Ole_CNX/iStock via Getty Images By William J. Luther Supply shocks alone cannot explain higher prices. Excessive spending is to blame — and policymakers have failed to connect the dots. The conflict in the Middle East has pushed prices higher this year. But the latest data from the Bureau of Economic Analysis suggests the worst of the price hikes may be in the rearview mirror. The Personal Consump...
Ole_CNX/iStock via Getty Images By William J. Luther Supply shocks alone cannot explain higher prices. Excessive spending is to blame — and policymakers have failed to connect the dots. The conflict in the Middle East has pushed prices higher this year. But the latest data from the Bureau of Economic Analysis suggests the worst of the price hikes may be in the rearview mirror. The Personal Consumption Expenditures Price Index ( PCEPI ), which is the Federal Reserve’s preferred measure of inflation, grew at an annualized rate of 4.9 percent in April 2026, down from 8.3 percent in the prior month. The PCEPI grew at an annualized rate of 4.8 percent over the last six months and 3.8 percent over the last year. Figure 1. Headline and Core Personal Consumption Expenditures Price Index Inflation, April 2021 – April 2026 Core inflation, which excludes food and energy prices and is thought to be a better gauge of the underlying rate of inflation, also declined. Core PCEPI grew at an annualized rate of 2.9 percent in April 2026, down from 3.6 in the prior month. It grew at an annualized rate of 3.8 percent over the last six months and 3.3 percent over the last year. Although inflation has declined on a month-over-month basis, the year-over-year rate has ticked up. Headline PCEPI inflation climbed from 3.5 percent to 3.8 percent, whereas core PCEPI inflation increased from 3.2 percent to 3.3 percent. What — if anything — the Fed should do about the higher inflation depends in large part on why inflation is above target. The pass-through from energy prices to everything else certainly explains a portion of the difference between inflation and the Fed’s two-percent target, and the Fed should not respond to that portion. When constrained supplies — of energy, or anything else — push prices higher, those higher prices help individuals make appropriate decisions about whether and how much of the more-scarce item to buy. Unless the Fed has a secret stash of oil, natural gas, or fert...
Key Points CFO Ajay Gopal sold 35,023 shares in open-market transactions on May 21, 2026, at a weighted-average price of around $9.25 per share, totaling ~$324,000. This transaction reduced Gopal's direct common stock holdings by 2.97% to 1,145,278 shares post-sale. All shares disposed were held directly. 10 stocks we like better than RealReal › Ajay Madan Gopal, Chief Financial Officer of The Rea...
Key Points CFO Ajay Gopal sold 35,023 shares in open-market transactions on May 21, 2026, at a weighted-average price of around $9.25 per share, totaling ~$324,000. This transaction reduced Gopal's direct common stock holdings by 2.97% to 1,145,278 shares post-sale. All shares disposed were held directly. 10 stocks we like better than RealReal › Ajay Madan Gopal, Chief Financial Officer of The RealReal (NASDAQ:REAL), reported the direct sale of 35,023 shares of common stock on May 21, 2026, for a total value of approximately $324,000 according to the SEC Form 4 filing. Transaction summary Metric Value Shares sold (direct) 35,023 Transaction value $323,963 Post-transaction shares (direct) 1,145,278 Post-transaction value (direct ownership) ~$10.59 million Transaction and post-transaction values based on the SEC Form 4 weighted average price ($9.25). Key questions What proportion of Gopal's stake was sold in this transaction? The 35,023 shares sold represent 2.97% of Gopal’s direct holdings prior to the transaction, with total direct ownership moving from approximately 1.18 million to 1.15 million shares. The 35,023 shares sold represent 2.97% of Gopal’s direct holdings prior to the transaction, with total direct ownership moving from approximately 1.18 million to 1.15 million shares. Did the transaction involve indirect ownership or derivatives? No, all shares sold were held directly, with no indirect entities or derivative securities involved. No, all shares sold were held directly, with no indirect entities or derivative securities involved. How does the transaction size compare to Gopal's previous selling activity? This sale is below Gopal’s historical mean sell size of ~49,855 shares per transaction. This sale is below Gopal’s historical mean sell size of ~49,855 shares per transaction. What is the relevant market context for this sale? The transaction occurred at a time when The RealReal's stock was priced at $9.27 at the May 21, 2026 close, up 68.19% from one y...
The US has more than sufficient stockpiles of weapons and is “more than capable” of resuming the war with Iran, Pete Hegseth told a defence summit hours after a meeting in Washington failed to produce a deal to end the conflict. “Our ability to recommence if necessary is we are more than capable,” the US defence secretary told the Shangri-La Dialogue, a defence summit held in Singapore on Saturday...
The US has more than sufficient stockpiles of weapons and is “more than capable” of resuming the war with Iran, Pete Hegseth told a defence summit hours after a meeting in Washington failed to produce a deal to end the conflict. “Our ability to recommence if necessary is we are more than capable,” the US defence secretary told the Shangri-La Dialogue, a defence summit held in Singapore on Saturday. “Our stockpiles are more than suited for that, both there and around the globe because of how we balance exquisite and more plentiful munitions.” Hegseth’s remarks came as a peace deal between the US and Iran to end the war remained elusive. Donald Trump on Friday claimed he could approve an Iran peace deal that contains major concessions from Tehran, including the opening of the strait of Hormuz and the elimination of the country’s nuclear programme. But top Iranian officials signalled a final agreement had not been reached. Two weeks after Trump’s meeting with Chinese leader Xi Jinping in Beijing, Hegseth also said there was “rightful alarm” about Beijing’s military buildup, but the US sought a “respectful” regional balance. His headline speech at the defence summit, which brings together top defence officials and experts from about 45 countries, contrasted with his strongly confrontational remarks on China at last year’s event. Unlike Beijing, which has sent a panel of military experts and scholars instead of defence minister Dong Jun for the second year running, Hegseth is leading a bumper US delegation to the event that provides chances for both open debate and behind-closed-doors diplomacy. “When we look across the region today, there is rightful alarm regarding China’s historic military buildup and the expansion of its military activities in the region and beyond,” Hegseth said. Washington does not seek “needless confrontation in the region,” he said, but rather “a genuinely stable equilibrium [in Asia] that works for Americans as well as our allies”. That means “a...
There is a version of the artificial intelligence (AI) story in which every company with the word "artificial intelligence" in its pitch deck gets a pass and an instant flood of investment. Revenue misses get attributed to "transition periods." Widening losses get called "strategic investment." And analysts who should know better slap a hold rating on a deteriorating business and call it balanced....
There is a version of the artificial intelligence (AI) story in which every company with the word "artificial intelligence" in its pitch deck gets a pass and an instant flood of investment. Revenue misses get attributed to "transition periods." Widening losses get called "strategic investment." And analysts who should know better slap a hold rating on a deteriorating business and call it balanced. That is what is happening with C3.ai (AI +5.38%) right now, in my opinion. And I think the consensus is wrong in a way that matters to every investor still holding the stock. Expand NYSE : AI C3.ai Today's Change ( 5.38 %) $ 0.55 Current Price $ 10.77 Key Data Points Market Cap $1.5B Day's Range $ 10.26 - $ 11.13 52wk Range $ 7.67 - $ 30.11 Volume 11M Avg Vol 5M Gross Margin 43.45 % What the consensus actually says As of today, 12 analysts cover C3.ai with a consensus rating of hold and an average price target around $17. On a stock trading near $9.50, that implies nearly 80% upside. At the same time, other analysts are going the other direction. Those two data points sitting side by side tell you everything. The consensus is so internally inconsistent that it says nothing useful. A hold with a $17 average target on a stock down nearly 60% in one year is a construct built to avoid taking a position, dressed up to look like research. After debuting at $42 per share in late 2020 and briefly rocketing to above $160 during the market's initial frenzy, the company has spent years unraveling back toward reality, with shares now collapsing, it seems. The real story is simpler and more uncomfortable: C3.ai is getting outflanked, from every direction, by companies with far more resources and far deeper relationships with the enterprise customers C3.ai needs to grow. The pincer that C3.ai cannot escape C3.ai built its reputation on a specific promise: pre-built, enterprise-grade AI applications that companies could deploy without building from scratch. For a period, that was a real ...
Key Points C3.ai's early AI lead is fading as software giants bundle cheaper enterprise AI tools. Some of Wall Street's hold consensus looks conflicted while revenue declines and losses accelerate. Microsoft, Salesforce, and ServiceNow already control enterprise relationships C3.ai desperately needs to win. 10 stocks we like better than C3.ai › There is a version of the artificial intelligence (AI...
Key Points C3.ai's early AI lead is fading as software giants bundle cheaper enterprise AI tools. Some of Wall Street's hold consensus looks conflicted while revenue declines and losses accelerate. Microsoft, Salesforce, and ServiceNow already control enterprise relationships C3.ai desperately needs to win. 10 stocks we like better than C3.ai › There is a version of the artificial intelligence (AI) story in which every company with the word "artificial intelligence" in its pitch deck gets a pass and an instant flood of investment. Revenue misses get attributed to "transition periods." Widening losses get called "strategic investment." And analysts who should know better slap a hold rating on a deteriorating business and call it balanced. That is what is happening with C3.ai (NYSE: AI) right now, in my opinion. And I think the consensus is wrong in a way that matters to every investor still holding the stock. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » What the consensus actually says As of today, 12 analysts cover C3.ai with a consensus rating of hold and an average price target around $17. On a stock trading near $9.50, that implies nearly 80% upside. At the same time, other analysts are going the other direction. Those two data points sitting side by side tell you everything. The consensus is so internally inconsistent that it says nothing useful. A hold with a $17 average target on a stock down nearly 60% in one year is a construct built to avoid taking a position, dressed up to look like research. After debuting at $42 per share in late 2020 and briefly rocketing to above $160 during the market's initial frenzy, the company has spent years unraveling back toward reality, with shares now collapsing, it seems. The real story is simpler and more uncomfortable: C3.ai is getting outflanked, fro...
Hong Kong-registered yachts can berth more easily in designated mainland Chinese ports in the Greater Bay Area, as Beijing has waived customs guarantees and simplified administrative procedures. In a directive published on Saturday night, the State Council revamped its maritime policies, allowing Hong Kong and Macau leisure yachts to enter designated mainland ports “exempt from customs guarantees”...
Hong Kong-registered yachts can berth more easily in designated mainland Chinese ports in the Greater Bay Area, as Beijing has waived customs guarantees and simplified administrative procedures. In a directive published on Saturday night, the State Council revamped its maritime policies, allowing Hong Kong and Macau leisure yachts to enter designated mainland ports “exempt from customs guarantees” and benefiting from “a temporary vessel nationality registration policy” with immediate effect. This applies to yachts temporarily entering and leaving through designated ports in nine mainland cities – Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing – provided the yachts remain within the jurisdiction of those cities. Advertisement More to follow …
Getty Images Investment thesis Otis Worldwide ( OTIS ) is a high-quality business with recurring revenue, as most of the company's operating profit comes from maintenance and modernization services rather than new elevator installations. After several difficult years, sales in China appear to be stabilizing, while modernization demand continues to benefit from the aging infrastructure worldwide. T...
Getty Images Investment thesis Otis Worldwide ( OTIS ) is a high-quality business with recurring revenue, as most of the company's operating profit comes from maintenance and modernization services rather than new elevator installations. After several difficult years, sales in China appear to be stabilizing, while modernization demand continues to benefit from the aging infrastructure worldwide. That said, I think the recent selloff has only brought the stock back from expensive to fairly valued, and the company still needs to prove that recent problems are temporary, because the current valuation doesn't leave enough room for more disappointments, which is why I believe a Hold rating is the most prudent rating here. More about services than elevators Otis sells elevators, and most investors would probably think that the main business consists of installing elevators in new buildings and see it as another cyclical business, but in reality, this part of the business represented only 32% of total sales in Q1 2026 . And that's a good thing, because this segment experienced a 5% organic decrease in sales in this first quarter, mainly due to pressure from Asia, which we will discuss later. Anyhow, this isn't the part of the business that actually interests me because, despite being 32% of sales, it only represented 6% of the company's operating profit. Otis investor presentation So, where does the operating profit actually come from? Well, from maintenance and modernization services, which accounted for the other 68% of sales but 94% of operating profit. This quarter, this business segment grew 5% organically despite the impact from Asia. Once an elevator is installed, customers usually ask the same manufacturer for safety inspections, repairs, and upgrades. That's why that recurring and predictable part of the business is where Otis has gotten its growth. And I don't mean to say that New Equipment doesn't matter; in the end, without new elevators installed, there would ...
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Growing commentary from early SpaceX investor Peter Diamandis and other industry observers is fueling talk of a potential merger between Tesla and SpaceX. Speculation centers on a future scenario where a SpaceX IPO could be followed by consolidation of the two...
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Growing commentary from early SpaceX investor Peter Diamandis and other industry observers is fueling talk of a potential merger between Tesla and SpaceX. Speculation centers on a future scenario where a SpaceX IPO could be followed by consolidation of the two companies, with Elon Musk seeking tighter control through super voting rights. Discussion is expanding beyond rumor to include how combined infrastructure and AI capabilities could reshape governance, risk and operational priorities for Tesla shareholders. Tesla, listed as NasdaqGS:TSLA, is currently trading at $435.79, with the stock up 16.9% over the past 30 days and 25.8% over the past year. Over 3 and 5 years, returns of 103.7% and 118.2% highlight how much investor expectations already bake in around the company, which makes any talk of structural change especially important for existing holders. For you as a Tesla investor, the emerging merger discussion is less about predicting a specific outcome and more about understanding how future governance and control could affect risk and decision making. The rest of this article explains what is being discussed around a potential Tesla and SpaceX tie up, outlines why some observers view it as a possibility, and sets out questions you may want to keep in mind as this story develops. Stay updated on the most important news stories for Tesla by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Tesla. NasdaqGS:TSLA Earnings & Revenue Growth as at May 2026 1 thing going right for Tesla that this headline doesn't cover. The merger speculation matters for Tesla because it links several threads investors have been watching separately: capital intensity, AI ambitions, and Elon Musk’s control. Early SpaceX investor Peter Diamandis frames a post IPO merger as a timing questi...
Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Palantir Technologies (NasdaqGS:PLTR) released a public AI manifesto that stresses national service, American power, and AI driven deterrence. The Vatican issued a new encyclical on artificial intelligence that urges global efforts to disarm AI and reduce it...
Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Palantir Technologies (NasdaqGS:PLTR) released a public AI manifesto that stresses national service, American power, and AI driven deterrence. The Vatican issued a new encyclical on artificial intelligence that urges global efforts to disarm AI and reduce its military role. The two documents have sparked a highly visible clash over AI ethics, governance, and the role of companies in security policy. Palantir focuses on data analytics and AI platforms used by government, defense, and commercial customers. As a result, its positioning on AI ethics and geopolitics sits close to its core line of business. The public disagreement with the Vatican’s encyclical places Palantir’s philosophy on AI use in security and national power under a brighter spotlight, at a time when regulation and public expectations around AI are still taking shape. For investors tracking NasdaqGS:PLTR, the clash does not directly alter contracts or reported financials, but it does add a new layer to how the company’s role in AI is perceived. How policymakers, partners, and customers respond to this ethical and political positioning could influence future conversations about AI standards, oversight, and acceptable use cases for Palantir’s platforms. Stay updated on the most important news stories for Palantir Technologies by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Palantir Technologies. NasdaqGS:PLTR Earnings & Revenue Growth as at May 2026 We've flagged 0 risks for Palantir Technologies. See which could impact your investment. This clash over AI ethics is not a commercial partnership or acquisition event for Palantir, but it does land squarely on the company’s positioning with security-focused customers. By framing AI as a tool of deterrence and national power, Palantir is effectively sign...
Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Palantir Technologies (NasdaqGS:PLTR) released a public AI manifesto that stresses national service, American power, and AI driven deterrence. The Vatican issued a new encyclical on artificial intelligence that urges global efforts to disarm AI and reduce it...
Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Palantir Technologies (NasdaqGS:PLTR) released a public AI manifesto that stresses national service, American power, and AI driven deterrence. The Vatican issued a new encyclical on artificial intelligence that urges global efforts to disarm AI and reduce its military role. The two documents have sparked a highly visible clash over AI ethics, governance, and the role of companies in security policy. Palantir focuses on data analytics and AI platforms used by government, defense, and commercial customers. As a result, its positioning on AI ethics and geopolitics sits close to its core line of business. The public disagreement with the Vatican’s encyclical places Palantir’s philosophy on AI use in security and national power under a brighter spotlight, at a time when regulation and public expectations around AI are still taking shape. For investors tracking NasdaqGS:PLTR, the clash does not directly alter contracts or reported financials, but it does add a new layer to how the company’s role in AI is perceived. How policymakers, partners, and customers respond to this ethical and political positioning could influence future conversations about AI standards, oversight, and acceptable use cases for Palantir’s platforms. Stay updated on the most important news stories for Palantir Technologies by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Palantir Technologies. NasdaqGS:PLTR Earnings & Revenue Growth as at May 2026 We've flagged 0 risks for Palantir Technologies. See which could impact your investment. This clash over AI ethics is not a commercial partnership or acquisition event for Palantir, but it does land squarely on the company’s positioning with security-focused customers. By framing AI as a tool of deterrence and national power, Palantir is effectively sign...
(RTTNews) - Lupin Limited announced that it has received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application (ANDA) for Sodium Sulfate, Magnesium Sulfate, and Potassium Chloride Tablets, 1.479 g/0.225 g/0.188 g. The approved product is bioequivalent to the reference listed drug (RLD), Sutab Tablets of Azurity Pharmaceuticals, Inc. Lupin is the excl...
(RTTNews) - Lupin Limited announced that it has received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application (ANDA) for Sodium Sulfate, Magnesium Sulfate, and Potassium Chloride Tablets, 1.479 g/0.225 g/0.188 g. The approved product is bioequivalent to the reference listed drug (RLD), Sutab Tablets of Azurity Pharmaceuticals, Inc. Lupin is the exclusive first-to-file applicant for this product and is eligible for 180-day generic drug exclusivity. Manufacturing will take place at Lupin's Nagpur facility in India. Sodium Sulfate, Magnesium Sulfate, and Potassium Chloride Tablets are indicated for cleansing the colon as preparation for colonoscopy in adults. Sutab® had estimated annual U.S. sales of USD 132.8 million as of March 2026, according to IQVIA. For More Such Health News, visit rttnews.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Ajay Madan Gopal, Chief Financial Officer of The RealReal (REAL 1.73%), reported the direct sale of 35,023 shares of common stock on May 21, 2026, for a total value of approximately $324,000 according to the SEC Form 4 filing. Transaction summary Metric Value Shares sold (direct) 35,023 Transaction value $323,963 Post-transaction shares (direct) 1,145,278 Post-transaction value (direct ownership) ...
Ajay Madan Gopal, Chief Financial Officer of The RealReal (REAL 1.73%), reported the direct sale of 35,023 shares of common stock on May 21, 2026, for a total value of approximately $324,000 according to the SEC Form 4 filing. Transaction summary Metric Value Shares sold (direct) 35,023 Transaction value $323,963 Post-transaction shares (direct) 1,145,278 Post-transaction value (direct ownership) ~$10.59 million Transaction and post-transaction values based on the SEC Form 4 weighted average price ($9.25). Key questions What proportion of Gopal's stake was sold in this transaction? The 35,023 shares sold represent 2.97% of Gopal’s direct holdings prior to the transaction, with total direct ownership moving from approximately 1.18 million to 1.15 million shares. The 35,023 shares sold represent 2.97% of Gopal’s direct holdings prior to the transaction, with total direct ownership moving from approximately 1.18 million to 1.15 million shares. Did the transaction involve indirect ownership or derivatives? No, all shares sold were held directly, with no indirect entities or derivative securities involved. No, all shares sold were held directly, with no indirect entities or derivative securities involved. How does the transaction size compare to Gopal's previous selling activity? This sale is below Gopal’s historical mean sell size of ~49,855 shares per transaction. This sale is below Gopal’s historical mean sell size of ~49,855 shares per transaction. What is the relevant market context for this sale? The transaction occurred at a time when The RealReal's stock was priced at $9.27 at the May 21, 2026 close, up 68.19% from one year earlier, with Gopal’s remaining direct stake valued at approximately $10.62 million post-sale. Company overview Metric Value Revenue (TTM) $722.53 million Net income (TTM) ($65.26 million) Employees 3,011 1-year price change 68.19% * 1-year price change calculated using May 21st, 2026 as the reference date. Company snapshot The RealReal offers...
The success of Wang Fuk Court residents’ attempt to seek compensation for losses arising from Hong Kong’s deadliest fire in decades will hinge significantly on the findings of the independent committee investigating the disaster as claimants must prove negligence was involved, experts have said. The experts’ comments came after some residents of the Tai Po estate said that recently released docume...
The success of Wang Fuk Court residents’ attempt to seek compensation for losses arising from Hong Kong’s deadliest fire in decades will hinge significantly on the findings of the independent committee investigating the disaster as claimants must prove negligence was involved, experts have said. The experts’ comments came after some residents of the Tai Po estate said that recently released documents on the government’s buy-back plan were ambiguous about their rights to pursue insurance claims and other damages after selling their flats. A Housing Bureau spokesman told the South China Morning Post that the government would not ask owners to forfeit their rights to civil claims upon selling their flats. Advertisement “Property owners who accept the government’s buyout scheme are not required to waive their right to future civil claims,” he said. “Owners can decide whether to pursue civil lawsuits later based on the facts and actual circumstances.” Advertisement Wang Fuk Court was undergoing a HK$336 million (US$42.9 million) renovation project when the fire broke out on November 26 last year and raged for about 43 hours, killing 168 people and displacing about 5,000 others.
A research team from northwestern China has released a new algorithm that could fundamentally change how drone swarms hunt and destroy enemy targets. The algorithm, known as HG-STR (Heterogeneous Graph Spatio-Temporal Reasoning), promises to allow a fleet of fixed-wing drones to autonomously search a vast battlefield and eliminate every single enemy, even when their communications are being jammed...
A research team from northwestern China has released a new algorithm that could fundamentally change how drone swarms hunt and destroy enemy targets. The algorithm, known as HG-STR (Heterogeneous Graph Spatio-Temporal Reasoning), promises to allow a fleet of fixed-wing drones to autonomously search a vast battlefield and eliminate every single enemy, even when their communications are being jammed and their vision is blocked. It is the first known algorithm capable of achieving a 100 per cent kill rate while operating fast enough to keep up with the pace of modern warfare , according to a peer-reviewed paper published in China’s top aviation journal Acta Aeronautica et Astronautica Sinica on May 19. Advertisement Most drone operations today are still controlled remotely by human pilots, according to a Beijing-based defence expert who was not involved in the study. “This technology suggests a future where swarms of drones could be sent into a high-risk, jammed environment , cut off from human command with a single final order: find and kill them all,” he said, requesting anonymity because he is not authorised to speak to media. Advertisement Traditional algorithms treat all information such as friend, foe and terrain as the same type of data.
For passionate enthusiasts, Ferraris are not merely cars but works of art. The emotion stirred by their classic red curves is, they say, akin to standing before a Michelangelo sculpture, while the sound of the engine revving evokes a sensation comparable to listening to the music of Giuseppe Verdi or Giacomo Puccini. Which is why the sight of the Italian carmaker’s first fully electric car, the Lu...
For passionate enthusiasts, Ferraris are not merely cars but works of art. The emotion stirred by their classic red curves is, they say, akin to standing before a Michelangelo sculpture, while the sound of the engine revving evokes a sensation comparable to listening to the music of Giuseppe Verdi or Giacomo Puccini. Which is why the sight of the Italian carmaker’s first fully electric car, the Luce EV, unveiled this week, left many fans aghast. “I don’t dispute the fact that it’s electric – that’s a generational step that needs to be taken,” said Fabio Barone, the president of the Italy-based Passione Rossa Ferrari owners’ club. “But the design was a total shock – it has shaken the very foundations of our legendary Ferrari.” Barone, who bought his first Ferrari at 27 and has since notched up several world records for speed, is far from alone in his reaction. Across the manufacturer’s devoted fanbase, the five-seater blue Luce, which in Italian means light, drew widespread scepticism. Internet commenters said it resembled a Nissan or even the Fiat Multipla, a 1990s people carrier crowned the world’s ugliest car. The more disparaging memes compared it to a vacuum cleaner or a rubber clog. Matteo Salvini, Italy’s deputy prime minister and transport minister, wondered what the carmaker’s founder, Enzo Ferrari, would make of it, while the former Ferrari CEO Luca Cordero di Montezemolo went one further by suggesting the Luce ought to be stripped of its prancing horse logo. “I agree with him – the horse needs to be removed,” said Barone, adding that his main gripe was its lack of sound. “How can you have a Ferrari without any vroom?” View image in fullscreen The Luce was unveiled on 25 May. Photograph: Ferrari/Reuters Efficient electric car motors are whisper-quiet compared with the roar of Ferrari’s usual V12 petrol engines. So Ferrari has felt compelled to add some sound back in. The company claims that sound is authentic because it is picked up by sensors beside the ax...
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This is the forum for daily political discussion on Seeking Alpha. A new version is published every market day. Please don't leave political comments on other articles or posts on the site. The comments below are not regulated with the same rigor as the rest of the site, and this is an 'enter at your own risk' area as discussion can get very heated. If you can't stand the heat... you know what they say... More on Today's Markets: Moderation Guidelines: We remove comments under the following categories: Personal attacks on another user account Anti-Vaxxer or covid related misinformation Stereotyping, prejudiced or racist language about individuals or the topic under discussion. Inciting violence messages, encouraging hate groups and political violence. Regardless of which side of the political divide you find yourself, please be courteous and don't direct abuse at other users. For any issue with regards to comments please email us at : moderation@seekingalpha.com. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.