Reuters reports that Tesla's shares
are down about 30% this year.
Since 2021, shares have fallen
over 50%, causing the company to
lose $600 billion in market value.
.
Q1 results fell short of analysts' expectations.
As a result, many of Tesla's
institutional shareholders are saying
goodbye to the stock, Reuters reports.
.
Gabelli Funds sold all of
its 65,900 shares in Q1.
.
It started to feel like the
fundamentals were becoming
detached from reality.
, John Belton, a portfolio manager at Gabelli Funds, via NPR .
We think the stock works best when
there are auto company fundamentals
that justify the stock price, John Belton, a portfolio manager at Gabelli Funds, via NPR .
Ross Gerber of Gerber Kawasaki Wealth
& Investment Management has sold
about 200,000 Tesla shares this year.
.
I think the story is over,
is the best way to say it, Ross Gerber of Gerber Kawasaki Wealth
& Investment Management, via NPR.
Over the last year and a half, Elon’s
personal quests based on the way that
he sees the world have superseded the
interests of Tesla and its shareholders, Ross Gerber of Gerber Kawasaki Wealth
& Investment Management, via NPR.
However, not all of Wall Street
has given up on the stock.
Five mutual funds tracked by Morningstar
increased their Tesla shares last quarter,
and 19 analysts have given Tesla a "buy" or "strong buy" rating, Reuters reports.
Elon Musk , Welcomes 12th Child.
Musk and Neuralink executive Shivon Zilis welcomed their third child together earlier this year, CBS News reports.
Musk recently confirmed the birth in a
'New York Post' interview but didn't
share the baby's name or sex.
He also addressed rumors
that the birth was a secret.
As for 'secretly fathered,'
that is also false. , Elon Musk, to the 'New York Post'.
All our friends and family know. Failure
to issue a press release, which would
be bizarre, does not mean 'secret.', Elon Musk, to the 'New York Post'.
Musk and Zilis also had twins in 2021,
months before the Tesla and SpaceX CEO
had a second child with Grimes.
Musk and Zilis also had twins in 2021,
months before the Tesla and SpaceX CEO
had a second child with Grimes.
He had a third child with Grimes in 2023.
In a 2022 tweet, Musk said that declining
birth rates represent "the biggest
danger civilization faces by far.".
He also said, "Doing my best to
help the underpopulation crisis.".
Many countries are already well
below replacement rate, and the
trend is that almost all will be. This is
simply a fact, not a 'debunked theory.', Elon Musk, to the 'New York Post'.
Musk also fathered six children with
Justine Wilson, although they lost their first child to Sudden Infant Death Syndrome (SIDS).
He was married to the
Canadian author from 2000 to 2008
Credit: Wibbitz Top Stories Duration: 01:30Published
Musk Threatens Ban , After Apple Announces , OpenAI Partnership.
Reuters reports that Elon Musk has threatened to
ban Apple devices at his companies if the iPhone
producer goes forward with plans to integrate OpenAI.
Reuters reports that Elon Musk has threatened to
ban Apple devices at his companies if the iPhone
producer goes forward with plans to integrate OpenAI.
Reuters reports that Elon Musk has threatened to
ban Apple devices at his companies if the iPhone
producer goes forward with plans to integrate OpenAI.
That is an
unacceptable
security violation, Elon Musk, CEO of Tesla & SpaceX, via Reuters.
And visitors will have to
check their Apple devices
at the door, where they will
be stored in a Faraday cage, Elon Musk, CEO of Tesla & SpaceX, via Reuters.
On June 10, Apple announced a number of
new AI features to be introduced across
the company's apps and operating platforms. .
Apple also announced a new partnership
with OpenAI that will see ChatGPT technology
added to all of the company's devices.
According to Apple,
privacy was "at the core"
of its efforts to integrate AI.
It's patently absurd that
Apple isn't smart enough
to make their own AI, yet is
somehow capable of ensuring
that OpenAI will protect
your security & privacy!, Elon Musk, CEO of Tesla & SpaceX, via Reuters.
Previously, Musk sued OpenAI and its CEO Sam Altman
for abandoning the company's original mission to create
AI for the betterment of humanity rather than profit.
Previously, Musk sued OpenAI and its CEO Sam Altman
for abandoning the company's original mission to create
AI for the betterment of humanity rather than profit.
Following the legal challenge, Musk started his own startup, xAI, to challenge OpenAI with an alternative to the popular chatbot ChatGPT.
Following the legal challenge, Musk started his own startup, xAI, to challenge OpenAI with an alternative to the popular chatbot ChatGPT.
Reuters reports that Musk's xAI has been
valued at $24 billion, after raising $6 billion in
series B funding during its last funding round
Credit: Wibbitz Top Stories Duration: 01:30Published
Hertz Sells Teslas for $25,000 , Amid EV Slump.
Hertz Sells Teslas for $25,000 , Amid EV Slump.
Hertz Global Holdings has been trying
to unload Teslas since January.
The move comes after Hertz
revealed plans to buy hundreds of
thousands of electric vehicles (EVs) in 2021.
Our EVs can be found nationwide
in most major metros and
averaging around $25,000, Hertz spokesperson, via email to CNBC.
The sale reflects the EV market's
waning pace of growth.
Even though sales of electric vehicles have "more than quadrupled from 2020 to 2023,".
automakers are currently more concerned about selling hybrids, CNBC reports. .
So if you've been eyeing a Tesla for a
while but waiting for a more manageable price, Hertz' sale may be your answer.
Hertz-certified vehicles undergo
a 115-point inspection and come with
a 12-month/12,000 mile warranty.
Some used EVs are also eligible for tax credits.
Used car expert Yossi Levi offered tips
for purchasing used electric vehicles.
The best bang for the buck
for consumers in the market today,
bar none, is the used electric vehicle.
And the best-value purchase
is likely a three-year-old EV, Yossi Levi, Car Dealership Guy, via CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Tesla Recalls Vehicles , Over Faulty Seat Belt Warning System.
Over 125,000 Tesla vehicles are being recalled in the U.S., the National Highway Traffic Safety Administration (NHTSA) said on May 31.
The recall is due to a seat belt warning
system malfunction, NBC News reports. .
Some vehicles failed to flash
warning lights or make noise when a
driver didn't buckle up, the regulator said. .
The following vehicles
are affected by the recall:.
2012-2024 Model S, 2015-2024 Model X, 2017-2023 Model 3 and 2020-2023 Model Y. .
An over-the-air software update will be released by Tesla in June to fix the issue.
Tesla recalled another 200,000 vehicles in January over a software malfunction that could impede drivers' visibility when reversing.
Almost 4,000 Cybertrucks were also recalled in April over a faulty accelerator pedal pad.
Last month, auto safety regulators
launched an investigation to determine
whether Tesla's December recall of
over 2 million vehicles was adequate.
The recall was to implement new Autopilot safeguards following a string of crashes.
Credit: Wibbitz Top Stories Duration: 01:31Published
Supreme Court Rules That , Some Jan. 6 Defendants, Were Improperly Charged.
NPR reports that the United States Supreme Court voted to limit which defendants accused of taking part in the Jan. 6 Capitol riot can be charged by federal prosecutors.
The decision also casts doubt on two out of
the four felony counts in former President
Donald Trump's election subversion indictment.
According to conservative Chief Justice John Roberts,
the court ruled that the U.S. government must prove , “that the defendant impaired the availability or integrity
for use in an official proceeding of records, documents,
objects, or other things used in an official proceeding.”.
NPR reports that prosecutors relied
on a key criminal statute to prosecute
over 350 participants of the Capitol riot.
The statute makes it a crime to alter or
destroy official documents, or to otherwise
obstruct or impede official proceedings.
Roberts wrote that the statute was
not meant to broaden the meaning of
the law to make it a catchall provision. .
The decision will impact other cases related
to Jan. 6, many of which will have to be
resentenced, retried or defendants will be released. .
NYU law professor Ryan Goodman authored
a study that found only 346 of the 1,417 people
charged in connection with the Capitol riot
were charged under the obstruction statute.
The study also found that 71 people are still
awaiting trial on the obstruction charge, but over
half of them are also charged with another felony.
NPR points out that if found guilty of other felony charges,
the sentencing judge is still allowed to use the charge of
obstruction to determine the length of their sentence.
Credit: Wibbitz Top Stories Duration: 01:31Published
Supreme Court Rules , Against SEC's Authority, to Impose Fines.
NPR reports that the United States Supreme Court
recently voted 6-3 against the Securities and
Exchange Commission's policy on fraudulent conduct. .
NPR reports that the United States Supreme Court
recently voted 6-3 against the Securities and
Exchange Commission's policy on fraudulent conduct. .
Chief Justice John Roberts, writing for the court's
conservative majority, said the current rules deprive accused
transgressors of their constitutional right to a jury trial. .
Chief Justice John Roberts, writing for the court's
conservative majority, said the current rules deprive accused
transgressors of their constitutional right to a jury trial. .
The SEC relies on administrative
law judges (ALJ) to make legal conclusions
in cases brought before the agency.
The Supreme Court's decision has the potential
to send ripples through dozens of agencies,
from labor rights to energy regulation.
The Court did exclude from its decision those
agencies dealing with federal benefits, while some
conservative justices wanted the ruling to go further.
The three liberal justices
in dissent blasted the
decision by the majority. .
The case was brought by a former conservative
radio host and hedge fund manager, George Jarkesy,
following an SEC fraud investigation.
The case was brought by a former conservative
radio host and hedge fund manager, George Jarkesy,
following an SEC fraud investigation.
An in-house evidentiary hearing fined Jarkesy $300,000,
ordered him to pay back almost $700,000 in ill-gotten
profits and barred him from the securities industry.
Jarkesy argued that he was entitled to a jury trial
held in a federal court and that Congress lacked
the power to delegate such authority to the SEC.
NPR reports that Jarkesy's case was supported
by a number of conservative and business groups, and individuals such as Elon Musk.
NPR reports that Jarkesy's case was supported
by a number of conservative and business groups, and individuals such as Elon Musk
Credit: Wibbitz Top Stories Duration: 01:31Published
Amazon Reaches $2 Trillion , in Stock Market Value.
On June 26, Amazon became the 5th American company to join the $2 trillion club, NPR reports. .
Amazon shares ended the day up nearly 4%, giving the company a $2.01 trillion stock market valuation. .
Within the past year,
Amazon's stock has gained 52%.
Part of that gain can be attributed
to investors' enthusiasm about the
company's AI endeavors, NPR reports. .
A big part of the valuation boost has
been cloud and AI. Amazon is going to
be a major player in the AI revolution, Dan Ives, Wedbush tech analyst, via NPR.
Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .
Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .
Amazon CEO Andy Jassy recently said that
AI has rejuvenated the growth of AWS.
The cloud computing unit is reportedly on pace to bring in $100 billion in annual revenue.
Amazon recently invested in Anthropic, a California
AI company, "to develop so-called foundation models
that underpin generative AI systems," NPR reports. .
Amazon also makes its own AI chips.
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia.
Credit: Wibbitz Top Stories Duration: 01:30Published
Border Arrests Fall Over 40% , Since Biden Suspended Asylum Processing.
The Homeland Security Department made the announcement on June 26, NPR reports. .
Average daily arrests that the
Border Patrol has made over a week-long period have dropped below 2,400.
That is a decrease of over 40% from before the president's proclamation went into effect on June 5.
That is a decrease of over 40% from before the president's proclamation went into effect on June 5.
However, arrests need to drop to the
1,500 mark before asylum processing can resume.
Still, the current data marks the lowest number
of arrests since Jan. 17, 2021, NPR reports. .
Last week, President Biden touted a 25% decrease
in border arrests since the order took effect, .
which means they've
dropped a lot more since then.
Homeland Security Secretary Alejandro Mayorkas has called the executive order a "tremendous success.".
We indeed have seen a tremendous
success early on, and I should emphasize
that it is early on in our implementation
of the president’s proclamation and
our accompanying regulation, Alejandro Mayorkas, to CNN.
Mayorkas will address border enforcement
efforts in Tuscon, Arizona, on June 26.
The area has served as "the busiest corridor for illegal crossings" recently, NPR reports.
Credit: Wibbitz Top Stories Duration: 01:31Published
Upcoming Presidential Debate , Between Biden and Trump, Breaks With Tradition.
Upcoming Presidential Debate , Between Biden and Trump, Breaks With Tradition.
On June 27, President Joe Biden and former
President Donald Trump will meet in the
first presidential debate of 2024 in Atlanta.
On June 27, President Joe Biden and former
President Donald Trump will meet in the
first presidential debate of 2024 in Atlanta.
NPR reports that the debate marks the beginning of
a new phase in the presidential election, with less
than five months until Election Day on November 5.
According to the latest NPR/PBS News/Marist polls,
Biden and Trump are nearly tied following a month-long
trend of national surveys with the same results.
According to the latest NPR/PBS News/Marist polls,
Biden and Trump are nearly tied following a month-long
trend of national surveys with the same results.
Breaking with campaign tradition, the debate comes
months earlier than usual, following a set of rules
agreed to by candidates and without a live audience.
The event is scheduled to start at 9 p.m. ET
and is expected to run for 90 minutes.
CNN's Jake Tapper and Dana Bash will
moderate the event, which will take
place at the network's Atlanta studio.
CNN's Jake Tapper and Dana Bash will
moderate the event, which will take
place at the network's Atlanta studio.
The presidential debate will also be available
on CNN and the Max streaming platform. .
The presidential debate will also be available
on CNN and the Max streaming platform. .
NPR reports that presidential debates
have traditionally occurred in front of a live
audience and are coordinated by the bipartisan
Commission on Presidential Debates (CPD).
However, both Biden and Trump have said they
will not participate in the CPD's planned debates,
pushing for earlier face offs ahead of the election.
However, both Biden and Trump have said they
will not participate in the CPD's planned debates,
pushing for earlier face offs ahead of the election.
The second debate is scheduled
for September and will be
hosted by ABC News
Credit: Wibbitz Top Stories Duration: 01:31Published
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