Tag: markets
-
MicroStrategy now holds $2.9 billion in bitcoin after buying an additional 3,907 coins in the 3rd quarter
MicroStrategy CEO Michael Saylor Joe Raedle/Getty Images MicroStrategy bought an additional 3,907 bitcoins for roughly $177 million between July 1 and August 23. The purchase brings the company's total holdings to 108,992 coins that were acquired at $2.918 billion. Shares of MicroStrategy fell 2.8% after the opening bell. Sign up here for our daily newsletter,…
-
Tesla slides after the US opens a new investigation into Autopilot crashes
Zhe Ji/Getty Images Tesla stock fell Monday on reports the US's auto-safety regulator is starting a new investigation into the company's Autopilot system. The NHTSA will look into an estimated 765,000 Tesla Models Y, X, S, and 3 from 2014 to 2021. The agency has identified 11 crashes involving Tesla vehicles at first-responder scenes. See…
-
Jim Simons’ RenTech fund tripled its AMC stake last quarter – and slashed its Tesla holdings by 75%
Jim Simons. AP Images / Jason Decrow Jim Simons' RenTech tripled its AMC stake and slashed its Tesla holdings by 75% last quarter. The hedge fund's bet on the movie-theater chain soared almost 20-fold in value to $103 million. RenTech held $138 million of Tesla stock, a fraction of its previous stake worth $14 billion…
-
Time to spread bets overseas
As equity valuations turn expensive amid the record breaking rally, financial planners are telling investors to diversify their stock portfolios globally and allocate 10-15% of their holding overseas over the next two years. Global markets have a low correlation with Indian stocks and help reduce risk. For instance, Indian markets have a 0.16% correlation with…
-
Elon Musk backs Mark Cuban’s claim that dogecoin is the best cryptocurrency as a medium of exchange
Tesla CEO Elon Musk has long supported dogecoin. Chris Saucedo/Getty Images for SXSW Elon Musk said he agrees with Mark Cuban that dogecoin is a strong medium of exchange. Cuban's Dallas Mavericks accept dogecoin, and he praised the token's strong community. However, mainstream investors see cryptocurrencies as unsuitable for payments due to volatility. Sign up…
-
Cryptocurrencies’ market cap has risen above $2 trillion for the first time since May as bitcoin rebounds
Cryptocurrencies have been on a wild ride in 2021. Yuriko Nakao/Getty Images The crypto market's total value has climbed above $2 trillion for the first time since May. It touched $2.02 trillion on Saturday before slipping slightly to $1.96 trillion on Sunday. Bitcoin, ether, and other tokens have rebounded in recent weeks as investors have…
-
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…
-
Retail investors are snapping up tumbling Chinese stocks like Didi – even as institutions balk at the government crackdown
Didi was an unlikely favorite among TD Ameritrade users in July. VCG/Getty Images China's regulatory crackdown has unnerved institutional investors, but retail traders don't appear scared. Data shows they've been snapping up tumbling stocks like Alibaba and Didi despite big risks. Retail investors have changed into dip-buyers that are looking for bargains, analysts say. Sign…
-
Bitcoin to $250,000, plus secrets from a market wizard
Hello and welcome to Insider Investing. I'm Joe Ciolli, and I'm here to guide you through the current market and investing landscape. Here's what's on the docket: We spoke to Joseph Edwards, a former professional esports coach turned crypto researcher who called bitcoin's meteoric rise to $60,000 last year. He broke down his prediction that…