Panasonic sells their Tesla shares...

[Cabin111]

I've owned Panasonic stock over the years. Never could pull the trigger on Tesla. I wonder if the reason they sold their shares was so they could go into joint ventures with other car companies on batteries??


Thu, June 24, 2021, 4:27 PM
TOKYO (Reuters) -Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year which helped it earn billions of dollars in proceeds to fund new investments, the Nikkei business daily reported on Friday.

Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010, for about 2.4 billion yen ($21.65 million). The stock is now worth $679.82 apiece.

The windfall likely accounts for much of the 429.9 billion yen in "proceeds from sale and redemption of investments" in Panasonic's cash flow statement for the fiscal year that ended in March, the Nikkei said. In the prior year, that figure was 49.13 billion yen.

 

[Pekelo]

Enter the accountant...

The windfall likely accounts for much of the 429.9 billion

Actually it only accounts for 77 B yen. So not much of the 429 B. I wonder what else they sold?

 

[Cuddles]

I've owned Panasonic stock over the years. Never could pull the trigger on Tesla. I wonder if the reason they sold their shares was so they could go into joint ventures with other car companies on batteries??


Thu, June 24, 2021, 4:27 PM
TOKYO (Reuters) -Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year which helped it earn billions of dollars in proceeds to fund new investments, the Nikkei business daily reported on Friday.

Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010, for about 2.4 billion yen ($21.65 million). The stock is now worth $679.82 apiece.

The windfall likely accounts for much of the 429.9 billion yen in "proceeds from sale and redemption of investments" in Panasonic's cash flow statement for the fiscal year that ended in March, the Nikkei said. In the prior year, that figure was 49.13 billion yen.

You sell the top. And if you didn't catch the top, you sell as close to the top as you can.

 

[Tradex]

I wonder if the reason they sold their shares was so they could go into joint ventures with other car companies on batteries??

Yeah right, blah blah blah...

What could possibly prevent you from posting this topic just to entice short sellers to sell, so that you whales can unload your long positions at the expense of hundreds of thousands of retail traders... ?

 

[vanzandt]

Yeah right, blah blah blah...

What could possibly prevent you from posting this topic just to entice short sellers to sell, so that you whales can unload your long positions... ?

I think you're giving "the power of an ET post" a bit too much credit.
But maybe not.
Who knows.
But it is like #7 in weight on the S&P.

 

[Tradex]

I think you're giving "the power of an ET post" a bit too much credit.

Don't be naive my friend, the big money players can post thousands of (seemingly different) posts like that every day, in thousands of forums or blogs, they have plenty of automated software that can do that....

 

[Cabin111]

Don't be naive my friend, the big money players can post thousands of (seemingly different) posts like that every day, in thousands of forums or blogs, they have plenty of automated software that can do that....

In many of my posts I'm long and wordy...Think Grandpa Simpson. If you look at my past history, I've talked about Panasonic before. This is not earth shattering. It just seems like a logical progression for the company.

Also if I recall, about two-three years ago Tesla and Panasonic were ticked/pissed at each other concerning the battery factory in NV...

 

[Cabin111]

Enter the accountant...



Actually it only accounts for 77 B yen. So not much of the 429 B. I wonder what else they sold?

Don't take it up with me...Talk to Reuters!! PCRFY...

 

[Tradex]

In many of my posts I'm long and wordy...Think Grandpa Simpson. If you look at my past history, I've talked about Panasonic before. This is not earth shattering. It just seems like a logical progression for the company.

Also if I recall, about two-three years ago Tesla and Panasonic were ticked/pissed at each other concerning the battery factory in NV...

Oh please, your "informative" post ("Panasonic sells their Tesla shares") was put there for one reason: to entice ET traders (and traders in general), to short Tesla.

Nice try.

How much commission do you get, on average?

Just curious.

 

[maxinger]

Panasonic sells their Tesla shares and
TSLA price gapped up.


anyway, overall, the chart doesn't look that bullish anymore.