Tesla shares fell nearly six per cent after a string of brokerages cut their price targets on the electric-vehicle maker’s stock, and they’re blaming Elon Musk’s Twitter distraction.
As a result, Tesla’s shares hit a more than two-year low.
Analysts say investors are worried that Musk may need to sell shares further to fund Twitter and sentiment around the acquisition of the social media firm could hurt the EV maker’s brand.
One major brokerage slashed its price target on the company’s shares by a third, saying investors fear damage to the Tesla brand.
The price target cuts come ahead of Tesla’s quarterly deliveries report expected in early January amid weakening demand in China.
Meanwhile, reports today that Musk is actively searching for a new chief executive officer for Twitter, following his poll about whether he should step down as Twitter CEO.
Musk and Twitter are yet to respond.
Who killed the crypto boom?
It has been a shocking year for crypto investors, the year that crypto came crashing down to earth.
What began as a trickle became a turning point for crypto, losing their luster and exposed as a fringe product that most sensitive, experienced investors approached with skepticism.
So how did crypto climb so high under the cover of the pandemic?
By 2022, the ads were everywhere. Crypto was taking over the superbowl, and global sport.
Hollywood’s biggest names were jumping on board, and suddenly the big banking firms were taking notice.
The tokens might have been virtual, but crypto was become a real threat, and of real interest to next gen investors. #crypto #ftx #bitcoin
U.S. Judge dismisses Dfinity-Meta trademark case
Meta has resolved a trademark lawsuit with Dfinity Foundation
Dfinity sued Meta over the infinity symbol logo that Meta adopted after changing its name from Facebook.
Dfinity alleged that the logo would cause confusion with Dfinity’s infinity-symbol trademarks.
The two parties have asked the San Francisco federal court to dismiss the case with prejudice.
Meta is still facing trademark lawsuits from Meta X and Metacapital over its name change. #Dfinity #Meta
Elon Musk’s Tesla was blasted into space five years ago
Musk’s Tesla is currently floating through the galaxy
Exactly five years ago,Elon Musk’s Tesla roadster was launched into space to travel on an endless joy ride through the cosmic wilderness.
And how’s this for a journey.
On its anniversary, estimates suggest the vehicle has completed three and one quarter loops around the sun and is sitting 326 kilometres from Earth.
It’s also logged up more than 4 billion kilometres, mostly travelling through a barren vacuum.
In space terms, it did get close to Mars at one point – passing within 8 million ks of the planet – or about 20 times the distance between the Earth and the moon.
Although, it’s difficult to say where the vehicle is exactly with or whether it’s still even in one piece.
It is possible the roadster may have been hit by a meteoroid or eroded by radiation. #trending #fetured
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