Markets

Elon Musk’s “funding secured” tweet cost Tesla investors $12 billion in just 10 days, a jury was told per Bloomberg. Michael Hartzmark of Forensic Economics said investors who took both long and short positions were burned. Musk is being sued after indicating in 2018 that he had funding in place to take Tesla private at… Continue reading Elon Musk’s ‘funding secured’ tweet cost investors $12 billion over 10 days, jury reportedly told

Jim Chanos said he’s still shorting Tesla as the EV maker faces margin pressures and increased competition.  He expects the Elon Musk-run carmaker’s margins to fall as its China market weakens.  Meanwhile, Tesla faces competition from Chinese automakers including Nio and BYD who are taking massive market share.  Loading Something is loading. Thanks for signing… Continue reading Famed short-seller Jim Chanos says he’s still betting against Tesla as the EV maker ‘wrestles’ with margin pressures and increased competition

Warren Buffett is the sole member of the world’s top 10 billionaires to see his wealth drop this year. Berkshire Hathaway stock is trailing the S&P 500’s 5% gain and the Nasdaq’s 10% jump this month. Buffett’s company beat the market last year as investors braced for the worst. Loading Something is loading. Thanks for… Continue reading Warren Buffett is the only top-10 billionaire to become poorer this year after Berkshire Hathaway missed out on the stock market’s rally

Gautam Adani — Asia’s richest person — saw his wealth plunge over $20 billion on Friday alone, per Bloomberg. The wealth wipeout followed a crash in the shares of his listed businesses, after a bombshell short-seller report. Adani is now the world’s 7th richest person — down from the 4th position earlier last week. Loading… Continue reading Gautam Adani is tumbling down the ranking of the world’s richest people, and he’s already lost $28 billion in the first month of 2023

Jeremy Grantham warned investors of the potential for a big stock market crash later this year. The co-founder of GMO said the stock market bubble was entering its “final phase” and outlined what to own during the potential volatility. Here are the seven best quotes from Grantham’s 2023 stock market outlook letter. Loading Something is… Continue reading Jeremy Grantham warns of a massive stock market crash and highlights what to own in his 2023 outlook. Here are the 7 best quotes.

FTX owes money to a lot of companies. Many on the list of creditors are small Bahamian businesses. Among FTX’s other creditors include Bodybuilding.com, an Idaho-based retailer that sells bodybuilding supplements. Insider looked through the 116-page court document to find the most surprising names among its creditors.  Loading Something is loading. Thanks for signing up!… Continue reading Sam Bankman-Fried’s FTX might even owe money to a tiny Bahamian garden shop. Here are some surprising names on the crypto exchange’s long list of creditors.

Stephen Findeisen, better known as Coffeezilla, has made crypto sleuthing a full-time gig.  He played a role in Sam Bankman-Fried’s downfall, and says he got the FTX CEO to admit to fraud. Recently, Coffeezilla feuded with Logan Paul over a crypto game he said was a scam.  Loading Something is loading. Thanks for signing up!… Continue reading Who is Coffeezilla, the crypto detective who says he got Sam Bankman-Fried to admit to fraud?

Warren Buffett’s Berkshire Hathaway built a $600 million position in Gillette in 1989. The investor’s company swapped its stake for over $4 billion of Procter & Gamble stock in 2005. Buffett used P&G shares and some cash to buy Duracell in 2014. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Warren Buffett bet $600 million on Gillette – and ended up owning Duracell. Here’s how his razor wager led to him buying the battery titan.