In a weird coincidence, Tesla stock drops after socialist victory in Bolivia

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Let's examine the timeline. Maybe we can unravel the nature of this mystery.

On Nov. 4 President Morales moved to cancel the December 2018 agreement with Germany's ACI Systems Alemania (ACISA) to mine Bolivia's lithium reserves. Just a week later Bolivia had a right-wing coup.

Among other clients, ACISA provides batteries to Tesla; Tesla's stock rose Monday after the weekend.

The Wall Street Journal said the coup represented a “democratic breakout in Bolivia.” The Trump administration praised the military for “abiding by its oath to protect not just a single person, but Bolivia’s constitution”.

On January 1, Tesla stock was priced at 93.81
Bolivia’s high mountain deserts—the Salar de Uyuni—have by far the largest known reserves of lithium.
In another coincidence, Elon Musk, the head of Tesla, wants to build an electric car factory in Brazil. His cars require batteries, and those batteries require lithium.

In a bizarre tweet, the Bolivian entrepreneur Samuel Doria Medina wrote that since Elon Musk and Jair Bolsonaro will discuss the Tesla plant in Brazil, they should add to this initiative the following: “build a Gigafactory in the Salar de Uyuni to supply lithium batteries.” Doria Medina is not just an entrepreneur. He is the vice-presidential candidate alongside the “interim president” Jeanine Áñez for the May 3, 2020, Bolivian presidential elections. Áñez came to power only because of the coup d’état against Evo Morales in November 2019. Doria Medina’s welcome mat to Tesla should, therefore, be seen as having the full authority of the coup government behind it.

On May 4, Tesla stock was at 152.24
Then on July 25, Elon Musk famously tweeted, “We will coup whoever we want! Deal with it.”

We could all see how Elon felt about it because, well, he told us loud and clear. He thinks that he deserves everything in the world, like it’s his right. Like it’s his manifest destiny.

Elon could have kept his mouth shut, but why? He clearly felt untouchable. He is a billionaire, after all. He has been rewarded richly for every loud idea he’s had thus far.

On the following business day, July 27, Tesla stock jumped to 307.92
It seems Tesla investors are pro-coup and anti-democracy too.

On October 14, Tesla stock price peaked at 461.30.
In yet another coincidence, this was the day after a news leak of a possible second right-wing coup in Bolivia in order to prevent democracy from returning to Bolivia.

Tesla stock has dropped 40 points since the second coup never happened..

I'm sure the lithium had nothing to do with Tesla investor's respect for democracy and sovereignty. Because capitalism equals freedom and socialism is scary, doncha know.

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Comments

coinkadoink as in pigs swallow coinage?
Methinks not so much the relative association
of stolen earth goods to political Wall Street profits
so much as the capitalist marketeers hope to have the
government insure the gravy train.
By whatever means. Watch as the us oligarchy
overturns another regime for national security.
Socialism scares the shit out of the rulers.

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19 users have voted.

@QMS
“We will coup whoever we want! Deal with it.” has got to be one of the most arrogant statements our ruling class has ever made.
If Biden had said it, the media would have called it a "gaff".
Yet, I respect the honesty of it. By honesty, I mean like a thief that tells you to your face, with pride, what he's stolen from you.

BTW, MAS literally couldn't have picked a better opponent to run against. If the socialists didn't win in a landslide then something was seriously wrong.

As [inaudible] Carlos Mesa government, where he took — he was elected as vice president in 2002, together with the widely hated former President Gonzalo Sánchez de Lozada, who fled to Miami in 2003 after trying to privatize the country’s natural gas and after carrying out a series of massacres in the Indigenous city of El Alto. He flees to Miami. Carlos Mesa takes power, 2003.

And 2003 to 2005 is a period of complete paralysis in Bolivia, because Carlos Mesa pledges to not use repression, to not mobilize the military against protesters as his presidential partner did. However, he insists on the plan of privatizing the country’s natural gas and exporting it through the port of Chile. And that, of course, meant that the social movements, some of which led by Evo Morales, continued, continued their general strikes, continued popular uprising, and the country became ungovernable. And the economic crisis became extreme, as I said. The IMF were brought in to — IMF loans had been taken out to pay for the basic costs of the state, not for investment, but to pay public sector salaries — as I said, the basic costs of the state. So, Bolivia was in an incredibly disastrous moment in the two years in which Carlos Mesa ruled, with the backing, I should say, of the United States.

So, people have that in their memories. But people also, you know, lived through, experienced the past 14 years under Evo Morales in which the size of the economy tripled, the incomes of most people tripled at the very least. For those on minimum wage, it skyrocketed even further. Unemployment was the lowest in the region. And Bolivia had the highest rate of GDP growth than any other country in the region.

What's amazing is that Mesa got ANY votes.

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24 users have voted.

@gjohnsit class to kill the other half" by Gould, but who remembers him? Viva!

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17 users have voted.

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19 users have voted.
edg's picture

@gjohnsit

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7 users have voted.

@gjohnsit Unless his Trumpian bungling of his nation's COVID-19 epidemic drives him from power just as (hopefully) Our Trump will go.

Not sure about the political situation in Peru or Ecuador.

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4 users have voted.

Bolivia should cancel any lithium contracts with US companies. Just that simple. Shove it right in their faces. If that's too risky, then make 'em pay through the nose for it.

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15 users have voted.
Bollox Ref's picture

that Elon Musk.

When he's not insinuating that cave rescuers are pedophiles, he's off advocating stealing the natural resources of others.

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19 users have voted.

Gëzuar!!
from a reasonably stable genius.

@Bollox Ref Douchenozzle of the decade. Step up, Time magazine!

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10 users have voted.

@Bollox Ref his plan to nuke Mars to change its climate.
The guy has never been a bastion of sanity.

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8 users have voted.

They say that there's a broken light for every heart on Broadway
They say that life's a game and then they take the board away
They give you masks and costumes and an outline of the story
And leave you all to improvise their vicious cabaret-- A. Moore

dystopian's picture

and such a coincidence. Of course we all knew it was a coup all along. That the people were able to claw back and recover is spectacular vindication for Evo Morales. Of course all the media here cheered it on, like Iraq, VietNam, Syria and everywhere else they smell some good ol' disaster capitalism. When I saw that Musk tweet "we'll coup whoever we want" I was so vehemently appalled, he will never recover from speaking such evil. It sounded like Hitler to my ears, or Cheney. Musk stinks!

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21 users have voted.

We cannot solve our problems with the same thinking we used when we created them.
Look deep into nature, and then you will understand everything better.
both - Albert Einstein

In fact, Tesla intends to get its lithium from properties it owns in Nevada as it ramps up in-house production of batteries. Currently it gets batteries from Panasonic, CATL (China) and LG Chem (Korea).

Fact is, lithium is a VERY common element. In fact, almost everything else that goes into rechargeable batteries is more difficult to source.

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2 users have voted.

@Jonathan Larson It's nice that lithium will be mined in Nevada (or as "nice" as mining can ever be), but Bolivia is still a vital source for lithium rght now. And Musk is still an arrogant prick.

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OzoneTom's picture

@Jonathan Larson
Surprising since it seems a pretty dry place, but cannot compare to the high deserts in South America for the high concentrations of brine which reduces cost of production.

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8 users have voted.
mimi's picture

edited: Why are the Germans such devoted slaves to allow Musk to build his shitty company in Brandenburg? Because Germany Rocks. We should rock too. I bet you he can't dance and has no rhythm. Who cares anyway.

Nor do we need those electric cars. We do not need any more cars here. Autobahns are overflowing with cars. Cars cause the most useless traffic jams on our Autobahns.

It shows that I am not a happy camper here in Germany no more. Sorry for my words.
I won't even get an e-bike, I get a bike where I have to use my muscles. So much for e-stuff ranting.

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5 users have voted.

"heh, as they say, if you don't dig the blues, you got a hole in your soul" - JS

I love Teslas, but any time an end-stage capitalist gets a comeuppance, I smile. Plus, this story is told in such a bitingly funny way.

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9 users have voted.