|Bid||0.000 x 1100|
|Ask||0.000 x 800|
|Day's Range||58.09 - 58.26|
|52 Week Range||51.21 - 64.75|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.03|
|Expense Ratio (net)||0.63%|
VanEck announced today preliminary yearend distribution estimates for its VanEck Vectors® equity exchange-traded funds.
The tweet heard around the capital markets regarding Tesla CEO Elon Musk's idea of taking the electric auto manufacturer private is now landing him in hot water as the SEC has filed a civil lawsuit against Musk, alleging he issued "false and misleading" statements and failed to communicate material company events to regulators. Shares of Tesla (TSLA) took a deep dive as the stock plummeted over 12% as of 11:00 a.m. ET, hurting ETFs with heavy weightings, such as the VanEck Vectors Global Alt Energy ETF (GEX) --down 1.24%, ARK Industrial Innovation ETF (ARKQ) --down 1.34% and the First Trust NASDAQ Cln Edge GrnEngyETF (QCLN) --down 1.11%. Downward pressure on Tesla's share price was also applied as investors are positing whether the SEC lawsuit could bring about an abrupt departure of Musk on a temporary or permanent basis.
ETFs with heavy weightings in Tesla stock were mostly down, such as the VanEck Vectors Global Alt Energy ETF (GEX) --down 0.94%, ARK Industrial Innovation ETF (ARKQ) --down 0.22% and the First Trust NASDAQ Cln Edge GrnEngyETF (QCLN) --down 0.61% as of 11:00 a.m. ET. Musk's behavior on the podcast is a culmination of what has been tumultuous times for the electric carmaker founder, which started when he first sent a tweet that he was considering taking the company private at a price of $420 a share, citing that it was "the best path forward." The decision to privatize Tesla halted trading of the company's shares for 92 minutes, leaving Tesla investors in a panic.
As in most cases when you mix social media and market influencers, it took just one tweet to send the capital markets spinning yesterday when Tesla co-founder and CEO Elon Musk announced he was mulling the idea of taking the Palo Alto, California-based company private--a move that would affect exchange-traded funds with the heaviest weightings of its stock, leaving them in limbo as they await Musk's next move. ETFs affected include VanEck Vectors Global Alt Energy ETF (GEX) , ARK Industrial Innovation ETF (ARKQ) and First Trust NASDAQ Cln Edge GrnEngyETF (QCLN) .
The alternative energy space has not been as lucrative as environmentally-conscious investors would like. And with the Trump administration promoting legislation that would cut resources for alternative energy, the immediate future for the sector could be turbulent.
Solar stocks and related solar ETFs are suffering through a global supply glut of solar panels after China halted plans for about 20 gigawatts of domestic installations. The Invesco Solar ETF (NYSEArca: TAN), ...
Tesla told 9 percent of its 46,000-employee workforce on Tuesday that it will cut salaried positions in a reorganization measure that will affect 4,100 jobs. The cuts were looming as Tesla CEO Elon Musk warned employees in mid-May that the company would undergo a thorough reorganization measure that would include flattening its current management structure. Musk tried to put current employees at ease, promising that company growth lies ahead and hiring will commence.
After an eight-year US economic recovery, many investors are asking whether growth will continue. Beyond the immediate challenges, we think the long-term outlook will be shaped by how environmental and social sustainability are addressed. Recent ...
After the closing bell on Wednesday, Tesla Inc (NASDAQ:TSLA) reported better-than-expected results for the first quarter of 2018. The electric carmaker outpaced the earnings and revenue estimates and promised to be profitable in the second half of the year with the Model 3 production target on track.Source: Windell Oskay via Flickr (Modified)Tesla Q1 in Focus