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Tesla shares slump as Elon Musk’s private jet no longer tracked on Twitter

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2 years ago

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Tesla shares have fallen to their lowest levels in more than two years as investors complain CEO Elon Musk is more interested in Twitter than the electric car company.

 
Tesla shares have fallen to their lowest levels in more than two years as investors complain CEO Elon Musk is more interested in Twitter than the electric car company.

The company is among the worst performers in the automotive and tech sectors this year, as investors fear Musk could offload more shares in the company to prop up the struggling social media platform.

Investors are also concerned Musk’s antics could hurt brand and sales of Tesla, as the electric car company starts to face more competition in the sector.

This all comes on the back of Twitter banning an account that tracked Musk’s private jet.

@ElonJet used flight tracking information to tweet every time Musk plane took off and landed, putting out alerts.

The account operated by Jack Sweeney had accumulated half a million followers.

Musk said in a tweet in November that his commitment to free speech “extends even to not banning the account following my plane, even though that is a direct personal safety risk”.

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ASX positioned for strong start after positive stock rebound

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1 day ago

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September 10, 2024

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The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

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Elon Musk is projected to become the world’s first trillionaire

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2 days ago

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September 9, 2024

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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Treasury Secretary believes the U.S. are on track for a “safe landing”

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2 days ago

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September 9, 2024

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Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

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