Will the Apple Car Dethrone Tesla?
Apple Inc. (Nasdaq: AAPL) is known for its smartphones, laptops and wearables.
Now it’s looking to dominate the electric car market.
The Apple Car could be on the roads as soon as 2025.
But can the tech giant really compete with Tesla and other automakers?
In today’s video, Steve Fernandez and I discuss Apple’s ambitious plans.
(If you’d prefer to read a transcript, click here.)
Editor, Strategic Fortunes
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UWM Holdings Corp. (NYSE: UWMC) is a residential mortgage lender that is up 18% this morning. The move came after it decided not to go through with a planned secondary offering and announced that it would be accelerating its previously announced share repurchase program.
Kornit Digital Ltd. (Nasdaq: KRNT) develops sustainable and on-demand digital fashion and textile production technologies. It is up 14% today after announcing the pricing of an upsized underwritten public offering of 2.6 million common shares.
Cassava Sciences Inc. (Nasdaq: SAVA) is a clinical-stage biotechnology company that develops drugs for neurodegenerative diseases. The company is up 13% on the news that it kickstarted the second Phase 3 study to evaluate the safety and efficacy of Simufilam, its Alzheimer’s drug candidate.
Galaxy Digital Holdings Ltd. (OTC: BRPHF) is an asset management firm that operates in the digital asset, cryptocurrency and blockchain technology industry. It is up 12% on the announcement of its partnership with global media brand Time to popularize the metaverse and educate readers about a digital future.
AvidXchange Holdings Inc. (Nasdaq: AVDX) provides accounts payable automation software and payment solutions for middle-market businesses and suppliers in North America. It is up 12% after posting strong earnings earlier in the week and announcing Thursday that it was exploring an international expansion.
Lithium Americas Corp. (NYSE: LAC) is a Canadian lithium miner that is up 11% today. The move came after it said it would buy Argentinian miner, Millennial Lithium, for $400 million, outbidding an offer from China’s Contemporary Amperex Technology.
Silvergate Capital Corp. (NYSE: SI) is a bank that is known for its cryptocurrency-based platforms and products. It has no news of its own to report this morning. Rather it is up 10% thanks to the reversal of the recent downtrend in the crypto markets.
Rover Group Inc. (Nasdaq: ROVR) operates an online marketplace for pet care worldwide. It is up 10% this morning on a bounce-back after falling earlier in the week on the announcement of poor earnings and a secondary offering.
China Evergrande Group (OTC: EGRNF), the struggling Chinese property developer, is up 10% after announcing that its electric vehicle division is raising about $347 million from a share sale to fund production of new electric vehicles.
Plug Power Inc. (Nasdaq: PLUG) provides hydrogen fuel cell solutions for the electric mobility and power generation markets. It is up 9% after analysts at Morgan Stanley raised their price target on the stock thanks to the company’s great Q3 earnings report.
My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.