The On-Balance-Volume (OBV) line has been pointed down since September and tells me that sellers of SNAP have been more aggressive than buyers. The OBV line is pointed down and the MACD oscillator is a long way from the zero line. In this daily Point and Figure chart of SNAP, below, we can see that prices have reached a downside price target but that is no reason to purchase shares. Read More...
TechCrunch
Elon Musk’s Boring Company raises $675M to scale Loop projects
The Boring Company, Tesla CEO Elon Musk’s project to build underground highways to alleviate traffic congestion, has raised a $675 million Series C round, bringing its valuation up to $5.7 billion. The round was led by Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. The company says it will use the funds to significantly increase hiring across engineering, operations and production in order to build and scale Loop projects and accelerate the research and development of Prufrock, the company’s next generation tunnelling machine.
