The major stock markets in the United States closed mixed on Tuesday with the Dow Jones Industrial Average closing 0.29% higher as Walt Disney Company gained 1.57%. The Nasdaq 100 declined by 0.48%, with DexCom Inc. sinking by 7.09% while the S&P 500 fell 0.08% as Etsy Inc. plunged by 3.46%.
Elon Musk sold another $1.02 billion in Tesla Inc stock, amounting to 934,090 shares, according to filings to the SEC. The CEO also exercised options to buy additional 1.6 million shares in the filing.
Musk has been offloading Tesla stock since November and his target was to dispose 10% of his stake in the company in order to pay taxes and exercise his stock options.
Xiaomi wants to surpass Apple – CEO
Lei Jun, founder and CEO of Chinese electronics giant Xiaomi, said on Tuesday that the company will aim to surpass Apple and vowed to make Xiaomi the world’s biggest smartphone maker in the next three years.
“Xiaomi is formally eyeing Apple, learning from Apple, and then, will surpass Apple step by step in the future.” Lei said.