REUTERS: One of Tesla's former biggest supporters on Wall Street said on Tuesday the electric carmaker's shares could fall to US$10 from nearly US$200 now, if tensions with China escalate and sap demand for its cars.Shares of Tesla edged down, heading for their fifth straight session of losses, and bonds weakened, after Morgan Stanley analyst Adam Jonas outlined his worst case scenario.Jonas forecast the shares could be worth US$10 to US$391, with a price target of US$230, a wide range that underscores the confusion and risks about Tesla's future.The company is facing signs of dragging demand as rivals step up electric efforts, as well as issues related to cash flow and manufacturing, its outlook in China and its eccentric, charismatic Chief Executive Officer, Elon Musk."Tesla has grown too big relative to near-term demand, putting great strain on the fundamentals," wrote Jonas, rated a five-star analyst by Refinitiv for the accuracy of his forecasting on the company.The … [Read more...] about Former Tesla bull makes US$10 worst case call on China worries
Tesla real time
Multi-billionaire Elon Musk's real net worth, like his personality, is volatile and mercurial.Probably the best known billionaire in the world (and undoubtedly the most covered by the news and social media), Musk and his exact wealth are a matter of speculation because he lives such an un-billionaire type existence.For one, Musk has no guaranteed multimillion dollar annual salary plus stock options and perks from Tesla Inc. Musk has a $56,000 monthly salary from Tesla but hasn't drawn this salary even once. Seems Musk relies on his salaries and perks from his other businesses such as SpaceX, The Boring Company, OpenAI and Neuralink to get by.But here's what we know about Musk's wealth. Forbes estimates his "real time net worth" as of May 15 at $19.5 billion. That's good for Number 40 on Forbes' billionaires list. CNBC places Musk's net worth at about $23.6 billion (no mention of a time frame).And here's why it's tough placing an exact number on Musk's wealth.In January, Tesla announced … [Read more...] about Elon Musk net worth: How much is Tesla, SpaceX CEO worth?
By David Olive Business Columnist Sun., May 5, 2019 It appears the Trump administration isn’t all that interested in a deal to replace the North American Free Trade Agreement (NAFTA) after all. Last week, White House acting chief of staff Mick Mulvaney was sanguine about the prospect of Congress rejecting NAFTA’s proposed replacement, the United States-Mexico-Canada Agreement (USMCA). “You could stay status quo,” Mulvaney told a California business conference. “Your real Plan Bs are either NAFTA or withdraw from NAFTA.” It might be that U.S. President Donald Trump has reverted to his years-long preference to simply kill NAFTA without replacing it. Trump won’t budge on the reasonable changes that Congressional Democrats seek to make to the USMCA agreement. He also seems determined to keep in place the steel and aluminum tariffs he applied against Canada and Mexico about a year ago. And that alone pretty much … [Read more...] about Time to say goodbye to NAFTA’s replacement?