Markets

GM says its battery technology will allow electric cars to travel 400 miles on a single charge without compromising driving performance. GM reacted positively, having gained over 3% yesterday.Chief Executive of General Motors Company (NYSE: GM), Mary Barra, announced on Wednesday that the company plans to invest $20 billion in the development of electric and automated vehicles. The investment should be through by 2025 and it’s meant as a direct challenge to Tesla Inc (NASDAQ: TSLA). This...

South Korean regulators have taken a decision that it is better to introduce important changes within the crypto industry rather than just put a major ban on it.The Indian government has recently made a move to crypto legalization. Ukraine, Canada, Belarus, the EU, and some other regions are joining the government-backed stablecoin fuzz. While looking at the situation, South Korea has recently legalized crypto, with a major Amendment.The Amendment will substantially change some parts of the...

Inovio(INO) stock is enjoying the rally as it put on almost 8% weight days after it announced that it will be speeding up plans for its coronavirus (COVID-19) vaccine.There are a few biotech companies currently working on treating the new coronavirus COVID-19 strain. For these companies right now, nothing is more important than giving the world a solution to either treat or prevent new cases of the virus, via a vaccine. While there is considerable progress being made by these firms, Inovio...

Moderna (MRNA) stock has fallen since the last week’s announcement of a possible vaccine for COVID-19. Its CEO has indicated that the prices for the coronavirus vaccine will be affordable.Moderna Inc (NASDAQ: MRNA) stock remained low. It lost 1.5% yesterday and today in the premarket it is nearly 4% down. This comes as the CEO of the biotech startup has indicated that the company’s COVID-19 vaccine will be affordable. Sources report that Stephane Bancel said that the price will be within the...

The $50 billion aid package offered by IMF is aimed at strengthening weak health institutions in the countries with emerging economies amid the coronavirus outbreak among other things.The IMF $50 billion aid package is intended to fight the coronavirus. This comes as countries are still spinning from the effects of the outbreak. For most of the developing countries, their responses to the epidemic seem to have been hindered by one thing only: money.Sources indicate that the Managing Director...

Tezos increased by a substantial 15% over the past 24 hours of trading, as XTZ cryptocurrency hit $3.30.The coin found support at the 0.5 Fib Retracement level and then rebounded by around 30% over the past four days.Tezos’ current 2020 high against bitcoin is at 0.0004073 (Binance). Tezos is the top 10 crypto project by market cap, with a market cap of $2.27 billion.Key Support & Resistance LevelsXTZ/USD:Support: $3.14, $3.00, $2.80.Resistance: $3.52, $3.65, $3.80.XTZ/BTC:Support:...

Tesla Model 3 cars underperformed customers’ expectations. According to buyers, the hardware in Model 3 vehicles was the 2.5 version as opposed to the 3.0 version the company promised. Tesla (TSLA) stock was up on Wednesday.Tesla Inc (NASDAQ: TSLA) stock is like a balance-wheel. A couple of weeks ago, shares were beating their own records several times. Then, as coronavirus was gathering speed and scale, TSLA stock plunged. Now, Tesla (TSLA) stock rises again.On Wednesday, Tesla shares ended...

To combat the pandemic-like situation with coronavirus spread, the Trump administration has ordered 35 million monthly N95 face masks from industrial giant 3M. The company has ramped up the production. 3M (NYSE: MMM) stock is up.The concerns of the coronavirus spread are rising every-single-day and the U.S. doesn’t seem to be prepared. On Wednesday, the Department of Health and Human Services clarified that the U.S. has only about 1% and not 10% of the N95 respirator masks. Such a situation...

Litecoin price declined below the $60.00 level before it found support near $56.00 against the US Dollar.LTC price is currently correcting higher above $60.00, but it is facing a lot of hurdles.There is a major declining channel is forming with resistance near $61.80 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).The pair could either rally towards the $68.00 level or it might restart its decline below $58.00.Litecoin price is trading near a major breakout zone against the...

Bitcoin is a complicated asset, but nothing appears more complicated about bitcoin than what category it should fall into.So, What IS Bitcoin, Exactly?Everywhere you look, attorneys, regulators and other members of the crypto and financial spectrums are wondering how bitcoin should be classified. Is it a currency? It is in the sense that it can be used to purchase goods and services. The trouble is that this practice is not mainstream enough yet to really get the “currency” aspect of bitcoin...