Chip

Elon Musk

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Shares of Tesla Inc. (NASDAQ: TSLA) and Broadcom Inc. (NASDAQ: AVGO) soared in early trading on Tuesday, riding a wave of positive investor sentiment. Meanwhile, Paramount Global (NYSE: PARA) stock continued its downward slide as controlling shareholder Shari Redstone <a href="https://www.youtube.com/watch?v=DrUS_P5jlwk" target="_blank" aria-label="killed a potential merger deal (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">killed a potential merger deal</a> with Skydance Media.</p>
<h3 id="tesla-stock-jumps-on-musk-pay-package-vote-and-texas-hq-move">Tesla Stock Jumps on Musk Pay Package Vote and Texas HQ Move</h3>
<p>Tesla shares jumped as much as 7.2% to $185.70 after CEO Elon Musk indicated <a href="https://www.nbcnewyork.com/news/business/money-report/elon-musk-claims-he-is-set-for-victory-in-56-billion-tesla-pay-vote/5503192/" target="_blank" aria-label="shareholders were voting in favor of his $56 billion pay package (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">shareholders were voting in favor of his $56 billion pay package</a> from 2018, which a Delaware judge had previously invalidated.</p>
<p>The vote carries more symbolic than legal weight, as it’s unclear if the court will accept the re-vote. Shareholders also voted on moving Tesla’s state of incorporation from Delaware to Texas, with Musk suggesting the proposal was passing by a wide margin.</p>
<p>Approval of the pay package is expected to remove an overhang on the stock and ease uncertainty around Musk’s continued leadership.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p>
 </div>
</div>
<h3 id="broadcom-soars-on-ai-chip-forecast-and-stock-split">Broadcom Soars on AI Chip Forecast and Stock Split</h3>
<p>Broadcom’s stock price reached new heights, surging 14% to $1,707.48, driven by the company <a href="https://tokenist.com/broadcom-stock-surges-on-strong-ai-chip-demand-and-stock-split-announcement/" rel="noopener noreferrer nofollow" class="deco-link">raising its revenue forecast</a> from AI chips to $11 billion for 2024 and announcing a 10-for-1 stock split.</p>
<p>Strong Q2 earnings, with AI product revenue reaching $3.1 billion, and an increased full-year revenue forecast of $51 billion also boosted investor confidence. Broadcom’s AI chips are crucial in applications like OpenAI’s ChatGPT, and the company has attracted significant orders from large cloud providers.</p>
<h3 id="paramount-tumbles-as-redstone-ends-skydance-talks">Paramount Tumbles as Redstone Ends Skydance Talks</h3>
<p>Paramount Global stock fell further on Wednesday, down about 2% in early trading after sinking nearly 8% on Tuesday. The drop came after Shari Redstone, who controls Paramount through her family’s holding company National Amusements (NAI), ended merger talks with Skydance Media.</p>
<p>The collapse of the deal has had an immediate negative impact on Paramount’s stock price, with the lack of a clear path forward in terms of a merger or acquisition likely to weigh on investor sentiment in the near term. Uncertainty over leadership, following the <a href="https://www.forbes.com/sites/dbloom/2024/04/30/with-bakish-gone-where-does-paramount-and-its-suitors-go-next/#:~:text=Paramount%20Global%27s%20Bob%20Bakish%20became,sell%20her%20family%20media%20empire." class="deco-link" target="_blank" rel="noopener noreferrer nofollow">recent departure </a><a href="https://www.forbes.com/sites/dbloom/2024/04/30/with-bakish-gone-where-does-paramount-and-its-suitors-go-next/#:~:text=Paramount%20Global%27s%20Bob%20Bakish%20became,sell%20her%20family%20media%20empire." target="_blank" aria-label="o (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">o</a><a href="https://www.forbes.com/sites/dbloom/2024/04/30/with-bakish-gone-where-does-paramount-and-its-suitors-go-next/#:~:text=Paramount%20Global%27s%20Bob%20Bakish%20became,sell%20her%20family%20media%20empire." class="deco-link" target="_blank" rel="noopener noreferrer nofollow">f CEO Bob Bakish</a>, may also be contributing to the decline.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-tesla-paramount-and-broadcom/">Stocks to Watch Today: Tesla, Paramount, and Broadcom</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: Tesla, Paramount, and Broadcom

Table of Contents

Tokenist

Other articles published on Jun 13, 2024

BNB Chain and Binance Labs Partner With VCs to Launch BNB Incubation Alliance

TON Network Outpaces Ethereum Daily

Sandbox Enables Users to Create Unique Experiences on Ethereum Blockchain

Bitget COO Apprentices Showcase Talent at the University of Nicosia Event

Become a network validator on QIE Blockchain - early validators making 40% monthly!

Is It Too Late To Buy MOTHER? Mother Iggy Price Pumps 9% As Holders Pivot To This AI Meme Coin Fo...

Join our free newsletter for daily crypto updates!