Heading into a new trading week, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend.
1. Bitcoin Dip Entices Investors: The fall in the price of apex cryptocurrency Bitcoin (CRYPTO: BTC) to below the $60,000 mark on Sunday night is attracting investors, it was reported, citing Craig Erlam, senior market analyst at Oanda. Inflation is expected to grab attention in the upcoming Thanksgiving week, while Bitcoin is seen as a hedge against inflation.
2. Female Worker Sues Tesla: A Tesla Inc. (NASDAQ:TSLA) female worker has filed a lawsuit, alleging that the Elon Musk-led company’s female employees face “rampant sexual harassment.” Jessica Barraza said in her lawsuit Tesla supervisors and the human resources department failed to take action despite her complaint that she was subjected to constant harassment at the factory.
3. Apple Confirms Workers’ Rights To Discuss Pay: Apple Inc. (NASDAQ:AAPL) has confirmed to its workers in a memo that they have the right to discuss their wages, hours and working conditions, with the move coming after employees pushed the tech giant to do more to ensure equity in pay. Apple is facing several lawsuits from former employees, who have accused the company of unfair labor practices.
4. Avalanche Overtakes Dogecoin For Top-10 Cryptocurrency Spot: Avalanche has surpassed Dogecoin (CRYPTO: DOGE) to emerge as the cryptocurrency with the tenth-highest market capitalization, it was reported, citing CoinMarketCap data.
Meanwhile, Avalanche project founder and Ava Labs CEO Emin Gün Sirer took a dig at Ethereum’s congestion and said that Avalanche will “address lesser engineering problems without batting an eyelid.”
5. Elon Musk’s Pot Shot At Biden Administration: Tesla CEO Elon Musk has taken another pot shot at the Joe Biden-Kamala Harris administration over purportedly ignoring the fact that his company is the market leader in electric vehicles. Musk was responding to a post on Twitter by entrepreneur David Sacks, who criticised the Biden administration for its “epic gaslighting” of Tesla.
What Else: Among other stories from the weekend, investors would want to check out the EV week in review, the latest sale of Tesla shares worth $30.6 million by Cathie Wood-led investment management firm Ark Invest, and the top ten most-watched movies of all-time on streaming giant Netflix Inc. (NFLX).
In a fresh crackdown, Chinese regulators have ordered Chinese tech giants – including Alibaba Group Holding Limited (NYSE:BABA) – to pay RMB 500,000 yuan ($78,282) for each of the 43 merger and acquisition (M&A) transactions that were not reported by the companies over the past eight years.