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Apollo-Backed Blank-Check Company Surges 71% on Possible Fisker Deal

(Bloomberg) — The allure of electric vehicles is boosting shares of blank-check companies, the latest being Apollo Global Management-backed Spartan Energy Acquisition Corp.Spartan Energy became something of an overnight sensation Thursday after Reuters reported that it was leading a bidding war for carmaker Fisker Inc. Spartan’s stock has now gained as much as 71% in the course of two trading sessions, mirroring the meteoric rise of Nikola Corp., the semi-truck maker that listed on the Nasdaq following a blank-check company reverse merger.It’s unclear to what extent a case of mistaken identity could be coming into play. Fisker is veteran car …read more […]

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American Airlines threatens to cancel some Boeing 737 MAX orders – WSJ

American Airlines has struggled to secure financing for 17 jets it had expected Boeing to deliver this year due to the coronavirus crisis, the report said, citing people familiar with the matter. Boeing has been working to help line up financing for American’s 737 MAX jets, and under one possible scenario, the planemaker’s financing arm could purchase the aircraft and lease them to American, eventually selling the planes and the payment stream to leasing companies, according to the report. …read more […]

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3 “Strong Buy” Penny Stocks That Could See Outsized Gains

The market’s roller coaster week has some investor spooked, wondering if the recent bullish streak will hold. They can take heart from JPMorgan strategist Marko Kolanovic, who believes that the bull spirit isn’t gone, and that the S&P 500 will break out of the 250-point range it has been stuck in since early June. He doesn’t say that the massive gains of April and May will return, but Kolanovic does believe that the index will regain the all-time record levels it saw in mid-February.Kolanovic notes that equities are cheap for now, when compared to bonds, after the effects of the …read more […]

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BlueCity Holdings IPO: Chinese LGBTQ Platform Goes Public

The BlueCity Holdings IPO was filed in June 2020. After a wave of IPOs brought the IPO market back, BlueCity hopes to join in the success. Technology IPOs in the past year returned 59%. Now, investors are looking to invest in BlueCity stock.
But is BlueCity a good investment? Here’s what we know…
BlueCity Holdings IPO: The Business

Policeman Baoli Ma founded an LGBTQ online forum called Danlan.org in 2000. For the next 11 years, he promoted social awareness and connectivity in the LGBTQ community as well as HIV awareness and prevention. In 2011, Ma resigned from his career as a cop. He …read more […]

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‘The Ultimate Hold’: Why Disney has investors stuck in place

Walt Disney Co is planning to reopen its Orlando-based Walt Disney World theme park on July 11, ending the longest shutdown of the company’s highly profitable U.S. theme park division in its history. Instead, they point to the company’s already-high valuation as a result of the outsized success of its Disney Plus streaming platform as limiting any benefit from the resumption of its U.S. park operations. Disney did not respond to a request for comment. …read more […]