Coinspeaker All Eyes on Tesla: Will It Pass through $100B Market Cap?After closing Monday at $524.86, Tesla stock accelerated on Tuesday in premarket to yet another all-time high in just a span of days. At the time of writing the price was growing by 1.74% to $534.With the electric car maker’s market cap now crossing the psychological margin of $90 billion, the company’s CEO, Elon Musk is now pretty close to unlock the first tranche (out of 12) of his generous pay package that was announced in 2018.Musk’s compensation plan included numerous performance targets in the compensation plan and the only one that hasn’t been reached – to reach a market cap of $100 billion – is pretty near. At the time of writing the market cap was hovering around $94.6 billion.Among other milestones, Tesla has made annual revenues of $20 billion which was one of the operational targets. The company also already reached an adjusted annualized EBITDA of $1.5 billion by 2019’s third quarter.It’s Not at ‘What Day’, but at ‘What Hour’So, we can say it is pretty much a question of a day when Tesla hits the top.Each tranche in Musk’s compensation plan will see the CEO gets 1% of Tesla’s shares. There are exactly 173,720,801 Tesla shares, as of March 2019. Once the target is completed, Musk will get at least 1.7 million shares of the company.But why did we say the win is close. To reach a market cap of $100 billion each of Tesla’s shares would have to be worth over $575. Since it seems to be growing rapidly, it is a question of a day when it will happen. Since the start of the year, the stock has gone up more than 20%.Some conspiracy theorists keep saying Musk could pump and dump. However, there is no logical explanation why he would do that. The compensation plan clearly says that Musk’s reward of shares must be held for a period of five years before being sold. If Tesla’s performance were to decline to result in the shares falling, Musk would lose as well.At the time of writing, Musk owns 34,085,560 shares of Tesla. At the current share price, this translates to a value of around $17,4 million. At the beginning of this year (only two weeks ago), this stake was valued at $14,259,012,314. In a span of 14 days into the New Year, Musk’s net worth increased by more than $3 billion.Tesla’s Good Job in ChinaHowever, let’s not forget that the stock rise of the electric carmaker company above $500 came amid positive news regarding Tesla’s good job in China. Last month it was reported that Tesla is signing major agreements with the banks of China. The sources then claimed that the deals are worth 10 billion Chinese yuan. The loan is 9 billion and some of the funds will be used to pay debts. On 4 March 2020 Tesla will pay China approximately 3.5 billion yuan.The placement of Tesla’s new plant in the heart of Asia will allow a huge cost cut. For instance, the company won’t have to pay import fees set by China in regards to the U.S. cars. In the documents, we see few names of the banks who backed Elon Musk’s ideas and initiative: Industrial and Commercial Bank of China, Shanghai Pudong Development Bank, Agricultural Bank of China and others.Also, it’s important to stress that with tax breaks and subsidies offered domestically-produced EVs reduce the price of a Model 3 by nearly $20,000.Tesla sales have also increased dramatically. Earlier this year it was revealed that it delivered 50% more cars in 2019 compared to 2018.All Eyes on Tesla: Will It Pass through $100B Market Cap?
Freewallet Family Launches Update 2.0 for 16 Standalone Wallets
Tuesday January 21, 2020
Coinspeaker Freewallet Family Launches Update 2.0 for 16 Standalone WalletsThe Freewallet Family has launched version 2.0 for 16 standalone wallets. The company updated 11 single-currency applications on Android and 5 apps on iOS for a total of 11 coins and tokens.The version 2.0 is available for Ardor, Bitcoin Gold, Dash, IGNIS, Lisk, NEO, NXT, Tether, […]
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