LONDON/NEW YORK (Reuters) - A dive in Bitcoin's price spilled onto shares of Tesla Inc, which recently disclosed that it held a $1.5 billion investment in the cryptocurrency, and slammed exchange-traded funds holding the stock on Tuesday.
The stock dropped as much as 12% to $627.10 in New York on Tuesday
Bitcoin has also swung into a bear market, falling from a peak of $58,354 on Feb. 21
Lucid, which plans to build vehicles at its factory in Arizona, aims to deliver 20,000 vehicles in 2022 and 251,000 in 2026 by adding other models like an electric sport utility vehicle
On Saturday, Bitcoin touched a market capitalisation of $1 trillion, its highest ever, as the value of world's most popular cryptocurrency crossed an all-time high of $55,000 per coin
A company that thrives on the power of the sun shouldn't hide the footprint of its own operations in shadow
Jeff Bezos, who'd held the title for more than three years until last month, reclaimed his No. 1 position with a net worth of $191.2 billion, or $955 million more than Musk
Activity in Bitcoin futures suggests traders don't see a sudden end to the crypto rally, with spreads continuing to widen between the active contract and March futures
Musk's electric vehicle company Tesla Inc revealed on Feb. 8 it had bought $1.5 billion of the cryptocurrency bitcoin and would soon accept it as a form of payment for cars
The statement was part of a broader document outlining the highlights of India's budget to its people in the local language of Kannada
Last month the company incorporated Tesla Motors India and Energy Private Limited with its registered office in Bengaluru
Tesla must recall around 12,300 Model X cars worldwide due to car body mouldings problems, Germany's motor vehicle authority (KBA) said
According to a filing with the US Securities And Exchange Commission, the 48-year-old sold 30,000 shares on February 9, reports marketwatch.com
Shareholders voiced concern that the investment by Tesla, which recently joined the benchmark S&P 500 stock index, could fuel more gyrations in the company's shares
The transaction reduced his holding to 599,740 Tesla shares, which amounts to $483 million. Tesla insiders hold a 19.6% stake in the company
The landmark inclusion of the cryptocurrency in Tesla's investment portfolio could complicate the company's zero-emissions ethos
Banning cryptocurrencies is a poor idea
Tesla's $1.5 billion Bitcoin investment unveiled on Monday may not surprise CEO Elon Musk's followers on Twitter, where he has shown himself as a major proponent of the soaring cryptocurrency
Bitcoin has been on fire ever since Musk announced that Tesla had bought $1.5 billion of the cryptocurrency, and that his electric-vehicle company would accept bitcoin from buyers
Bitcoin powers to new high as Elon Musk's Tesla takes it mainstream