The Semiconductor Chip Glut

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In his podcast addressing the markets today, Louis Navellier offered the following commentary. EV IronyTesla Inc (NASDAQ:TSLA)’s planned 8-day shutdown of its Shanghai plant is being extended due to rising Covid cases in China. The company now has sufficient inventory of its electric vehicles (EVs) and continues to offer discounts to try to sell its EVs amidst increasing competition in China. Furthermore, the U.S. tax incentives to buy an EV have expired for Tesla in 2022, so in the U.S., Tesla is offering $7,500 discounts on Model 3 and Y EVs, plus 10,000 miles of free charging during Decembe…

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