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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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The ZIM Integrated (NYSE: ZIM) and Star Bulk Carriers (NASDAQ: SBLK) stock prices have plunged hard this week, continuing a trend that started last week. SBLK shares crashed to a low of $24.5 on Tuesday, down by 7.6% from its highest point this year. Similarly, ZIM Integrated’s shares crashed to $17.65, down by over 25% from the highest level this year. Other shipping-related stocks like Maersk, Golden Ocean Group, and Costamere have also retreated sharply recently. Israel and Hamas ceasefireZIM and SBLK stock prices have tumbled hard because of the ongoing happenings in the Middle East where ...
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Lilium (LILM) and Archer Aviation (ACHR) stock prices have crashed hard in the past few years, costing investors billions of dollars. Archer’s shares have plunged by over 81% from the highest point in February 2021. Its market cap has dropped from over $2.12 billion in 2021 to $1 billion today. Most eVTOL stocks have plungedSimilarly, the Lilium share price has plunged from the all-time high of $15.56 to less than $2, bringing its valuation from $2.8 billion to $600 million. The same has happened among other eVTOL companies like Joby and Blade Air Mobility, whose shares are significantly lower...
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Zim Integrated Shipping Services Ltd (NYSE: ZIM) is trading about 10% down in premarket on Tuesday after reporting worse than expected per-share earnings for its fiscal first quarter. Zim Integrated’s guidance for the futureThe stock is taking a hit even though the cargo transport company raised its guidance for the full year. $ZIM now forecasts its adjusted EBITDA to fall between $1.15 billion and $1.55 billion in 2024. Eli Glickman – chief executive of the New York listed firm said in a press release today: Looking ahead, we now expect freight rates to remain stronger for longer than initial...
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Cruise stocks are in the green at writing after Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) talked of “very strong demand” at its investor conference on Monday. Norwegian Cruise Line raised full year outlookNorwegian raised its profit guidance for the full year and laid out a three-year plan aimed at increasing shareholder returns at its investor day. The cruise lines operator is calling that strategy “Charting the Course”. $NCLH cited “record bookings” and said it now expects to earn $1.42 per share on an adjusted basis this year. Analysts, in comparison, were at $1.36 a share. The cruise...
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Intuitive Machines Inc (NASDAQ: LUNR) is down about 10% on Tuesday even though it reported better-than-expected revenue for its first financial quarter. Why is Intuitive Machines stock down on Tuesday?The stock is taking a beating primarily because the management failed to impress with its future guidance. $LUNR forecasts its revenue to fall between $200 million and $240 million in fiscal 2024. Analysts, in comparison, were at $268 million. Still, Steve Altemus – the chief executive of Intuitive Machines said in a press release today: We had an excellent start to the year, anchored by our succ...
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ZIM Integrated (NYSE: ZIM) stock price has gone parabolic this week as investors focus on the rising global shipping rates and the potential for dividends. It has risen for six consecutive weeks, reaching its highest swing since May 2023. It has soared by over 175% from its lowest point in 2023, outperforming the S&P 500 and Nasdaq 100 indices. Global shipping costs are risingZIM, one of the biggest shipping companies, is benefiting from the rising prices, which could see it turn a profit this year. The closely watched Drewry World Container Index (WCI) soared to $3,159 last week. While that p...
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Norfolk Southern Corp (NYSE: NSC) is in focus this morning following a report that Ancora Holdings is close to winning board representation at the freight railroad operator. How many seats has Ancora won on $NSC board?Counting of votes is still ongoing but the activist hedge fund has already secured adequate support to win seats on the board of $NSC, as per sources that talked to Reuters on condition of anonymity. Norfolk Southern is scheduled for an annual meeting of shareholders later today. The total number of seats that Ancora has secured remains unclear, the sources added. The news arrive...
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Royal Caribbean Group is embarking on a massive recruitment drive, planning to hire around 10,000 workers in 2024 to staff its ships and private destinations amid record-breaking demand for cruises. Royal Caribbean’s global search for employeesWith cruise bookings reaching all-time highs, Royal Caribbean is engaging with tourism boards and port operators worldwide to fill the growing need for labor. This global recruitment effort spans from the Caribbean to places as far afield as The Gambia, highlighting the company’s expansive approach to sourcing talent. The cruise operator currently employ...
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Lyft stock (NASDAQ:LYFT) has jumped in the after market hours following the release of its first-quarter earnings report, which surpassed market expectations. The positive earnings report helped Lyft recoup the losses incurred today due to the compromise rideshare driver pay rates in Minnesota. Earlier today, Minnesota lawmakers and the Minneapolis City Council reached a compromise on rideshare driver pay rates of $1.27 per mile and 49 cents per minute, which are lower than initially proposed. The rates stirred concerns among rideshare giants Uber Technologies, Inc. (NYSE:UBER) and Lyft Inc. a...
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