From a decline in its shares to the consolidation of competition.
2 min read
- More competition.
- Loss of money.
- Selling stocks.
Welcome September? In any case, 2020 was something unexpected for everyone, but this month, which lasts only 10 days, has been quite a roller coaster ride for everyone Tesla Motors, Company of Elon Musk.
Among the events that shaped the history of the automaker in the first days of September, we can mention the loss of money, the sale of shares, the situation SP 500 and more competition as reported CNN Business.
This Tuesday saw the worst fall in the company’s shares, falling 21.06% to $ 330.21 per share. All of this as a result of the decision by the SP Dow Jones Indices Committee to exclude Tesla from the SP 500 even though the company has met all market requirements.
It was replaced by three companies with smaller capitalizations but more consistent profitability records: Etsy Inc., online retailer; Teradyne, a semiconductor manufacturer; and Catalent, a pharmaceutical technology company.
The company also announced on September 1 that it would sell $ 5 billion in shares. This happened a day after a situation where the price of each of its securities was divided by five. The company announced that the sale closed on the 8th of this month.
On the other hand comes the competition General Motors terminated his association with Nikola with the aim of developing the Nikola Badger, a fully electric pickup. Nikola shares rose 40% when the news broke.