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Amazon Reportedly Orders 1,000 Autonomous Driving Systems from Plus

Ahead of its merger with special purpose acquisition company (SPAC) Hennessy Capital Investment Corp V (NASDAQ: HCIC), which was announced last month, autonomous truck startup Plus has reportedly secured an order of 1,000 autonomous driving systems from e-commerce behemoth Amazon.com (NASDAQ: AMZN). The rumor sent Hennessy Capital Investment Corp V...
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Raven Stock Soars 50% on CNH Buyout

Raven Industries (NASDAQ: RAVN) kicked off the new week by announcing that it is being acquired by CNH Industrial NV (NYSE: CNHI) in a $2.1 billion deal. The news sent Raven shares up by a whopping 50% compared to Friday’s closing price. The deal will help CNH, a leading manufacturer of agricultural equipment, expand its business in several ways.
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Arrival Stock Crashes on Warrant Redemption

Electric vehicle (EV) startup Arrival (NASDAQ: ARVL) announced on Friday that it is redeeming all outstanding warrants. Warrants are derivatives that have become a mainstay of merger deals with special purpose acquisition companies (SPACs), allowing investors to buy more stock in the new company. As of 12:10 p.m. EDT, Arrival...
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CuriosityStream Stock Tanks on Double Downgrade

Shares of CuriosityStream (NASDAQ: CURI) tanked on Friday after getting a double downgrade from Wall Street. BofA Securities cut its rating on CuriosityStream stock by two notches from buy to underperform, while maintaining its price target of $14. As of 1 p.m. EDT, the stock was down by 13%. Hitting...
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23andMe Stock Pops After Closing Its SPAC Deal

Consumer genetics and research specialist 23andMe (NASDAQ: ME) has closed its merger with special purpose acquisition company (SPAC) VG Acquisition. The stock started trading under the new ticker symbol “ME” on Thursday, gaining as much as 11% as investors cheered the completion of the “de-SPAC” transaction. As of 12:50 p.m....
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Lordstown Motors Takes a U-Turn on Orders

Lordstown Motors (NASDAQ: RIDE) offered investors some hope earlier this week when executive Rich Schmidt said the embattled electric vehicle (EV) startup had “binding orders” that would cover the first two years of production. “Currently, we have enough orders for production for ‘21 and ‘22,” Schmidt commented at an Automotive...
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Alphabet Subsidiary Waymo Raises Another $2.5 Billion

Following its first external capital raise last year, Alphabet (NASDAQ: GOOG; NASDAQ: GOOGL) autonomous vehicle (AV) division Waymo has just completed its second funding round from external investors. The company has scored another $2.5 billion from a handful of institutional investors to help fund the development of self-driving cars. Here’s...
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Workhorse Stock Climbs on Plan to Challenge USPS Loss

Shares of electric vehicle (EV) startup Workhorse Group (NASDAQ: WKHS) were decimated earlier this year after the United States Postal Service awarded a massive contract worth billions of dollars to Oshkosh Corporation (NYSE: OSK). Workhorse shares lost nearly half of their value in February, as investors had high hopes that the company would clinch the deal to provide electric delivery vehicles.
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Lordstown Motors Stock Craters as CEO and CFO Step Down

It’s been a brutal couple of weeks for Lordstown Motors (NASDAQ: RIDE). The electric vehicle (EV) startup warned investors last week that it was running out of cash and lacking the necessary money to start production of the Endurance, the electric pickup truck the company has been developing. Lordstown may not be able to continue as a “going concern,” the accounting term for a company being financially sustainable.
BusinessPosted by
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How to Make Inflation Work For You

It’s been nearly three decades in the making, but it appears inflation is finally here. The prices of most items are increasing significantly faster than they have been: In April, the Consumer Price Index rose 4.2% year over year, which is more than double the long-term inflation target from the Federal Reserve.
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Velodyne Lidar Stock Surges on Index Inclusion

While joining a stock market index does not impact a company’s business, it sure can create some volatility. Velodyne Lidar (NASDAQ: VLDR) announced today that it will be joining the Russell 2000 Index as part of the index operator’s annual reconstitution of the market barometers that it maintains and licenses.
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Stitch Fix Stock Jumps on Strong Quarterly Results

Shares of Stitch Fix (NASDAQ: SFIX) jumped on Tuesday after the company reported blockbuster quarterly results for the fiscal third quarter. The figures beat Wall Street’s expectations, and Stitch Fix offered investors an optimistic outlook going forward. This was the first earnings release since CEO and founder Katrina Lake announced...
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DocuSign Stock Skyrockets After Trouncing Earnings Expectations

Digital documentation and electronic signature specialist DocuSign (NASDAQ: DOCU) reported fiscal first quarter earnings on Thursday evening, and the results easily trounced Wall Street’s expectations. Billings growth was strong and the company also offered an optimistic forecast. As of 12 p.m. EDT Friday, the stock was up by 15%. A...
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FireEye Stock Tanks on Plan to Divest Core Business

Cybersecurity specialist FireEye (NASDAQ: FEYE) announced on Wednesday evening that it will sell its FireEye Products business, including the FireEye brand name, to a consortium of investors led by Symphony Technology Group (STG) for $1.2 billion in cash. The company attests that the deal will allow it to focus on...