Tesla’s Stock (NASDAQ:TSLA)
Fire at Tesla (NASDAQ:TSLA) Gigafactory Berlin on Monday reportedly prompted calls for a production halt, as the German news outlet Märkische Oderzeitung. As a result, Tesla stock is down today.
The report states that recycling materials at the business caught fire at about 3:30 CET. It was still burning as of 7:00 AM CET, although firefighters were progressing. More than 50 firefighters worked to extinguish the fire by 7:45 AM CET, and reports indicate that the situation was under control within hours.
As a result, parties concerned with protecting local water supplies and the environment reportedly demanded that output at the plant be halted. The fact that the Gigafactory is located in the drinking water protection area has been the focus of many of the locals’ objections. Concerns about harmful compounds leaching into the groundwater due to the fire have been raised.
Steffen Schorcht, a member of the local environmental protection group Bürgerinitiative Grünheide, said, “Our worst nightmares have come true.” Until the root reasons and contributing factors are identified, and all necessary safety precautions in the water protection area are taken, we insist that production be halted.
Elon Musk, CEO of Tesla (NASDAQ:TSLA), is expected to spend the next few days answering questions from Twitter’s (NYSE:TWTR) attorneys in preparation for a trial in October that will determine whether or not he must fulfill his $44 billion pact to acquire the social platform after initially trying to back out of the deal. As a result of the deal, Tesla’s stock is in the Red.
There will be no outside observers at the closed-door deposition scheduled for Monday, Tuesday, and possibly Wednesday.
It was still unclear if Musk would make an in-person or video appearance on Sunday night.
The trial will begin on October 17 in Delaware Chancery Court and is expected to continue for no more than five days.
With 98.6% of Twitter shareholders having approved the deal, any settlement of the matter would require another round of shareholder approval.
Wells Fargo has increased its optimism on the Twitter-Musk sale since an expert call last week.
Featured Image- Megapixl @ Colour59