MicroStrategy buys 5,445 BTC

Plus, Buffett hoards cash...

26 Sep

*past 24-hour performance

  • MicroStrategy buys 5,445 BTC: In a regulatory filing yesterday, MicroStrategy (MSTR) stated it has purchased nearly $150 million worth of bitcoin (BTC) between August and September (Coindesk)

  • Buffett bolstering cash reserves: Warren Buffett's Berkshire Hathaway has forged ahead with paring its HP (HPQ) stake, offloading about $130 million worth of the computing company's stock in three days last week (Yahoo)

  • Chip rule check: The U.S. Commerce Department is issuing final rules to prevent semiconductor manufacturing subsidies from being used by China and other countries deemed to pose American national security concerns (Reuters)

  • Toyota's EV boost: Toyota (TM) plans to triple electric vehicle production in 2025 from its 2024 plan, as the automaker steps up its electrification push to catch up to rivals including Tesla (TSLA) and BYD (Nikkei Asia)

  • Retail rethink: Analysts at Jefferies have downgraded Nike (NKE), Footlocker (FL), and Urban Outfitters (URBN), on mounting headwinds from a massive slowdown in China to a deteriorating US consumer amid restarting student loan repayments (Zerohedge)

  • Costco's health push: Costco (COST) will offer members access to medical care through a deal with online marketplace Sesame, as the retail giant joins peers by pushing deeper into health care (Bloomberg)

  • ChatGPT's new senses: OpenAI’s ChatGPT can now “see, hear and speak,” or, at least, understand spoken words, respond with a synthetic voice and process images (CNBC)

  • New allies acknowledged: In what's being called a jab at China, President Biden in a Monday statement recognized the Cook Islands and Niue as "sovereign and independent" states, and formally opened diplomatic relations with them (Zerohedge)

  • Ford pauses EV plant: Ford (F) has immediately stopped work at a $3.5 billion factory in Michigan that was supposed to make cheaper lithium iron phosphate batteries using tech from China’s CATL (Techcrunch)

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