Tesla in the Center of Attention Again
3 minutes for reading
This week, the king of breaking news is, no doubt, an American electric car producer Tesla. Several pieces of news from Elon Musk’s company got public attention, and all of them are quite interesting. Check them out.
Chapter one. Tesla selling stocks
On December 8th, Bloomberg let out a rumor that Tesla was planning to sell its securities for 5 billion USD, inspired by the impressive growth of the quotations. Tesla already did this: it sold its stocks for 2 billion USD in February and for 5 billion USD – in September.
The money it makes is used for extending and developing its producing powers. The sale in December will let the company complete the construction of plants in Berlin and Texas.
An international company specializing in financial analysis announces that today, 758.13 million stocks of the electric car producer are in circulation, which is almost 80% of the overall amount.
Chapter two. Tesla and the crazy growth of its capitalization
During Monday and Tuesday, the stock price of mister Musk’s company grew by 8.5%, reaching 649.9 USD per stock. Thus, the capitalization of Tesla exceeds 600 billion USD, amounting to 616.02 billion USD, to be precise.
In terms of the market cost, the company leaves other car producers, including Toyota Motor Corporation (197.17 billion USD) and Volkswagen AG (79.76 billion USD) far behind.
Note the yearly growth of Tesla stocks: in 2020, the stock price increased by 663%. The sky-rocketing of the quotations these weeks has been provoked by the news that the company will be added to the S&P 500 index, and in one tranche rather than step by step.
Chapter three. Tesla’s report on race and gender distribution
- In the management, there are 83% of men and 17% of women;
- As for races in the management, white people make 59%, Asian people – 25%, Afro and Latin Americans – 4%, other races – 12%;
- Among all employees, there are 79% of men and 21% of women;
- As for races, 40% of employees are white people, 22%are Latin Americans, 21% are Asians, 10% are Afro Americans, 7% belong to other races.
If you wonder about the purpose of such a report, I remind you that at the beginning of December, NASDAQ representatives asked the SEC for new standards.
The rules are meant for regulating the allocation of workplaces by race and gender in companies, represented in the exchange. NASDAQ management states that corporate America must represent all minorities.
Summing up
Tesla is going to sell its stocks for 5 billion USD to complete the plants in Berlin and Texas. Its stocks are trading for 649.9 USD each, increasing the capitalization to 616.02 billion USD. Analysts explain such swift growth by the fact that the car producer will be added to the S&P 500.
Also, the company represented the race and gender distribution of its employees, demonstrating how workplaces in the management and generally are distributed between the representatives of different races and genders.
It is just Wednesday, so there might be more news about Tesla this week. Stay tuned not to miss anything interesting.
