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Despite the green ticks seen in key tech stocks, traders appear to have taken profit off the shares of Apple and Tesla as both stocks strive to stabilize after the implementation of their respective stock splits.
Through a filing to the SEC, Baillie Gifford & Co. disclosed that it has sold 19.23M of Tesla (TSLA) shares to meet the company’s internal guidelines. Tesla shares dropped by nearly 5% yesterday and lost another 2% after hours.
Tesla plans to sell its stocks worth $5 billion through banks. Wedbush analyst Dan Ives called this idea a “smart move”.
With the Dow measuring the stock performance of 30 large companies listed on stock exchanges in the United States, its rise is an indication that the big market cap companies are headed for a bull run.
While the euphoria related to Tesla and Apple stock split has caught up with investors seeing this as an opportunity to get their hands on the tech stocks, analysts believe this tendency may be somewhat misguided.
Both Tesla and Apple are beginning stock split trading today, giving investors the opportunity to access additional shares in the companies.
Since President Donald Trump issued the executive order prompting TikTok to get acquired by a U.S.-based company or to risk being banned in the country, some companies have already shown their interest in buying TikTok.
All three major U.S. stock indexes ended the week higher than last Friday’s close, which represents the fifth consecutive weekly gains for the S&P 500 and the Nasdaq.
If the TikTok deal goes through, it can give a massive boost to Walmart’s online advertisement and e-commerce business. Besides, Walmart will have a strong footprint in the social media world competing directly against giants like Facebook, Amazon, and Alphabet.
The e-commerce retail giant Walmart is the new player in the race for acquiring the Chinese social media platform TikTok. However, Walmart will be joining Microsoft in the bid for TikTok. Walmart sees a massive opportunity in integrating TikTok’s audience to its e-commerce retail business.
With the new approach to inflation, the Fed aims to support the labor market and broader economy by keeping interest rates lower for a longer period of time.
Electric vehicle stocks are climbing consistently, with Tesla hitting a market cap over $400 billion, which also increased Elon Musk’s net worth.
According to Facebook, Apple’s privacy policy has “forced” its decision to stop collecting identifiers for advertisers on devices with iOS 14 and limit the data that apps can collect using its services.
A push by the Trump administration has got Microsoft to consider a massive acquisition of TikTok’s global operations. It remains to be seen if Microsoft is willing to shell some more tens of billions of dollars for this deal.
American Airlines will fly less than 50% of its normal schedule in the fourth quarter. International flights will be reduced to only 25% of last-year levels.