Diamonds and Dogs
Rivian Automotive (RIVN) surpasses GM and Ford in market cap. The eleven-year-old electric car maker is now the world's fifth-largest automaker by market cap even though they have only delivered a few electric vehicles to customers so far and have lost over a billion dollars year to date. After gaining 29% in their first day of trading, Rivian's stock is up 11% today, nearing a $100 billion dollar market cap. Impressive.
Walt Disney (DIS) taking a hit today. Disney is down 8% after missing earnings estimates even as sales rose 26% to $18.53 billion. The big disappointment came at Disney + which only added 2.1 million subscribers verse 12.4 million subscribers in the prior quarter. Disney's theme parks improved, but slower than analysts expected.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.