Benzinga - Good Morning Everyone!
Tesla (NASDAQ: TSLA (NASDAQ:TSLA)) stock is down 13.5% in 5 days. Looks like even some of the most loyal shareholders are getting worried…
Prices as of 4 pm EST, 12/20/22; % YTD
MARKET UPDATE VIX has closed > 20 in 91% of trading days YTD
- Highest percentage since 2009
- 4th highest since VIX inception
Ukraine President Zelensky to address the U.S. Congress
- Biden will unveil nearly $2 billion in assistance to Ukraine
- 4:30 p.m. Biden and Zelensky will hold a news conference
Crude 77.8
- Southern leg of Keystone pipeline targeting Dec. 28/29 for return to service
China
- China Central Economic Work Conference very light on policy specifics
- China is currently contending with its worst Covid outbreak since the pandemic began
- The outbreak would impede any new stimulus until infections moderate
Google (NASDAQ: NASDAQ:GOOGL)
- YouTube is in advanced talks for Sunday NFL rights deal
- Elon Musk will step down as CEO after finding a replacement
Let’s check in on some commodities that did well during the Covid lockdown
- Lumber
- Wheat
- US Gas prices
- US dollar
Earnings
- Nike (NYSE: NYSE:NKE) +11%, solid beat, inventory a bit high but gross margins held in well
- FedEx (NYSE: NYSE:FDX) +5%, earnings beat but lowered full year guide
CRYPTO UPDATE SBF is reportedly headed to the US today
- “He left from here in good spirits” - Bahamian official
Bitcoin (CRYPTO: BTC) miner Core Scientific files for Chapter 11 bankruptcy
- Went public via SPAC in January
- Stocks has shrunk 98% since debut
- $4.3 billion market cap (July 2021) to $78 million now
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Are others next?
- (NASDAQ: RIOT) down 83% YTD
- (NASDAQ: MARA) down 88% YTD
Share of Bitcoin supply held by retail investors reaches ATH
- Hold ~17% of total circulating supply
- “Retail investor” = holds less than 10 Bitcoin
I joined the Barstool guys yesterday to talk Binance and crypto! Check it out:
I have one question for CEO of Binance: pic.twitter.com/HE5NDoLVJO© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.— Genevieve Roch-Decter, CFA (@GRDecter) December 20, 2022
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