Category: Financial News

There are more reasons behind Tesla’s (TSLA) plunging stock price than Elon Musk’s focus on Twitter, according to Wells Fargo auto analyst Colin Langan.

“It’s very concerning about the weakness that we’re seeing in China,” Langan said on Yahoo Finance Live (video above). “We are seeing incentives go up, and sales are actually not increasing there. And [a] driving concern is: Are we going to start seeing that in the US and Europe? Is that just sort of the early days of softening demand? And I think that is really more of the large institutional investors’ top concern.”

Shares of the EV maker are down about 67% from a peak in November 2021 — the stock’s largest drawdown since its market debut in 2010 — and down 26% so far this month alone.

Most of the losses for Tesla investors started after Elon Musk offered to buy Twitter in April,

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Opening a Roth IRA can be a smart move if you want to invest for retirement and save money on taxes later in life. However, there are strict rules when it comes to how much you can contribute to your Roth IRA. 

Contributions to a Roth IRA are made with after-tax dollars, which means your money can grow tax-free. When you’re ready to take distributions from your Roth IRA in retirement (or after age 59 ½), you won’t pay income taxes on your distributions, either.

If you want to start contributing to a Roth IRA as part of your retirement strategy, keep in mind there are some limits. For example, if you’re under the age of 49 you can contribute a maximum of $6,500 for the 2023 tax season. 

Interested in learning more about the specifics of the Roth IRA? Here’s everything you need to know.

How Much Can

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Typical profits for investors flipping homes have hit a 13-year low. But the DC region ranks high for return on investment compared to other areas.

Typical profits for investors buying a home, renovating it, and reselling a home — or flipping it — have hit a 13-year low. But the DC region ranks high for return on investment.

Real estate data firm Attom Data Solutions reports 7.5% of homes purchased in the third quarter nationwide were flips, or one in 13 transactions. That was down 8.2% from the second quarter, though still 5.9% more than the third quarter of 2021. Notably, despite the recent decline in flips, the rate during the third quarter was the third-highest in the past decade.

The DC metro area ranked fourth for gross profits on a median-priced home flip last quarter, at $140,000. Baltimore ranked just behind DC, at $135,000. Salisbury, Maryland, topped the list,

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Wells Fargo is predicting big things for Disney’s (DIS) sports network ESPN in 2023.

In a new note published on Tuesday, Wells Fargo analyst Steve Cahall outlined the firm’s top predictions for the media business in 2023, and made a big call about the future of ESPN under Bob Iger’s leadership at Disney.

“DIS will begin the spin-off process for ESPN & ABC including launching ESPN in streaming a la carte,” Cahall wrote. “Cost rationalization and balance sheet options are critical to reaching this outcome. The result is a better-off remaining DIS.”

Whether or not Disney should consider spinning off the popular sports network has been a perpetual talking point at among investors for years, and picked up steam this year after Third Point’s Dan Loeb sent a letter to the company urging an ESPN spin-off.

Loeb argued that ESPN would have greater flexibility to pursue business initiatives, such as

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