Economic downturns can be difficult for an advertising company like Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). Considering that 79% of Alphabet's revenue comes from advertising sources, these cuts create problems in Alphabet's financials. In the third quarter, the segment proved businesses are still willing to build their cloud computing infrastructure, even if budgets tighten. Read More...
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Why Nio Stock Crashed Today
Nio (NYSE: NIO) stock crashed Thursday morning, sinking 6.5% lower as of 11:25 a.m. ET. The Chinese electric vehicle (EV) manufacturer is upping up its battery swap game and even setting up a battery manufacturing business. Investors in Chinese stocks are already scurrying for cover after Chinese leader Xi Jinping secured a third term earlier this week, as they fear Xi’s ideologies, particularly his crackdowns on the private sector and zero-COVID policy, to continue.
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