Business Maverick: Panasonic Sells its Entire Stake in Tesla to Raise Cash

The Japanese company held 80.9 billion yen of Tesla shares as of March last year and that stake had been reduced to zero by the end of this March, Panasonic disclosed in a filing Friday. The filing didn’t give any indication as to why Panasonic jettisoned its interest. Tesla’s stock appreciated more than fivefold over the 12-month period.

The Nikkei reported the news earlier, saying Panasonic will book several hundred billion yen in profit and will use the proceeds to help pay for its $7 billionPanasonic is Tesla’s oldest battery supplier and the two have invested billions of dollars in a battery factory in Nevada. The relationship has been contentious at points, with Panasonic facing frequent — and at times public — prods from Tesla Chief Executive Officer Elon Musk to boost battery production.

Shares of Panasonic rose as much as 4.8% in Tokyo on Friday. Tesla closed 3.5% higher in the U.S. on Thursday. Its Nasdaq-traded stock touched a high in January of $883.09.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Business Maverick: IMF to Send Kenya $407 Million for Budget, Cites Program AdvanceThe International Monetary Fund will release $407 million in new funding for Kenya’s government, citing the nation’s dedication to economic overhauls. Half of the money will be stolen by Kenya Government officials! The common man will see no difference at all! IMFSpokesperson IMFNews IMFAfrica!
출처: dailymaverick - 🏆 3. / 84 더 많은 것을 읽으십시오 »

Business Maverick: Covid-19 is having a startling effect on retirement funds, with suspensions quietly explodingThe Sanlam Benchmark Survey released this week reveals the deep impact that Covid-19 had on the retirement industry, with 27% of stand-alone retirement funds and 41% of umbrella funds’ employers reflecting suspended retirement fund contributions last year.
출처: dailymaverick - 🏆 3. / 84 더 많은 것을 읽으십시오 »

Business Maverick: Two Decades After Land Grab, Zimbabwe Starts Paying FarmersZimbabwe made its first compensation payment as part of an agreement to settle a dispute with White commercial farmers who had their land seized violently two decades ago. African_Spring Congratulations to all the hardworking farmers, they deserve every cent and more for the crime that was done against them!!! I salute you our farmers!!! African_Spring That the same detour lies ahead of South Africa. Land grab, starvation, coming back to economic model. The only problem is that there is no other land to run South of South Africa for black South Africans. Can this be forwarded to Cyril and company...?
출처: dailymaverick - 🏆 3. / 84 더 많은 것을 읽으십시오 »

Old Mutual surge adds R4bn to market value as investors cheerInsurance group says it intends to unbundle most of its Nedbank stake Thank God for bringing bitcoin to man,it has being a great source of blessing to all of man kind who have passion for bitcoin trading. Now the poor are getting rich over night and the rich getting richer. GregBdie thank you for your proper management,🙏🏻🙏🏻
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »