Baidu, Inc. (BIDU), the Wall Street-listed Chinese search engine, was up +15.57% to $240.25. According to two Reuters reports, Baidu is considering the development of a new company for electric car construction. Its compatriot Geely will be tasked with the development of the cars, as in recent years, Geely surfaced as the best-selling Chinese car brand under the Volvo and Geely names. Baidu will bring in the new company with smart driving technologies to power passenger cars, and Geely will bring its experience in car design and manufacturing to the table.
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Alibaba Group Holding Limited (BABA) was up +4.09% to $236.19. Washington is considering banning Americans from investing in Alibaba or Tencent, the two most valued listed businesses in China. That is what was published this week in the Wall Street Journal. Furthermore, according to Bloomberg, Alibaba’s financial subsidiary Ant Group will restructure its consumer credit activities.
Tesla, Inc. (TSLA) carried on rising with Friday’s gain of +7.84% to end the session at $880.02. On Wall Street, Tesla shares are once again among the growth leaders, contributing 7.84 percent based on trade. Several supportive variables continue to increase the capitalization of the electric car maker, the core of which is the “green” directives of the agenda of the upcoming U.S president. Furthermore, Tesla announced plans to build charging facilities in many Asian countries on Friday. Tesla is crossing $800 billion in market capitalization, making Elon Musk the world’s richest man. Close to $825 billion is worth of the company now.
BioNTech SE (BNTX) surged by gaining +7.15% to close the Friday session at $100.39 while Pfizer Inc. (PFE) was stable at +0.19% to $37.13. A study shows that against variants detected in the UK and South Africa, their covid vaccine will be effective. A new deal with Pfizer/BioNTech for the supply of an additional 300 million doses (200 million and one option out of 100 million) was announced by the European Commission on Friday, raising its potential vaccine orders to 600 million for both partners.
