European M&A Shows Signs of Life With $10 Billion Deal Flurry
Italian drilling specialist Saipem SpA led the charge, saying over the weekend it plans to combine with Subsea 7 SA in a transaction valuing the Oslo-listed firm at €4.65 billion ($4.9 billion). Tech investor Prosus NV then announced Monday it will buy food delivery group Just Eat Takeaway.com NV for €4.1 billion. In the UK, National Grid Plc said it will sell a renewables business to Brookfield Asset Management Ltd. for $1.7 billion.
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Business Insider
an hour ago
- Business Insider
Tesla Stock (TSLA) Faces New Trauma as European Sales Keep Sliding
Shares in EV maker Tesla (TSLA) reversed today as it suffered another European sales slowdown. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to new official industry data, sales of the company's vehicles declined in France and Denmark for the seventh consecutive month. Nordic Nightmare Tesla, led by chief executive Elon Musk, registered 1,307 new cars in France last month, representing a 27% drop compared to July 2024. In Denmark, the decline was even steeper, with sales falling 52% to 336 vehicles. Model Y registrations specifically decreased by 49% in Denmark during July. Tesla's struggles extended to Sweden as well, where new car registrations plummeted 85.8% year-on-year to just 163 vehicles in July, based on data released today by Mobility Sweden. The figures were down 83.3% from June's total of 976 vehicles. In July, the Elon Musk-led company registered 117 Model Y units, 44 Model 3s, and one unit each of the Model S and Model X. This is despite Tesla currently offering a 40,000 SEK trade-in bonus for customers purchasing a Model Y or Model 3 from July 18 to August 15, and taking delivery by August 30. As can be seen below, the U.S. and China dominate Tesla sales, but Europe remains an important market. Tesla Ecosystem The news today builds on figures last week from the European Automobile Manufacturers' Association (ACEA), which revealed that Tesla sold 70,655 vehicles in the European Union in the first half of 2025. That was down 43.7% year over year. It continues a challenging year for Tesla whose sales worldwide have been hit by increased competition from rivals such as China's BYD (BYDDY), concerns over its design appeal, threats to EV subsidies in the U.S. and a hit to its brand reputation by Musk's on and very much off involvement with President Trump's administration. Not everyone is a Tesla doubter, however, with some analysts pointing to the overall strength of the Tesla ecosystem as a reason for optimism in the stock. Indeed, some see it as heading towards a staggering $10 trillion market value based on its innovations in human-like robots, self-driving and energy storage. Is TSLA a Good Stock to Buy Now? On TipRanks, TSLA has a Hold consensus based on 14 Buy, 15 Hold and 8 Sell ratings. Its highest price target is $500. TSLA stock's consensus price target is $310.84, implying a 0.83% upside.
Yahoo
2 hours ago
- Yahoo
Why This SharpLink Whale Holds Millions in SBET—But Not Ethereum
A pseudonymous man known as 'SharpLink Whale' currently holds approximately $3 million worth of stock in Ethereum treasury company SharpLink Gaming. While the former traditional finance worker is bullish on the firm, he doesn't hold any Ethereum—and isn't buying into other treasury companies. SharpLink Whale told Decrypt that he started purchasing SharpLink stock, which trades as SBET, at around $14, as the initial hype around its Ethereum treasury plans started to die out. The European trader purchased just shy of $1 million worth of the stock to start with, and following a number of subsequent sales and purchases, he now holds $3 million worth, as verified during a call with Decrypt. He believes that Ethereum 'will have its moment now' and set new all-time highs, and that the ETH-to-BTC ratio could double this year. Despite this, he doesn't own any Ethereum outside of his SBET fortunes. SharpLink Whale explained that, firstly, he simply doesn't want to be responsible for safely storing such a large amount of Ethereum, jokingly citing concerns that his 'motherboard will burn because I'm downloading too much porn or whatever.' 'Besides that, I also want to have some yield on that ETH, and I don't want to be researching what each protocol is offering,' the whale told Decrypt. 'I want somebody else to do it for me. Obviously, I have to pay a premium for that… I'm happy to pay a premium for having my ETH custodied by the best in the business and having it deployed by the best in the business.' Why SharpLink? SharpLink Gaming was previously a little-known online gambling marketer, but rebranded to become an Ethereum treasury company in May. In making this move, the firm raised $425 million to purchase ETH, and Consensys CEO and Ethereum co-founder Joseph Lubin joined its board of directors. The company now holds 438,190 ETH, or $1.647 billion worth of the asset. (Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.) The SharpLink Whale believes that SBET is best positioned to manage how it acquires yield, and warns against other firms jumping on the treasury company trend. 'I'm pretty sure it's already turning into a grift,' he told Decrypt. 'A lot of times in crypto, what happens is: There's something that has a big success, you have a lot of copycats, and people think they missed out on the main one—so they try to get the copycat, and they get fucked over.' Lubin's involvement is core to the SharpLink Whale's thesis on the company. He believes that Lubin is the second-best person—only behind Ethereum co-founder Vitalik Buterin—to help the company safely custody the ETH while also outlining a sound strategy to produce yield. Yield refers to the process of earning a return from an asset. In this case, rather than simply holding or staking Ethereum, a user may choose to provide liquidity for a protocol, for example, in exchange for a percentage yield on the ETH they are providing. As such, SharpLink Whale believes most people should avoid crypto treasury copycats and only pay attention to SharpLink, as well as Michael Saylor's Bitcoin-centric Strategy. That said, he also sees potential in BitMine Immersion Technologies because of Tom Lee's involvement and his connection with Wall Street. Outside of that, the whale mostly thinks it's best to ignore emerging treasury firms, as he's not convinced they're going to outperform the aforementioned companies at acquiring yield on the assets. He also has concerns about safe custody, laughing and suggesting that an inexperienced company could click a dodgy link and lose everything. Ethereum Layer-2 Linea Reveals Token Plans, Taps SharpLink and Others for Distribution Who is SharpLink Whale? SharpLink Whale told Decrypt that he is a European man in his early 30s, currently working as a full-time trader and stay-at-home dad. He started his career in traditional finance before pivoting to crypto approximately four years ago, working a 'relatively boring' job at a DeFi company. He said that he made his initial $1 million SBET buy from the proceeds two major bets on Coinbase and Nvidia stocks that brought a 9x boost to his net worth. The SharpLink millionaire's story mirrors that of the Dogecoin Millionaire, an American man who profited millions of dollars by purchasing DOGE. However, Glauber "ProTheDoge" Contessoto famously did not sell any Dogecoin at its peak, which soon fell so hard that he lost his Dogecoin Millionaire title—though he regained it more than a year later. 'Dogecoin Millionaire' Is Now a Pepe Millionaire—And He's Stacking These Meme Coins Next The pseudonymous SharpLink millionaire refuses to fall to the same fate, and has already sold parts of his position—despite his growing social media following centering on his SBET holdings. At one point, SharpLink Whale told Decrypt, he sold his entire SBET portfolio at around $40 and bought back in once it dipped to $20. In total, the trader has realized more than $2.5 million in profit on SBET despite his current holdings being down $126,000 from when he bought back in—albeit still sizably up from the initial buy. 'You feel kind of inclined not to sell. When I sell, I could just not tell people, but I want to be straight up. But obviously, it panics a lot of people,' he told Decrypt. 'People also need to learn that you always need to make your own decisions. If I'm long SharpLink and it goes down 20%, it hurts. But it was my decision, it's fine. But if I long it purely based on some anonymous Twitter account or even friends, and then it goes down, it feels different.' Days before taking a call with Decrypt, the SharpLink millionaire started to get cold feet as he claimed he was looking to exit his position. He said that the swings in price were too much to stomach, claiming that his portfolio shifted more than $500,000 in one day. Now, he's looking to diversify his portfolio into more stable assets so he can get a better night's sleep—which he claims has been greatly disturbed since he first bought SBET. What stable assets, you may ask? Bitcoin, of course… one of the most notoriously volatile assets of all time, though the chaos has been calming lately. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hypebeast
4 hours ago
- Hypebeast
Designer Debuts Overtake Milan SS26 Schedule & US Tariffs Rattle Brands in This Week's Top Fashion News
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