Nio, a Chinese electric car company, recently unveiled its new, lower-priced brand called Onvo. The first car under this brand, the L60 SUV, is priced at 219,900 yuan (US$30,439) which is approximately $4,000 cheaper than Tesla’s Model Y. Deliveries for the L60 SUV are scheduled to start in September, with pre-sales already underway following the
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Netflix’s recent announcement revealed that its cheaper, ad-supported tier has seen significant growth in global monthly active users. The streaming service reported that the number of users has jumped to 40 million, nearly double the figure shared just a few months ago. This surge in users showcases the appeal of a more affordable option for
Recent data shows that mortgage rates have reached their lowest level since April, providing some relief to potential buyers. However, the current state of the housing market still presents challenges for many individuals looking to purchase a home. While the average contract interest rate for 30-year fixed-rate mortgages has decreased slightly, the cost of homes
AMC Entertainment, the cinema chain that has been struggling with a massive debt load, is once again in the spotlight. With the recent surge in its stock price, driven by Reddit investors and the return of Keith Gill, also known as Roaring Kitty, AMC has a chance to address its financial challenges. Despite paying down
Consumers looking to purchase a home are continuing to invest in down payments, even though the average amount is modest compared to traditional beliefs. Recent data from Realtor.com shows that in the first quarter of 2024, the average down payment stood at 13.6%, with a median amount of $26,000. While these figures are slightly higher
The recent surge in the shares of AMC Entertainment and GameStop has once again captured the attention of investors and the general public alike. This new rally, fueled by social media, has reignited the phenomenon of “meme stocks.” The resurgence of these stocks can be attributed to a social media account known as “Roaring Kitty,”
AMC Entertainment successfully raised approximately $250 million in new equity capital through a sale of 72.5 million shares in an at-the-market offering. The offering, which began on March 28, saw the shares being sold at an average price of $3.45 per share before commissions and fees. Following the completion of the sale, AMC’s stock price
Alibaba, the Chinese e-commerce giant, faced a significant drop in its net profit in the fiscal fourth quarter, causing its shares to plummet. The company reported revenue of 221.9 billion yuan ($30.7 billion), slightly surpassing LSEG consensus estimates. However, its net income attributable to ordinary shareholders declined by 86% year on year, coming in at
Tencent, the Chinese tech giant, exceeded analyst estimates for revenue and profit in the first quarter of the year. The company’s core gaming business saw slightly better sales, while improved profitability was achieved in its advertising and business services division. In terms of revenue, Tencent reported 159.5 billion Chinese yuan ($22 billion), surpassing the 158.4
Klarna, a Swedish financial technology company, has recently revealed that an overwhelming majority of its workforce is utilizing generative artificial intelligence tools in their daily work routines. This adoption of AI technology has significantly impacted various departments within the company, leading to increased efficiency and streamlined operations. With over 87% of Klarna’s employees now incorporating