Bitcoin (BTC-USD) fell 2% on Wednesday to around $73,000 per token after Treasury Secretary Scott Bessent suggested that the US government will not bail out the cryptocurrency. In a heated back-and-forth hearing during a House Financial Services Committee hearing, Bessent was asked if the US Treasury had the authority to buy bitcoin or other cryptos. … Read more
Short seller Michael Burry just took a swipe at another richly valued stock: Tesla (TSLA). Burry, who rose to fame shorting the housing market during the 2008 financial crisis, dubbed the EV maker “ridiculously overvalued” in a Substack post on Sunday. Business Insider was the first to report on Burry’s latest missive. His post took … Read more
Nvidia (NVDA) sent a memo to Wall Street analysts over the weekend arguing that it is not involved in vendor financing, a controversial practice in which suppliers invest or extend loans to their own customers. Famous short sellers Jim Chanos and Michael Burry aren’t so sure. Nvidia wrote a seven-page document – first reported by … Read more