April 2024 - BillionDollarClub

MondayApr 29, 2024 9:00 am

Earth Day Bonanza: Rivian Unveils ICE Vehicle Trade-In Deals of Up to $5,000

In celebration of the recent Earth Day, American electric vehicle manufacturer Rivian Automotive Inc. (NASDAQ: RIVN) is using a novel and unique tactic to encourage consumers to buy its electric cars. The Irvine, California-based automaker recently launched a unique trade-in price cut that would offer buyers up to $5,000 reduction if they traded in select fossil fuel-powered cars for new Rivian R1Ss or R1Ts. This unique discount will allow interested buyers to receive thousands of dollars off their Rivian electric truck purchase when they trade in a gas vehicle, introducing an entirely new means of stimulating electric vehicle purchases to…

FridayApr 26, 2024 9:00 am

Soap Mishap Causes Tesla to Recall Thousands of Cybertrucks

Tesla Inc. (NASDAQ: TSLA) is calling back its Cybertrucks after issues with faulty pedal pads that could cause accelerator pedals to get stuck were noted. Specifically, it was reported that when drivers pressed their feet down on the accelerators, the pads could come off and become trapped in the interior trim, which increased the risk of a collision by leaving the accelerator stuck. This issue is said to have emerged on production lines with soap, as reported by the auto manufacturer to the National Highway Transportation Safety Administration. In the report, Tesla revealed that some changes saw the introduction of…

WednesdayApr 24, 2024 9:00 am

Vontobel Ups its Holdings QuantumScape Corp.

Recently released reports show that Vontobel Holding Limited increased its holdings in QuantumScape Corp by more than 9%. QuantumScape Corp (NYSE: QS) is a company focused on the development of solid-state lithium metal batteries for electric vehicles, among other applications. Following its recent acquisition, the global investment management company now owns a total of 206,147 shares in the California-based company. At the end of the latest reporting period, Vontobel’s holdings in QuantumScape were worth more than $1.4 million. This isn’t the first company to alter its holdings of QuantumScape either. During the fourth quarter, Clear Street Markets LLC bought a…

MondayApr 22, 2024 9:45 am

D-Wave Quantum Inc. (NYSE: QBTS) Announces Dates for Qubits 2024 Quantum Computing Conference in Boston

D-Wave’s Qubits 2024 annual quantum computing conference will take place in Boston, Massachusetts, on June 17 and 18, 2024 The two-day event will explore the transformative potential of D-Wave's quantum technologies as they tackle complex computational challenges across supply chain logistics, manufacturing, government, and the life sciences sectors Participants will learn about D-Wave customers’ powerful quantum-hybrid applications, the company’s latest quantum technology innovations, and updates on the company’s latest groundbreaking scientific research D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world's first commercial supplier of quantum computers, recently announced that its Qubits 2024…

MondayApr 22, 2024 9:00 am

Coinbase CEO Shares Updates on Company’s AI Integrations

Coinbase Global Inc. (NASDAQ: COIN) CEO Brian Armstrong has announced that the American crypto exchange's design team has begun exploring the use of artificial intelligence (AI) in its activities. The cryptocurrency boss's announcement indicates that Coinbase is getting comfortable with leveraging AI in its operations despite its initial warnings about the emerging technology. According to Armstrong, the crypto exchange's design team is using AI for a myriad of reasons, including the testing of a certain AI design generator. For instance, Armstrong explained on social media platform X, using a simple text prompt to generate a Figma mockup that can act…

FridayApr 19, 2024 9:00 am

Riot Platforms, Marathon Digital CEOs Share Insights on Industry’s Trajectory

Last week, Bitcoin was trading at $72,500 before its price settled at $68,000 later in the week. Companies such as Marathon Digital and Riot Platforms Inc. (NASDAQ: RIOT) are currently prepping for the halving event, which is slated to occur on April 20, 2024. The event will reduce the number of tokens mined daily to 450 from 900. This is primarily because Bitcoin supply is capped at 21 million tokens, so until this figure is achieved, a specific amount of Bitcoin is awarded to validators and miners. Marathon Digital is a digital asset technology company that mines cryptocurrencies with a…

WednesdayApr 17, 2024 9:00 am

What Could Affect NIO Inc. Stock in Short-Term

Chinese automotive company Nio Inc. (NYSE: NIO) has raised more than $5 billion in investor capital so far, and its stock is one of the most searched on Zacks.com. Despite these positive moves, Nio shares had a -20.1% return during the past four weeks compared to the +1.6% gain seen by the Zacks S&P 500 Composite. The Zacks Automotive–Foreign industry category where the company’s shares are listed also saw a 1.2% gain over the same period. Although it didn't pioneer the idea of battery swapping as an alternative to charging battery electric vehicles (BEVs), Chinese electric vehicle company Nio was…

MondayApr 15, 2024 9:00 am

A Peek into Lucid, the Startup Giving Tesla a Run for Its Money

Once dubbed the “Tesla killer,” electric vehicle start-up Lucid Motors (NASDAQ: LCID) was expected to push Tesla to the ropes and threaten the EV giant's global supremacy. Lucid seduced investors with the idea of luxury electric cars that offered better performance than the Porsche Tycan, Maybach S-Class levels of ambience and more range than any other battery electric vehicle (BEV) on the globe. With its headquarters expected to be in mid-California, Lucid’s main base of operations would be close enough to Meta to poach some of its top coding experts while providing the startup with great weather all year round.…

FridayApr 12, 2024 9:00 am

Trust Point Increases Stake in Rivian Automotive

Trust Point Inc. recently increased its stake in Rivian Automotive Inc. (NASDAQ: RIVN), purchasing more than 10,478 shares of the auto manufacturer’s stock. The total value of the recently purchased shares stands at $246,000. Trust Point is one of several institutional investors and hedge funds that have made changes to their positions in Rivian Automotive. During the third quarter, Vanguard Group Inc. increased its stake in the electric vehicle manufacturer by 0.6%. After buying the additional 408,677 shares, the investment company now owns 63,845,364 shares of Rivian, with a total value of worth $1,550,165,000. Morgan Stanley also raised its stake…

WednesdayApr 10, 2024 9:00 am

Analysts Are Confident About D-Wave Quantum, Raise Price Targets

D-Wave Quantum Inc. (NYSE: QBTS), a quantum computing company founded in 1999, recently recorded an upswing after seasoned market analysts Craig Hallum and Roth Mkm increased their price objectives for the company. Hallum adjusted his target to $2.50 from $1.75 with a buy recommendation while Mkm expressed optimism by increasing his price goal to $3 from $2. The quantum computing company is earning more confidence from market experts as it takes bigger strides in the quantum computing domain. Its trading demonstrates a consistent upward trend with an opening stock price of $2.02. During the last 12 months, D-Wave Quantum has…

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Month: April 2024