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

Tesla has a lot of shareholders and one of them was until recently Japanese Panasonic. This company is closely related to the automaker, as it stood in the early years of the company and was interested, for example, in 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.

Panasonic

I 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 eventually had about $7 million due to the split. In total, Panasonic invested about $ 30 million at that time. However, in the last fiscal year ending in March 2021, he sold all his shares and was about to receive them 3,6 m. American dollar. It follows that he sold them for $510-515 per share. We are not sure, but they were only that value on November 23, 2020, they were very close to it in the last days of August 2020. Remember that Tesla shares reached a record value of $900 in the respective period and are now at $672.

Even though Panasonic didn’t sell the stock near its all-time high, it was still 120 times the original investment, which is a pretty impressive number. According to Nikkei, he will use this amount to pay the acquisition amount for Blue Yonder. It’s developing an AI program and the deal will cost $7 billion, so the money from the Tesla stock sale is definitely worth it. The company also wants to use it for more investments for future development and increase its efficiency.

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