Business
business
Max Knoblauch

Lucid, still without a permanent CEO, is up 45% since bottoming out in March

Lucid shares surged more than 10% on Tuesday afternoon, marking further progress in the luxury electric vehicle maker’s recovery from March lows.

The company, which has gotten vast amounts of funding from Saudi Arabia’s Public Investment Fund — the sovereign wealth fund holds roughly 60% of Lucid shares — has been led by an interim CEO since Peter Rawlinson stepped down near the end of February.

Since those lows, which came a couple of weeks after Rawlinson stepped down, the stock has surged 45%.

A handful of factors could be making investors optimistic:

  • Lucid’s pricey vehicles don’t qualify for the EV tax credit (outside of leasing loopholes), so the company shouldn’t face a significant sales hit from that credit’s likely end later this year — and could even see a boost in the lead-up to its removal.

  • Production of the Gravity SUV continues to ramp up, boosting delivery numbers. Lucid has increased deliveries for five straight quarters, including a 58% jump in Q1 from the same period last year.

  • The company plans to expand to more markets in Europe and the Middle East this year.

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5/15/26
Spotify wants us all to join its 20th anniversary celebrations

Looking at its finances, no wonder the streamer’s in a festive mood.

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Smartphones are 12% cheaper than last year, according to the latest inflation data... except they’re not

Phones are one of a few important categories that get quality, or “hedonic,” adjustments in the Consumer Price Index — which make their price go down in the official statistics.

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business
Max Knoblauch

Texas sues Netflix, accusing streamer of spying on children and collecting user data without consent

The state of Texas filed a lawsuit Monday against streaming giant Netflix, alleging that the company has built a “behavioral-surveillance program of staggering scale.”

The suit alleges that Netflix is “deceptively designed” to be addictive, using features like autoplay to get viewers hooked, “mining those users for data, and then converting that data into lucrative intelligence for global advertising juggernauts.”

“When you watch Netflix, Netflix watches you,” the lawsuit reads.

“This lawsuit lacks merit and is based on inaccurate and distorted information,” Netflix said in a statement to Sherwood News. “Netflix takes our members’ privacy seriously and complies with privacy and data‑protection laws everywhere we operate.”

Texas is seeking civil penalties of “up to $10,000 per violation” of the Texas Deceptive Trade Practices-Consumer Protection Act, along with an additional penalty of up to $250,000 per violation involving a consumer aged 65 or older.

“Netflix is not the ad-free and kid-friendly platform it claims to be. Instead, it has misled consumers while exploiting their private data to make billions,” said Texas Attor­ney Gen­er­al Ken Pax­ton in the press release announcing the lawsuit.

Netflix did not immediately respond to a request for comment.

Attorney General Ken Paxton Sues Netflix for Spying on Texas Kids and Consumers by Illegally Collecting Users’ Data Without Their Knowledge or Consent

Attorney General Ken Paxton Sues Netflix for Spying on Texas Kids and Consumers by Illegally Collecting Users’ Data Without Their Knowledge or Consent

“This lawsuit lacks merit and is based on inaccurate and distorted information,” Netflix said in a statement to Sherwood News. “Netflix takes our members’ privacy seriously and complies with privacy and data‑protection laws everywhere we operate.”

Texas is seeking civil penalties of “up to $10,000 per violation” of the Texas Deceptive Trade Practices-Consumer Protection Act, along with an additional penalty of up to $250,000 per violation involving a consumer aged 65 or older.

“Netflix is not the ad-free and kid-friendly platform it claims to be. Instead, it has misled consumers while exploiting their private data to make billions,” said Texas Attor­ney Gen­er­al Ken Pax­ton in the press release announcing the lawsuit.

Netflix did not immediately respond to a request for comment.

Hyunsoo Rim
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5/11/26
Dunkin’ is going public again — this time with an entire restaurant empire in tow

The doughnut chain’s parent company filed for an IPO last week.

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Max Knoblauch
5/8/26
Higher prices, lower sales: Video game giants forecast the impact of the memory crunch

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