DEVELOPING Defence rests without Donald Trump taking the witness stand in his New York hush money trial
Donald Trump's lawyers rested their defence Tuesday without the former president taking the witness stand in his New York hush money trial.
Tesla's stock price was set to drop at the opening bell Thursday, but not because of anything Elon Musk tweeted about demand for electric vehicles, 'full self-driving' features, SpaceX updates, silly memes or his legal battle with Twitter.
The electric car company completed a 3-for-1 stock split after the closing bell Wednesday. So one share now costs a third of what it did a day ago. Tesla closed around $891 on Wednesday, which means it was trading a little under US$300 Thursday.
Tesla approved the split in June, its second such split in the past two years. But before you start celebrating about how one Tesla share is now "cheaper," keep in mind that nothing changes with Tesla's valuation.
The company is still worth more than $930 billion after the split. Shares continue to trade at a lofty multiple of more than 70 times 2022 earnings forecasts — a huge premium to the valuations of traditional auto companies like Ford, GM, Volkswagen and Toyota.
And the stock is still down about 15% this year, as investors worry about growing competition in the EV market from traditional automakers as well as Musk's many possible distractions. (SpaceX. The Boring Company. The Twitter takeover soap opera. The list goes on.)
The only thing that the stock split changed is that existing investors now own three times as many shares of Tesla trading at one third of the price they ended at on Wednesday.
That includes Musk, the world's richest person with a net worth of about $264 billion, according to Forbes. Musk still owns approximately 15% of Tesla's common stock.
Companies with high share prices often split their stocks to make the cost of one share more affordable for individual investors. The rationale is that some investors might be more inclined to buy a stock if it is trading at a lower price.
Amazon, Shopify, Google owner Alphabet and meme stock GameStop have all done splits in the past few months.
Donald Trump's lawyers rested their defence Tuesday without the former president taking the witness stand in his New York hush money trial.
One passenger was killed and 30 injured after a Singapore Airlines SIAL.SI flight from London hit severe turbulence en route on Tuesday, forcing it to make an emergency landing in Bangkok, officials and the airline said.
Anything is possible this week, as far as Canada's weather is concerned, with forecasts ranging from scorching heat in some parts of the country to rain and snow in others.
Canada's annual inflation rate slowed to a three-year low of 2.7 per cent in April, matching expectations, and core measures continued to ease, data showed on Tuesday, likely boosting chances of a June interest rate cut.
Riley Keough, the granddaughter of Elvis Presley, is fighting plans to publicly auction his Graceland estate in Memphis after a company tried to sell the property based on claims that a loan using the king of rock ’n’ roll's former home as collateral was not repaid.
Donald Trump's reelection campaign called 'The Apprentice,' a film about the former U.S. president in the 1980s, 'pure fiction' and vowed legal action following its premiere at the Cannes Film Festival. But director Ali Abbasi is offering to privately screen the film for Trump.
Nestle NESN.S will market a new, US$5 line of frozen pizzas and protein-enriched pastas in the United States which it says it designed specifically for people taking drugs such as Wegovy or Ozempic for weight loss.
If you've been to a party lately and haven't seen someone drinking a BORG, you're likely not partying with college students.
As the month-long boycott of Loblaw-owned stores wears on, small independent food retailers and alternative grocery options say they're seeing a boost in traffic and sales.
For those who go to their local libraries often, they know there’s much more to their library than just borrowing books. Local libraries in Atlantic Canada are now renting out a broader range of items for people.
Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
A B.C. woman says her service dog pulled her from a lake moments before she had a seizure, saving her life.
A Starbucks fan — whose name is Winter — is visiting Canada on a purposeful journey that began with a random idea at one of the coffee chain's stores in Texas.
Members of Piapot First Nation, students from the University of Winnipeg and various other professionals are learning new techniques that will hopefully be used for ground searches of potential unmarked grave sites in the future.
ALS patient Mathew Brown said he’s hopeful for future ALS patients after news this week of research at Western University of a potential cure for ALS.