Joby Aviation stock surged to $9 on Wednesday, its highest point since January this year, and 78% from its lowest level this year. This surge brought its market cap to over $7 billion, making it the biggest eVTOL company in the US. Toyota invests in Joby AviationThe main catalyst for the…
A US federal court ruling on Wednesday that blocked President Donald Trump’s controversial “Liberation Day” tariffs offered a brief reprieve to markets rattled by months of trade policy turbulence. Investors cheered the legal development, though analysts warned that the long-term outlook remains clouded by continued legal appeals and growing fears…
The Reserve Bank of India (RBI) is taking new steps to expand the utility of the digital rupee by introducing cross-border use cases in the next phase of its central bank digital currency (CBDC) development. The central bank announced its intention to roll out international functionalities for the digital rupee…
Hailey Bieber’s beauty brand Rhode has been acquired by Elf Beauty for $1 billion, pending regulatory approvals, in one of the biggest celebrity beauty transactions to date. The deal, announced on Wednesday, marks a defining moment for celebrity-led ventures in the skincare and cosmetics sector, with Rhode joining Elf’s growing…
Marvell Technology stock price has come under pressure in the past few months as concerns about its growth and valuation have remained. After peaking at $127.40 in January, it crashed by 62% to a low of $47.29. This crash has led to a $53 billion wipeout as the market cap…
Tempus AI Inc (NASDAQ: TEM) came crumbling down on Wednesday after Spruce Point announced a short position in the Chicago headquartered health technology company.Spruce Point cited several reasons, including account irregularities and eroding ties with key clients like AstraZeneca, for its bet against the Nasdaq listed firm.Tempus AI shares have…
US President Donald Trump dismissed the criticism, saying that he is bluffing countries with tariffs and backing out after the market sell-off. The criticism increased after Trump backed off the 50% tariff threat made against the EU last week. A decision that initially triggered a major market selloff, followed by…
Okta stock price suffered a big reversal this week, making it one of the worst-performing companies. It crashed by over 16% on Wednesday, erasing some of the gains made since April 7. It was trading at $105.23, its lowest level since April 28, and 17% below the highest point this…
Nvidia Corp (NASDAQ: NVDA) chief executive Jensen Huang says the White House has based its export regulations on the assumption that China is incapable of making its own AI chips.But recent checks confirm this assumption is fundamentally flawed, he argued on the company’s earnings call last night, adding “the question…
Anticipation is building in the oil market as the OPEC+ meeting approaches, with a production decision expected over the weekend. The eight cartel members who previously implemented voluntary production cuts are now contemplating a substantial rollback of these cuts in July. The eight members of the Organization of Petroleum Exporting Countries and…