Canoo soared 23.67% on a Q3 update including news of its first vehicle to begin production before Q4 FY22.
US markets green; Roblox soared 7.5% on education expansion; Canoo skyrocketed 23% on Q3 update.
The Nasdaq rose 0.8% to close Tuesday’s session at 15,974 points.
Roblox surged 7.5% on the creation of a ‘Roblox Education division’.
Canoo Holdings skyrocketed 23.67% on Q3 update & production timeline.
The US markets closed higher on Tuesday as US retail sales data for October increased 1.7% indicating a strong rebound in consumer spending ahead of the holiday season, giving the economy a strong lift to start the fourth quarter.
The Dow Jones rose 0.15% to finish the trading day up 55 points to close at 36,142 points.
The tech heavy NASDAQ rose 0.8% to finish the trading day up 120 points to close at 15,974 points with Tesla and Netflix gaining 4.08% and 1.19% respectively.
One bitcoin is worth US$60,707 going into the Asian trading day.
The Australian dollar is stronger against the major currencies and is buying 73.04 US cents.
Roblox shares surged 7.5% on Tuesday after announcing plans to introduce an educational division to the company to expand into the classroom as children around the world head back to school. The company announced the foundation of ‘Roblox Education’ that aims to ‘support 100 million students learning on the platform by 2030’, as well as creating a US$10m fund dedicated to ‘bringing high-quality educational experiences to Roblox’.
Shares in EV start-up Canoo Holdings skyrocketed 23.67% on Tuesday after the company released a Q3 update which was better than expected. For the period, Canoo reported a net loss of US$80.90 million which was nearly 100% attributable to product development and administration costs, but the company said it expects to begin production of its first vehicle, a battery-electric passenger van called the Lifestyle Vehicle, before Q4 of FY22.
And Instagram is reportedly working on a new security measure that will require users to film themselves from multiple angles to prove they are a real person upon setting up a profile in a bid to reduce the amount of fake profiles created on the platform.
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