NEW YORK, NY / ACCESSWIRE / October 8, 2018 / Tesla shares continued their descent on Friday as Musk’s tweets may be affecting the company’s stock price. He insulted the SEC and in return was met with fans begging him to stop tweeting. Shares of Delphi Technologies also slipped into the red on news that it has changed its CEO and that it cut 2018 guidance.
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Delphi Technologies PLC
Tesla, Inc. shares were down this past Friday, closing the day down 7.05% on nearly 18 million shares traded. The electric vehicle maker has been on a downward spiral this month. CEO Elon Musk was in hot water again after insulting the SEC and calling it the "Shortseller Enrichment Commission." His tweet has resulted in some fans begging him to stop tweeting. One user, @OhSnapDrewsHere, tweeted, "I don’t have much, but I believe in you and your vision. Unfortunately, I invest what little I have into @Tesla and I continuously lose months worth of savings due to your tweets. Please think of us small people. Another user, @jameade87 tweeted, "Dude, your Twitter account is doing far more damage to my TSLA stock holdings than the SEC or shorts ever have, and it's been that way for a long time. The stock price is basically a roller coaster between positive Tesla news and you tweeting dumb stuff." Musk responded, "Hang in there. If you are truly long-term, it will be fine."
Tesla, Inc. Research Report at:
Delphi Technologies PLC shares were down almost 13% on Friday with about 4.4 million shares traded. The manufacturer of engine propulsion solutions saw its shares drop after its CEO agreed to step down and the company revised its full-year outlook. The company said on Friday that Chief Executive Liam Butterworth is stepping down to pursue other opportunities. He had the position for less than a year. In his place, Delphi named Hari Nair as interim CEO, effective immediately. "We are pleased that a leader of Hari's caliber and experience has agreed to lead the company on an interim basis," said Timothy M. Manganello, non-executive Chairman of the Board of Directors. "With more than three decades of experience, Hari has a deep understanding of our industry and the opportunities ahead of us. Our experienced Board will continue to lend its expertise to Hari and the organization while we identify our next CEO and will ensure a smooth transition. On behalf of the Board, I would like to thank Liam for his service and contributions to the company." The company also said that it would cut 2018 revenue guidance due to "challenging industry dynamics," among other reasons. The company is expecting 2018 revenue to be flat compared to the prior year. The company had previously expected a growth of 2% to 4% growth. The company also lowered its adjusted operating margin guidance to a range between 11.3% to 11.5% from prior guidance of 12.1% to 12.3%.
Delphi Technologies PLC Research Report at:
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