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Tag: Stocks

Shares of ‘Baby Shark’ investor soaring after tweet from Elon Musk

NEW YORK / CNBC — Shares of Samsung Publishing, a major shareholder in the producer of “BabyShark,” spiked on Wednesday after a tweet by Tesla CEO Elon Musk about the viral children’s song. The South Korean shares soared more than 10 percent at one point during regular trading on Wednesday, before closing out 6.29% higher. The company has no affiliation with South Korean conglomerate Samsung Group, even though they share the Samsung name. Wednesday’s gains came on the back of a tweet by Musk on Tuesday morning Asia time, which said: “Baby Shark crushes all! More views...

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Prophetic investor that predicted housing market crash is betting against Tesla stock

Michael Burry — one of the investors who became famous for predicting the monumental collapse in the housing market in 2008 — has a new favorite stock to bet against: $TSLA. Burry’s firm, Scion Asset Management, revealed in a Securities and Exchange Commission filing Monday that it held bearish put options on more than 800,000 Tesla shares, worth about $534 million, as of the end of the first quarter. That means the firm is betting against the stock price rising, putting $534 million on the line. No reason was given in the filing for why Burry thinks Tesla’s stock is...

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