CEO of Lucid says the start-up will be valued like Tesla in the future
Peter Rawlinson, the CEO of Lucid thinks that there’s a bright future for the company and believes that the start-up’s stock and market cap will surpass tesla and other automakers
Currently, Lucid’s market cap is around $73 billion and is approaching the market cap of Ford at $79.4 billion
New report says Walmart topped its earnings estimates despite rising inflation
For Walmart’s third-quarter fiscal earnings, it topped the expectations of analysts as grocers looking for deals came to its stores during a time of rising costs for household goods
Inventory for Walmart in the U.S. is up 11.5% ahead of the busy shopping season, Doug McMillon, the CEO of Walmart, said
After offering 23.9 million shares at $46 each, Peloton nets $1 billion
On November 16, Peloton says that it plans to sell about 23.9 million shares of its Class A common stock at a price of $46 a share which has netted the company about $1.07 Billion
In its announcement Tuesday, the connected fitness equipment maker said the proceeds would be used for general corporate purposes like construction and investment in new products
Oil giant, Shell plans to move its headquarters to the UK
In an effort to simplify the company’s structure, Royal Dutch Shell will soon ask shareholders to vote on shifting its tax residence from the Netherlands to the UK
In addition to this, Shell wanted to eliminate its dual share structure in favor of just one class of shares
United States plans to sell crypto worth $56 million after record seizure in fraud case
As a part of a large Ponzi scheme case against a man who promoted a crypto lending program “BitConnect”, the US Justice Department will sell $56 million worth of seized crypto
According to authorities, the liquidation of this cryptocurrency follows “the largest single recovery of a cryptocurrency fraud by the United States to date.”
K Buenavista
Mr. Buenavista is a writer that specializes in breaking down complex topics into easy to understand formats that appeal to a wide range of news seeking readers, without missing the important details. He handles a majority of the daily news reporting at Easy-Ad, and has written on many other websites. He resides in Southern California.