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EV startups are burning through cash. Can they attract more investment?
In September 2020, Hindenburg Study introduced its report on Nikola, saying it was “an intricate fraud.” The firm acknowledged a truck appearing to cruise down a desert street under its personal electrical power in a online video was not. The SEC released an inquiry. Eventually, Trevor Milton, Nikola’s founder, was convicted of fraud. Nikola settled with the SEC for $125 million. In 2021, J Cash Exploration posted a report contacting Faraday Upcoming “nothing but a bucket to obtain funds from U.S. traders and pour it into the black hole of personal debt designed by its founder.” A enterprise spokesperson explained “the substantive allegations of inaccurate disclosures” in the report “ended…
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Rivian Q4 earnings preview: Cash burn, demand concerns emerge
Rivian’s fiscal performance is an additional main worry. The company lifted large amounts of funds for its 2021 original community supplying, but is now burning by way of that money quarter by quarter. The automaker explained it sent 20,332 automobiles final year. As section of third-quarter earnings, Rivian said it experienced about $14 billion in dollars to fund its functions, create fewer-pricey motor vehicles and establish a 2nd plant. The foundation R1T has a starting price of $74,800 with shipping and delivery. Rivian is not by yourself in drawing fresh scrutiny from industry analysts amid high hopes for EV startups in new many years. Lucid Motors, which released its Air…
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AOC, other politicians paid thousands in campaign cash to Chinese foreign agent
Democratic Rep. Alexandria Ocasio-Cortez and a handful of other federal politicians – including two Democrats and one Republican – have shelled out countless numbers in campaign payments to a Chinese international agent, a Fox News Electronic assessment of marketing campaign finance information has uncovered. Reps. Kevin Mullin, D.-Calif., Grace Meng, D.-N.Y, and Nicole Malliotakis, R.-N.Y. joined Ocasio Cortez in pushing marketing campaign cash to Sing Tao U.S., a subsidiary of the Hong Kong-centered Sing Tao Information Corporation Ltd, for advertising costs during the midterm election cycle. Those people strategies, in other words and phrases, had despatched their income to a Chinese-owned entity that the Department of Justice compelled to register as a…
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Americans prefer to cling to cash after shaken by stock market volatility
Last year’s stock market volatility rattled Americans so much that almost 2 in 3 prefer to have their money sit in cash on the sidelines rather than endure market swings. That is the latest finding from Allianz Life, which asked this question for the first time in a recent survey of 1,005 adults over 18 in December. And data released in January by the Department of Commerce shows that Americans are again starting to sock away more cash. The savings rate for December was 3.4{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} — the highest level in seven months and the biggest month-over-month jump since July 2021. While cash savings look more attractive now given the higher…
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