In the past week:
- A highly anticipated jobs report for August was weaker than expected, though the unemployment rate ticked down.
- Historically bearish September began with traders on edge. Nvidia stock plunged, wiping out $279 billion in market cap. Gold and oil retreated as well. China’s economy continued to struggle. OPEC delayed its output hike.
- ESPN and ABC went dark for DirecTV subscribers. Brazil’s supreme court upheld a ban on Elon Musk’s X.
- Verizon said it would acquire Frontier Communications. The White House was expected to block the acquisition of U.S. Steel. The SEC fined credit rating agencies for record-keeping failures.
- Costco membership fees increased. Nordstrom’s founders made a bid to take the retailer private. 7-Eleven’s parent rejected a takeover bid.
- Hotel workers went on strike. An activist investor made some noise at Southwest Airlines. Intel’s Dow status was in doubt.
- Chinese EV sales boomed in August. Volkswagen warned it may have to shutter plants in Germany. Toyota recalled thousands of hybrid SUVs. Volvo scrapped plans to sell EVs only.
As semiconductor stocks stumble following Nvidia’s latest quarterly report that signaled weakness in the AI boom, dip-buyers may have a chance to snag Advanced Micro Devices Inc. (NASDAQ: AMD) shares at a decent price.
Buy-and-hold investors who wonder where Palantir Technologies Inc. (NYSE: PLTR) stock might be several years down the road will want to know more about the big data analytics firm’s key growth drivers and strategic partnerships.
Lucid Group Inc. (NASDAQ: LCID) was among the early-stage EV makers watched closely by investors. But it is still spending heavily to ramp up production, losing money on each vehicle it makes. What are the odds Lucid is still around in five years?
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