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On May 16th, Bridgewater Associates, the worlds largest hedge fund, released its Q1 2023 13F report on its US stock holdings as of the end of March. The report shows that Bridgewater established new positions in 214 stocks, increased its holdings in 292 stocks, liquidated 261 stocks, and reduced its holdings in 487 stocks during the first quarter. Bridgewater significantly increased its holdings in chip stocks such as Nvidia (NVDA.O), Broadcom (AVGO.O), and Micron Technology (MU.O) during the first quarter, while liquidating its holdings in enterprise software stocks such as Salesforce (CRM.N) and ServiceNow (NOW.N), and reducing its holdings in Adobe (ADBE.O). As of the end of Q1, Bridgewaters US stock holdings were valued at $22.4 billion, compared to $27.4 billion in the previous quarter. Specifically, Bridgewater increased its holdings in Nvidia by 827,800 shares, raising its stake from 2.63% at the end of last year to 3.65%; it increased its holdings in Broadcom by 670,000 shares, raising its stake from 1.47% to 2.54%; and it increased its holdings in Micron Technology by 586,000 shares, raising its stake from 0.93% to 2.23%. In addition, Bridgewater initiated its first position in TSMC with 1.077 million shares, which accounted for 1.62% of its portfolio as of the end of the first quarter.On May 16, US President Trump posted on social media that the US military and the Nigerian armed forces carried out a joint operation that evening to "eliminate" Abu Bilal Minuki, the number two leader of the extremist group "Islamic State".US President Trump: Abu-Bilal al-Minuki, the second-in-command of the Islamic State extremist group, has been eliminated. The operation was carried out jointly by the US military and the Nigerian armed forces.According to the official measurement of the China Earthquake Networks Center, a magnitude 2.3 earthquake occurred at 11:12 on May 16 in Weichang County, Chengde City, Hebei Province (42.40 degrees north latitude, 117.37 degrees east longitude), with a focal depth of 10 kilometers.Market news: SpaceX shareholders approve 5-for-1 stock split.

Tesla attempts to repeal Louisiana's ban on direct car sales

Skylar Williams

Aug 30, 2022 10:58

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Tesla Inc. (NASDAQ:TSLA) has filed a lawsuit contesting the state of Louisiana's refusal to let the company sell vehicles directly to consumers, arguing that the state's move is protectionist and anticompetitive.


This case is the most current effort to overturn direct sales bans in some states against the electric vehicle maker, who circumvented traditional car dealerships. Customers in these states must travel to neighboring states in order to purchase Tesla vehicles.


Tesla asserted that Louisiana officials violated state and federal antitrust laws by barring direct sales since 2017 and attempted to restrict leasing and servicing of the company's vehicles in the state.


The case, which was filed on Friday in the U.S. District Court for the Eastern District of Louisiana, alleges that "protectionist, anti-competitive, and ineffective state regulation excessively restricts the freedom of Louisiana consumers."


Tesla alleged that Louisiana dealers, the dealer association, and several Motor Vehicle Commission members engaged in an "illegal conspiracy" to prohibit the firm from conducting business in the state.


Tesla sued Michigan in 2016 over the state's restriction on direct sales and reached a settlement with the state in 2020 allowing Tesla's subsidiary to service vehicles in Michigan.

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