At the close of trading on the New York Stock Exchange on Monday, July 13, Tesla Inc. stock price fell to $1497 per share from a record $1794 recorded in the first hours after the trading opened.
Consequently, the company’s capitalization in just a few hours fell from $321 billion to $277 billion.
Tesla’s previous rise in value happened due to the publication of the company’s report on the growth of car sales in the second quarter of 90,650 instead of 72,000, which was forecasted by stock analysts.
Demand for the stock was also fueled by rumors of Tesla’s rapid listing on the S&P 500.
On June 1, Tesla shares exceeded $1,000 for the first time. Then their value has increased by 70% over a month. At the same time, the average price of Tesla shares expected by stock analysts in 2020 is $805.
According to Morgan Stanley analyst Adam Jonas, the value of Tesla shares is overvalued by 100%. “To justify the current share price, the company should sell 4 million cars a year. It has sold only 500,000 so far,” he told The Observer.
Electric car maker Tesla has agreed with brokerage companies to sell its shares for a total of $ 5 billion. This was reported by Bloomberg, citing documents submitted to the US Securities and Exchange Commission (SEC). The shares will be sold at the market price. This is the third sale of Tesla shares in 2020. […]
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Ryanair has made a multibillion-dollar order for a Boeing 737 Max, reports the Financial Times, citing the head of the carrier Michael O’Leary. This is the first agreement with the plane after the investigation of two plane crashes involving it, which in 2018 claimed more than 300 lives. Vertical Research Partners aerospace analyst Rob Stallard […]
Shares of BlackBerry jumped sharply on auction on December 1 after the news of a partnership with Amazon Web Service. TechCrunch writes that together they will develop and sell a service for connected cars – IVY platform. Stock quotes at the beginning of trading on the New York Stock Exchange (NYSE) rose by 35%. The […]
Tesla CEO Elon Musk wants to turn the Tesla plant near Berlin into the world’s largest factory for the production of batteries for electric vehicles. The businessman stated this on Tuesday, November 24, speaking via video link at the European Conference of Battery Manufacturers. The plant near Berlin will be one of a kind as […]
Shares of US electric car manufacturer Tesla continue to rise sharply amid news of the company’s future accession to the S&P index. On Tuesday, November 24, the market value of Elon Musk’s company crossed the $ 500 billion mark for the first time. Tesla shares are said to have risen nearly 550 percent this year, […]
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HOW IT ALL BEGAN Sweden, the homeland of the Lantmannen concern, has rich traditions of farmers unions. Those unions were established on the principles of democratic governance, quality control, fair profit distribution. The Lantmannen company was set up on the basis of one of those principles in 1880. Over 100 years, the company has been […]Next
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American investor Michael Burry, who predicted the financial crisis of 2008 and became the prototype of one of the characters in the movie The Big Short, made a huge bet on the fall of shares of Ilon Mask`s Tesla, Reuters writes. As of March 31, Bury’s Scion Asset Management investment fund had an option to […]Next
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In London is being heard the case about the manipulation of European interbank rates Euribor. The defendants are 11 former employees of large financial companies such as Deutsche Bank, Barclays and Societe Generale. This trial is characterized like atypical, because for the first time in the case of manipulation of the bidding Euribor defendants are […]Next
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US International Business Machines Corp. (IBM) slightly increased its net profit in the third quarter of 2020, despite on the declining revenue in the context of the coronavirus pandemic, forcing businesses to delay implementation of projects to preserve capital. According to the press release of the company, Net income in July-September was $ 1.7 billion, […]Next
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Johnson & Johnson was one of the first companies to devote large resources to the fight against COVID-19 and vaccine development, and was one of the first to receive support from the US government. However, J&J is not currently one of the companies, who conducting clinical trials of its final vaccine candidates COVID-19 in humans. […]Next
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