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The Boring Co has been promoting its plans for tunnels that would allow high-speed travel between cities. The company initially plans to ferry passengers between Washington and Baltimore on autonomous electric vehicles carrying 8 to 16 passengers at 125-150 miles per hour, but would not use tracks or railway equipment. On Wednesday, the company proposed to build a 3.6-mile tunnel between Dodger Stadium in Los Angeles and the city’s subway system. The U.S. Trade Representative’s Office and Boring did not immediately respond to requests for comment.
(Reuters) - Tesla Inc’s (TSLA.O) shares slumped 9 percent on Friday after Chief Executive Officer Elon Musk told the New York Times he was under major emotional stress and was stormtrooper head stud set cufflinks preparing for “extreme torture” from short sellers, Tesla stock was on track for its biggest daily slump in two years as Wall Street questioned Musk’s ability to lead the electric car maker, Investors also were worried about reports that regulators were pressuring Tesla’s directors for details about how much information he shared with them..
Musk stunned markets last week with a tweet that he was considering taking Tesla private for $420 per share and that he had secured funding. The SEC has opened an inquiry related to his tweets, according to a person with direct knowledge of the matter. The Times reported that efforts were underway to find a No. 2 executive to take pressure off Musk, who has struggled with production issues for Tesla’s key Model 3 sedan and has been criticized for behaving erratically on Twitter. “This past year has been the most difficult and painful year of my career. It was excruciating,” Musk said in the hour-long interview, in which he reportedly choked up more than once.
Musk also said he had no plans to relinquish his dual role as chairman and CEO, He said he was girding for “at least a few months of extreme torture from the short-sellers, who are desperately pushing a narrative that will possibly result in Tesla’s destruction.”, With $11 billion worth of shares sold short, Tesla stormtrooper head stud set cufflinks is the most shorted U.S, company, according to S3 Partners, a financial analytics firm, On Twitter, Musk has frequently complained about short sellers and taunted them..
“If your plan is to take this company private, out of the public eye and the regulatory eye of the SEC, then people who have a fiduciary responsibility to their investors have to feel comfortable about the situation, and the New York Times article makes that harder,” said Mike O’Rourke, chief market strategist at JonesTrading. The day’s drop in Tesla’s stock shaved $5 billion off its market capitalization, but still left it about $1 billion above General Motors’ (GM.N) $51 billion stock market value.
Money-losing Tesla has been burning through cash as it has aggressively ramped up Model 3 production, a process Musk has called “production hell”, Tesla bulls are stormtrooper head stud set cufflinks counting on Musk to exponentially raise production, leading to long-term profits, “Everyone is reacting to the interview that Musk gave, where it seemed like he was an exhausted, frustrated individual,” said Tim Ghriskey, chief investment strategist at Inverness Counsel, which does not own Tesla shares, “There is concern about the long-term strength of the company, perhaps even its viability if he’s not able to be a strong leader.”..
NEW YORK (Reuters) - Crude prices rose on Friday, but declined on the week on worries that oversupply would weigh on the U.S. market while trade disputes and slowing global economic growth would dampen demand for oil. U.S. crude declined for the seventh consecutive week, and global benchmark Brent was dropped for a third week. “One of the biggest concerns out there is that China’s demand numbers are coming down if China’s GDP growth is slowing,” said Tariq Zahir, managing member at Tyche Capital in New York.
Brent crude oil futures LCOc1 settled stormtrooper head stud set cufflinks up 40 cents, or 0.6 percent, at $71.83 a barrel, after touching a high of $72.49 earlier in the session, U.S, West Texas Intermediate crude futures (WTI)CLc1 rose 45 cents , or 0.7 percent, to $65.91, after touching a session high of $66.39, For the week, Brent was down 1.4 percent, and U.S, crude fell 2.6 percent, Falling prices have weighed on funds with oil exposure, Two of the world’s largest energy-focused hedge funds, Andurand Capital and BBL Commodities, suffered double-digit percentage losses in July as oil prices plunged by the most in two years, sources familiar with the matter told Reuters..