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Tesla gets five billion dollars in new capital, shares are falling

2020-09-09T08:54:55.492Z


Three bad news caused Tesla shares to plunge by up to 20 percent on Tuesday. The rise to the S&P 500 has failed, rival Nikola strengthened, a huge capital increase dilutes the shares.


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Construction site of the Tesla factory in Brandenburg on September 6th

Photo: Sean Gallup / Getty Images

The electric car maker Tesla has raised a large chunk of fresh money from investors by issuing new shares.

The group of star entrepreneur

Elon Musk

(49) announced on Tuesday the completion of a capital increase with a volume of 5.0 billion dollars (4.25 billion euros).

Tesla is pursuing ambitious growth targets and is investing heavily in various projects such as the construction of its first European plant in Grünheide near Berlin, where, according to information from the Reuters news agency, body construction is to be revolutionized with so-called gigapresses from the Italian manufacturer Idra.

The company's funding needs from Palo Alto, California, are correspondingly high.

With the capital increase, Tesla took advantage of a month-long record rally on the stock market.

After a so-called share split, in which shareholders received four more for each security, initially further fueled the soaring, the price finally fell significantly.

On Tuesday, Tesla's shares posted the highest daily loss in their history, down 21 percent to $ 330.21.

The market value fell by around 80 billion dollars on one trading day.

Since the record high they reached a week ago after the stock split of over $ 500, the price losses of Tesla shares have now totaled more than a third.

The capital increase, through which the stake of the existing shareholders is diluted, added further burdens to the price.

A strategic partnership between Tesla challenger Nikola and US industry giant General Motors was announced on Tuesday.

Nikola shares shot up 40 percent in the evening - it almost looked like a direct change of stock market darlings in the industry.

In addition, the disappointment that Tesla missed the inclusion in the S&P 500 stock market index expected by investors continued to have an impact.

As it became known on Friday evening, the online craft exchange Etsy, the semiconductor manufacturer Teradyne and the medical technology manufacturer Catalent were instead given preference for inclusion in the market-wide index.

The company S&P Dow Jones Indices, which publishes the index, did not want to comment on the reasons for the selection.

The incorporated companies together only have a tenth of the market value of Tesla, but deliver more reliable profits.

While Tesla celebrated the success of four quarters in a row in the black in July, Etsy made it 13 times.

ak / dpa / reuters

Source: spiegel

All news articles on 2020-09-09

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