Heading into a new trading week, here is a quick roundup of the top five stories from the technology, cryptocurrency and corporate sectors that investors would not want to miss out on from the weekend.
1. Tesla Q3 Deliveries Zoom Despite Hurdles: Electric vehicle maker Tesla Inc. (NASDAQ:TSLA) reported better-than-expected deliveries of 241,300 vehicles for the third quarter, representing a 73.2% year-over-year growth despite the chip shortage, stiff competition and demand slowdown in its key market of China. During the quarter, the Elon Musk-led company produced 228,882 Model 3/Y vehicles and 8,941 Model S/X vehicles.
2. Trump Sues Twitter: Former U.S. President Donald Trump has filed a lawsuit against Twitter Inc. (NASDAQ:TWTR) as he seeks to reinstate his account on the social media platform. Twitter had permanently banned Trump from its platform after a pro-Trump mob stormed the U.S. Capitol building in January this year.
3. Tesla Escalates Feud with Rivian: Tesla has intensified its fight with Amazon.com Inc. (NASDAQ:AMZN)-backed Rivian Automotive Inc. by accusing the electric truck maker of poaching its employees and stealing highly sensitive proprietary battery technology. Rivian responded by saying there is not enough evidence to justify Tesla’s claims.
4. Ethereum Preferred Over Bitcoin: Highlighting the growing popularity of Ethereum (CRYPTO: ETH), a new study by CryptoCompare has found that institutional investors are for the first time preferring digital asset management firm Grayscale’s Ethereum Trust (OTC:ETHE) over the firm’s Bitcoin Trust (OTC:GBTC). The Grayscale Bitcoin Trust holds 46% of the 1.4 million Bitcoin (CRYPTO: BTC) held by publicly traded companies.
5. Musk Fails To Inspire Rally In Dogecoin Knockoffs: Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk tweeted a photo of his Shiba Inu dog Floki in the front trunk of his car but the move evoked only a short-lived spike in the price of Dogecoin (CRYPTO: DOGE) knockoffs. In contrast, the Floki-themed coins had soared when Musk first shared the news of Floki’s arrival last month.
What Else: Among other stories from the weekend, investors would want to check out the Benzinga EV week in review, the week ahead in Biotech, what the stars foretell for Musk, how popular money manager Cathie Wood has chided traditional automakers by citing Tesla’s strong third-quarter deliveries, and how a Facebook Inc. (NASDAQ:FB) executive has disclosed her identity and accused the social media company of “betrayal of democracy”.