2020-11-17

Musk laughed! 51 billion U.S. dollars will”passively” buy Tesla stock, and the company will open up a”SAIC Group”

By yqqlm yqqlm

After the US stock market on November 16, Standard & Poor’s Dow Jones Indices announced that the Tesla stock will be released on December 21 The US stock market in Japan was included in the Standard & Poor’s 500 stock index before the market opened. The Wall Street Journal commented that this means that Tesla is one step closer to becoming a mainstream automaker.

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Image source:S&P Dow Jones Indices Announcement

Affected by the above news, Tesla US stocks rose nearly 13%after the opening on the 17th, and the market value increased by about 49.2 billion US dollars (about 322.5 billion yuan), which can be described as a rise of”SAIC Motor” (the latest market value is 304.5 billion yuan). Tesla opened at $460.26 per share, and its latest market value exceeded $430 billion.

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Image source:Wind

According to the latest SEC document, Musk holdsTesla 20.8%of the shares, calculated at the opening price of US stocks on the 17th, this part of the stock has been worth nearly 90 billion US dollars.

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Image source:Visual China

Under the drive of Tesla , China’s new energy auto stocks rose collectively after the opening, Nio Auto rose 4.65%, Xiaopeng Motors rose 4.94%, and ideal cars rose 3.97%.

May attract 51 billion US dollars of funds to passively buy

According to Xinhua News Agency, Tesla will be one of the largest heavyweights newly included in the S&P 500 in the past 10 years. Reuters estimates that the index fund’s relocation and share swap may lead to a transaction volume of US$51 billion. This means that funds tracking the S&P 500 will sell existing S&P 500 stocks with a market value of approximately US$51 billion, and then use the money to buy Tesla stock. Tesla accounts for approximately 1%of the S&P 500.

Except for passive investment funds such as index funds, other active investment funds will decide whether to buy TeslaThe choice of stocks.

On November 30, 1999, Yahoo was announced to be included in the S&P 500. Yahoo’s stock price rose 64%in the next five trading days.

Although production is much lower than Toyota Motor of Japan, General Motors of the United States and Volkswagen Group of Germany, Teslaspan>The stock price has risen by more than 400%so far this year, making it the world’s largest auto company by market value. The current market value of Tesla exceeds US$400 billion, which is more than 95%of the existing S&P 500 constituent stocks .

As for which S&P 500 constituent stock will be replaced by Tesla, December It can only be announced 21 days ago.

Opponents:Tesla stock is in a bubble

According to CBN, investors who oppose the inclusion of Tesla in the S&P 500 Index believe that , Tesla’s stock is in a bubble, and it should not be included in the benchmark at the current stock price level. Pu 500 Index.

Erik Gordon, a professor at the Ross School of Business at the University of Michigan, warned in an email that the Tesla’s inclusion in the S&P 500 index is not good for conservative investors. Professor Gordon said:”Monday Tesla’s after-hours stock price increase has already implied that it will be included in the index. It will further boost the stock price bubble, which is not good for retirees and other conservative individual investors who put money into index funds.

Stanphyl Capital’s letter to investors in October According to China, Tesla does not have any”moat”. As far as electric vehicle technology is concerned, Tesla has no meaningful patents. Unlike Tesla, traditional automakers have decades of”experience moat” and these companies know how to be sustainable , Profitable mass production, distribution and service of high-quality cars, and use the profits of traditional cars to subsidize the research and development costs of electric vehicles.

The agency also pointed out that “if the sale of carbon credits is not included, Tesla will be Loss again this year-just like Tesla’s financial report for each of the past 17 years.The demand for Tesla cars can only be sustained through continued price cuts.”

Since the end of June this year, Tesla‘s bulls began to far outweigh the bears, and the market warned that this was a sign of a bubble.

Five consecutive quarters of profitability

In September this year, Tesla achieved four consecutive quarters of profit for the first time and was eligible to be included in the S&P 500 index, but it unexpectedly failed.

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Image source:Every photo by reporter Li Xing

And on October 22, Tesla announced its third quarter 2020 financial report. The report showed that the third quarter net profit reached 143 million US dollars, and has achieved five consecutive quarters of profit.

In terms of revenue, in the third quarter, Tesla achieved total revenue of 8.771 billion US dollars, an increase of 39%over the 6.303 billion US dollars in the same period last year, and an increase of 45%over the 6.036 billion US dollars in the previous quarter.

In terms of automotive business, in the third quarter, Tesla achieved automotive sales revenue of US$7.611 billion (including 397 million U.S. dollars is the income from the sale of carbon emission credits), an increase of 47%month-on-month and 42%year-on-year. Auto sales profit was US$2.105 billion, an increase of 60%month-on-month and 72%year-on-year.

In terms of production and delivery, Tesla delivered 139,300 vehicles from July to September , Produced 145,036 cars, setting a new historical record.

(This article is for reference only and does not constitute investment advice, so you should bear your own risk)

EditEdition|Li Jinghan Du Bo

Proofreading|Sun Zhicheng

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Xinhua News Agency, China Business News, China Fund News, Via APP