![]() His offer of 70 bucks a share- that's according to "The Wall Street Journal"- represents a premium of about 9%, Dave, from the closing price yesterday. Now, Hamm is offering about $4.3 billion in cash to buy the portion of the company that his family doesn't currently own. Now he's the billionaire fracking pioneer who helped launch the US shale boom. Now the shale company announcing an all-cash buyout proposal from the family trust of founder Harold Hamm. But we will see.Īll right, moving on here, a takeover offer sending shares of Continental Resources surging today. We'll see whether it's a, buy the rumor, sell the news, type of event tomorrow. So stock down pretty significantly year to date. The company has come out warning about it as late as March, saying that these are issues that they're still expecting to deal with for the remainder of this year. You mentioned the fact that there have been the chip shortages have been affecting the company. I think that's the big issue facing the company. But when we talk about the market size of China and the potential for the company there, they are going to need to scale that production and do that quickly. Yes, that's a step in the right direction. ![]() And when you take a look at that number, in May alone, they only delivered 7,000 vehicles. But the big issue with NIO- and we've discussed this many times before- is production and deliveries. But NIO, it's on track for the biggest pop that we've seen since mid-March, obviously something that investors welcome, something that they are excited about. SEANA SMITH: Yeah, Rachelle, the new SUV, we're going to see it tomorrow. And that could signal wider adoption for the brand. The stock is down 42% year to date, but they are banking on these deliveries of these ES7s. They also had a cut in EV subsidies from Chinese regulators, as well as more scrutiny for them and other tech giants as well, which also then delayed the launch of this ES7 SUV. Its cash balance wasn't enough to provide working capital and liquidity to continue operations.Īnd then, of course, came the pandemic. Now, two years ago, there were doubts that the Shanghai-based company could even stay in business. Now, unlike other EVs, NIO uses a swappable battery that could be switched out for a fully charged one in a few minutes, rather than relying on sort of having time with a plug-in charger. Now, investors bought the dip ahead of the unveiling of Nio's newest product launch, which is its ES7 SUV. As you can see, it's up more than just about 17% there on the day. Now after sliding Monday, the stock popped today. Now, it's often considered the Tesla of China. Yahoo Finance Live looks at several of today's trending stocks tied to leading industry stories, including billionaire Harold Hamm's offer to take his company Continental Resources private.
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