Tesla Coronavirus Cases Reported as California Increases Restrictions

Rob Maurer

Throughout the United States, new COVID-19 positive test cases have continued to rise in recent weeks and daily death counts have also started to rise again. As cases rise, Tesla's home state of California has started to place more restrictions on businesses. On Sunday, it was announced that effective July 13, all counties in California were required to close indoor operations in sectors like movie theatres and dine-in restaurants. In addition, the state has directed select counties to undertake further safety measures. Alameda County, where Tesla’s Fremont factory is located, was added to California’s County Monitoring List on Sunday.

“Counties that have remained on the County Monitoring List for 3 consecutive days will be required to shut down the following industries or activities unless they can be modified to operate outside or by pick-up: Fitness centers, worship services, protests, offices for non-essential sectors, personal care services (like nail salons, body waxing and tattoo parlors), hair salons, barbershops, and malls.”

None of these restrictions would seem to impact Tesla at this time, but the trend is worth watching closely for (TSLA) -Get Report investors.

Separately, Electrek has reported on Tesla’s coronavirus tracking data. It appears that Tesla has had ~130 positive cases and ~1550 affected cases among company employees. This may imply a 1.3% positive test rate among the roughly 10,000 employees at Tesla's Fremont factory. For reference, the same metric for total Alameda County stands at 0.5%.

It’s worth keeping in mind that Tesla employees might have undergone more comprehensive and regular testing compared to the general population. Tesla also likely employs the age groups with the highest incidence of cases per 100,000 of population in Alameda County ranging from 0.62% - 0.75%.

For additional analysis on the situation as well as other topics, please see the included video.

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Writing Assistance by Pranshu Agarwal.

Disclosure: Rob Maurer is long TSLA stock and derivatives.