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Snacks / Monday, October 28, 2019

New Tesla collector's item... Profits. Shares surged 27% last week after Tesla revealed it made more money than it spent over the last 3 months (Elon's still never pulled that off for a whole year). Plus, that battery-producing gigafactory in China is ahead of schedule, and so is the new Model Y crossover.

Survivor... WeWork stock isn't publicly-traded since it canceled that IPO. At least it's not bankrupt. The injured unicorn that loses $219K each hour was weeks from running out of cash — then SoftBank (a Japanese fund that's the top investor in WeWork) bailed it out with billions of new money. Ex-CEO Adam Neuman walks away with $1.7B, yet employees' options are nearly worthless. If you're keeping score, WeWork's valuation fell from $47B to $8B and now SoftBank owns 80% of it — but it's still in business.

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