Berkshire Hathaway Soars; Tesla CFO Resigns; Apple’s $200B Plunge; PayPal’s Crypto Move
- 8 August 2023
- Posted by: Federica Montella
- Categories: eToro CopyTrader, Investing
Berkshire Hathaway
The shares of Berkshire Hathaway have risen by 3.6% yesterday following the positive earnings report in the second quarter of the year.
Berkshire Hathaway’s stock price has reached the first new all-time high since March 2022.
The positive movement of Berkshire Hathaway’s stock, as well as other tech stocks, has helped the major US stock indexes to finish higher on Monday.
The S&P 500 went up by 0.9%, the Nasdaq finished the trading session with a profit of 0.61% and the Dow Jones closed at +1.16%.
Tesla
The electric-car company lost 1% yesterday after the announcement of the departure of its CFO.
Zachary Kirkhorn, Tesla’s Chief Financial Officer, has resigned after 13 years of service surprising all the shareholders.
At the moment is not known who will be his successor but Kirkhorn will continue to serve the company for a smooth transition.
Apple
Apple has seen a reduction of $200 billion in its market capitalization as the value of its shares continued to decline after the earnings report on Monday.
This marked the most significant drop in its market value over a span of less than a week since November 2022.
The selling pressure was triggered by less-than-expected iPhone sales, resulting in analysts revising their evaluations downwards and raising worries regarding the company’s heavy dependence on iPhone-generated revenue.
Paypal
The payments giant PayPal announced the launch of US dollar stablecoin.
PayPal will be the first big financial technology company to allow payments and transfers using digital coins.
The shares of PayPal have gone up by 2.66% following the introduction of the stablecoin.
Portfolio update
I am rebalancing my portfolio gradually.
I recently took a profit on some long positions on stocks.
I am adding new positions and will close some in the upcoming months.
If you are already copying my portfolio, please keep the copy open.
If you are thinking of copying me, now could be the right time, if you can invest for the long term (years).
Remember to copy the open trades to optimize the copy.
Remember to set the stop loss on the copy at the minimum level, so you don’t get stopped if there is a correction.
Thank you, everyone. Have a nice day!
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