Chinese tech stocks rise as its national leadership group gets an overhaul | City A.M. August 9, 2018 Technology stocks in China rose overnight after Beijing said it has revamped its national leadership group for the sector. Tasked with doing the research and planning for China’s government strategy on tech, the former National Technology and Education Leadership Group has now had the “education” dropped from its name to represent a narrowed focus from [...]
Tesla’s share price (TSLA) loses headwind as analysts cast doubt on Musk’s plans to take it private | City A.M. August 8, 2018 Tesla’s share price was down more than two per cent as markets opened in the US this afternoon, after analysts on Wall Street balked at its chief executive Elon Musk’s claims he could take the firm private. Trading was temporarily suspended yesterday following a string of tweets from Musk in which he said he was [...]
Musk’s Tesla tweet ‘makes a mockery’ of trading rules | City A.M. August 8, 2018 Elon Musk’s tweets suggesting he would take Tesla private “makes a mockery of public markets disclosure”, a director of Fidelity Investments has said. Musk last night said he was considering delisting the electric car firm, offering shareholders $420 per share – around a fifth higher than the price at the time. His comments – made [...]
Tesla shares take off as Musk mulls buyout August 7, 2018 Tesla shares were suspended this evening following a string of tweets by billionaire founder Elon Musk in which he said he was considering taking the company private, leading the stock to spike. Tesla shares were up 7.39 per cent at the time of the hiatus and took off again when trading resumed nearly two hours later [...]
Tesla shares have been suspended following Elon Musk’s tweets on taking company private | City A.M. August 7, 2018 Tesla shares were suspended yesterday evening following a string of tweets by billionaire founder Elon Musk in which he said he was considering taking the company private, leading to a share price spike. Tesla shares came to a halt up 7.39 percent at $367.25. Musk raised eyebrows when he took to Twitter to claim he [...]
Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]
Tesla’s share price soars in double-digit increase on an apologetic Musk | City A.M. August 2, 2018 Buoyed by promises to be cashflow-positive by the end of the year, Tesla’s share price has risen more than 10 per cent on the open this afternoon. The electric carmaker, spearheaded by its charismatic chief executive Elon Musk, reported quarterly revenue above analyst expectations in a results reveal last night at $4bn (£3.05bn). Despite its [...]
Tesla shares up in after hours trading as it says it should be profitable this year | City A.M. August 1, 2018 Tesla announced revenue ahead of expectations at $4bn (£3.05bn) tonight, but its losses were steep as the electric car company continued to burn through money. It posted a loss of $742m in the three months to 30 June as its cash pile dwindled, down to $2.2bn from $2.7bn in the previous quarter. However, its shares [...]
It’s Tesla’s make or break time: Here’s what you need to know before tonight’s results | City A.M. August 1, 2018 Investors are waiting with bated breath to see what Tesla brings out in its second quarter earnings report tonight, as the company nears its make or break deadline. If you’ll be looking out for the results as markets close in the US, here’s what we think you might want to know about. Legal issues It [...]
Tesla released a $1500 surfboard, and it sold out in a matter of hours | City A.M. July 29, 2018 Tesla debuted a new product on Saturday night, in the form of a perfectly normal surfboard. Branded with the Tesla logo and decorated in its trademark red and black colours, the limited run of 200 boards was designed in partnership with surfer brand Lost. While Lost’s boards usually retail within the region of $800, this [...]