The Timing of Trump's China Announcement Is Incredibly Convenient for Tesla

Tesla released first-quarter earnings on Tuesday, revealing that its net income had plummeted by an astonishing 71 percent since the first quarter of last year. Sales are dropping precipitously around the world, in large part due to Tesla CEO Elon Musk's wildly controversial behavior. Yet, the company's stock rose more than seven percent Wednesday morning, indicating early investor optimism. Why? One undeniable factor is Musk promising during Tuesday's call that he'd be spending more of his time leading Tesla — and less time gutting the federal government — which is something investors have been begging him to do for a while now. But another extremely auspicious factor: president Donald Trump's announcement that he's planning to be "very nice" to China, hinting at a possible U-turn in the United States' disastrous trade war. The announcement couldn't have come at a more convenient moment for Tesla, dropping after the disastrous revenue figures on Tuesday but before markets opened ... Read full article.