Your Monday Blip 1/4/21

Your Monday Blip 1/4/21

Stocks opened higher then promptly fell over 600 points before finally closing with a loss of 382 at 30,223 on heavy trading volume. Todays action appears to be political in nature as the Georgia special runoff election is coming up and gurus are saying it could increase market volatility. Mining stocks did well today as raw material prices continue to show strength.
Tesla shares bucked the trend today even as the company came up short of its goal to deliver 500,000 vehicles in 2020. They only delivered 499,550 which is not bad considering the factory was shut down during the pandemic. 4th quarter deliveries came in at 180,570 beating the previous record by 40k vehicles. 2021 will be an interesting one for Musk and company as Tesla expands its Chinese factory while battling piracy of its design all while working to bring factories in Berlin, Germany and Austin, Texas online. Tesla plans to begin deliveries of the Model Y in China later this month and continues to make progress in grid scale battery deployment, rooftop solar not to mention its foray into nickel and lithium mining. The interesting thing about the evolution of this company is the integration of energy, mining and transportation meaning that Tesla is a car company, an energy company and a natural resources company.
The Puget Sound Business Journal is reporting that Amazon is purchasing 7 retired Delta 767 passenger jets with plans to convert them to freighters which will operate out of Amazon’s new $1.5 billion cargo hub at the Cincinnati/Northern Kentucky International Airport. Terms of the deal are not known but Delta retired the jets from service in June and took a $180 million charge.

Comments are closed.