The stock price of Tesla, which is the most invested by Seohak Ants (domestic individual investors who invest in foreign stocks), closed at $149.93 on the New York Stock Exchange on the 18th, down 3.55% from the previous trading day. This is the lowest level for 15 months since the end of January last year. Faced with poor performance, Tesla’s stock price has fallen 39% throughout the year, raising investor concerns.
Logo of Tesla, an American electric car company. / AP Yonhap News
Tesla’s stock price fell for 5 consecutive trading days from the 12th to today. Tesla reached its high point of the year at $293.34 from the closing price on July 18 last year, down about 50% from last year’s peak. Due to the drop in stock prices that day, Tesla’s market capitalization also fell to $477.5 billion (he won about 659 trillion), below $500 billion. This ranks 13th among US listed companies and is lower than Walmart ($477.6 billion).
Analysis suggests that this drop in stock prices reflects investment banks’ disregard for Tesla. Deutsche Bank analyst Emmanuel Rosner downgraded Tesla’s investment status from ‘buy’ to ‘hold’ in a downgrade report. Tesla’s target stock price was also set at $123,
Parviz Shahbazov Discussed Prospects For Cooperation With A…
Azerbaijani Energy Minister Parviz Shahbazov at a meeting in Abu Dhabi with the Director of the European Energy Group of the European Bank for Reconstruction and Development (EBRD) Grzegorz Zielinski discussed projects in which the EBRD may participate, Day.Az reported on Thursday with reference to a message from the Ministry of Energy.
“At the meeting, discussions took place on priority areas of cooperation with the EBRD in the energy sector, in particular, the possibility of the bank supporting the Energy Efficiency Fund in Azerbaijan and implementing pilot projects in the field of energy efficiency,” the press release noted.
Discussions were also held on the creation of the Azerbaijan (Nakhchivan)-Turkey-Europe energy line, projects of the “green” energy corridor Caspian-Black Sea-Europe, connection to the network of solar-wind power plants with a capacity of 1 GW, as well as cooperation issues related to the modernization of the energy system.
“During the conversation, the situation with the preparation of a bill on modernization in the electric power industry was also assessed within the framework of the joint project with the EBRD “Support for the Energy Regulatory Agency”. The parties also discussed an action plan in the energy field within the framework of the upcoming COP29,” the Ministry of Energy emphasized.
The Rise And Fall Of Crypto Trader Avi…
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Home » The Rise and Fall of Crypto Trader Avi Eisenberg: Inside the $110 Million Fraud Scheme
Avi Eisenberg Convicted in $110 Million Crypto Trade Scheme
A recent jury verdict found Avraham “Avi” Eisenberg guilty on all counts of fraud and manipulation in a $110 million cryptocurrency trading scheme involving the Mango Markets platform.
Significance of the Case: This trial marked a significant legal test to determine the applicability of existing U.S. laws on fraud and market manipulation within the decentralized finance (DeFi) sector.
Case Details
- Eisenberg, aged 28, was found responsible for actions on October 11, 2022, where he deliberately inflated the prices of Mango Markets’ native token, MNGO, and futures contracts.
- By leveraging the inflated futures as collateral, Eisenberg borrowed other cryptocurrencies on the platform, withdrew the assets, and left behind his collateral.
- While not disputing the strategy’s facts, Eisenberg argued that his actions were lawful and aligned with the DeFi protocol’s “code is law” principle.
Legal Implications
Overall Impact: The case underscores the application of U.S. laws to the DeFi sector.
Force Majeure Notice To Pakistan By Chinese Company…
Almost two weeks after the terrorist attack on Chinese engineers in Shangla, the Chinese company working on the Dasu Hydropower Project has issued a ‘force majeure’ notice to Pakistan.
This notice is a big blow for Pakistan.
A force majeure notice is usually issued after a natural disaster and means that an event has occurred that was beyond the control of the contracting parties and has resulted in the work not being completed or not being completed on time. The party concerned cannot be held responsible.
On March 26, a suicide bomber rammed a convoy of Chinese engineers traveling from Islamabad to Dasu, killing five Chinese engineers and their Pakistani driver.
The Chinese Foreign Ministry demanded a comprehensive investigation from Pakistan and punishment of those responsible for the attack, besides ensuring the security of Chinese citizens.
The Chinese company is laying a 765 kV transmission line. Sources say the project is already behind the World Bank deadline and the new notice may increase its cost.
Following the Chinese company’s notice, Daso’s chief engineer has sought guidance from NTDC’s chief law officer.
He said that the Chinese company says that the work has been affected after the attack,
CURRENCY MARKET The Ariary Continues Its Rise
Ascending. The national currency continues to appreciate on the interbank currency market. Yesterday, the euro traded at 4,666.35 ariary, a net increase of forty-five points compared to the Mid standards in the space of two weeks.
According to the Ministry of Finance, this performance is due to the increase in the supply of foreign currencies on this market. This is due, among other things, to the repatriation and transfer of foreign currency for export products in the last quarter of 2023. Fluctuations of the ariary on the currency market can be represented in sawtooth with cycles, during which the rates of the ariary increase or decrease depending on imports and the international context, vis-à-vis the standards.
In its hundred-day objectives, the Ministry of Economy and Finance was committed to combating capital flight and repatriating foreign currency. Efforts that have produced convincing results. In the first three months of this year, the foreign exchange repatriation rate for previous exports and similar economic operations was 86% and 71%. For the department, it is the fruit of good governance and efforts made with economic operators.
Thus, the State makes the repatriation and transfer of currencies its hobby horse to better establish monetary stability in a fluctuating economy.
The Stock Market Continues To Fall 2024-04-19 00:04:13
Before Eid, the stock market of the country gave a glimpse of coming out of the continuous decline, but after Eid, it is in decline. On Tuesday, all the indices fell on the two trading days after Eid. However, the transaction which went down to 300 crore rupees increased to 500 crore rupees.
On Tuesday (April 16), the main stock market Dhaka Stock Exchange (DSE) saw a decline in all the indices, but there are more firms in the list of gainers than decliners. However, Chittagong Stock Exchange (CSE), another stock market, has more companies in the list of falling prices than rising prices.
Earlier, when the country’s stock market fell into a continuous price decline, the market capitalization of the Dhaka Stock Exchange decreased by more than one lakh crore rupees. However, before the start of the Eid holiday, the stock market is up for four consecutive working days. As a result, the investors expected that the stock market will be in a positive trend after Eid.
But at the end of the Eid holiday, the share market has again seen a continuous decline. After the big price drop on Monday, the first working day after the Eid holiday,
Rutte Wants To Give Up Part Of Sovereignty…
#Rutte #give #part #sovereignty #capital #market
News & Politics•18 Apr ’24 7:54 PM•Adapted on 18 Apr ’24 9:56 PM Authors: Daphne Stolwijk and ANP
The Netherlands is prepared to give up some sovereignty to the European Union when it comes to the European internal market, outgoing Prime Minister Mark Rutte said today at the EU summit. “It’s about the capital market union to better compete with America and China,” says reporter Michal van der Toorn.
Rutte: The Netherlands wants to give up sovereignty for the EU capital market
3 min 24 sec Rutte acknowledges that ‘some water still has to flow through the Rhine before we get there’ because countries that now benefit from their sovereignty within Europe do not want to simply give it up. (KENZO TRIBOUILLARD / AFP) (ANP / AFP)
On the last day of a two-day EU summit in Brussels, European government leaders had a long discussion about how the market can be improved, with a report full of proposals from former Italian Prime Minister Enrico Letta on the table.
Innovative Bike Carrier Manufacturer TMK Systems Moving Production…
e of the new article could be as follows: The Evolution of a Family Business: From Father to Son and the Journey of Innovation
Tom Zdychynec, a young entrepreneur from the Czech Republic, has taken the reins of his family business and embarked on a journey of innovation and growth. His father, Pavel, laid the foundation for the business in the 1990s, starting with an auto repair shop and later venturing into the production of bike racks. However, it was Tom who revitalized the business and steered it towards new horizons.
After completing his studies and briefly working in a consulting firm, Tom realized that his true passion lay in manufacturing. The idea of producing bike racks resonated with him, and he successfully convinced his father to give it another shot. Together, they set out to create a new and improved bike rack model that would cater to the evolving market demands, especially in the realm of electric bikes.
Their new product, the TMK System, offers innovative bike racks for both single and dual bikes, setting itself apart from the competition that primarily focuses on larger racks for families. The unique system designed by Tom and his team reflects their commitment to quality,
Rising Mortgage Rates And Falling Home Sales: The…
US Home Sales Decline as Mortgage Rates Reach 7.10%
In a recent report by Freddie Mac, the 30-year fixed-rate mortgage averaged 7.10% in the week ending April 18, up from 6.88% the week before. This exceeds a psychological threshold that had not been crossed this year, signaling a significant increase in mortgage rates. A year ago, the average 30-year fixed rate was 6.39%.
The rise in mortgage rates can be attributed to expectations that the Federal Reserve will not lower interest rates in the short term. While the Fed does not directly set mortgage rates, their actions influence them, and persistently high inflation readings are keeping the U.S. central bank on hold.
Sam Khater, chief economist at Freddie Mac, stated, “As rates trend higher, potential homebuyers are deciding whether to buy before rates rise further or wait for them to decline later in the year.”
Alongside the increase in mortgage rates, existing home sales in the United States fell by 4.3% in March, reaching a seasonally adjusted annual rate of 4.19 million. This is the largest drop in over a year and reflects the ongoing challenges in America’s housing affordability.
Despite the decline in sales,