No better day of the week than Monday to throw out a little motivation for business people, engineers, inventors, and well….everything that this guy stands for. Although quite difficult to draw a line between his businesses, we will be discussing the current status of some of his companies as well as some plans he has for the future.
Stock Trends Analysis Report – Tesla Motors, (NASDAQ:TSLA): (Released:12/06/16) The Friday closing price for Tesla Motors Inc., Musk’s most recognized success, was $218.79, slipping down $10.57 from the previous day’s close. Their average daily trading volume is down about 2,000,000. There is no doubt that Tesla is in fact a thriving company, yet recently, they have been receiving customer complaints regarding suspension issues in its Model S sedan. Richard Tang’s article reports that Musk acted quite defensively to the complaints arguing the reports were fraudulent, he said 37 of the 40 suspension complaints filed with the U.S. National Highway Traffic Safety Administration were fraudulent because of “false location or vehicle identification numbers were used.” Whether he’s right or not, the stock price did see the consequences on Friday.
Technology Stocks Worth Chasing: SolarCity Corporation (SCTY), Frontier Communications Corporations (FTR): (Released 09/06/2016) SolarCity, America’s #1 full-service solar provider, is also largely owned by Elon Musk; as a matter of fact, he is the largest shareholder and chairman. SolarCity ended Thursday’s trading session with a -0.94% change. The current share price is at $21.23. Despite its slight fall, SolarCity was classified as a “buy” stock by Credit Suisse in last Wednesday’s reports. Additionally, Albert Farrington’s reveals that on June 2nd SolarCity Corporation unveiled a new solar loan program that will allow many customers to immediately pay less for solar each month than they previously paid for utility bills and pocket thousands in additional dollars from applicable tax credits. This interesting new feature proposed by SolarCity could benefit the stock’s performance in the market given that eventually SolarCity’s costs of operation will out pace the cost of competing energy producers. Clearly this stock has caught the eye of investors and rating agencies alike and we can’t help but wonder if this was Mr. Musk’s idea as well….looks like this man is just full of them, and he is determined to materialize each and every single one.
SpaceX Plans to Launch Used Rocket This Fall: (Released: 13/06/16) Apparently, he is also keen to revolutionize space technology, which explains why he founded SpaceX. SpaceX is an aerospace manufacturer and space transport services company, where he serves as both CEO and CTO. SpaceX manufactures and launches advanced rockets and spacecrafts and Anna Verayos’ tells us that it is planning to relaunch one of its Falcon 9 rockets this fall. This should be very important for SpaceX because it could further demonstrate the groundbreaking technology of reusable rockets. SpaceX is now confident in their abilities to produce successful results from this flight having already completed three vertical landings so keep your eyes on the skies this upcoming fall to find out.
Elon Musk Might Soon Have Competition From India: (Released: 13/06/2016) Swarajya Staff’s most recent article proves that there is no such thing as no competition..at least not for long. Other ambitious visionaries are trying to to “out space” Elon in the rocket launching race. Not only is Elon Musk competing with Jeff Bezos, founder of Amazon (NASDAQ: AMZN), but recently there have been reports of competition arising from a group of private firms in India. This group of firms, known as ISRO, are planning on launching a rocket as early as 2020. Currently ISRO deploys the Polar Satellite Launch Vehicles (PSLV) for launching satellites but they are also beginning to set up a consortium of companies to manufacture and launch of space faring rockets. One of the key factors for the success of these space programs is cost. For ISRO the costs total up to $5,000/kg, while SpaceX manages to launch low earth orbits for about half the cost $2,719/kg. We dare question what would happen to Elon Musk’s empire if SpaceX were to go public…
And with time, the threat of competition will only increase; we wonder if this will affect Elon Musk’s ability to materialize his ambitious business ventures, or will they fade away…Only time will tell if this Empire will weaken or strengthen in the future.