Tesla Update: Production Slows, Stocks Dip and Bitcoin Re-entry? (Video)

hey everyone welcome we're going to dive into what's been going on with Tesla lately a real game changer in the car and green energy space so Tesla's shares dropped more than eight percent recently which came right after they shared their financial results for the second quarter of 2023. the crazy thing is they actually did better than what Wall Street was expecting in terms of earnings and revenue but their stock still fell why well a big reason is because Elon Musk himself said that they're expecting production to slow down this quarter on top of that there's been another car recall according to Elon this production slowdown is because they're upgrading their factories worldwide he didn't give too many specifics but some people think they might be temporarily stopping production of the model 3 for some upgrades plus Tesla decided to recall nearly 16 000 Model S and model X cars made between 2021 and 2023 because of seat belt problems which definitely didn't help the stock price moving over to the energy side Tesla storage business has seen some big ups and downs they saw a huge 222 increase compared to this time last year in the second quarter rolling out more than 3 600 megawatt hours of energy storage mostly thanks to their megapak Factory in California but at the same time their solar business isn't doing so hot with a drop of 38 percent compared to last year now in crypto news it looks like Tesla might be thinking about accepting Bitcoin payments again if you remember they were accepting Bitcoin last year for a little while but stopped because of environmental reasons but it seems like they might be reconsidering that decision since they've turned 75 percent of their Bitcoin into regular money all this makes Tesla a really interesting company to keep an eye on as they're constantly moving and shaking things up in the car renewable energy and crypto worlds and that's the latest on Tesla if you like this video please give it a thumbs up share it with your friends and don't forget to subscribe for more updates catch you all in the next video