pershing square holdings yahoo finance
The Registered Office. Pershing Square Tontine Holdings, Ltd. does not have significant operations. That’s not all though. If it were that easy, who would take the other side of the trade? Add to watchlist. Emergency loans from the U.S. Small Business Administration also helped hotel owners hold onto assets.Now, vaccinations are fueling optimism about a travel rebound. (Bloomberg) -- Pent-up vacation demand has boosted investor demand for beach resorts and roadside hotels. Currency in USD, Trade prices are not sourced from all markets. Source: Dmitry Demidovich/ShutterStock.com ChargePoint Holdings (NYSE:CHPT). The market is tense today as there is a divergent move amongst the top ten cryptocurrencies by market capitalization. I’ll do my best to elucidate here. Baupost Group initiated a position in New York-based Pershing Square Tontine Holdings, Ltd. (NYSE: PSTH) during the third quarter and slashed the position by 27% during the fourth quarter. Benchmark Brent fell 22 cents, or 0.3%, to $69.41 a barrel by 1:25 p.m. EST (1825 GMT) while U.S. West Texas Intermediate crude was at $65.85 a barrel, fell 17 cents, or 0.3%. It’s been a long time since I’ve written about an investment surrounded with so much crazy intrigue as Pershing Square Tontine Holdings (NYSE:PSTH). PSTH Stock Weekly Price Chart Source: Charts by TradingView In Bill or PSTH stock we trust? “On the demand-side, the vaccine rollout is progressing quite rapidly, boding well for a surge in summer driving, especially in the West which has lagged the economic recovery witnessed in Asia.”There are risks to the recovery, though. In the meantime, what we have to go on is Ackman himself, and he’s no Wall Street slouch. Green Eggs & SPAC What little is known of the pending purchase is Ackman’s desire to buy a more “mature unicorn” valued in excess of $1 billion. Net performance is a geometrically linked time weighted calculation. When the Covid-19 pandemic halted travel globally during the first half of last year, it was widely assumed that the shock to hotel revenue would lead to foreclosures and forced sales.It’s been a slow burn. He has not one but two Harvard degrees, including an MBA. View source version on businesswire.com: https://www.businesswire.com/news/home/20210210005960/en/, Media Camarco Ed Gascoigne-Pees / Hazel Stevenson +44 020 3757 4989, media-pershingsquareholdings@camarco.co.uk. As it stands, the price chart of Pershing Square has cracked beneath a pair of bullish channel lines. See Pershing Square Tontine Holding (PSTH) stock analyst estimates, including earnings and revenue, EPS, upgrades and downgrades. If you’re thinking about buying PSTH stock, it helps to know some of the big, weird backstory. The Administrator But with shares under $30, PSTH stock is attractively priced. Suddenly, investors are going crazy wanting to know more. Or a hint that a private Musk endeavor like SpaceX is his intended target. A disproportionate number of those deals have been with still-unproven concept companies in glamorous growth markets. The rise in anti-China sentiment has raised questions in Myanmar business circles and in China, not only over the surge of Chinese investment in recent years but for billions of dollars earmarked for a strategic neighbour on Beijing's "Belt and Road" infrastructure plan. However, the disclosure shows “real value creation which will transfer over into renewable power.”BP BenefitsRival BP Plc made a similar disclosure last year when its Chief Executive Officer Bernard Looney revealed trading typically boosted returns by 2 percentage points a year, suggesting it makes annual profit of around $2.5 billion. About Pershing Square Holdings, Ltd. ... Yahoo Finance Live checks in with several housing market insiders to see if rising mortgage rates are beginning to derail housing's momentum. Golden Nugget (NASDAQ:GNOG). No one knows exactly why Ackman’s raising the money. Number of Positions (2). The Securities and Exchange Surveillance Commission, Japan’s market watchdog, wasn’t immediately available to comment. PSH NAV per share as of close of business on 9 February 2021 was 47.87 USD / 34.65 GBP and year-to-date performance was 5.3%. Share your opinion and gain insight from other stock traders and investors. (Bloomberg) -- Royal Dutch Shell Plc disclosed the profitability of its sprawling and secretive oil-trading unit for the first time, saying it almost doubled to $2.6 billion last year.The scale of that result shows the importance of the trading division to the oil major in a year when weak demand and prices hit other parts of the business. Hundreds of trading and investment firms from the City of London have set up shop in the EU to avoid disrupting business with the bloc by relocating staff and assets. Lordstown Motors (NASDAQ:RIDE). Given the larger volatility associated with this week’s plunge, buying PSTH looks approachable if the stock can simply hold above the lower Fib support near $24.50 while stochastics begins to flatten or ideally crossover. That would be nice, right? Top Stock Picker Reveals His Next Potential 500% Winner Stock Prodigy Who Found NIO at $2… Says Buy THIS Now The post A Look Into the Bizarre Backstory of Pershing Square Tontine Holdings appeared first on InvestorPlace. The stock was released from the measures, and surged as much as 18% on March 12 when it next traded.In a tweet on March 10, Yamada appeared to discuss this process, showing screenshots of Nichidai trades just before the close, though it’s unclear if they were his trades.Separate from his arrest, Yamada has had many clashes on Twitter over the years about his discussions of his investments.“The authorities need to put some regulations in place,” Soichiro Iwamoto, a longtime trader whose firm advises new investors, said in an interview, talking about the practice of talking up stocks on social media. Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) today released the following regular monthly Net Asset Value (NAV) and Performance Report for the month of January 2021. QuantumScape (NYSE:QS). Provides Director Declaration – LR 9.6.14 R If this is solid investment advice, then who needs Warren Buffett darkening their doorway? But what about PSTH and moreover, its acquisition? Subscribe to Premium to view Fair Value for PSTH. Pershing Square Tontine by the Numbers After trying to decode all that Twitter (NYSE:TWTR) nonsense, I say it’s time for some nice, hard numbers. The stock price goes to the moon -- before crashing back to earth.It’s an all-too-familiar tale to anyone watching the market in 2021, but this wasn’t GameStop Corp. (Bloomberg) -- Indian tycoon Gautam Adani has added more billions to his wealth than any one else in the world this year on the back of investor excitement around his ports-to-power plants conglomerate.The net worth of Adani, a first-generation entrepreneur who rarely speaks publicly, has jumped $16.2 billion in 2021 to $50 billion, according to the Bloomberg Billionaires Index. Their intention was to keep the share price below a certain level to ensure restrictions on new margin trades on the stock were lifted, the reports said. Let’s take a look at what’s happening off and on the price chart of PSTH stock, then offer a risk-adjusted determination aligned with those findings. At any rate, it’s a priceless slice of billionaire investor brawling. I think you get my pointed point. Ready to empty your bank accounts and buy every last share of PSTH stock? In the event that Tuesday is not a business day, the Company will calculate the close-of-business NAV as of the business day immediately preceding that Tuesday. Summary Results (1). If you’re the last to die, you get all the shares. He wasn’t arrested for talking the stock up on Twitter, but on suspicion of trying to keep the share price down -- albeit so it would have margin-trading restrictions removed which, when it happened, caused the shares to soar to new highs.The incident shows how regulators sift through unusual trading patterns and come to conclusions often years later. Electric vehicle charging group Ionity, whose owners include Volkswagen and Daimler, is looking to sell a minority stake to rake in 400 million-500 million euros ($479 million-597 million), three people familiar with the matter said. Pershing Square Tontine Holdings, Ltd. (PSTH) NYSE - Nasdaq Real-time price. Over the past week Ackman has temptingly made Pershing shares a more worthwhile investment by dangling the possibility for its investors to buy in at the IPO price of his next recently filed PSTH-II SPAC. And that includes PSTH stock, well kinda sorta. As is typical for SPACs, PSTH stock is doing well: up 12% over its six-month existence. As for the big story unfolding, it remains wrapped in SPACulation and mystery. And despite taking a couple lumps over the past decade, his longer-term performance and record-beating returns over the last couple years have put him among the elite in the financial industry. For Shell, it estimates LNG trading brought in an additional $2.6 billion. The end-of-month NAV is calculated as of the close of business on the last day of the month and posted on the following business day. The company was founded in 2020 and is based in New York, New York. The firm, which is installing ultra-high speed charging stations across Europe, has hired BNP Paribas to help with the process, with non-binding bids due after Easter, the people said. While Wall Street continues its rabbit-hole guessing game, we might as well dub Seuss’s unnamed antagonist Dr. Tontine and call it good. While you’re in the public spotlight, you may also be in the regulators’ crosshairs.“Everyone’s going to be on tenterhooks,” said Taketsugu Agari, the investor known as Takezo on Twitter, where he has almost 100,000 followers. Currency in USD. Weekly net asset value ("NAV") is calculated as of the close of business on each Tuesday and posted on the following business day. Let’s start with, “What in God’s name is a tontine?” I had to look it up, and the definition creeped me out. While Bitcoin (BTC) and Ethereum (ETH) remain the dominant head, the altcoins that are most correlated with the former are charting a different course for themselves today. Maybe Ackman is happy where things stand now. Tesla will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters. Mega-cap stocks Microsoft Corp, Apple Inc, Facebook Inc and Amazon.com Inc led the rally, recouping losses from a recent pullback and helping the benchmark S&P 500 surpass its Feb. 16 peak of 3,950.43. (Bloomberg) -- Renault SA has sold its stake in Daimler AG for 1.14 billion euros ($1.4 billion) to secure funds for its turnaround efforts after a record annual loss.The French carmaker exited its entire 1.5% holding in Daimler, according to a statement Friday. Get the annual and quarterly balance sheets for PERSHING SQUARE HOLDINGS LTD OR (PSHD.L) including details of assets, liabilities and shareholders’ equity. The first acquisition was the boutique Warwick Hotel in Philadelphia’s Rittenhouse Square.Dreamscape is operating in a crowded field of investors waiting for distressed hotels to hit the market. Pershing Square Tontine Holdings (PSTH) Pershing Square Tontine Holdings is a blank check company formed by Bill Ackman that went public in July 22, 2020 at a value of $4 billion and trade under the ticker symbol PSTH.U before the split of its warrants and shares. Value investing legend billionaire Seth Klarman has been struggling to generate significant returns over the last two consecutive years […], Discover new investment ideas by accessing unbiased, in-depth investment research, NYSE - Nasdaq Real Time Price. PERSHING SQUARE CAPITAL MANAGEMENT, L.P. PERSHING SQUARE HOLDINGS, LTD. Find the latest PERSHING SQUARE HOLDINGS LTD OR (PSH.L) stock quote, history, news and other vital information to help you with your stock trading and investing. “If second half demand improves, which is the consensus view, in order to meet that demand, supply doesn’t seem to be coming from the U.S. It’s going to come from OPEC, and OPEC has shown restraint.”It’s possible that U.S. crude may have to trade at a bigger discount to the global Brent benchmark to boost U.S. crude exports, according to consultant Energy Aspects. Pershing Square Tontine Holdings, Ltd. (NYSE:PSTH) (the "Company") may provide information to the public via the Twitter account of its Chairman and CEO, Bill Ackman. If the Japanese experience is anything to go by, any regulatory actions could be a long time coming, if they materialize at all.“This has been going on for over a decade, back from when people used to use bulletin boards,” Agari said, referring to retail investors talking up stocks online. The stock surged more than sixfold in the first three months of 2018 before losing most of the gains.The person behind the nickname was Toru Yamada, a former money manager, and he and another man have just been arrested for market manipulation, according to Japanese media reports. Northern Trust International P.O. He called Icahn “a bully” who “takes advantage of little people.” I suggest you watch the video to get a taste of whom you’re entrusting with your PSTH stock dollars. Or an invitation to court SpaceX as said target. 28.00 +2.56 (+10.06%) At close: 4:00PM EST. In this article, we discussed billionaire Seth Klarman’s top 10 stock picks for 2021. Monthly net asset value and performance are calculated at the close of business on the last business day of the month. Prosecutors didn’t make clear if the men had admitted or denied the charges, according to local media reports.A regulatory filing shows that Yamada’s first disclosed purchase of Nichidai shares was Dec. 8, 2017, and he gradually increased his stake. The information has also been posted to the PSH website, www.pershingsquareholdings.com. Source: Dmitry Demidovich/ShutterStock.com And boy, is it weird. Two words, an ampersand and an acronym. When Ackman announced Pershing Square Tontine last June, it was the largest-ever blank-check company on record. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. About Pershing Square Holdings, Ltd.Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an investment holding company structured as a closed-ended fund that makes concentrated investments principally in North American domiciled companies. But this much I contend: PSTH stock won’t enjoy the major price jolt of other SPACs until prospective shareholders can connect it to an end game. “After research I believe GameStop has a good chance to pull it off.” The latest resurgence in GameStop shares has reinvigorated true believers. That comes as the Brent market faces headwinds from refinery maintenance and sharp cuts to Saudi crude prices, forcing U.S. crude to trade even lower in turn, the consultant said.Meanwhile, calendar spreads indicating longer-term strength rallied on Thursday. A surge in the margin on refining crude into gasoline could drive an oil rally over the summer, according to RBC Capital Markets. It could be bearish. ... Stay in the loop every day with Yahoo Finance's free Fully Briefed newsletter. Investors should follow this account for information about the Company. All investments involve risk including the loss of principal. It notes that Pershing Square “may provide information to the public via the Twitter account of its Chairman and CEO.” Maybe it’s time for Musk to tweet, “Ackman hears a Who.” Betting on Ackman Given how things work on social media, Ackman could make a major announcement at just about any time. The S&P 500 gapped higher to kick off the trading session on Thursday, felt to fill the gap, and then turned around to rocket to the upside. A spokesperson for the company’s unit, Liberty Steel, said there was a “temporary issue” with one of its suppliers for some of its sites, but added it had been “successfully concluded using our normal commercial dispute procedures.”ArcelorMittal is constructively working with Liberty Steel “to ensure continuity of the contract,” it said in a statement. And it happened in 2018.It was in the Japanese city of Osaka, where a day trader who goes by the nickname Tonpin was betting on a tiny maker of precision dies and molds called Nichidai Corp. and broadcasting the fact on Twitter, where he has more than 55,000 followers. In buying PSTH stock, investors are also wagering on Ackman’s track record and promise that his experience, size, and connections should produce a superior merger choice. Adani Transmission Ltd. is up 77%. Past performance is not necessarily indicative of future results. Their first task will be to secure a debt standstill on the $5 billion GFG owes Greensill and other funds that bought its financial products, a person familiar with the matter said this week.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Binance Pay now includes merchant functions, allowing businesses to process payments in crypto, online or in-person. The S&P 500 and the Dow hit all-time highs on Thursday as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims and the signing of a massive stimulus bill reinforced expectations of a strong recovery. Find out the total insider shares held, purchased and sold. A Feb. 26 press release says as much. Portfolio Update February 28, 2021. Adani has been rapidly expanding his conglomerate, adding ports, airports, data centers and coal mines in India, while doggedly proceeding with his controversial Carmichael coal project in Australia.“Adani has been consistently expanding its business in areas that are resilient to market cycles,” said Sunil Chandiramani, founder and chief executive officer at Nyka Advisory Services. (Updates with analyst estimates in eighth paragraph. Like. Reportedly, Pershing Square Tontine Holdings could possibly provide information to the public via the Twitter. Still, valuations for European oil companies remain in the doldrums and investors are still not rewarding them for climate strategies that remain unproven.“Each day investors understand the rationale and the proposition more, but understandably they want to see results, they want to see execution,” BP’s Looney said Thursday in a webinar. : +44(0) 1481 745001. It sure sounds that way, right? Get the latest insider transactions for PERSHING SQUARE HOLDINGS LTD OR (PSHD.L). Between them, Shell and BP move more than 20 million barrels of oil and refined products a day, much more than the volumes they pump out of the ground.Yet trading has always been kept a closely guarded secret, with executives typically only making mentions of the units’ performance with general platitudes.In the second quarter of last year, when supermajors’ balance sheets were savaged by the impact of the coronavirus on oil prices, their trading units saved them from posting quarterly losses. Daimler CEO Ola Kallenius laid out plans in October to put less emphasis on volume and take Mercedes more upscale to boost profits.The two companies’ past collaboration included working together on Smart ForTwo and Renault Twingo small cars. Any use of this information is 100% the responsibility of the individual. Shares of all Adani group stocks, except one, have rallied at least 50% this year.The surge in wealth dwarfs the $8.1 billion added by Adani’s compatriot and the richest person in Asia, Mukesh Ambani. GFG told Greensill in February that it would be insolvent without its funding, the financing firm said in a filing. PSTH … Interactive chart for PERSHING SQUARE HOLDINGS LTD OR (PSHD.L) – analyse all of the data with a huge range of indicators. It wasn’t even in America. Dating to the 17th century, a tontine is a group annuity that’s basically a death bet. A spokesperson for GFG said the company wouldn’t comment on commercial arrangements.Greensill’s collapse has raised questions about the financial health of Gupta’s businesses, which were its biggest customer. Output from the Organization of Petroleum Exporting Countries fell last month as Saudi Arabia implemented extra cutbacks to speed the market’s rebalancing.While oil’s rally of more than 30% this year had taken a breather in recent days, the outlook for some of the world’s biggest economies is starting to show the effects of vaccination efforts and fiscal stimulus. Some say it’s a fond wink at Ackman. Pershing Square Holdings, Ltd. Notes Director Purchases of PSH Public Shares. The NAV and returns were computed as of the close of business on Tuesday, 9 February 2021. Meanwhile, U.S. equities jumped to an all-time high as a $1.9 trillion pandemic-relief bill was signed into law.“Refined products and particularly gasoline has been leading the most recent charge higher in oil prices,” said Ryan Fitzmaurice, commodities strategist at Rabobank. Top Stock Picker Reveals His Next Potential 500% Winner Stock Prodigy Who Found NIO at $2… Says Buy THIS Now The post Why Pershing Square Tontine Holdings May Finally Be Worth Buying appeared first on InvestorPlace. "Demand for risky assets such as oil continues to be buoyed by the White House relief package and an almost daily flow of optimistic vaccine headlines," said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois. To expand on Wall Street parlance, money talks so loud that it drowns out an investment legend’s eccentricities. This kind of nonsense should make Dr. Seuss roll over in his grave, claw his way out and punch Musk with his moldy skeletal fist as thanks for the B-grade pun. Certainly we’re seeing some curious cat-and-mouse on display with this SPAC. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG It doesn’t matter if you have $500 in savings or $5 million. On the date of publication, Chris Tyler does not hold, directly or indirectly, positions in any securities mentioned in this article. 1. Tesla Inc is exploring an arrangement with Indian conglomerate Tata Sons' power generation unit, Tata Power, to set up charging infrastructure for electric vehicles in the country, CNBC-TV18 reported on Friday, citing sources. Yahoo. Hailed by China as a symbol of "mutually beneficial cooperation", the pipeline has become a target for public anger over perceptions Beijing is backing the junta that seized power in a Feb. 1 coup. By the time he first tweeted about it, on Feb. 1 the next year, the shares had almost tripled.That March, Yamada and another man placed a large number of sell orders below the market price just before the close, according to the media reports. Find the latest Pershing Square Tontine Holding (PSTH) stock discussion in Yahoo Finance's forum. Opendoor Technologies (NASDAQ:OPEN). The two regularly hosted joint press conferences at car shows before Japanese police arrested Ghosn in late 2018 on suspicion of financial misconduct. The thing is, and unlike many SPACs, Pershing Square has yet to find a mate. Fueling those flames, this week Elon Musk ushered in a new wave of speculation SpaceX could be within reach of PSTH. That crowded wager is already pushing one investor to explore ways to bet on business travel.Dreamscape Cos. Chief Executive Officer Eric Birnbaum said his firm, which has more than $1 billion to buy hotels, sees more opportunity to acquire lodging properties that cater to business clientele, despite corporate America’s hesitance to put workers back on the road.“Looking out into the future, the recovery may take longer for group-focused or big-box convention hotels,” said Birnbaum, who previously co-founded Imperial Cos. with former Vornado Realty Trust CEO Michael Fascitelli. The name must be (I hope) a cheeky, fiendish jape from its founder, rockstar investor Bill Ackman. For weeks that include a month-end NAV report, PSH will provide only the month-end NAV and not report the Tuesday NAV. Find the latest PERSHING SQUARE HOLDINGS LTD. (PSHZF) stock discussion in Yahoo Finance's forum. And Birnbaum sees more hotels hitting the market as lenders’ patience runs out.“We’re now getting to a point where they have to potentially put in their own capital,” he said. View daily, weekly or monthly … He hasn’t identified his target company yet.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Then came the Elon Musk tweet on Mar. Do this now. Monthly NAVs are published in accordance with the Decree on Conduct of Business Supervision of Financial Undertakings under the Wft (Besluit Gedragstoezicht financiële ondernemingen Wft). Some connect-the-dots games are pointless. That makes it harder for regulators to monitor, he said.Read more: GameStop Frenzy Is Lost in Translation for Japan’s Day TradersAs for the fallout from the GameStop saga, that’s anyone’s guess. The gig may be up for many, but when it comes to Pershing Square Tontine Holdings (NYSE:PSTH), is the game over before it even began? In the U.S., jobless claims fell to the lowest since November as inoculations accelerate and states eased more business restrictions.“Things are heading fundamentally in the right direction,” said Peter McNally, global head for industrials, materials and energy at Third Bridge. Monthly net asset value and performance are calculated at the close of business on the last business day of the month. To buy something. But optimistically, there are reasons to be hopeful this isn’t the start of something more ominous and will prove a nice buying opportunity. Worker unions have since raised concerns over the security of 35,000 jobs across Gupta’s sprawling empire that has operations in 30 countries.GFG has hired PJT Partners Inc. and Alvarez & Marsal Inc. to help it secure new financing, Bloomberg reported on Wednesday. Renault and Daimler have said their industrial partnership that dates back more than a decade will continue.Renault warned investors last month of another challenging year following a worse-than-expected 8 billion-euro annual net loss. Releases Monthly Net Asset Value and Performance Report for January 2021. The information offered is based on his professional experience but strictly intended for educational purposes only. And yet, investment heavies have taken this as a sign. Add to watchlist. Yowza. In fact, I’m so confident about this I don’t even feel the need to tweet about it. Pershing Square Holdings, Ltd. There’s more to buying PSTH that’s inviting as well. That’s led some people to predict that the wave of distress may never materialize -- especially since debt funds are raising cash to make rescue loans to help hotel owners bridge the gap to brighter days.Net asset values for hotels owned by real estate investment trusts have ticked up 4% since the end of January, due partly to “the significant amount of capital on the sidelines looking for a home,” according to Michael Bellisaro, an analyst at Robert W. Baird & Co.At the same time, delinquencies on hotels financed by commercial mortgage-backed securities have decreased, with roughly 16% of such properties at least 30 days delinquent in February, down from 19% in January, Trepp data shows.Still, companies are expected to be more cautious than tourists as Americans start to travel. Joe Youngblood, who works in digital marketing in Dallas, Texas, bought his first share of GameStop at $98 in early February and found his investment cut in half in a matter of days. Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) today released its regular weekly Net Asset Value ("NAV") and performance returns on its website, https://www.pershingsquareholdings.com/company-reports/weekly-navs/. Box 255 Trafalgar Court Les Banques St. Peter Port Guernsey GY1 3QL Tel no. Adani Power Ltd. and Adani Ports and Special Economic Zone Ltd. have gained more than 50% this year. “America is starting to look like Japan.”(Updates to include more details)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- ArcelorMittal SA will ask for cash up front to supply Sanjeev Gupta’s GFG Alliance with steel amid fears about the group’s financial situation.The company will change its payment terms for shipments to the finishing plants Gupta bought from it in 2019, according to a person familiar with the matter. But Ackman is also grandiose, controversial and even a bit odd. Shares of Tata Power rose 5.5% to their best closing level since June 2014 after the report, which comes as the Palo Alto-based electric-car maker gears up for an India launch later this year with plans to import and sell its Model 3 electric sedan.