Goldman Sachs is creating a joint venture that will help it capitalize on automotive technology firms while they’re consistently being overvalued on the New York Stock Exchange. Automotive startups have become a hot item, so long as they’re trading on the assumed merits of new technologies, and there’s no shortage of new companies being propped up by established players. The last few years have been a merry-go-round of establishment automakers and financial intuitions investing in startups on the off chance they might have something useful.
Meanwhile, burgeoning electric vehicle companies are using special purpose acquisition firms (aka blank-check companies) to maximize their advantage. Even though some have argued this is being done unfairly, there’s not much accountability in general. The iron could not be more primed for striking if you happen to be one of America’s largest banks.
The brief uptick in share price Tesla enjoyed after beating production estimates this week was swiftly erased by a newly critical Goldman Sachs Group.
The investment bank downgraded the company on Thursday, sending its stock back down the hillside, Bloomberg reports. It’s bad news for CEO Elon Musk’s fundraising plans.
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- Dukeisduke I'll pick up my phone and look at a text or something else while at a red light, but when the light turns green, the phone gets put down.
- Dukeisduke Haven't some cars been recalled multiple times (replacement airbags being recalled).
- Azfelix These always looked exciting - like a life-sized Hot Wheels toy. Disclaimer: I prefer Matchbox and Majorette cars.
- SilverHawk Last week I was run off the road by someone having a pleasant conversation through their infotainment system. They were all smiles as I beat a hasty retreat into the exit lane. They never saw me. This happens often, but there doesn't seem to be an answer to this problem. The need to communicate easily overrides any rules we make. With all our technology, driving is still as dangerous as ever.
- MaintenanceCosts I will confess to having sent a few "OK" or "there in 3" response texts while stopped at a light or a driveway exit, but anything more time-consuming than that requires that I be parked out of traffic. I spend too much time as a pedestrian to feel OK about it. When you are a pedestrian, you notice that at least a third of the drivers are fully buried in their phones, and wouldn't see you even if you were dressed up in a fluorescent clown suit with a bright green nose. That's irritating all the time but especially when they turn right on red, through occupied crosswalks, without ever looking up.