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This week in cryptocurrency saw significant developments including Mike Novogratz predicting Kamala Harris may embrace crypto, Peter Schiff criticizing Trump and Saylor's Bitcoin strategy, and the FBI warning of crypto exchange impersonation scams. Notably, Grayscale Bitcoin Trust (GBTC) experienced an 11% drop following the announcement of a spinoff into a new ETF.

Portfolio Pulse from Benzinga Neuro

August 04, 2024 | 1:26 pm

AAPL

Apple Inc. (NASDAQ:AAPL) had a dynamic week with Q3 earnings surpassing expectations, excitement over AI capabilities, a crackdown on App Store fees, a new vehicle camera system patent, and news about the iPhone 16 models missing initial AI features.

Portfolio Pulse from Benzinga Neuro

August 04, 2024 | 1:26 pm

F

KARS

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TSLA

UBER

The EV sector faced selling pressure last week amid a broader market downturn. Tesla's stock dipped despite strong sales in China and positive updates on its FSD technology. Uber partnered with BYD to introduce 100,000 new EVs to its platform. Lucid Motors provided an update on its Gravity SUV production. Ford reported a significant increase in EV sales for July. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 3.47% for the week.

Portfolio Pulse from Shanthi Rexaline

August 03, 2024 | 5:30 pm

TCNNF

Ohio medical marijuana dispensaries have been approved to launch recreational cannabis sales starting August 6. The Ohio Division of Cannabis Control will issue dual-use certificates to existing medical marijuana shops. Trulieve, a Florida-based multi-state operator, announced it will begin sales on the same date. Ohio's cannabis industry is expected to generate $1 billion annually and create 3,300 full-time jobs in the first year.

Portfolio Pulse from Maureen Meehan

August 03, 2024 | 4:30 pm

TSLA

Elon Musk discussed the idea of a 'government deficiency commission' with Donald Trump, expressing interest in joining it to reduce regulatory accumulation. Musk believes this could help key projects like high-speed rail. Despite Trump's stance against EV subsidies, Musk thinks the impact on Tesla would be slight and could benefit the company long-term.

Portfolio Pulse from Anan Ashraf

August 03, 2024 | 7:44 am

TSLA

Tesla Inc (NASDAQ:TSLA) announced that it can produce one Powerwall 3 unit every 25 seconds, amounting to over 700,000 units annually. The Powerwall 3, a home battery for storing solar energy, has contributed to a 100% year-on-year revenue increase in Tesla's energy generation and storage segment. Tesla expects its energy business revenue growth to outpace its automotive segment for 2024.

Portfolio Pulse from Anan Ashraf

August 03, 2024 | 6:56 am

TSLA

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has vowed to investigate the company's lawsuit against EVject, which produces a 'breakaway' charging connector for Tesla EVs. Tesla alleges the connector is dangerous due to overheating risks, while EVject claims the tests were flawed and is open to collaboration.

Portfolio Pulse from Anan Ashraf

August 03, 2024 | 6:35 am

TSLA

Tesla's use of dry cathode 4680 cells in the Cybertruck is seen as a major breakthrough by CEO Elon Musk and investor Sawyer Merritt. This technology could reduce costs by 15%-30% and result in higher-density batteries if scaled successfully. Tesla aims to start production of Cybertrucks with these cells in Q4, potentially achieving profitability by year-end.

Portfolio Pulse from Anan Ashraf

August 03, 2024 | 5:24 am

TSLA

Elon Musk projects that Grok, an AI system by xAI, will become the world's leading AI system by leveraging real-time data from X (formerly Twitter), Tesla cars, and Optimus robots. Musk emphasizes the importance of potent training compute and efficient use of data. xAI recently raised $6 billion in Series B funding and has attracted several ex-Tesla employees.

Portfolio Pulse from Rounak Jain

August 03, 2024 | 3:56 am

F

TSLA

Ford Motor Co (NYSE:F) reported a 31% increase in EV sales in July, driven by the F-150 Lightning pickup truck. The company sold 8,242 electric vehicles, with the F-150 Lightning seeing an 82% jump in sales. The Mustang Mach-E and E-transit also saw growth. Despite competition from Tesla's Cybertruck, Ford's EV sales continue to rise.

Portfolio Pulse from Anan Ashraf

August 03, 2024 | 3:24 am