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Tesla Wipes, Bitcoin Bonanza and Nvidia in Shock
Anna Eisenberg
October 31, 2023
Anna's Daybreak News
Good morning news lovers! oin us in the realm where headlines ignite, stories come to life, and a world of information awaits your discovery.📰🌟
Tesla's High-Voltage Hiccup
Tesla Inc., the midas of the electric vehicle industry, just lost close to a fifth of its valuation, a shocking $145 billion, in less than a fortnight.
The value nosedive ensued after Tesla hit the brakes on its growth expectations during its third-quarter earnings call.
The gloomy forecast was echoed by auto industry stalwarts and Wall Street watchdogs, who've been sounding the alarm bells about a potential slowdown in the electric car market.
Both battery-maker Panasonic Holdings Corp. and chip-manufacturer ON Semiconductor Corp. have also expressed concern for the future of EVs.
Times seem hard right now for Tesla, but if we have learnt something from Musk is that he will just put his head down and trod forward until he's got his battery pack out of this mess.
Source: Read More
Tesla Inc., the midas of the electric vehicle industry, just lost close to a fifth of its valuation, a shocking $145 billion, in less than a fortnight.
The value nosedive ensued after Tesla hit the brakes on its growth expectations during its third-quarter earnings call.
The gloomy forecast was echoed by auto industry stalwarts and Wall Street watchdogs, who've been sounding the alarm bells about a potential slowdown in the electric car market.
Both battery-maker Panasonic Holdings Corp. and chip-manufacturer ON Semiconductor Corp. have also expressed concern for the future of EVs.
Times seem hard right now for Tesla, but if we have learnt something from Musk is that he will just put his head down and trod forward until he's got his battery pack out of this mess.
Source: Read More
Nvidia Faces the Crunch as Chinese Orders Come to a Grinding Halt
Nvidia Corp, the artificial intelligence (AI) titan, witnessed a 5% drop in shares after rumors of possibly cancelling up to a whopping $5 billion in advanced chip orders to China, thanks to fresh U.S. government restrictions.
Evidently, the new rules laid down by the U.S. Commerce Department have thrown a monkey wrench into Nvidia's plans to deliver their AI chips to major Chinese tech conglomerates such as Alibaba, ByteDance, and Baidu next year.
This has resulted in Nvidia's shares plummeting to a five-month low, leaving the once formidable stock to wallow nearly 20% below its record peak in August.
However, Nvidia remains defiant, claiming that this kerfuffle won't make a significant dent in the near term and that there is still high demand for its advanced chips.
In a bid to safeguard U.S. military might from Beijing's clutches via AI technology, the Biden administration clamped down on chip exports to China earlier this month.
These trade restrictions, kicking off in November, not only target China, but also countries like Iran and Russia.
Is this the end of the runway for Nvidia or can the AI titan overcome this as just a bump on the road?
Source: Read More
Nvidia Corp, the artificial intelligence (AI) titan, witnessed a 5% drop in shares after rumors of possibly cancelling up to a whopping $5 billion in advanced chip orders to China, thanks to fresh U.S. government restrictions.
Evidently, the new rules laid down by the U.S. Commerce Department have thrown a monkey wrench into Nvidia's plans to deliver their AI chips to major Chinese tech conglomerates such as Alibaba, ByteDance, and Baidu next year.
This has resulted in Nvidia's shares plummeting to a five-month low, leaving the once formidable stock to wallow nearly 20% below its record peak in August.
However, Nvidia remains defiant, claiming that this kerfuffle won't make a significant dent in the near term and that there is still high demand for its advanced chips.
In a bid to safeguard U.S. military might from Beijing's clutches via AI technology, the Biden administration clamped down on chip exports to China earlier this month.
These trade restrictions, kicking off in November, not only target China, but also countries like Iran and Russia.
Is this the end of the runway for Nvidia or can the AI titan overcome this as just a bump on the road?
Source: Read More
Do you think the US will be able to avoid a recession? |
Red Bull Heir's Staggering $615M Windfall
Mark Mateschitz, youthful billionaire and Red Bull heir, recently cashed in on a hefty $615 million shareholder payout from the energy drink empire.
This was his first financial windfall since inheriting the Austrian-based company from his late father, Dietrich Mateschitz, last year.
Reportedly, $405 million of his earnings were due to the 49% company share he owns, supplemented by an extra $210.4 million, in line with the company's tradition of providing its Austrian owner with an additional bonus.
Notably, this dividend is the lowest it's been in three years, following a record $865 million given to his father before his passing.
Red Bull's profits are majorly sourced from sponsorship payments, that helped bag more than $1 billion last year.
Even with this dividend, Mateschitz's net worth is estimated to be $34.4 billion, making him the 35th wealthiest person on Forbes' real-time billionaires list and by default, Europe's wealthiest millennial.
If anyone's counting, that's how many cans of Red Bull you'll need to sell to match his fortune - a whopping 11.6 billion sold last year.
Source: Read More
Mark Mateschitz, youthful billionaire and Red Bull heir, recently cashed in on a hefty $615 million shareholder payout from the energy drink empire.
This was his first financial windfall since inheriting the Austrian-based company from his late father, Dietrich Mateschitz, last year.
Reportedly, $405 million of his earnings were due to the 49% company share he owns, supplemented by an extra $210.4 million, in line with the company's tradition of providing its Austrian owner with an additional bonus.
Notably, this dividend is the lowest it's been in three years, following a record $865 million given to his father before his passing.
Red Bull's profits are majorly sourced from sponsorship payments, that helped bag more than $1 billion last year.
Even with this dividend, Mateschitz's net worth is estimated to be $34.4 billion, making him the 35th wealthiest person on Forbes' real-time billionaires list and by default, Europe's wealthiest millennial.
If anyone's counting, that's how many cans of Red Bull you'll need to sell to match his fortune - a whopping 11.6 billion sold last year.
Source: Read More
Bitcoin Bonanza
Fifteen years after its silent birth, Bitcoin is boasting a rambunctious 27% rally in October, its most monstrous monthly leap since the dawn of 2021.
This bonanza is fueled by feverish speculations that the heavy-hitting US Securities and Exchange Commission (SEC) is on the brink of giving the green light to Bitcoin ETFs, ending a decade-long watchful waiting.
Set to shake up the mainstream, Bitcoin is trading at a head-spinning $34,450 compared to last December's $16,540, signaling a pivotal moment in the history of this digital dynamo.
Bitcoin, the crypto-champion, is finally staring down the barrel of mainstream acceptance, while the SEC seems set to make an entrance with a game-changing verdict.
Source: Read More
Fifteen years after its silent birth, Bitcoin is boasting a rambunctious 27% rally in October, its most monstrous monthly leap since the dawn of 2021.
This bonanza is fueled by feverish speculations that the heavy-hitting US Securities and Exchange Commission (SEC) is on the brink of giving the green light to Bitcoin ETFs, ending a decade-long watchful waiting.
Set to shake up the mainstream, Bitcoin is trading at a head-spinning $34,450 compared to last December's $16,540, signaling a pivotal moment in the history of this digital dynamo.
Bitcoin, the crypto-champion, is finally staring down the barrel of mainstream acceptance, while the SEC seems set to make an entrance with a game-changing verdict.
Source: Read More
Baked with love,
Anna Eisenberg ❤️
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