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(Bloomberg) -- The hunt for renewable energy stocks sent one obscure firm soaring more than 4,000% in a single day, albeit with a tiny amount of shares on the market.SPI Energy Co., which was trading around a buck Tuesday, rocketed as high as about $47 per share after launching a unit to design and develop electric vehicles and charging solutions Wednesday. The new unit was dubbed EdisonFuture, seemingly inspired by Thomas Edison and his rivalry with the scientist whose name has been invoked by two companies in the electric vehicle sector, Nikola Corp. and Tesla Inc. By the close of trading Wednesday, SPI stock gained 1,237% to $14 a share and triggered at least seven volatility trading halts over four hours. Trading volume Wednesday topped 340 million shares, more than 700 times its usual activity. The company has about 14.8 million shares outstanding, along with a float of about 7.4 million,...
Nikola Corp. (NASDAQ: NKLA) promised investors it would name a co-developer for its hydrogen fueling stations by the end of the year. Talks have stalled because of a short seller report attacking the integrity of the company's founder, The Wall Street Journal reported Wednesday.The Journal report kept pressure on Nikola's stock price. Shares were trading 10.84% lower at $25.42 intraday Wednesday. They have plummeted from their intraday high of $93.99 on June 8, a few days after going public in a reverse merger.Concluding the search for a station partner is one of three commitments Nikola made in April before the company went public. Nikola made good on the other pledges: On Aug. 10,, Republic Services (NYSE: RSG) ordered 2,500 battery-electric refuse trucks. Nikola announced an agreement Sept. 8 with General Motors Co. (NYSE: GM) to manufacture the Badger electric pickup truck. GM also would take an 11% stake in the company.Talks ‘with...
First mover advantage is not to be sniffed at. However, history is littered with first movers being usurped by latecomers. Could vaccine specialist Vaxart (VXRT) join the list of late disruptors?The small-cap biotech is far behind its mostly bigger competitors in the development of a COVID-19 vaccine. Yet, after its investigational new drug (IND) application was approved by the FDA last week, Vaxart can finally proceed with the Phase 1 trial of its candidate, which is expected to kick off by the end of the month.H.C. Wainwright analyst Vernon Bernardino believes the biotech’s offering already boasts one significant differentiator to mark it as a viable contender.“We believe initiation of first-in-human studies with an oral vaccine for SARS-CoV-2 is highly anticipated, as this route of administration, in our opinion, would present significant logistical storage and distribution advantages in the broad and rapid vaccination of the estimated 330M people in the U.S. and...
On CNBC's "Fast Money Halftime Report," Jim Cramer advised a young investor to invest a half of his portfolio to risky asset. He explained that the viewer can buy an aggressive growth fund or he can try to pick stocks. The other half should be invested in the S&P500, thinks Cramer.Joe Terranova thinks it's time to buy Old Dominion Freight Line Inc (NASDAQ: ODFL). He thinks it's a quality transport name and it has 100% U.S. exposure.Stephanie Link likes Advanced Micro Devices, Inc. (NASDAQ: AMD). It's a new long position for her. She said Intel gave it a three-year lead in 7-nanometer processors and she sees that as a game changer.Karen Firestone said salesforce.com, inc. (NYSE: CRM) had an incredible quarter and the stock jumped 26%. It has come back over 10%. She likes Salesforce a lot and she would hold it. She added that it's definitely not a cheap stock.See...
PPP is a better option than the Fed's lending facility, Powell said....
Investors are laser focused on the impact of the elections as President Trump’s odds of winning reelection continue to align with stock prices....
Shares of Twitter jumped on Wednesday, outperforming the broader market, following an upgrade at Pivotal Research Group. The firm also boosted its price target on the stock to $36. The bullish call comes on optimism for advertising as live sports and events return and a potential subscription business. The Final Round panel discusses....
