It shocked the entire EV industrywhen Rivian, the electric truck market's game-changer, whose IPO raised $11.9 billion in 2021.
On Nov 10, 2021, Rivian, an American electric car start-up, was listed on the Nasdaq exchange. After the opening, the stock price rose to $119.46, closing at $100.73 that day. Its market value reached $85.9 billion, becoming a new stock market miracle.
A bear market is when a market experiencing price declines. Widely followed indexes like the S&P 500, NASDAQ100 and Dow Jones Industrial Average are down 20% from their highs.
Bilibili (BILI), the most popular Chinese video platform, is under anxiety. Achieving profitability, the most fatal problem Bilibili is facing now, remains unsolved. The doubts of the secondary market about Bilibili are almost overwhelmed.
With the announcement of its Q3 financial results in 2021, the net loss of Bilibili reached 2.686 billion RMB, an increase of 144% year-on-year. Just three days after the release of its financial results, the stock price of Bilibili fell by more than 20%. For Bilibili, the lack of profit model is the real reason why investors starts to leave.
“In fact, Bilibili should have been profitable in 2020, so it would be too late if it cannot achieve profitability in 2022, indicating that its business model cannot be established.” A secondary market investor said.
There is not much time left for Bilibili to prove itself.
Early this month, Elon Musk said the Tesla humanoid robot, known as Tesla Bot or Optimus, may be up and running within months. Tesla’s stock price rebounds more than 9% on June 21, after weeks of losses since June 9.
According to Bloomberg, while hedge funds were busy bailing from stocks at a record pace, Corporate America was furiously repurchasing shares, as the S&P 500 plunged into a bear market.
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