Panasonic sold all of its Tesla shares, gaining $ 3.6 billion

Tesla has a lot of shareholders and one of them was until recently Japanese Panasonic. This company is quite connected with the carmaker, as it stood in the first years of the company and took care, for example, of the development and production of batteries for electric cars. Tesla. The relationship between the two companies has not always been rosy, but they continue to work together. The recent sale of all Tesla shares owned by Panasonic is not expected to change anything.

You bought 1.4 million units in 2010 for just $ 21.15, and we’re talking about the amount before the split. Including a 1: 5 split, it would be worth $ 4.23 per share today, which it eventually had around $ 7 million due to the split. In total, Panasonic invested about $ 30 million at the time. In the last financial year ending March 2021, however, he sold all his shares and was to receive them for them 3,6 mld. USD. It follows that he sold them for about 510-515 USD per share. We are not sure, but they were only of such value on November 23, 2020, they were very close to it in the last days of August 2020. Recall that Tesla’s shares reached a record value of $ 900 in the period in question and are now at $ 672.

Even though Panasonic did not sell the shares close to the all-time high, it was still 120 times the original investment, which is a very nice number. According to Nikkei, he is to use this amount to pay the amount for the takeover of Blue Yonder. It is developing software for artificial intelligence and the transaction is to cost $ 7 billion, so the money from the sale of Tesla shares is definitely worth it. The company also wants to use them for further investments for future development and increase its efficiency.

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Source: Svět hardware by www.svethardware.cz.

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