Tesla, Ford Attract New Investments from Soros's Fund

Dow Jones2022-08-13

Billionaire investor George Soros's investment fund has bought stakes in Tesla Inc. and Ford Motor Co. and added to existing stakes in EV makers Lucid Group Inc. and Nio Inc., according to a filing late Friday.

The fund acquired 29.5 million shares of Ford in the reporting period ended in June, the filing showed It snapped up nearly 30,000 Tesla shares in a new position as well.

New positions for the fund also included bets on Twitter Inc., the social-media company in the middle of a dispute with Tesla Chief Executive Elon Musk over their soured deal.

It offloaded some of its holdings in Rivian Automotive Inc., however, ending the reporting period with slightly less than 18 million shares, from previous holdings of around 20 million shares.

New stakes for the fund also included Las Vegas Sands Corp. and Uber Technologies Inc.

The fund sold all of its shares of Bank of America Corp. and Citigroup Inc. as well as gaming company Take Two Interactive Inc. , among others.

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Comments

  • chtee
    2022-08-15
    chtee
    Good news !
  • LWZ2218
    2022-08-15
    LWZ2218
    Gogogo !
  • LWZ2218
    2022-08-15
    LWZ2218
    Gogogo !
  • adonis123
    2022-08-15
    adonis123
    DYODD
  • Ccchia
    2022-08-15
    Ccchia
    K
  • PearlynCSY
    2022-08-15
    PearlynCSY
    Tesla has made over three million cars, CEO Elon Musk tweeted on Sunday. “Congrats Giga Shanghai on making millionth car! Total Teslas made now over 3M,” Musk tweeted. Musk’s announcement comes after months of lockdowns and parts shortages in China that threatened Tesla’s vehicle production, and suggests that Tesla’s Shanghai factory is producing a significant number of new vehicles after opening in 2018 and subsequent years of investment. The total vehicles achievement celebrated by Musk on Sunday comes after Tesla’s reported deliveries, the closest approximation for sales, have been rising in recent quarters. In July, Tesla said that it delivered 254,695 vehicles in the second quarter, a 26.5% rise year-over-year. Tesla stock is down nearly 25% in 2022 as investors have been reassessing
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