Tesla Has Scaled Back Model 3 Production and Costco Raised Its Starting Hourly Wage 👛

Tesla Has Scaled Back Model 3 Production and Costco Raised Its Starting Hourly Wage

Tesla

Tesla, Inc. is an American electric vehicle that makes electric vehicles, battery energy stockpiling from home to matrix scale, sunlight-based boards, and sun-powered rooftop tiles. The CEO of Tesla is Elon Musk

One of Tesla’s most popular and affordable models: The Model 3, has undergone some cutbacks internally. Staff on a Model 3 production line in Fremont were informed that their line would be down from Feb. 22 until March 7. Tesla has said capacity issues at ports and semiconductor shortages are affecting its supply chain. This is likely short-term, and Tesla doesn’t seem too worried.

Tesla shares pared a drop of as much as 6.3% to trade down 5.2% to $703.52 during afternoon trading.

Costco

Costco is an  American administrator of bargain retailers in which massive amounts of products are sold at limited costs to club individuals who pay a yearly enrollment expense. It is perhaps the biggest retailer on the planet.

Recently, Costco has announced they will increase compensation for employees to $16 an hour, outperforming many of its primary rivals. Overall, many employees do even better, in fact,  In the U.S, more than half of Costco employees make over $25 an hour.

Famous investor Charlie Munger has even commented on Costco in comparison to a fellow giant and e-commerce competitor, Amazon.  Munger said: “Costco, I do think, has one thing that Amazon does not, people really trust Costco to be delivering enormous values.”

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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