Bill.com Reported Great Earnings and Lordstown Motors Hired a New CEO
Bill.com is a technology company located near Palo Alto, California. They focus on cloud-based solutions, and they have a market capitalization of $20.458 billion, making them a decently sized company in the tech sector.
On Thursday, Bill.com reported their quarterly earnings. They saw a loss of 48 cents per share, or $41.9 million, and they announced revenue numbers of $78.3 million, which represented an 86% increase. Revenue numbers beat expectations, but earnings missed expectations, but their CEO said that their strategic initiatives in this quarter would set themselves up well in the future. After the market closed, Bill.com rose to $247.00, up 12.76%.
Lordstown Motors is an auto company that focuses on manufacturing and selling electric vehicles. They are based in Lordstown, Ohio, and they have a market cap of $1.149 billion, which was a fraction of their market cap when they entered the market through a SPAC.
On Thursday, Lordstown announced the hiring of their new CEO, Daniel Ninivaggi. Ninivaggi was the former CEO of Icahn Enterprises and specialized in the auto part of the conglomerate company, so he has great experience in the field. Time will tell if he is able to turn the company around as they’ve been struggling massively. Investors seemed to believe in him as Lordstown closed the day at $6.49, up 17.79%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.