Insider buying is surging. Why it may not signal a market bottom

Stock buying by corporate insiders has risen sharply in May, but retail investors may want to hold out a little longer before following their lead. Through May 23, the ratio of insider buy-to-sell value was at its highest monthly level since March 2020, according to data from The Washington Service. The number of inside buyers … Read more

Soros fund doubles down on Rivian bet, buys stakes in Lucid, Nio

Billionaire George Soros’ investment fund has doubled down on its bet on Rivian Automotive Inc. and taken new positions on EV makers Nio Inc. and Lucid Motors Inc., according to a filing late Friday. As disclosed in February, Soros’ fund had bought nearly 20 million shares of Rivian RIVN, + 9.88%, worth about $ 2 … Read more

Carvana, GameStop, AMC, General Motors and more

Check out the companies making headlines in midday trading Thursday. Carvana – Shares of the online used car retailer popped nearly 30%, alongside other heavily-shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on Wall Street recently, with downgrades this month from … Read more

China’s Beijing city loosens robotaxi rules for Baidu Apollo Go, Pony.ai

Chinese tech companies Baidu’s Apollo Go and Pony.ai announced Thursday they received permission from Beijing city authorities to remove the safety driver for part of their robotaxi business in a suburban part of the city. Vcg | Visual China Group | Getty Images BEIJING – China’s capital city has moved one step closer towards letting … Read more

Shanghai by the numbers: China’s Covid lockdowns

The Huangpu River splits the Chinese city of Shanghai between the older settlement on the west and the newer, financial center on the east. Johannes Eisele | Afp | Getty Images China’s latest wave of Covid restrictions has forced millions of people – roughly three times as many as live in New York City – … Read more

China’s BYD ends full combustion engine cars to focus on electric, plug-in hybrids

A BYD Co. electronic vehicle (EV) is charged at an EV charging station at the company’s campus in the Pingshan district of Shenzhen, China. Brent Lewin | Bloomberg | Getty Images China’s largest electric vehicle (EV) maker BYD said that as of last month it stopped making combustion engine vehicles and now produces full electric … Read more