Xpeng, a Chinese electric car company, recently introduced its new mass-market brand called Mona, offering electric coupes with prices starting as low as $16,812. This move has caused a stir in the industry, especially since the prices of Mona’s vehicles are significantly lower than Tesla’s cheapest Model 3. The company reported that orders for the
The recent performance of the Russell 2000 has investors concerned about its profitability. After a 10.1% gain in July, the index has dropped approximately 4% in August. ALPS’ Paul Baiocchi attributes this volatility to the index’s composition, citing Apollo Global’s estimate that 40% of companies included in the Russell 2000 have negative earnings. Investors have
Dallas Mavericks and New Orleans Pelicans fans are eagerly anticipating the upcoming NBA season, not only for the games themselves but also for a new way to watch local games. Both teams are parting ways with their regional sports networks owned by Diamond Sports, according to a recent bankruptcy court filing. The NBA season is
As consumers eagerly await the Federal Reserve’s interest rate cut, another crucial event is coming up that could significantly impact the real estate market – the reauthorization of the National Flood Insurance Program (NFIP). Established by Congress in 1968, the NFIP is the primary flood insurance provider in the United States, offering coverage to millions
In a recent note to investors, research firm MoffettNathanson highlighted the need for Amazon to boost profitability in its retail business. With the AWS cloud unit currently contributing a significant portion of the company’s profits, there is pressure on the retail operations to step up and fill the gap as the cloud unit’s growth potential
Tax-gain harvesting is a lesser-known strategy that can be utilized to rebalance your portfolio and potentially save on future taxes. This tactic involves strategically selling profitable assets in your brokerage account during lower-income years, such as the early years of retirement or periods of unemployment. The goal is to realize gains at a 0% rate,
The world has witnessed a staggering 95% increase in the population of crypto millionaires over the past year, driven by the exponential growth of bitcoin exchange-traded funds and other crypto assets. According to a recent report by New World Wealth and Henley & Partners, there are now 172,300 individuals globally holding more than $1 million
The fast-casual restaurant brand, Cava Group, saw a significant increase in its share price by almost 6% following a positive earnings report. The company exceeded expectations by reporting a profit of 17 cents per share, which was 4 cents higher than what was estimated by LSEG. Additionally, their revenue also surpassed expectations. Uber On the
Edgar Bronfman Jr. has made an offer for a controlling stake in Paramount Global that could potentially keep Shari Redstone closely linked to the company. If Bronfman’s bid is successful, he is open to allowing Redstone, who currently serves as the non-executive chairman at Paramount, to remain involved with the company. This move comes as
The Inflation Reduction Act has had a significant impact on rural communities in the U.S., sparking a manufacturing boom that has attracted tens of billions of dollars in investment. The legislation, signed into law by President Joe Biden in August 2022, has led to a surge in clean energy technology and electric vehicle manufacturing investments.