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The plan of Elon Musk, the notorious CEO of Tesla, to transform his company from public to private, is permanently abandoned
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. After the tweet at the beginning of August, in which it seemed that the games were already made, the project failed for several reasons. The main three are the opposition of most of the company's stakeholders, including both investors and business bankers who had been consulted to fine-tune the operation and the Saudi sovereign fund, which at first appeared to be was the strongest supporter of Musk's project.
The action, which experienced strong volatility in the aftermath of the announcement, seems to have held up well enough to the news. After falling even 5% in the pre-market phase, it has recovered much of the land, perhaps thanks to the very interesting news from the White House, which indicate a probable agreement with Mexico on the business in the finishing straight.
The Saudis withdrew because they were probably frightened by the need to see their investments concentrated on a single company in the sector. There are plans, according to insiders, to invest in a small competitor of Tesla, also a manufacturer of electric cars, Lucid Motors.
The latter gathers among its ranks many former employees of Tesla and uses batteries produced by Samsung, which, among other things, would be interested in investing heavily in the company or take it directly to increase its sales in the automotive segment, clashing with Panasonic , which develops batteries for Tesla.
The road from here on is certainly not easy for the company based in Freemont, the cash position remains uncertain and the competitors become more and more aggressive. Furthermore, this failed plan by the CEO also calls into question the infallibility of his charismatic figure and the ability to make prudent and strategically successful choices. Many investors who sold, in fact, complain about the lack of seriousness and weighting that the story highlighted by Musk.
In just over a month there will be the new quarterly and all the attention will be paid to the production rhythms of the model 3, which have been promised to be in the order of 4200 a week for a total of 50,000 to 55,000 models produced in the period July-September.
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Source: IQOption blog 2018-08-27 14:55:49
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Thursday, 6 February 2020