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Hertz abandons plan to sell $500 million of ‘worthless’ stock after SEC review

by Troy S. Mason | Jun 18, 2020 | Business News

Hertz halted its plan to sell $500 million in common stock Wednesday pending a review from the Securities and Exchange Commission after the rental car company said the shares “could ultimately be worthless.” The company’s stock stopped trading late in the morning after SEC Chairman Jay Clayton voiced his concerns. “In this particular situation, we […]

Tesla loses $13 billion in market value after Elon Musk tweets its stock price is ‘too high’

by Troy S. Mason | May 2, 2020 | Business News

Shares of Tesla dropped as much as 12 percent Friday before closing down 10.3 percent after CEO Elon Musk tweeted that the company’s shares are priced “too high.” The company just days before reported a strong quarter, sending shares higher. Tesla stock was trading at...

Gilead stock falls after disappointing early trial results for highly anticipated coronavirus treatment

by Troy S. Mason | Apr 24, 2020 | Business News

Stock trading was briefly halted Thursday for California-based Gilead Sciences, after a draft report said the company’s experimental coronavirus treatment disappointed in a recent drug trial. Shares continued to slump, even after the biotech company moved...

Hope for an effective coronavirus treatment pushes up stock market

by Troy S. Mason | Apr 18, 2020 | Business News

Stocks surged after a report said a Gilead Sciences drug showed some effectiveness in treating the coronavirus, giving investors some hope there could be a treatment solution that helps the country reopen faster from the widespread shutdowns that have plunged the...

Stock market attempts a rally, amid record-shattering unemployment figures

by Troy S. Mason | Mar 26, 2020 | Business News

Wall Street attempted a rally Thursday morning, despite record-breaking unemployment claims that revealed the extent to which the economy has ground to halt due to the coronavirus pandemic. The Dow Jones Industrial Average was up by around 330 points at the opening...
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