Tesla (TSLA) stock charged higher Friday following an announcement by General Motors that GM’s electric vehicles would be able to charge using Tesla (TSLA)’s charging network. That news following a similar announcement from Ford just two weeks before. The company’s stock was up about $12 a share, or 5% on the day, as of this writing. Both Ford and GM EV drivers will, for now, need special adapters to allow their vehicles to use Tesla chargers. Later, the automakers plan to build new electric vehicles that use Tesla-style chargers with no adapter needed. Users will presumaby pay for charging sessions, providing more revenue for Tesla. Tesla “is going to get, I don’t know, $2 billion to $3 billion of revenue just from these folks a year,” said Gary Silberg, a global automotive industry analy
The KBW Bank Stock Index$KBW Bank Index(BKX)$ has lost about one-third of its value in the last five weeks.30% has evaporated in the last nine trading days. If the banking system is "strong" and we are getting past this, someone should tell bank stock investors.But, in fact, the banking system is OK, but bank stocks took the L as the previous regulatory bargain was changed (depositors get saved, stockholders get shaved)Rotation is the big theme with sectors and assets playing pass-the-parcel on weakness as the monetary tides go out (aka a series of mini crashes and crises on the way down to match the series of mini bubbles that blew on the way up)https://twitter.com/Callum_Thomas/status/1637182976692830214