It’s been a charmed few years for Tesla Motors TSLA +2.1% and founder Elon Musk, and the electric car company’s stunning stock market success has drawn praise and admiration. It has also prompted some profit-taking and Tuesday afternoon Tesla partner Daimler became the latest to ring the register.
Daimler announced it sold its 4% stake in Tesla for about $780 million, 10 months after agreeing to an equity collar that hedged its position in the automaker’s volatile shares At the time, Daimler said it expected to maintain the equity investment in Tesla for at least three years, but apparently this year’s gains were enough to convince the German carmaker to get out while the getting is good.
http://www.forbes.com/sites/stevesc...s-in-tesla-equity-stake-praises-bold-partner/
Hopefully, Toyota is next.
Daimler announced it sold its 4% stake in Tesla for about $780 million, 10 months after agreeing to an equity collar that hedged its position in the automaker’s volatile shares At the time, Daimler said it expected to maintain the equity investment in Tesla for at least three years, but apparently this year’s gains were enough to convince the German carmaker to get out while the getting is good.
http://www.forbes.com/sites/stevesc...s-in-tesla-equity-stake-praises-bold-partner/
Hopefully, Toyota is next.