Strategy suffers billions in losses, Netflix reportedly bids on Warner Bros Discovery

Group 1: Cryptocurrency Market - Bitcoin experienced its worst day since March, leading to a significant sell-off and a 60% decline in shares for Strategy since summer highs, with a potential loss of $5.5 billion if Bitcoin prices do not recover [3][4] - Strategy's popular ETFs have fallen over 80% this year, prompting the company to create a $1.4 billion reserve for dividend and interest payments [4] Group 2: Corporate Developments - Apple has replaced its AI chief, with Amar Subramana taking over from John Jiang Andrea, as the company has been lagging in the AI race compared to competitors like Samsung [6][7] - Warner Brothers Discovery is in the process of receiving bids, including a mostly cash offer from Netflix, with Paramount's $60 billion cash offer already rejected [5][6] Group 3: Automotive Industry - US auto sales data for November is expected to show a slight increase to 15.43 million, indicating steady consumer demand for new vehicles [9] - Tesla is facing criticism for being overvalued, with short seller Michael Bur highlighting concerns over dilution from Musk's pay package and competition affecting market share [11][12][16] Group 4: Economic Indicators - The ISM manufacturing PMI for November showed a contraction for the ninth consecutive month, coming in at 48.2, below the expected 48.8, indicating a pullback in new orders and employment [43][44] - Manufacturing sectors are experiencing strong contraction, with GDP numbers reflecting ongoing challenges due to tariff uncertainties and rising costs [48][50]