the purchase of 3 million shares in the electric car maker at the end of December, Tesla's stock has plunged 42%, which would make the company the worst performer in the S&P 500 this year if it were in the index. Ellison is Tesla's second-biggest individual holder, behind only CEOThe stock's drop, tied to Tesla's store closings and layoffs, Musk's clash with regulators and trade tensions between the U.S.
Ellison's investment in Tesla was not entirely about financial gain. At the end of 2018, Tesla added Ellison and former Kellogg executive Kathleen Wilson-Thompson to the board as part of a settlement with the SEC, which had challenged Musk's statement on Twitter that he had "secured" funding to take the company private at $420 a share.
Ellison expressed his bullishness on the company in October, when he revealed at a meeting with financial analysts that Tesla was his second largest investment. No analyst asked about Tesla, but he felt compelled to mention it. "I'm very close friends with Elon Musk, and I'm a big investor in Tesla," Ellison said. "And so Tesla had a good day. And I think Tesla has a lot of upside. Do you know the most popular car by revenue in the United States over the last three months? The number one car in the United States by revenue. The Tesla Model 3 outsold in revenue — forget about Ford and GM, they weren't even close — outsold Honda and Toyota.
Ellison, who started Oracle in 1977, can easily afford the loss. With a net worth of over $57 billion, thanks to his
He’s about to buy another 3 million shares
Maybe it’s the bottom
If Tesla can fix all their issues their stock is worth 780
Not fast enough, Tesla
It's on sale! Buy more larryellison
if he believes in the Tesla story he can buy more. If he doesn't then he can sell. Until then he hasn't lost or gained anything and therefore the story is fake news!
Rip
Also, anyone and everyone else’s investment in almost every company got crushed too from this China Trade War, so its not just Tesla
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