Money

Lendway's Stock Soars After Increasing Authorized Shares

Lendway Inc. (LDWY) witnessed a substantial increase in its stock value during after-hours trading, climbing by almost 20%. This notable surge comes after the company officially declared an expansion in its authorized common stock. This strategic move, which has been formally recorded, is expected to enhance the company's financial maneuverability and potentially open doors for future growth initiatives.

The financial institution submitted a Certificate of Amendment to the Delaware Secretary of State. This amendment legally raises the company's authorized common stock from 5.71 million to an expanded total of 10 million shares. The common stock maintains a par value of $0.01 per share, and the change was enacted immediately upon filing.

This decision to increase the authorized share count received overwhelming approval from shareholders. Approximately 1.17 million votes were cast in favor of the proposal, with 223,490 against, and 5,241 abstentions. The company's Board of Directors had previously passed resolutions authorizing this increase on September 26, indicating a well-considered and coordinated effort to adjust the company's capital structure.

In other corporate news, during the company's Annual Meeting held on the same day as the board's resolution, six individuals were elected to serve as directors. These directors will hold their positions for a one-year term, or until their successors are duly chosen. Elizabeth E. McShane, the Chief Financial Officer, officially signed the relevant filing on Thursday.

Despite this recent positive movement, Lendway's stock has faced challenges throughout the year, recording a 26.92% decline year-to-date. Its annual trading range spans from $3.37 to $6.19, with a current market capitalization of $6.05 million. According to Benzinga's Edge Stock Rankings, LDWY has shown a negative price trend across various timeframes, suggesting that while this recent jump is significant, it's occurring within a broader context of downward pressure.

The expansion of authorized shares by Lendway Inc. signals a proactive step towards bolstering its financial framework and operational capacity. This development, while causing an immediate positive reaction in the market, will be observed keenly for its long-term impact on the company's stock performance and overall market standing.

Tesla Expands Rental Program Across US Cities with Unlimited Miles and Free Supercharging

Tesla is significantly expanding its vehicle rental program across various major U.S. cities, offering an attractive package that includes unlimited mileage, free Supercharging, and access to its advanced Full Self-Driving (FSD) technology. This initiative aims to make Tesla vehicles more accessible, with daily rental rates beginning at $60, and also provides a discount for those who choose to purchase a Tesla within seven days of their rental.

This expansion comes after the successful pilot program launched in San Diego, which is set to run until December 31, 2025. The company is actively recruiting “Rental Readiness Specialists” for new locations in cities such as Boston, Austin, Fort Worth, Phoenix, Houston, and Nashville, signaling a broad rollout strategy. This move was highlighted by influencer Sawyer Merritt on social media platform X, who cited internal job postings.

Under the expanded program, customers can rent a Tesla Model 3 or Model Y for $60 per day, while the Cybertruck will be available for $75 daily. For those seeking a more premium experience, the Model S and Model X will be offered at $90 per day. To participate, renters must be at least 21 years old and possess a valid driver's license, ensuring responsible usage of these high-tech vehicles.

The vision for this rental service aligns with CEO Elon Musk's long-term goal of enabling Tesla owners to rent out their vehicles when not in use, creating a car-sharing ecosystem similar to a hybrid of Uber and Airbnb. This concept, tied to the FSD business model, could revolutionize personal transportation and vehicle utilization, transforming Teslas into income-generating assets for their owners.

In related news, Ross Gerber, co-founder of Gerber Kawasaki, recently lauded the improvements in Tesla's FSD v14, noting a substantial upgrade from its predecessor. His positive assessment underscores the continuous advancements in Tesla's autonomous driving capabilities, which are a key component of the rental program's appeal and Musk's broader mobility strategy.

The strategic broadening of Tesla’s rental program to include a wider array of cities and enhanced features such as unlimited mileage and FSD access demonstrates the company's commitment to innovation in mobility. By making their advanced electric vehicles more readily available for short-term use, Tesla is not only tapping into the growing rental market but also potentially fostering wider adoption of its technology and brand, laying the groundwork for a future where vehicle ownership and sharing models coexist seamlessly.

See More

Ramsey Co-Hosts Challenge Inheritance Claims from Non-Family Members

A recent episode of 'The Ramsey Show' featured an intriguing financial conundrum, as hosts George Kamel and Jade Warshaw addressed a caller's query about inheritance obligations. The caller, Kevin, recounted how his father's girlfriend's daughter was asserting a claim to his father's estate, despite the absence of a will or any legal marital ties between his father and the girlfriend. This situation brought to light the complexities and potential disputes that can arise when end-of-life financial planning is not clearly defined.

Kamel and Warshaw strongly advised Kevin against yielding to these demands. They underscored the principle that moral, legal, and ethical responsibilities for inheritance do not extend to individuals without a formal legal connection, such as marriage or a written will. They highlighted that any concession might open the door to further financial demands, reinforcing the importance of clear legal structures in managing estates. Warshaw further pointed out that Kevin had already demonstrated significant generosity by accommodating the girlfriend and her family in his grandmother's home post-bereavement, suggesting that no further obligation was due.

The discussion then broadened to encompass other callers facing diverse financial struggles, illustrating the broader scope of financial advice offered on the show. These cases included a business owner overwhelmed by debt after a company collapse and a family grappling with substantial credit card debt due to unchecked spending on children's activities. In both scenarios, the hosts emphasized pragmatic steps towards financial recovery, focusing on prioritizing essential expenses, seeking immediate employment, and fostering joint financial planning among spouses. These examples reinforced the show's core message: diligent financial management and clear communication are crucial for navigating life's economic challenges.

In an increasingly complex world, proactively managing personal finances and clearly articulating intentions, particularly regarding estates, is paramount. Such foresight not only safeguards assets but also prevents emotional and legal disputes among family and acquaintances, ensuring peace of mind for all involved.

See More