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The critical moment for Extreme Auto: store closures, suppliers demanding debts, currently seeking support from Baidu | Frontline
① The management team led by CEO Xia Yiping is seeking support from the major shareholder Baidu, but insiders from Jiyue Autos revealed that the senior executives at Baidu are not answering calls. ② After the stores stopped operating, a large number of employees from Jiyue Autos started "laying flat" live broadcasts and looked for jobs online. ③ Suppliers came to Jiyue Autos to demand payment, but did not have the opportunity to meet with Xia Yiping.
The NASDAQ broke through 0.02 million points for the first time, Tesla led a group of tech giants to a new high, and Bitcoin climbed to 0.1 million dollars
The Dow and Apple fell, the Nasdaq rose nearly 2%, Tesla and Google rose nearly 6%, while Meta, Amazon, and Netflix all reached new highs. NVIDIA rose over 3%, Broadcom rose nearly 7%, Super Micro Computer once dropped over 8%, the decline of Chinese concepts narrowed, and Fangdd Network turned to rise over 11%. The U.S. November CPI confirms interest rate cut bets for next week, with a pause on rate cuts expected in January next year. The dollar and U.S. Treasury yields rebounded in a V-shape, while spot Gold reached its highest level in five weeks. The yen plunged below 152, while the offshore yuan once dropped over 300 points, falling below 7.29 yuan. After a significant interest rate cut by the Bank of Canada, the Canadian dollar and Canadian bond yields turned to rise, and oil prices increased by about 2%.
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