NewsRoom Articles - Page 22 of 31

WednesdayMar 20, 2024 9:00 am

Mixed Investor Reactions as Lucid Motors Partners with NeueHouse

Last week, Lucid Motors (NASDAQ: LCID) announced that it had entered into a partnership agreement with NeueHouse, a company that offers private offices as well as collaborative workspace, meeting and event spaces. The partnership officially began on Feb. 23, 2024, at NeueHouse’s Madison Square 10x10 House Party. The American manufacturer of luxury electric vehicles saw its shares drop by 5% following the announcement, which may indicate rising concern among its investors. Lucid’s first car, Lucid Air, is a state-of-the-art luxury sedan with a design inspired by California. According to the company’s official press release, the move to partner with NeueHouse…

MondayMar 18, 2024 9:00 am

Fisker Courts Nissan for a Partnership, and Cash

Fisker Inc. (NYSE: FSR), an EV manufacturing firm based in the U.S., recently announced that it was in talks with Nissan. This comes a day after the firm’s CEO announced that they were involved in talks of capital infusion from another car manufacturer. The CEO, Henrik Fisker, also gave a going-concern warning, which suggests stress in a market whose consumer demand seems to be dwindling while growth slows down. In addition to this, the EV company announced plans to reduce its workforce by 15%, reporting that its earnings were lower than expected. Further, the firm revealed that it was experiencing…

FridayMar 15, 2024 9:00 am

Coinbase’s Share Price Rises as Bitcoin Soars

Coinbase Global Inc. (NASDAQ: COIN)’s stock prices have gone up significantly amid a surge in Bitcoin prices and even surpassed the listing price set during Coinbase’s direct public offering in 2021. The rise in share prices represents a major turn for the better for a crypto exchange that has dealt with significant challenges since it joined the stock market. Coinbase share prices have surged by a whopping 60% since the beginning of the year and passed $252 per share this month, Coingape reports. This is the first time in several years that Coinbase shares have cleared the $250 mark and…

WednesdayMar 13, 2024 9:00 am

Early R2 SUV Orders Give Rivian a Market Edge

Last week, Rivian Automotive Inc. (NASDAQ: RIVN)’s shares closed about 2% higher following the launch of its new SUV. Rivian is an electric-vehicle manufacturer and automotive-technology and outdoor-recreation company backed by Amazon.com. Within hours of its launch, the company received thousands of reservations, which fueled optimism that Rivian could occupy a larger share of the EV market. In a post on X, Rivian CEO RJ Scaringe stated that the company had seen more than 68,000 reservations for the R2 SUV. The vehicle’s starting price is $45,000, and the EV boasts an estimated range of 300-plus miles. Its charging system allows…

MondayMar 11, 2024 9:00 am

Nikola Names Ex-GM Executive as New CFO

Nikola Corporation (NASDAQ: NKLA) is a company involved in the manufacture of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles and energy solutions. The company recently appointed Thomas Okray as its new chief financial officer. This position had been temporarily filled by the Nikola CEO and president Steve Girsky after then-CFO Anastasiya Pasterick resigned in December 2023. Pasterick moved on to Universal Hydrogen, which is focused on offering hydrogen-powered, electric-fuel-cell powertrains for commercial aircrafts. Okray has extensive experience in the automotive industry, having served as CFO for three other companies in the same industry, the first being Advance Auto Parts, where…

FridayMar 08, 2024 9:00 am

Tesla Could Earn Billions Annually by Opening Charging Network to Other EVs

As of last week, owners of the F-150 and Mustang Mach-E could power up their electric vehicles using Tesla Inc. (NASDAQ: TSLA) superchargers. Jim Farley, Ford CEO, stated in a recent LinkedIn post that the charging partnership would improve the electric car ownership experience for Ford drivers, revealing that he had tested the superchargers out himself and they worked great. Eligible owners of the aforementioned vehicles can reserve a complimentary fast charging adapter by going to FastChargingAdapter. The Tesla-Ford partnership involves the addition of Tesla’s fast-charging adapters to the Ford BlueOval Charge Network. Last June, Tesla entered a similar arrangement…

WednesdayMar 06, 2024 9:00 am

QuantumScape Ends Week on High, Outperforming Broader Market

Solid state lithium metal battery company QuantumScape Corporation (NYSE: QS) recently closed the week on a high of $6.27 per share and 0.64% higher than the previous trading session. QuantumScape shares went up by 0.52% on the S&P 500, 0.9% on the Nasdaq, and 0.12% on the Dow. The recent gains come after QuantumScape shares went down by 8.52% over the past month amid a 12.6% gain in the auto-tires-trucks sector and a 3.85% gain on the S&P 500. As one of the top solid-state battery manufacturers on the globe, QuantumScape has the potential for significant growth. Current lithium-ion electric…

WednesdayMar 06, 2024 9:00 am

D-Wave Quantum Inc. (NYSE: QBTS) and NEC Australia Introduce Quantum Services to Australian Market

D-Wave and NEC Australia announced two new quantum offerings for Australia's commercial sector, federal and state governments, and academia The companies’ new quantum services aim to optimize business operations and can navigate increasingly large datasets to find solutions to real-world problems New offerings include a quantum consultancy service and access to D-Wave’s Leap(TM) real-time quantum cloud service D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services, and NEC Australia recently announced the introduction of two new quantum services to the Australian market, enhancing the quantum computing offerings available to Australia's commercial sector, federal and state governments,…

MondayMar 04, 2024 9:00 am

Nikola Sets Ambitious Delivery Target for Hydrogen-Powered Trucks

Nikola Corporation (NASDAQ: NKLA) has announced a target to deliver up to 350 hydrogen-fuel cell electric trucks this year. The Phoenix, Arizona-based alternative energy carmaker is setting its ambitions on delivering more than 350 hydrogen-powered fuel cell trucks to customers by the end of this quarter after cost controls. A recent statement from the company revealed that it was close to returning the battery electric trucks it recalled from customers last August because of fire risks. Fleets can expect to receive their trucks by the end of quarter two of this year or early into the third quarter, Nikola said.…

FridayMar 01, 2024 9:00 am

Riot Platforms’ Annual Report Sheds Light on Possible Risks of Bitcoin Halving

Bitcoin mining giant Riot Platforms (NASDAQ: RIOT) recently published a report outlining the potential risks of being exposed to cryptocurrency companies plagued with instability. With several cryptocurrency platforms collapsing in recent years, distrust in the nascent crypto sector is at an all-time high. According to Riot’s latest annual report, several risks have the potential to impact the company and disrupt its Bitcoin mining operations. These include a potential reduction in on-chain transition fees, problems in the wider cryptocurrency economy and an anticipated Bitcoin halving event in April. According to Riot, the halving event is particularly risky because it can potentially…

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