In this week’s Recap, Marcello tells us how Tesla is making headlines with the launch of its new robots, driverless taxi, and driverless van, showcasing advancements in AI and automation. Meanwhile, Warren Buffett continues his massive sell-off, shedding billions of dollars in stocks over the past few months, signaling caution in the markets. And in the world of media, Joe Rogan’s highly anticipated interview with Donald Trump has sparked conversations about politics, media, and the future of the U.S.
Hurricane Milton marched across Florida starting on Wednesday & into Thursday, as the storm hit Florida’s west coast as a Category 3 hurricane, whipping up deadly tornadoes, destroying homes & knocking out power to 3.3M customers, but the Tampa Bay metropolitan area appeared to have escaped without the catastrophic flooding that had been feared. Authorities were still waiting for rivers to crest, but so far water levels were at or below what they received with Hurricane Helene 2 weeks ago.
Trump Media & Technology Group, the parent firm of Donald Trump’s Truth Social, rose 18.54% on Tuesday at $21.80, up for a 4th session of gains, in the longest rally since June, as investors assess Elon Musk support & latest media appearances by VP Harris as the Democratic nominee for president. More than 45M DJT shares were exchanged Tuesday, more than tripling its 30-day average volume. Trump owns nearly 57% of Trump Media, in a stake worth almost $2.5B as of Tuesday, gaining near $400M in valuation for the former president, who has vowed not to sell his shares. The stock is up +37.89% in the past 5 days & +30.70% in the past month.
European stock markets were higher on Friday,at more than a 1-week high as investors shifted their focus to updates on China’s stimulus plans, corporate earnings and an interest rate decision by the European Central Bank. Traders were also digesting the return of growth in the U.K. for the month of August & the posting on Thursday of France’s national budget.
Shares of the U.S. based electric vehicle (EV) maker Tesla fell -8.78% on Friday at $217.80, after its robotaxi event underwhelmed investors. Morgan Stanley analysts noted that the event overall disappointed expectations, due to a lack of details in several areas, including how the company is going to compete against ride-sharing companies, like Lyft & Uber. Shares of those firms jumped following the event, with Lyft surging +9.59% at $13.60 & Uber gaining +10.81% at $86.34. Tesla stock is down -12.26% in the past 3 months, -12.35% in 2024 & -13.27% y/y, with a market cap of $695.79B.
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