VinFast poised for IPO ahead of global mid- and full-size electric SUV deliveries
Just over a week after beginning deliveries of its first EVs to the US, Vietnamese automaker VinFast has publicly filed the necessary form with the Securities and Exchange Commission (SEC) to begin its process toward an initial public offering, or IPO.
Expand Expanding CloseWall Street is betting against Tesla Motors – TSLA short interest is at its highest in 21 months
According to Nasdaq’s latest short interest update, the total short position on Tesla’s stock increased to 27,367,931 shares – its highest since March 2014. The short position is almost as important as Tesla CEO Elon Musk’s own stake in the company: 28,371,342 shares or about 29% of the float.
Credit Suisse reiterates $325 price target on TSLA, sees focus going back to long-term story
In a new note issued this morning, Credit Suisse analyst Dan Galves reiterated an ‘outperform’ rating and $325 price target on Tesla Motors (NASDAQ: TSLA) . The analyst considers the fourth quarter guidance to be “achievable” and he sees a “reasonable path” to $4 EPS in 2016 – compared to the ~$2.30 annualized loss per share in the last quarter.
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SunEdison to layoff 10% of its workforce as investors question its strategy
According to a new report from GTM on Sunday, SunEdison sent out an internal memo last Friday to announce an important restructuring process which will include laying-off about 10% of the company’s workforce. The restructuring comes amid investor concerns about the company’s strategy which has been “all over the place” lately. Most notably, the company’s acquisition of the residential solar installer Vivint for $2.2 billion earlier this summer.
The decision to buy a residential solar provider was out of SunEdison’s core business, which mostly consist of developing utility-scale solar projects. Now the company might have to sell some of these projects in order to get rid of mounting debts (~$10 billion).
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Tesla closed its stock offering – expects $738.3 million in net proceeds
Last week, Tesla announced a secondary stock offering to try to raise $500 million. Last night, the company released a SEC filing to disclose the closing of the stock offering, and they expect net proceeds (after commissions) to reach $738.3 million, or 47% higher than originally anticipated.
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