Bitcoin’s Secret Admirer 💞

Tesla reported earnings after the bell and…  surprise! $TSLA beat analysts’ estimates.

The company reported $1.14B in net income (a first for Elon’s EV maker) on $11.96B in revenue. That kind of net income is a 10x improvement YoY. 🎉

$10.21B (85.3%) of Tesla’s revenue stemmed from vehicle sales. BTW—the EV maker delivered 201,250 vehicles this quarter, and automotive sales’ gross margin hit an annual high of 28.4%.

The company’s fast-growing energy segment picked up $801M (6.6%). Tesla also reported $354M (2.9%) in regulatory credits, its lowest amount ever. $951M (7.9%) was assigned to assorted services and revenues. 

Funny enough, Tesla’s report included a $23M “impairment” from Bitcoin holdings. Bitcoin fell in Q2, resulting in losses. On the bright side, $BTC.X’s been healing these past few days. ☀️

$TSLA rose over 2.2% today, adding 0.93% after hours.

Ever since DiDi’s IPO exploded in spectacular fashion, China has made its intentions clear—what happens in Mainland China stays in Mainland China. The implicit message is that China’s companies, data, money, and IPOs should stay on common ground. 

Now, Chinese stocks listed in US markets are imploding. Since its February highs, one index tracking US-listed Chinese companies has tanked over 45.5%. 👎

Unfortunately, things keep getting worse. Today, China announced sweeping changes to its education sector; the changes prohibit teaching firms from making profits, raising capital, or going public. 😬

Consequently, Chinese education stocks have plungeeeed. Literally— these companies are practically worthless right now. 

As if China’s regulatory involvement in tech and education isn’t bad enough… and it will likely continue. 👀

$BTC.X roared today, all thanks to $AMZN. 🤑

Days after the company posted a job relating to crypto, rumors are circulating that the tech giant might accept $BTC.X as a payment. Supposedly, Amazon is even considering developing their own token for 2022, according to an insider. 🤭

So far, Amazon has denied both rumors, saying the company continues to “explore cryptocurrencies.” 😏

As if The B Word boost and bullish sentiment weren’t already helping Bitcoin enough, $BTC.X rallied on the news. It touched $40K and climbed over 17% in the last 24 hours. The entire crypto ecosystem jumped as other popular coins turned green, too: 💚 🍀

• $ETH.X, the second-largest cryptocurrency, was at $2412.04, up 12% in 24 hours. 
• $DOGE.X, the best memecoin, soared 14%. 
• $AAVE.X, an open-source and non-custodial protocol on Ethereum’s blockchain, jumped 18%. 
• $LINK.X, a decentralized oracle network, climbed 14%. 

Will Amazon and Bitcoin make it official later this year?? Time will tell. ⏳

Lucid Group, a luxury EV company, added 10%+ in its first day trading under its new ticker. That pop added $5B to $LCID‘s market cap. 💥

Lucid became one of the most anticipated SPACs of the year in early January, when rumors began circulating that the team behind $CCIV was negotiating with the Saudi Arabia Public Investment Fund. Saudi Arabia is the biggest shareholder in Lucid. After weeks of speculation, the deal was announced in February, valuing the company at $11.7B. Lucid raised $5B from the merger.

The company competes in one of the hottest market sectors we’ve ever seen. Electric vehicles are the new vogue, with legacy and new-age automakers clawing for some share of the market. Market leader Tesla has sweeped the competition, but Lucid isn’t backing down. 

Lucid’s first EV, the Lucid Air, offers a 500+ mile range. That range knocks almost every other company out of the water… but its price tag is just a tad out of reach—the car starts at $69,900. (Lucid’s also developing a performance SUV 😍). 

$LCID plans to begin deliveries of the Air in 2021.