Toronto, Ontario — This weekly Tuesday Ticker is all about the stocks. From Tesla seeing its rates climbing even higher in the wake of Donald Trump’s presidential re-election, to Nissan changing its leadership in an effort to combat struggling financial forecasts, this week’s report highlights the ups and downs at the end of the year.
Tesla takes off
Last Wednesday, Tesla’s stock closed at a record high of $424.77, surpassing its previous 2021 peak and continuing its climb following the United States election.
Since Donald Trump’s re-electrion, Tesla’s shares experienced a 71 percent increase.
This performance marks a significant turnaround after a difficult start at the beginning of this year. Here, the automaker’s shares plunged by 29 percent in the first quarter.
Last week, in pre-trading hours on Monday, Tesla stock climbed to US$404.80 per share.
As of noon on Monday, December 16, EST, Tesla shares traded at US$456.92, up 4.64 percent.
Nissan negotiations
Nissan has announced that it will be executing significant changes to its executive team in an effort to combat ongoing financial and operational struggles.
Specifically, effective January 1, 2025, Jeremie Papin will assume the role of Chief Financial Officer (CFO), replacing Stephen Ma, who will instead head operations in China. Additionally, Christian Meunier, previously the head of Jeep at Stellantis, will take over as head of Nissan Americas.
As noted by online sources, this shakeup follows a recent announcement that Nissan’s profits dropped as a result of poor sales and a failure to successfully implement hybrid and electric vehicle models. Within the past month, the automaker has also cut 9,000 jobs and reduced production capacity by 20 percent.
The automaker has also re-forcasted its annual operating profits as a 70 percent loss.
As of 1:00 p.m. on Monday, December 16, EST, Nissan shares traded at just 351 JPY.
