DEBATE: Should we be worried about a tech bubble? September 2, 2020 Should we be worried about a tech bubble, particularly in emerging markets? Tatjana Puhan, managing director and deputy chief investment officer at TOBAM, says YES. Over recent years, we see a clear trend of investors becoming exposed to higher concentration risk in specific sectors like technology. Having represented already a considerable risk exposure in major [...]
Tesla seeks to cash in on record run with $5bn share sale September 1, 2020 Tesla today said that it would sell $5bn (£3.7bn) in new shares as the electric car maker seeks to cash in on a record rally which has seen the stock rise nearly 500 per cent this year. According to a filing to the US Securities and Exchange Commission, the new shares will be sold “from [...]
Tesla shares surge again on hopes of S&P 500 listing July 13, 2020 Shares in electric vehicle firm Tesla continued their meteoric rise today, jumping another 14.6 per cent to hit $1,770.33 this afternoon. The new increase means that the firm’s shares have increased over 650 per cent in the last 12 months, when they were trading at $233. Since beating expectations for vehicle delivery numbers at the [...]
Elon Musk labels lockdowns ‘fascist’ as Tesla offsets automotive slump April 30, 2020 Outspoken Tesla chief executive Elon Musk labelled the US’ coronavirus lockdowns as “fascist” as the firm surprised investors with another profitable period of trading despite the current market disruption. Speaking on a conference call last night, Musk said that the measures posed a serious risk to Tesla’s business and said he did not know when [...]
Tesla to face shareholder lawsuit Elon Musk’s ‘funding secured’ tweet April 16, 2020 Tesla boss Elon Musk must face a shareholder lawsuit over a tweet in which he stated the company had secured funding for a go-private deal worth $72bn (£58bn), a judge has ruled. Shareholders have filed a suit alleging the billionaire founder attempted to defraud them with a 2018 tweet that read: “Am considering taking Tesla [...]
Tesla to furlough workers and cut salaries due to coronavirus April 8, 2020 Tesla will furlough all non-essential employees and roll out salary cuts after it was forced to shut its factories in the US due to the coronavirus outbreak. Employees who cannot work from home and have not been assigned to critical work will be furloughed, according to an internal email seen by Reuters. Workers who are [...]
Tesla shares rise as it unveils plan for $2bn stock issue February 13, 2020 Shares in Tesla rose this afternoon after the electric car maker said it would raise roughly $2bn (£1.5bn) by issuing new stock. Idiosyncratic chief executive Elon Musk will personally purchase up to $10m of shares in the new offering, while Oracle founder Larry Ellison, who sits on Tesla’s board of directors, will also buy up [...]
How can Elon Musk keep Tesla on the straight and narrow? February 11, 2020 After a rough start to the year, Tesla ended 2019 by delivering on a promise to Wall Street. The pledge made in the summer of 2019 by Tesla chief executive Elon Musk was to return to profit after months of losses, a string of negative headlines — including his forced resignation as chairman in 2018 [...]
Fresh blow for Tesla short-sellers as shares fly past $900 February 4, 2020 Investors betting against Tesla were dealt a further blow this afternoon as the firm’s share price jumped more than 17 per cent in early trading. The electric car maker’s stock was up as high as $921 shortly after markets opened, before dipping to just above the $900 mark. It is the latest spike amid a [...]
Elon Musk stripteases at launch of Tesla SUV at new China factory January 7, 2020 Elon Musk left his army of followers hot under the collar this morning, when he posted a video of himself seemingly beginning a striptease on stage at the launch of Tesla’s Model Y in Shanghai. The Tesla boss was at his firm’s new Gigafactory in the city, when he started dancing in front of the [...]