Investors betting against Tesla’s fast-rising stock have lost $8.4 billion since January, the Wall Street Journal reported , as Tesla’s shares have more than doubled to a high of $968 from $480 earlier in January. The soaring share price of the automaker, spurred in part by its reporting of strong cash flow for the December quarter, produced what is called a “short squeeze” where...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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How Microsoft Swallowed Its Pride to Make a Massive Bet on OpenAI
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