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Nikola stock falls 9% following pandemic-linked offer-chain disruptions



Nikola stock falls 9% after pandemic-related supply-chain disruptions

Nikola Corp. shares fell additional than 9% just after hours Tuesday immediately after the electric powered-car maker documented a second-quarter reduction that was wider than Wall Street anticipated and stated that the COVID-19 pandemic disrupted its provide chain.

stated it lost $86.6 million, or 33 cents a share, in the quarter, as opposed with a reduction of $16.8 million, or 6 cents a share, in the calendar year-back time period. Modified for one particular-time things, Nikola shed 16 cents a share in the quarter.

Analysts polled by FactSet experienced envisioned Nikola to write-up a GAAP reduction of 13 cents a share on no revenue.

Associated:Chinese electric powered-car or truck maker Li Vehicle soars 50% publish-IPO

“The world wide pandemic caused disruption in Nikola’s offer chain, but mitigation endeavours are underway to lessen the ensuing threat to production timelines,” the organization claimed in a statement. “At this time, we feel Nikola’s long-time period goals will be materially unaffected by COVID-19.”

Nikola mentioned its Nikola Tre, a hydrogen-run extensive-haul truck, is on monitor to commence output in the fourth quarter of 2021. The first couple of units will be manufactured at Nikola’s Germany manufacturing facility, which is going through modifications. The moment full, this facility will be capable of creating up to 10,000 models a yr, Nikola said.

In addition to the buildout in Germany, Nikola said it broke ground on July 23 on a production facility in Coolidge, Ariz.

“Once concluded, the Coolidge production facility will be capable of generating up to 35,000 vans for each calendar year at complete potential on two shifts. Section just one of this construction is predicted to be total by Q4 2021,” the business said.

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Nikola went public in June, and shares doubled soon soon after.

In just times, Tesla Inc.
Chief Executive Elon Musk was urging his enterprise to “go all out” with the Tesla Semi, the Silicon Valley car maker’s very long-haul electrical truck, predicted to be readily available in 2021.

See also:Nikola on highway to ‘disrupt transportation,’ JP Morgan says

Nikola’s level of popularity is also part of a wave of IPOs by a exclusive reason acquisition corporation, or SPAC, also identified as blank-check out companies. Electrical-car maker Fisker Inc. also selected to go general public as a result of a SPAC.

Shares of Nikola have gained 273% this yr, when compared with gains about 2% for the S&P 500
and contrasting with a loss around 6% for the Dow Jones Industrial Typical.

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Model: Everybody, Entertainment, Movies/Movies, History, News

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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