EV investors are moving into the sector ahead of the expected passage of new legislation that has billions of dollars aimed at supporting clean energy products.
(Bloomberg) -- Hon Hai Precision Industry Co., the maker of most of the world’s iPhones, posted a profit that beat estimates as demand for its cloud products helped it weather supply-chain snarls and sluggish smartphone demand.Most Read from BloombergAuthor Salman Rushdie Stabbed on Lecture Stage in New YorkTrump Calls for Release of Warrant Documents Used in SearchThe Fed’s Damage to the Housing Market May Last YearsChina State-Owned Giants to Delist From US Amid Audit SpatApple Inc.’s biggest
After picking up speed last month, Lordstown Motors (NASDAQ: RIDE) stock accelerated its way into August and rallied a whopping 31.6% at its highest point in trading during the first week, according to data provided by S&P Global Market Intelligence. Lordstown Motors released its second-quarter earnings report on Aug. 4. First, Lordstown Motors didn't generate any revenue during the quarter, and its first operating profit came entirely from the sale of its manufacturing plant.