1) Tesla $TSLA And Elon Musk's Wild August Ride
Baby you can drive my car, Yes I'm gonna be a star
Baby you can drive my car, And maybe I'll love you
Tesla $TSLA: "After considering all of these factors, I met with Tesla’s Board of Directors yesterday and let them know that I believe the better path is for Tesla to remain public. The Board indicated that they agree."--Elon Musk writing on tesla.com (Aug 24, 2018). Look on the brightside--"According to ARK Invest’s research, Tesla should be valued somewhere between $700 and $4,000 per share in five years. Taking Tesla private today at $420 per share would undervalue it greatly, depriving many investors of the opportunity to participate in its success. In our view, given the right investment time horizon, TSLA is a deep value stock today"--ark-invest.com. On the other hand: "The corporate-governance disaster that is Tesla continues--Jim Chanos.
Tesla And Elon Musk's Wild August Recapped
Tesla and its headline-stealing CEO Elon Musk had a wild August. Here's how the drama played out on CNBC: the month began with the electric car company reporting second-quarter earnings and Musk apologizing for some recent ill-advised outbursts. But a week later, the Tesla and SpaceX founder took to the social media platform to announce that he wanted to take the company private. It set off a media firestorm that consumed the business news cycle for weeks. But near the end of August, Musk had reversed his position on going private. CNBC.com video above published Aug 30, 2018.
2) Twitter CEO Jack Dorsey: House Energy & Commerce Committee Hearing Sept 5
House Energy and Commerce Committee Chairman Greg Walden (R-OR) announced that Twitter CEO Jack Dorsey will testify before the committee the afternoon of Wednesday, September 5, 2018, regarding Twitter’s algorithms and content monitoring--energycommerce.house.gov.Twitter CEO Dorsey to testify before House panel on September 5 https://t.co/8OobPpllIz pic.twitter.com/GBteJpWWXJ— Reuters Tech News (@ReutersTech) August 25, 2018
The Week: NASDAQ Composite +2.26% | S&P 500 Index +0.93% | DJIA +0.68% The month of August was positive: S&P 500 posted a +3% monthly rise, the Dow advanced +2.2% and the NASDAQ +5.7%.
The biggest winners in the stock market’s hottest sector in August--Technology has led the way, with AMD, Autodesk and Nvidia among the high-fliers--Marketwatch.com.Wall Street's Charging Bull
'U.S. Consumer Confidence Surged in August to Near 18-Year High; Conference Board index climbed to 133.4 this month from 127.9 in July.' From WSJ: https://t.co/RjsexlqHlT— Byron York (@ByronYork) August 28, 2018
- Warren Buffett Says 'I'm Buying Stocks' (video), including Apple $AAPL.
- Trade: U.S. wants quick progress on EU trade issues, officials say | reuters.com. President Donald Trump notified Congress on Friday, Aug 31, 2018, he intends to sign a trade deal with Mexico 90 days from now, and will include Canada "if it is willing," according to a statement from the U.S. Trade Representative--marketwatch.com.
- Reality Check--No-Deal Brexit a/k/a Hard Brexit--UK Prime Minister Theresa May agrees that a no-deal Brexit 'wouldn't be the end of the world' ... the UK would continue trading--sky.com.
- US airlines cut flights to China--chinaeconomicreview.com.
- Malaysia PM confirms cancellation of $20 billion Chinese infrastructure projects--chinaeconomicreview.com.
- News: Signal or Noise? You're On Your Own: "today forty percent of the public believe the “[New York] Times” is biased and evil. And forty percent believe the same about “The Wall Street Journal.” There is no paper of record in the public’s mind. And only a few million people are paying attention to either of these outlets. Youngsters don’t read the newspaper, whether it be physical or virtual, they get their news on the fly, from multiple sources, where it originated does not matter ... Same deal for TV news. Most people don’t see it, check the ratings, they’re miniscule."--Lefsetz.com.
If You Want to Survive this Election with Your Mental Health Intact, Turn Off the "News" and Social Media Now--charleshughsmith.blogspot.com.
“To be completely cured of newspapers, spend a year reading the previous week’s newspapers.”--Nassim Taleb
"Why You Should Stop Reading News"--Shane Parrish
4) ICYMI Tech News:
- Apple $AAPL: Banking on iPhone X: Apple's new phones are the razors, services are the blades--zdnet.com.
- Alphabet $GOOGL $GOOG: Google is facing obstacles in its efforts to establish a presence in China in search, smartphones, autonomous cars, and more--NYTimes.com. Editor's note: anyone surprised?
- Alibaba Puts the Brakes on U.S. Cloud Expansion--theinformation.com.
- U.S. accuses China of `super aggressive` spy campaign on LinkedIn--reuters.com.
- Amazon $AMZN: Amazon's Twitter Army--theguardian.com.
- GDPR is strengthening the hand of giants such as Google and Facebook in the $200 billion global digital advertising industry--reuters.com.
- Artificial Intelligence (AI): Bank Of England Chief Economist Warns Of Disruptive AI Threat In "Fourth Industrial Revolution"--zerohedge.com.
- PayPal partners with Brazilian bank Itaú Unibanco--reuters.com. PayPal also announced a partnership with British bank Barclays last April.
- Trump Effect: Ford kills plan to sell Chinese-made vehicles in the United States--reuters.com.
-- John Poole, Editor, Domain Mondo
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