Billion Dollar Club Archives - Page 8 of 28

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,…

ThursdayNov 14, 2024 8:00 am

Nikola Establishes itself as the Market Leader for Hydrogen-Powered Vehicles

Nikola Corporation (NASDAQ: NKLA) is rapidly establishing itself as a leader in the hydrogen fuel cell trucking industry, a critical development as the world looks to reduce emissions in heavy-duty transportation. Through key partnerships and strategic deliveries, Nikola has gained substantial ground in the North American hydrogen-powered truck market, distinguishing itself as an early mover. Recently, Nikola hit a key landmark by delivering dozens of hydrogen fuel cell electric vehicles (FCEVs) to fleets across the U.S. Nikola, which is already partnering with industry giants like J.B. Hunt and DHL, has shown that hydrogen-powered trucks can work well in commercial logistics.…

TuesdayNov 12, 2024 8:00 am

Post-Election Market Rally Makes Coinbase CEO at Least $2bn Richer

The wealth of Coinbase CEO Brian Armstrong surged by more than $2 billion following a record-breaking 31% increase in Coinbase Global Inc. (NASDAQ: COIN) shares on November 6, 2024. The market rally stemmed from a successful Election Day for candidates backing pro-crypto policies, making Armstrong the biggest beneficiary of the crypto industry’s growing political influence. The sharp rise in Coinbase’s stock came after victories for pro-crypto candidates, particularly in Ohio, where Republican Bernie Moreno triumphed over Democratic incumbent Sherrod Brown in the Senate race. Armstrong, who is the co-founder of Coinbase and has considerable investments in the company, saw the…

FridayNov 08, 2024 8:00 am

Alibaba Lays Off Dozens from its Metaverse Unit Amid Sector Slowdown

Alibaba Group has laid off dozens of employees from its metaverse division, Yuanjing, in light of a decline in the buzz about the metaverse. By restructuring the teams in the Shanghai and Hangzhou offices, the Chinese multinational technology company aims to enhance organizational efficiency. However, despite these cutbacks, the company reassures that its metaverse efforts will continue, focusing on metaverse tools and services for its customers. Founded in 2021 during a period of intense enthusiasm for the metaverse, Yuanjing had been part of Alibaba Group Holding Ltd. (NYSE: BABA)'s wider effort into virtual and augmented reality technologies. At its most…

ThursdayNov 07, 2024 9:00 am

Rumble Inc. Insiders Still Hold Majority Stake in the Firm, Recent Sales Notwithstanding

Rumble Inc. (NASDAQ: RUM) is firmly controlled by its insiders, with over half of its shares held by only a small group. Although some insiders have sold shares recently, they still hold a big portion of the company, so they’re set to profit if the stock goes up but also face risks if it drops. The concentrated ownership structure reveals how the video-sharing platform’s fortunes are strongly linked to its insiders' interests. The top four shareholders at the heart of Rumble’s ownership structure are holding a commanding 51% of the company. Rumble’s CEO Christopher Pavlovski leads the group, and personally…

TuesdayNov 05, 2024 8:00 am

CleanSpark Increases Efficiency with New Immersion-Cooled Canaan Bitcoin Miners

In a recent expansion that is intended to boost operational efficiency, CleanSpark Inc. has made a major purchase. The prominent bitcoin mining and energy technology company bought a new batch of 3,800 Avalon A1566I bitcoin miners from the Chinese tech manufacturer Canaan Inc. (NASDAQ: CAN). Beyond just benefiting CleanSpark by helping it grow its mining capacity, the collaboration marks a significant step in the firm’s mission to develop a more energy-efficient and sustainable mining fleet. Expected to arrive in the fourth quarter of 2024, these cutting-edge mining machines will run at 249 terahash per second (TH/s) without overclocking. The Avalon…

FridayNov 01, 2024 9:00 am

Riley Starts Covering Stardust Power

Riley Financial Inc. (NASDAQ: RILY) has issued a "Buy" rating on Stardust Power Inc. (NASDAQ: SDST), setting a promising price target of $12.00 per share. The diversified financial company recognizes great possibilities in Stardust’s strategies for building one of the largest lithium refineries in the U.S., located in Muskogee, Oklahoma. When fully operational, the refinery is expected to produce an impressive 50,000 metric tons of lithium annually. As final engineering and financing continue, the plant’s strong economic prospects and speedy development schedule have placed Stardust firmly within the lithium market. Stardust Power has decided to distinguish itself using direct lithium…

ThursdayOct 31, 2024 9:00 am

Riot Platforms is Positioned for Growth Despite Industry Volatility

Amidst the ups and downs of the cryptocurrency world, Riot Platforms Inc. (NASDAQ: RIOT) is quickly carving out a significant place for itself in Bitcoin mining. As the largest Bitcoin mining company in North America, Riot is making strategic moves to expand its operations, and many are hopeful for what lies ahead. Even though the crypto market is facing uncertainty, the mining company appears well-prepared for growth. A major factor in the company’s promising outlook, headquartered in Colorado, is its ambitious plan to significantly increase its hash rate capacity. Riot has set targets to achieve 36 EH/s (exahashes per second)…

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Category: Billion Dollar Club