A recent rally in cryptocurrencies lost speed on Thursday, with the price of BitcoinBTCUSD –2.56% and other cryptocurrencies sliding back as investors digested news that Tesla TSLA +0.80% had sold the lion’s share of its digital asset holdings. The price of Bitcoin fell 3% over the past 24 hours to below $23,000, having advanced as far as $24,200 on Wednesday. The largest … Read more
Nasdaq 100 futures rose Thursday after the latest batch of corporate earnings, including a boost from Tesla shares. Meanwhile, S&P 500 futures ticked higher. Futures tied to the Dow Jones Industrial Average fell 63 points, or 0.2%. S&P 500 futures gained 0.01%, while Nasdaq 100 futures gained 0.36%. All three major averages hit their highest levels … Read more
Tesla TSLA +3.64% has been buffeted by concerns over Elon Musk’s battle with Twitter, its high valuation, China’s Covid lockdowns, and the market’s recent disdain for high valuation growth stocks. Now, investors can add bitcoin to that list of woe. Barclay’s Brian Johnson said recently that Tesla’s (ticker: TSLA) bitcoin holdings could result in a $460 million hit to second-quarter earnings. Tesla invested $1.5 billion in Bitcoin back in January 2021. Bitcoin … Read more
Tesla CEO Elon Musk said in a tweet Friday that the electric car company could lower prices if inflation “calms down.” The Bureau of Labor Statistics reported a higher-than-expected inflation rate this week with the consumer price index rising 9.1% from a year ago. Tesa increased the prices of all of its car models in the U.S. and … Read more
Twitter shares sank in premarket trade Monday after Elon Musk said he is trying to terminate his $44 billion takeover of the company. Shares of the social media platform were down 5% in U.S. premarkets, implying a loss of nearly $1.4 billion in market value from Friday’s closing price. Tesla, where Musk is CEO, was slightly higher. On Friday, Musk’s attorney … Read more
BY QUOTH THE RAVEN In my latest podcast, I talked to Mark Spiegel about the state of the Fed, the state of cryptocurrency, politics, and – of course – Tesla. Like many of my friends/guests, he’s the type of voice that gets little coverage in the mainstream media, which, in my opinion, makes him someone worth … Read more
Key Points: Tesla’s factories in Texas and Berlin are losing “billions of dollars right now” as supply chain disruptions hamper the electric vehicle giant’s ability to ramp up production, CEO Elon Musk said. “Both Berlin and Austin factories are gigantic money furnaces right now. OK? It should be like a giant roaring sound which is … Read more
Key Points: Hertz’s $4.2 billion deal to purchase 100,000 Tesla fully electric vehicles (EVs) by the end of 2022 set off a race among rental car agencies. Enterprise Holdings and Avis Budget Group have announced their own plans to transition away from the internal combustion engine. But for the $56-billion U.S. rental industry, which buys … Read more
During a Q & A meeting with Twitter employees, Elon Musk used the phrase “all lives matter,” prompting some of the company’s woke staffers to have a mini freak out. The billionaire addressed Twitter employees to fill them in on his plans for the company and Project Veritas obtained a recording of the remote session. … Read more
The latest on Tesla… In May Business Insider published a heretofore unknown story about Elon Musk paying $250,000 to settle a sexual harassment case brought by a flight attendant on one of his “global warming-fighting” private jets. Yes, the same Musk who soon after the story broke tweeted this: In fact, following that story’s publication Musk had a complete … Read more
