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Tesla stock plunged 4.8% yesterday even as the company officially allowed buyers to purchase its cars using bitcoins. The Elon Musk run company has already invested $1.5 billion in bitcoins and plans to retain the bitcoins that buyers pay to purchase its vehicles. Last year, Tesla had raised $13 billion by issuing shares thrice. NIO,…
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US Treasury yields remain on neutral territory this morning after dipping for two days in a row, with the benchmark 10-year rate sliding almost 10 basis points to 1.627% after reaching a post-pandemic high of 1.726% on Friday. Comments from the Chairman of the Federal Reserve, Jerome Powell, and US Treasury Secretary, Janet Yellen, during…
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Oil futures are selling off for a second time in the past five days as multiple European countries are moving to impose tighter restrictions to curve the spread of what seems to be the third wave of COVID in the region. Germany, Europe’s biggest consumer of crude, reported a strong spike in the number of…
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Over the last six months, there has been a lot of chatter over the sectoral shift from growth to value and cyclical stocks. Jim Cramer has now thrown his hat into the ring and sees some cyclical stocks as a good buy. Most cyclical stocks underperformed in 2020 which was not surprising. The fortunes of…
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Oil futures booked their worst daily loss in months as many European countries including Germany and Italy seem to be experiencing what could be another wave of the virus despite the persisting restrictions imposed by governments to slow down the spread. Meanwhile, the controversy surrounding the AstraZeneca/Oxford vaccine amid some alleged side-effects has possibly delayed…
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Nike stock was trading almost 3% lower in US premarket trading today after posting mixed earnings. The stock has outperformed the S&P 500 over the last year. Should you buy the dip in the stock? Nike reported its fiscal third quarter 2021 earnings for the quarter ended 28 February yesterday after the close of markets….
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AMC Entertainment stock was trading higher in US premarket trading today after announcing that it would open nearly all of its cinemas in the US. However, would the reopening draw more people to its cinemas? With a year-to-date rise of 540%, AMC is among the hottest meme stocks that were propped by the Reddit group…
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US stock futures are sliding as US Treasury yields have kept climbing to their highest levels since the pandemic started, with yields of the 10-year note reaching 1.667% this morning in early bond trading action. Bond traders seem to be reacting earlier to the upcoming press conference of Federal Reserve Chairman Jerome Powell after the…
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Per Lekander, fund manager at Lansdowne Partners has said that Tesla stock is in a bubble. The stock has looked weak in 2021 after having risen 740% in 2020. The market opinion has always been mixed on Tesla. There is a large section of the market that believes that Tesla stock is in a bubble…
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Chinese electric vehicle market XPeng Motors has secured a $76.9 million investment from an arm of the Chinese government as the electric vehicle race heats up in the country. Guangdong Yuecai Investment Holdings Co., Ltd, the investment arm of the Guangdong provincial government has invested money into XPeng. “The investment recognizes XPeng’s leadership position in…
