Tesla shares drop after Elon Musk changes tack over plans to go private August 27, 2018 Tesla shares have dropped nearly three per cent as investors get to grips with Musk's U-turn over plans to take the company private. Tesla's shares were valued at $314.77 (£244) each, while in Germany they saw a more dramatic five per cent drop. Earlier this month Tesla's chief executive Elon Musk spooked investors when he [...]
Elon Musk: Tesla to remain a public company August 25, 2018 Tesla chief executive Elon Musk said last night that Tesla would remain a public company, despite previously announced plans to take it private. In a blog post on electric car company Tesla’s website Musk wrote: “Although the majority of shareholders I spoke to said they would remain with Tesla if we went private, the sentiment, [...]
Shareholder pleads with Musk to keep Tesla public August 23, 2018 A Tesla shareholder has written an open letter to chief executive Elon Musk in a bid to abandon a deal to take the company private, in which she argues the car firm's value could skyrocket up to $4,000 (£3,121) per share within five years. Catherine Wood, chief executive of ARK Invest which holds shares in [...]
Why Elon Musk is far from alone with his stock market dilemma August 23, 2018 Elon Musk, the divisive entrepreneur, has recently made headlines with the following tweet. In a subsequent blog post, Musk made clear his reasons for wanting to take his electric vehicle company, Tesla, away from the stock market. He expressed his frustration at the distraction caused by wild swings in the Tesla share price and perceives [...]
Investment Trusts can add a new dimension to a portfolio August 23, 2018 Collective investments such as unit trusts and investment trusts let you access investment opportunities and spread risk across dozens of different companies. Investors’ money is pooled together and run by a manager who buys and sells stocks and shares on their behalf to create a diverse portfolio. While unit trusts and OEICs are structured as [...]
Saudi Arabia denies reports the $2 trillion Aramco float has been cancelled August 23, 2018 Saudi Arabia’s energy minister today denied reports that plans to float part of its state oil and gas company Aramco had been cancelled. “The government remains committed to the initial public offering of Saudi Aramco, in accordance with the appropriate circumstances and appropriate time chosen by the government”, Energy Minister Khalid al-Falih said in a [...]
Tesla shares rise as Musk takes a back seat and Morgan Stanley joins the rumoured Tesla adviser list August 21, 2018 Tesla's share price rose as much as five per cent in early trading today after Morgan Stanley hinted at its possible involvement in discussions surrounding a transaction to take the company private. The brokerage today removed its rating and suspended equity coverage on Tesla, signalling a potential move to join Goldman Sachs as an adviser [...]
Crispin Odey: Banks ‘luring investors to their deaths’ like fading department stores August 20, 2018 Renowned hedge fund manager Crispin Odey told investors in his hedge fund that the banking sector giants now resemble struggling department stores, luring investors to a sticky end with an outdated business model. Banks' profits are under threat from smaller fintech rivals who have targeted areas where lenders have traditionally charged large fees, Odey said. [...]
Tesla short-sellers have the last laugh August 19, 2018 Tesla short-sellers have made a bumper $1.2bn (£940m) paper profit since the car company’s colourful chief executive Elon Musk said he is considering taking the business private. Despite making some initial gains in the immediate aftermath of Musk’s tweet on 7 August, in which he declared that funding for the move had been secured, the [...]
Tesla shares fall as analysts cast doubt on Model 3 profitability August 17, 2018 Tesla's share price slumped as much as eight per cent in trading today, after a note was published this afternoon expressing concern over the fate of its Model 3 sedan. UBS analyst Colin Langan said Tesla's Model 3 will fail to produce better profit margins than a standard BMW sedan due to miscalculations on manufacturing costs. [...]