Some advertisers are concerned that Mr. Musk may scale back content moderation, which they worry will lead to an increase in objectionable content on the platform. Others are temporarily halting their ads because of the uncertainty in the company as top executives leave and Mr. Musk is considering a number of changes, some of the … Read more
Some advertisers are concerned that Mr. Musk may scale back content moderation, which they worry will lead to an increase in objectionable content on the platform. Others are temporarily halting their ads because of the uncertainty in the company as top executives leave and Mr. Musk is considering a number of changes, some of the … Read more
The super rich are spending more money than ever on smart cars. That doesn’t always make them super profitable to manufacture. Ferrari reported “remarkable order intake” along with third-quarter earnings on Wednesday. The luxury automaker doesn’t disclose reservations, but orders are still running for its Purosangue model — its long-discussed answer to sports cars, launched … Read more
The United Auto Workers is seeking federal permission to hold an election at a new Ohio battery plant co-owned by General Motors co. and claims that the factory’s owner has opposed the workers’ efforts to organize. The UAW said Monday that a majority of the plant’s 900 workers have signed cards requesting that the union … Read more
TuSimple Holdings Inc., tsp -45.17% a self-driving truck company, said Monday that it had fired its CEO and co-founder, Xiaodi Hou. The San Diego-based company said in a news release and securities filing that its board on Sunday had ousted Mr. Hou, who was also chairman of the board and chief technology officer. Sir. Hou … Read more
Volkswagen VOW -1.72% risk learning the wrong lesson by taking Porsche public. In his first quarterly call with investors since taking the top job at VW, Chief Executive Oliver Blume said on Friday that the “huge success” of last month’s initial public offering of Porsche would be a “role model” for all the group’s brands. … Read more
Luxury car brands should be better long-term investments than mass market ones. That doesn’t mean they’re recession-proof. Less than two weeks after its initial public offering, the Porsche POAHY -2.73% has already overtaken its majority shareholder Volkswagen VOW -1.06% in terms of market value. The comparison is simplistic, given differences in capital structure, but it … Read more
Ahead of Volkswagen’s IPO of Porsche AG in a few weeks, the hedge fund Millennium International Management has built up a large short position in Porsche SE. According to data from research firm Breakout Point, Millennium disclosed a position representing 0.6% of the company’s shares on September 14th. A rough estimate based on current market … Read more
BERLIN—Porsche AG shares are set to begin trading Sept. 29 in one of the biggest European IPOs in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent company, German auto giant Volkswagen AG, priced the public offering of preferred shares in line with average … Read more
With the exception of Tesla automakers are out of favor with investors. Their shares have some of the lowest price/earnings multiples in the stock market. Concerns include an expensive transition to electric vehicles over the next decade, and the durability of currently high profitability with a potential recession looming in late 2022 or 2023. Volkswagen … Read more