EV startup Fisker files for bankruptcy

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 18 June 2024

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stock markets rise; manufacturing output goes up; EV startup Fisker goes bankrupt; Nvidia becomes world’s most valuable company.

Transcript

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0:00.0	Stocks close higher. I'm Henry Epp with the Marketplace Minute.
0:04.8	U.S. stock markets rose today. The Dow Jones was up over a 10%
0:09.2	the S&P 500 closed up a quarter percent. The NASDAQ climbed just slightly.
0:14.0	Markets will be closed tomorrow for the Juneteenth holiday.
0:17.0	Manufacturing output jumped 9 tenths percent last month,
0:20.0	according to the Federal Reserve. That followed a drop in April and was higher than
0:24.1	forecasters expected. Manufacturing rose almost across the board with increases in
0:29.0	consumer goods and business equipment. Electric vehicle startup Fisker has filed for bankruptcy.
0:34.4	The company once told investors it expected to top $10 billion in revenue by this year.
0:39.8	Instead it ended 2023 with a nearly billion dollar net loss, according to the Wall Street Journal.
0:45.6	And Chipmaker NVIDIA has now topped Microsoft in Apple to become the world's most valuable company.
0:51.3	Its market capitalization now tops 3.3 trillion dollars.
0:55.2	NVIDIA's chips have helped power the boom in artificial intelligence technology.
0:59.4	I'm Henry App with the Marketplace Minute.

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