🏋️Omicron: GO GO GO ⏱
Here comes a piece of good news. The variant appears to be able to bypass protection with two doses of Pfizer. However, a study had also shown that those infected and received two doses were able to neutralise the variant, a hint that booster doses can perhaps help alleviate the risk of infection. Re-infection has been a critical concern for health authorities worldwide.
The ongoing positive news on vaccines helps reduce the fear that vaccines in their current form offer no protection. However, Pika World generally believes that market participants are more focused on the Fed’s action in next week’s FOMC meeting.
⛳️Volkswagen: Porsche IPO on the Card🎙
The luxury car company is considering listing its brand car, Porsche, as part of its initiative to fund its electric vehicle ambition. It is expected to fetch about 45 billion to 90 billion euros in valuation.
As part of the deal, the Piech and Porsche families who own a significant share of Volkswagen would sell a portion of their stake to help fund a direct share of the luxury car brand. This would raise around 15 billion euros. Ultimately, the family will still maintain as the major shareholder.
Intending to become the world leader in electric vehicles, the move reflects the struggle and determination of CEO Herbert in revamping the legacy car brand as it tries to snug off the woes of supply chain issues and the trouble in the Chinese market.
🚗ChargePoint: Not Charging Yet🚚
The company’s latest earnings report is somewhat mixed. The third-quarter loss was more comprehensive than expected, at $69.4 million. Nonetheless, revenue had registered a strong growth of 79% to hit $65 billion, which is at the upper end of the company’s guidance.
Adjusted gross margin is healthy as it rose to 27% compared to 20% a year ago. It now expects full fiscal year revenue to be around $235 million to $240 million, slightly higher than its previous guidance.
Pika World remains vested in the counter given the US infrastructure bill favouring green energy and EV growth.
We hope you enjoy this read. Pika World wishes you a profitable week ahead!
Cheers,
Pika Nat
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