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2020 is turning out to be among the best years for US IPOs. Online gaming platform Roblox, that’s quite popular among children and preteens, filed its IPO yesterday. The total number of IPOs this year is already 396 this year, only one short of what we had in 2000. The IPO boom is not done…
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Electric vehicle startup Nikola (NKLA) gained over 15% yesterday and was trading higher in pre markets today amid speculation over its partnership with General Motors (GM). 2020 has been a roller-coaster year for Nikola. It went public through the SPAC (special purpose acquisition company) route and soon its market capitalization soared above that of Ford…
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XPeng, that listed earlier this year only, was trading sharply higher in pre markets today after posting strong sets of numbers in the third quarter. XPeng delivered 8,578 electric cars in the third quarter, a year over year increase of over 265%. The deliveries for P7, which commenced in June only, increased to 6,210 in…
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Plant-based meat company Beyond Meat was trading sharply down in pre markets today as a flurry of negative news including a massive earnings miss has hit the stock. Beyond Meat released its third quarter earnings yesterday after the close of markets. The earnings missed analysts’ estimates by a wide margin. The company’s net revenues increased…
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Indian stock markets have outperformed other emerging markets this year and Morgan Stanley expects this outperformance to continue. “We have been arguing that for this outperformance to be sustained, India needs to continue to deliver policy that lifts India’s potential growth in the eyes of market participants,” said Morgan Stanley analysts Ridham Desai, and Sheela…
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Shares of electric vehicle start-up Nikola tumbled over 19% yesterday after the surprise exit of its founder and Executive Chairman Trevor Milton. The move comes a few days after Hindenburg Research accused the company of “deception.” Nikola shares have been very volatile this year Nikola shares have been very volatile this month. The stock fell…
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TikTok has agreed to partner with Walmart and Oracle to avert the impending ban in the US. Oracle and Walmart shares were respectively trading 5.1% and 1.2% higher in pre markets today. What would the deal mean for Oracle and Walmart? Earlier this month TikTok rejected Microsoft’s bid for its US operations. This was followed…
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Cloud-computing company Snowflake is seeing strong positive momentum ahead of its initial public offering (IPO), as being backed by Berkshire Hathaway (BRK.A) – Warren Buffett’s investment vehicle – has provided a push to its credibility. Snowflake’s public offering could take place today and the company has boosted the entry price of its shares from an…
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Nikola shares that closed 11.4% higher on Monday were trading down over 5% in pre markets today amid reports that the US Securities and Exchange Commission (SEC) is investigating the company over allegations made by short seller Hindenburg Research. Last week, Hindenburg Research, which is short on Nikola stock and benefits it goes down, accused…
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US stock futures are surging more than 1% this morning on vaccine hopes and strong M&A activity during the weekend while the US dollar is flinching almost 0.3% in early forex trading activity. Futures of the Nasdaq 100 tech-heavy index are leading today’s jump gaining 148 points at 11,199 so far, accumulating a 1.4% gain,…
