Saudi Arabia has reportedly slashed its exposure to Tesla. Part of the SEC’s complaint against Tesla and Elon Musk last year was related to Musk’s claims that Saudi Arabia was backing him in taking the company private. The SEC fined Tesla and Musk separately for $ 20 million each in the debacle. According to the Financial Times, the Saudi Public Investment Fund made a move on January 17th to hedge its investments against expected damage to TSLA stock. They retain their 4.9% holdings in TSLA, but they will not actually lose any money if things go south for TSLA. The arrangement
Trade Wars, Brexit & a Weak 2019 Forecast: What’s Prompting Asian and European Markets to Decline?
By CCN.com: Asian and European markets opened Tuesday on a weaker note as the International Monetary Fund (IMF) warned about sluggish global growth in 2019. Weak Chinese Market Forecasts The Asian session primarily saw a slowdown in the Chinese economy. At 0625 UTC, the Shanghai Composite index was trading at 2579.669 points, down 1.15% from
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Dow Falls 500 Points after Tim Cook Slashes Apple Revenue Forecast
The Dow, S&P 500, and Nasdaq all plunged at the opening of trading today and continued to fall after Apple CEO Tim Cook suddenly revised Apple’s first-quarter revenue predictions. Apple shares have dropped nearly 10% as of the time of writing, putting the tech giant on track for its worst daily loss in more than
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Crypto Bull Mike Novogratz Trims Short-Term Bitcoin Price Forecast [Again]
One of the cryptocurrency market’s biggest bulls has once again trimmed his optimistic short-term bitcoin price forecast, stating this week that he does not believe that “digital gold” will reach the five-figure mark again until 2019. According to CNBC, Mike Novogratz, the billionaire founder of cryptocurrency merchant bank Galaxy Digital said on stage at the … Continued
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ICON Records 23% Gain Again While Crypto Market Sees Gloomy Forecast
ICON (ICX) and WanChain (WAN) have recorded massive 23 percent gains again in the past 24 hours, becoming the two best performing assets in the global crypto market for two days straight. The valuation of the crypto market increased from $ 213 billion to $ 214 billion on August 27 as some major cryptocurrencies like EOS and
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71% Forecast ‘Substantial Increase’ For Cryptocurrency by 2019 in Huobi Report
Over 70% of “global investors” responding to questions from major exchange Huobi believe the cryptocurrency market cap will expand by more than one third this year.
Investors, Experts: Altcoins To See Rebound
Part of findings in Huobi’s H1 market report, Global Blockchain Industry Overview and Prospects, published last month, those asked overwhelmingly favored a “substantial increase” in market value as the most likely outcome for the second half of 2018.
A further 18.6% expect a “slight increase” of between 10 and 30 percent, while those predicting flat performance or a “slump” number only around 10%.