Daily Management Review

SpaceX is now worth more than Tesla


06/03/2019


SpaceX successfully launched 60 Starlink satellites into orbit and reported that in 2019 it raised more than $ 1 billion in funding. SpaceX is now valued at $ 33.3 billion, according to CNBC. Tesla shares fell to below $ 200, thuscollapsing by more than 40% this year. Tesla's market capitalization at the end of trading on Friday was $ 32.8 billion. SpaceX is now worth more than Tesla.



SpaceX
SpaceX
SpaceX is estimated at $ 33.3 billion, according to CNBC, citing investors familiar with the company's latest investment round. Tesla's market capitalization at the end of trading on Friday was $ 32.8 billion.

Musk is the largest shareholder and CEO of both companies, with 54% of SpaceX shares and more than 20% of Tesla shares.

SpaceX recently successfully launched 60 Starlink satellites into orbit and has attracted more than $ 1.02 billion since the beginning of 2019. Tesla shares also fell by more than 44% over the same period.

The car maker is struggling to optimize costs, and relies on China in the long run. The company's efforts to promote in China were reflected in the construction of a factory in Shanghai this year, when trade relations between the United States and China deteriorated.

Until Tesla can produce its Model 3 electric sedans in China, it will be subject to high import duties. Tesla also faces higher rates for parts and raw materials, which it buys from Chinese batteries and automobiles suppliers in the United States.

Morgan Stanley analyst Adam Jonas believes that investors should not rule out the possibility that Musk may use his SpaceX share for Tesla's financial assistance. The analyst recalls the example of SolarCity, the manufacturer of solar cells that the car maker bought in 2016.

The deal cost Tesla $ 5 billion: it issued 2 billion shares and assumed about $ 3 billion in SolarCity’s debt. Musk said that the business of selling clean energy systems is related to Tesla and fits into the company's policies, but some investors have called this deal salvation of a subsidiary at the expense of Tesla shareholders. Before the merger, Musk was Chairman of the Board of Directors of SolarCity, and his cousin Lyndon Rive was CEO of the company.

source: cnbc.com






Science & Technology

Porsche, Boeing set to develop flying electric car

Samsung to invest $ 11 billion in new generation displays

US is betting on Nokia and Ericsson to replace Huawei

UPS becomes first to receive full regulatory approval for UAV shipping in USA

NASA orders Lockheed Martin to build spacecraft to fly to the Moon

Hyundai to create joint venture for unmanned vehicles

Bain & Company: E-wallets and cheaper transactions are new payment trends

Is UAV drone industry falling into decay?

UK Scotland Yard employs AI to deal with frauds

US sets to fight robocalls outbreak

World Politics

World & Politics

Dominican Republic lost $ 200 million because of scandal with tourists death

France: We will take measures to protect our military in Syria

Paralyzed Hong Kong: Protests don't fade

Johnson unveils Brexit compromise deal considering Irish issue

African swine fever at Europe’s borders: time for an embargo?

Saudi Crown Prince Says Khashoggi’s Murder Happened Under His Watch

Will Merkel restore her "Climate Chancellor" image?

Venezuelan opposition to receive $ 52 mln from USA