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Big short on Tesla: Huge bets on tumbling Tesla stock

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In January this year the Tesla share price hit a record high of 880 US Dollars.

Since then it’s been a very different story for Elon Musk’s company, and the short sellers are watching.

So for anyone who’s interested in the investing world…of even if you just love Christian Bale and Ryan Gosling you must have seen the movie ‘The Big Short’…

The man, the myth, Matthew Mccaungheny.

Anyway, so the movie follows the real lives of several financial-industry professionals in the mid-2000s—tracking the rise and then collapse of the real estate market…

Christian Bale plays the character of Michael Burry…he’s best known for his ‘billion-dollar short’ against the US housing bubble and he made money….

Fast forward to today and Burry has done it again…slamming Tesla’s stock price as “ridiculous”…

Our ‘market strategist Daniel Weiner’ breaks down how big he’s betting.

Burry has been scathing of Tesla, comparing the company hype to the dot-com phase and housing bubbles, he even told shareholders to quote “enjoy it while it lasts”

So why is he so confident the share price is too hot?

On March 31 this year Burry”s investment firm held bearish ‘put options’ on over 800 thousand Tesla shares…

This now gives him the right to sell those shares – worth around $534 million – at a specified “strike price” before a certain date…

If Tesla’s stock price falls below the strike price before the options expire, Burry can sell his shares for a profit…

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Money

Ferrari’s debut high-performance electric vehicle will be priced above $500,000

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Ferrari has unveiled details about its inaugural electric car, slated to be priced upwards of $500,000, as first reported by Reuters.

This announcement comes amidst growing global interest and competition in electric vehicles, with Ferrari aiming to blend its iconic design prowess with sustainable technology.

The Italian automaker, renowned for its high-performance sports cars, is expected to maintain its commitment to superior craftsmanship and engineering excellence in its electric offering.

Following the EV announcement, Ferrari also confirmed plans to establish a new manufacturing plant aimed at enhancing production flexibility and significantly reducing car development times.

Mike Costello from Cox Automotive joins to discuss the latest in EVs. #featured #trending

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Nvidia surpasses Microsoft as the most valuable company in the world

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Nvidia has emerged as the world’s most valuable company, surpassing Microsoft with a market value of over $3.3 trillion.

This shift comes on the heels of Nvidia’s consistent growth in the semiconductor sector and its strategic advancements in artificial intelligence and gaming technologies.

This milestone marks a significant validation of Nvidia’s aggressive expansion and innovation strategies under CEO Jensen Huang, who has steered the company towards dominance in high-performance computing.

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Money

Finance expert empowers his social audience with accessible wealth tips

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The right strategy can change the game for your financial freedom. Meet the advisor making his tips accessible to all.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by James Wrigley, Financial Advisor at First Financial. #wyld money #trending

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