georgia made big changes to its voting laws — and they've received a lot of pushback. In case you didn't have time to read the 98-page law, we've highlighted a few key changes:
Back to the pushback... While GOP lawmakers say the law is necessary to restore confidence in Georgia's elections, Democrats say it'll restrict voting access for underrepresented voters — especially people of color. Now, dozens of execs at America's biggest companies are speaking out against the law, including: Apple, Microsoft, and American Express. Patagonia compared the laws to Jim Crow bills. And Georgia's biggest corporations are getting vocal:
Silence is no longer an option. Neither is inaction... Last year, we wrote that 2020 was the year when “no comment” was no longer an option for companies. While 2020 demanded a position, 2021 is demanding action. 72 Black execs have called on corporations to oppose voting restrictions — which have been proposed in dozens of other states, too. The MLB said it would move the All-Star Game from Atlanta in protest. And companies like Dell and American Airlines are already condemning a restrictive voting bill that's advancing in Texas. Companies' action against voting restrictions could set new expectations for how they respond to other key civic issues, too.
This just in: a S3XY update... Tesla delivered a record ~185K cars in the first three months of the year, beating expectations. That's more than double the # of cars it delivered in the same quarter last year (when Covid hit and factories stalled). Despite global supply chain shortages, it's also slightly up from the previous record-breaking quarter, thanks to strong demand from China. Shares jumped 4% on the news.
Profit is getting Musk-ular... so is competition. Before 2020, Tesla was struggling to post a profit. In 2020, it had its first full profitable year. Now, it's expected to post a $470M profit for the first quarter of 2021 (earnings drop in a few weeks). While Tesla's profits are solidifying, OG carmakers’ electric lineups are, too. GM, Ford, Volkswagen (Voltswagen?), and Renault have been leveling up their EVs... and stealing market share from Tesla.
Tesla has reached escape velocity... Now that it's profitable, its next challenge is battling rivals. For years, Tesla faced virtually no competition. Now the competition has never been tougher... so it's shifting focus. This year, Tesla is aiming to open its first factory in Europe — aka: the world's largest EV market — to gain a stronger foothold against global rivals.
Authors of this Snacks own shares of: Tesla, Delta, and GM
ID: 1591372