Because Daimler plans to continue its partnership with Tesla on automotive projects, the sales looks like a bit of profit taking. At today’s closing stock price Tesla’s market cap was $29.33 billion, making Daimler’s stake worth about $1.26 billion. Daimler said it expects a “cash inflow” of around $780 million from the stock sale.
Tesla will continue to supply electric drive units to Daimler for its Mercedes B-class models and the company,s smart for two electric drive mini-car. The chairman of Daimler’s board of management said, “Our partnership with Tesla is very successful and will be continued.”
Tesla shares have dropped about 1% in Tuesday’s after-hours session to $233.00 from a closing price of $235.34, up 2.11% on the day. The stock’s 52-week range is $116.10 to $291.42.
ALSO READ: Michigan Governor Outlaws Tesla Sales
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
