The Nasdaq closed at a record high on Monday while the S&P 500 gained slightly as technology stocks advanced ahead of Nvidia‘s highly anticipated earnings and investors gauged the timing of an interest rate cut by the Federal Reserve. The S&P 500 technology index led gains among the 11 major S&P sectors, rising 1.32%, helped … Read more
Nikola lost more than a quarter of its market value on Friday after the U.S. electric truck maker named its fourth CEO in as many years and reiterated for the third time this year its doubts about continuing as a going concern. The news came a day after shareholders approved a plan to issue more … Read more
Vaccine developers, electric-vehicle startups and a bankrupt car-rental company captured the imagination of individual investors in 2020 as Reddit chat rooms touted the so-called meme stocks as the next big winners. “You saw an amazing amount of volume compared to normal and that came from the retail side,” said David Wagner, a portfolio manager at … Read more
Washington: The founder and executive chairman of embattled zero-emission truck maker Nikola has resigned, the company announced on Sunday, after allegations of fraud which sparked a stock tumble and a regulatory investigation. The Phoenix-based company said in a statement that it had accepted Trevor Milton’s resignation and that he would be replaced by Stephen Girsky, … Read more