Lucid is down 54% from its November high price, wiping over $40 billion off its cheery valuation in the process. Its recent fourth-quarter earnings release lowered the company’s electric vehicle (EV) production target dramatically for 2022 from manufacturing issues. Investors should be careful here and take a wait-and-see attitude, especially as LCID stock still has a
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Hi, MarketWatchers. Don’t miss these top stories. Weekend reads: There’s a recession warning as the Federal Reserve fights inflation Also, value stocks, the wild market for crude oil and a U.S. company that’s staying in Russia. Read More ‘Buyers are getting a double whammy’: Existing-home sales fall as affordability concerns mount The median sales price
Growth stocks such as Shopify (NYSE:SHOP) have cratered over the past few months. SHOP stock trades roughly 64% lower than its 52-week high price. Though the pain is unlikely to last forever, Shopify and other growth stocks will continue feeling the heat this year. Source: Burdun Iliya / Shutterstock.com Shopify’s business soared during the pandemic
Dear Quentin, My 71-year-old sister has power of attorney over my 94-year-old mother. My sister is retired and, at times, has refused to have anything to do with the family, meaning my mother and father. After my father passed away in 2011, my oldest sister has been trying to take complete control over my mother.
Quantumscape (NYSE:QS) is down 29% year-t0-date and off more than 61% from its peak on Nov. 15. The company’s latest earnings report shows no revenue, as expected, and continuing losses. However, capex was as expected. Prospects for revenue for the solid-state electric battery maker are years in the future, which is keeping QS stock down.
U.S. stock futures fell on Thursday, as oil prices renewed a march upward, following the first Federal Reserve interest rate hike since 2018 and promises of more to come. Signs of increasing escalation in the Russia-Ukraine war and worries over the progress of negotiations were also in focus. How are stock-index futures trading? S&P 500
Winter is coming for this guy. A North Carolina man was sentenced to 20 months in prison for fraudulently taking $1.7 million in Covid-19 relief loans for fake companies he created, including some which had “Game of Thrones”-themed names. Tristan Bishop Pan, 40, pleaded guilty to wire fraud last August for submitting at least 14
There’s an old trading adage that goes as follows. A stock that is down 90% is one that was down 80% and then got cut in half again. This is precisely what’s happening for many unprofitable and speculative companies such as Affirm (NASDAQ:AFRM) stock. AFRM stock is now down 80% from its 52-week highs, leading
Before we consider the opportunity in Zillow (NASDAQ:Z, NASDAQ:ZG) stock, we should acknowledge the overall risk. The situation is now ablaze in the Ukraine, but the negative rhetoric is building showdowns between the U.S. and China. Wall Street knows this, and that’s why the the CBOE Volatility Index (INDEXCBOE:VIX) is near $30. With that in
As Ukrainian President Volodymyr Zelensky on Wednesday asked Congress for more American aid, investor Peter Schiff’s reaction focused on the embattled leader’s decision to wear a T-shirt for his big speech. Schiff, a longtime market pundit and global strategist for Euro Pacific Capital, suggested that appearing in a tee was disrespectful. He tweeted: “I understand
Boy oh boy, have the meme stocks gotten some rough treatment or what? I would argue that to some extent, most of these stocks deserved this. Many meme stocks were trading to cuckoo levels, with the astronomical gains leading to silly valuations. The market was handing out multi-billion market capitalizations for some firms that didn’t
Chinese- and Hong Kong-listed stocks soared on Wednesday after China’s government pledged to support beleaguered markets. The Hang Seng HSI, +9.08% surged 9% in afternoon trade as state-run Xinhua News Agency said the government would take a number of market-friendly steps. The Shanghai Composite SHCOMP, +3.48% rose 3.5%. China’s financial stability and development committee called
Remember how exciting it was when Canadian company Tilray (NASDAQ:TLRY)bought out competitor Aphria? At the time, it was the cannabis-market merger of a lifetime. TLRY stock was supposed to soar to all-time highs. Source: Jarretera / Shutterstock.com However, people’s pot stock dreams met reality and went up in smoke. Even with Aphria’s assets, Tilray still
President Joe Biden probably needs to come up with a new pick for the Federal Reserve after key Democratic Sen. Joe Manchin announced his opposition on Monday to nominee Sarah Bloom Raskin, according to analysts. “Given that Republicans appear united in their opposition to her, Manchin’s decision is very likely to doom Raskin’s nomination,” said
Bottom-fishers who bought Occidental Petroleum (NYSE:OXY) at its novel coronavirus pandemic lows have seen their patience pay off recently. Even those who got into OXY stock “late” — after oil began to bounce back — are sitting on significant gains. Source: Pavel Kapysh / Shutterstock.com But now, whether you own it already, or looking to
Oil prices tumbled below $100 a barrel on Tuesday, to levels not seen since before the Russian invasion of Ukraine three weeks ago, as investors reassessed the huge run-up in prices seen in recent weeks. Price action West Texas Intermediate crude for April delivery CL.1, -5.98% CL00, -5.98% CLJ22, -5.98% fell 5.1% to $97.72
BRC Inc. (NYSE:BRCC) is the official name of the entity better known as Black Rifle Coffee. The company recently completed its merger with Silverbox Engaged Merger Corp. As a result, Silverbox’s ticker changed to BRCC. In the wake of the merger, BRCC stock has rallied sharply. Source: YuniqueB / Shutterstock The merger valued Black Rifle at
On Thursday, national average pump prices broke the record set just one day earlier. But even before retail gas prices broke all-time highs, drivers across the country were ready to veer into all sorts of fuel and money-saving tactics. Nearly two-thirds of drivers (59%) said they would change their driving habits if gas prices passed
Advertising platform Snap (NYSE:SNAP) has enjoyed the past month after reporting solid earnings. The market did not expect a blow-out quarter from the company but Snap proved them wrong. SNAP stock gained 23% in February and is trading in the $30s today. Source: dennizn / Shutterstock.com Although the stock is much lower than the highs it
After two tough, COVID-filled years, Carol McCoy was looking forward to a relaxing getaway. McCoy works as a registered nurse in Pompano Beach, Fla., and wanted to recharge. So last fall, she planned a trip to Cassadaga, Fla., also known as the “Psychic Capital of the World,” for this spring. She was excited to go