Mexican Media Brands
Tesla Shares Jump on Morgan Stanley Speculation
Shares in Tesla Inc. jumped on Tuesday amid speculation that Morgan Stanley may join Goldman Sachs Group in advising the company about going private.
#economics
Share
Shares in Tesla Inc. jumped on Tuesday amid speculation that Morgan Stanley may join Goldman Sachs Group in advising the company about going private.
Both firms have announced they are suspending research coverage of Tesla. Goldman did so last week and announce it would be advising Tesla CEO Elon Musk. Morgan Stanley offered no reason for its action.
Tesla shares, which opened today at $310 per share, quickly jumped to more than $342 before closing at $322, up 4%. The intraday high marked the stock’s biggest gain since Musk tweeted his interest in privatizing the company at $420 per share.
RELATED CONTENT
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.