Tesla shares slump in S&P 500 debut, pulling back from record levels
- by Claude Bryan
- in Markets
- — Dec 23, 2020
Elon Musk has taken to Twitter to reveal that "during the darkest days of the Model 3 programme", he offered Apple CEO Tim Cook to discuss the purchase of Tesla.
Speaking of paths and the unusual turns they present, Musk recalls the time when he was willing to sell the company to Apple for a tenth of its current value (which is some $607 billion, for the record), but Cook wouldn't even listen. Apple's iCar followed a livestream of Tesla's battery, with Mr Musk taking issue with some of the design choices for the rival company's engine.
Elon Musk responded to Apple Car rumors by revealing that the plans for a monocell battery are odd to use and impossible because of overheating problems.
'He refused to take the meeting'.
At the same time, investors remain convinced that billionaire Elon Musk, the chief executive of Tesla, will continue to push the company's disruptive technology ahead of its competitors.
Admitting that those were the "darkest days" for Tesla Model 3, Musk stated that he wanted to sell off his company.
Reuters on Monday reported that Apple plans to use a unique "monocell" design that bulks up the individual cells in the battery and frees up space inside the battery pack by eliminating pouches and modules that hold battery materials.
Bitcoin soars to record prices on ample liquidity
Bitcoin continued its price rally, rising to US$23,000 this week, a record high in the cryptocurrency's 12-year history. The investment bank considers that it has been absolutely remarkable the way in which Bitocin expanded this year.
Tesla will likely prove to have a more profitable business model than its rivals and post accelerating growth rates in its solar business, allowing its stock to more than double over the next 5 years, he said.
Earlier on 14 September, the firm had told US Securities and Exchange Commission that it "may increase" its BTC holdings beyond the $250 million investment that MicroStrategy had bought on August 11 this year.
Tesla's market value was £460bn at the close of trading yesterday.
Tesla entered is now the world's most valuable vehicle maker and among the top 10 biggest United States companies in the S&P 500 index, which Tesla entered on Monday.
Tesla joined the S&P 500 index on Monday, signaling its arrival as a stock market heavyweight.
A third source said Apple also is working on an advanced electric vehicle battery project. "It's good that Apple is moving and investing in this direction".
