Expion360 Inc. (XPON) +139.82% became one of the biggest gainers listed on major U.S. exchanges, after the maker of lithium batteries for recreational vehicles and the marine industry announced an exclusive supply agreement. Expion360 has been selected as the exclusive supplier of high-energy lithium ion batteries for an overland trailer to be branded and sold by a top U.S. sports utility vehicle manufacturer.
Greenwave Technology Solutions, Inc., +7.08%. The automatic conversion of all of the Company’s convertible debt has resulted in Greenwave Technology having its strongest balance sheet in its corporate history. Greenwave Technology through its subsidiary, Empire Services, Inc., operates metal recycling facilities in Virginia and North Carolina. The company, through its 11 metal recycling facilities, collects, classifies, and processes raw scrap ferrous and nonferrous metals for recycling iron, steel, aluminum, copper, lead, stainless steel, and zinc.
Shares of Kalera (KAL) -16.15% were plunging after shareholders of the specialist in alternative farming methods known as "vertical farming" approved a 100-for-1 reverse stock split yesterday. Vertical farming seeks to grow plants vertically rather than in horizontal rows in the ground. The reasoning behind it is that because land is scarce and expensive, and demand for food continues to increase, new methods of growing are needed. Vertical farming tends to rely on aquaponics, aeroponics, and hydroponics instead of soil.
Li Auto Inc. -8.13% a leader in China’s new energy vehicle market, today announced that Mr. Yanan Shen, president and director, has tendered his resignation as the president and a director of the Company in order to devote more time to his personal affairs.
WHAT ELSE HAPPENED?
Recession fears were further ignited after central banks in Europe also hinted at hiking interest rates through 2023. Both the Bank of England and the European Central Bank slowed down their pace of rate hikes but increased interest rates by 50 basis points. Investors were once again alarmed by this as they believe that the ongoing rate increases could push the economy into a recession.
Global financial markets were completely surprised as the Bank of Japan suddenly widened its target range for the 10-year Japanese government bond yields. This has sparked widespread selling of bonds and stocks across the global financial markets as the Japanese central bank’s move was perceived by market participants as potentially hawkish.
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