Lacey@GCS, Author at BillionDollarClub

TuesdayDec 10, 2024 8:00 am

Lucid Replaces its European Boss, Starts Producing SUVs

Lucid Motors (NASDAQ: LCID), a well-established electric vehicle (EV) manufacturer from the United States, has recently made notable changes in its leadership team and production plans. First, the company announced the replacement of its European boss Alexander Lutz with Lawrence Hamilton, a seasoned automotive executive. Second, Lucid has officially begun producing its much-anticipated Gravity electric SUV on a full scale. These updates represent important steps for Lucid as it continues to navigate the competitive electric vehicle market. The most recent change at Lucid Motors is the replacement of Alexander Lutz as the Managing Director of Lucid Motors Europe. Lutz, who…

FridayDec 06, 2024 8:00 am

“Optimism” and Anime Inspire Rivian’s EV Controls Overhaul

Rivian Automotive Inc. (NASDAQ: RIVN), an electric vehicle (EV) manufacturer, is taking a fresh approach to car controls. Instead of the boring and plain designs many cars use, Rivian has created something fun, colorful, and inspired by anime and optimism. This new design makes interacting with the car more enjoyable and reflects Rivian’s vision for a better, more sustainable future. Jeff Hammoud, Rivian’s Chief Design Officer, explains that the goal behind the redesign was to bring “optimism” into the driving experience. Unlike the aggressive and harsh designs often seen in trucks, Rivian wanted their vehicles to feel welcoming and friendly.…

ThursdayDec 05, 2024 8:00 am

Marathon Buys 700 BTC, Plans More Purchases

Marathon Digital Holdings Inc. (NASDAQ: MARA), commonly known as MARA, has added 703 BTC to its holdings this November. This brings its total Bitcoin stash to 34,794 BTC, worth $3.3 billion today. With this, Marathon is now the second-largest company holding Bitcoin, just behind MicroStrategy. The company, which is focused on Bitcoin, raised $1 billion by selling special financial notes that don't charge interest. From this, the company used $200 million to buy back older notes. The rest, $160 million, is set aside to buy more Bitcoin in the future. MARA's CEO Fred Thiel believes Bitcoin is a wise investment…

TuesdayDec 03, 2024 8:00 am

Riley Sees Additional Financial Advisors Exiting the Firm

Riley Financial Inc. (NASDAQ: RILY), a leading investment bank, has faced a tough year with its stock price dropping by more than 68%. The dramatic decline reflects major struggles, including financial challenges, advisors leaving, and increased regulatory scrutiny. Several experienced financial advisors have chosen to leave B. Riley for its competitors in recent months. One of these advisors is Brian T. Cohen, who joined Ceros Financial Services on 18th last month, according to public records. Just days earlier on Nov. 14, Russ Zalatimo, HudsonPoint Capital’s head, joined Arete Wealth Management, which deals will alternative investments. Other significant exits include Eric…

FridayNov 29, 2024 8:00 am

An Analysis of Riot Platform’s Position Relative to its Peers

Riot Platforms, Inc. (NASDAQ: RIOT) has become a major player in the world of Bitcoin mining and blockchain technology. It’s one of the biggest companies in the industry, and its financial results show just how well it’s doing compared to its competitors. But what sets it apart from other Bitcoin mining companies, and how does it stand in the market? Riot’s numbers speak for themselves. In Q3 of 2024, the Los Angeles-based company saw a 65% jump in revenue, bringing in $84.8 million, up from $51.9 million in the same period last year. This increase is mainly due to higher…

TuesdayNov 26, 2024 8:00 am

NIO’s Q3 Losses Higher Than Anticipated, Firm Upbeat About Q4

NIO Inc. (NYSE: NIO) faced rigorous challenges in the third quarter of 2024 compared to the same period in 2023. The leading electric vehicle (EV) maker from China reported a loss of $0.36 per American Depositary Share (ADS), exceeding analysts' expectations of a $0.32 loss. Revenue also disappointed, totaling $2.66 billion, falling short of the forecasted $2.70 billion, a 2.1% dip from the previous year. Despite these setbacks, NIO remains optimistic about its future. For the fourth quarter, the company anticipates a significant rebound. It expects to deliver between 72,000 and 75,000 vehicles, marking a year-over-year growth of 43.9% to…

FridayNov 22, 2024 8:00 am

Why Tesla Continues to Appeal to EV Drivers

When it comes to electric vehicles (EVs), Tesla Inc. (NASDAQ: TSLA) has a way of staying ahead of the pack. Its unique cost savings, cutting-edge technology, and environmental impact make it a top choice for drivers switching from traditional cars. Whether you're looking for lower fuel costs, high-end safety features, or a stylish ride, Tesla keeps proving why it’s worth the hype. Tesla makes it clear that driving electric vehicles can save you big money. Unlike traditional SUVs, which can guzzle expensive fuel, Teslas are cost-efficient. It's cheaper even at public charging stations. Over time, these savings become significant, especially…

ThursdayNov 21, 2024 8:00 am

Nikola Recalls Dozens of its Trucks as Defective Display Raises Possibility of Crashes

Nikola Corporation (NASDAQ: NKLA) has issued a recall for 72 of its battery-electric trucks due to a significant safety concern related to the instrument panel. According to the National Highway Traffic Safety Administration (NHTSA), the display in these trucks may fail, leaving drivers unable to see important information such as speed and range. This defect increases the risk of accidents and has prompted Nikola to take action. The affected trucks are from the 2022-2023 model years, and the electric truck manufacturer has assured its customers that the issue will be resolved free of charge. Dealers will replace the faulty instrument…

TuesdayNov 19, 2024 8:00 am

Efficiency Gains Cause Research Firm to Raise its Targets for Marathon Performance

Marathon Digital Holdings (NASDAQ: MARA), a leading cryptocurrency mining company, is turning heads with its efficiency gains and strategic growth. H.C. Wainwright, a prominent research firm, has raised its price target for Marathon from $27 to $28 while maintaining its “Buy” rating. The upgrade acknowledges the company’s significant operational improvements and proactive strategies, demonstrating resilience and adaptability despite facing revenue challenges. In its third-quarter earnings report for 2024, Marathon posted revenue of $131.6 million, reflecting a 9% decline from the previous quarter’s $145.1 million. Despite this dip, the company delivered remarkable operational results. Marathon’s energized hash rate, a key measure…

FridayNov 15, 2024 8:00 am

The ES6 Leads Nio’s October Deliveries

Nio Inc. (NYSE: NIO) had an impressive October driven primarily by the strong performance of its ES6 model. This sleek SUV continued as Nio’s top-selling vehicle delivering 6,471 units, making up nearly a third of the company’s total monthly deliveries. Despite a slight dip from previous months, the ES6’s strong sales highlight its importance as Nio's key model—a trend that is likely to continue until the company’s new Onvo sub-brand can fully ramp up production. While October's deliveries for the ES6 fell below the 7,000 mark for the first time since April, this SUV remains the backbone of Nio’s lineup,…

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Author: Lacey@GCS