With not many specifics available yet on Elon Musk's Aug. 7 tweet about taking electric car maker Tesla private, analysts covering the company are debating if his $420-a-share proposal is a fair price for the stock, or if the transaction will even materialize.Six of the 13 analysts who International Business Times/Newsweek spoke to think Musk's offer, which would value Tesla at $71 billion, is not a fair price for investors.On the other hand, six others aren't sure if the taking-private deal would even materialize, citing the current fundamentals of the company. They have price targets well below $400 for the stock, with Cowen setting it as low as $200. Among the latter six, Efraim Levy, senior equity analyst at CFRA Research, did not provide a price target but thinks "there is significant risk that the transaction doesn't happen," adding the company is extremely highly valued, often too richly.ADVERTISINGGlenna Anderson, from BMO Wealth Management, was not in either of the two groups, … [Read more...] about Tesla stock price: Is Elon Musk’s $420-a-share proposal fair?
Who is elon musk
Tech & Science After a crew of artificial intelligence bots bested top-of-the-league humans in a video game match on Sunday, Elon Musk urged OpenAI, the research company he co-founded that created the machine team, to next explore ways to forge “symbiosis” between man and machine rather than complete domination. The best-of-three match of the online battle arena game Dota 2 pitted five humans who ranked in the top 99.95 percentile of players against a team of five neural networks known as the OpenAI Five, which learned the game by playing the equivalent of 180 years per day against itself. In two out of the three matches, the bots clobbered the humans, who won the final game only after the audience chose the machines’ players and purposely spoiled their chances of a sweep. After the match, staunch AI skeptic Musk tweeted the research team had done “great work” but should introduce brain-controlled computer devices that allow humans to work with AI … [Read more...] about Is Elon Musk Scared of AI? SpaceX Founder Urges Tech Company to Develop ‘Symbiosis’ Between Man and Machine
Even though Elon Musk survived a call to strip him of his chairman title at this week's Tesla (TSLA) annual meeting, that doesn't mean the pressure is off the tech billionaire. Investors are watching carefully whether Tesla can meet its production goal of producing as many as 5,000 Model 3 cars per week. At the shareholder meeting, Musk said he was "highly confident" the company can meet that target. That assuaged some shareholders, who sent the stock up more than 9 percent on Wednesday. Yet obstacles remain for Tesla, including what some shareholders see as a misuse of Musk's talents. The company would be best served if Musk would give up his chairman role and focus on running the company rather than corporate governance, in the view of ISS, a proxy advisory firm that urged shareholders to vote in favor of tapping an independent director as chairman. In the near term, investors are focused on the Model 3 production rate because ramping up sales will help offset … [Read more...] about Is Elon Musk doing enough to placate Tesla investors?
Here's a theory for you. If you programmed a machine to perfectly simulate an eccentric Silicon Valley billionaire, it would be virtually indistinguishable from Elon Musk.Change my mind.If you were going to create a bot, "Weird Science" style, to be the perfect tech billionaire you'd set your code to Musk. He's moon-money-rich, shoots cars into space and dates rich and famous celebrities. Throw in a hexagonal house and you're playing Silicon Valley Sims with all the cheat codes unlocked. But 3L0N MU3K has been getting kind of glitchy lately. I don't mean turning up at the Met Gala with singer Grimes. If anything, a dream-pop/witch-house/synth/electronica artist like her is exactly the kind of badass lady every piece of code would want to date. Now Playing: Watch this: Elon Musk: The Silicon Valley date you definitely can't... 1:22 I'm talking more about the Twitter chat, and the out-there inventions and business ventures that are becoming a little too strange to be real.This … [Read more...] about Is Elon Musk just an AI set on ‘eccentric billionaire’ mode?
It goes without saying that taking questions from Wall Street investment analysts about company earnings ranks as the least favorite duty of many CEOs, especially when the earnings numbers are as grim as, say, Tesla’s.But Tesla Chief Executive Elon Musk’s performance on his conference call with analysts Wednesday, following the release of the company’s first-quarter financial results, was in a class by itself. To mention the bottom line here at the top: It was enough to make people wary of buying his stock, and could even make people wary of buying his cars.There’s already evidence of the first phenomenon: Tesla shares were off by more than 8% in early Nasdaq trading Thursday. That brings the company’s slump year-to-date to about 12%.One could detect the impact of Musk’s behavior even during the call itself, when the stock tanked in aftermarket trading while he was speaking.Aficionados of weird CEO behavior will treasure the hour-and-15-minute call … [Read more...] about Elon Musk’s performance on Tesla’s earnings call could make people afraid to buy his stock — or his cars