Elon Musk’s electric car company closed out the trading day more than 20% below where it opened on Tuesday morning, following a three-day weekend during which investors had plenty of time to digest the sobering news that Tesla would not be added to the S&P 500 index. … [Read more...] about Tesla stock sputters after S&P Dow Jones Indices adds Etsy, Teradyne, and Catalent instead
Tesla share news
Meanwhile, Tesla's stock has jumped almost 500 percent this year, while shares of General Motors Co and Ford Motor Co fell due to fallout from the COVID-19 pandemic. Musk's net worth, too, crossed $100 billion on August 26, making him one of the world's four centibillionaires. … [Read more...] about Tesla will unveil ‘many exciting things’ at Battery Day event on September 22, says CEO Elon Musk
Tesla Inc plunged 18.3% and was set for its worst day in nearly six months after the electric-car maker was excluded from a group of companies being added to the S&P 500.Still, market participants said they did not expect a prolonged sell-off against the backdrop of an accommodative monetary policy by the Federal Reserve, which last week indicated a higher toleration for inflation rising above 2%. … [Read more...] about Slump in Tesla, Apple hits Wall Street as tech rout deepens
The electric car manufacturer’s 21 percent share slip came on the back of news about a partnership between competitors General Motors and Nikola Corporation. But the sell-off began last week when Tesla was “snubbed for inclusion in the S&P 500 index,” Bloomberg reported. … [Read more...] about Elon Musk now 5th richest in world after losing $16.3 billion in one day
“The big picture to me is GM may have come to the realization that they want EVs to come fast and furious,” explains Michelle Krebs, executive analyst at Cox Automotive. “They pretty much said, ‘We’re not doing hybrids and not investing in gas engines.’ At the moment, at least in the U.S., the EV future is farther off. For the future, it’s more use of GM batteries, proliferate EVs, bring down the cost of the batteries.” … [Read more...] about Nikola and General Motors are now partners. Check out this electric pickup truck!