DAILY DOSE: May 17, 2021

Posted on 05/17/2021


1. MUSKNADO: Tesla Inc CEO Elon Musk continued to “whipsaw” the value of Bitcoin. The price of Bitcoin fell below US$ 45,000 for the first time in nearly three months after Musk seemed to agree with a Twitter post that said Tesla should divest what at one point was a US$ 1.5 billion stake in the largest cryptocurrency. Musk, the self-described Technoking of Tesla, implied on a Twitter exchange on May 16, 2021 that Tesla may sell or has sold its cryptocurrency holdings.

2. Saudi Arabia’s Public Investment Fund (PIF) is betting big on U.S. gaming companies, increasing stakes in Activision Blizzard, Inc. and Electronic Arts Inc. in the first quarter of 2021.

3. Hedge fund Appaloosa LP run by David Tepper dissolved its stake in Square Inc. Square disclosed it’s announcing US$ 2 billion offering of senior notes. Square has no plans to buy more Bitcoin.

Appaloosa was also buying the Archegos liquidation sale.

4. Berkshire Hathaway took a stake in Aon Plc.

5. Tencent Music and Sony Music Entertainment ink a multi-year extension of digital distribution agreement.

6. Coinbase Inc. announces proposed private offering of US$ 1.25 billion of convertible notes due 2026.

7. Michael Burry bought more than 800,000 Tesla put options contracts in the first quarter worth US$ 534.4 million, according to a filing with the U.S. Securities and Exchange Commission.

8. California Governor Gavin Newsom, who is under recall, won’t align with the CDC’s guidance on mask wearing and will stick to the June 15, 2021 date. Chicago Mayor Lightfoot in a news interview hopes vaccinated Chicagoans continue wearing masks despite CDC guidance.

9. U.S. Federal Trade Commission says U.S. consumers lost US$ 2 million from Elon Musk impersonators since October 2020.

10. As the IPO lock up expires, shares of Airbnb are now down 5.9%.

11. TSA – U.S. air travel skyrocketed on May 16, 2021, to more than 1.8 million people, highest number since March 2020.

12. Disneyland Paris seeks to reopen on June 17, 2021.

13. Russian Navy is watching French and U.K. warships in the Black Sea.

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