Tag Archives: Tesla

Elon Musk on Friday announced he was backing out of his $44 billion Twitter acquisition bid, blaming the social media platform’s alleged lack of transparency regarding bots on the site. As both sides prepare for a lengthy court battle, some Twitter influencers are floating an alternate theory for the change of heart: The bots were never the problem, merely a vehicle through which to covertly sell Tesla options that were about to expire. “Entire thing was a clever ruse to SELL + LIQUIDATE $8.5… Source link

Some storm clouds are appearing on the horizon for Tesla bulls after a respectable second quarter. “The elephant in the room for Tesla (and the broader market) is with dark economic storm clouds on the horizon and Musk himself thinking recession risk is imminent, what does this mean for Tesla’s demand story going forward?” Wedbush Wedbush Senior Equity Research Analyst Dan Ives stated in a new note to clients. “In a nutshell, while June delivery numbers were ugly and nothing to write home… Source link

Michael Burry said on Tuesday that the U.S. labor market is about to be sliced in half, with blue-collar workers remaining a sought-after commodity, while white-collar workers see job losses and falling wages. In other words, the good times are ending for office workers. “I see a bifurcated labor market developing as unskilled and semiskilled remain in short supply, but white-collar workers, having proven their redundancy during COVID, will find gross excess in the labor market, pressuring… Source link

Tesla CEO Elon Musk.Maja Hitij/Getty Images Two former Tesla employees have filed a lawsuit against Tesla, claiming its mass layoffs violated federal law. In early June, CEO Elon Musk said Tesla needed to cut 10% of its staff, per Reuters. The two former employees are looking to claim 60 days’ worth of pay and benefits. In a lawsuit filed Sunday, two former Tesla employees claim the electric carmaker violated federal law by laying off hundreds of employees on short notice. On June 2, Tesla CEO… Source link

Tesla CEO Elon Musk at the company’s Cyber Rodeo event in Austin, Texas.SUZANNE CORDEIRO / AFP Elon Musk tweeted that the “total headcount would increase” at Tesla and salaried staff would stay “fairly flat.” Musk’s comments came after the Tesla CEO sent an email to staff saying he would cut 10% of salaried jobs. Tesla employed nearly 100,000 staff at the end of 2021. After sending an email about job cuts for salaried staff, Tesla CEO Elon Musk seemed to retract his statements in a tweet reply… Source link

(Bloomberg) — Tesla Inc. has lost its crown jewel status in Cathie Wood’s main fund for the first time in about four-and-a-half years. Most Read from Bloomberg Elon Musk’s company had commanded the pole position by market value in the ARK Innovation ETF, an exchange-traded fund known as ARKK, on most days since at least 2017, according to data compiled by Bloomberg. That changed on Thursday, when electronics product maker Roku Inc., a firm with $13.2 billion of market value, pipped it to… Source link

Workers at an Apple supplier in Shanghai are operating under a “closed loop” system where they work, live, eat, and sleep onsite.Qilai Shen/In Pictures via Getty Images Images Videos show workers at an Apple and Tesla plant in Shanghai clashing with quarantine officials. The workers were said to be frustrated with onsite COVID-19 measures. The clash underscores the frailty of Shanghai’s plans to reopen its factories amid strict lockdowns. More than a hundred workers at a major Apple and Tesla… Source link

Tesla (TSLA) shares fell on Tuesday amid investor concerns that CEO Elon Musk would need to sell shares in order to fund a portion of his $44 billion buyout of Twitter (TWTR). Meanwhile, Twitter’s shares have recovered from a late-March trough ahead of the buyout deal. Columbia Law School Professor John Coffee believes that it will be challenging for Musk to juggle managing Tesla and Twitter simultaneously — on top of SpaceX, The Boring Company, and Neuralink. “Moreover, Tesla is going… Source link

(Bloomberg) — Tesla Inc. is on pace to wipe off over $100 billion from its valuation in a single session Tuesday with the stock down more than 11% on investors’ concern that Elon Musk may sell shares to complete his $44 billion takeover of Twitter Inc. Most Read from Bloomberg The electric-vehicle maker’s market capitalization is already down nearly $250 billion since April 4, when Musk disclosed that he increased his Twitter stake. That’s a drop of roughly 23%. The dollar value of… Source link

Yichuan Cao/NurPhoto via Getty Images Twitter officials are expected to meet Sunday to re-examine Musk’s offer to buy the company, WSJ reported. The company last week filed a shareholder rights plan or “poison pill” to prevent a hostile takeover by Musk. The Tesla CEO confirmed $46.5 billion in financing from banks and other entities in a regulatory filing earlier this week. Twitter is reportedly reconsidering Elon Musk’s bid to purchase the social platform, The Wall Street Journal… Source link