Happy Wednesday, readers. Tesla stock this week has $4. Twitter jitters and a broader sell-off are to blame.
Let's jump in.
New
If this was forwarded to you, sign up here>$4. Download Insider's app here.>$4
1. Tesla stock is close to flashing a bearish signal. Shares of Elon Musk's EV-maker dipped $4 of $695 Tuesday amid a broader tech sell-off.
Shareholders of the EV maker are growing tired of Musk's game with Twitter, fearing that it could distract him from running Tesla. The unease is bringing Tesla stock closer to $4.
"We believe with the Twitter shareholder meeting on the horizon and approval for the deal expected, Musk…has to decide his next step in this soap opera as Tesla investor patience is wearing very thin," Wedbush's Dan Ives said in a Monday note.
The automaker's slide comes amid a broader downturn, and $4 are forecasting more pain to come.
"There is no prospect for a material reduction in inflation unless the Fed aggressively raises rates, or the stock market crashes," billionaire $4 tweeted Monday.
Goldman Sachs had this to say: "In order for equities to $4, this kind of monetary-tightening induced contraction is most likely to end when the Fed itself shifts," $4 wrote in a note.
More bluntly, Bridgewater's Ray Dalio said $4, but stocks look even worse.
In other news:
2. US stock futures appeared stable early Wednesday, ahead of minutes from the Federal Reserve's latest policy meeting. $4.
3. On deck today: Amerco, Universal Corp, NVIDIA Corp, and Williams-Sonoma, $4 Plus, look out for Twitter's Annual Meeting of Stockholders today. Also, the Advance Report on Durable Goods is due to publish at 7.30am ET, and the Federal Open Market Committee meeting minutes are due to be reported at 1pm ET.
4. These undervalued stocks have crushed earnings forecasts and can produce returns even as fears of a market crash intensify. Morningstar analysts picked out the companies that have beat earnings expectations by 10% or more. $4
5. Russia lurches towards default, after the US Treasury ended a key sanctions exemption. From Wednesday, US investors will no longer be allowed to receive bond payments from Russia without breaching sanctions. $4
6. Small-cap stocks are flashing signs of a "nasty recession" on the horizon. To steady themselves for turmoil, investors should stick to cyclical names that can thrive in a bear market, Jefferies said. $4
7. Elon Musk's $1.1 billion Twitter profit is now a $40 million loss. Before agreeing to buy the company outright on April 14, Musk had 73 million shares. By the end of the month, that position represented a $1.1 billion profit. $4.
8. The CEO of Luxury Living Chicago Realty broke down how to use real estate investing as a wealth-building tool. "It's not easy — none of it is," maintains Aaron Galvin. $4
9. The next six months might be the exact opposite of the market's ongoing crash, Fidelity's chief quant strategist said. She told Insider why she's still bullish on stocks and bonds even after widespread selling. In her view, the odds of a rally over the next year are good —$4
10. What housing bubble? US new-home sales just plunged to pandemic-era lows, as they hit their slowest rate in two years as buyers' demand collided with soaring mortgage rates and sky-high prices. $4
Keep up with the latest
Curated by Phil Rosen in New York. (Feedback or tips? Email prosen@insider.com or tweet @philrosenn>$4.) Edited by Hallam Bullock (tweet @hallam_bullock>$4) in London.