https://www.youtube.com/channel/UCX_D7Rd1tQMcrmPJkl5DqlQ

dhandho, Ahmedabad (2025)

12/06/2023

Do you know?

Snow goggles are a type of eyewear that were invented by the Inuit and Yupik peoples of the Arctic to protect their eyes from the harmful effects of sunlight reflecting off the snow. Snow blindness, or photokeratitis, is a painful condition that can cause temporary vision loss and inflammation of the eyes. To prevent this, the Inuit and Yupik people carved snow goggles out of various materials, such as driftwood, bone, ivory, antler, or grass. They shaped the goggles to fit their faces and cut narrow slits in the front to reduce the amount of light entering their eyes. They also sometimes applied soot to the inside of the goggles to reduce glare. The slits also improved their visual acuity by creating a pinhole effect. The Inuit and Yupik people used different words for snow goggles in their languages, such as ilgaak, iggaak, nigaugek, igguag, or iyegaatek.

21/12/2022

Cenntro Electric (NASDAQ:CENN) stock fell 15% on Dec. 19 as it prepared to launch its Logistar electric van at the Consumer Electronics Show (CES) on Jan. 5.

The Logistar 300 can be configured as a van or truck and has a range of 273 miles with a top speed of 75 mph. It is being marketed as a delivery vehicle. One version includes an independent refrigerator.

CENN stock opened this morning at about 31 cents per share. It has failed to trade over $1/share for over two months. At the start of 2022, it sold for about $4/share. The company’s market capitalization is about $80 million.

The Cenntro Story

Cenntro said it sold 307 trucks in the first half of the year, bringing in $5 million. But it had a net loss of $23.7 million. At the end of June, it reported $183 million of cash and a negative operating cash flow of $28.5 million over six months.

Cenntro came public in 2021 by acquiring Naked Brands Group, an Australian maker of intimate apparel. The deal acted like a S**C, with Naked Brands as the shell. CEO Peter Z. Wang is a serial entrepreneur with extensive experience in China.

The company is based in New Jersey but has a battery factory in Mexico. It is building a production facility outside Jacksonville, Florida.

Wang says Cenntro vehicles are designed for the European market. The company says it will have six distribution centers in the Caribbean, Africa, and Europe, starting with Germany.

21/12/2022

Lucid (NASDAQ:LCID) rose 5% overnight after its investors in Saudi Arabia led $1.5 billion in new funding. Saudi Arabia’s Public Investment Fund bought almost 86 million new shares of LCID stock in a private offering at a little over $10 per share, about $900 million. Another $600 million came in a secondary public offering.

Lucid opened Dec. 20 at $7.60 with a market capitalization of about $12.8 billion. A year ago, the stock was selling for about $42 per share.

Cash Is King

Lucid reported $3.3 billion of cash and short-term investments at the end of September. But it had negative operating cash flow of $569 million during the quarter.

The electric vehicle (EV) maker had revenue of about $195 million in the third quarter and delivered 1,398 cars. But it had reservations for 34,000 vehicles in November worth $3.2 billion, plus an order for 100,000 more from the Saudi Arabian government.

Lucid is expected to need $4.7 billion of cash to operate through 2024. The capital raise means it can now fulfill those orders.

Its Lucid Air sedan, which costs about $90,000, has gotten strong reviews for power and battery range. The car can get from zero to 60 miles per hour in just 2.6 seconds or deliver 516 miles of range between charges.

Saudi Arabia’s government has been a key backer for Lucid, run by former Tesla (NASDAQ:TSLA) chief engineer Peter Rawlinson. While the company has operations in Casa Grande, Arizona, it has promised to build a second plant in the country, capable of making 150,000 vehicles per year.

Before the capital raise, TV analyst Jim Cramer was calling Lucid “too dangerous” to own. There are just eight analysts for Lucid at TipRanks,equally divided between three buyers and three sellers with two on the fence.

21/12/2022

Current market conditions hinder bullish market movements even for Bitcoin, which is arguably the king of cryptocurrencies. Recently, a crypto analyst named nino released an analysis showing that long-term Bitcoin positions are being liquidated.

As this develops, experts in the cryptocurrency market have warned that the U.S. Federal Reserve’s efforts to rein in inflation through monetary tightening are unlikely to ease any time soon, thus has the potential to impact on BTC price.

Warming Up For The Crypto Winter

Nino used the Long Term Output Profit Ratio indicator. This measures whether long-term holders who sold their holdings are taking profit.

As of this writing, Bitcoin is trading at $16,855, down 1.9% in the last seven days, data from Coingecko shows.

Nino found that after the CPI and FOMC announcements, Bitcoin values saw significant fluctuation.

Soon after this occurred, the LTOPR skyrocketed. Many long-term Bitcoin holders may have cashed out their holdings at this time.

However, glassnodealerts recently tweeted that the holders of 1 Bitcoin increased to a new all-time high of 973,148.

As long positions get liquidated by long-term investors, new investors will grab the newly distributed token at a lower price.

Retail investors are not the only ones getting in on the fun. Whale interest seems to increase as well, as addresses holding more than 100 BTC increased to 16,120 which is a one-year high.

These increases show that although the overall sentiment is very pessimistic, investors remain hopeful for Bitcoin and crypto in general.

More Developments, Both Controversial And Not

BTC appreciated 0.4% in the past 24 hours to its current price of $16,855. But this might increase in the next few days or months as Russia looks on the cryptocurrency market to circumvent sanctions.

According to a report by Newsweek, Russia is contemplating the use of cryptocurrency as the war-weary nation seeks to bolster its coffers in the face of severe Western sanctions imposed in reaction to President Vladimir Putin’s war in Ukraine.

20/12/2022

Shares of Vinco Ventures (NASDAQ:BBIG) stock are in full focus, as the company announced in Nov. that it would file an update to its plan of compliance to Nasdaq no later than today, Dec. 19. Vinco noted that the updated compliance plan would confirm that it would be able to submit its Q2 and Q3 earnings reports by Jan. 30. On Nov. 17, Nasdaq sent the company a noncompliance notice for a failure to report Q3 earnings. The deadline to submit the report fell on Nov. 14.

For Q1, Vinco reported revenue of $11.5 million, up 349.7% year-over-year (YOY). The significant revenue growth was largely impacted by the acquisition of AdRizer. Furthermore, the company’s net loss tallied in at $372.9 million, equivalent to an earnings per share (EPS) loss of $3.05. Vinco stated that $330.6 million of the net loss, or 87%, was attributed to “warrant accounting requirements.” Finally, the company ended the quarter with cash, cash equivalents, and restricted cash of $210.8 million.

On top of that, Vinco is dealing with another notice from Nasdaq. Let’s get into the details.

BBIG Stock: Vinco’s Updated Compliance Plan Deadline is Today

On Dec. 1, Nasdaq notified Vinco that was in violation of its minimum bid price requirement of $1. Nasdaq came to this conclusion based on the closing bid price for the last 30 trading days. Now, Vinco will have 180 calendar days to regain compliance, or until May 30 of 2023. BBIG stock will no longer be violation of the exchange’s requirements if it regains the $1 closing bid price threshold for 10 consecutive days before the deadline.

BBIG’s inclusion in the Russell 2000 index may also be at risk. As with Nasdaq, Russell also requires a minimum bid price of $1 for inclusion. During the rank day in May, all participants must have a minimum closing price of $1. If that requirement isn’t met, the company could also have an average daily closing price of at least $1 for the 30 days prior to the rank day in order to be eligible.

20/12/2022

Investors are wondering if the stock market is closed on Dec. 23, 2022, and we’ve got the answer they’re looking for!

The short and simple answer is that the stock market will remain open on Dec. 23, which is this coming Friday. While the stock market does close on Christmas Day, it does not close on Christmas Eve.

That’s worth noting as sometimes the stock market will close on normal days if an observed holiday takes place over the weekend. For example, Christmas falls on a Sunday this year, which will see the stock market close on Monday, Dec. 26, 2022. Since Christmas Eve isn’t a market holiday, there would be no reason to close the market on a different day.

More on Stock Market Holidays

While the stock market is closed on Dec. 26, that’s not the only date investors will want to keep in mind. They’ll also note that the stock market will be closed on Monday, Jan. 2, 2023. That’s due to New Year’s Day, which is a market holiday, landing on a Sunday.

The stock market typically follows Federal holidays for closing, but not always. For example, markets are closed on Good Friday, even though that’s not a Federal holiday. On the flip side of that, the stock market is open on Columbus Day and Veteran’s Day, even though those are Federal holidays.

Investors looking for more of the most recent stock market news will want to keep reading!

InvestorPlace is home to all of the hottest stock market stories traders need to know about on Monday! That includes everything happening with Vinco Ventures (NASDAQ:BBIG), Greenidge Generation (NASDAQ:GREE), and Mesa Air Group (NASDAQ:MESA) stock today. You can find out more at the links below!

More Monday Stock Market News

BBIG Stock Alert: Will Vinco Ventures Meet a KEY Deadline Today?
Why Is Greenidge (GREE) Stock Up 30% Today?
Why Is Mesa Air Group (MESA) Stock Up 10% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

20/12/2022

Sometimes, the financial markets can be highly unpredictable. Reportedly, the U.S. Food and Drug Administration (FDA) lifted its partial clinical hold on Bluebird Bio’s (NASDAQ:BLUE) studies of a sickle cell disease (SCD) treatment candidate. This should, one might assume, propel BLUE stock higher. Yet, surprisingly enough, shares dropped quickly after the opening bell rang on Wall Street today.

Bluebird Bio is a fairly small biotechnology business, so any regulatory news can have an outsized impact on the company. Today’s news, according to a press release, is that the FDA has “lifted its partial clinical hold for patients under the age of 18 in studies evaluating lovotibeglogene autotemcel (lovo-cel) for sickle cell disease (SCD).”

Understandably, Bluebird Bio Chief Medical Officer Richard Colvin is quite happy with this development. “We are very pleased to have addressed the FDA’s questions and resolved the partial clinical hold,” Colvin stated in the release.

Apparently, the partial clinical hold was related to a possible complication involving an adolescent patient. The issue seems to be resolved now. So, BLUE stock shareholders should be in celebration mode, right?

What’s Happening With BLUE Stock?

As always, it’s wise to avoid making assumptions on Wall Street. Despite the evidently positive news, BLUE stock gapped down this morning. Shares are currently in the red by 10%.

This price action is unexpected, especially considering Bluebird’s confident-sounding press release. The release states that the company is “on track to submit a Biologics License Application (BLA) to the U.S. FDA for lovo-cel” in the first quarter of 2023.

Perhaps management is right to be confident. After all, the FDA has already granted four different designations to lovo-cel. These include orphan drug, fast track, regenerative medicine advanced therapy (RMAT) and rare pediatric disease designations.

However, it’s possible that financial traders already anticipated the lifting of the FDA’s clinical hold. In other words, today’s share-price dump may be an instance of “buy the rumor, sell the news.”

17/12/2022

There’s a tug-of-war going on today with Ocugen (NASDAQ:OCGN) stock between the buyer and sellers. The sellers have taken the lead, however, despite apparently positive news. Reportedly, the Food and Drug Administration (FDA) approved Ocugen’s “proposed control and overall design for the Phase 3 study” of a regenerative cell therapy.

The product is called NeoCart, and it’s intended to repair “full-thickness lesions of the knee cartilage in adults.” Ocugen’s Phase 3 study will involve test subjects with articular cartilage defects.

This isn’t Ocugen’s first regulatory success with NeoCart. The company already earned a regenerative medicine advanced therapy (RMAT) designation for NeoCart from the FDA. Now, Ocugen can move on to the next phase of advancement for this product.

All of this should prompt a huge rally in the Ocugen share price, right? Don’t make any hasty assumptions, as Wall Street often does the complete opposite of what you might expect.

What’s Happening With OCGN Stock?

OCGN stock started off at $1.55 this morning but quickly headed lower, dropping to $1.38 by 11:00 a.m. With the Ocugen share price nearly 5% in the red, it was evident that the sellers were fully in control.

This might seem irrational, given the apparently positive news about the FDA approving Ocugen’s Phase 3 study of NeoCart. Plus, there’s more to the story. Ocugen is building what it calls a “Good Manufacturing Practice cell therapy manufacturing facility” for NeoCart.

In addition, there may be another regulatory milestone for NeoCart. Ocugen intends to file an Investigational New Drug (IND) amendment to initiate a Phase 3 clinical trial for NeoCart in late 2023 or early 2024.

Getting IND approval from the FDA could really kick-start NeoCart’s path to commercialization. Building a production facility should also help get the product to market quickly — if it’s fully approved, that is.

17/12/2022

Agrify (NASDAQ:AGFY) stock is on the move Friday as the company’s shares take a beating alongside a public stock offering.

The public offering includes 11,884,615 shares of AGFY stock, 1.5 million pre-funded warrants to purchase shares of the company’s stock, as well as warrants for another 26,769,230 shares of its stock.

The offering price for the stock, which comes bundled with two warrants to purchase additional shares of AGFY stock, is sitting at 65 cents. The price for the pre-funded warrants, which also include two common warrants, is 64.9 cents.

Agrify is expecting to generate $8.7 million in gross proceeds from this public stock offering. The company intends to use these funds for working capital and general corporate purposes. Thay may include replaying debt.

Why AGFY Investors Are Upset

Public stock offerings are almost always a problem for investors as they dilute the company’s outstanding shares. Adding to that, these offerings are almost always at a lower price than what the stock is trading for.

AGFY stock is a perfect example of this as the company’s shares close trading on Thursday at 82 cents each. That’s well above the 65-cent price for shares being sold in this public offering. That’s why the price of AGFY stock is being dragged down today.

Investors will also note heavy trading of AGFY stock with some 3 million shares on the move. That’s well above its daily average trading volume of about 1.8 million shares.

AGFY stock is down 49.1% as of Friday afternoon.

Investors can catch up on all of the latest stock market news below!

InvestorPlace is home to all of the hottest stock market news for Friday! A few examples include what’s going on with shares of Ocugen (NASDAQ:OCGN), Novavax (NASDAQ:NVAX), and Cosmos (NASDAQ:COSM) stock today. You can find out more about these topics at the following links!

17/12/2022

Shares of Carvana (NASDAQ:CVNA) have plunged lower by more than 95% this year, and large shareholders are taking notice. The decline has been led by lower used car car prices, inflation and a lack of profitability. Meanwhile, Carvana’s bond prices declined to less than 50 cents earlier this month, striking fears of a default.

On top of that, it was recently announced the company’s creditors, which includes private equity firm Apollo Global Management, had signed a pact to work together when making negotiations with Carvana. This led to shares of CVNA stock plunging by more than 40%. The creditors own around $4 billion, or 70%, of the company’s unsecured debt, while the pact will be in effect for at least three months.

Shortly after, Carvana sought to quench fears by releasing the following statement:

“Our message to our customers, shareholders, employees and other stakeholders remains clear: we are singularly focused on executing on the plan to profitability outlined in our third quarter shareholder letter and we have substantial liquidity to get us there. In no way do these reports change that strategy.”

However, large shareholders are taking notice of the company’s declining financials. Let’s get into the details.

T. Rowe Price Capitulates on CVNA Stock

T. Rowe Price (NASDAQ:TROW) has sold 99.84% of its existing CVNA stake according to a 13G form received by the Securities and Exchange Commission (SEC) on Dec. 12. That’s equivalent to the sale of 13.42 million shares, as the firm previously held 13.44 million shares, which fell to just 20,982 shares as of Nov. 30. T. Rowe’s sale was very significant, and investors should take note of it.

On the other hand, Morgan Stanley (NYSE:MS) took a different approach. As of Nov. 30, the investment bank held 13.11 million shares. Morgan Stanley previously reported owning 5.3 million shares, which means it increased its stake by 147.26%, or by 7.81 million shares.

16/12/2022

Long-term investors of Third Harmonic Bio (NASDAQ:THRD) are feeling some discomfort today, to put it mildly. This morning, THRD stock is losing the majority of its value because the company halted a clinical trial. Apparently, Third Harmonic did this due to safety-related issues.

Third Harmonic Bio is a small clinical-stage biopharmaceutical company with a market capitalization of around $175 million. When a business is as small as that, a single news item can have a profound impact on shares.

Today, financial traders are seeing a textbook example of this, as Third Harmonic Bio just issued an important press release. Specifically, the company disclosed that it has stopped the Phase 1b study of THB001. That’s Third Harmonic Bio’s investigational drug candidate for chronic inducible urticaria, which is an inflammatory skin condition.

Asymptomatic liver transaminitis was reportedly observed in two test subjects “enrolled in the first dose cohort” for the THB001 trial. Consequently, Third Harmonic Bio chose to halt the clinical study.

What’s Happening With THRD Stock?

As you might imagine, Third Harmonic Bio shareholders aren’t too happy with this development. Yet, it has still been amazing to witness THRD stock lose more than 75% of its value this morning.

Nonetheless, Third Harmonic CEO Natalie Holles seems optimistic about THB001’s future prospects. “[W]e are encouraged by the preliminary signs of clinical activity at this starting dose,” Holles stated.

Furthermore, Holles teased an “anticipated nomination of a new development candidate next year.” So, there may be a successor to THB001 in 2023. The press release also assured that Third Harmonic Bio “is initiating nonclinical studies to elucidate the mechanism for the observed transaminitis.”

In other words, this might not be the end of the road for Third Harmonic Bio. Given today’s drastic price action in THRD stock, however, it certainly feels like the company has some catching up to do.

16/12/2022

It’s a tough day in the markets, with major indices bleeding red. However, some stocks are down worse than others. Among those leading the decline is FuboTV (NYSE:FUBO), sinking on news that the streaming platform was hit by a cyberattack during the France-Morocco semifinal World Cup match. Shares of FUBO stock are down approximately 7% at the time of writing.

This sort of headline certainly isn’t what investors want to see. While service was reportedly restored last night, the outage created notable angst among both users and investors.

In an update today, the company noted that it’s working with law enforcement to investigate the cause of this outage. It appears that a criminal cyberattack is behind it.

Let’s dive into what investors may want to make of this news today.

FUBO Stock Dives on Cyberattack

Whoever was behind the attack on FuboTV certainly picked a prime time to coordinate this outage. While some initial speculation surrounded the inability of FuboTV’s networks to handle increased viewership volume, it appears that an attack was detected shortly after reports circulated that this game was offline. It also appears that service was restored in a relatively efficient manner, leading to some significant investor uncertainty.

On the one hand, cyberattacks are becoming more commonplace than ever. Major companies get hacked all the time, and users of many online services are used to receiving notices that they need to change their passwords. Thus, the bull case for FUBO stock is that this 7% dip today may be a buying opportunity. That is, for those who believe in the company’s long-term growth prospects.

The thing is, FuboTV is a company that’s been among the hardest-hit from this year’s bear market. Streaming companies in general are less attractive to investors these days due to their relatively high capital costs, uncertain margins, and duration risk. Adding cybersecurity risk to the list is just one too many risks for many investors to take.

16/12/2022

One stock bucking the otherwise red trend in the markets today is DarkPulse (OTCMKTS:DPLS). Shares of this small-cap provider of advanced technologies surged more than 100% at one point today. At the time of writing, shares of DPLS stock are up approximately 80%.

This move follows an announcement from the company that it intends to list its shares on the Nasdaq exchange. Via a merger agreement with Global System Dynamics (NASDAQ:GSD), DarkPulse will ultimately take the name “Global System Dynamics, Inc.” and trade under a new ticker symbol, DARK.

This merger is expected to close in Q1 or Q2 of next year, resulting in DarkPulse being delisted from the over-the-counter (OTC) exchange. It’s expected the combined entity will be worth approximately $223 million and carry an enterprise value of $145 million, with more than $100 million in cash on hand.

Let’s dive into whether this stock should be on investors’ radar or not.

What’s Going on With DPLS Stock Today?

Any sort of up-listing announcement tends to garner significant attention among investors. Such is the case with DarkPulse today. A public listing improves a given company’s visibility, coverage and liquidity, providing investors with explicit benefits. Accordingly, some sort of bump should be anticipated on this news.

However, the fact DPLS stock more than doubled at one point today (actually surging more than 135% at its intraday peak) may indicate investors are a bit overzealous. This is an early-stage company focused on laser-based security management solutions. Though the company appears to be close to break even, it’s still unprofitable. And in this market, that’s clearly not what investors want to see.

That said, the company does have some significant growth catalysts worth considering. Its patents in a number of key technological areas are intriguing. Additionally, DarkPulse does have a segment focused on government business. That’s a dependable revenue stream some long-term growth investors want to see.

Perhaps this is the news the company needed to get some momentum. Time will tell. In many respects, this stock looks interesting, and I intend to follow it from here.

15/12/2022

Vallon Pharmaceuticals (NASDAQ:VLON) stock is rocketing higher on Wednesday as investors react to news of a merger agreement with GRI Bio.

According to a press release, GRI Bio will combine with a subsidiary of Vallon Pharmaceuticals. Once the merger is complete, the new company will operate under the GRI Bio name and trade under the GRI ticker.

With this change, the merged company will also focus on GRI Bio’s pipeline of products. Of particular interest are its NKT cell regulators. These are being developed to treat inflammatory, fibrotic and autoimmune diseases.

Details of the Merger

Vallon Pharmaceuticals’ subsidiary will obtain all outstanding equity interests of GRI Bio. Afterward, this will result in GRI Bio equity holders having 83% of the outstanding equity in the combined company. The remaining 17% will belong to current Vallon equity holders.

The boards at Vallon and GRI Bio have both given their unanimous support to the merger. Once regulators and shareholders sign off on it, the deal should close during the first quarter of 2023.

Today’s news has VLON stock seeing heavy trading volume. As of this writing, more than 59 million shares of the stock have been traded. That’s a massive surge over its daily average trading volume of about 422,000 shares.

VLON stock is up 94.8% as of Wednesday morning but is down 93.2% year-to-date (YTD).

Investors seeking out more of the latest stock market news will want to keep reading!

InvestorPlace is home to all of the hottest stock news traders need to know about on Wednesday! Among that is what has shares of QuantumScape (NYSE:QS), SolarEdge (NASDAQ:SEDG) and MicroAlgo (NASDAQ:MLGO) stock moving today. You can catch up on all of that news at the links below!

15/12/2022

Drive Shack (NYSE:DS) stock is falling hard on Wednesday after the company warned investors of it delisting shares.

According to a press release, Drive Shack intends to delist its shares from the New York Stock Exchange on or before Dec. 23. That means there’s only a little over a week before the company’s stock stops trading on the exchange, which explains the drop in price today.

Drive Shack’s decision to delist its shares comes after the company received a warning from the NYSE. The low price of DS stock, as well as its low trading volume, leave it unfit to remain on the exchange.

What’s Next for DS Stock?

Rather than try to fight the NYSE delisting, Drive Shack is embracing it. Instead of struggling to remain on the exchange, the company will instead list its shares on the OTC Markets Group. It’s expecting to receive approval for this listing in the first quarter of 2023.

Drive Shack argues that this is the better decision for its company. It believes that spending less time dealing with U.S. Securities and Exchange Commission (SEC) listing policies and focusing more on the business will be better in the long run.

With today’s news comes heavy trading of DS stock as investors unload shares. As of this writing, more than 15 million shares are on the move. That’s a massive increase over its daily average trading volume of only about 700,000 shares.

15/12/2022

U.S. stocks on Wednesday had come off their session highs but were still higher, with investors awaiting the Federal Reserve's monetary policy meeting decision later in the day.

By afternoon, the tech-heavy Nasdaq Composite (COMP.IND) advanced 0.30% to 11,290.56 points. The benchmark S&P 500 (SP500) added 0.45% to 4,037.92 points, while the blue-chip Dow (DJI) was higher by 0.55% to 34,296.57 points.

Of the 11 S&P sectors, ten were trading in the green, led by Utilities and Industrials. Materials was the only loser.

All three major indices had ripped after the opening bell on Tuesday, helped by cooler than expected CPI data. However, they gave up most of their gains through the day and ended well of their session highs, as market participants remained cautious ahead of the Fed.

"With inflation surprising on the downside once again, investors moved to price in a much more dovish path for the Federal Reserve over the coming months. There's little doubt that they'll be moving by 50bps at today's meeting, but futures moved to price in a significantly higher chance that they'll downshift further to 25 bps at the February meeting," Deutsche Bank's Jim Reid said.

According to the CME FedWatch tool, markets are pricing in a 59.1% probability of a 25 basis point hike by the Fed at its February meeting.

Of greater interest to traders will be Fed chief Jerome Powell's post-decision press conference, where comments on inflation and the pace of rate hikes will be squarely in focus.

Vanda Research expects retail investors' demand for U.S. equities to remain weak today.

"If Powell proves to be more hawkish than expected and risk assets sell off, we would expect retail to remain cautious - even though they are still likely to buy the dip to an extent. On the contrary, a relatively dovish Fed will push smart money to raise their risk allocation again as most catalysts will be cleared before year-end," Vanda's Marco Iachini said.

14/12/2022

Lion Electric (NYSE:LEV) stock is sinking 12% after the electric vehicle (EV) maker announced it would sell 19.69 million additional units for $2.54 per unit. Each unit includes one share of LEV stock and a warrant to purchase an additional share. The company expects to raise up to $50 million from the sale of the units.

More About the LEV Stock Deal

Yesterday after the market closed, Lion stated it would market additional units.

This morning before the market opened, the EV maker disclosed nearly 20 million units would be marketed for $2.54 per share. The automaker’s stock closed yesterday at $2.67. Lion stated it would use the funds obtained from the sale of the units to boost its financial position and “pursue its growth strategy.” Lion noted it would utilize a portion of the funds to build its plants in Illinois and Quebec.

The EV maker reported that Quebec-based Power Sustainable Capital had expressed its willingness to buy about $25 million of Lion’s units. Power Sustainable describes itself as “a multi-platform alternative asset manager investing in sustainable strategies.” The CEO of Power Sustainable is Olivier Desmarais, who is the chairman of the Canada China Business Council.

What Is Lion Electric?

Specializing in building zero-emission school buses, urban trucks and buses for transporting passengers in urban areas, Lion generated $57.7 million of revenue in 2021. In the 12 months that ended in September, its top line came in at $116 million while it generated an operating loss of $75.2 million.

Before trading began today, the shares had sunk 21% in the last month and 73% so far in 2022. As of this morning, the market capitalization of LEV stock is $447 million.

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