Tag: stock

By on June 18, 2020

The Securities and Exchange Commission has urged the recently bankrupted Hertz to halt the sale of stock. The rental agency had hoped to raise half a billion on the sale but repeatedly warned that would-be buyers were gambling, as the stock may soon be worthless.

Bizarrely, this hasn’t discouraged investors from glomming onto shares of bankrupt and near-bankrupt companies. Despite the global economy supposedly hurdling into a recession and mass unemployment, Wall Street hasn’t signaled that anything is amiss.

Still, the SEC has grown concerned with the trend and decided to address them with Hertz, according to a recent filing. Trading of Hertz Global Holdings Inc. was halted on Thursday, placing investors in a holding pattern as everyone speculates whether the bankrupt car renter will have to revise its plan to raise cash by selling new shares.  (Read More…)

By on May 5, 2020

Ford badge emblem logo

Ford Motor Company COO Jim Farley has purchased $1 million of stock in the company he works for as a sign of faith that the Blue Oval can and will recover. You might recall Farley from his recent promotion, one resulting from a March management shakeup that forced Ford’s former head of automotive Joe Hinrichs out of the company. That situation ruffled a few feathers, but it’s ancient history now, considering what landed on Ford’s plate later in the month.

The automaker went into the coronavirus pandemic in the midst of a comprehensive and costly restructuring campaign. Government-mandated lockdowns soon stymied the economy, negatively influencing Ford’s share price. Plenty of automakers find themselves in similar situations, creating an impetus to further walk back mobility claims they were all betting on — or, more accurately, getting Wall Street to bet on.  (Read More…)

By on May 4, 2020

Elon Musk

Tesla CEO Elon Musk has had an interesting few days. It all kicked off when he went off on the politics behind coronavirus lockdowns — suggesting that state mandates had surpassed what should be deemed reasonable and that civil liberties were being infringed upon — during Wednesday’s earnings call. By week’s end, he was using social media to announce Tesla’s stock price was too high.

Despite it not being his first time making such a claim, and with the automaker turning a surprise first-quarter profit, the company’s share price still lost 10 percent in a single day. Musk then announced he would sell practically everything he owned. Initially, it seemed to be another partial joke taken completely literally by some followers and the media. But Musk began making good on the claim, listing two properties over the weekend.  (Read More…)

By on January 31, 2020

2019 was not a good year for Aston Martin’s balance sheet. As the British automaker struggled to get new product out the door, its stock decided to mimic the final plunge of the Edmund Fitzgerald. A second profit warning greeted accountants and shareholders as the New Year dawned.

As reported Friday morning, the company’s outlook is suddenly much sunnier. (Read More…)

By on March 29, 2019

Back in 2016, General Motors invested half a billion bucks in Lyft, the rideshare company bent on taking Uber to school. When the deal was made, the companies portrayed it as a long-term strategic alliance. Since then, investments have been made in Lyft by GM’s competitors (namely Ford), and GM has made investments in potential Lyft competitors like Cruise Automation. Pro tip: don’t try to draw this particular family tree.

Today, Lyft went public on the stock market, seeing an astounding open of $87.24 a share. As a gearhead, why should you care about this? Well, remember that investment GM made in the company? The General now owns 18.6 million shares, which now translates into a net value of over $1.5 billion.

In a company besieged by idling plants and layoffs, suddenly finding an extra billion-and-a-half bucks on the books is surely a big deal.

(Read More…)

By on March 5, 2019

On Thursday, Tesla announced it will finally begin delivering the Model 3’s long-awaited base trim to the public through direct online sales. By eliminating storefronts, the automaker believes it can reduce costs — helping to get that pesky profit situation under control.

Unfortunately, reports have emerged that claim those employees had no idea their jobs were on the line. Meanwhile, the company’s share price took a hit in the wake of the announcement, causing its stock to drop significantly. Since last Thursday, more than $8 billion disappeared from Tesla’s market capitalization.  (Read More…)

By on October 1, 2018

Analysts and investors are quick to point out a key similarity between Ford Motor Company’s stock and the terrain between the Appalachians and Outer Banks, viewed from west to east. Unlike Tesla’s recent share price plunge(s), Ford’s decline has been gradual, remaining stubbornly unaffected by the automaker’s attempts to turn it all around.

While he’s faced questions about his performance before, Ford CEO Jim Hackett is growing frustrated with the idea that, under his leadership, the company is focused too much on the future, with not enough going on in the present. (Read More…)

By on August 21, 2018

tesla model 3

Save for some uplifting production news, Tesla Motors is still fighting an uphill battle. CEO Elon Musk’s earlier claim that the company would go private has gotten him into trouble with the Securities Exchange Commission — since it looks as if the automaker hasn’t procured the necessary funding to make that happen.

However it doesn’t appear as if Norway’s sovereign wealth fund will be the outlet to pick up that tab. Trond Grande, deputy CEO of the Norwegian fund, declined to say whether Tesla had approached the fund about going private. “We don’t have a view on that,” he said before adding “We want to be invested in companies that make money.” (Read More…)

By on August 7, 2018

After igniting a blaze of speculation via Twitter and halting the trading of Tesla stock, CEO Elon Musk made public an internal email sent to employees. In it, he lays out his reasoning for taking the publicly traded automaker private.

While there’s no mention of the secured funding mentioned in his earlier tweets, the desired share price — $420 — remains. And Musk seems quite confident that shareholders will see things his way. (Read More…)

By on August 7, 2018

Elon Musk

Tesla may be going private, according to a Tuesday message from Elon Musk’s Twitter account. “Am considering taking Tesla private at $420. Funding secured,” the CEO wrote. “Good morning,” he said immediately afterward, accompanying the message with the smiley face emoji.

What followed was rampant media speculation as to whether Musk was in his right mind or not, while Musk continued responding to questions online.

“I don’t have a controlling vote now & wouldn’t expect any shareholder to have one if we go private. I won’t be selling in either scenario,” he said after being asked whether it would be an outright sale and if he could retain control of the company. “My hope is *all* current investors remain with Tesla even if we’re private. Would create special purpose fund enabling anyone to stay with Tesla. Already do this with Fidelity’s SpaceX investment.”

Meanwhile, CNBC and a few other news outlets noted that the number 420 has a special significance in the marijuana-smoking community and that Musk’s good-morning tweet was issued at around 1:30 p.m. Eastern, which — gasp — isn’t in the morning at all! (Read More…)

By on February 28, 2018

2019 Ram 1500

After last week’s announcement of a $9 billion Daimler stock buy-up by China’s Geely Group, an old story is once again rearing its head. Remember last year’s buzz surrounding a possible takeover of Fiat Chrysler Automobiles? The rumors CEO Sergio Marchionne subsequently refuted? Yes, that story.

A new report claims Geely did indeed give FCA the once-over, even engaging in preliminary talks. Obviously, this first date went nowhere, as Geely now owns nearly 10 percent of German auto giant Daimler, not the maker of Jeeps and Rams. (Read More…)

By on December 8, 2017

 

stereo wiring

Sajeev writes:

That’s right people: I need more user-submitted queries to keep this series alive!

The same rules apply, just about anything besides the “Help Me with my First World Problem Car Purchasing Dilemma” is on the table. If you’ve seen it on an automotive message board, let’s tackle the issue here. I need your content!

[email protected]com

No more begging, let’s get back to Craig the Audiophile looking to cancel his noise-cancelling Grand Cherokee: (Read More…)

By on January 31, 2017

 

navigation system

TTAC Commentator Waftabletorque writes:

Dear Sajeev,

I’m having an issue diagnosing a navigation system problem on my 2002 LS430. I’ve gone a few years with the GPS link not working, which means it no longer receives a satellite signal and defaults to dead-reckoning mode (the GPS symbol disappears on the touchscreen). It’s a nuisance issue but it’s low on my priorities.

It also happens that I’ve been using a dashcam for the last four years. I never linked the two together until I had a couple of dashcams go bad in 2016, and spent the whole summer without one. Well, my GPS started working again, and I chalked it up to a warm summer fixing some sort of electrical wiring fault in the antenna.

Once I got my fourth dashcam in September, I noticed my GPS stopped working again. It was getting cold in the mornings and I thought my good luck spell had ended. Then, it occurred to me that maybe the GPS gets disabled when the 12V was in use. I’ve since found that it’s true for all three of my 12-volt ports (cigarette lighter, arm rest, rear seat cigarette lighter).

None of my other electrical loads (seat heaters, defrosters, seat massagers, headlights, fridge, etc) seem to trigger this issue, and I replaced the car battery in 2013.

So, what’s my next step? Is this a grounding issue? Voltage issue? A conspiracy of aftermarket electronics deliberately disabling automotive functionality? (Read More…)

By on October 8, 2016

Tesla Model 3 Prototype on road, Image: Tesla Motors

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. (Read More…)

By on October 3, 2016

Tesla Model X

After a second quarter that was anything but hot, Tesla Motors surprised analysts by delivering 24,500 vehicles in the third quarter — a 10,000-unit jump over the previous tally.

The healthy delivery numbers allow CEO Elon Musk to stick to his promise of 50,000 deliveries in the second half of this year, reports Bloomberg. Still, the production boost failed to buoy the company’s stock, meaning Musk’s fundraising plans won’t be easy. (Read More…)

Recent Comments

  • PrincipalDan: As GM raced toward bankruptcy and the death of Pontiac shortly thereafter, dealers were being extorted...
  • Sobro: By the looks of it not a single part has been salvaged. From “Wide Track” to “Maybe...
  • Gardiner Westbound: Making a bad situation worse, the dealer affixed a badge visible from outer space.
  • Lie2me: Remember the TV show “Jacka$$”? Teddy, it wasn’t meant to be a blueprint for living :(
  • Lie2me: “You can’t make this stuff up.” Why not? You do

New Car Research

Get a Free Dealer Quote

Who We Are

  • Matthew Guy
  • Timothy Cain
  • Adam Tonge
  • Bozi Tatarevic
  • Chris Tonn
  • Corey Lewis
  • Mark Baruth
  • Ronnie Schreiber