Diamonds and Dogs


Elon Mush floats idea to starting one parent company to hold Tesla (TSLA), SpaceX, Boring and Neuralink. Elon Musk is the CEO of multiple companies. One thing all of these companies have in common is the desire to solve problems humans are or will soon face and let everyone look forward to a brighter future. While Tesla is public, the other companies remain privately held. SpaceX has talked about spinning off Starlink into an IPO. Starlink is currently launching a satellite-based internet solution that aims to service the internet to rural customers or those out of reach of land-based internet connections. The Boring Company looks to dig tunnels underground to alleviate traffic congestion.

Alibaba Group Holding (BABA) suffers a historic selloff. Alibaba closed down 13% at a six-month low after Chinese regulators launched an antitrust investigation into the e-commerce giant. The 13% decline was the biggest one-day decline since going public in September 2014, breaking the previous record drop of 8.8% on Jan. 29, 2015.

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