Hot chinese ADRs soared in morning trading. Alibaba, Pinduoduo, JD.com, Netease, Baidu, Bilibili, DiDi, Nio, Xpeng Motors and Li Auto climbed between 5% and 16%.
U.S. Stocks Open Lower on Friday; Amazon Shares Plunges More Than 10%
U.S. stocks fell Friday morning to wrap up April trading, with the Nasdaq Composite on pace for the worst month since March 2020.The tech-heavy Nasdaq Composite fell 1.2%. The Dow Jones Industrial Average fell about 120 points, or 0.4%. The S&P 500 retreated by 0.9%.Investor focus Friday was on Amazon, whose shares tumbled morethan10% in morning trading after reporting Thursday evening a surprise loss thanks to its investment in Rivian and issued weak revenue guidance for the second quarter.Appl
Elon Musk Sold around $8.4 Billion Worth of Tesla Shares This Week
Tesla IncChief Executive Officer Elon Musk sold about 5.23 million shares in the electric vehicle maker, worth about $4.5 billion, in multiple open market sales on April 28, a securities filing showed on Friday.Elon Musk sold roughly $8.4 billion worth ofTeslashares this week, following his bid to takeTwitterprivate, according to filings with the Securities and Exchange Commission.The Tesla and SpaceX CEO offloaded about 4.4 million shares of his electric vehicle company in trades on Tuesday and