Here are today’s top trending news from the world of technology. News that we feel every tech enthusiast should know.
Elon Musk’s wealth sees a massive drop as Tesla Stock Tumbles
Elon Musk saw a significant drop in his personal wealth on account of nearly 7% drop in Tesla stocks on Tuesday. Musk’s wealth slumped by almost 5% in a single day and his personal wealth currently stands at approximately $192 Bn. This also means that Tesla and SpaceX boss has dropped out of the elite $200 Bn club. Musk was the world’s only billionaire to be part of this elite $200 club. However, with Tesla CEO’s exit, now this club has zero members. However, mind you, Musk is still the richest man in the world, according to the Bloomberg Billionaires Index.
Social media stocks lose billions after Snapchat warning
All the major social media stocks saw a massive correction on Tuesday. This was all thanks to a grim warning given by Snapchat’s parent company Snap Inc. Snap Inc warned on Tuesday due to negative signs in the American economy, the company will see a slower growth in revenue and profits in the coming quarters. Badly spooked by this warning, all social media and internet stocks saw a huge drop in their prices. Stocks of Facebook, Twitter, Pinterest and Google were down between 7% to 24% on Tuesday. Facebook’s parent company Meta itself lost $42 Bn in market cap on Tuesday.
Amazon is selling a plastic bucket for almost INR 26,000
During the last 24 hours the photo of a plastic bucket being sold on Amazon India has gone viral. The internet users are shocked by this bucket’s exuberant price tag. This bucket on Amazon costs nearly Rs 25,999. What’s even more shocking, this price has been fixed offering 28% discount, which means that the original price of this bucket is almost Rs 36,000. Meanwhile, netizens couldn’t help but have a good laugh at Amazon’s goof up. Some labelled this bucket as the world’s costliest bucket while others joked that only ambanis and adanis could afford such an expensive bucket.
Meta launches updated 3D avatar in India
Many Indian Facebook users may already be using 3D avatars, which was launched last year. Now the social media giant has launched an updated version of the 3D avatars. This means that henceforth Facebook users will get to use more expressive and customizable 3D avatars. At the same time, for the first time Meta has launched these virtual avatars on Instagram. However, Instagram users can use these 3D avatars only in Instagram stories & direct messages and not for their profile pics.
Paytm reappoints Vijay Shekar Sharma as Company’s MD & CEO
Paytm’s IPO may have proved to be disastrous. However, this hasn’t stopped the company from reposing in its current CEO and MD Vijay Shekar Sharma. Well, that’s because the company has once appointed Mr. Sharma as the CEO and MD for the period of next five years, i.e. 2027. By the way, Mr. Sharma’s task is really cut out. Probably his most important task would be to stop the decline in Paytm’s stock price, which is currently trading at almost 70% below its IPO price.