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<ul class="summary-list"><li>The world's richest people saw huge wealth gains as stocks rallied after the election on Wednesday.</li><li>The biggest gainers include Elon Musk, Larry Ellison, and Warren Buffett. </li></ul>The world's richest people saw huge gains in their net worth on Wednesday as markets cheered the outcome of the 2024 election. Elon Musk, Larry Ellison, Warren Buffett, Jeff Bezos, and Jensen Huang saw their wealth soar on Wednesday, propelled by huge stock gains after former President Donald Trump sailed to victory in the presidential election.Together, the billionaires gained over $55 billion by the time the market closed on Wednesday. Their gains were <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">driven by euphoric stock investors</a>, who see a coming era of less regulation and lower taxes driving higher corporate profits. These were the top net-worth gainers on Wednesday, according to <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-win-elon-musk-election-tsla-2024-11?_gl=1*1nvwem2*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDkyMzg4My4zNzMuMS4xNzMwOTI0OTcxLjYwLjAuMA..">Forbes' real-time billionaires list</a>. <h2 id="c3a32e82-837e-4695-818a-c29a082da794">1. Elon Musk</h2>Daily wealth gain: $20.9 billionNet worth: $285.6 billionElon Musk, the CEO of Tesla, saw his wealth surge by $20.9 billion on Wednesday, further solidifying his spot as the highest net-worth individual on the planet with nearly $286 billion.The billionaire's wealth is tied to his stake in his many companies, primarily Tesla and SpaceX. His gain on Wednesday came as <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-win-elon-musk-election-tsla-2024-11?_gl=1*1nvwem2*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMDkyMzg4My4zNzMuMS4xNzMwOTI0OTcxLjYwLjAuMA..">Tesla stock rose almost 15%</a>, even as other EV stocks sold off amid fears Trump will pull back on Biden-era rebates and tax incentives. Traders are betting both Musk and his company will benefit from close ties to Trump as the former president retakes office."In our view, TSLA and CEO Elon Musk are perhaps the biggest winners from the election result," CFRA Research senior analyst Garrett Nelson said in a Wednesday note.<h2 id="4570c782-d339-42a6-bf95-c9a58879f17b">2. Larry Ellison</h2>Daily wealth gain: $11.7 billionNet worth: $220.8 billionLarry Ellison, the founder and chief technology officer of Oracle, gained $11.2 billion as Oracle shares rallied with the broader tech sector. The stock ended the day 5.5% higher. That gain brings Ellison's total net worth to over $220 billion, putting him third on the list of the richest people in the world. <h2 id="e1c823e7-38bc-489b-ab61-69729fbea3f9">3. Warren Buffett</h2>Daily wealth gain: $7.6 billionNet worth: $147.4 billionFamed investor Warren Buffett also saw $7.2 billion added to his net worth on Wednesday, bringing his total wealth to $147 billion.The famed investor is the is the chairman and CEO of conglomerate Berkshire Hathaway, which saw its shares soar 5.55% in the session. <h2 id="a3df8438-ae7f-4210-aaa8-743d0c25aa87">4. Jeff Bezos</h2>Daily wealth gain: $7 billionNet worth: $223.5 billionJeff Bezos added $5.5 billion to his net-worth, bringing the total to $222 billion. That amount puts him second only to Musk on the list of the world's wealthiest individuals. Bezo's retail powerhouse Amazon saw notable moves on Wednesday, up almost 4% to trade at an all-time high of $207 per share.<h2 id="50d93be9-206d-45c9-97a9-d37f99559cff">5. Jensen Huang</h2>Daily wealth gain: $4.9 billionNet worth: $126.9 billionJensen Huang, CEO of Nvidia, gained about $5.3 billion to bring his total wealth to $127.4 billion on Wednesday as shares of his chip giant rose to a record high. Nvidia stock gained 4% on Wednesday amid a wide-rangin tech rally that pushed the Nasdaq up 3%. The gain further solidified the chip maker's position as the most valuable company in the world after it overtook Apple on Tuesday. The sector's gains come even as Trump has said he could curtail the Chips Act, which pledges to funnel billions into supporting US chip production.Trump has also said, however, that he prefers a "hands-off" approach to AI, which would be in line with his campaign's promises of less regulation for corporations.

These 5 billionaires were the biggest net-worth winners today as stocks surged

<ul class="summary-list"><li>The stock market has surged since October 2022, with major indexes posting strong gains.</li><li>With the bull market in stocks now two years old, investors are wondering how long the rally can last.</li></ul>The stock market bottomed on October 12, 2022, marking two years since the start of the ongoing bull rally. Since then, the <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones Industrial Average</a> have posted impressive gains of 88%, 62%, and 46%, respectively.A <a target="_blank" class="" href="https://www.businessinsider.com/recession-outlook-economy-goldman-unemployment-jobs-report-nonfarm-payrolls-rates-2024-10">resilient job market,</a> lower inflation, and continued corporate earnings growth helped push the stock market higher over the past two years.So, what's in store for the bull market from here?Here's what market experts told Business Insider about what history says about the bull market's future as it enters its third year. <h2 id="87e38ea9-e2ca-4929-9a94-031a99caf946">Freedom Capital Markets, Jay Woods</h2>Chief global strategist Jay Woods of Freedom Capital Markets said what's most telling about the current bull market is that very few believed in it in the beginning."I think it's important to preface it with when it started, no one believed it. They just thought it was a bear market rally. And then they doubted that it had legs, and then it was just seven stocks," Woods told Business Insider.He added: "And now, all of a sudden, it is powerful. And I think the momentum is continuing. You got the rate cycle, you got broadening out, we have wind at our sails, and this bull market should last at least another 12, maybe 18 months."Woods said he is encouraged that market leadership is diverse and no longer concentrated in mega-cap technology companies. A recent example is the rotation into utility stocks, which have surged on the AI power demand narrative.A common Wall Street expression is "rotation is the lifeblood of a bull market," and that appears to be playing out."It's good to look back and celebrate two years, but it still feels like the party is just beginning," Woods said.<h2 id="2275e95f-cb77-497d-97ee-938609a82fa6">Carson Group, Ryan Detrick</h2>According to Carson Group chief market strategist Ryan Detrick, the bull market in stocks is still young."Although many might think this bull market has gone too far and is getting old, that isn't the case at all. If you look back at history, bull markets last more than five years on average, making this one at two years actually young," Detrick told Business Insider.Detrick said that while he sees more gains ahead, he doesn't expect another big year for returns like in 2023 and so far in 2024, with the S&amp;P 500 delivering gains of 24% and 22%, respectively.Instead, Detrick said that the average gain of a bull market in year three is about 8%, which is right around the average annual return for stocks."All in all, we expect stocks to be up at least low double digits over the next year," Detrick said.<h2 id="71148928-7cd9-413b-8146-f7a06f2d41cb">Baird, Ross Mayfield</h2>Baird investment strategist Ross Mayfield said the third year of this current bull rally could deliver stronger returns than history suggests because the first two years of the bull delivered underwhelming performance relative to history."The first two years of this bull market have been somewhat muted vs. historical standards, so there is ample opportunity for outperformance of the typical year 3 performance," Mayfield told Business Insider.Mayfield also echoed Detrick's sentiment that the average bull market is over five years long, so he thinks "there is plenty of room to run.""It would not be surprising if year three of the bull market outperformed the typical year three given the rates backdrop, expected earnings growth, and tepid investor sentiment," Mayfield said.<h2 id="d92eafcb-b184-4d6f-927a-142734817da9">US Bank Asset Management, Rob Haworth</h2>Investment strategist Rob Haworth of US Bank Asset Management believes the S&amp;P 500 could surge to 6,480 in its third year of the bull market, representing potential upside of 12%.Haworth's bullish view is backed by what really drives stock prices higher: earnings growth."The key forward metric for market returns remains the pace of earnings growth," Haworth told Business Insider. "As we look ahead, we still see a constructive path."Haworth expects the S&amp;P 500 to deliver $270 in earnings per share next year, representing about 13% growth from 2024 consensus levels."Lower interest rates from the Federal Reserve and soft or no-landing economic scenarios are helping lift growth into next year, supporting further equity market gains," Haworth said.

The stock market's bull rally is 2 years old. Here's what tends to happen next. 

<ul class="summary-list"><li>The Villa Vie Odyssey was supposed to set sail on a global cruise from Belfast in May.</li><li>Problems with the ship mean it's been docked there for the past three months.</li></ul>A <a target="_blank" class="" href="https://www.businessinsider.com/inside-cabin-residential-cruise-ship-villa-vie-photos-retired-couple-2024-8">residential cruise ship</a> that was supposed to travel around the world has been stuck in Northern Ireland for the past three months.Business Insider previously reported that the <a target="_blank" class="" href="https://www.businessinsider.com/villa-vie-couple-sold-business-never-ending-residential-cruise-2024-8">Villa Vie Odyssey</a> was initially set to sail from Belfast in May. The ship has been docked there because it needed updating, as it's more than 30 years old. It was previously called the Braemar and operated by Fred Olsen Cruise Lines.Villa Vie has said <a target="_blank" rel=" nofollow" href="https://www.youtube.com/watch?v=UDyF93CvpPA">issues</a> such as the aging ship's rudder stocks and recertification have since delayed its departure by three months.The 509 cabins cost at least $100,000. The Odyssey is due to sail around the world every <a target="_blank" class="" href="https://www.businessinsider.com/residential-cruise-startup-condos-at-sea-photos-2023-10">three-and-a-half years</a>, visiting 147 countries and 425 destinations en route.But while the ship is stuck in Belfast, passengers can go on board during the day but not stay on it overnight.The cruise line's CEO, Mikael Petterson, previously told BI that Villa Vie provided residents with a shuttle to and from the ship, as well as food, drinks, excursions, and lodging — or a per diem payment for those who "choose to do their own thing."One couple on the ship, Johan Bodin and Lanette Canen, previously told BI they've traveled elsewhere during the delay, to the likes of Italy, Croatia, Slovenia, and Sweden.The couple said <a target="_blank" class="" href="https://businessinsider.com/villa-vie-residential-cruise-ship-odyssey-photos-2023-12">Villa Vie</a> had also sent them on various excursions, including a trip to the Canary Islands and a cruise to the Norwegian fjords."We understand there are hiccups," Bodin told BI. "They're schmoozing us a bit to keep us happy. They're almost being too serviced-minded — I don't need to be pampered all the time."Holly Hennessey, from Florida, told BBC News: "We can have all of our meals and they even have movies and trivia entertainment, almost like cruising except we're at the dock."<div type="image" title="Composite of the Theriacs' cabin with desk and bed." height="1080" width="1440" msid="112897090" hostid="261" sizebytes="119750"></div>Angela and Stephen Theriac told the outlet they've spent the delay traveling around Spain by train, visiting Greenland, and taking weekend trips to England."We keep teasing we will apply for residency here in Belfast," Angela Theriac told the BBC."We have eaten in every restaurant and had a Guinness in every pub," her husband added. "It is just all part of our adventure."Angela previously told BI they'd started decorating their floating condo with "personal touches", adding: "Our room is our bedroom, and the ship is our home."Petterson, the CEO and founder, previously told BI in an August 19 email that Villa Vie Odyssey would embark from Belfast "any day now."Villa Vie did not immediately respond to a request for comment from Business Insider, sent outside US working hours.

A residential cruise ship that's supposed to sail the world for 3 years has been stuck in Northern Ireland for 3 months

<ul class="summary-list"><li>US stocks ended higher Friday, with the S&amp;P 500 jumping past the key milestone of 5,000. </li><li>Revised CPI data released Friday showed inflation cooled in December more than initially reported. </li></ul>US stocks were up on Friday with the S&amp;P 500 ending the day past the key psychological mark of 5,000.The benchmark index punched through 5,000 first on Thursday, closing the day just shy at 4,997. After <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-stocks-inflation-data-revision-2024-2">revised consumer price index data</a> released Friday that showed inflation cooled more than initially reported in December, the <a href="https://www.cnbc.com/quotes/.SPX">index</a> pushed to new highs, climbing as high as 5,029 during the trading day.Stocks capped off the week with the fifth straight weekly gain. "What does 5000 mean? On the surface, not a whole lot, we know that. But psychologically is really what matters," Ryan Detrick, chief market strategist from the Carson Group, said on Bloomberg TV on Friday. Usually, in the six months after psychological levels are breached, the S&amp;P 500 has never dipped lower, Detrick said. If anything, it provides a fresh catalyst for stocks to continue rallying"We think this is a pretty strong sign that we're still in a bull market, we've said that for a while, and get on the ride," he said. "It's a fun ride."Here's where US indexes stood at the closing bell at 4:00 p.m. on Friday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,026.61, up 0.57% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 38,671.69, down 0.14%</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 15,990.66, up 1.25% </li></ul>Here's what else is going on:<ul><li><a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-forecast-valuation-chinese-china-market-economy-crash-2024-2?mrfhud=true">Nvidia is now worth</a> as much as the whole Chinese stock market.</li><li>The commercial real estate crisis will <a href="https://www.businessinsider.com/rate-cuts-fed-real-estate-crisis-regional-bank-systemic-risk-2024-2?mrfhud=true">prompt the Fed's first rate cut</a> in May, top economist says.</li><li>Vladimir <a href="https://markets.businessinsider.com/news/currencies/vladimir-putin-us-dollar-tucker-carlson-yuan-ruble-reserve-currency-2024-2?mrfhud=true">Putin takes aim at the US dollar's dominant position</a> as the world's reserve currency.</li><li><a href="https://www.businessinsider.com/china-economy-crash-real-estate-property-stock-market-foreign-investors-2024-2?mrfhud=true">China turmoil poses a risk to the Magnificent 7</a>, Jeremy Grantham's GMO says.</li><li>Wharton professor Jeremy Siegel says the <a href="https://markets.businessinsider.com/news/stocks/jeremy-siegel-stock-market-investing-outlook-cheap-small-caps-valuations-2024-2?mrfhud=true">stock market still has 8% upside</a> — and highlights where investors should put their money to capitalize.</li><li>Bitcoin's sudden rebound keeps the <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-rally-cryptocurrency-spot-etfs-forecast-inflows-standard-chartered-2024-2?mrfhud=true">$100,000 threshold in reach by year-end</a>, Standard Chartered says</li></ul>In commodities, bonds, and crypto: <ul><li>Oil prices rose, with<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets"> West Texas Intermediate</a> crude up 0.38% to $76.51 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, was also up by 0.34% to $81.91 a barrel.</li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> slipped 0.38% to $2,040.10 per ounce.</li><li>The<a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets"> 10-year Treasury yield</a> ticked slightly higher to 4.177%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> climbed 4.75% to $47,680.75.</li></ul>

US stocks rise as S&P 500 sails past 5,000, boosted by cooling inflation data

<ul class="summary-list"><li>Airbus stock fell 11% after cutting 2023 delivery targets due to supply chain issues.</li><li>It spells problems for airlines as Boeing has also reduced production.</li></ul><a target="_blank" href="https://www.businessinsider.com/airbus-struggling-outsider-beating-boeing-737-max-a320neo-2024-1">Airbus</a> stock dropped as much as 11% on Tuesday after it reduced delivery targets, citing supply chain issues.The European planemaker <a target="_blank" href="https://www.airbus.com/en/newsroom/press-releases/2024-06-airbus-provides-2024-guidance-update">announced</a> Monday that it intends to deliver around 770 commercial jets this year, down from 800.It also curbed plans to increase production of the <a target="_blank" href="https://www.businessinsider.com/flying-on-spirit-airlines-newest-jet-airbus-a320neo-review-photos-2020-12">A320neo</a> family. Airbus had aimed to increase output from 50 to 75 a month by 2026, but the target has now been pushed back a year.The A320neo family has outsold the rival <a target="_blank" href="https://www.businessinsider.com/boeing-737-max-timeline-history-full-details-2019-9">Boeing 737 Max</a> since 2019, when the latter model was grounded following two crashes in which 346 people died.Further problems at Boeing arose in January, when a door plug came off an <a target="_blank" href="https://www.businessinsider.com/alaska-airlines-blowout-passenger-lost-shoes-and-socks-to-gaping-hole-2024-3">Alaska Airlines 737 Max</a> in midair.In the wake of that incident, Boeing's biggest customer, United Airlines, spoke of <a target="_blank" href="https://www.businessinsider.com/united-ryanair-execs-frustrated-at-boeing-plane-delivery-delays-2024-2">plans to switch some orders to Airbus jets</a>.However, Airbus has seemingly struggled to meet the increased demand.Overall, it marks further problems for airline customers, because Boeing has also reduced its output amid its ongoing crisis.The Federal Aviation Administration has <a target="_blank" href="https://www.businessinsider.com/boeing-737-max-plane-safety-faa-production-timeline-2024-6">capped production of 737 Max jets</a> as a result of the Alaska Airlines blowout. Boeing has also slowed production of other models as it works to focus on quality control — sparking a <a target="_blank" href="https://www.businessinsider.com/lufthansa-ceo-calls-boeing-delivery-delays-extremely-annoying-2024-5">backlash from airline bosses</a>.In a press release, Airbus said its commercial aircraft division is "facing persistent specific supply chain issues mainly in engines, aerostructures, and cabin equipment.""We are facing headwinds right now; we have to bite the bullet," CEO Guillaume Faury told analysts on a call, per <a target="_blank" href="https://www.reuters.com/business/aerospace-defense/airbus-cuts-delivery-target-delays-production-goal-2024-06-24/">Reuters</a>.Reuters reported that Faury said engine supplies for the A320neo family had deteriorated "significantly" in recent months.One of the two engine options is made by <a target="_blank" href="https://www.businessinsider.com/travel-disruption-likely-as-airbus-jets-undergo-engine-inspection-2023-7">Pratt &amp; Whitney</a>, which last year announced it had discovered a manufacturing defect that would result in hundreds of planes being grounded for inspections.According to Reuters, Faury also pointed to uncertainty around supplier <a target="_blank" href="https://www.businessinsider.com/boeing-supplier-spirit-aerosystems-scrutiny-over-alaska-blowout-quality-control-2024-1">Spirit Aerosystems</a>. It's expected to be carved up with parts sold to both Boeing and Airbus.Airbus' problems also extend to its space division, where it announced charges of 900 million euros ($965 million). Its guidance update said it would "evaluate all strategic options" including potential restructuring and M&amp;A options.

Airbus may have benefited from Boeing's struggles, but it isn't smooth sailing for the rival aviation giant

<ul class="summary-list"><li>UK aircraft carriers failed twice in a row to play their part in NATO exercises.</li><li>First HMS Queen Elizabeth broke down, then its replacement also didn't launch as scheduled.</li></ul>A UK Royal Navy aircraft carrier canceled its launch to join a NATO exercise on Sunday, the second similar failure in a week.A UK carrier was meant to be a centerpiece of <a target="_blank" href="https://www.businessinsider.com/china-defense-ministry-calls-nato-walking-war-machine-2024-1?r=US&amp;IR=T">NATO's Steadfast Defender exercises</a> taking place off the coast of Norway.Its twin, modern carriers cost some $3.7 billion each. They are among the newest in the world and a clear demonstration of the UK's aspiration to be a first-rate military.But neither of them could make it — the first candidate, HMS Queen Elizabeth, broke down on the eve of sailing.Its replacement, HMS Prince of Wales, was meant to sail on Sunday, but the launch was abruptly pulled.<a target="_blank" href="https://news.sky.com/story/departure-of-3bn-royal-navy-aircraft-carrier-halted-a-week-after-cancelled-voyage-of-sister-ship-13069282">Sky News reported </a>that crowds had gathered to watch the vessel depart, only to find out that it wouldn't.It set sail the next day instead from its home harbor in Portsmouth, England.Although it only pushed the schedule back one day, the unexplained delay was another embarrassment for the Royal Navy after <a target="_blank" href="https://www.businessinsider.com/uk-navy-ships-breaking-down-britain-struggling-hms-queen-elizabeth-2024-2?r=US&amp;IR=T">HMS Queen Elizabeth</a> pulled out of the exercise, citing a problem with its starboard propeller shaft.The Prince of Wales itself underwent months of repairs after breaking down in 2022.The UK Ministry of Defence did not give a reason for the delayed departure, saying in a statement that the aircraft carrier was "due to sail from Portsmouth soon, subject to suitable tide and weather conditions.From protecting <a target="_blank" href="https://www.businessinsider.com/uk-missiles-shoot-down-houthi-threats-major-boost-new-warheads-2024-1?r=US&amp;IR=T">vessels against Houthi militants </a>in the Red Sea to deterring Russian and Chinese aggression, the Royal Navy is seeking a central role in conflict flashpoints across the world.But critics say that that long-standing government underfunding has impacted the Royal Navy's combat readiness.Admiral Lord West, former First Sea Lord of the Royal Navy, <a target="_blank" href="https://www.businessinsider.com/china-touts-advanced-aircraft-carrier-fujian-uk-navy-malfunction-2024-2?r=US&amp;IR=T">told Business Insider last week </a>the cuts had "had a serious impact" on the navy's ability to respond to global threats.He listed a series of problems, including an aging fleet of ballistic missile submarines, "precariously low" weapon stocks and engineering stores, and a gaping lack of personnel. He also said the Royal Navy doesn't have enough ships, particularly destroyers and frigates.According to reports, the UK's aircraft carriers will be dependent on foreign allies for support vessels during the Nato exercises.HMS <a target="_blank" href="https://www.royalnavy.mod.uk/equipment/ships/queen-elizabeth-class">Queen Elizabeth entered service </a>in 2017, and the Prince of Wales in 2019, and each cost around $3.7 billion.February 12, 2024, 9.25 a.m. ET: This story was updated after HMS Prince of Wales left port.

Britain's $3.7B aircraft carriers were meant to take a crowning role in a major NATO exercise &mdash; then failed to set sail, twice

<ul class="summary-list"><li>Tesla bearishness is overdone, Wedbush Securities' Dan Ives said Wednesday.</li><li>The board should do three things to get the stock moving up again, Ives wrote. </li></ul>The bearishness around Tesla's stock is overdone, and its stock could boomerang up 77% in the next 12 months."We believe the stock is way overshooting on the negative front as the demand story for Tesla is more in stabilization mode heading to the rest of 2024, price cuts are moderating, battery costs/production is showing strong cost efficiencies, and a Model 2 (sub $30k vehicle) is on the roadmap for the next year," analysts led by tech bull Dan Ives wrote.It's not all smooth sailing for Tesla in the short term, given the lackluster demand for electric vehicles, an <a href="https://www.businessinsider.com/teslas-gigafactory-back-business-after-arson-attack-2024-3">arson attack</a> that temporarily shut down a Berlin factory, and uproar around <a href="https://www.businessinsider.com/judge-strikes-down-elon-musk-tesla-compensation-pay-package-2024-1">Musk's compensation package</a> — a Delaware judge voided the CEO's $55 million pay package in January, siding with a shareholder who argued it was excessive. Still, Ives reiterated that he sees the stock price hitting $315 in the next 12 months. Tesla closed at $177.54 on Tuesday.In order to weather the <a href="https://www.businessinsider.com/tesla-stock-price-elon-musk-mcdonalds-disney-ev-market-cap-2024-3">storm over the stock</a> and kickstart the rebound, Ives said there are three things Tesla's board can do. First, they should draw up a new compensation package for Musk that's bigger than the one he got in 2018, which shareholders can vote on in their meeting in May. Second, the board's new pay package should lift Musk's voting share up to 25% — a desire Musk <a href="https://www.businessinsider.com/elon-musk-tesla-board-ultimatum-2024-1">has expressed</a> — and have shareholders vote on that in May as well. Finally, Ives wrote, the company should move its state of incorporation to Texas, where the company is headquartered. That would pave the way for the board to get the new compensation package approved, turning the Delaware ruling into "noise." It is a move Musk <a href="https://www.businessinsider.com/elon-musk-start-shifting-tesla-state-incorporation-to-texas-2024-2">has voiced support for</a> since the court decision. Those changes, along with an improving outlook on production and price cuts, would bode well for the EV maker."Now is NOT the time to throw in the towel on Tesla...we have a high level of conviction at current levels despite the dark black clouds forming," Ives wrote.

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