An $11 billion tech-focused hedge fund scored a 52% gain by betting on Tesla and against scandal-ridden Wirecard this year, a report said

  • Coatue Management scored a 52% gain this year by betting on Tesla and against German fintech Wirecard, the Financial Times reported.
  • The $11 billion tech-focused hedge fund is run by “Tiger cub” Philippe Laffont, who previously worked at billionaire Julian Robertson’s Tiger Management.
  • Coatue held 3.1 million Tesla shares at the end of the third quarter that are now worth $1.3 billion, the FT said.
  • The fund’s performance eclipses the average 17% return gained by tech-focused hedge funds this year.
  • Visit Business Insider’s homepage for more stories.

New York-based Coatue Management has been one of the best-performing big hedge funds in 2020, scoring a gain of 52% through November. 

Coatue made its notable gain by betting on Elon Musk’s fast-rising automaker Tesla and against scandal-plagued German payments processor Wirecard, according to the Financial Times. 

The tech-focused fund makes long-short investment strategies, meaning that it buys equities that

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Investors wanted Nikola to be the next Tesla. It’s not.

Wednesday, December 2, 2020

This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe

How the next breakout star for electric vehicles veered off course.

Everyone wants to invest early in the next Tesla (TSLA), which has seen its stock skyrocket 559% this year. Tesla’s rise has been fueled by the electric vehicle company’s ability to turn a profit for five quarters in a row for the first time in its history, and its impending addition to the S&P 500.

a man standing on a stage in front of a car: Former-CEO and founder of U.S. Nikola Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy, December 2, 2019. REUTERS/Massimo Pinca

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Former-CEO and founder of U.S. Nikola Trevor Milton speaks during presentation of its new full-electric and hydrogen fuel-cell battery trucks in partnership with CNH Industrial, at an event in Turin, Italy, December 2, 2019. REUTERS/Massimo Pinca

The firm’s performance coupled with

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Tesla exec leaves to help Polymateria combat plastic crisis

Rubbish floating in Naifaru Harbour, Maldives, Indian Ocean.

Rosemary Calvert | Getty Images

LONDON — A Tesla executive has left the electric car company and joined a London start-up that’s aiming to address the world’s plastic problem with a new chemical additive.

Steven Altmann-Richer, who led public policy for U.K., Ireland and new markets at Tesla, joined London start-up Polymateria in the last few weeks as head of public affairs and regulatory strategy, after spending three-and-a-half years at the U.S. car company.

Polymateria, which has around 25 staff based out of Imperial College’s start-up incubator, has developed a “biotransformation technology” that breaks down plastic into a wax-like substance that then gets digested by microbes. It has also created a new British standard for biodegradable plastic.

“I want to help policymakers understand that this is a truly revolutionary solution which can improve the environment in their country and globally,” said Altmann-Richer,

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Elon Musk: Tesla Full Self-Driving beta to expand in two weeks

A little over a month after releasing Tesla Autopilot’s Full Self-Driving (FSD) to a small group of select drivers, Tesla is gearing up for a wider release of the software, according to the company’s CEO, Elon Musk 

Tesla has so far only released the FSD update to “expert and careful” drivers, and so a wider release creates the scary prospect of more Tesla owners experimenting with the feature on city streets. 

Autopilot has enabled lane changes on clearly marked highways, but FSD allows drivers to automatically handle city streets, traffic lights, roundabouts and street turns. 

It also offers assisted parking, the summon feature for parking lots, highway driving assistance, but the feature does not make a Tesla an autonomous car. 

Responding to a question on Twitter about a wider FSD beta, Musk said it would probably roll out in about two weeks.  

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Tesla Motors, Inc. (NASDAQ:TSLA), (VWAGY) – Tesla Owners Will Be Able To Remotely Access Autopilot Camera At Will With New Upgrade: Report

Tesla Inc (NASDAQ: TSLA) is planning a software upgrade to its in-vehicle sentry mode security system that would allow users access to a live stream from their vehicle’s autopilot cameras at any moment, Electrek reported Saturday.
What Happened: The update — said to be version 11 — is likely to arrive near the holidays, according to Electrek.

Twitter user Green, who reports on developments surrounding code, said that it appears as if “there’s going to be a livestreaming of car videos to the phone app.”

The code sleuth said that a single camera on the vehicle streams at up to 30 megabytes per minute, which according to the expert, would not take too much bandwidth for periodic checks of the camera’s feed.

In response to when the new feature might be released, Green said it seems to be in the “wings.”

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Tesla Model 3 Vs. Chevy Bolt

The base Tesla Model 3 is a great EV deal and the 2020 Chevrolet Bolt is dirt cheap by electric car standards.

The good news about the cheapest Tesla Model 3 is that it now has acceptable range. The base Model 3 back in 2017 only offered 220 miles of range, now it’s 263 miles.

And while the 2020 Chevy Bolt has always been affordable, it’s now seeing steep discounts making it one of the best EV deals in the U.S.

Very different cars:

The Model 3 is a sedan, the Bolt a compact hatchback. That’s the most glaring difference. Less obvious is the charging network: when you buy a Tesla you also get the Supercharger network. For long-distance drivers that’s almost as important as the car.

Tesla’s Autopilot, an advanced driver-assist technology that’s standard with

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Tesla Proudly Showcases Latest Cell and Battery Pack Tech While… Recruiting

Ever since the California-based electric vehicle manufacturer introduced its next-generation, in-house developed, battery cell – the 4680 – the world has been holding its breath to see if it’s real or not. Chances are the company has settled the mystery, right in front of everybody. They showcased the new cell and pack designs on the very page they’re using to recruit new talent.

Even though many still question the sanity of one top manager (a.k.a. Elon Musk), we can’t help but appreciate the strokes of genius the Tesla team manage to achieve. Seriously, what about presenting what is probably the first virtual footage of its all-new 4680 on the recruiting page of the official website?

Tesla has decided to make the “Join the Cell Team” call for good reason, as it’s looking forward to putting into action their newly introduced 4680 battery cells – named after their physical

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Tesla could widen release of ‘self-driving’ software in two weeks

(Reuters) – Tesla Inc Chief Executive Officer Elon Musk said on Friday there will probably be a wider roll out of a new “Full Self Driving” software update in two weeks.

logo: FILE PHOTO: The Tesla logo is seen at the entrance to Tesla Motors' showroom in Manhattan's Meatpacking District in New York City

FILE PHOTO: The Tesla logo is seen at the entrance to Tesla Motors’ showroom in Manhattan’s Meatpacking District in New York City

In October, Tesla released a beta, or test version, of what it calls a “Full Self Driving” software upgrade to an undisclosed number of “expert, careful” drivers.

Video: The Tesla Model X can be stolen with this hack, researcher says (FOX News)

The Tesla Model X can be stolen with this hack, researcher says



“Probably going to a wider beta in 2 weeks,” Musk said on Twitter, in a reply to a user asking if the software would be available in Minnesota.

Musk had said earlier it was planned

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Is Tesla really worth $500 billion?

Elon Musk holding a sign

© Getty Images

It was the week when Elon Musk soared past Bill Gates to become the world’s second richest person, as Tesla’s value topped $500bn.

On Tech Tent, we ask just why investors think the electric car company is worth so much more than it was a year ago.

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At the beginning of 2020, Tesla was valued by the stock market at around $80bn – and even then, sceptics thought that was a high price for a business that was barely profitable.

Throughout the year its shares have soared, and its valuation climbed above $500bn on the news that the business was going to be included in the S&P 500 index of leading companies.

Just to put that into context: Tesla is now worth more

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Hackers could steal a Tesla Model X in minutes, security researchers say

It was the latest security experiment from the COSIC group at the University of Leuven in Belgium, which had previously found a similar vulnerability with Tesla’s Model S luxury sedan, where a key fob was also to blame.

The researchers said they were able to break into the SUV, which starts at $80,000, using a few hundred dollars’ worth of equipment.

Researchers noted that process took about 90 seconds.

The researchers, who informed the company of their findings on Aug. 17, said Tesla is rolling out an update intended to address the issue. An over-the-air software update is being pushed to the key fobs, they said, which will better lock them down.

Wired was first to report on the vulnerability. Tesla did not respond to a request for comment.

Lennert Wouters, a PhD student at the COSIC research group, said in an email that the problem is not necessarily unique

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