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CNBC’s Jim Cramer said Wednesday that trading meme stocks is more gambling than investing.

“It’s exciting. It’s fun, and it’s real,” Cramer said on “Squawk Box.” However, he added, “If you’re going to play it, I think that you can, I don’t know, go to the casino. These should be offered at the casino.” He pondered, “Why are they offered at the New York Stock Exchange?” 

The “Mad Money” host’s comments came as shares of new Reddit target Clover Health soared again in Wednesday’s premarket, and popped nearly 30% at the open, extending the recent wild ride for the insurance company that offers Medicare Advantage plans. However, the enthusiasm waned in early trading, and Clover turned negative on the session. At the lows of the day, Clover stock still more than doubled since Friday’s $9 close.

The Reddit trading frenzy that began in January with GameStop as its most prominent target has returned to focus recently. AMC Entertainment, in particular, has been a favorite of Reddit traders. Other meme stocks that have seen varying levels of interest include Bed Bath & Beyond and BlackBerry — and a new one Wednesday, Clean Energy Fuels, which jumped about 20%.

Reddit traders have flocked to stocks that have larger-than-normal short positions, which creates the potential for a so-called short squeeze if shares are pushed higher. Short-selling is a bearish strategy in which investors can profit when a stock declines in price.

“They’re going for anything. … You have to try to figure out which one is next,” said Cramer, who has previously criticized short-sellers who were still betting against GameStop and AMC.

Interactive Brokers founder and Chairman Thomas Peterffy on Monday also warned shorts about the risks of being involved with meme stocks, saying they can soar to “unimaginable highs” before coming back to Earth. But he added that, in the meantime, traders might have to cover their bets at big losses.

While newcomers to the stock market are welcome, Cramer said he hopes young people focus on investing based on fundamentals. He pushed back against the notion that the best way to learn about the markets is by getting burned on trades.

“We’ve got young people coming into the market. We’ve got 10 million people and Reddit. They need to be educated. That’s the solution,” Cramer said. “I know that it’s old fashioned, but I think it would really help because I know some people feel a lot of money has to be lost. I like people to make money, as long as they understand that it’s not a game.”

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Electric school bus charging for everyone, and someone who wants to pay for it

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Electric school bus charging for everyone, and someone who wants to pay for it

On today’s highly educational episode of Quick Charge, we talk about some of the impacts that the EPA’s multi-billion dollar electric school bus programs are having on schools around the country and explore some innovative ways to help school districts pay for them.

Our guest today is Matt Curwood from Voltera Power, a company that specializes in electric vehicle charging as a service and helping fleets electrify by capitalizing their infrastructure investments. All this and more – enjoy!

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show!

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Tesla Robotaxi launch news hub and watch party

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Tesla Robotaxi launch news hub and watch party

Tesla is holding its ‘We, Robot’ event today, which is expected to be the launch of its new Robotaxi, a vehicle dedicated to self-driving.

Here, you will find our news hub for the event, which will contain all the most important information about the event and our watch party.

Before being called its ‘We, Robot’ event to “unveil the future of autonomy”, Tesla called today’s 10/10 event the “unveiling of its Robotaxi”.

The Tesla Robotaxi is a vehicle that CEO Elon Musk has been talking about for the past two years.

Since 2016, Musk claimed that all Tesla vehicles built from then on would be capable of full self-driving capabilities through future software updates enabling owners to use them as “robotaxis”.

That has yet to happen and Musk made some owners worried when he started talking about Tesla building a new vehicle dedicated to self-driving: the Robotaxi, which is also sometimes referred to as the Cybercab.

This unveiling event is not only going to be interesting as our first official look at Tesla’s new vehicle, but many Tesla owners and shareholders want to know how this new dedicated vehicle fits into Tesla’s self-driving effort.

The vehicle itself is expected to be a two-seater with butterfly wing doors, no pedals or steering wheel, and have a design inspired by the Cybertruck.

Considering the event is about autonomy, we expect Tesla to also give an update about Optimus, its humanoid robot, at the event.

There could also be a surprise unveiling of Tesla’s upcoming new vehicles, like the next-gen Roadster or two cheaper vehicles based on Model 3 and Model Y.

Tesla is holding the event on Warner Brothers’ studio lot in Los Angeles, which has non-public streets. Some have speculated that Tesla is holding the event there to do some self-driving demos without getting a self-driving permit, which the automaker has avoided getting in California for years.

The event is set to start at 7 PM local time or 10 PM ET, and it will be live-streamed here:

Here’s our Tesla Robotaxi unveiling news hub, where you can find our articles about the most important news that comes out of the event (refresh the page for more stories):

We are also hosting a very informal watch party with myself, Fred Lambert, and Jamie Dow. Some other Electrek staff members might join too.

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Rivian’s R1T is getting a new solar-powered tonneau cover ‘to go further’ and ‘do anything’

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Rivian's R1T is getting a new solar-powered tonneau cover 'to go further' and 'do anything'

Rivian’s (RIVN) electric pickup is getting unique new accessories. Worksport (WKSP) is releasing aftermarket accessories for the Rivian’s R1T, including its solar-powered SOLIS tonneau cover.

Known for its tonneau covers for trucks, Worksport is quickly expanding its lineup. The company announced plans to develop aftermarket accessories specifically for the Rivian R1T this week.

Worksport said its existing tonneau cover lineup, fitted for the Rivian R1T, is almost complete. The covers are designed to improve efficiency, protect the vehicle against outside elements, and provide a safe space to store stuff.

Building on its existing products, Worksport claims its SOLIS is “the world’s first folding solar tonneau cover.”

According to Worksport, the solar-powered truck bed cover can provide up to 650 watts of clean energy.

Combined with its COR battery system, Worksport’s SOLIS cover can harness solar energy and store it for later use. The bundle could be used to upgrade your next camping trip, work site, or anywhere off-grid.

Rivian-R1T-solar-powered-tonneau
Rivian R1T (Source: Rivian)

Rivian R1T to get a new solar-powered tonneau

Worksport claims that, with expected Level 2 charging capabilities, the solar cover will be able to act as a last-mile range extender.

Steven Rossi, Worksport’s CEO, said, “Rivian owners deserve an exceptional bed cover and power system to go further and truly do anything.”

Rivian-R1T-solar-powered-tonneau
Rivian R1T electric truck (Source: Rivian)

The company said its SOLIS solar-powered tonneau cover will be made at its West Seneca, NY, production facility, where it manufactures current accessories.

Rivian’s R1T is not the only electric truck set to get Worksport’s solar-powered tonneau cover. In February, Worksport announced it was developing a solar and battery storage system for Ford’s F-150 Lightning.

Rivian-production
Rivian EV production at its Normal, IL plant (Source: Rivian)

After delivering another 10,018 vehicles in Q3, Rivian’s deliveries reached 37,396 through the first nine months of 2024.

Rivian aims to deliver between 50,500 and 52,000 vehicles this year, slightly higher than the 50,122 handed over last year. The EV maker will launch its smaller, more profitable R2 in early 2026 as it expands into new markets.

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