Nikola surged as much as 21% on Wednesday as investors searched for clues that a deal between General Motors and the electric-vehicle start up had been finalized.
Mention of Nikola on General Motor’s website was widely circulated on Wednesday, but the webpage notes that the transaction between the two companies “has not yet closed.”
General Motors CEO Mary Barra said earlier this month talks remain ongoing with Nikola after a previously announced deal was put on hold following a short-seller report that alleged fraud at the electric truck company.
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Investors in Nikola are scouring the internet in search of clues that a previously announced $2 billion manufacturing deal with General Motors will go through.
That deal, announced in September, was put on hold following a report from Hindenburg Research that alleged Nikola and its co-founder Trevor Milton committed
Nov. 5 (UPI) — The price of Bitcoin continued on an upward path Thursday, increasing in value by $1,472.28, or more than 10% in a single day and reaching a high of $15,755.52.
The price of the crypto token has been rallying for several weeks, increasing by more than 30% in value in the past month, and more than doubling in value since the year began.
Some investors and speculators believe that cryptocurrency can provide a shelter from inflation as governments around the world are flooding their citizens with coronavirus stimulus cash, experts said Thursday.
“Bitcoin’s creation was in part due to fears that increased fiscal stimulus is devaluing currencies globally,” Simon Peters, a cryptoasset analyst at eToro told CNBC. “As a result, when central banks announce extensive plans to pump money into economies, many investors in the crypto community take this as a major bitcoin buy signal.”
First Solar’s strong third-quarter earnings sent its stock price as high as 13% in pre-market trading on Wednesday.
The solar-panel maker posted a rise of nearly 70% in sales during the quarter, allowing it to reinstate full-year guidance that it previously withdrew because of uncertainty related to the severity and duration of the COVID-19 pandemic.
For 2020, the company said it expects to earn between $2.6 billion to $2.9 billion, as its productive capacity has been averaging over 100% at all of its factories.
First Solar shares have gained about 54% this year.
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First Solar shares surged as much as 13% in pre-market trading on Wednesday after posting a massive jump in third-quarter sales.
The solar-panel manufacturer said its sales rose 70% year-on-year in the quarter, and brought back its full-year guidance that was previously withdrawn to account
(Bloomberg) — The Trump administration lost a bid to enforce its prohibitions against the Chinese-owned “super app” WeChat in the U.S. after appealing a judge’s ruling that the ban probably violates the free-speech rights of its users.
Upholding a trial judge, the U.S. Court of Appeals in San Francisco on Monday rejected the administration’s request for a stay of the preliminary injunction that prevents the administration from enforcing a wide range of measures, including barring the app from Apple and Google’s app stores for U.S. downloads, over purported national security concerns. Shares of WeChat owner Tencent Holdings Ltd. jumped as much as 3.1%, the most in two weeks, on Tuesday to an intraday record in Hong Kong trading.
The Trump administration has claimed that WeChat is a threat because Tencent is intertwined with the Chinese Communist Party, which can use the app to disseminate propaganda, track users, and steal their
Charee Mobley, who teaches middle school in Fort Worth, Texas, had just $166 to get herself and her 17-year-old daughter through the last two weeks of August.
But that money disappeared when Mobley, 37, ran into an issue with Square’s Cash App, an instant payments app that she was using in the coronavirus pandemic to pay her bills and do her banking.
After seeing an errant online shopping charge on her Cash App, Mobley called what she thought was a help line for it. But the line had been set up by someone who asked her to download some software, which then took control of the app and drained her account.
“I didn’t have gas money and I couldn’t pay my daughter’s senior dues,” Mobley said. “We basically just had to stick it out until I got paid the following week.”
(Bloomberg) — Bitcoin surged past $13,000 for the first time since July 2019 after PayPal Holdings Inc. announced it will allow customers to use cryptocurrencies.
The largest digital coin increased $950, or 8% during tradition trading hours in New York. It climbed another 2% to $13,119 in early Asian trading. Gains among so-called alt coins were even bigger on Wednesday, with Litecoin jumping more than 13% and Bitcoin Cash surging more than 9%.
PayPal customers can buy, sell and hold cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin from digital wallets, as well as use the virtual money to shop at the 26 million merchants on its network. Shares of PayPal jumped 5.5% to $213.07, the biggest increase since May.
Mike Novogratz, who runs Galaxy Investment Partners, on Twitter called it “the biggest news of the year in crypto,” adding that banks will embark on a race to