Disney stock continues to fall as inflation increases
- Shares of Disney have continued to be negative for this year in 2021 and remain behind the S&P 500 Index Return
- As Disney’s3rd quarter earning swerve announced, it shows that streaming subscriber additions slowed down and costs for its content and Parks business rise
GM aims to produce vehicle-based on Hummer EV for the US military in 2022
- According to company officials from General Motors, the eLRV from GM Defense is expected to be based on the company’s Hummer EV
- The new vehicle will use and change components of the Hummer EV like the motors, frame, and the automaker’s “Ultium” batteries starting in 2022
Major fast-food restaurants affected by labor shortages
- For the entire fast-food industry, the unemployment rate fell by 7% in September 2021, while food services and drinking establishments added almost 120,00 new jobs during the same month
- Fast-food chains like Burger King and Taco Bell have reported that the lack of workers is causing restaurants to cut back open hours and some menu items
Past GM factory of Lordstown Motors bought out by Foxconn for $230 million
- By the end of April 2022, Foxconn plans to sign a contract to assemble Lordstown Motors’ first vehicle, an all-electric pickup truck named the “Endurance”
- Both companies benefit as EV start-up Lordstown Motors get desperately needed capital, and Foxconn gets to go into the EV space by producing fully electric trucks
- After the news, shares of Lordstown rose more than 13%
Elon Musk has sold more than 3.5 million shares of Tesla stock valued at over $3 billion
- In a series of trades that happened on November 8 and 9, Elon Musk sold more than 3.5 million shares that are worth over $3.88 billion
- Filings show that Musk had planned to sell a block of Tesla shares set in motion on September 14, 2021
- Musk still currently holds over 166 million shares in Tesla
