Share prices of Rivian Automotive ( NASDAQ:RIVN ) briefly fell to $75.13 per share on Friday before closing the session at $79.95 per share. It was the first time Rivian stock dipped below its initial public offering (IPO) price of $78 per share. The sell-off marks over a 55% drawdown from the stock's all-time intraday high of $179.47 per share set on Nov. 16, 2021. Here are arguments for and against buying the electric vehicle (EV) stock now. Image source: Rivian Automotive. Take advantage of inefficient markets Howard Smith : Markets aren't always efficient, and that's how investors can gain an advantage. While Rivian shares have dropped recently in concert with many high-growth tech names, one of the biggest dips came with the news that Amazon ( NASDAQ:AMZN ) was starting a partnership with Chrysler parent Stellantis ( NYSE:STLA ) to supplement its supply of electric delivery vans. Prior to this news, investors only knew that Amazon -- an early … [Read more...] about Rivian Stock Just Fell Below its IPO Price of $78 Per Share: Time to Buy?
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New York (CNN Business) The stock market is like that old slogan for Timex watches. It takes a licking but keeps on ticking. Sure, it's been a rocky start to the year on Wall Street following a stellar 2021. The Dow is down about 1% and the S&P 500 has fallen 2%. Trading has been volatile. But the Dow and S&P are still each just 3% below their all-time highs. Tech stocks have had a bit more of a wild ride. The Nasdaq is down 5% in 2022 and nearly 8% under its peak, putting it closer to a 10% drop known as a correction. Yet every time it looks like stocks could be heading for an even steeper drop, investors come rushing back in to buy the dips. Traders have so far mostly shrugged off temporary concerns about inflation and the Federal Reserve getting ready to raise interest rates , as well as fears over the impact that the Omicron variant of Covid-19 may have on the economy. Earnings growth has remained strong in spite of these … [Read more...] about Here’s what could rattle the stock market this year
Share to Twitter Share to Linkedin Bitcoin soared through much of 2021, helped on by the likes of Tesla TSLA and El Salvador embracing the cryptocurrency ( though Tesla CEO Elon Musk is increasingly backing the meme-based dogecoin ). Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains The bitcoin price, hitting an all-time high of almost $70,000 per bitcoin in November, has since crashed back, losing around 40% of its value and wiping $1 trillion from the combined crypto market. Now, Wall Street giant Fidelity has said other countries and even a central bank could follow El Salvador and Tesla into bitcoin this year—predicting those that buy bitcoin while the price is low "will be better off competitively than their peers." Sign up now for the free CryptoCodex —A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and … [Read more...] about ‘Astonishing’—An Investment Giant Just Advised Countries And Central Banks To Buy Bitcoin While The Price Is Low
Share to Twitter Share to Linkedin The fact that we are in the grip of a global energy crisis is now beyond doubt. In the UK there are a slew of energy businesses going into administration, and pleas for government bailouts for energy intensive manufacturers. In the domestic economy, there are spiralling numbers of old people who, having survived Covid-19, are forecast to perish unless the winter is exceptionally mild. In recent months, France has seen some of its fastest growing green energy suppliers lose customers at a rapid rate, as the green premium looks increasingly unaffordable. Hydroption, a supplier of low carbon electricity, has been placed under judicial administration after failing to pay its suppliers and debts. India has suffered too, with shortages of coal in the second half of 2021 leading to outages and curbs imposed on energy hungry industries. In China, companies in the industrial heartlands have been told to limit consumption, and … [Read more...] about Will The Energy Crisis Help Clean-Up Bitcoin?
Share to Twitter Share to Linkedin Fresh off last month’s massive $425M fundraise at a $7.4 billion valuation, Brex, an all-in-one financial services provider for small and medium-sized businesses, is launching one of the first crypto rewards programs for corporates. With the new offering, Brex’s customers, most notably Airbnb, Classpass, a subscription service that provides access to numerous fitness studios, and startup accelerator Y Combinator, will be able to exchange Brex reward points for bitcoin and ether the same way they’d redeem them for miles, gift cards, cash, or travel. Brex’s rewards partner, TravelBank, will power the zero-fee rewards redemption program, allowing users to input the amount of points they want to redeem for crypto that can then be transferred to a cryptocurrency wallet like Coinbase’s. “We’ve always believed in crypto personally” says Henrique Dubugras, co-CEO and founder at Brex. But “the watershed moment for us was when … [Read more...] about Brex Partners With TravelBank To Launch Bitcoin And Ether Rewards Program For Businesses
Share to Twitter Share to Linkedin Bitcoin and cryptocurrencies have had a dreadful start to 2022, continuing the downward trend from the end of last year as price pressures mount . Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains' The bitcoin price has lost around 40% since peaking in November, down from almost $70,000 per bitcoin to lows this week of $41,000. Meanwhile, ethereum and other major coins have also crashed back, wiping around $1 trillion in value from the crypto market since its November high . Now, Wall Street giant Goldman Sachs GS , has predicted bitcoin will increasingly compete with gold as a "store of value"—and could hit $100,000 within five years. Sign up now for the free CryptoCodex —A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday MORE FROM FORBES Crypto's … [Read more...] about $1 Trillion Crypto Crash: Goldman Sachs Reveals Huge Bitcoin Price Prediction After Ethereum Bet
- A + A (Jan 17): Analysts are denouncing Unilever Plc’s 50 billion pound (US$68 billion) offer for GlaxoSmithKline Plc’s consumer health business in unusually strong words. In a barrage of Monday morning notes, analysts criticized Unilever for pursuing the deal, saying it doesn’t make sense and would come at an eye-watering valuation. Consumer health isn’t a high-growth industry and Unilever has a bad track record for big deals, said Bruno Monteyne at Bernstein. “We can’t imagine many things that would unnerve us more about Unilever than acquiring GSK consumer health,” wrote James Edwardes Jones at RBC Capital Markets in a note titled “Please Don’t.” Unilever has no overlap with two-thirds of Glaxo’s consumer health business and little experience in regulatory issues for medical and clinical products, said Edwardes Jones at RBC. “We had been considering whether the time was ripe to abandon our underperform rating,” he added. “We’re not any more.” Investors … [Read more...] about ‘Please don’t:’ analysts scorn Unilever’s takeover ambitions