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Tesla shares already up 2.86% after 5-for-1 stock split

Derek Strickland | Mon, Aug 31 2020 9:12 AM CDT

Tesla's stock went from $2,213 a share to $457 a share after 5-for-1 stock split, and so many investors want to buy that they're crashing trading sites.

Tesla shares already up 2.86% after 5-for-1 stock split 434 | TweakTown.com

Tesla's new stock split has would-be investors extremely interested in buying the stock. They're so interested that key trading sites like Ameritrade and Robinhood are being overwhelmed. At the time of writing, Robinhood still allows trades, but is experiencing high traffic that is limiting functionality.

Tesla announced the 5-for-1 stock split earlier this month. The split awarded all existing investors a dividend of four extra stock on August 28, and the split took effect today, Monday, August 31. At the time of writing, Tesla stock sits at a stock-split adjusted value of $457 a share and has already jumped 2.86% from its initial split value.

Continue reading: Tesla shares already up 2.86% after 5-for-1 stock split (full post)

TSMC continues to dominate: over half the industry's EUV machines

Anthony Garreffa | Sun, Aug 30 2020 11:02 PM CDT

TSMC continues forging ahead to be the dominant leader in the industry, where Taiwan Semicondctor Manufacturing Company is so ahead of the competition it might take them to 2030, if ever, to catch up.

TSMC continues to dominate: over half the industry's EUV machines 09 | TweakTown.com

Well, it's not just there -- but the company teased its recent 3nm node with 3x the silicon density over 7nm, with 51% less power, and it is up to 32% faster than TSMC's current 7nm node. TSMC hosted its Technology Symposium last week, where all of these announcements flew out.

TSMC also teased what it has coming in 2023, where the industry leader will have 12-stack next-gen HBM on next-gen GPUs coming out of its fabs. How can it get better? Well, with all of this chip production for companies like AMD, NVIDIA, Qualcomm, Intel, Apple, Huawei and many others -- it must be using most of the latest equipment to make next-gen chips, right?

Continue reading: TSMC continues to dominate: over half the industry's EUV machines (full post)

Chinese equivalent of TSMC in Wuhan, HSMC, is a mess and here's why

Anthony Garreffa | Sun, Aug 30 2020 9:57 PM CDT

TSMC is so ahead of the game that even Korean giant Samsung might not catch up until 2030, or ever (more on that here) -- but Beijing thought it could compete with TSMC with its own $20 billion fab plant in Wuhan.

Chinese equivalent of TSMC in Wuhan, HSMC, is a mess and here's why 10 | TweakTown.com

Wuhan was the epicenter of the COVID-19 pandemic, with a partially-built factory sitting there doing nothing now in Western Wuhan. Wuhan Hongxin Semiconductor Manufacturing Company (HSMC -- because that's not obvious) was meant to be the "key part of a US$20 billion investment that turned the province into a chip manufacturing hub" reports South China Morning Post.

Construction on the new plant started in 2018 and was meant to make 14nm and 7nm chips, with HSMC expecting to make around 30,000 chips per month. Beijing offered a 10-year corporate t ax break to established companies that could make chips that were 28nm or smaller, but even with this help HSMC has failed with its new facility.

Continue reading: Chinese equivalent of TSMC in Wuhan, HSMC, is a mess and here's why (full post)

TSMC is so ahead of the game, Samsung might not catch up until 2030

Anthony Garreffa | Fri, Aug 28 2020 8:04 PM CDT

TSMC is a leader in the semiconductor space, but Samsung has been wanting a bigger piece of the semiconductor pie for a while now -- with goals of being the #1 semiconductor manufacturer by 2030. Well, it looks like TSMC might have just ended that battle, 10 years before it even began.

TSMC is so ahead of the game, Samsung might not catch up until 2030 11 | TweakTown.com

DigiTimes is reporting that TSMC will use Hsinchu Baoshan as their HQ for the new 2nm node, which Apple being the customer of the 2nm wafer, should be using in a future iPhone.

TSMC will create 10,000 jobs in its two new major R&D and production bases in Taiwan, with an investment of "at least NT$600 billion" reports DigiTimes. In USD, we're talking about an investment of around $20 billion -- which is not a small amount of money.

Continue reading: TSMC is so ahead of the game, Samsung might not catch up until 2030 (full post)

Elon Musk net worth reaches $100 billion, just half of Jeff Bezos

Jak Connor | Fri, Aug 28 2020 9:03 AM CDT

2020 has been a massive year for Elon Musk, with significant achievements happening in both Tesla and SpaceX.

Elon Musk net worth reaches $100 billion, just half of Jeff Bezos 01 | TweakTown.com

Now, according to a Bloomberg report, Elon Musk's net worth has now risen above $100 billion, which just happens to be the exact same day Amazon CEO Jeff Bezos reached the $200 billion mark. In just 2020, Tesla stock has seen a rise of 400%, which has caused Musk's personal wealth to exceed by $73 billion this year.

Most of the Musk's wealth has come from the increasing price of Tesla stock, which isn't really that surprising when you look at the numbers. As of June this year, Musk owned 40.4 million Tesla shares, which equates to $87 billion of his net worth. Comparatively, at the beginning of 2020, Musk owned about 38.7 million shares, worth $16.2 billion. If you are after any more information regarding this topic, check out his link here.

Continue reading: Elon Musk net worth reaches $100 billion, just half of Jeff Bezos (full post)

50,000 people will receive a stimulus check next month, says the IRS

Jak Connor | Thu, Aug 27 2020 6:33 AM CDT

Many Americans are struggling with dealing with the financial effects of the coronavirus, but luckily the Internal Revenue Service (IRS) will be sending out stimulus checks to 50,000 Americans this month.

50,000 people will receive a stimulus check next month, says the IRS 68 | TweakTown.com

The IRS made the announcement this Wednesday, and according to the announcement, the IRS says it's correcting a mistake it made by not sending out the checks already. The IRS says that it will soon be sending out "Economic Impact Payment" checks to 50,000 individuals "whose portion of the EIP was diverted to pay their spouse's past-due child support."

The IRS goes on to say that these checks are issued to arrive in early-to-mid-September. So, how do you know if you will be getting one of these checks? According to the IRS statement, checks will be mailed to "to any eligible spouse who submitted Form 8379, Injured Spouse Allocation, along with their 2019 federal income tax return, or in some cases, their 2018 return." Lastly, the IRS says that spouses won't need to take any action to receive their check and that the IRS will be automatically issued the payment.

Continue reading: 50,000 people will receive a stimulus check next month, says the IRS (full post)

This is who is paying the nearly $300 billion for stimulus checks

Jak Connor | Tue, Aug 25 2020 2:35 AM CDT

Back in March, the United States government announced the CARES Act, which authorized about $300 billion in stimulus checks poised to go directly to struggling Americans.

This is who is paying the nearly $300 billion for stimulus checks 68 | TweakTown.com

But who is picking up the $300 billion check? And where does the money actually come from? Well, the money is borrowed, and there are three main players involved in the process of receiving the funds. First is Congress, who approves the initial bill, or in this instance, the CARES Act. Then Congress passes the bill along to the Treasury Department, who then sources a loan from the Federal Reserve.

Sahil Bloom, a financial educator and vice president at Altamont Capital Partners, explained the process and said that since we are living in the digital age, the Federal Reserve can create money without actually printing anything. "We live in a digital age. So really money is just numbers on a screen." The Federal Reserve then accepts the loan, which the US government has to pay back. If you are interested in learning more about this process, check out the video explanation here.

Continue reading: This is who is paying the nearly $300 billion for stimulus checks (full post)

$12,000 coronavirus stimulus checks, and how likely you are to get one

Jak Connor | Mon, Aug 24 2020 8:32 AM CDT

The last couple of weeks have been all over the place for coronavirus stimulus checks being developed, and then we caught wind of a proposal that was like no other.

$12,000 coronavirus stimulus checks, and how likely you are to get one 30 | TweakTown.com

The proposal came from Senator Bernie Sanders, Ed Markey, and has been since supported by Biden's choice of running mate Senator Kamala Harris. Harris has since accepted her vice-presidential nomination, which has no doubt brought more attention to this legislation. Harris backs this legislation, and in the event of Biden winning the election, we could see a strong push for it to be passed.

If the legislation is passed, most Americans will receive a stimulus check of $2,000, and then another $2,000 a month for the entire duration of the pandemic. Additionally, eligible Americans would receive back pay for every month they have already endured the pandemic. The pandemic has been going for six months now, which means that eligible Americans would receive $2,000 x 6 months, equalling $12,000.

Continue reading: $12,000 coronavirus stimulus checks, and how likely you are to get one (full post)

Tesla stock just breached $2000, sets a lofty new record

Anthony Garreffa | Fri, Aug 21 2020 7:53 AM CDT

Tesla stock isn't stopping right now, with the electric vehicle giant seeing its stock hit a record high, breaching $2000 on Thursday.

Tesla stock just breached $2000, sets a lofty new record 888 | TweakTown.com

The increase in Tesla stock prices jolted the market capitalization to $370 billion,with Tesla silently driving upwards into its five-for-one stock split that comes on August 21, where it gets distributed to anyone who has Tesla stock.

Once this happens, it could see Tesla be included in the S&P 500 stock index, where if Tesla can secure a place in the S&P 500, funds that track the index are required to buy Tesla shares. We all know what happens from there, Tesla shares continue to skyrocket.

Continue reading: Tesla stock just breached $2000, sets a lofty new record (full post)

Intel announces $10 billion stock buyback to raise share value

Derek Strickland | Thu, Aug 20 2020 12:01 PM CDT

Intel is accelerating its $20 billion stock buyback strategy because of lower share values, and soon plans to buy up $10 billion worth of stock.

Intel announces $10 billion stock buyback to raise share value 434 | TweakTown.com

Despite sharp upticks in Q2 revenues ($19 billion, +20%) and net income ($5.1 billion, +22%), Intel's shares have dived nearly 20% in the last month due to the delay of its 7nm process to 2022.

Intel believes its shares are worth more than their recent trade values, so the company is spending $10 billion of its cash reserves to buy up 166 million shares of its stock. The motivation here is to raise stock prices by reducing the amount of shares on the market, thereby reducing dilution of the share value.

Continue reading: Intel announces $10 billion stock buyback to raise share value (full post)

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