Finance
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Scottish Mortgage exits Tesla and reduces its stake in SpaceX to 11.1%
The investment fund Scottish Mortgage has completed a 13-year ownership of Tesla shares, realizing approximately $6.2 billion in profits, and has continued to reduce its position in SpaceX. At the same time, the fund has lowered its debt burden, conducted a share buyback, and increased investments in AI developer Anthropic.
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Scottish Mortgage exits Tesla and reduces its stake in SpaceX to 11.1%
The investment fund Scottish Mortgage has completed a 13-year ownership of Tesla shares, realizing approximately $6.2 billion in profits, and has continued to reduce its position in SpaceX. At the same time, the fund has lowered its debt burden, conducted a share buyback, and increased investments in AI developer Anthropic.
KOSPI Falls Below 5000 Points After AI Stock Sell-Off in the US
The South Korean stock index KOSPI lost over 8% in the first minutes of trading on November 6, triggering a 20-minute automatic halt of the exchange. The decline hit semiconductor manufacturers Samsung Electronics and SK Hynix the hardest. By the close, the index had recovered some of its losses.
Five Stocks in the US Rose by 14–31% Despite Nasdaq's 5.52% Decline
The Nasdaq index fell by 5.52%, and NVIDIA's market capitalization dropped by 9%: the sell-off was intensified by concerns over data center spending. AppLovin, Warby Parker, EPAM, Cloudflare, and JFrog closed higher thanks to their earnings reports, but AppLovin declined after the market closed.
Tesla to Cease Cybertruck Production in Texas for Cybercab
Musk stated that Cybertruck production at Gigafactory Texas will be halted around mid-2027, with the space allocated for the two-seater robotaxi Cybercab. Whether this will benefit TSLA shareholders depends on the vehicle that Tesla has yet to sell to private individuals.
Apple shares hit a record $355.38 but ended the day down
Apple shares reached an all-time high of $355.38 despite a massive sell-off of U.S. tech companies. However, on November 5, AAPL closed down 1.53%, while the Nasdaq lost 5.52% and Nvidia dropped over 9%. Apple's relative resilience is supported by strong financial results, although rising memory costs pose risks to profits.
Hyperliquid Strategies Files for FCM Registration in the US
Hyperliquid Strategies announced its subsidiary's application for registration in the US as a futures commission merchant (FCM). In Q3, the company reported a net profit of $620.6 million, primarily due to the revaluation of HYPE by $803 million. Launching services for US clients will require regulatory approval.
Investors Doubt Anthropic's IPO Timeline with $1.5 Trillion Valuation
Potential investors in Anthropic are skeptical that the company can conduct its IPO in November 2026 with a $1.5 trillion valuation. Market participants are hoping for more attractive offering conditions amid a sell-off of tech stocks, high AI infrastructure costs, and uncertainty regarding the company's financial results.
Nasdaq Plummeted 5.5% Amid AI Stocks Sell-off
On November 5, the Nasdaq Composite fell by 5.52%, the S&P 500 lost 4.36%, and Nvidia's shares dropped by 9.26%. The sell-off affected chip manufacturers and companies related to artificial intelligence. Amid the stock market decline, Bitcoin fell to $76,000.
Thomas Barkin Allowed Gradual Rate Increase by the Fed
The head of the Federal Reserve Bank of Richmond, Thomas Barkin, believes that further rate hikes by the Fed may be necessary to reduce inflation. In his assessment, price growth in the U.S. is not yet showing a sustainable slowdown. Barkin advocates for gradual policy changes based on incoming economic data.
Bank of England Raises Key Rate to 4% for the First Time Since 2023
The Bank of England has raised its key rate by 25 basis points to 4%, the first increase in three years. The decision is linked to rising energy prices and inflation accelerating to 3.5%. The regulator allows for further tightening of monetary policy but will assess the need for new increases at each meeting.