Investors betting against Elon Musk’s electric-auto maker Tesla collectively lost more than $1.5 on Thursday after its solid earnings, according to data firm S3 Analytics.
Tesla short sellers are now down more than $5.2 billion this year in mark-to-market losses after losing $2.89 billion in 2019.
Since the stock’s June low, Tesla shorts have covered 19.11 million shares, worth $11.1 billion, and are down $12.43 billion in mark-to-market losses.
In October, Xi gave a speech saying China needs to “seize the opportunities” presented by blockchain, in what appeared to be one of the first instances of a major world leader backing the tech.
Over 500 blockchain projects have been registered with the government.
Experts say China could define the technology if it’s able to take a lead — which could be “dangerous.”
“A viable space tourism business is what you pay for today … but a chance to disrupt the multi-trillion-dollar airline [total addressable market] is what is really likely to drive the upside,” Morgan Stanley analyst Adam Jonas wrote in a note to investors.
Read MoreSoftBank reported its first quarterly loss in 14 years on Wednesday, whiplashed by an $8.9 billion hit at its giant Vision Fund and marking a rare, humbling moment for CEO Masayoshi Son over his backing of troubled startup WeWork.
The scale of the loss shows the risks in Son’s strategy of splashing out big on cash-burning startups. It has also cast a pall on his efforts to raise a second massive fund.
Read MoreCyberattacks in the Middle East are on the rise, and many of them are targeting the oil and gas sector, according to a new report from cybersecurity firm DarkMatter.
Earlier this year, DarkMatter was hit by allegations that it was linked to a surveillance and hacking operation carried out for the UAE government.
