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Stock Market Coverage, Pre-Market News, Cathie Wood Buys BYD, AMC, GME, HYMC Stocks On Fire [Video]

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Stock Market Coverage, Pre-Market News, Cathie Wood Buys BYD, AMC, GME, HYMC Stocks On Fire

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Tesla Bull Cathie Wood Increased Stake in This Warren Buffett-backed Chinese EV Maker On Monday
Tesla Inc TSLA bull Cathie Wood-led Ark Investment Management on Monday further raised its exposure in BYD Co BYDDY, a Chinese electric vehicle maker that has the backing of veteran investor Warren Buffett’s Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B).

The popular investment firm bought 35,000 shares, estimated to be worth $1.92 million, in the Shenzhen-based legacy automotive player that has switched to making electric vehicles and hybrids.

BYD stock closed 0.7% higher at $54.97 a share on Monday. The stock is down 21% year-to-date.

BYD, short for Build Your Dreams and founded by Chinese billionaire Wang Chuanfu, competes with local rivals such as Nio Inc NIO, XPeng Inc XPEV, Li Auto Inc LI, and the current global EV leader Tesla.

Hycroft Mining Was ‘Exactly Like AMC A Year Ago’: AMC CEO Explains Miner Acquisition
At first glance, it seems quite peculiar, but AMC Entertainment Holdings Inc’s AMC recent investment in Hycroft Mining Holding Corp HYMC makes more sense below the surface.

There were a lot of unknowns in terms of how the market would interpret the acquisition, but that didn’t stop AMC from pursuing the opportunity.

“There was one thing that we were certain of: we were going to make a lot of money,” AMC Entertainment CEO Adam Aron said Monday on CNBC’s “Squawk On The Street.”

AMC has shifted its focus to not only reviving the AMC of old, but also toward transforming its business after retail investors likely saved the company from bankruptcy and, moreover, gave it enough capital to play offense.

Why Hycroft? Management has been tasked with finding appropriate ways to put the company’s sizable cash position to work. Looking into the opportunity with Hycroft Mining, AMC saw an iteration of its past self.

Hycroft Mining Holding Corporation
HYMC
+ Free Alerts
+81.25%
Newegg Commerce Inc
NEGG
+ Free Alerts
+43.41%
AMC Entertainment Holdings Inc
AMC
+0.07%
+ Free Alerts
+44.95%
GameStop Corp.
GME
+0.21%
+ Free Alerts
+24.73%
Bed Bath & Beyond Inc.
BBBY
+ Free Alerts
+16.51%
Koss Corporation
KOSS
+ Free Alerts
+24.24%
BlackBerry Ltd
BB
-0.07%
+ Free Alerts
+3.65%
Sphere 3D Corp
ANY
+ Free Alerts
+29.59%
Riot Blockchain Inc
RIOT
+ Free Alerts
+10.12%
Tesla Inc
TSLA
+ Free Alerts
+8.03%
Nio Inc – ADR
NIO
-0.04%
+ Free Alerts
+6.53%

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đŸ”„ Disclaimer: Everything expressed in this video is a personal opinion provided for entertainment value only. I am not a professional nor a financial advisor. These are not instructions, suggestions, nor directions as to how to handle your money. Please, always do your own due diligence.
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