manufacturing
Super Micro Computer Inc (NASDAQ: SMCI) was among the most shorted S&P 500 tech stocks in May. Shares of the AI firm are up close to 200% for the year at writing. What was Supermicro stock short interest in May?Information technology weighs the most on the benchmark index and bets against it were up at large last month. In May, short interest in the S&P 500 tech stocks climbed to 1.56% on average versus 1.42% in April. But short interest in the high-flying SMCI stock far exceeded the average. At 7.26%, it was behind only two names in S&P 500 technology stocks in terms of short interest: Enphas...
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Joby Aviation (NYSE: JOBY) stock price has collapsed hard this year. Like other eVTOL companies like Liliumand Archer Aviation, it has crashed by over 25% in 2024 and by 35% in the past 12 months. It has plunged by over 57% from its highest level in 2023, giving it a market cap of over $3.8 billion. Market size concernsJoby Aviation, one of the biggest eVTOL companies in the industry, has made a lot of progress as it matches towards certification. It has become the first electric taxi company to have its final airworthiness published by the FAA. The company has also carried out intensive tests...
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Lilium (NASDAQ: LILM) stock price has plummeted hard this week as demand for the electric vertical take-off and landing (eVTOL) shares waned. It collapsed to a low of $0.8250, its lowest swing since April 16th. It has plunged by over 40% from its highest point this year and by more than 56% from its highest level in 2023. Good progress but balance sheet issues remainLilium’s shares have plunged hard in the past few years, pushing its market cap to about $520 million. At its peak, it had a market cap of over $2.1 billion as demand for eVTOL companies rose. The recent crash happened as investors...
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Nike Inc (NYSE: NKE) has lost about 10% this year but a Deutsche Bank analyst is convinced the story moving forward will be a different one. Nike stock has upside to $115Krisztina Katai resumed coverage of Nike stock this morning with a “buy” rating. Her $115 price target suggests about a 22% upside from here. The Deutsche Bank analyst is bullish as the sports footwear and apparel firm has been devoted to innovation ahead of the Paris Olympics this year. Her research note reads: $NKE is at the onset of a multi-year innovation cycle that’s likely to deliver top-line growth ahead … with bigger s...
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Ford Motor Co (NYSE: F) opened in the red today after announcing plans of ending its EV dealership programme. Why is Ford pulling the plug on EV-certified?The initiative dubbed “EV-certified” was announced amidst exceptional demand for electric vehicles in September 2022. But $F is pulling the plug on that programme as the EV optimism is now fading fast. The legacy automaker is still growing its electric vehicles sales but at a pace that far lags its initial expectations. “The world has changed. The growth has slowed down”, said Marin Gjaja – the chief operating officer of Ford Motor’s Model e...
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Tesla Inc (NASDAQ: TSLA) is pushing to the upside this morning after shareholders voted in favour of a $56 billion pay package for chief executive Elon Musk. What Musk’s pay package approval means for Tesla stock“Thanks for your support!!,” is what the billionaire wrote on X.com on Thursday – adding that his pay package was approved by a wide margin. Backing from his investors this morning removes a significant headwind from $TSLA, as per a senior Wedbush Securities analyst Dan Ives. This removes a $20 to $25 overhang on the stock in our opinion that has weighed on shares since the head-scratc...
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Nikola (NASDAQ: NKLA) stock price has slumped to a record low even as the company continues to make progress. It has plunged by over 42% this year in line with the performance of other similar companies like Tesla, Nio, Lucid Group, and Rivian. Nikola has made some progressNikola’s share price has collapsed as concerns about its significant losses, demand, and balance sheet continued. Its net loss in the last quarter stood at over $147 million after it lost over $169 million in the same quarter in 2023. The company’s annual loss stood at over $966 million in 2023 from $784 million a year earli...
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Broadcom Inc (NASDAQ: AVGO) is gaining in extended trading on Wednesday after coming in handily above Street estimates for its fiscal second quarter on strong AI demand. Broadcom stock climbs on future guidanceInvestors seem content also because the management issued upbeat guidance for the future. $AVGO now forecasts about $51 billion in revenue in its fiscal 2024. Analysts, in comparison, were at billion. Hock Tan – the chief executive of Broadcom Inc said in a press release today: Revenue from our AI products was a record $3.1 billion during the quarter. Infrastructure software revenue acce...
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Tesla Inc (NASDAQ: TSLA) has been a disappointment for shareholders this year but famed investor Cathie Wood is sticking to her ultra bullish view on the electric vehicle behemoth. Tesla stock could 15x by 2029Shares of the EV giant will hit $2,600 by 2029, as per the latest projection from Ark Investment Management. Tesla is expected to reveal its much-awaited robotaxi in early August (read more) which her hedge fund forecasts will make up about 90% of its enterprise value by 2029. Meanwhile, electric vehicles could approximate a quarter of total sales and ~10% of Tesla’s earnings potential, ...
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Nio Inc (NYSE: NIO) is slipping in premarket on Wednesday after the European Union announced a significant increase in tariffs on Chinese electric vehicles. Details of new EU tariffs on $NIOThe bloc has decided in favour of slapping up to 38.1% tariff on imports of China-made EVs that it said benefits “heavily from unfair subsidies” that undermine the producers in Europe. Still, Nio Inc remains committed as ever to expanding in Europe. It did, however, condemn the massive increase in tariffs the EU Commission announced on Wednesday. Nio will continue to serve our users and explore new opportun...
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