Musk Skips Deposition in Investor Lawsuit Over Twitter Buyout
Elon Musk stood up attorneys who flew to Washington to question him under oath in an investor suit alleging his on-again off-again move to buy Twitter Inc. in 2022 was a bid to manipulate its stock price, according to a court filing.
California-based lawyers for the plaintiffs said in the filing that Musk's attorney told them 20 minutes after the scheduled time for his deposition April 3 that he wouldn't be attending. Despite a court order setting the deposition date, 'this was all for naught,' they said, adding that they're having difficulty rescheduling it.
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17 minutes ago
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Axon roadshow stops in Grand Chute, showcasing law enforcement technology
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22 minutes ago
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Zin Technologies parent Voyager aims to raise $316M in IPO
Story Highlights Voyager Technologies aims to raise $274-316 million in IPO. Voyager owns 67% of Starlab, replacing ISS in 2029. Voyager-owned Zin Technologies is Northeast Ohio's tie to Starlab. A Denver-based space company vying to replace the International Space Station hopes to generate between $274.2 million and $316.4 million in its initial public offering, the company revealed in new IPO documents Monday. Voyager Technologies, which filed its preliminary prospectus with the U.S. Securities and Exchange Commission on May 16, said it expects to offer its shares with a midpoint price of $27.50 per share, or between $26 to $29 each. The company plans to sell 11 million shares of its stock, it said. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events When it goes public, Voyager's stock will be sold on the New York Stock Exchange under the ticker symbol VOYG. The company is the majority owner of Starlab, a commercial space station currently meant to launch in 2029 to replace the International Space Station, which is expected to reach the end of its operational lifespan in 2028. Zin Technologies in Middleburg Heights has long been Northeast Ohio's tie to Starlab. Voyager acquired Zin Technologies in 2023 because of its "storied history" of working with NASA for more than 50 years on projects including the International Space Station but has since laid off about 150 Zin workers. In its most recent filings, Voyager said it would use the proceeds to invest in itself: growth initiatives, general corporate purposes, debt payments, administrative expenses, research and development programs, and pursuing mergers and acquisitions. Voyager's founder and CEO Dylan Taylor predicted in 2021 that the company would go public. The U.S. Government is by far Voyager's biggest customer. Depending on the quarter, anywhere from 68.7% to 88.2% of the company's funding comes from government contracts. Since its founding in 2019, it's been awarded roughly $800 million in contracts and Space Act Agreements. 25.6% of its revenue came exclusively from NASA by the end of 2024. Last year, Voyager Technologies made $144.2 million in revenue alongside a net loss of $65.6 million. It owns 67% of Starlab, a joint venture with Airbus, which owns 30.5%. Palantir, which designed the station's operating system, Mitsubishi and MDA Space own the rest of the joint venture. Starlab is set to be launched by SpaceX's Starship. Unlike the ISS, which was assembled piece by piece in orbit with multiple launches, Starlab will be fully built on Earth and launched in a single rocket. This cuts down on the cost, as launches are hideously expensive, but a single launch presents its own risks, according to the prospectus. Voyager projected Starlab to cost $2.8 billion to $3.3 billion to develop. NASA already contributed a Space Act Agreement worth $217.5 million to the project, though $70.3 million of those funds have yet to be delivered, according to the prospectus. In 2024, the company's revenue was split roughly in half between its space and defense wings. Its biggest customers and partners are NASA, the U.S. Air Force, Palantir, Lockheed Martin, Airbus and the U.S. Air Force. As of March, the company employed 514 people across 10 locations, with a significant chunk of the workforce in San Diego and Washington, D.C. Sign up for the Business Journal's free daily newsletter to receive the latest business news impacting Cleveland.
Yahoo
24 minutes ago
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Tesla Stock Is Going Parabolic. Is Now the Time to Buy?
Tesla investors are excited as CEO Elon Musk steps away from his public sector duties and returns his focus to the company. In addition, Tesla will be launching its autonomous vehicle fleet, Robotaxi, in its first market later this month. While there is a lot of excitement surrounding Tesla right now, the stock price has gotten ahead of itself. These 10 stocks could mint the next wave of millionaires › For the last few weeks, the stock market has shown signs of strength as new trade deals come together in response to President Donald Trump's tariff policies. In May, the S&P 500 and Nasdaq Composite rose 5% and 8%, respectively. Among some of the biggest gainers were artificial intelligence (AI) stocks, particularly those in the "Magnificent Seven." Within the Magnificent Seven, Tesla's (NASDAQ: TSLA) 23% surge last month set it apart from its peers. Let's dig into Tesla's recent surge and assess whether these gains are sustainable. Is now the time to get in on the action? Generally speaking, a company's share price should be driven by the performance of the underlying business. However, Tesla's business is not in the best shape right now. Its electric vehicle (EV) segment -- its core source of revenue and profits -- is decelerating, and rising competition from domestic manufacturers such as Rivian and overseas rivals like BYD are adding a new layer of complexity on the customer acquisition front. But Tesla's stock price throughout 2025 has not been closely related to how the actual business is performing. Rather, investors have been both punishing and rewarding Tesla stock based on actions taken by the company's controversial CEO, Elon Musk. For much of 2025, Elon Musk has had his focus diverted away from Tesla due to his role as a special government employee for the Trump administration, specifically in the Department of Government Efficiency (DOGE). Musk's time in Washington has been polarizing, and his role with DOGE has contributed to Tesla's mounting challenges with consumer demand. As recently as mid-April, the stock was down over 50% from its all-time high. It is against this backdrop that Musk recently announced he is stepping away from DOGE and turning his focus back to Tesla. The timing of Musk's announcement appears quite strategic. One of the biggest potential growth catalysts for Tesla's future is the introduction of its autonomous driving fleet, dubbed Robotaxi. The service is scheduled to launch on June 12 in Austin, Texas. With Musk's attention back on Tesla and the highly anticipated Robotaxi launch just days away, investors are pouring back into the stock. In tandem with Musk stepping away from DOGE, longtime Tesla bulls Cathie Wood of Ark Invest and Dan Ives of Wedbush Securities have been making the rounds on financial news outlets to hype the narrative that Tesla could be on the brink of a new wave of growth. Wood doubled down on her $2,600 price target, while Ives raised his own forecast to a cool $500 per share. They agree that significant upside could be in store for Tesla shareholders. While investing in momentum stocks can be tempting, investors must zoom out and think about the bigger picture. As a reminder, Musk himself explicitly told investors the initial Robotaxi launch this month will be modest. Moreover, he alluded to Robotaxi not being a major financial contributor to Tesla's business for another year or so. Tesla is currently trading at a forward-price-to-earnings (P/E) multiple of 181. That is high for any growth stock, let alone one that saw its revenue decline in the first quarter. Investors have already priced the stock according to a heavily bullish narrative surrounding Musk's return to Tesla and the Robotaxi launch, but too much uncertainty remains. I wouldn't recommend chasing Tesla stock at this lofty valuation. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $356,261!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,291!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $657,385!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 2, 2025 Adam Spatacco has positions in Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends BYD Company. The Motley Fool has a disclosure policy. Tesla Stock Is Going Parabolic. Is Now the Time to Buy? was originally published by The Motley Fool Sign in to access your portfolio
