Tesla share price chart

Props to Elon Musk and the people at Tesla. The company may rarely be profitable, and it is yet to sell enough electric vehicles to trigger the end of its federal tax incentive, but according to Wall Street, it's the most valuable car maker in the US. Last week, Tesla overtook first Ford and then General Motors as its share price edged above $300 a share.  At the time of writing, Tesla's stock price was $311.5, which means the company is worth $51.4 billion (£41.4 billion). By contrast, General Motors—which sold roughly 20 times the number of vehicles during Q1 2017—is worth a mere $50.3 billion. Ford, which also delivered more than half a million vehicles in Q1, is worth just $45 billion. If that sounds bonkers, you haven't heard anything yet. Some analysts are predicting that Tesla could hit $500 a share. I must admit, I'm a little puzzled. For as clever as Tesla's vehicles are, the EV market as a whole makes but a minuscule fraction of overall car … [Read more...] about Tesla is worth more than General Motors or Ford

Nintendo shares have skyrocketed since Pokémon Go's release and instant transformation into global cultural phenomenon, but they fell dramatically today after investors realized that Nintendo doesn't actually make the game. Nintendo put out a statement after the close of trading on Friday pointing out that the bottom-line impact will be "limited" as it only owns 32 percent of The Pokémon Company, and that revenue from the game and its Pokémon Go Plus smartwatch peripheral have been accounted for in the company's current forecasts. Pokémon Go is a collaboration between The Pokémon Company and Niantic Labs, the developer who previously created the similar AR game Ingress as part of Google. This apparent revelation caused shares to plummet in Monday trading, with the stock dropping 17 percent at one point, representing about $6.4 billion in value; as Bloomberg notes, Tokyo stock exchange rules prevent share prices from moving more than 18 percent in … [Read more...] about Nintendo shares plummet after investors realize it doesn’t actually make Pokémon Go

UNIVERSAL STUDIOS, Calif.—On Friday evening Tesla officially announced an integrated solar roof and Powerwall product for individual use. When or if the roof and the Powerwall become available to consumers is most likely contingent on Tesla and SolarCity investors voting to approve Tesla's offer to buy SolarCity in a $2.6 billion (£2.1 billion) all-stock deal on November 17. Tesla set up an elaborate "neighborhood" display on the Universal Studios lot in Los Angeles. The company unveiled several model homes with Tesla Powerwalls mounted on the side and a variety of custom roofs with photovoltaic cells disguised as tiles. "You really need to make solar panels as appealing as electric cars have become," Tesla CEO Elon Musk told a crowd of several hundred people as the sun set on the artificial neighborhood. "The goal is to have a roof that's less than the installed cost of a roof plus electricity." In a private conversation with journalists after the announcement, Musk … [Read more...] about Tesla shows off solar roof and energy ambitions at Los Angeles event

The same Chinese company that bought League of Legends a couple of years ago just became one of Tesla's largest shareholders. According to a Securities and Exchange Commission filing dated March 24th, Tencent Holdings Ltd. has purchased a five percent stake in the company—8,167,544 shares to be exact. According to TechCrunch, the deal was arranged a week earlier, and Tencent paid $1.7 billion for the shares. Assuming Tesla gets that money (rather than Tencent having bought the shares in the open market), the cash infusion will no doubt be welcome. The company's acquisition of Solar City came with a large amount of debt, and it continues to lose money selling Model S and Model X electric vehicles—its two profitable quarters have been thanks to the sale of emissions credits to other companies. But it has bulging order books for the Model 3, and it told investors in February that production for that car begins in July. Fulfilling those orders in a timely manner won't … [Read more...] about Tesla sells 5 percent stake to Chinese firm Tencent [Updated]

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