Shares of Rivian and different EV start-ups tank amid inventory sell-off

Rivian electric trucks are parked near the Nasdaq MarketSite building in Times Square on November 10, 2021 in New York City.

Michael M Santiago | Getty Images

shares of Rivian Automotive and other electric vehicle startups rebounded from steep intraday losses on Monday after hitting 52-week or record lows amid a broader market sell-off earlier in the day.

Rivian, Lordstown engines, Faraday future, NEVER, canoe, Nikola Corp. and Electrical solutions for the last mile all down 10% to 18% by 1pm before those losses were erased or narrowed in afternoon trade as broader markets rallied.

Shares in Nikola, Lordstown Motors, Canoo and ELMS all ended in the green, up between 1% and 5.5%. Shares in Rivian closed down about 1%, while shares in Chinese automaker Nio fell 9.1% and Faraday Future pared losses to close 4.7%.

Volatility among pre- and early-sales EV companies followed fluctuations in the broader market as investors decided to take advantage of prices after a sharp sell-off in morning trade.

The Nasdaq Composite Index turned positive after falling as much as 4.9% at the start of the session. The Dow Jones Industrial Average rose 100 points after falling more than 1,000 points in one fell swoop. The S&P 500 traded in the green after briefly falling into correction territory early in the session, more than 10% below its record close on Jan. 3.

Stocks of established automakers such as Tesla, General Motors and Ford engine also reduced losses to close less than 2%.

Shares in Rivian, one of the most-watched EV startups, fell below $60 a share on Monday for the first time since the company’s blockbuster IPO in November. The stock is down 38% since the company went public.

Here’s a look at several EV startups, as well as Tesla and legacy automakers GM and Ford, both of which have announced significant investments in electric vehicles.

— CNBC’s Hannah Miao and Yun Li contributed to this report.

Vid exhibits Ukrainian troops testing Javelin missiles in opposition to Russian cage-style tank armor

UKRAINIAN troops were recently filmed testing US-made Javelin missiles against Russian cage-style armor.

Video released on Thursday by the Ukrainian press service of the Joint Armed Forces, shows armed forces performing combat exercises in an area of ​​conflict with separatists in the east Ukraine.

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Ukrainian troops were recently filmed testing Javelin missiles against Russian cage-style armored tanksPhoto credit: Facebook / Ukrainian Joint Forces Operation
The target appeared to be a Cold War era tank turret

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The target appeared to be a Cold War era tank turretPhoto credit: Facebook / Ukrainian Joint Forces Operation

The exercises took place on a training ground, according to the General Staff of the Armed Forces of Ukraine.

The target was about a mile away and appeared to be a Cold War-era tank turret.

Officials said this was the first time the troops had fired the spear.

Since 2018 Ukraine – which is trying to join the organization of the North Atlantic Treaty, or NATO – Received US ammunition and Javelin missiles, which has been criticized Moscow.

Kiev has accused Moscow of massaging tens of thousands of soldiers in preparation for a possible offensive and fears that a simmering conflict in Ukraine’s eastern Donbass region could break out into open war between neighbors.

Russia denies planning an attack, but blames Ukraine and the Ukraine US destabilizing behavior.

Last week it was reported that Russia was holding its own military exercises nearby – including Black Sea Fleet SU-30 fighter jets and SU-24 bombers conducting aerial refueling exercises over Crimea, the Black Sea Peninsula that Russia annexed from Ukraine in 2014.

Ukraine’s chief security officer Oleksiy Danilov said Wednesday that 122,000 Russian soldiers are 200 kilometers from the border with Ukraine.

AT THE FRONTLINE

Danilov said Reuters last week that Russia At least 500,000 to 600,000 soldiers would be needed at the border “to keep the situation under control in the event of an offensive”.

He also said Russia could top up its troop numbers very quickly and at any time, but it would take more than 24 hours to get enough troops to the border to launch an invasion.

On Friday, Ukrainian President Volodymyr Zelenskyi made a video call to 20 US senators and members of the congress amid growing tensions with Russia.

“Today more than ever it is not words that count, but decisive actions,” Zelenskyj is quoted in a statement.

“My goal is to stop the bloodshed in eastern Ukraine. Security in Europe is inconceivable without an end to the war in Donbass. “

Zelensky and the legislature also discussed putting further sanctions pressure on Russia. Washington’s Supporting Kiev’s “Euro-Atlantic aspirations” and Ukraine’s prospects for NATO membership.

TUGS OF WAR

Russia and Ukraine have been in a bitter tug-of-war since Moscow annexed the Ukrainian peninsula of Crimea in 2014 and supported the separatist uprising that has since killed more than 14,000 people.

A 2015 peace agreement brokered by France and Germany ended large-scale hostilities in Donbass, but efforts to find a political solution to the conflict have so far failed.

According to recent reports, Russia has approved plans for “urgent mass graves” amid fears that World War III could break out if Ukraine were to invade.

Russian socket MK claims the tombs were erected in priority after allegedly appearing in leaked legal documents expected to go into effect on Feb.1.

Officials said this was the first time the troops had fired the spear

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Officials said this was the first time the troops had fired the spearPhoto credit: Facebook / Ukrainian Joint Forces Operation
The exercises took place in an area of ​​conflict with separatists in eastern Ukraine

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The exercises took place in an area of ​​conflict with separatists in eastern UkrainePhoto credit: Facebook / Operation of the Joint Armed Forces of Ukraine
Russia has denied planning an attack on Ukraine

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Russia has denied planning an attack on UkrainePhoto credit: The Associated Press

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Shark Tank, Northwest-Type: Startup Finalists Chosen for TechfestNW

As with the NCAA finals, what started with more than 90 startups began among the top nine, all of which will be courting real dollars at the virtual TechfestNW on May 21st. The winning company will go home with an angel investment of $ 125,000.

The nine finalists were won by 90 companies that participated in an educational program and investment event this spring that brings together entrepreneurs, investors and founders.

These nine startups will be presented to the public and judges at TechfestNW, a virtual conference that WW is hosting in partnership with the Oregon Entrepreneurs Network.

Amir Yazdani is Executive Vice President at Comscore. He is also an investor who mentors and coaches startups and participates in this competition called Angel Oregon Tech. He believes these finalists have the ability to scale and create jobs as they grow.

What Are Angel Oregon Tech Investors Looking For? A business plan that is as good as the product.

“Sometimes there are some really clever technicians – you know they’re geeks, but they’ve never run a business before,” said Stewart Yaguda, partner of the Oregon Angel Fund and one of the investors who has since enrolled overseeing Angel Oregon Tech’s founders in March .

OEN Director Amanda Oborne says some of this year’s finalists were not from the technology world, but founders who worked in a particular area identified a problem in that area and found a solution.

“We think of tech geeks who dropped out of college and had a great idea,” said Obourne. “[This year’s finalists] They are usually people who come from an industry in which they have had a lot of really relevant experience. “

Oborne added that artificial intelligence powers many of this year’s standout products – from productivity-enhancing headphones to robots picking strawberries. “What I really see,” says Oborne, “is that technology is in everything.”

– – Wear, a prenatal yoga and meditation app designed to guide the user “through pregnancy, childbirth, and beyond”. The app was co-founded by Heather Struwe, a Minneapolis doula and yoga teacher, and Maya Page, who previously worked at Target and Adidas, and includes prenatal and postpartum yoga videos, audio meditations, and teaching articles for “every four trimesters of pregnancy. “Carry is intended to be a partner during the pregnancy process – and a real-time virtual alternative to personal yoga classes before and after the birth.

– – Easeenet, created by Erin McCune and Andrew Kallenberger, Portland, is a tool that enables users to organize and store their “digital estate”. That means passwords for social media accounts, as well as important documents that people often forget to give before they die. This adds an extra layer of red tape to the bureaucracy. Easeenet also acts as a password management tool for non-tech users and is available in paid and free versions.

– – ThereCo-founded by Jacob Flood and David Doyon, Montreal, Enophone makes the Enophone, which looks like high-end noise-canceling headphones – and costs $ 399. This is a comparable price to audio giants like Bose. But the Enophone does a lot more than that. The device has the very latest in noise cancellation technology, but it also uses EEG sensors to measure the electrical activity generated by your brain and heart, and uses data from your sensors and computer interaction to determine your focus. The algorithms support Enosound – music created by musicians and neuroscientists in search of the perfect soundscape for deep work – and Enowork, a software tool for optimizing focus.

– – The light, Founders of Brian Forrester and Huston Hedinger, Portland, is a recruiting software tool that creates videos based on job descriptions to attract the attention of potential employees. Lumina customers include healthcare organizations such as Zoomcare and Rochester Health – but also The Dyrt, which makes software for enthusiastic campers.

– – NeupeasFounded by Anshul Porwal and Div Gill of British Columbia, the company has developed a robot that can pick fruit when needed, in any lighting and in any weather. Neupeak is specially designed for strawberries and charges a fixed rate per pound of strawberries collected. The device is designed to save farmers money and address labor shortages, but is also designed to work safely among people so that it can be integrated “as seamlessly as possible” into the farm.

– – QChange could be a bad manager’s worst nightmare – or godsend for those looking to keep their employees awake in meetings. Rob Buckingham and John Howes of Bend, founded by James Kelley, use artificial intelligence to “make meetings less sick” – including virtual meetings. The first product, Leader Experience, enables executives to receive pre-meeting prompts that focus on behaviors they have identified as important. After meetings, they are asked how they did it – and a selected peer, manager, or direct report is asked to comment on their performance. Managers can also receive anonymous written feedback – and find out whether their self-perception aligns with the perception of their team.

– – Remote videouses artificial intelligence to remotely automate the video post production process and “provide high-end Hollywood-grade tools at a fraction of the cost”. The tool was created using data gathered from real-world experience by post-production artists and founders Jordan Snider and Jeremy Bircher. Both have experience in this field. Snider worked as a colorist for major film and photo retouchers for 15 years, and Bircher is a serial entrepreneur and video producer whose work includes root cause documentaries and advertising campaigns.

– – Rewire the neuro has developed two products – Pipsqueak and Pipsqueak AI – that use artificial intelligence to help scientists analyze biomedical images. Founder John Harkness received his PhD in Neuroscience from Oregon Health & Sciences University and was a research fellow at Washington State University before launching Rewire Neuro. Pipsqueak’s clients include OHSU, Legacy Health, Stanford and the Netherlands Institute of Neuroscience.

– – What is open is in beta but couldn’t be more up-to-date as businesses close, reopen, and switch to takeaway or al fresco dining – and the information listed online can quickly become out of date. Founders Ali Eltahir, Walied Faisel, and Patrick Wells – all based in Portland – created What’s Open to make it easy to find the most up-to-date information by linking to company information with references like Google, Facebook, and Yelp.

Information and tickets for TechfestNW and Angel Oregon Tech can be found at techfestnw.com.

College students Sink Or Swim in Ocean County Faculty “Shark Tank” Model Competitors

Ocean County, NJ – Help local high school students share ideas, answer questions about their “business,” and compete for the title of High School Entrepreneurial Team of the Year in Ocean County College’s second annual sink or swim competition. Everyone is invited to take part in this virtual event to learn more about innovations in the hometown while supporting the students. The event will take place online Friday, April 23, Registration is now possible.

The Sink or Swim competition is organized by the Business Innovation Consortium (BIC). BIC is an umbrella organization of business clubs that connects the talents and ideas of our best and brightest. Ten teams will compete with cash prizes for first, second and third place. A special scholarship is given to the student who presents the best place for his group’s project. This year’s judges are Lori Pepenella, CEO of the Southern Ocean Chamber of Commerce. Jim Mahlmann, Managing Director at Net Cetra, Michael Forcella, OCC Manager for Business Engagement, Continuing / Professional Ed, and Ms. Katie Calabrese, Director for Memberships and Projects, NACCE.

The students develop an entrepreneurial product or an entrepreneurial service. The more original the idea, the better! Each team will complete and submit a business plan. From the submissions, our first judges, both faculty members and Ocean / Kean students of the Entrepreneurial Club, will select the ten best business plans for the actual competition. These ten teams will be notified that they have been selected to showcase their product or service at our virtual event on April 23rd. Each team will select one student from their group to present a one-minute elevator seat to our second panel of judges, which includes prominent members of the Ocean County community. The judges have the opportunity to criticize / question the students about their idea.

Jacksonville faces problem in Legislature for septic tank cash

Jacksonville is facing a rise in state law for money that would help the city fulfill a 2016 promise to turn the page on septic tanks in three northwestern boroughs of Jacksonville.

The city sought $ 6 million from the legislature But as it stands, the House version of the budget for next year has nothing for Jacksonville to clean up septic tanks, and the Senate version only has $ 250,000.

However, as long as the Senate has the money in its version, the project will stay alive if the House and Senate leaders negotiate a final budget later in session.

“The good news is that if it makes that final cut (in the Senate) there is a chance.” said State Senator Aaron Bean, R-Fernandina Beach, who sponsored the Jacksonville inquiry on the Senate side.

More:Curry: It’s time to worry about getting the sewers into the septic tank districts once and for all

Jacksonville: List rates neighborhoods based on money that would drain thousands of septic tanks

Mayor Lenny Curry and Some city council members have said the city must finally address the high costs Extension of the JEA sewer pipes to parts of the city that have been dependent on septic tanks for decades. Curry has spoken out in favor of building hundreds of millions of dollars in sewerage for this purpose.

Phase one would be to fully fund the sewage service for three neighborhoods – Biltmore, Christobel and Beverly Hills – The city promised in 2016 would be remodeled from a decades-long dependence on septic tanks.

The city council unanimously voted on March 23 to allocate $ 14.4 million in new city funding and $ 12.5 million from JEA to the canal construction projects, which will cost more than original estimates. The third leg of the finance stool would be $ 6 million from the state.

JEA is already doing the job in the Biltmore neighborhood and would drive next to Christobel and then to Beverly Hills.

Curry has said that one way or another the city will get enough money to travel to all three boroughs.

“We will definitely complete these projects,” he said in February when he announced the plan for the additional spending with JEA. “That’s a fact. It will happen.”

He has personally met with state lawmakers about the city’s funding request and will continue to do so, according to the mayor’s office.

Getting the full $ 6 million from the state in next year’s budget will be a huge challenge.

Bean, who is temporarily president of the Senate, said that on a scale of zero to ten, with ten being the greatest chance of government funding, “the chance it’ll go away at $ 6 million is probably one. The chance that.” it goes away. ” with a little money is a 6. “

“I think the Jacksonville project is scalable, which means they’ll make the most of whatever is available,” said Bean.

He said Legislators’ awareness has increased on the environmental risks of aging septic tanks.

“It’s gaining momentum and more people are buying in what’s in our favor,” he said.

On the house side, a new rule for this session was that for a member-sponsored project that makes it into the house version of the budget, the dollar amount must be at least 50 percent of the amount originally requested.

Rep. Wyman Duggan, R-Jacksonville, said the rule is aimed at stopping cases where lawmakers have inflated requests many times beyond what they actually needed for a project.

In the case of Jacksonville’s motion, the new rule meant that the legislature that made the budget for the House should have paid at least $ 3 million for what would have been a large sum for a single project, Duggan said.

He said the rule does not apply to the final budget, which was negotiated in a House-Senate conference to make Jacksonville more flexible.

He said that as long as the Senate has money for Jacksonville in its budget, “it means they want to keep it in play for conference calling.”

The Senate’s proposed budget includes dozens of water projects across the country. These include $ 250,000 for Atlantic Beach for flood control in Hopkins Creek, $ 250,000 for rainwater improvement in downtown Fernandina Beach, $ 250,000 for draining American Beach wells and septic tanks in Nassau County and $ 250,000 for septic tank exit in Jacksonville.

The proposed budget for the home is $ 250,000 for Hopkins Creek, $ 600,000 for American Beach, $ 150,000 in St. Augustine for a septic tank sewer program in West Augustine, and $ 347,000 in beach resilience in St. Augustine Beach for the Ocean Walk subdivision .