Diamonds and Dogs

6/3/21

General Motors (GM) is up 4% to a new 52-week high following plans to boost output at their two truck plants. GM said has done a better job than many rivals in securing semiconductors during scant supply worldwide and kept output at higher levels. The increase in production of their profitable heavy-duty pickups will boost profits for the rest of the year.

Tesla (TSLA) has a China problem. Tesla is down 3% on reports sales in China fell 50% last month. The electric car pioneer is grappling with a public outcry and Chinese government criticism over its handling of consumer complaints. 6000 cars have been recalled for loose brake bolts. The SEC also has issues with Tesla saying Chief Executive Elon Musk's use of Twitter has twice violated a court-ordered policy requiring his tweets to be preapproved by company lawyers,