Tesla Raises $2 Billion: Did Elon Musk Lie to Investors?
14 Février, 2020, 01:37 | Auteur: Auguste Feret
After more than doubling in 2020, Tesla's stock has settled back down to a still-huge year-to-date share price rise of almost 88%. The stock had more than tripled since the company released the first of two straight positive earnings reports in October.
The top target will be paid out if Tesla reaches a market value of $650 billion, more valuable than all but four United States companies today - Apple, Microsoft, Amazon and Google parent Alphabet.
"So in light of that, it doesn't make sense to raise money because we expect to generate cash despite this growth level", he said.
He noted that diluting the company's shares to pay down its debut "doesn't sound like a wise move", according to Reuters.
Musk also said Tesla needed to produce more batteries to increase vehicle production, adding that some projects like its electric semi-trailer truck program could not proceed without battery improvements.
The company said it plans to use proceeds from the offering to strengthen its balance sheet and for general corporate purposes, but a share price hasn't been officially set; however, Musk appears to buying his for a little more than $767 a share. Its profit and revenue in the last three months of 2019 topped estimates and the company said 2020 deliveries should comfortably beat projections amid demand from new customers.
The company said it would offer 2.65 million shares, of which Musk himself will buy up to $10m in shares.
Tesla will be launching plenty of new products, including the Model Y SUV, its big Semi, and the Cybertruck shown here, all of which cost money. Tesla reported US$1.33 billion of expenditures for all of a year ago, well below its initial plan for as much as US$2.5 billion.
Underwriters for the offering are Goldman Sachs, Morgan Stanley, Bank of America Securities, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, Wells Fargo Securities and Societe Generale.
In a note last week, Tesla bull Gene Munster of Loup Ventures commented that Tesla stock may have risen too fast and presents short-term risk resulting from a sequential decline in deliveries (the first quarter is slow for all automakers), Tesla's still-negative free cash flow and margin pressure due to fewer deliveries and rising production ramps, among other things.
Pentagon officials have said the work would be important to advancing the US military's technological advantage over adversaries. Telecoms operator AT&T made similar claims after the U.S. took action to block its takeover of Time-Warner, which owns CNN.
The couple's last major public appearance together was the the 2020 Grammys , where Jonas, 30, performed What A Man Gotta Do . As per reports, Nick Jonas' brother Joe Jonas and his wife Sophie Turner will soon become parents.
In the meantime, the Earth-bound mission team is busy ensuring the probe's multiple scientific instruments are in working order. Solar Orbiter, an worldwide collaboration between the European Space Agency ( ESA ) and NASA, is now hurtling towards the Sun.
Bezos also bought "Vignette 19" by Kerry James Marshall for $18.5-million at Sotheby's, more than doubling its high estimate. The rocket builder has since expanded operations and signaled its first human test flights this year.
The British man who unknowingly infected 11 people with coronavirus , including a British Expat in Majorca has been named. A spokeswoman for the care home said no-one was unwell and the closure was a precaution.
The move saved Detroit $9 million in 2020 cap space but also pushed Stafford's dead-money figure to $32 million, per Spotrac . Stafford led the Lions to a 3-4-1 record while throwing for 2,499 yards, 19 touchdowns, and five interceptions.
The NBA All-Star weekend's events, which take place at United Center and Wintrust Arena this weekend, will be broadcast on TNT . Saturday will feature Queen Latifah performing Stevie Wonder's " Love's in Need of Love Today ." with youth from Chicago.
Harris appeared in 11 games for Auburn as a reserve a year ago , making three tackles, one forced fumble and one fumble recovery. Harris signed with the Auburn Tigers out of high school but transferred to Eastern Kentucky just this month.
The Wall Street Journal said Bezos purchased three NY apartments earlier this year in a deal valued at about $80 million. It was recently reported that Jeff Bezos was shopping for homes in Los Angeles and money wasn't an issue .
Through NASA's Artemis program , the agency will send astronauts to the Moon by 2024 , with eventual human exploration of Mars. Due to their almost identical genes, the twins were perfectly suited for a study about the effects of microgravity.
We have said all along that the best, if not only, solution in Afghanistan is a political agreement. "I think we're very close". Khalid further said that the Afghan government was the first institute that gave the peace message to the Taliban.
Tehran responded to the USA attack on Soleimani by launching missiles at two military bases in Iraq that house American troops. Once the resolution clears the Senate, it will head to the House where it is expected to pass.
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Before his experience in Shanghai, Ying served as the president of the provincial high court in eastern China's Zhejiang Province. A worker with sanitizing equipment disinfects an office following an outbreak of the coronavirus in the country, Wednesday.
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However, Lara Jean's face quickly fills with the realization that she wants to be with Peter when John leans in for another kiss. People could not stop talking about the love story between Lara Jean ( Lana Condor ) and Peter Kavinsky ( Noah Centineo ).
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China on Tuesday confirmed that greater than 1,000 folks have died amid the outbreak with tens of hundreds extra contaminated. Within the last 24 hours, the World Health Organization has created a moniker for Coronavirus , COVID-19.