Things that have happened to Tesla in the first days of September

From a fall in its shares to the consolidation of its competition.
Things that have happened to Tesla in the first days of September
Image credit: Depositphotos.com

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2 min read
  • More competition.
  • Loss of money.
  • Sale of shares.

Welcome September? Definitely the year 2020 has been something unexpected for everyone, but this month that only takes 10 days has been quite a roller coaster for Tesla Motors, company of Elon Musk .

Among the events that have marked the history of the automaker in the first days of September we can mention the loss of money, the sale of shares, the situation with the S&P 500 and more competition, according to CNN Business .

This Tuesday there was the worst fall in the company's shares, which fell 21.06% reaching a value of 330.21 dollars per share. All as a consequence of the decision of the S&P Dow Jones Indices committee, which left Tesla out of the S&P 500, even though the company met all market requirements.

Photo: Depositphotos.com

In its place, three companies with lower capitalization but more consistent track record of profitability entered: Etsy Inc., an online retailer; Teradyne, a semiconductor manufacturer; and Catalent, a pharmaceutical technology company.

Also, on September 1, the company announced the sale of shares for a value of 5 billion dollars, this occurred one day after a situation occurred that divided the price of each of its securities by five. The company announced that the sale was completed on the 8th of this month.

On the other hand, the competition is coming, General Motors announced its partnership with Nikola with the aim of developing the Nikola Badger, a fully electric pickup truck. Nikola shares rose 40% when the news broke.

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