Electric Cars, Truth Social and the Coming of a Blockbuster IPO
Electric Cars, Truth Social and the Coming of a Blockbuster IPO
By:James Melton
A weekly look inside Luckbox magazine
Range anxiety and other woes plague EV sales
What's holding back the electrification of the U.S. auto fleet? John McElroy, producer of the Autoline Daily webcast says the high cost of electric vehicles is a significant factor, as is "range anxiety," the fear of running out of juice with no charger in sight.
Range anxiety isn't entirely rational, McElroy says, but it makes Americans hesitate before going electric.
"The average American drives under 40 miles a day. So, just about any electric car would easily serve their needs. But people don’t look at it that way. They dream of going over the river and through the woods to grandmother’s house on Thanksgiving, and she might live a state or two over," McElroy told Luckbox in an interview published in the current issue. Read the whole story.
How traders should approach the latest meme stock
Meme stocks fell out of favor in recent months, but the trading debut of Trump Media & Technology Group (DJT) boosted the fortunes of this unique sector.
Trump Media’s primary asset is Truth Social—a social media platform that’s been likened to Twitter (aka “X”) and Facebook—owned by Meta (META). Trump Media debuted recently on the Nasdaq after it merged with the special purpose acquisition company (SPAC) Digital World Acquisition Corp. on March 25. As part of the merger, the ticker symbol for the combined entity changed from DWAC to DJT.
Trump Media stock seems to be setting up for a potential binary move in the wake of the 2024 presidential election. Read the whole story.
Wall Street awaits a Databricks IPO
Databricks, a market leader in enterprise data, could conduct an initial public offering in the coming months. That follows a $500 million funding round last September that valued the company at approximately $43 billion.
Databricks hasn’t announced a target date for the IPO, but it could happen in the next several months. That’s because the IPO market usually slows down ahead of major elections, which means most 2024 IPOs will happen before August, or after mid-November.
Databricks also recently launched its own large language model for generative AI, known as “DBRX,” which may also allude to the company’s potential IPO ticker symbol. Read the whole story.
Read the latest edition of Luckbox magazine here.
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James Melton is managing editor of Luckbox magazine. @JDMeltonWriter
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