Rivian Stock Is Dropping. Blame Amazon.

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Amazon has ordered 100,000 delivery vans from Rivian.


Courtesy Amazon

Stock in Rivian Automotive is falling fast because it seems the start-up has competition in supplying electric trucks to Amazon.com, one of its investors.


Rivian
stock resumed its slide Thursday, falling another 11% to about $80. That’s just a hair above its initial public offering price.

On Wednesday, Rivian (ticker: RIVN) stock closed down more than 11% at about $90.01 a share, while the


S&P 500

fell 1.9% and the


Dow Jones Industrial Average

dropped 1.1%. The market weakened as the minutes from the latest meeting of the Federal Reserve’s rate-setting committee, made public Wednesday afternoon, led to expectations for tighter monetary policy to fight inflation.

But earlier Wednesday, before the Fed news hit stocks,


Stellantis
(ticker: STLA) and Amazon (AMZN) had announced a collaboration that was centered on vehicle software. The news release, however, also said

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Dow tanks 392 points in stock selloff after Fed signals faster rate hikes

U.S. stocks ended sharply lower on Wednesday after selling picked up following the latest minutes from the Federal Reserve’s December meeting which signaled that policymakers are concerned about inflation broadening, which could accelerate planned rate hikes this year. 

The Dow Jones Industrial Average, which hit a record earlier, closed down 392 points or 1%, while the S&P 500 and Nasdaq Composite dropped 1.9% and 3.3%, respectively. Investors continued to rotate out of technology. 

HIRING PICKS UP WITH 807,000 JOBS CREATED: ADP

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 36407.11 -392.54 -1.07%
SP500 S&P 500 4700.58 -92.96 -1.94%
I:COMP NASDAQ COMPOSITE INDEX 15100.174159 -522.54 -3.34%

The selling puts the Dow farther away from its next 1,000 point milestone – 37,000.

Tech

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Nasdaq, S&P rise 1% driving day two of stock gains

U.S. stocks rose for the second straight session as traders digested positive economic news and the Food and Drug Administration’s approval of  Pfizer’s COVID-19 pill for use in adults and children ages 12 and older. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35753.89 +261.19 +0.74%
SP500 S&P 500 4696.56 +47.33 +1.02%
I:COMP NASDAQ COMPOSITE INDEX 15521.89237 +180.81 +1.18%

The Dow Jones Industrial Average rose 261 points or 0.6% building on its 560 point advance on Tuesday while the S&P 500 and Nasdaq Composite rose 1% each. 

Positive economic data included an uptick in the Consumer Confidence Index to the best level since July, a better than expected 3Q GDP report of 2.3%, albeit well below July’s 6.7% jump and home sales that rose 1.9%. 

And the fight

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KTTA Stock: The Despair Nasal Spray News That Has Pasithea Therapeutics Buyers Ecstatic Now

InvestorPlace – Stock Market News, Inventory Advice & Buying and selling Ideas

Pasithea Therapeutics (NASDAQ:KTTA) inventory is rocketing larger on Tuesday right after introducing esketamine nasal spray to its U.K. choices.

colorful pills and vials sitting on a table representing KTTA Stock.

Supply: Bukhta Yurii / Shutterstock.com

The business is giving the esketamine nasal spray by way of its subsidiary, Pasithea Clinics. This spray is beneath the Spravato identify. The nasal spray is treats people suffering from depression in older people that have been resistant to other treatment options.

Pasithea Therapeutics notes that it’s providing the nasal spray at its Knightsbridge, London area. The enterprise also factors out that only three locations in the U.K. have been accredited to offer this procedure.

Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics, claimed the subsequent in the information launch boosting KTTA inventory up now.

“Major Melancholy is the leading induce of prolonged-phrase incapacity around the globe. Latest treatment plans have minimal

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Amazon Stock: However a Buy?

Shares of Amazon.com (NASDAQ:AMZN) have been climbing properly in new months. Since the starting of October, the inventory has climbed a lot more than 10%. This compares to the S&P 500‘s 8.5% gain in excess of the very same period. With the inventory back about $3,570 for the initial time since July, is the stock nevertheless desirable at this level? Or is this a fantastic time for buyers to choose their gains?

A shut look at Amazon stock reveals that marketing shares at this level could be a error. Even additional, the stock’s valuation relative to the firm’s extensive-term potential customers implies shares could in fact be a powerful buy at this level.

Various charts on an chalkboard and on a smartphone.

Graphic resource: Getty Pictures.

Robust fundamentals

Amazon is looking at powerful momentum throughout numerous vital metrics, together with e-commerce profits, cloud computing profits, and extra. Its broad-primarily based momentum can make a fantastic situation for the

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