By Ben Glickman
Kaixin Auto said its sales fell 43% in the first half of 2023, to $18.9 million, which the company said was caused by lower sales of used cars. The Chinese electric-vehicle maker and used-car platform posted a narrower loss of $4.5 million, compared with a loss of $70.6 million in the first half of 2022. Shares sink 13%, to $3.05, after-hours.
Astra Space disclosed in a regulatory filing Friday that it was considered in default on its senior secured note because it didn’t meet the minimum cash-on-hand requirement. Under the terms with investors, the company must have at least $15 million in cash or equivalents. Shares fall 6.3%, to 86 cents, after-hours.
Energy Fuels posted a surprise profit of 7 cents a share, when analysts polled by FactSet were expecting a per-share loss of 3 cents. A large sale of uranium to a U.S. nuclear utility accounted for a portion of the earnings. Shares rise 2%, to $8.10, after-hours.
Write to Ben Glickman at [email protected]
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