concorde, plane, supersonic fighter-203813.jpg

Today in the Market (3/25/2024)

Good Morning! On Monday, the intense rise on Wall Street in 2024 had a little pause as it shifted into the concluding week of the first quarter of the year. The S&P 500 fell by 0.31%, while the Dow Jones decreased by 0.41%. The Nasdaq fell the least by 0.27%.

THINGS AREN'T LOOKING WELL

The EV start-up company Fisker (FSR) had trading shares halted. Also, Fisker issued a cautionary statement in its March results report, indicating a potential insufficiency of cash to make it through the year.

But it doesn’t stop there… Afterward, the New York Stock Exchange (NYSE) declared its intention to remove Fisker’s shares from the market as a result of its “abnormally low” price levels. What does this mean, though? The delisting would necessitate the company’s commitment to promptly pay off other outstanding debt due in 2025 as well as repurchase bonds that are currently due for maturity in 2026, according to a document the company submitted to the SEC.

Is there any hope? According to a regulatory filing issued by Fisker, Fisker had previously said that it was engaged in negotiations with a prominent and well-established carmaker. However, these negotiations have failed to reach an agreement. The company’s difficulties serve as more evidence of the challenges and obstacles faced by the rapidly growing EV market.

HERE COMES THE BOOM

concorde, plane, supersonic fighter-203813.jpg

Boom Supersonic has reported that their XB-1 prototype aircraft has completed a test run in the Mojave Desert. The prototype would eventually pave the way for Overture, a full-scale aircraft that would become the first commercial supersonic aircraft since the Concorde in 2003. Boom has entered into agreements or pre-orders for a total of 130 aircraft with companies like United Airlines (UAL) and American Airlines (AAL).

However, it is still in the air for it to become the norm. Blake Scholl, the founder and CEO, has said that the firm has successfully secured $700 million but may need a further $8 billion to finalize Overture. On top of that, the use of fuel in supersonic flights surpasses that of regular flights, hence giving rise to sustainability problems

There is still one more problem… the BOOM. Regulations exist to prohibit the occurrence of sonic booms over terrestrial areas, so limiting the advantages of increased speed to flights originating from the U.S. and destinations such as Tokyo. However, technological progress has the potential to transform loud sonic booms into less disruptive sonic thumps, which could enable the rapid transportation of passengers via continental flights.

Scroll to Top

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?