Friday’s traders will watch past SPAC star QuantumScrape (QS). The electric vehicle battery developer posted a milestone yesterday. PowerCo confirmed the firm’s solid-state lithium-metal cells technology by Volkswagen (VLKAF). The cell completed more than 1,000 charging cycles.
QS stock gained around 50% on Thursday.
In the cryptocurrency platform space, Coinbase (COIN), which peaked at over $187 on Dec. 28, might test support levels. $150 is the rally zone as its share price depends on Bitcoin’s (BTC-USD) strength.
Automotive chip play Mobileye Global (MBLY) lost one-quarter of its value yesterday. The drop rewarded bears who built a short interest of 18.88%. For Q4/2023, Mobileye expects revenue of $623 million to $648 million. The low-end target is below its previous range of $634 million to $638 million.
For 2024, Mobileye’s sales target of as low as $1.83 billion is below the $2.58 billion estimate.
Drug store Walgreens (WBA) finally slashed its dividend in half to 25 cents a share. It maintained its fiscal 2024 EPS guidance of $3.20 to $3.50. This factors in the lower sale and leaseback contributions, higher taxes, and lower Covid-19 tailwinds.
Watch for volatility in tech giant Tesla (TSLA). Without Tesla’s strong stock performance, other EV stocks risk falling. With Amazon (AMZN), investors are nervous that its additional fees for ad-free streaming could result in higher subscription cancellations.