Monday Stock Market Analysis Bear 30 or Bear 30? Tesla Moderna TLT DXY Silver HYMC NIO QQQ SPY ABUS
Today after the close of regular trading Tesla, a well-known American electric vehicle company, announced that it intends to split its shares 5 for 1. The split announcement comes after a sharp rally in the value of Tesla equity in recent quarters.
The company’s shares quickly rallied on the news, picking up 8% in after-hours trading.
Tesla, ever a controversial company, traded for as little as $211 in the last year. After today’s news the company is now worth $1,485 per share. Worth comfortably more than $250 billion, Tesla is amongst the world’s most valuable companies, let alone among the most valuable automakers.
Using our arithmetic, Tesla shares would be worth around $297 after the split.
The stock split comes two years after take CEO Elon Musk infamously tweeted that he was considering taking Tesla private and had “funding secured.” Tesla then published an email Musk had sent to employees that described his rationale, only to backtrack a few weeks later and announce the company would remain public.
That tweet got the attention of the U.S. Securities and Exchange Commission, which later accused Musk of securities fraud. The parties reached a settlement without admitting wrongdoing.
Under the settlement, Tesla agreed to add two independent directors and Musk would step down as chairman for three years.
Since then Tesla shares have experiences volatile swings before going on a run that started this spring. The stock has been on a tear even as other automakers like Ford and GM have send their shares languish. This share-split is perhaps the logical conclusion of its rapid appreciation.
Charts Stock Market
U.S. inks $1.5 billion deal with Moderna for 100 million doses
The United States has entered an agreement with drugmaker Moderna Inc to acquire 100 million doses of its potential Cervezza vaccccine for around $1.5 billion, the company and White House said on Tuesday.
The United States in recent weeks has made deals to acquire hundreds of millions of doses of potential vaccines from several companies as part of its Operation Warp Speed program, which aims to deliver a vaccine in the country by the end of the year.
Moderna’s price per dose comes out to around $30.50 per person for a two dose regimen. That is broadly in line with other deals that the United States has penned with drugmakers for potential vaccines.
Moderna’s vaccine candidate, mRNA-1273, is one of the few that have already advanced to the final stage of testing. The study, which aims to include 30,000 people, is on track to be completed in September, the company said this month
ABUS owns the technology that holds the RNA in fatty lipids in order to deliver the vaccine to the cells.
MRNA a sales company since they didn’t have the knowledge to make a vaccine before this pandemic