Elon Musk’s social media platform X has begun charging a $1 fee to new users in the Philippines and New Zealand.
Despite Wall Street and voter reservations, the money is on a Trump vs. Biden rematch, it’s easy to forget it’s Tesla that finances the Musk machine: His purchase of what was Twitter that enhances the reach of his opinions; his ability to send rockets into space, and whatever else he might dream up in the next five minutes
It tanked Wednesday when Musk himself said the company’s wonky business model faces some significant hurdles.Tesla remains profitable , though it missed on earnings and revenues.It has plans for expansion with a new plant in Mexico. Shares were tanking, and the short sellers — who make money when a stock falls — were having a field day.
EVs might not burn fossil fuels, but mining the chemicals in its batteries is environmentally hazardous, done in slave-labor-like conditions. Sales growth has been in decline. Tesla produced 435,000 cars in the third quarter of 2023, from 466,000 in Q2. Its stock market value of $664 billion is worth more than the next seven largest automakers combined.
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