Stock Market Winners & Losers: S&P 500’s Shaky October Start Continues | Tesla Not Meeting Delivery Deadlines | X is Worth 80% Less Than Elon Musk Paid
The S&P 500 remained flat as market momentum stalled amid rising tensions in the Middle East following Iran’s missile strikes on Israel. Nike's stock fell over 6% after the company withdrew full-year guidance ahead of its CEO transition. Energy stocks continued to outperform.
Tesla reported 462,890 deliveries for Q3 2024, slightly up from last quarter but facing growing competition from Chinese and U.S. automakers. Tesla's brand is under pressure due to controversial actions by CEO Elon Musk, including political endorsements and spreading misinformation.
Musk's social media platform X (formerly Twitter) has lost nearly 80% of its value since his $44 billion purchase, with ad revenue shrinking and user numbers down 20% year over year. Concerns over extreme content have led to a significant advertiser pullback, with 26% of marketers planning to reduce spending on the platform in 2024. Musk later apologized for a controversial post linked to antisemitic conspiracy theories.
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