Elon Musk’s Boring Company Ghosts Cities Across America

Elon Musk’s Boring Company Ghosts Cities Across America

ONTARIO, Calif.—The unsolicited proposal from Elon Musk’s tunnel-building venture arrived in January 2020. To the local transportation authority, it felt like finding Willy Wonka’s golden ticket. Officials had started planning for a street-level rail connection between booming Ontario International Airport and a commuter train station 4 miles away, with an estimated cost north of $1 … Read more

Crypto Entrepreneurs Fail to Capture Elon Musk’s Attention With $600,000 Goat Statue

Crypto Entrepreneurs Fail to Capture Elon Musk’s Attention With 0,000 Goat Statue

AUSTIN, Texas—Even as a cold night started to settle outside Tesla ‘s headquarters here on Saturday, a group of cryptocurrency entrepreneurs had no plans to leave until Elon Musk, the man they named their currency after, accepted a 12,000-pound sculpture of a Mr. Musk-headed goat riding a rocket. It is the latest stunt in the … Read more

Carvana Faces Cash Crunch From High Debt, Rising Interest Rates

Carvana Faces Cash Crunch From High Debt, Rising Interest Rates

Carvana Co. CVNA -3.13% , the used-car dealer that was a pandemic winner, is rushing to conserve cash as once-plentiful financing options dry up and business deteriorates. On Friday, Carvana laid off about 1,500 people, its second round in six months. Its weakening finances mean raising funds would be difficult and costly, and it could … Read more

Collapse of Carvana, the ‘Amazon of Used Cars’, Continues

Collapse of Carvana, the ‘Amazon of Used Cars’, Continues

The sky is not clearing up for Carvana.  On the contrary, big clouds continue to gather over the company which was one of the big winners of the covid-19 pandemic, with a massive growth.  Since announcing its quarterly results on Nov. 3, Carvana  (CVNA) – Get Free Report shares have lost 44% of their value and … Read more

Elon Musk’s Tesla Compensation Trial in Delaware Court Kicks Off

Elon Musk’s Tesla Compensation Trial in Delaware Court Kicks Off

WILMINGTON, Del.—The trial over Elon Musk ‘s multibillion-dollar pay package at Tesla Inc. TSLA -1.78% kicked off Monday morning in Delaware’s business-law court. A Tesla shareholder, Richard Tornetta, is seeking to nullify Mr. Musk’s 2018 compensation grant, valued at around $52 billion at recent share prices. The plaintiff is alleging that the board at the … Read more

Elon Musk Names His Top 3 Cryptocurrencies

Elon Musk Names His Top 3 Cryptocurrencies

Elon Musk is a crypto evangelist.  The billionaire is one of the most influential voices in the cryptocurrency market.  An announcement or comment from him about a digital currency can radically change the evolution of this asset. For those who follow the crypto market closely, they know that the billionaire is the main backer of meme … Read more

Elon Musk Humiliates a Former Star CEO

Elon Musk Humiliates a Former Star CEO

Elon Musk is non conventional.  He alone manages five companies, each of which plays an important role in their respective sector. The stature of the billionaire also adds pressure, as his detractors would be thrilled if one of his companies were to fail. Of these five companies, three occupy important spots in popular imagery. Tesla  … Read more

Citi says investors have up to six weeks to keep squeezing the bears after the inflation surprise

Citi says investors have up to six weeks to keep squeezing the bears after the inflation surprise

Well, that was something. Inflation came in a bit below forecast, and then the rockets came out — the best one-day percentage rise for the S&P 500 SPX, +5.54% since April 6, 2020, and the best one-day percentage rise for the Nasdaq Composite since March 24, 2020. If inflation has truly peaked, there’s really just … Read more