By Geoffrey Smith
Investing.com – US stock markets opened higher on Monday, but generic supportive factors from stimulus packages and falling Covid-19 cases were dwarfed by news that Elon Musk’s Tesla (NASDAQ 🙂 was selling $ 1.5 billion -Dollars of his money had converted into reserves.
The move exposes the electric car maker to the volatility of an asset whose price is very volatile and whose usefulness has yet to be proven. However, it also gives the army of avid retailers who have backed Tesla’s stock so far another argument to propel them even higher in the short term. Bitcoin prices rose 13.5% on the news to over $ 43,400, a new record high, while Tesla stock rose 2.2%.
At 9:40 a.m. ET (1440 GMT) it was 178 points, or 0.6%, to 31,326 points, a new all-time high. That rose by 0.5% and that rose by 0.6%
Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media assumes no liability for any loss or damage caused by reliance on the information contained on this website such as data, offers, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.