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NKLA

A fire that occurred at Nikola Corp's headquarters last month remains unsolved, with no evidence supporting arson. The fire affected multiple battery electric trucks, but no one was injured. This comes after the discovery of a significant defect in the battery module of Nikola’s electric trucks. Nikola reported retail sales of 66 battery-electric trucks for the second quarter and wholesale sales of 45 trucks. The company plans to introduce its hydrogen fuel cell electric truck this quarter.

Portfolio Pulse from Anan Ashraf

July 07, 2023 | 7:22 am

AAPL

F

TSLA

Ford Motor Company (NYSE: F) is planning to introduce subscription services for its upcoming electric vehicles, a strategy influenced by Doug Field, a former employee of Apple Inc (NASDAQ: AAPL) and Tesla Inc (NASDAQ: TSLA). Field, who is now the Chief Advanced Product Development and Technology Officer at Ford, is leading the company's vehicle monetization strategy. This approach could allow Ford to generate longer-term revenue per customer by offering software and technology services through subscription models, similar to how Apple offers services for its iPhones.

Portfolio Pulse from Chris Katje

July 07, 2023 | 5:35 am

BEST

BEST Inc., a leading integrated smart supply chain solutions and logistics services provider, has partnered with VNPAY, a key player in Vietnam's digital payment ecosystem, to promote cashless payments in Vietnam. The collaboration aims to enhance the customer experience and increase operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 4:45 am

BIIB

ESALF

The FDA has granted traditional approval to Biogen and Eisai for LEQEMBI, a treatment for Alzheimer's disease. This approval could potentially boost the companies' revenues and stock prices.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 4:42 am

NKLA

TSLA

The California Transport Commission has awarded a $41.9 million grant to Nikola Corp to build hydrogen refueling stations across South California. Tesla CEO Elon Musk criticized the move, stating that the push for hydrogen as an alternate energy source 'makes no sense'. Nikola, which currently sells battery electric vehicles, plans to introduce its hydrogen fuel cell electric truck in Q3. Earlier this year, Nikola received orders for 100 of its hydrogen cell trucks, thanks to a California Air Resources Board program.

Portfolio Pulse from Anan Ashraf

July 07, 2023 | 4:31 am

META

TWTR

Twitter's new CEO, Linda Yaccarino, called for unity among users, sparking a debate about the disparity between paid and unpaid voices on the platform. This comes amidst the rapid rise of Meta Platforms Inc.'s new decentralized social media platform, Threads, which gained 30 million users in under 24 hours. Yaccarino's appeal was met with criticism from users who expressed dissatisfaction with Twitter's treatment of users and the perceived favoritism towards paid subscribers.

Portfolio Pulse from Ananya Gairola

July 07, 2023 | 3:35 am

CCHWF

DBCCF

TSXV:DB

In anticipation of 7/10 Day, a day focusing on the consumption of cannabis oil, several companies have announced new products. Grenco Science is launching the G Pen Dash+ dry herb vaporizer. Stündenglass is releasing the PINK Gravity Infuser. Azuca has partnered with ButACake to introduce Hibiscus Elixir, exclusively available at Columbia Care Inc.'s Delaware stores. Copperstate Farms is launching multiple solventless cannabis extract products. Decibel Cannabis Company Inc. has announced the launch of General Admission edibles.

Portfolio Pulse from Joana Scopel

July 07, 2023 | 2:38 am

META

Elon Musk has responded to reports of Twitter's intention to sue Meta Platforms Inc. for allegedly poaching its employees to create the Threads app, which closely resembles Twitter. Musk stated that while competition is acceptable, 'cheating' is not. This comes after Meta's Twitter clone went live and attracted almost 7.5 million users within five hours. However, concerns have been raised about the data collection policy on Threads, given Meta’s Facebook's controversial history.

Portfolio Pulse from Ananya Gairola

July 07, 2023 | 2:00 am

TSLA

New York's nearly $1 billion investment in Tesla's solar-panel factory has largely failed to deliver on its promises. The factory, leased to Tesla for $1 a year, was expected to produce enough solar-panel shingles to cover 1,000 roofs each week by 2020, but is averaging just 21 installations a week. Despite the shortcomings, the state has amended the terms of its subsidy 12 times to accommodate Tesla.

Portfolio Pulse from Benzinga Newsbot

July 07, 2023 | 1:46 am

BIIB

META

PWM

RIVN

TSLA

US stocks traded lower with the Nasdaq Composite dropping over 100 points. Prestige Wealth Inc announced the pricing of its IPO of 1,000,000 ordinary shares at $5.00 per share. Rivian Automotive is facing a lawsuit alleging it deceived shareholders during its 2021 IPO. Meta Platforms launched a new social platform, Threads, to compete with Twitter. Tesla shares are trading lower amid market weakness and concerns over rate hikes. Biogen received FDA approval for Leqembi for treating Alzheimer’s Disease.

Portfolio Pulse from Benzinga Newsbot

July 07, 2023 | 12:27 am