Carvana nirvana? Shorted stock surges 56% as company predicts record profits

June 8, 2023

On Thursday, online car-retailer Carvana announced an especially rosy outlook (i.e. forecasted record profits) for the second quarter of 2023, and investors responded by driving the company’s stock price up 56% before the market closed. The company closed the day worth $4.58 billion, according to Google Finance data. The retailer — a popular short — predicted […]

Carvana nirvana? Shorted stock surges 56% as company predicts record profits by Harri Weber originally published on TechCrunch

GM follows Ford’s lead and adopts Tesla chargers

June 8, 2023

General Motors will integrate Tesla’s electric vehicle charging standard in its future EVs, CEO Mary Barra said Thursday during a Twitter Spaces with Tesla CEO Elon Musk. The agreement between the erstwhile rivals comes less than two weeks after Ford announced a similar partnership, and signals that other automakers could soon follow. As with the […]

GM follows Ford’s lead and adopts Tesla chargers by Rebecca Bellan originally published on TechCrunch

Firefly buys Spaceflight Inc. to boost on-orbit services

June 8, 2023

Firefly Aerospace has acquired launch and in-space transportation service provider Spaceflight Inc., in a bid to expand its on-orbit capabilities for customers. Firefly did not disclose the terms of the deal but a company spokesperson confirmed that the transaction has closed. The spokesperson added that the entire Spaceflight team, including CEO Tiphane Louradour, will be […]

Firefly buys Spaceflight Inc. to boost on-orbit services by Aria Alamalhodaei originally published on TechCrunch

The Porsche Mission X dreams of a faster, electric sports car future

June 8, 2023

Porsche kicked off its 75th anniversary Thursday with an electrifying reveal: a battery electric hypercar concept the automaker described as a “technology beacon for the sports car of the future.” For Porsche, that means more than splashy details like an  “E” on the rear that illuminates and pulses when being charged — although that is […]

The Porsche Mission X dreams of a faster, electric sports car future by Kirsten Korosec originally published on TechCrunch