U.S. markets saw big moves as Bitcoin slumped on Trump policy doubts, Nvidia faced delays from overheating AI chips, and Tesla stood to gain from a possible EV tax credit phase-out. Palantir stock hit a record on Nasdaq listing news, while Buffett’s new bets on Domino's and Pool Corp lifted their shares. All this and more on the November 18 edition of World Street.
Bitcoin Falls Amid Trump Policy Doubts
Bitcoin experienced its sharpest two-day decline since the U.S. election, driven by caution in global markets. Traders are uncertain about the timing and feasibility of President-elect Donald Trump’s pro-crypto policies, including the proposed creation of a U.S. Bitcoin reserve.
Nvidia AI Chips Face Overheating Issues
Nvidia’s Blackwell AI chips are running into overheating problems in server racks designed to hold up to 72 units. These issues are delaying customer projects, raising concerns over timelines for new data center launches. Sources indicate the delays could disrupt broader adoption plans.
Tesla May Gain from EV Tax Credit End
The $7,500 electric vehicle tax credit might be phased out under Trump’s administration, but the change could benefit Tesla. The credit supports higher EV pricing, but its removal could help Tesla compete more effectively against gas-powered cars. A similar phase-out in the past led to only modest price reductions for Tesla vehicles.
Palantir Stock Hits Record on Nasdaq Move
Palantir shares soared 11 percent on Friday, November 15, closing at a record $65.77, after the company announced plans to switch its listing to the Nasdaq. This adds to a 45 percent jump since its strong earnings report last week. Palantir’s market cap has now climbed to $150 billion, with shares nearly quadrupling this year.
Buffett Adds Domino's and Pool Shares
Warren Buffett added Domino's Pizza and Pool Corp to Berkshire Hathaway’s portfolio in Q3 2024. Domino's accounted for 0.21 percent of the portfolio, valued at $549.4 million, while Pool made up 0.06 percent at $152.25 million. Following the announcement, Domino's stock jumped 8 percent and Pool Corp rose 6 percent, as investors reacted to Buffett’s moves.
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