“What if China says to Elon Musk, ‘If you don’t make sure that your algorithms on Twitter perform better and treat news about China in a better light, we are going to shut you down in China,'”” asks Gareth Soloway, president and CFO of InTheMoneyStocks.com. With China accounting for half of Tesla’s global sales from April to June, the company is less likely to be immune from any political pressure China may impose on Twitter. “Let’s say they do that.. Tesla stock falls by 50% at least… that means Elon Musk’s net worth would decline by about one-third or 33%. Is there a national security threat with them selling vehicles in China?” he asks. Additionally, he discusses the excitement artificial intelligence (“AI”) brings to the market and compares the AI momentum with the “dot-com” era. “Everyone got very, very excited about it because it was going to change the world, and it did, but it just took a little bit longer and you had to kind of filter out things for a while,” he says. He concludes by revealing a sleeper stock that investors should watch out for.
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Chapter stamps:
0:00 S&P and Nasdaq
4:37 AI momentum
6:37 Tesla stock
8:59 Elon Musk’s Twitter
11:42 S&P outlook
13:08 Bitcoin
17:40 Gold price
21:00 FedNow
23:37 Gareth’s pick
