JUMP REPORT

The report released on Monday showed registrations in California, a bellwether for the electric-car maker and its largest U.S. market, recovered from a second-quarter low of roughly 9,800 vehicles to around 16,200 vehicles in the three months ended September. California registration for Tesla’s Model 3 mass-market sedan, which in the past accounted for more than half of total registrations, fell 60% on a yearly basis to 6,500.

Futures rose on stimulus deal hopes after stocks sold off on stimulus deal pessimism. Yep. Also, Apple has a new buy point, but with flaws. Several other giants are forging handles.

Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. It sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. It also makes solar roofs and plans to enter the HVAC market. The Tesla Roadster debuted in 2008, Model S in 2012, Model X in 2015, Model 3 in 2017, and Model Y in 2020. Global deliveries in 2019 were 367,656 units. Tesla went public in 2010 and employs about 50,000 people.

Asian stocks came under pressure on Tuesday as a deadline for U.S. lawmakers to pass an economic stimulus bill approached and record daily coronavirus infections in Europe ignited concerns about more severe lockdowns. Chris Weston, the head of research at Melbourne brokerage Pepperstone, attributed the decline to worries about Washington’s stimulus package and positioning ahead of the Nov. 3 U.S. presidential election. “Do you really want to hold those exposures into what could be a volatility event?” Weston said.

(Bloomberg) — Piedmont Lithium Ltd., which recently struck a five-year raw-materials pact with Tesla to develop a lithium project in North Carolina, is issuing shares in the U.S. as attention in the battery materials space grows.The Perth, Australia-based company said it will offer 1.5 million American Depositary Shares, with each representing 100 of its ordinary shares, according to a regulatory filing. “Proceeds from the offering will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, further exploration drilling and ongoing land consolidation, and for general corporate purposes,” the company said in the filing.Piedmont said in September that it will supply spodumene concentrate, a lithium raw material, to Tesla equating to about one-third of the miner’s planned supply for an initial five years. The announcement came after Tesla’s so-called battery day, during which the electric-car producer laid out plans to ramp up battery production as it churns out more automobiles to meet a coming surge in demand.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.