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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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
(Agence France-Presse) (The Jakarta Post) PREMIUM Manila ● Tue, January 18 2022 The Philippines will buy 32 new Black Hawk helicopters for more than US$620 million, the defense secretary said on Sunday, in the nation's latest big-ticket purchase to upgrade its aging military capability. For the past decade, Manila has been trying to modernize its run-down military equipment featuring Vietnam War-era helicopters and World War II naval vessels used by the United States. The first of the 32 S-70i Black Hawks from a Polish firm owned by US defense manufacturer Lockheed Martin will begin to arrive next year, Defense Secretary Delfin Lorenzana said on Facebook. to Read Full Story SUBSCRIBE NOW Starting from IDR 55,000/month Unlimited access to our web and app content e-Post daily digital newspaper No advertisements, no interruptions Privileged access to our events and programs Subscription to our newsletters We accept … [Read more...] about Philippines to buy 32 new Black Hawks
Representative image Consumer goods giant Unilever said it had approached Glaxosmithkline about buying the pharmaceutical group's consumer goods arm after a newspaper reported that a 50 billion pound ($68.4 billion) offer it made had been rebuffed. "GSK Consumer Healthcare is a leader in the attractive consumer health space and would be a strong strategic fit as Unilever continues to re-shape its portfolio," Unilever said in a statement on Saturday. "There can be no certainty that any agreement will be reached." GSK did not immediately respond to a request for comment. Earlier, Britain's Sunday Times said the Unilever bid for the business was worth roughly 50 billion pounds, and had been rejected as too low by GSK and Pfizer, which owns a minority stake in the division. Close The approach by Unilever, which owns brands such as Dove soap and Marmite, for Glaxo’s portfolio of household brands including Panadol painkillers and Sensodyne toothpaste was … [Read more...] about Unilever says it wants to buy GSK’s consumer goods arm
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × HDFC Bank's share price rose marginally in early trade on January 17 after the private sector lender reported results for the quarter ended December. The bank on January 15 clocked standalone net profit of Rs 10,342 crore for the quarter, up 18 percent year-on-year, backed by decline in bad loan provisions. Net interest income, the difference between interest earned and interest expended, climbed 13 percent to Rs 18,444 crore, with net interest margin at 4.1 percent, and credit growth clocking a healthy 16.4 percent. Profit and net interest income grew 17 and 4.3 percent respectively on a sequential basis. Catch all the market action on our live blog Close Here is what brokerages have to say about the stock and the company: Macquarie The research house has kept … [Read more...] about What should investors do with HDFC Bank after Q3 earnings; buy, sell or hold?
Share to Twitter Share to Linkedin Two weeks ago, the beer and spirits business contributor to Forbes began her annual year-in-review article by noting that 2021 had not grabbed headlines for merger and acquisition activity. Then 2022 promptly began with a succession of newsworthy mergers and acquisitions. The new shape of these transactions suggests the industry had better buckle up for a year of unprecedented transformation at the ownership level. The year also started with the bittersweet story that the founder of a major global craft brewery had finally buckled under pressure and admitted to tolerating an abusive culture for women months after widespread allegations of toxicity at his workplace had gone public. As the #MeToo movement in beer enters its second year , the reckoning has far from quieted. But along with accountability, the impending judgments hold promise for far more tangible — and some argue, productive — relief. 2022 threatens to thrust … [Read more...] about Prepare For Sticker Shock At The Beer Shelf, Plus More Predictions For The Year In Beer
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
File image of US President Joe Biden (AP Photo/Alex Brandon) Joe Biden was Barack Obama’s vice president. His Treasury secretary, Janet Yellen, was Obama’s pick to lead the Federal Reserve. The director of Biden’s National Economic Council, Brian Deese, was deputy director of Obama’s National Economic Council. His chief of staff, Ron Klain, was his chief of staff for the first two years of the Obama administration and then Obama’s top Ebola adviser. And so on. The familiar names and faces can obscure how different the new administration, in practice, has become. The problems Biden is facing are an almost perfect inversion of the problems Obama faced. The Obama administration was bedeviled by crises of demand. The Biden administration is struggling with crises of supply. For years, every conversation I had with Obama administration economists was about how to persuade employers to hire and consumers to spend. The 2009 stimulus was too small, and while we avoided a second … [Read more...] about This isn’t the presidency Joe Biden imagined for himself
Oilmeals export fell 67 per cent to 1.7 lakh tonne in December with Indian products being uncompetitive in the global market, according to industry body SEA. In a statement, the Solvent Extractors’ Association of India (SEA) said 1,70,338 tonne of oilmeals were exported in December 2021 compared to 5,16,006 tonne in the year-ago period. The fall in exports is mainly due to decline in export of soybean and rapeseed meal, it added. The overall export of oilmeals during April-December 2021 fell 28 per cent at 17,66,687 tonne as compared to 24,67,564 tonne in the corresponding period of the previous year. "Soybean crush margins in India are currently squeezed by pressure on meal prices and relatively high price expectation of farmers for soybean seed which is currently quoted over Rs 6,300 per quintal," SEA said. At present, the association pointed out that India is outpriced for soybean meal export. The prices of ex. Kandla are quoted at USD 750 against Brazil origin USD 535 … [Read more...] about Oilmeals export down 67% to 1.7 lakh tonne last month; 28% fall in April-December
O n a Monday in April, Shannon Spanhake stood at the front of Cleo’s office as her executive team lined up beside her. It had been only a few months since her parenting benefits startup had raised its latest round of funding—$27.5 million from blue-chip venture capital firm NEA—and Cleo’s CEO and cofounder was telling staff to push harder. A lot harder. The San Francisco-based company’s 50-person workforce needed to spend more time in the office and raise their performance to what she considered “an A-plus-stage appropriate team,” according to four former and current employees who heard the talk. She wanted no complainers. There was not enough hustle and not enough presence at work. One bullet point from the slideshow spelled it out: “Expect to work 50- to 60-hour weeks.” Her presentation got cut short before she could get to the next part. The company’s work-from-home policy was being eliminated. The harangue stunned some of Cleo’s employees, who felt that it flew in the … [Read more...] about Exclusive Investigation: How Lies And a Troubled Workplace Brought Down The Founder Of $115 Million Cleo