Wall Street stumbles as major indices end below that flatline after up-and-down session
After something of a volatile day, the Dow closed down 82 points, 0.2%, at 34,312
4:10pm: Months after internet traders went all-in, AMC stock jumped again
After something of a volatile day, the Dow closed down 82 points, 0.2%, at 34,312. The Nasdaq ticked down 4 points to 13,657, and the S&P 500 declined 9 points, 0.2%, to 4,188.
AMC Entertainment Holdings Inc (NYSE:AMC), once a favorite of Reddit day traders, saw its shares rocket more than 20%. Citi analyst Jason Bazinet raised his price target for the movie theater chain to $3.70 per share from $2 per share, while maintaining a Sell rating, according to TheStreet.
Wall Street stumbles as major indices end below that flatline after up-and-down session
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Vicinity Motor Corp (CVE:VMC) (OTCQX:BUSXF) (FRA:6LG) reported a 588% year-over-year increase in its first quarter 2021 revenue to C$27.3 million as the company delivered 67 buses during the period, about 10 times more than a year ago. Vicinity also swung to a quarterly profit $2.0 million, or $0.07 per share, from a net loss of $1.7 million, or $0.07 per share, in the same quarter a year earlier.
Midwest Energy Emissions Corp (OTCQB:MEEC) (ME2C Environmental) reported its 1Q results showing a 171% bump in year-over-year revenue at $3 million for the quarter. The environmental technologies firm saw most of its revenue come from sorbent product sales, which hit $2 million. During the three-month period to end March 31, 2021, ME2C strengthened its balance sheet by eliminating $1.85 million in convertible debt.
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Gevo Inc (NASDAQ:GEVO) reported that it ended its first quarter 2021 with a cash and equivalents of $525.3 million, up from $78.3 million during the previous quarter, after the company completed two equity financings at $8 per share in January. Gevo also said the Front-End Engineering Design (FEED) work for its Net-Zero 1 project is on track and is expected to be completed in December 2021.
Marrone Bio Innovations Inc (NASDAQ) reported its 11th consecutive growth quarter with revenues increasing 14% year-over-year to $11 million. The Davis, California-based group attributed the revenue growth to “further market penetration” for its biological crop protection products, particularly driven by its Venerate, Grandevo and Regalia
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ESE Entertainment Inc (CVE:ESE) (OTCQB:ENTEF) announced that it has signed a letter of intent (LOI) to acquire Digital Motorsports, an Irish company that provides infrastructure, technology, and support for the esports industry. The company said Digital Motorsports is one of the leading simulation racing companies worldwide, with demonstrated profitability and double-digit, year-over-year revenue growth. “Our shared vision of becoming the number one global brand for esports in the motorsports industry was paramount in coming together to sign the LOI. We are excited to work closely with Digital Motorsports to build on their existing business, focusing on increasing revenue and profit margins,” ESE Entertainment Kon
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