Tag: finance
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Tesla drops 12%, its worst decline in 14-months amid insider selling anxiety, weaker China sales, and Michael Burry warning
Tesla CEO Elon Musk. Matt Rourke/AP Photo Tesla stock is on track Tuesday to notch its worst single-day decline since September 2020.The EV manufacturer fell as much as 12% amid insider selling anxiety, China car sales data, and a warning from Michael Burry.Despite the recent decline, Tesla stock is still up 47% year-to-date amid record…
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Michael Dell says blockchain is underrated, but he’s ‘going to pass’ on bitcoin
Michael Dell Tony Avelar/AP Images for Dell Inc. Michael Dell is a fan of blockchain, which could help boost his company's infrastructure business. The 56-year-old billionaire told The New York Times' DealBook that blockchain is underrated. As for bitcoin, he said he's "going to pass." Michael Dell is bullish on blockchain technology but iffy on…
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The Importance of Digital Currencies in the Coming Open-Finance Age
Finance, money, and technology are three crucial things in our lives that go hand in hand. When we did not know the concept of money, trading came in handy. With evolution, the methods have changed too. Trading for food evolved into trading for commodities. Commodities turned to fuel, and today, we trade everything in exchange…
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Why climate change will keep interest rates low for decades, according to Carson Block
AP Photo/Noah Berger Interest rates will stay at "ridiculously low levels" for decades, Muddy Waters' Carson Block said in a letter to investors.Block believes rates will stay low to combat climate change, according to the letter."Interest rates will be at these levels in order to stimulate investment in technologies to de-carbonize [the economy]," Block said.Sign…
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Bitcoin Is Not a Threat to US Dollar
The rising level of interest in Bitcoin from retail and institutional investors have become too significant not to neglect. Though the leading cryptocurrency is at nascent stage, more investors are purchasing it as a store of value. The question about the end of the US dollar as a reserve currency has been on the minds…
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Electric truck startup Rivian is eyeing a $70 billion valuation in upcoming IPO, report says
Rivian R1T. Andi Hedrick/Rivian Rivian Automotive is targeting an IPO that could value the electric vehicle startup at $70 billion, according to a Bloomberg report.The company is working with advisers from Goldman Sachs, JPMorgan, and Morgan Stanley.Rivian is backed by Amazon and was valued at $27.6 billion when it raised $2.65 billion in January.Sign up…
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A key US watchdog wants officials to set up a ‘regulatory perimeter’ for cryptocurrencies
Critics have long highlighted bitcoin's usage in offense. Cesc Maymo/Getty Images A US banking regulator said he’d like to find a "regulatory margin " for cryptocurrencies. Michael Hsu told the Financial Times that there was growing interest in regulating crypto. US and global officials have expressed worries that retail investors could get burnt by bitcoin.…
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8 Companies Bringing Innovative Ideas To Private Aviation
Eviation’s all-electric commuter airplane, “The Alice” Every private-aviation startup wishes to turn into the next Wheels Up, which expects to go public at a valuation of more than a billion in the second quarter after merging using a special-purpose acquisition firm. That could be greater than double the 2019 value of the seven-year-old outfit, which…
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What Your Finance Chief Should Learn From Auto Industry CFOs
It was only nine years ago that the Tesla Model S launched to great fanfare from environmentalists…and a collective yawn from the traditional auto industry. Fast forward to today and the electric vehicle maker’s market cap nearly equals that of all major automakers that produce in North America — combined. It’s even possible we’ll never…
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Justin Sun postponed a $4.6 million lunch with Warren Buffett, plowed $10 million into GameStop stock, and lost out on a $69 million NFT. Here’s a look at the crypto whiz kid.
Justin Sun/Twitter Crypto whiz kid Justin Sun postponed a $4.6 million charity dinner with Warren Buffett.The Tron boss invested $10 million in GameStop and lost out on a $69 million NFT.Here are eight items to understand about the 30-year-old tech entrepreneur. See more stories on Insider's company page. Crypto whiz kid Justin Sun has shot…