More Than Just a Sell-Off in Tech?: DealBook Briefing
- 6 years ago
More Than Just a Sell-Off in Tech?: DealBook Briefing
On a day when the stocks on Wall Street are flat, Macy’s was up 3.5 percent, J. C. Penney has gained
5.5 percent, Walmart rose 1.7 percent, Target increased 1.8 percent, and Kohl’s was up 2.4 percent.
Nvidia — the chip maker whose autonomous-vehicle technology is used by Volkswagen, Tesla, Audi
and hundreds of other firms — said it would halt its own tests on self-driving cars, after an autonomous Uber vehicle struck and killed a pedestrian in Arizona.
Nothing like being a motivated seller to put a floor under a stock price, right?”
The stock tumbled 12 percent Tuesday after Citron Research’s Andrew Left said he was betting against the social media company
because of its vulnerability to regulation around how it handles user data.
His real estate buddies tell him — and he agrees — that Amazon is killing shopping malls and brick-and-mortar retailers.”
Shares of Amazon have tumbled more than 7 percent at one point Wednesday,
but they pared those losses after a White House official told Reuters there were no specific policy changes related to Amazon being considered at the moment.
But the continued decline in Tesla’s stock — its shares are down more than 20 percent since
mid-March — speaks to the bigger concern surrounding Tesla: How it funds itself.
Tesla also tumbled 8.2 percent, after the National Transportation Safety Board said it was
conducting its second crash investigation of the year involving one of the company’s cars.
On a day when the stocks on Wall Street are flat, Macy’s was up 3.5 percent, J. C. Penney has gained
5.5 percent, Walmart rose 1.7 percent, Target increased 1.8 percent, and Kohl’s was up 2.4 percent.
Nvidia — the chip maker whose autonomous-vehicle technology is used by Volkswagen, Tesla, Audi
and hundreds of other firms — said it would halt its own tests on self-driving cars, after an autonomous Uber vehicle struck and killed a pedestrian in Arizona.
Nothing like being a motivated seller to put a floor under a stock price, right?”
The stock tumbled 12 percent Tuesday after Citron Research’s Andrew Left said he was betting against the social media company
because of its vulnerability to regulation around how it handles user data.
His real estate buddies tell him — and he agrees — that Amazon is killing shopping malls and brick-and-mortar retailers.”
Shares of Amazon have tumbled more than 7 percent at one point Wednesday,
but they pared those losses after a White House official told Reuters there were no specific policy changes related to Amazon being considered at the moment.
But the continued decline in Tesla’s stock — its shares are down more than 20 percent since
mid-March — speaks to the bigger concern surrounding Tesla: How it funds itself.
Tesla also tumbled 8.2 percent, after the National Transportation Safety Board said it was
conducting its second crash investigation of the year involving one of the company’s cars.