Week 08/24/2020 - 08/30/2020

Monday Aug.24th, 2020

• TikTok sues the US government over Trump’s ban, saying it didn’t get a fair shot to prove it’s not a national security threat.
• Luminar is going public in a $3.4B merger. Luminar makes lidar tech that allows self-driving cars to measure the distances between the cars and their surroundings.
• Palantir’s IPO paperwork was leaked.

Tuesday Aug.25th, 2020

• American Airlines says it will lay off or involuntarily furlough 19,000 employees as of October 1 unless the airline industry gets more help from Congress.
• Best Buy’s online sales more than triple compared to the same quarter last year and its profit nearly doubled to $432.
• Over half of US states are approved to send an extra $300/week unemployment benefit from Uncle Sam.

Wednesday Aug.26th, 2020

• The S&P 500 and the Nasdaq rose to all-time highs again — the indexes have hit fresh records for four straight trading days.