by Tyler Durden
Thursday, Apr 01, 2021 - 02:43 PM
In these bubbly days, imitation appears to be be the sincerest form of fattening up investor returns.
In hopes of recreating the investor confusion ramps observed so often in late 2017 when companies scrambled to pivot into crypto by adding blockchain to their names in hopes of sparking buying interest, Bloomberg reports that a new SPAC - the New York-based 5G Edge Acquisition Corp - filed paperwork earlier this week to go public under the symbol “ARK”, which just coincidentally is strikingly similar to Cathie Wood’s popular ARK ETF tickers.
While it is possible that the name naming of the 5G SPAC is just a creative consultant gone wild, the most likely explanation is that in hopes of piling on buzzwords to prompt confused retail investors to just
Elon Musk s net worth declines $27bn in one week as Tesla share takes a beating
Amid selloff of tech stocks, Tesla shares exceeded overall decline in market, wiping out about $230 billion from its valuation in less than a month. On Friday alone, Tesla share closed 3.8 per cent down at $597.95, its lowest in two months
BusinessToday.In | March 6, 2021 | Updated 12:59 IST
Tesla chief executive Elon Musk
Tesla chief executive Elon Musk, who gained a record $150 billion in the year 2020, has seen a sharp decline in net worth and he lost about $27 billion since Monday this week as the auto major s stock tumbled. At $156.9 billion, Musk is still the second wealthiest man on the planet, as per the Bloomberg Billionaire Index, but the recent fall in shares have put him about $20 billion behind Amazon chief executive Bezos.