Tesla’s stock declined slightly on Thursday after filings revealed Chief Executive Elon Musk sold about $5 billion worth of his shares this week following his much-hyped Twitter poll. The electric-car maker’s stock ended the session down 0.4 percent at $1,063.51 after tumbling earlier in the week. Musk’s share sale was his first since 2016 and…
Cathie Wood Backs Elon Musk’s Stock Sales, Says Tesla Selloff ‘Nothing but a Blip,’ Wouldn’t Buy Rivian at Current Levels
Tesla Inc. bull Cathie Wood on Wednesday reiterated her $3,000 price target for the electric vehicle stock for 2025, dubbing the the recent selloff as “nothing but a blip” and said wouldn’t buy just-listed Rivian Autoimotive Inc. What Happened Tesla shares have retreated 13.4 percent in the past five days after CEO Elon Musk’s Twitter…
B2B Partners, User Additions Drive Wix.com’s Q3 Beat, Raises FY21 Revenue Outlook
Wix.com Ltd. reported third-quarter FY21 revenue growth of 26 percent year-on-year to $320.8 million, beating the consensus of $315.2 million. Segments Creative Subscriptions revenue increased 19 percent Y/Y to $241.3 million. The Creative Subscriptions collections climbed 28 percent Y/Y to $292.7 million. Creative Subscriptions ARR as of the end of Q3 was $992.3 million, up…
Share Price Drops Lower the Hang Seng Index, China Inflation Data Sparks Economy-Slowdown Worries
Shares of Alibaba Group Holding Limited, Baidu Inc., JD.Com Inc., Li Auto Inc., and Xpeng Inc. fell in Hong Kong on Wednesday, while Tencent Holdings Inc. traded higher. What’s Moving Chinese e-commerce giant Alibaba’s shares traded 0.5 percent lower at HKD 156.40 ($20) in Hong Kong, while e-commerce company JD.Com’s shares fell 1.5 percent to…
Gett Nears $1.1 Billion SPAC Merger to Go Public
Corporate-transportation platform Gett is nearing a special-purpose acquisition company (SPAC) merger worth $1.1 billion with Rosecliff Acquisition Corp. I, the Wall Street Journal reports. Gett now aims to streamline the company’s ride-hailing, taxi, and limousine booking options worldwide into one platform to save customers time and money. It initially started as an Uber Technologies competitor….
Elon Musk Sells $5 bln in Tesla Shares After Twitter Poll
November 11, 2021
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Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday (November 10), just days after he polled Twitter users about selling 10 percent of his stake. In his first share sale since 2016, Musk’s trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while…
Elon Musk Sells $5 Billion in Tesla Shares After Twitter Poll
November 11, 2021
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Business & EconomyCompanieseconomic policiesEconomiesElon MuskInvestmentLocal NewsMarketsNew YorkNY NewspollRegional-Local NewsSharesteslaTwitterUSUS News
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Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday (November 10), just days after he polled Twitter users about selling 10 percent of his stake. In his first share sale since 2016, Musk’s trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while…
Asian Shares Mixed After US Inflation Report
November 11, 2021
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Asia & PacificasianAustraliaBusiness & EconomyBusinesses in COVID-19ChinaChina Business & EconomyCompanieseconomic policiesEconomiesEconomyHK BusinessHong KonginflationInternationalInvestmentLocal NewsMarket WatchMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsreportSharesTexasUSUS NewsWorld
TOKYO—Asian shares were mixed Thursday after a worrisome report on U.S. inflation that slammed into the bond market and knocked stocks lower on Wall Street. In Japan, where investors are awaiting an economic stimulus package from newly elected Prime Minister Fumio Kishida, the benchmark Nikkei 225 climbed 0.5 percent to 29,255.02. Australia’s S&P/ASX 200 fell…
Elon Musk’s Net Worth Takes $50 Billion Hit in Two Days After CEO Contemplates Selling Off 10 Percent of Company Stock
Elon Musk’s net worth has plunged $50 billion in just two days after the Tesla CEO asked his Twitter followers whether he should sell 10 percent of his stake in the company, Bloomberg reports. Musk, the world’s richest person, took to the social media platform on Nov. 6 to pitch a poll with his 63.1…
Rivian Raises $11.9 Billion in Upsized IPO: What You Need to Know
Rivian Automotive Inc., an electric vehicle manufacturer backed by Amazon.com Inc. and Ford Motor Co., on Tuesday priced shares in its highly-anticipated initial public offering at $78—well above its earlier expectations—to raise $11.93 billion, regulatory filings showed. What Happened Rivian initially aimed to sell shares in a $57 to $62 a share price range, which…
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