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By WYATTE GRANTHAM-PHILIPS (AP Business Writer) NEW YORK (AP) — In a rare move on Wall Street, Chipotle Mexican Grill’s board has approved a 50-for-1 stock split. In an announcement Tuesday, the burrito chain lauded the proposed split as one of the biggest in New York Stock Exchange history — while noting it believed the move would also boost accessibility of the company’s stock. “This is the first stock split in Chipotle’s 30-year history, and we believe this will make our stock more accessible to employees as well as a…

Zheping Huang / Bloomberg: Tencent reports Q4 revenue up 7% YoY to ~$21.6B, vs. ~$21.8B est., a ~$3.8B net income, vs. ~$4.6B est., and plans a $12.8B+ stock buyback, as gaming sales slow — Tencent Holdings Ltd. plans to more than double its stock buyback program to at least $12.8 billion in 2024 … Zheping Huang / Bloomberg: Tencent reports Q4 revenue up 7% YoY to ~$21.6B, vs. ~$21.8B est., a ~$3.8B net income, vs. ~$4.6B est., and plans a $12.8B+ stock buyback, as gaming sales…

Shares of American EV startup Canoo (GOEV) are surging after its Oklahoma City facility received approval as a Foreign Trade Zone (FTZ). The approval will help improve Canoo improve profitability as it scales production. Canoo (GOEV) gets FTZ status for its OKC EV facility After throwing a lifeline to keep its shares listed on the NASDAQ with a reverse stock split earlier this month, Canoo’s (GOEV) stock is surging following the approval at its OKC EV facility. Canoo announced on Monday that…

The stocks of crypto companies like Coinbase (NASDAQ: COIN) are in goldilocks as Bitcoin price has exceeded $72,000. The pioneering digital asset is gaining strength above its previous all-time high of $69,000 after multiple failed attempts to break the key level last week. This has resulted in a strong demand for Coinbase stock, as it is the biggest cryptocurrency exchange in the United States. The company carried an IPO during 2021’s bull run, and its shares tanked very hard in the bear market as BTC hit…

Reddit’s initial public offering is getting closer, as evidenced by the company’s latest filing to the Securities and Exchange Commission (SEC), which has revealed new details about what is sure to be one of the most-watched IPOs of the year. The new filing includes the number of shares that will be made available and their expected price range, among other insights. Reddit had previously announced its stock ticker (RDDT) and underwriters in an earlier filing. According to the newest details, Reddit will offer 22 million…

Being a Reddit user has always had its perks, but now the most loyal Redditors will get VIP passes to own part of the company. Reddit disclosed plans to launch its long-awaited IPO at up to a $6.4 billion valuation, according to a Monday filing with the SEC, and the company is reserving 8% of its shares for longtime members of the online platform.Robinhood App Lays Off 9% of Staff“Our users have a deep sense of ownership over the communities they create on Reddit,” said the company in the filing. “We want this sense of…

  After forming record highs in the last session, AMD stock price opened lower on Thursday. This correction occurs when the benchmark indices have given a gap-up opening. The S&P 500 index is up 37 points, while the tech-heavy Nasdaq 100 index has gained 163 points at press time. The broader market sentiment around the semiconductor stocks remains positive as almost all the top stocks in the sector except for AMD are trading in the green on Thursday morning. The correction in AMD shares can be attributed…

This story originally appeared on Jalopnik.When asked how Boeing’s recent door plug incident came about, company CEO Dave Calhoun cryptically explained “a quality escape occurred.” That kind of corporate doublespeak is indicative of the problem at hand. Boeing used to have quality, but it escaped, apparently sometime around when it merged with McDonnell Douglas in 1997. An AI That Helps You Get a Job? | AI UnlockedFor the last three decades, the company has spent substantial amounts of money buying back its own shares to…

EV maker Rivian’s (RIVN) stock is trending Thursday ahead of the highly anticipated launch of its new R2 electric SUV. Rivian stock scored a buy rating from Jefferies Finacial Group, suggesting over 45% upside potential. Rivian stock scores buy rating ahead of R2 reveal Rivian will reveal its more affordable R2 electric SUV at 10 am PT (1 pm ET) later today at its swanky new Laguna showroom. The event will be live-streamed, and you can check back here for the full details. Leading up to its…

The PlayStation Portal remains extremely difficult to get hold of in the UK, as stock shortages continue to plague the device. If you've been struggling to pick up a PlayStation Portal and have started to consider other options, then the makers of Backbone One have come up with an offer that's almost too good to turn down. If you're looking for a device to transform your iPhone into a cloud gaming handheld capable of running PS5, PS4, Xbox and PC games, then the Backbone One is currently available for the discounted price…