LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Morgan Stanley halts research coverage of Tesla, shares rise

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Aug 21, 2018
09:45 pm
Reuters
RELATED NEWS
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21
Budget 2021: HDFC Bank, other banks hail FM Sitharaman for these reasons; check details Budget 2021: HDFC Bank, other banks hail FM Sitharaman for these reasons; check details

Brokerage Morgan Stanley has suspended equity coverage on Tesla Inc, hinting that the U.S. bank may be doing business directly with the company as it explores options to go private, pushing the electric carmaker`s shares up as much as 5 percent on Tuesday.

Morgan Stanley`s move comes a week after Goldman Sachs Group Inc stopped its coverage of Tesla last week shortly before confirming it was acting as a financial adviser on a matter related to the automaker.

Morgan Stanley`s website showed Tesla had been moved to "Not Rated" from "Equal-weight" on Tuesday without providing further details on the reason for dropping coverage.

Shares of Palo Alto, California-based Tesla rose to a high of $324.79 on Tuesday, bouncing off a three-month low on Monday when JP Morgan slashed its price target on the company by $113 and said it believed Chief Executive Elon Musk had not secured funding for taking Tesla private.

Musk had tweeted early last week that he was working with buyout firm Silver Lake and investment bank Goldman Sachs as advisers in his efforts to secure tens of billions of dollars in funding and take the car maker private.

Morgan Stanley declined to comment, while Tesla did not respond to a request for comment.

Norway`s wealth fund, a Tesla investor, said on Tuesday that its rules would allow it to stay on as an investor in the carmaker if it delists from the Nasdaq exchange.

Musk has given no details of funding since saying in a blog on Tesla`s website a week ago that he was in discussions with Saudi Arabia`s sovereign wealth fund and other potential backers but that financing was not yet nailed down.

His tweet earlier this month that he was considering taking Tesla private and that he had secured funding prompted investor lawsuits as well as an investigation by the U.S. Securities and Exchange Commission.

Separately, Musk, a prolific Twitter user with 22.4 million followers, deleted his Instagram account, which had about 8 million followers.

Musk has been criticized for his erratic behavior on social media, with some investors urging him to refrain from making controversial comments.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21
Budget 2021: HDFC Bank, other banks hail FM Sitharaman for these reasons; check details Budget 2021: HDFC Bank, other banks hail FM Sitharaman for these reasons; check details

LATEST NEWS

Massive Update! PUBG Mobile 2 may launch next week | Check availability, download link and more NOW!

Stocks to buy with Anil Singhvi: Market analyst Vikas Sethi picks Mahindra EPC, Bandhan Bank for big gains

Friends, fellow athletes react to Tiger Woods car crash

BOOSTER dose for Yes Bank! CDP rates ‘A-' (Leadership Band); achieves Environmental Management System certification for eighth year

SBI Special Senior Citizen Scheme: GREAT RELIEF! State Bank of India makes retirement merrier for pensioners; check details at sbi.co.in

7th Pay Commission latest news: Central government employees alert! Your DA, PF, Gratuity, other allowance may change next fiscal

Realme Narzo 30A, Realme Narzo 30 Pro 5G launched in India - Check Price, Camera, Specs, Offers and more!

Big message! PM Narendra Modi says government has no business to be in business

Nureca IPO allotment status: Share subscription finalised! Check linkintime, bse, ipo registrar website - Know listing date

Anil Singhvi decodes Bitcoin status as just one tweet by Elon Musk breaks cryptocurrency by a massive $8000

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved