Tesla’s stock jumped to a new record high on Wednesday, giving the electric vehicle maker a valuation of more than $208 billion, which means that it is now the most valuable car company on the planet. KEY FACTS - Tesla’s stock has surged 17% this week alone, on Monday closing above $1,000 per share for the first time ever and on Wednesday hitting a new record high price of $1,135 per share.…
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Hertz, one of the largest car rental companies in the U.S., filed for bankruptcy Friday after the coronavirus devastated its business, making it another major company that has filed for bankruptcy amid the pandemic. KEY FACTS - Hertz will file for Chapter 11 bankruptcy, but will remain in business during the proceedings using its $1 billion cash on hand. - Hertz’s Europe, Australia and New Zealand…
Elon Musk used Tesla’s first-quarter earnings call as an opportunity to angrily vent about extended stay-at-home efforts that are curbing the spread of COVID-19 but which he labels “fascist,” amping up frustration he’d expressed earlier on Twitter. The billionaire CEO’s unexpected rant was reminiscent of his attack on “boring” analyst questions two years…
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