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X, Starlink, and Tesla : Musk's Conflicts Rattle Wall Street with Data-Driven Concerns
#Musk's #MuskMagic #BinanceAppHomepage #binancexindia
#binance4ever
Elon Musk’s companies, X (formerly Twitter), Starlink, and Tesla, are causing ripples across Wall Street, sparking uncertainty and market volatility. The recent regulatory blockades in Brazil, where X refused to remove far-right-linked profiles, have intensified tensions, affecting Starlink's satellite services as well. X now faces fines exceeding $1.5 million from the Brazilian government, with more expected. Starlink, which provides crucial internet services, is also under scrutiny, impacting its operations and customer reach in the region.
Simultaneously, Tesla, a cornerstone in the tech stock market, remains under pressure due to Musk’s legal and regulatory challenges across multiple fronts. Tesla's stock has dropped over 30% since its November 2021 peak, falling from $272 to $183 in July 2024. Investors remain wary as the company's RSI hit a "strong sell" signal, creating a downward trend. Recent data shows Tesla has lost over 15% market share in EV sales to competitors like BYD and Rivian, amplifying fears of declining dominance.
Broader economic concerns also compound these issues. The U.S. Federal Reserve is closely watched as it prepares a potential 25 basis point rate hike, aiming to temper inflation but also risking further market instability. The Bank of Canada’s third consecutive rate cut signals mixed signals in the North American economy, with growth flatlining. Meanwhile, oil prices face downward pressure as Brent and WTI post monthly losses, and OPEC+ considers supply increases in October.
As China's manufacturing PMI data shows the worst contraction in six months, global economic uncertainty heightens. Musk’s companies, facing political and regulatory storms, could further aggravate this market volatility. Investors are bracing for possible further corrections in Tesla’s stock price, with analysts eyeing potential drops to $138.88 or even $101 if bearish patterns continue.
#binance4ever
Elon Musk’s companies, X (formerly Twitter), Starlink, and Tesla, are causing ripples across Wall Street, sparking uncertainty and market volatility. The recent regulatory blockades in Brazil, where X refused to remove far-right-linked profiles, have intensified tensions, affecting Starlink's satellite services as well. X now faces fines exceeding $1.5 million from the Brazilian government, with more expected. Starlink, which provides crucial internet services, is also under scrutiny, impacting its operations and customer reach in the region.
Simultaneously, Tesla, a cornerstone in the tech stock market, remains under pressure due to Musk’s legal and regulatory challenges across multiple fronts. Tesla's stock has dropped over 30% since its November 2021 peak, falling from $272 to $183 in July 2024. Investors remain wary as the company's RSI hit a "strong sell" signal, creating a downward trend. Recent data shows Tesla has lost over 15% market share in EV sales to competitors like BYD and Rivian, amplifying fears of declining dominance.
Broader economic concerns also compound these issues. The U.S. Federal Reserve is closely watched as it prepares a potential 25 basis point rate hike, aiming to temper inflation but also risking further market instability. The Bank of Canada’s third consecutive rate cut signals mixed signals in the North American economy, with growth flatlining. Meanwhile, oil prices face downward pressure as Brent and WTI post monthly losses, and OPEC+ considers supply increases in October.
As China's manufacturing PMI data shows the worst contraction in six months, global economic uncertainty heightens. Musk’s companies, facing political and regulatory storms, could further aggravate this market volatility. Investors are bracing for possible further corrections in Tesla’s stock price, with analysts eyeing potential drops to $138.88 or even $101 if bearish patterns continue.
Over $14.8 billion worth of Bitcoin
BTC $BTC
$59,203 could soon flood the market and put more downward pressure on price.
The US government holds over 203,000 Bitcoin worth $12.1 billion, while defunct crypto exchange Mt. Gox is set to distribute another 46,000 Bitcoin worth over $2.7 billion.
Mt. Gox is set to distribute the $2.7 billion before the end of 2024 on Kraken, but the repayments are unlikely to cause a significant market impact, according to an Aug. 29 report by crypto analytics provider Kaiko:“Kraken has handled BTC ETF flows with just a minor increase in slippage at the US market close.
Its liquidity profile suggests that any additional selling pressure from the Mt. Gox repayments is unlikely to cause structural issues that could affect the broader market.”#DogecoinCommunity
Mt. Gox creditors have been waiting to receive over $9.4 billion worth of Bitcoin for the past 10 years, which has since appreciated over 8,500% in value, meaning that numerous investors will likely look to sell.
Musk, Tesla beat Dogecoin manipulation lawsuitMusk and his electric automotive company, Tesla, have won the dismissal of a lawsuit that accused them of manipulating the price of Dogecoin, causing $258 billion in damages. #MuskMagic
The lawsuit was tossed in an Aug. 29 decision by US District Judge Alvin Hellerstein in the US District Court for the Southern District of New York.
Judge Hellerstein said the defendants made several “material misrepresentations” of Musk’s tweets about Dogecoin, which included Musk saying he would become the official CEO of Dogecoin and that Musk may put a “literal” Dogecoin in a SpaceX vehicle and fly it to the moon. #SpaceX
“These statements are aspirational and puffery, not factual, and susceptible to being falsified [...] and no reasonable investor could rely upon them.”
A group of
disgruntled Dogecoin DOGE$0.10 investors filed a lawsuit against Musk and Tesla in June 2022, suing Musk for a staggering $258 billion in damages.
BTC $BTC
$59,203 could soon flood the market and put more downward pressure on price.
The US government holds over 203,000 Bitcoin worth $12.1 billion, while defunct crypto exchange Mt. Gox is set to distribute another 46,000 Bitcoin worth over $2.7 billion.
Mt. Gox is set to distribute the $2.7 billion before the end of 2024 on Kraken, but the repayments are unlikely to cause a significant market impact, according to an Aug. 29 report by crypto analytics provider Kaiko:“Kraken has handled BTC ETF flows with just a minor increase in slippage at the US market close.
Its liquidity profile suggests that any additional selling pressure from the Mt. Gox repayments is unlikely to cause structural issues that could affect the broader market.”#DogecoinCommunity
Mt. Gox creditors have been waiting to receive over $9.4 billion worth of Bitcoin for the past 10 years, which has since appreciated over 8,500% in value, meaning that numerous investors will likely look to sell.
Musk, Tesla beat Dogecoin manipulation lawsuitMusk and his electric automotive company, Tesla, have won the dismissal of a lawsuit that accused them of manipulating the price of Dogecoin, causing $258 billion in damages. #MuskMagic
The lawsuit was tossed in an Aug. 29 decision by US District Judge Alvin Hellerstein in the US District Court for the Southern District of New York.
Judge Hellerstein said the defendants made several “material misrepresentations” of Musk’s tweets about Dogecoin, which included Musk saying he would become the official CEO of Dogecoin and that Musk may put a “literal” Dogecoin in a SpaceX vehicle and fly it to the moon. #SpaceX
“These statements are aspirational and puffery, not factual, and susceptible to being falsified [...] and no reasonable investor could rely upon them.”
A group of
disgruntled Dogecoin DOGE$0.10 investors filed a lawsuit against Musk and Tesla in June 2022, suing Musk for a staggering $258 billion in damages.
