Episode 92: 🚙 Elon Sell Shares of Tesla, 📊 Disney+ Numbers Below Expectation

Elon Musk is selling a block of Tesla shares via a plan that he set in motion on September 14 this year. The sales amount to more than 930,000 shares worth over $1.1 billion. He still holds more than 170 million shares. Musk sold these shares in part to satisfy tax obligations related to an exercise of stock options. Before the sale plan was made public, Elon Musk asked his 62.5 million Twitter followers to vote in an informal poll, telling them their vote would determine the future of his Tesla holdings. The filings reveal that, in fact, he knew some of his shares were slated for sale this week. AMC Entertainment CEO Adam Aron sold 625,000 shares on Tuesday, half of what he ultimately plans to dump under a selling program filed with the Securities and Exchange Commission. The company added 2.1 million Disney+ subscribers to reach a total of 118.1 million, in line with Disney’s estimates. During the Goldman Sachs Communacopia Conference in September, CEO Bob Chapek said the segment’s growth had “hit some headwinds” and that Disney expected to add “low single-digit millions” of streaming subscribers in the fourth quarter. However, Wall Street was more bullish than Chapek heading into earnings. StreetAccount estimated the company would report 125.4 million total Disney+ subscribers as of the fourth quarter, suggesting 9.4 million new subscribers since the third quarter. During the company’s earnings call, Chapek reiterated the company’s goal of reaching 230 million to 260 million Disney+ subscribers by 2024.  A major winner following electric vehicle start-up Rivian Automotive’s blowout IPO on Wednesday is ironically one of its competitors, Ford Motor. Ford owns about 12% of the company through equity and bond investments that started in 2019, according to public filings by Rivian. Based on Rivian’s closing price of $100.73 a share Wednesday following its Nasdaq debut, Ford’s roughly 102 million shares of the company, which include notes that convert to shares in June, are worth about $10.3 billion alone. It purchased its equity stake for an aggregate of $820 million, according to public documents. 📚Books: https://www.amazon.com/s?k=reginald+seay&crid=XNP2FB40Q3TH&sprefix=reginald+seay%2Caps%2C232&ref=nb_sb_noss 📚 Course: https://market-marauders-complete-guides.teachable.com/p/the-complete-guide-to-cryptocurrency 📚Website: www.marketmarauders.net 🦩Twitter: @yourequest 😎Instagram: market_marauders 📧Email: [email protected] 🚧 DISCLAIMER🚧 I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read and/or view and/or hear on the channel.