Home Business Tesla Shareholders Want a Stock Buyback After Years of Gains Are Wiped Out

Tesla Shareholders Want a Stock Buyback After Years of Gains Are Wiped Out

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Tesla's model lineup with the Morning Shift banner.

Photo: Tesla

Tesla investors want Elon Musk manage the company’s rapid decline stock pricepresident Joe Biden are “directly” involved in negotiations to avoid railroad strikeWhen Nissan Make it easy for customers and dealers The future of EVs. Not only that, but more morning shift Wednesday, November 23, 2022.

First Gear: Tesla Shareholders Plead for Buyback

Tesla’s stock price more than tripled within a year, but those gains were virtually wiped out recently. It looks like a whole lot of damage has been done from CEO Elon Musk’s handling of the Twitter acquisition.

The recession prompted many shareholders to demand that the company buy back its own shares. bloomberg:

More than 8,600 users of the platform, who have been thinking about Musk for weeks after Tesla plunged to a two-year low on Monday, joined a Twitter Spaces conversation the host titled “$TSLA Bagholder Therapy.” Did. Many are complaining that the CEO has sold the stock and are calling for a stock buyback.

“This is up to Tesla’s board of directors,” Musk said in response to one such request last week. On an earnings call last month, he said the board generally thinks buybacks make sense, with $5 billion to the $10 billion he said.

Approving the share buyback would show confidence on the part of Tesla’s board that the stock is undervalued. Musk, who hasn’t hesitated to cut stock prices in the past, was very bullish about that potential on a recent earnings call, saying he sees Tesla as worth more than Apple and Saudi Aramco combined. The company fell short of those comments by selling another $3.95 billion in shares three weeks later, bringing its total disposals over the past year to about $36 billion.

Tesla’s problem, besides Musk saying it’s “a little harder” to get demand around the world, stock price issues.

Bloomberg says that if the company were to do its first-ever share buyback, it would face up to what it has told investors in the past that it would give investors some money back. said it intends to retain all future earnings to fund future growth.

Gear 2: Biden ‘directly’ involved in rail strike

President Joe Biden is “directly” involved in negotiations to avoid a rail strike that would completely disrupt supply chains, the White House reportedly said.

according to Reuters, Biden called a potential railroad closure “unacceptable.” White House spokeswoman Karine Jean-Pierre added that ideally, all parties would work things out on their own.

The full extent of Biden’s involvement is currently unknown, but Jean-Pierre says he participates directly.

Godspeed, Joe. Godspeed.

Gear 3: Nissan wants to make EVs easier for everyone

Through the new program it just announced, Nissan aims to make the introduction of EVs easier for everyone involved. EV Carefree+ plans to offer Ariya’s purchasers a battery warranty and his one-year free access to his EVgo fast chargers nationwide. That’s good for customers.

good for both customers When 3 dealers Year 36,000 miles of scheduled maintenance covering tire rotations, air filter and fluid changes. This should help dealers get over the fact that EVs require less maintenance than internal combustion engines.from car news:

For the past several years, service revenue from Nissan’s electric Leaf hatchback has been half that of the brand’s internal combustion engine vehicles, said Tyler Slade, chairman of the Nissan National Dealer Advisory Board.

The negative impact of EVs on dealers’ fixed-operation business will worsen in the coming years as Nissan prepares to introduce several mass electric sedans and crossovers. The Japanese automaker expects EVs to make up 40% of his US sales by 2030.

“The EV business is a major concern for the future franchise dealer service and parts business,” Slade said. car news.

EV Carefree+ has the potential to soften the impact of EVs on retailers’ revenues by increasing customer retention and creating new revenue opportunities.

Aditya Jairaj, senior director of EV strategy and transformation at Nissan North America, said the free service reassures owners that their EVs are being properly maintained and gives dealers a “point of contact with the customer.” He said it can be produced.

It keeps customers in the dealer franchise system, improving satisfaction and loyalty rates, said Jairaj.

The new program aims to not only serve Nissan’s 1,078 dealers nationwide, but also generate more business.

According to Slade, people who have their car serviced at a dealership are 30% more likely to purchase another car at the same location.

“When they come in for maintenance, it shows new models and technology and creates opportunities to swap out current EVs for newer and better EVs,” he said.

Fourth gear: Elon Musk eyes South Korean EV investment

According to South Korea’s presidential office, Tesla CEO and Twitter rep Elon Musk said South Korea was the frontrunner for a new factory location as the company plans to build in Asia.

Musk reportedly made remarks in a phone call with President Yoon Skyol.He added that Tesla plans to step up cooperation with its South Korean supply chain. Reuters:

Yoon knew of Tesla’s plans to build a factory in Asia in the future, so Yoon asked Musk to build one in South Korea, according to his office.

Mr. Musk responded by saying he sees South Korea as one of the frontrunners and will make a decision after considering investments in other countries, including labor, technology levels and production infrastructure.

Tesla was not available for comment outside of U.S. business hours when contacted by Reuters.

“In 2023, we plan to purchase over $10 billion worth of components from South Korean companies to significantly expand our supply chain cooperation with South Korean companies,” Yoon’s office quoted Musk.

Yoon and Musk’s contact comes ahead of a criminal trial addressing the safety of Tesla vehicles that is about to begin in South Korea at a time when EV makers are facing various lawsuits and increasing regulatory scrutiny. was done in

During the discussion, Yoon said he would reform unreasonable regulations that prevent investment by global tech companies, according to his office. The president added that the government will continue efforts to attract investment from high-tech companies to enhance the country’s competitiveness.

Along with South Korea, Indonesia and India, Among other things, is becoming Lobbying to be home to Tesla’s next Asian investment.

Fifth Gear: Stellantis Brings Creativity to Car Storage

Stellantis reportedly uses an abandoned airfield in eastern France to store cars that are ready to be delivered to customers but cannot be shipped or stored at the Sochaux factory due to logistical problems. I’m here.

A shortage of truck drivers and a shortage of truck and train capacity are hampering deliveries for European automakers.this Pandemic and war in Ukraine.from Reuters:

Thousands of cars await delivery from Sochaux, which makes the best-selling Peugeot 3008 and 5008, Stellantis uses a former military airfield in Lure-Marbuan, about 40 kilometers (25 miles) away. We turned to the unusual solution of storing them in Temporarily, according to sources.

“This disused airfield is now being used steadily to store vehicles produced at Sochaux,” said one of the sources.

A spokesperson for the manufacturer said, “We are reserving additional space and surfaces to store vehicles,” but did not provide further details.

Another source within the car-manufacturing union says Stellantis produces about 1,100 cars per day, but can only ship about 800. It’s easy to see how quickly this problem can snowball.

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