Tesla told Austin workers on its Model Y and Cybertruck lines to stay home for the week of Memorial Day, three workers told Business Insider.
The break is unusually long, the workers said. Production lines were up and running during the same period last year, they said.
The electric vehicle maker notified employees earlier this week. The workers, who are paid hourly, were told they could either take paid time off or come in for cleaning and training but would not be working on the production line.
Tesla deliveries dropped 13% year over year during the first quarter.
I expect whoever runs that is really good at trading.
Everyone that owns a S&P500 index or other similar ones owns Tesla shares. All pensions will own some amount. Collectively these pensions probably have 10s of billions or more in Tesla.
I was being sarcastic. But that’s scary.
It kinda is to be honest… The magnificent 7 as they call it, dominate the S&P500. I don’t have today’s figures, but recently it’s been as much as 30% of the index.
Any falter in big tech, or even one of these individual companies like Tesla, can have a huge impact on peoples pensions.
Edit: I guess if you still wanted to invest in something like this as a pension, but wanted to avoid a specific company, you could find a way to hedge against them to make it neutral. I don’t know if any do that though.