Wall Street tends to be conservative on GM, Ford, relatively bullish on Tesla

Wall Street has turned conservative on the outlook for shares of General Motors (GM) and Ford (FORD) amid factors such as cost-driven inflation, rising interest rates and a persistent shortage of parts. In contrast, electric car maker Tesla (Tesla) is still bullish on the grounds that Tesla’s fundamentals are strong and will support future stock performance.

“Barron’s” reported that on March 28, Citigroup analyst Itay Michaeli issued a research report, lowering the estimated value of GM’s operating profit in 2022 from $14.7 billion to $13.9 billion. The forecast range is $13 billion to $15 billion. Michaeli lowered his price target on GM’s stock to $95 from $100, but remains a top pick.

Michaeli cut GM’s price target, citing rising costs, weak sales in China, factory shutdowns due to chip shortages, and Japan’s SoftBank Group (SoftBank) selling off all of its stake in self-driving car company Cruise, which GM will take over for $2.1 billion.

Michaeli also lowered Ford’s 2022 operating profit forecast to $11.6 billion from $12.2 billion, falling on the lower edge of Ford’s forecast range of $11.5 billion to $12.5 billion. He lowered his price target on Ford to $18 from $23 with a “Hold” rating.

Ford shares have fallen about 18% over the past two months, while GM shares have fallen 16% and the S&P 500 has risen about 4% over the same period. Tesla shares have been relatively supportive, rising 10% over the past two months.

The report pointed out that Tesla’s stock price was strong, including Wall Street analysts were bullish on Tesla’s fundamentals. For example, on the 25th, Royal Bank of Canada (RBC) analyst Joseph Spak revised up his forecast for Tesla’s first-quarter delivery numbers to more than 325,000 from the original 316,000.

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Regardless of the ups and downs, the big ethereum smashed hundreds of millions to buy boring ape coins Apecoin

One of the most well-known products in the NFT world is the Boring Ape series. After the launch of the ape coin Apecoin last week, it immediately triggered a wave of explosive purchases, and then plummeted. However, the giant ethereum whales seem to be full of confidence and continue to buy without reluctance.

The Bored Ape series is one of the most valuable collectibles in the NFT world, and it is also a popular product that celebrities are buying. 500 yuan, the momentum is hot.

However, it returned to calm after a weekend and quickly fell back to the 300 yuan range. Some people think that this kind of bubble speculation is not credible, but during this period, the ethereum whale has a firm belief and continues to buy Apecoin that exceeds 100 million yuan.

According to blockchain data, currently the tenth largest ether holder in the world has purchased about 300,000 Apecoins at a cost of about US$4.2 million, equivalent to NT$120 million. Interestingly, another wallet owner, currently the 20th largest ethereum whale in the world, also bought the same amount of Apecoin at the same time. The two bought a total of 600,000 Apecoins, worth $6.6 million.

Apecoin is the governance token of the APE ecosystem. According to the issuer, Apecoin will be the participation certificate for decentralized governance, as well as the admission certificate for related games and services. A total of 1 billion tokens were issued, and about 30.25% of the tokens entered the market on March 17, the launch day.

Although the value of Apecoin is not as good as expected before the launch, the transaction volume is impressive. According to the data of WhaleStats, a large-scale monitor, Apecoin has become the top 10 trading target among the world’s 1,000 largest ether holders. At the same time, Apecoin is also a smart contract (Smart Contract). The most used cryptocurrency with a 10.31% usage rate in the last 24 hours.

With a trading volume of $2 billion in the past 24 hours and a market cap of $2.8 billion, Apecoin is currently the 47th largest cryptocurrency.

Elon Musk: As long as McDonald’s accepts Dogecoin, I’ll be on TV and eat Happy Kids’ Meal

Musk, the founder of Tesla, made another surprise move. On January 25, he announced that as long as McDonald’s accepts Dogecoin (DOGE) payment, he will publicly eat McDonald’s happy children’s meals on TV.

McDonald’s Happy Meal is a childhood memory of many people. Chicken nuggets, crispy fries, hamburgers and toys that come with meals often give children a very happy experience. Now Tesla founder Elon Musk said on Twitter on the 25th that as long as McDonald’s accepts dogecoin (DOGE) payment, they will eat happy children’s meals with free advertising.

Musk’s behavior immediately attracted a large number of villagers to make pilgrimages. Some people directly marked McDonald’s official Twitter, saying “hurry up and accept Dogecoin, and then you can wait for your business to soar”, and some people magically modified McDonald’s classic Slogan “I’m lovin it” ” into “I’m hodlin it”. Some netizens also changed their head stickers to McDonald’s, saying “your order has been confirmed”.

More villagers posted the recently rumored McDonald’s recruitment meme, showing that McDonald’s decided to open up jobs to save the crypto brothers in order to help the cryptocurrency community that was “in trouble recently”. Another meme picture shows that McDonald’s is full and announced that it will stop hiring; no matter which one reflects the current downturn in the currency market, the group jokes about the atmosphere of going to McDonald’s to work.