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Lordstown Motors stock was trading sharply lower in early US price action after its key executive abruptly resigned. Lordstown CEO Steve Burns and CFO Julio Rodriguez have resigned with immediate effect. The company said that “Lead Independent Director Angela Strand has been appointed Executive Chairwoman of the Company, and will oversee the organization’s transition until…
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Data released today showed that US inflation rose to multi-year highs in May. However, markets seemed to shrug off the data and Dow Jones opened higher. US consumer price index rose to 5% in May, which was higher than the 4.7% which analysts were expecting. This is the highest reading for the US retail inflation…
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The price of spot gold is trimming its early losses during this morning’s commodity trading action as the annualized inflation rate in the United States rose above the market’s forecasts. Before the data came out, the price of gold was down 0.65% at $1,876 per troy ounce but it quickly bounced to $1,885 per ounce…
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Canoo stock rose over 20% yesterday and was sharply higher in US premarket trading today. The stock is among the top 10 popular names on Reddit group WallStreetBets. Canoo went public in 2020 in what was a red-hot year for green energy companies. All the green energy companies saw a rerating in 2020 as markets…
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Apple stock is down 5% so far in 2021 and is underperforming the broader markets as well as the FAANG peers. Can the stock reverse its recent underperformance and hit the $3 market capitalization that some analysts are projecting? In the FAANG pack, Apple is the second-worst performer in 2021 while Netflix is the worst…
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The price of Bitcoin slid more than 6% yesterday after officials from the Federal Bureau of Investigation (FBI) announced that they had been able to recover a portion of the ransom paid by Colonial Pipeline to a group of hackers called DarkSide to regain control of what is a crucial piece of infrastructure of the…
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Day Trading: The Art and Craft of Stalking Stocks as Trading Targets Some investors like to pour over quarterly, annual and multi-year balance sheets and income statements. They pick apart visible pipelines of ongoing projects, major contract wins and losses and quarterly comparative sales and revenue figures. This is what fundamental investors do. But, however…
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Stocks of General Motors were trading flat in US premarket price action today after rising sharply yesterday. The company has raised its profit guidance and is ramping up production despite chip shortages. During their earnings call last month, General Motors had forecast that its pre-tax profit in the first half of the year would be…
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AMC Entertainment stock was trading sharply lower in early US price action today after the company announced a capital raise in an apparent bid to capitalize on the Reddit-driven rally. “In accordance with the terms of the Distribution Agreement, we may, through our sales agents, offer and sell from time to time up to an…
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Chinese EV (electric vehicle) companies including NIO, XPeng Motors, and Li Auto have released their May deliveries. What are the key takeaways from these companies’ delivery reports? While Tesla provides annual delivery guidance and provides the delivery breakdown on a quarterly basis, Chinese EV companies provide quarterly guidance and release their delivery report every month….
