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Facebook shares closed 1.9% lower yesterday in line with the fall in the Nasdaq Index. The Federal Trade Commission (FTC) and a group of 48 state attorneys general have filed two lawsuits accusing it of monopoly and calling for a break-up of the social media giant. To be sure, lawmakers have been uncomfortable with Big…
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GameStop stock was trading sharply lower in pre markets today after its earnings release failed to cheer markets. While the company posted a narrower than expected loss, its revenues missed estimates. It also announced a share issuance plan to raise capital. GameStop released its fiscal third quarter 2020 earnings for the quarter ended October 31…
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While electric vehicle stocks have been red hot in 2020, there has been some selling pressure recently. Workhorse stock is falling sharply in the US premarket today after the USPS (United States Postal Service) said that it is delaying a major contract in which Workhorse was a major contender. The USPS was expected to announce…
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Today China released its PMI (purchasing managers’ index) data for November which was better than expected. However, debt defaults at Chinese companies have been on a rise this year. China’s National Bureau of Statistics today released the official November PMI data. The official PMI was 52.1 in November which was better than the 51.5 that…
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We’re now approaching the end of 2020 which has been a volatile year for US stock markets. After plunging in February and March, US markets have not only recovered but scaled new highs. Now, Barclays has come up with the stocks that it forecasts could deliver higher returns in 2021. US stock markets in 2020…
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Startup electric vehicle company Fisker surged almost 37% yesterday becoming the latest stock to join the rally in electric vehicle stocks. Fisker listed on October 30 this year and began trading at just under $9. Based on yesterday’s closing price of $21.86, Fisker stock has more than doubled since its listing. Electric vehicle stocks Fisker…
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Nikola stock, which gained over 17% in regular session yesterday was trading sharply lower in pre markets today as the company failed to reassure investors that its partnership with General Motors (GM) that was announced earlier this year would go ahead as planned. Nikola stock There are two concerns weighing on Nikola stock. The first…
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Renewable energy stocks have been on a fire this year. Yesterday, FuelCell Energy (FCEL) stock soared over 54% and opened higher today also. To be sure, the rise is not limited to FuelCell Energy only. Tesla soared 6.5% yesterday to a new record high. Tesla stock is up sharply this month after the news that…
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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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NIO stock was trading lower in pre markets today even as the company posted better than expected third quarter earnings and gave better than expected guidance. NIO has been probably the biggest turnaround story of 2020. In the first quarter, many analysts predicted that the company was headed for bankruptcy. The fears were not unfounded….
