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Chinese EV maker NIO has announced that CYVN Holdings L.L.C., an investment vehicle majority owned by the Abu Dhabi Government would invest $738.5 million in the company by purchasing newly issued shares. Like fellow startup EV companies, NIO is battling perennial losses and cash burn and needs funds to keep its cash-guzzling operations running. UAE…
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Apple stock (NYSE: AAPL) hit an all-time closing high yesterday and its market cap is now a tad short of $3 trillion. While some analysts see the rally as backed by fundamentals, UBS downgraded the stock saying it sees tepid demand for iPhones. Apple’s market cap hit $3 trillion on the first trading day of…
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Last week, speaking to BBC Radio in an interview broadcast, Palantir CEO Alex Karp hit out at those who are calling for a pause on AI saying that they are doing so because they still don’t have a product ready. Karp said that he believes that “many of the people asking for a pause, are…
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EV (electric vehicle) giant Tesla (NYSE: TSLA) held its 2023 annual shareholder meeting yesterday. The stock is down 50% since the last meeting which was held in August. Here are the key takeaways from the event. Tesla shareholders re-elected Robyn Denholm as the chairman and Elon Musk as the CEO. They also elected former Chief…
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Moomoo is a California-based trading platform. The broker offers commission-free trading to US investors and there are no inactivity costs either, which is a major benefit. The platform has numerous analytical tools, facilitates short selling, and is accessible via a cell phone app as well We found the account opening process to be fast and…
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Apple (NYSE: AAPL) would release its earnings for its fiscal second quarter of 2023 on Thursday after the close of markets. It’s been a dull earnings season for FAANG peers so far and only Meta Platforms managed to please markets with its quarterly earnings. Analysts polled by Tikr expect Apple to post revenues of $92.8…
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Alibaba stock (NYSE: BABA) fell in Hong Kong trading today amid reports that SoftBank is moving to sell more shares after having already sold the bulk of shares over the last year. The Financial Times reported that SoftBank has sold around $7.2 billion worth of Alibaba shares this year through prepaid forward contracts. The Japanese…
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Tesla (NYSE: TSLA) would soon release its first-quarter delivery report. Here’s what the market is expecting from the EV (electric vehicle) giant in the first quarter. Wall Street analysts expect Tesla’s deliveries to rise 39% YoY to 430,000 in the first quarter of 2023. While the company does not provide quarterly guidance, during the Q4…
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Earlier this week Chinese e-commerce giant Alibaba (NYSE: BABA) said that it would split into six businesses. The stock soared after the announcement and Morgan Stanley sees more upside amid the value unlocking. Alibaba would become a holding company and would split the business into six units. These are The Taobao Tmall Commerce Group, Cainiao…
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Snap stock (NYSE: SNAP) stock rose over 3% yesterday and has outperformed the markets over the last couple of weeks. Growing scrutiny of TikTok in the US and Snap’s new AR enterprise solution has been driving the stock higher. Yesterday, Snap announced a new business segment called AR Enterprise Services (ARES) which would sell its…
