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QuantumScape stock fell almost 11% yesterday as the Scorpion short-sell report continues to bite the solid-state battery startup company. In its report Scorpion accused QuantumScape of fraud and compared it to now bust healthcare company Theranos. To be sure, this is not the first time that a short seller has accused a company in the…
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Churchill Capital IV (CCIV) stock fell 7.4% yesterday and is now down almost 70% from its 52-week week highs. The stock has been on a free fall ever since it announced a merger with Lucid Motors. CCIV SPAC (special purpose acquisition company) stock had surged to almost $65 or a 550% premium before the merger…
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Chinese electric vehicle Li Auto was trading lower in US premarket trading today after the company announced plans to raise capital by issuing convertible debt. The company would issue convertible senior notes due 2028 to raise %750 million. It plans to grant the initial purchasers in the Notes an option to purchase an additional US$112.5…
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NIO stock was trading sharply higher in US premarket trading today after it released its March deliveries which were ahead of its guidance. Earlier this month, NIO had said that it would halt production for five days due to chip shortage. Automakers including Ford, General Motors, and Volvo also had to curtail some production as…
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Clean energy stocks jumped yesterday following a White House update on President Joe Biden’s proposed infrastructure bill, which includes financial aid, tax credits, and funds for research and development activities for initiatives in the renewable energy industry. According to administration officials, Biden’s proposal would result in a $2 trillion infrastructure spending bill that seeks to…
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Nike stock fell 3.4% yesterday amid boycott calls in China. However, the stock was trading higher in US premarket trading today. How can investors play the stock? Nike is facing boycott calls in China over its previous comments over forced labor in China’s Xinjiang region. In a previous release, the company had said “Nike is…
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Over the last six months, there has been a lot of chatter over the sectoral shift from growth to value and cyclical stocks. Jim Cramer has now thrown his hat into the ring and sees some cyclical stocks as a good buy. Most cyclical stocks underperformed in 2020 which was not surprising. The fortunes of…
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Chinese electric vehicle market XPeng Motors has secured a $76.9 million investment from an arm of the Chinese government as the electric vehicle race heats up in the country. Guangdong Yuecai Investment Holdings Co., Ltd, the investment arm of the Guangdong provincial government has invested money into XPeng. “The investment recognizes XPeng’s leadership position in…
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Tech stocks are about to close their third consecutive losing week, as reflected by the Nasdaq tech-heavy index, with rising US Treasury yields possibly prompting an adjustment in valuations. So far this week, the Nasdaq has dropped 3.45%, following a sharper 4.9% plunge seen by the index the week before – comprised of some of…
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Zoom Video Communication stock was trading higher in US premarket trading today after its fiscal fourth quarter 2021 earnings and guidance surpassed estimates. Zoom released its fiscal fourth quarter earnings yesterday after the close of markets. It reported revenues of $882.5 million in the three month period ending 31 January 2021. The revenues increased 369%…
