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fund that the banking sector giants now resemble struggling department stores, luring investors to a sticky end with an outdated business model.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. [...]
Time to face the music: US regulator wants answers over Musk tweet August 17, 2018 Tesla shares fell tonight on reports that the US markets regulator is seeking to question the car giant’s executives over boss Elon Musk’s plan to take the company private. The Securities and Exchange Commission (SEC) has sent subpoenas to Tesla as part of its investigation, Fox News reported. Tesla’s shares dropped four per cent on the [...]
Tesla braced for a big hit from legal claims following Musk’s Twitter gaffe August 16, 2018 Tesla’s legal team is bracing itself for a number of potential legal claims following an uproar caused by Elon Musk’s disclosures on Twitter that he was considering taking the company private. Fox News reported that the legal team for the controversial CEO was preparing itself for the costs of private litigation to exceed any fine [...]
Tesla boss says Saudis want to support buyback August 13, 2018 Elon Musk said today that he is in talks with Saudi Arabia’s Public Investment Fund (PIF) about taking Tesla private, but admitted that the exact sources of funding have not been confirmed. Musk said in a blog post that the PIF’s managing director had expressed “strong support for funding a going private transaction for Tesla” [...]
Musk confirms Saudi sovereign fund as Tesla’s primary source of buyback funding | City A.M. August 13, 2018 Tesla’s chief executive Elon Musk confirmed today that he’s in talks with Saudi Arabia’s Public Investment Fund (PIF) for taking Tesla private but no funding has been secured yet. Musk revealed in a blog post this afternoon that the PIF’s managing director had expressed “strong support for funding a going private transaction for Tesla” at [...]
To go private, or stay public? Everything you need to know about Tesla’s big share buyback August 13, 2018 Who's looking to cash in on Tesla? Will Elon Musk keep his cool? What do the regulators think? Here's everything you need to know about the current status of Tesla going private. What's happened so far? On Tuesday last week, chief executive Elon Musk sent out a tweet saying that he is considering taking Tesla [...]
Tesla in legal row with investors over Elon Musk’s plan to go private | City A.M. August 13, 2018 Tesla is facing a barrage of lawsuits from investors angry at founder Elon Musk’s shock proposal to take the company private at $420 (£329) a share. The colourful entrepreneur dropped the bombshell on social media last week, claiming that funding for the move had been secured, driving shares up 11 per cent before its price [...]