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10-Q: Q2 2024 Earnings Report
Tesla, Inc. keeps cashing out another $2.59 million from "wooden Sister".
Cathy Wood's Ark Investments sold another 2977 shares of Tesla, Inc. on Monday, valued at about $2.59 million at the closing price, taking advantage of the stock's recent rise to cash out some of the money. Tesla, Inc. shares rose 3.21 per cent to $870.11 on Monday, up 12.2 per cent so far this month and 19.2 per cent so far this year. Since the share price of Musk-led company began to rise in early September, Ark Investment has cut its position 11 times, cashing out a total of about $770 million. Wood's three funds-Ark Automation Technology and Robot ETF, Ark Innovation ETF and Ark
The Fed's Bullard: Policymakers Can't Expect High Inflation to Dispel
James Bulllard, Governor of the US Federal Reserve Bank of St. Louis, said that the inflation rate is rising at the fastest rate in 30 years. Although there is a certain possibility that it will dissipate in the next six months, the central bank cannot expect this situation to happen. Bullard said he believes the probability that inflation will dissipate and persist is 50%, respectively. Bullard reiterated his hope that the Federal Reserve will begin reducing the size of monthly asset purchases in November and end by the end of the first quarter of next year. Bullard said the growth rate of people infected with the Delta variant virus slowed in the third quarter, but “from an economic perspective
Private equity giant KKR hires Spiegel, the world's richest post-90s, as independent director
Us private equity giant KKR Group announced on Wednesday that it has appointed Snap Inc co-founder Evan Spiegel as an independent director. This will increase the number of independent directors in the 15-seat board of KKR to 11. Spiegel is a 31-year-old co-founder and CEO of social media company Snap Inc. He now has a net worth of $13.6 billion, according to the Bloomberg Billionaires Index.
In the global supply chain crisis, British consumers snapped up turkeys for fear of being out of stock at Christmas
British shoppers are hoarding frozen turkeys weeks in advance because of fears that a growing supply chain crisis will lead to shortages of the most popular food during the Christmas season. At Aldi, a discount supermarket chain, about 1500 frozen turkeys are sold every day, four times as many as in the same period last year; sales of Christmas pudding are up 45 per cent. As the supply chain crisis in the UK extends, shoppers are hoarding these items ahead of time, fearing that their inventory could run out when Christmas comes. The United States faces a similar problem, and experts say it may be difficult for American consumers to buy turkey on Thanksgiving, especially those in short supply
Is Biden raising taxes? Wall Street also doesn't agree
Worried about how US President Joe Biden's tax increase plan might affect company profits? Even professional forecasters disagree on this. According to the latest survey, of the 15 strategists who provided earnings forecasts for S&P 500 constituent stock companies in 2022, only one-third considered the impact of tax rate increases. Nearly half of the respondents said their data did not assume any tax increases, and two did not specify which faction they belong to. For investors, it all boils down to a question: has the risk been digested by the market? If not, these sky-high valuations might seem even more unreasonable.
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