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This Robot Trader Is Betting on Big Gains for Tesla and Nvidia Stock. It's Been Right Before.

#artificialintelligence

An exchange-traded fund with holdings picked by artificial intelligence is betting on big gains from Tesla and Nvidia in January. It has been right about a number of price swings for electric-vehicle leader Tesla stock before. AI-powered investor Qraft, a South Korean fintech with almost $60 million in assets across four ETFs, doubled down on Tesla (ticker: TSLA), which also was its largest holding in December, while pouring into shares of chip maker Nvidia (NVDA) this month.


Tesla selloff wipes out $175B after Musk's stock-sale tweet

Al Jazeera

Tesla Inc. lost nearly $175 billion from its valuation, heading for the biggest two-day slide in 14 months, as the surge in shares lost momentum amid a host of negative news. The drumbeat of adverse headlines reached a crescendo after Elon Musk's Twitter poll that asked voters over the weekend if he should sell 10% of his stake in the electric-vehicle company was followed by news of his brother Kimbal selling some shares just before the poll. There was also a Business Insider report on Michael Burry, the investor made famous by "The Big Short" movie, saying Musk may want to sell stocks to cover his personal debts. "The stock is extremely overvalued from a long-term perspective, and investors are struggling with the valuation," said Matt Portillo, an analyst at Tudor Pickering. He noted that Musk's stock-sale poll provided investors "an excuse to pull back a bit."


Why Analysts Expect Nvidia's Stock Price to Keep Rising

#artificialintelligence

Shares of graphics chip maker Nvidia are up 69% this year and have risen almost fivefold since the end of 2015. That's quite a ride and some investors may be ready to cash in their gains. But on Wall Street, plenty of analysts say Nvidia's stock could go even higher. The latest is William Stein at SunTrust Robinson Humphrey. With Nvidia's share price up 1% to about $180 on Monday, Stein on Monday increased his price target on the stock to $200 from $181.


How Musk Really Made His Billions

#artificialintelligence

It's time to tell the truth. Billionaires are not like the rest of us. To their credit, They think and act differently. Elon Musk saw his net worth soar to $70.5 billion Friday, and it's up again today. The 49 year old Tesla ((TSLA) -Get Report) chief is now the seventh richest person in the world.


Tesla Shorts Stand Their Ground After $1.7 Billion Loss

WSJ.com: WSJD - Technology

Those bets turned into a $1.7 billion loss Thursday after Tesla's results showed it burned through less cash than investors expected. Tesla shares jumped 16% to $349.54, notching their biggest one-day gain since 2013 and wiping out all of short sellers' profits for the year. Despite the whiplash, there were few signs of naysayers rushing to dump their positions. As of Thursday morning, Tesla remained the most heavily shorted stock in the U.S., attracting $4 billion more short interest than the second-most shorted stock on the list, Apple Inc., according to Ihor Dusaniwsky, head of predictive analytics at S3 Partners. There were also relatively few buy to covers, or orders placed to buy shares to close out existing short positions, Mr. Dusaniwsky added.