I guess fears of Mt Gox holders flooding the market with BTC was overexaggerated. In a move that went against the general tech market, bitcoin rocketed by 17% this week while the Nasdaq posted a loss of 3.6%. Why did the Nasdaq drop so precipitously? Fintwit suggests it was mainly driven by investors rotating out of tech stocks and into other industries and small cap in anticipating of a September rate cut.
Tesla is scheduled to unveil its Robotaxi concept on 8/8 but now it's expected to be in October.
I don't think this is a launch announcement but rather announcing a project that will probably take 10+ years to materialize. Just like how long it's taking FSD to live up to its promise. We finally have some potential tech to make FSD viable.
https://www.inc.com/reuters/tesla-delays-planned-summer-robotaxi-launch-until-october.html
Tesla finally dug itself out of the hole and is now in positive territory for the year. Tesla reported 443,956 deliveries well above what investors were expecting.
Bitcoin on the other hand, had a tough weak as reports of Mt Gox's bitcoins stash is being return to its customers which investors are speculating may lead to a glut of BTC hitting the market.
Tesla up more than 8% this week but not sure why. I've been following some prominent Tesla bulls on Twitter and not seeing a reason. Anyone know why? Is it the summer holidays so investors think more people will upgrade to the $99/month FSD, which has $0 marginal cost?
Fairly quiet week across the board. Nothing much to report.