First EV SPAC Announces its Stock Will Go to Zero and Die by Wolf Richter • Jun 13, 2022 • 95 Comments From SPAC merger to Chapter 7 bankruptcy in 12 months. That was fast! Congratulations on the speed and on being first!
EV IPO Insta-Collapse: Phoenix Motor Plunges into Void on 1st Day, More on 2nd Day. Parent SPI Energy Already Imploded 99% by Wolf Richter • Jun 9, 2022 • 70 Comments Wall Street is still trying to bleed retail investors. But they’re no longer all that eager to get bled.
What I think Musk Did, Genius Manipulator he is, by Threatening to Decimate Tesla’s Salaried Staff & Management while Increasing Headcount of Factory Workers by Wolf Richter • Jun 3, 2022 • 270 Comments He has a rebellion over WFH on his hands, not a demand problem for EVs, and is knuckling them into submission.
EV SPACs Warn about Running Out of Cash: The Beginning of the End for the Craziest Stock Bubble Ever by Wolf Richter • May 30, 2022 • 173 Comments Electric Last Mile said it might only make it “into June.” So far in this cycle, 25 SPACs have warned they might not make it, including 6 EV SPACs.
Average Age of Cars & Trucks in Operation Rises to Record, as New Vehicle Sales & Miles Driven Plunged by Wolf Richter • May 23, 2022 • 79 Comments Scrappage rate dropped to lowest in two decades, as used vehicle prices spiked the most ever.
Economical Cars, Hybrids, Small SUVs Suddenly Hot, Inventories Depleted. But Supply of Trucks & Full-Size SUVs Rises by Wolf Richter • May 22, 2022 • 147 Comments Funny how that works when gasoline prices spike.
That Drop in Used Vehicle Wholesale Prices Already Fizzled. Prices Rise Again. Dealer Listing Prices Hit Record $28,365 by Wolf Richter • May 21, 2022 • 135 Comments Buyers’ revolt, sales plunge 19%. But dealers, sitting on high-priced inventory, resist price cuts, which would boost sales.
Inflation in Services, Housing, Food, New Vehicles Goes WHOOSH as Dollar’s Purchasing Power Goes to Heck by Wolf Richter • May 11, 2022 • 139 Comments Used vehicle prices continue to back off from ridiculous spike. But drop in gasoline prices was “transitory,” as we’re now learning at the pump.
State of the American Debt Slaves: Borrowing More to Buy Less due to Raging Inflation by Wolf Richter • May 6, 2022 • 132 Comments Credit card balances up 3.0% from 2019, CPI inflation up 13%, LOL. Auto sales plunged, but auto loans jumped. You guessed it, ridiculous price increases.
Deep-Junk-Rated Carvana Gets $4.5 Billion from New Investors, after Shares Collapsed by 79%, Hoping the World Hasn’t Run out of Greater Fools Yet by Wolf Richter • Apr 25, 2022 • 88 Comments The cash-burn machine needs new fuel.