Prior to the sales, Wilson-Thompson exercised options to acquire 100,000 shares at a price of $14.99 per share, which equates to a total value of $1.499 million. Following these transactions, she now holds 5,400 shares directly. The timing is notable as Tesla (NASDAQ:TSLA) has shown strong momentum, with a 119% price return over the past six months.These transactions were conducted under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which allows insiders to sell a predetermined number of shares at a predetermined time, helping to avoid potential accusations of insider trading. For deeper insights into Tesla's valuation and 23 additional ProTips, visit InvestingPro.
Prior to the sales, Wilson-Thompson exercised options to acquire 100,000 shares at a price of $14.99 per share, which equates to a total value of $1.499 million. Following these transactions, she now holds 5,400 shares directly.
These transactions were conducted under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which allows insiders to sell a predetermined number of shares at a predetermined time, helping to avoid potential accusations of insider trading.
In other recent news, Elon Musk's artificial intelligence venture, xAI, has successfully raised $6 billion in its latest funding round, according to a recent filing with the US Securities and Exchange Commission. This follows a previous funding round in May that valued the company at $24 billion. xAI is also expanding its "Colossus" supercomputer facility, aiming to increase its capacity ten-fold to over one million Graphics Processing Units (GPUs), transforming Memphis into a global hub for artificial intelligence.
In related developments, Tesla Inc. has been the subject of various analyst updates. Guggenheim maintained a Sell rating on the electric vehicle manufacturer's stock, citing risks to its future growth targets. BofA Securities, on the other hand, maintained a Buy rating, highlighting the potential of Tesla's Optimus robot to drive the next wave of automation. Bernstein, however, maintained an Underperform rating on Tesla, pointing out considerable risks associated with the company's strategic focus on developing a dedicated 'Cybercab'.
Global xEV sales hit a record in October with 1.76 million units sold, according to Bernstein. China continued to dominate the xEV market, contributing 71% to global sales. Among the manufacturers, BYD (SZ:002594) led the charge with 492,000 units sold in October, followed by Tesla with 129,000 units.
Finally, Neuralink, the brain technology firm led by Elon Musk, has been cited by the FDA for "objectionable conditions or practices" at its animal testing laboratory. The agency has urged Neuralink to voluntarily correct the issues found, which did not compromise the safety of Neuralink's devices.
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