Shopee’s Record Black Friday Sales Propel Stock Surge

Shopee’s Record-Breaking Sales on Black Friday Drive Surge in Stock Price

Shopee, a popular e-commerce platform, has announced record-breaking sales, leading to a significant increase in its stock price. On Black Friday, Shopee’s global sales saw a remarkable 22% increase compared to the previous year, reaching a staggering $4.1 billion. This astonishing performance surpassed market expectations, causing Shopee’s stock price to soar by 4.9% on the New York Stock Exchange.

Positive Growth Outlook and Analyst Insights

Market analysts predict that Shopee’s stock price, which has already risen by nearly 60% this month, will continue its upward trajectory. This growth is expected to surpass the previous monthly record set in April 2020, which stood at 51.7%. Currently, Shopee’s stock is trading at its highest level since April 5, 2022, at $73.86.

Analysts, including Oppenheimer’s Ken Pong, anticipate that Shopee’s real-time data indicates a further increase of over 20% in sales during both Black Friday and Cyber Monday. Shopee’s success can be attributed to its technological advantage and ability to provide a seamless shopping experience, catering to the rising consumer demand for e-commerce and online shopping.

Lucid Group Faces Credit Downgrade Despite New Car Announcement

Investment firm Nedom has downgraded its investment rating for Lucid Group (LCID) stock from “buy” to “hold.” As a result, Lucid Group’s stock price experienced a decline. Despite the positive response to their recently unveiled Gravity SUV, concerns about limited demand for Lucid Group vehicles have been raised.

Lucid Group, an electric vehicle (EV) startup, is facing difficulties due to high interest rates and a recent stagnation in demand for luxury electric vehicles. The company has yet to turn a profit, resulting in a 57% decline in its stock price over the past 12 months.

Currently, only 7% of analysts covering Lucid Group rate the stock as “buy,” with an average target price of $5.30. This is a significant decrease compared to the previous year when 33% of analysts rated it as “buy” with an average target price of $16.60.

Lilium Receives EU Approval for Electric Air Taxi Design and Operation

German electric air taxi company, Lilium, has announced that it has obtained approval from the European Union (EU) for the design and operation of its vertical takeoff and landing aircraft. This milestone allows Lilium to have the authority to design and manufacture flying taxis without relying on officially agreed or implemented rules.

Lilium aims to start commercial flights in 2025 and has met the stringent safety standards set by the European Union Aviation Safety Agency (EASA). Their electric jet, powered by electric motors and utilizing multiple small propellers for vertical takeoff and forward thrust during flight, is primarily designed for urban transportation.

Lilium’s approval marks a significant moment in the industry for producing flying taxis. The electric air taxi market is becoming increasingly competitive, with companies like Boeing, Airbus, and Germany’s Volocopter also participating.

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