CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, the CNBC.com After Hours team explains why short-form video company Quibi shut down after only six months. And we speak with Piper Sandler analyst Nicole Miller Regan on how Wingstop became one of the hottest restaurant stocks of 2020.
Here's what else is going on:
Quibi's founder and CEO explain what went wrong
Quibi founder Jeffrey Katzenberg and CEO Meg Whitman told CNBC on Thursday that a convergence of factors led to the failure of the short-form entertainment service for mobile phones.
The company announced Wednesday that it would shut down just over six months after it launched.
"We had a new product. We asked people to pay for it before they actually understood what it was. I think we thought there would be easier adoption by people to it," Katzenberg said in an interview with Julia Boorstin. Katzenberg also pointed toward the Covid-19 pandemic affecting people's travel.
Joe Biden is ready for Trump's debate attacks on his family, his campaign says
WASHINGTON – Democratic presidential nominee Joe Biden is ready for President Donald Trump to unleash a torrent of attacks on Biden's family Thursday night at the final presidential debate, Biden campaign aides said.
"We expect that Trump will attack Vice President Biden and his family," said deputy campaign manager Kate Bedingfield on a pre-debate conference call. "Every time he does that, all he's doing is reinforcing what we have said all along: He is acknowledging that he has no case for a second term."
Down in the polls with 12 days to go, Trump has seized on recently released emails allegedly taken off a laptop belonging to Biden's son Hunter. The emails have not been independently verified.
Tesla isn't stuck in a 'zero-sum game' like other carmakers, Jefferies analyst says
Tesla doesn't have to play the "zero-sum game" faced by traditional automakers that are struggling to catch up in the electric vehicle space, an analyst at Jefferies told CNBC Thursday.
Billionaire Elon Musk's car company on Wednesday posted its fifth straight quarter of profits, helped in part by sales of environmental regulatory credits to other carmakers. The company also beat on all the key metrics that analysts were looking for including cash flow and gross margins.
However, concerns have been raised over its eye-watering valuation. The company's stock price has skyrocketed over 400% year-to-date and its market cap now stands at $393.8 billion, higher than some of the world's leading automakers including Toyota and Volkswagen.
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