FT News Briefing Investors roll the dice on prediction markets
Jul 24, 2024
Tesla's net income sees a dramatic drop of 45% due to lower vehicle deliveries and company layoffs. Meanwhile, investors are betting on Donald Trump's potential return to the White House, leading to a rethink of 'Trump trades' in the markets. The rise of prediction markets offers a fascinating insight into how individuals are wagering on political outcomes and cultural events. As these platforms grow, they face regulatory hurdles, transforming the investment landscape in exciting ways.
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Tesla's Performance
- Tesla's net income dropped 45% last quarter due to slower deliveries and layoffs.
- However, revenue increased by 2% thanks to their energy storage business.
Trump Presidency and Tech Investors
- Investors predict a Trump/Vance victory in the upcoming election.
- They question how tech investors, in particular, can profit from this potential presidency.
Vance's Criticism of Big Tech
- J.D. Vance has criticized Big Tech, raising concerns about its relationship with a potential Trump administration.
- Trump's stance on Taiwan's defense also worries tech companies, especially semiconductor companies.