Facebook Whistleblower's Crypto Connection, China COVID-19 Risk, Tesla Price Hike, Ark's Bet On Snap, Elon Musk On Dogecoin, Shiba Inu: 5 Key Headlines You May Have Missed

Heading into a new trading week, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend.

1. Elon Musk On Dogecoin, Shiba Inu: Tesla Inc. TSLA CEO Elon Musk has responded to an article by Benzinga, saying that he became a supporter of Dogecoin DOGE/USD after finding many of his employees at Tesla and SpaceX owned the meme cryptocurrency.

Meanwhile, Shiba Inu, which calls itself the Dogecoin-killer, saw a massive spike over the weekend and touched a new all-time high of $0.00004442 on Sunday morning. It is now the thirteenth-largest cryptocurrency by market capitalization, as per CoinMarketCap data. Musk said in one tweet that he didn't own any Shiba Inu coins.

2. Facebook Whistleblower Cryptocurrency Disclosure: A Facebook Inc. FB whistleblower who had accused the social media giant of betraying democracy, has disclosed she is an investor in cryptocurrencies. Frances Haugen, a former Facebook product manager, made the disclosure in an interview with The New York Times on Sunday.

3. Tesla Hikes Prices Again; Rolls Back FSD: Tesla has hiked the prices of the Model X Long Range and Model S Long Range vehicles by $5,000 each, marking the second price increase for the long-range variants in three months.

It was reported on Sunday that Tesla has temporarily rolled back the latest version of full self-driving (FSD) beta software just a day after it was released, in order to fix some software issues.

4 Hang Seng Index Recovery At Risk Due To China COVID-19 Surge: An attempt by the Hong Kong stock exchange’s benchmark Hang Seng Index to stage a recovery on Monday faces risk from the COVID-19 outbreak in mainland China that is expected to worsen in the coming days. Shares of prominent U.S.-listed Chinese companies, including Alibaba Group Holding Limited BABA traded higher in Hong Kong early Monday but closed in red.

5. Cathie Woods Bets On Social Media Giants: Popular money manager Cathie Wood’s Ark Invest bought shares estimated to be worth $12.7 million in Snapchat parent Snap Inc. SNAP and also acquire 448,944 shares in Twitter Inc. TWTR on Friday as the stocks of these companies dipped after Snap's grim warning about the impact of iOS privacy changes.

What Else: Among other stories from the weekend, investors would want to check out the EV week in review and Nigeria’s plan to launch its national digital currency eNaira on Monday.

Meanwhile, a handwritten letter by late Apple Inc. co-founder Steve Jobs is expected to fetch up to $300,000 in an auction next month. It was also reported that actor James Michael Tyler, best known for his role as coffee shop manager Gunther on NBC's sitcom “Friends,” died on Sunday at age 59.

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsGlobalMarketsTechARK InvestCathie WoodChinadogecoinElon Musk
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!