$TSLA Have been seeing a lot of people touting shanghai opening back up as reason for a monday run. Why do you think the factory opening back up will affect the stock price meaningfully? Will Coronavirus be suddenly solved? First of all, Shanghai gigafactory is a small portion of Tesla's manufacturing. The Wednesday selloff wasn't because of Shanghai; everyone was expecting a shutdown there since the earnings call. It was because it bubbled up from $650 to $960 off zero news. Second, the opening, which I believe is true but misleading, would most certainly not mean full production. Even if you somehow were able to get all the workers there in the midst of the virus (not likely), all the materials and supply lines are screwed because of the quarantines. China's entire economy is screwed for the near future. Lastly, everyone knew that most likely tesla's factory would 'open' on monday. If y'all knew about it since friday morning, you can bet wall street knew about it. It's priced in.
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