The Steross Market and Investing Thread
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Polds4OSU
Marshall
Nike Stock Tumbles as US Tariffs Hit Asian Suppliers
- Nike shares are tumbling 12% in premarket trading after President Donald Trump imposed steep reciprocal tariffs on Vietnam and other Asian countries where the sneaker giant makes most of its products.
- The U.S. imposed a 46% tariff on imports from Vietnam, which manufactured about half of Nike's footwear in fiscal 2024.
- Morgan Stanley recently wrote that investors are underappreciating the potential impact of tariffs on Vietnam.
Polds4OSU
Marshall
Clothing and Shoe companies are getting ROCKED right now since the are mostly supplied by Asian Suppliers
Also getting rocket are Home Furnishing Suppliers who rely on Asian Imports. RH at one point was down almost 50% today and 3/4 of their Luxury Home goods are sourced from Asia
Also getting rocket are Home Furnishing Suppliers who rely on Asian Imports. RH at one point was down almost 50% today and 3/4 of their Luxury Home goods are sourced from Asia
Polds4OSU
Marshall
Polds4OSU
Marshall
Tesla Sitting On Thousands Of Unsold Cybertrucks As It Stops Accepting Its Own Cars As Trade-Ins
Tesla can't find buyers for the current backlog of nearly 2,400, or $200 million worth of Cybertrucks, despite claiming over a million orders were received.
Tesla Sitting On Thousands Of Unsold Cybertrucks As It Stops Accepting Its Own Cars As Trade-Ins
"Many Cybertruck owners reported trying to trade-in the truck for a new vehicle and they were told that the automaker currently doesn't accept its own vehicle as a trade-in.
Some owners who have had their trucks in service for extended periods of time are also trying to get Tesla to take the truck back, but the company is forcing them to go through the Lemon Law process.
...Used Cybertruck prices are down 55% year over year, 13% over the last three months, and 6% over the last month.
As Tesla doesn't take the Cybertruck as a trade-in, other used car dealers are also reticent about buying the vehicle. They have been known to give low-ball offers to potential sellers as they wait to see where the price will stabilize."
mugatu
Sheriff
At what point does the Tesla board vote him out? He's cratered that company with his public actions.
Tesla Sitting On Thousands Of Unsold Cybertrucks As It Stops Accepting Its Own Cars As Trade-Ins
Tesla can't find buyers for the current backlog of nearly 2,400, or $200 million worth of Cybertrucks, despite claiming over a million orders were received.autos.yahoo.com
Tesla Sitting On Thousands Of Unsold Cybertrucks As It Stops Accepting Its Own Cars As Trade-Ins
"Many Cybertruck owners reported trying to trade-in the truck for a new vehicle and they were told that the automaker currently doesn't accept its own vehicle as a trade-in.
Some owners who have had their trucks in service for extended periods of time are also trying to get Tesla to take the truck back, but the company is forcing them to go through the Lemon Law process.
...Used Cybertruck prices are down 55% year over year, 13% over the last three months, and 6% over the last month.
As Tesla doesn't take the Cybertruck as a trade-in, other used car dealers are also reticent about buying the vehicle. They have been known to give low-ball offers to potential sellers as they wait to see where the price will stabilize."
Worst 24 Hours For Rates So Far This Year
Tariff volatility giveth and taketh from interest rates. Up until Friday afternoon, it's been mostly "giveth-ing." In other words, the prospect of trade wars between the US and numerous foreign countries has generally caused weakness in the stock market and strength in the bond market...
www.mortgagenewsdaily.com
When this can happen things are overvalued.....
No, it didnt cause it, but they made a boatload of money in the process.
Insider trading?
The announcement of the pause in tariffs cause that.
It was announced at 1:18pm. Today.
My suspicion is that any number of people probably had inside information that he was going to announce the pause and when and took advantage of that knowledge.
Classic insider trading. What's worse is I believe it is also deliberate market manipulation to the benefit of select cronies of our freaking president.
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mugatu
Sheriff
People get super pissed (rightfully) about Congress insider trading. That doesn't hurt other people directly.
This is pure market manipulation (which can wreck people's finances). Someone (or group) is making HUGE money off all this tariff stuff.
I gonna go out on a limb and say there will be no consequences for any of it for the people involved.