Musk's Absence in Trial Sparks Apology
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy TSLA?
Source: Newsfilter
- Apology for Absence: Musk's lead counsel, Steven Molo, apologized to the jury for Musk's absence during closing arguments, as he was accompanying President Trump in China, indicating Musk's commitment to the trial's significance.
- Lawsuit Context: Musk has sued his OpenAI co-founders, Sam Altman and Greg Brockman, alleging they violated a promise to maintain the company as a nonprofit and unjustly enriched themselves through business restructuring, which undermines the company's philanthropic mission.
- Court Status: Judge Yvonne Gonzalez Rogers had placed Musk on 'recall status,' meaning he was expected to be available for testimony on short notice, highlighting the urgency and importance of the case.
- Travel Permission Unclear: While Musk's attorneys did not respond regarding whether he obtained permission to travel, a court spokesperson indicated uncertainty about whether Musk secured the necessary approval before his trip, which could impact the trial's proceedings.
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Analyst Views on TSLA
Wall Street analysts forecast TSLA stock price to fall
30 Analyst Rating
12 Buy
11 Hold
7 Sell
Hold
Current: 443.300
Low
25.28
Averages
401.93
High
600.00
Current: 443.300
Low
25.28
Averages
401.93
High
600.00
About TSLA
Tesla, Inc. designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Its segments include automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of high-performance fully electric vehicles, and sales of automotive regulatory credits. It also includes sales of used vehicles, non-warranty maintenance services and collisions, part sales, paid supercharging, insurance services revenue and retail merchandise sales. The energy generation and storage segment include the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives. Its consumer vehicles include the Model 3, Y, S, X and Cybertruck. Its lithium-ion battery energy storage products include Powerwall and Megapack.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Tesla's Financial Position: Tesla currently holds $44 billion in cash against nearly $8 billion in debt, with projected capital expenditures of $25 billion this year, potentially leading to negative free cash flow, thereby increasing the risks associated with its chip manufacturing investment.
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- Market Reaction Expectations: This price adjustment may influence consumer purchasing decisions, particularly in the high-end segment, as Tesla aims to enhance brand value and profit margins while maintaining appeal in the entry-level market.
See More
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- Business Banquet: During a state banquet at the Great Hall, Trump referred to Xi as “my friend” and invited him and First Lady Peng Liyuan to visit the White House in September, indicating a potential boost in future business collaborations between the two nations.
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See More
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- Business Banquet: During a state banquet at the Great Hall of the People, Trump referred to Xi as “my friend” and invited him and First Lady Peng Liyuan to visit the White House in September, signaling positive economic cooperation that could boost bilateral trade.
- Tech Leaders Gather: Tesla's CEO Elon Musk mingled with Chinese business leaders like ByteDance's Liang Rubo, with social media buzz around Musk's selfie with Xiaomi's Lei Jun reflecting vibrant US-China tech exchanges that may enhance collaboration in the tech sector.
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See More
