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The market value of US electric car maker Tesla fell by $ 80 billion on Tuesday, the equivalent of almost € 68 billion. The group had been denied admission to the S&P 500 stock index, which among other things led to a 20 percent price drop. Instead, home-made e-commerce platform Etsy landed a spot on the S&P 500. However, Tesla’s sudden price loss was not a complete surprise – analysts had already deemed the stock significantly overvalued for months.
In early September, Tesla posted a record $ 502 for its paper. On Tuesday, a share was worth $ 330. This means that Tesla has lost about 30 percent of its value in one week.
In reality, the 1: 5 ratio of Tesla’s stock split in August was supposed to slow down the strong development of Tesla security prices somewhat. Shareholders received four more per share with the same investment volume. Instead, however, the value rose to last week’s record.
Reasons for loss
Explanations for the current price loss are varied and not only due to the fact that index provider S&P Dow Jones refused to include the Tesla Group in its S&P 500 stock index and instead included other companies such as Etsy, semiconductor manufacturer Teradyne and medical technology company Catalent. . Each of these companies has a significantly lower market value than Tesla, but all were able to shine with more frequent continuous quarterly earnings. Tesla had been able to post a series of four-quarter earnings in a row, but S&P Dow Jones was probably too unsure about an overvaluation of Tesla. Analysts agree with Wall street journal Suppose that the quality of the companies’ earnings may have influenced the decision. S&P Dow Jones declined to comment on the reasons.
Additionally, the entire tech sector is currently facing stock market crashes. The US Dow Jones Index fell 2.3 percent to 27,500 points. The Nasdaq fell 4.1 percent to 10,847 points and the S&P 500 also suffered a 2.8 percent drop to 3,331 points. So not just Tesla, but other US tech giants like Alphabet, Amazon, Facebook and Netflix, which suffered losses last week, are also affected, but not as much as Tesla.
(New) contest
Tesla is also blowing wind in another direction: General Motors (GM) has invested in the small hybrid utility truck maker Nikola with a stake of around two billion dollars and now owns 11 percent of the shares as well. Wall street journal reported. This should be a win-win situation for both companies: Nikola will receive services from GM in the future, GM will benefit from his technical knowledge in the field of hybrid powertrain technology for commercial vehicles. GM should have the lucrative pick-up segment in mind and also want to offer Tesla’s planned Cybertruck Paroli.
Investors welcomed the stake positively, with Nikola shares rising 30 percent on Tuesday, while GM’s shares rose 7 percent. Another blow for Tesla.
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(Quelle: Tesla)
Tesla announced Tuesday that it had completed a $ 5 billion capital increase, which the company had raised by issuing new shares. Tesla needs fresh money for future investments.
(olb)
