Thursday’s Headlines: Should Tesla Have Recalled Its Vehicles?

Thursday’s Headlines: Should Tesla Have Recalled Its Vehicles?

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Sea Limited (SE) +7.5%

Datadog (DDOG) +7.1%

Twilio (TWLO) +5.9%

Cloudflare (NET) +5.6%

Zendesk (ZEN) +5.5%

Moving Down ⬇️

Evolent Health (EVH) -11.5%

Align Technology (ALGN) -5.0%

Texas Roadhouse (TXRH) -3.1%

Monster Energy (MNST) -3.0%

Chuy's (CHUY) -2.2%

1. Tesla (TSLA) is in hot water once again as the National Highway Traffic Safety Administration (NHTSA) is asking why it didn’t initiate a recall in September. Last month, Tesla released a safety software update to its customers, just weeks after the NHTSA initiated a probe into its safety features, to help improve Tesla vehicles ability to detect emergency vehicle lights in low-light conditions. The NHTSA is now questioning if the software update should have warranted a mass recall, which would be very costly if the EV maker was forced to do so. In more positive news, Tesla took two of the top three spots for the best-selling EV models in China. See more on the story here

2. There is also trouble brewing for Boston Beer (SAM) as the boozy brewer is being investigated by Labaton Sucharow, a shareholders rights firm. Back in September, the company declared that it was withdrawing its 2021 financial guidance due to a decrease in demand for its hard seltzer products. At this time, Boston Beer also stated that it predicts to incur significant seltzer-related inventory write-offs, high fees for third party brewers, and other costs associated with the fall in demand. Following the news, shares dropped 10%, thereby hurting investors. If shareholders decide to sue, this could prove very expensive for Boston Beer, especially after the tough year it has had. Check out more on the story here

3. In a bid to help merchants streamline their business operations, Shopify (SHOP) is teaming up with top cloud companies Microsoft (MSFT) and Oracle (ORCL). Businesses will now be given access to Enterprise Resource Planning (ERP) tools including Microsoft Dynamics 365 Business Central on the Shopify app. Previously, merchants had to rely on third-party applications to connect Shopify to their ERP tools, which range from financial trackers to inventory management systems. These partnerships will allow the Canadian e-commerce company to double down on its fast growing merchant businesses by helping it attract more businesses. In addition, it will also give Microsoft the opportunity to strengthen its hold on the cloud market. Read more on the story here.

NicoleNicole

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