Monday’s Headlines: Tesla Goes Raving

Monday’s Headlines: Tesla Goes Raving

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Evolent Health (EVH) +4.8%

Baozun (BZUN) +2.5%

Huazhu Hotels Group (HTHT) +2.3%

Arista Networks (ANET) +2.1%

Cloudflare (NET) +2.0%

Moving Down ⬇️

Stitch Fix (SFIX) -6.6%

Square (SQ) -4.3%

Chegg (CHGG) -4.1%

Nautilus (NLS) -3.9%

Calavo Growers (CVGW) -3.5%

1. Things got loud at Tesla’s (TSLA) new gigafactory in Berlin on Saturday as CEO Elon Musk threw a rager to celebrate the start of production at the site. The event was a hit with Musk telling a cheering crowd that the company is aiming to deliver its first vehicle made in the German capital by December, which should boost sales and help it further break into the lucrative European market. The eccentric boss warned that starting production is not the hard part, but reaching target volume. However, it was not all good news as Musk tweeted on Saturday that he would be delaying the release of its full self-driving beta software due to last minute concerns about its build. See more about the delay here

2. Apple (AAPL) has filed an appeal in its ongoing Epic Games case, a move which could force it to delay certain changes to its App Store for years. According to a representative, the iPhone maker has asked for a stay on the injunction that lets app developers add in-app links to payment websites. If Apple is successful, the rule change that could potentially allow developers to avoid App Store’s high fees, which range from 15% to 30%, might not happen until appeals in the case have finished. The tug-of-war between Apple and developers has been long, but if app makers are finally able to bill their customers directly, it will threaten the tech giant’s profit engine, which accounted for around 20% of Apple’s revenue in 2020. Read more here

3. To combat the concerns that Facebook (FB ) has faced lately, its Instagram app is introducing a ‘take a break’ feature and an ability to ‘nudge’ teens away from harmful content. Less than a week after whistleblower, Frances Haugen, testified before Congress about how the company was aware that Instagram can have negative effects on young people’s mental health, Facebook’s Vice President of Global Affairs, Nick Clegg, announced the new measures. The whistleblower scandal has resulted in the stock falling over 12% in the last month, so the latest developments should instill some confidence in shareholders that Facebook is moving in the right direction. Check out the full story here