On Friday, the EV market received a jolt as Swedish electric performance carmaker Polestar began trading on the Nasdaq after going public via a SPAC transaction. Shares, trading under the ticker “PSNY,” opened the trading day valued at $13.30 but sank to less than $11 as of midday. advertisement advertisement Polestar is the latest high-profile company to go public during a rather tumultuous time on the market—and also to do so using a SPAC deal. Sustainable consumer-products company Grove Collaborative likewise went public a week ago. But Polestar, which itself was spun off from its parent company, Volvo, is among a slew of other EV makers that have gone public in recent years, such as Rivian , Fisker , Nikola , and Lordstown Motors. “By 2025, we aim to be selling 290,000 cars per year, 10 times as many as we sold in 2021,” said Thomas Ingenlath, CEO of Polestar, in a press release . “We already have a real and … [Read more...] about Polestar goes public: What to know about the electric vehicle company’s SPAC merger
Top publicly traded 3d printing companies
This beer brand turned printing error into prize draw, sold 1 crore litres a month
The cans with the printing error bore the company slogan ‘Disfrute’ -- which means "enjoy" -- but without the "s". (Image credit: @frankramirezp/Twitter) Last year, when Heineken-owned beer brand Tres Cruces was about to launch its Tres Cruces Light in Peru, it shipped 3 lakh cans of the liquor to its retailers before realising that there was a printing error on the packaging. The cans bore the company slogan ‘Disfrute’ -- which means "enjoy" -- but without the "s". But, instead recalling the cans ahead of the launch, Tres Cruces turned it into an opportunity and gave customers the chance to win a prize if they located a can with the faulty slogan, reported creative marketing service Contagious . Between 1 April and 30 April 2021, those finding cans with the missing ‘S’ were asked to post their details on a dedicated microsite with the code printed at the bottom of the can. Read more: Singapore is brewing beer from sewage, urine. Internet is aghast Close … [Read more...] about This beer brand turned printing error into prize draw, sold 1 crore litres a month
Behind Ace Hotel Founder Alex Calderwood’s Creative Life And Untimely Death
You know the place, even if you haven’t been there. advertisement advertisement From the outside, it has a spare, severe look. But inside, past the flower stall and barbershop, the vibe is serene and hushed. Long tables and worn leather chairs invite people to cluster; the scent of locally roasted coffee mixes with the sound of the nearby photo booth, whirring in the background. There are vintage records on the shelves and slinky indie pop on the speakers, and the late afternoon sunlight makes puddles on the century-old wood floor. The feeling is both of the moment and timeless. To a remarkable extent, this place, the Ace Hotel, is the brainchild of a single man, a lean, mop-haired native of the Pacific Northwest named Alexander Calderwood. A kind of hipster polymath, he was able to look around the corners of culture and see what was coming years, if not decades, before everyone else. In his 20-year career, Calderwood cofounded a barbershop, a … [Read more...] about Behind Ace Hotel Founder Alex Calderwood’s Creative Life And Untimely Death
The Disturbing Focus Of Juul’s Early Marketing Campaigns
Share to Twitter Share to Linkedin A print Juul advertisement that ran in Vice Magazine in 2015 as part of the e-cigarette company'’s ... [+] launch campaign, “Vaporized.” Juul 'Vaporized' ad in 2015 via Stanford Research Into the Impact of Tobacco Advertising Juul Labs, the maker of the most popular U.S. e-cigarette, is growing meteorically—on track to generate an estimated $1 billion in sales this year, up more than 300% from a year ago. However, its products haven’t only gained traction among smokers trying to wean themselves off cigarettes. They are also a hit with teenagers. What medical experts are calling a Juul-driven “youth nicotine epidemic” is gaining heightened attention from regulators like the Food and Drug Administration, which on Thursday said it is seeking a nationwide ban on menthol cigarettes and flavored cigars and will sharply restrict the sales of fruity-flavored nicotine vaping cartridges. Juul, likely aware of the … [Read more...] about The Disturbing Focus Of Juul’s Early Marketing Campaigns
These Airbnb Founders Have Sold More Than $1 Billion Worth Of Stock Combined In The Past Year
Share to Twitter Share to Linkedin It’s been a rollercoaster ride for shares of Airbnb since the online home rental firm went public in December 2020. Shares rose in the second half of last year, peaking at just over $207 in November. Now they’re trading for about 50% less, following a decline in many U.S. stocks. One of Airbnb’s three billionaire cofounders has continued to sell shares monthly despite the stock plunge. Since June 15, 2021, Joe Gebbia, who is head of Airbnb’s nonprofit arm, has sold 5 million shares worth $713 million. He’s been selling at a rate of 200,000 to 700,000 shares a month, as recently as this month—parting with 8% of his stake in the company. After taxes, Forbes estimates Gebbia took home at least $450 million. Per Securities and Exchange Commission filings, those transactions were part of a predetermined trading plan. The only exception was March of this year, when Gebbia sold 1.4 million shares for a pretax total of $215 … [Read more...] about These Airbnb Founders Have Sold More Than $1 Billion Worth Of Stock Combined In The Past Year
Chinese firms are dominating key parts of Hong Kong’s economy
- A + A (June 28): Half way to the point when Hong Kong will officially be enveloped by China, Beijing is not just calling the shots politically, but in vast swathes of the city’s US$344 billion economy. From the stock exchange to brokerages, construction projects to the retail sector, Chinese state-controlled firms are increasingly dominating, taking market share away from the local tycoons and British trading houses that thrived under the final decades of UK rule. Those behind the growing Chinese influence view Hong Kong’s economy as stagnant, slow to embrace the technology-driven, new economy industries that have been catalysts for growth on the mainland. Chinese enterprises have been handed more political power in the city, including a recent revamp of the electoral system that reduced the influence of local businesspeople and added greater representation for state-backed companies. “Hong Kong has come to a crucial crossroads,” said Simon Lee, a Hong Kong … [Read more...] about Chinese firms are dominating key parts of Hong Kong’s economy
Lesson For McDonald’s: Beware The Tax Whistleblower Unions
Share to Twitter Share to Linkedin Now that McDonald’s has agreed to pay France a blockbuster €1.25 billion in back taxes and fines, labor unions are calling the settlement a success for union activism in the corporate tax space. The story dates back to 2015, when a coalition of European and U.S. labor organizations (the European Federation of Public Service Unions; the European Federation of Food, Agriculture, and Tourism Trade Unions; and the Service Employees International Union) and the U.K.-based antipoverty organization War on Want accused McDonald’s of avoiding over €1 billion in taxes in Europe by purposefully restructuring its European operations to take advantage of favorable tax rates in specific countries. The groups were concerned about some restructurings McDonald’s undertook in 2009 to move its European headquarters from the United Kingdom to Switzerland and route its intellectual property to a new IP holding company based in Luxembourg. … [Read more...] about Lesson For McDonald’s: Beware The Tax Whistleblower Unions