Bitcoin Price Drop to $8.9K Raises Fear of a New Bear Trend Beginning. Traders fear Bitcoin could be entering a new bearish trend after the price dropped below $9,000 earlier today. The price of Bitcoin (BTC) dropped to as low as $8,900 on May 21 following a strong rejection of the $9,800 level
Tesla (TSLA): Do not believe the hype, says analyst The electric car giant Tesla (TSLA) is at the top of its game and reached another all-time high on Wednesday, reaching the long-awaited $1,000 mark. The latest surge followed when a memo from CEO Elon Musk told employees that it was “time to give it all” for the production of the Tesla Semi.
However, the latest Tesla rally gained momentum earlier this week when reports came out that demand for Model 3 in China has increased. The news channels focused on the 11,095 Model 3 that were taken out of Tesla’s Shanghai Giga 3 factory last month and are now facing a new home.
Craig Alexander, Chief Economist of Deloitte Canada, gives some thoughts on what the COVID 19 crisis could mean for productivity development.
One of my main concerns about economic recovery after the crisis is the potential slowdown (or total decline) in labor productivity. There is some evidence that workers are, on average, less productive when they work from a distance than when they are in the office. And since distance working is likely to remain a significant part of business life until a vaccine is fully implemented, overall productivity is likely to suffer.
This could be exacerbated by physical distance regulations in retail, finance, transportation and other service-producing sectors. The new restrictions are likely to increase costs and require investment in potentially unproductive capital (barriers, scanners, etc.) when maintaining an office, running a business or producing in a factory. In the absence of productivity gains, rising operating costs are expected to exert downward pressure on wages or upward pressure on prices, making a slow recovery scenario much more likely.