Breaking News: Tesla Inc market value has now surpassed both legendary Ford Motors and General Motors company market values combined.
January 8, 2020 (Wednesday) Tesla Inc had a market cap of $89 billion, approx 2 more billion dollars then Ford Motors ($50 billion) and General Motors ($37 billion) combined.
Many of Tesla Inc’s attributes for rising market cap has to be with a profitable 3rd quarter the electrical auto maker had; also surpassing auto deliveries in the Chinese market, while also having its stock more then double over the past few months. These all seem to be contributing factors to its increased market cap currently.
With all the accolades Tesla has achieved, there are skeptics in the investment community who believe the company will not able to sustain cash flow nor provide more profitability in the next few years.
AMAZON (AMZN) has done it again folks!!!!!! One of the world’s largest online retailers has just bought the biggest Middle East online e-commerce retailer. Amazon has recently acquired Souq.com; the biggest ecommerce retailer in the Middle East. The company which is based in Dubai, United Emirates is the largest of its kind, in the middle east. Souq is valued at over $1 billion dollars .
Amazon has been serving customers in the Middle East for years, but wanted to expand its portfolio in the region, and they have with the purchase of Souq. It has been noted that Souq.com sells more than eight million products in the region.
Souq.com has over 3,000 employees in the Middle East and Arab countries; when the company started in Dubai, they only had five employees. Souq CEO Ronaldo Mouchawar, believed Amazon was the only choice as far as his concern, though the company had a $800 million counter offer buyout on the table; Mouchawar and his team believed Amazon was a very suitable home for Souq’s long term vision. -SB
Hewlett Packard one of the biggest technology and computer companies will soon have divided into two separate entities. The completion is supposed to take place November 1, 2015. The company will be a computer company and the other entity will be its printer company.
HP Enterprise will be raking in somewhere around $58 billion in revenue because of the split, whill HP Inc, will see around the $57 billion mark in revenue sales.
HP board approved of the demerger in the beginning of October and the markets rallied in favor of the demerger of the two divisions (printer unit and pc unit). HP stocks have been taking a hit the last few years because of certain improprieties in its business model, so dividing the company maybe suitable for long run performance. -SB