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Troy-based ELMS makes Nasdaq debut, eyes fall launch of electric van

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Troy-based Electric Last Mile Solutions on Monday became the latest electric-vehicle startup to go public via a tie-up with a special-purpose acquisition company.
The company which is slated to launch a commercial electric van aimed at the growing market for last-mile deliveries began trading on the Nasdaq Monday morning under the ticker symbol ELMS. Its Urban Delivery van, with a starting price of about $25,000 with a federal rebate, is slated to be the first commercial electric van of its size to launch in the U.S., potentially giving ELMS a leg up on would-be competitors.
ELMS opened at $11.10 per share and closed up nearly 13.5%. ....

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After GameStop-like surge, Rocket stock frenzy shows signs of subsiding

After GameStop-like surge, Rocket stock frenzy shows signs of subsiding
The wind in the sails of Rocket Companies i.e., retail investors on Reddit that inflated the company s shares 71% Tuesday showed signs of diminishing a day later.
After closing at $41.60 per share the day before, shares in the Detroit-based mortgage holding company backed by billionaire Dan Gilbert slumped nearly 33% on the day to $28.01 at the market close Wednesday.
Despite a buzz mirroring the frenzied trading of GameStop Corp. s shares last month, the slowdown in Rocket shares tracks with the expectations of experts. In a few months, they say, retail investors will have moved on to another company s stock and Rocket, a profitable company amid low interest rates and strong home sales, will proceed with business as usual. ....

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