Daimler was a major shareholder of Tesla stock, but sold its shares in 2014
The 5 million shares are worth billions today
Daimler made a critical financial mistake In 2014 that still hurts today.
Investing isn’t easy and we all have buy and sell orders we’d like to take back. Our miscalculations are probably not worth $7.3 billion, however.
That’s how much the 5 million shares of Tesla owned by Daimler would be worth today if they hadn’t been sold off in 2014. Their current value is equivalent to two-thirds of Daimler’s net cash holdings, according to Bloomberg.
Automakers have been hit hard by the coronavirus pandemic. There’s no question $7.3 billion would be a welcomed addition to Daimler’s financial statements. On the other hand, the Mercedes-Benz owner has shown above average results despite the difficult market. It’s shares have rallied 80 percent since falling in March.
Mercedes-Benz sales have increased YOY in June, a rare sight in an industry has has seen massive sales drops in recent months.
Goes to show that anyone can make mistakes when it comes to the stock market. Hopefully this makes you feel better about those Amazon shares you sold off 10 years ago.