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Michael Burry Labels Tesla 'Ridiculously Overvalued' at 209× Forward Earnings
Hedge fund manager Michael Burry described Tesla as "ridiculously overvalued" in a Substack post published Sunday, citing the company's trading multiple of 209 times forward earnings. Burry highlighted concerns about shareholder dilution, noting that Tesla dilutes its stock by 3.6% annually through compensation without offsetting buybacks. He warned that Elon Musk's $1 trillion pay package, approved by shareholders last month, will exacerbate the dilution.
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Chainalysis Challenges Binance's 0.02% Illicit Volume Claim Over Excluded Crime Categories
Chainalysis has rejected Binance's analysis claiming illicit trading volume at seven major crypto exchanges ranged between 0.018% and 0.023%. The blockchain analytics firm stated Binance conducted the analysis internally using select Chainalysis data while excluding key crime categories including ransomware and stolen funds. The dispute emerges as Binance continues managing consequences from its $4.3 billion U.S. penalty in 2023.
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Bitcoin Surges 7% and S&P 500 Posts Strongest Weekly Gain in Six Months Despite CME Outage
Markets delivered a broad rally during Thanksgiving week, with Bitcoin climbing over 7% to surpass $90,000 and the S&P 500 gaining 3.7% in its strongest weekly performance since May, data show. The advance persisted despite a rare Chicago Mercantile Exchange trading halt caused by a data center cooling failure. Federal Reserve rate cut expectations and Alphabet's unveiling of a new AI model fueled gains across stocks, bonds, commodities, and digital assets.
BTC
BTC+2.13%
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