ELON Musk has shared his latest idea with the world by demonstrating how he controls his Boring Company’s enormous tunnelling machinery using an X-box controller. But just what is The Boring Company? We take a look at the business founded by the Tesla chief in closer detail. What is the Boring Company? Elon Musk’s “The Boring Company” was founded in 2016 in California. The company focuses on infrastructure and tunnel construction, and primarily looks at how tunnels can help to ease traffic and congestion in Los Angeles, claiming the 2D transportation network at present is not viable anymore. In February 2017, the company began digging a 30-foot-wide, 50-foot-long and 15-foot-deep testing trench on the premises of SpaceX's offices in Hawthorne, California, as construction on the firm’s own site would not require any permits. Musk describes this venture as a “personal hobby” and invests around “two to three per cent” of his time. Musk … [Read more...] about The Boring Company – what does Elon Musk’s tunnelling company do, why do they sell flamethrowers and where to get a hat?
How much shares does elon musk have in tesla
Elon Musk's track record for technological feats as chief of SpaceX has turned skeptics into believers in everything from his quest to open space travel to Mars to his desire to build a tunnel for high-speed travel between New York and Washington. As Tesla's CEO, his ambitious vision for electric cars has also earned him a faithful following. But now Wall Street is taking a more practical tone, increasingly questioning whether Musk can turn Tesla profitable as it burns through piles of cash and racks up debt. The company may ultimately be forced to sell new shares of its stock or take on more debt just to make it through the year. Shares in the electric car company slumped 5.5 percent Thursday, a day after it reported its first-quarter results and Musk's remarks during an analyst conference call that left many investors scratching their heads. The stock recouped some of its losses Friday, closing up 3.4 percent at $294.09. Tesla shares are still up more than fourfold over the last five … [Read more...] about As Tesla Fights to Make Profit, Wall Street Has Concerns
Wall Street is happy over Tesla's quarterly results and guidance, but Elon Musk's apologies to multiple analysts may even be more important to the company's shares and investor sentiment. On Wednesday's post-earnings conference call, Tesla took its first questions from the two analysts Musk had dismissed three months earlier, when the company reported first-quarter results. That day, the stock plunged in after-hours trading in response to the "boring, bonehead questions" insults and erratic behavior by its executive. This time Musk showed contrition and Tesla shares surged 8.5 percent in after-hours trading Wednesday, adding about $4.75 billion to the stock's value. The stock is up 9.3 percent Thursday. "My apologies for not being polite on the prior call," Musk said, blaming his behavior in part on a lack of sleep and overwork. Video Hyperloop Tests in Nevada Desert, With Eye on North Texas "I appreciate that," said Bernstein analyst Toni Sacconaghi, in … [Read more...] about Elon Musk Makes the ‘Most Valuable Apology of All Time’ on Tesla’s Earnings Call
Sep 13, 1:12 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Reuters 09/13/18 AT 12:37 AM Owning electric carmaker Tesla Inc's shares is close to the riskiest it has ever been, data by options database and analytics firm OptionMetrics showed on Wednesday.More than a month since Chief Executive Elon Musk tweeted a proposal to take the company private, only to abandon the idea in subsequent weeks, traders in the options market remain nervous.Tesla's one-month implied volatility skew, a measure of investor sentiment toward downside risk, is at about 14 percent, not far from a record high, according to the firm's data."If you own a long position in Tesla and you wanted to hedge it with an out-of-the-money put, it's becoming more and more expensive," said Garrett DeSimone, head of quantitative research at OptionMetrics. A Tesla sales and service center is shown in Costa Mesa, California, June 28, 2018. Photo: REUTERS/Mike … [Read more...] about Owning Tesla Shares About The Riskiest It Has Ever Been: Options Data
While it “motors” no more—having recently dropped the word Motors from its official corporate name—California-based energy company, Tesla, is certainly burning rubber in the marketplace, just surpassing Ford Motor Company in market value in April of this year.In addition to its high-quality electric vehicles, Tesla has been making huge strides and gearing its focus more toward the creation and storage of efficient solar and electric energy. Another very interesting aspect to their business model: no more patent litigation. In fact, Tesla CEO, Elon Musk, has specifically referred to a patent as “a lottery ticket to a lawsuit” and claims to avoid them whenever possible. We wanted to know what you all thought of this. Like Tesla, do you see patents—and the lengthy, expensive lawsuits they lead to—as a hindrance to innovation?Tesla and InnovationAs Tesla shifts away from the car manufacturing market and more toward the … [Read more...] about Tesla Drops Motors And Patent Suits