1) Robinhood day traders are suing over trading limits are finding themselves facing a high legal bar. Online brokerage firms halted trading on several companies whose stocks were being heavily trading short, because frenzied trading on the internet brokers caused their price to skyrocket, therefore earning millions of dollars in profits, but causing billions in losses to hedge funds that were shorting the stocks. These companies are GameStop, BlackBerry Ltd., Nokia Oyj and AMC Entertainment Holdings Inc. But legal experts say brokerages have broad powers to block or restrict transactions, which are spelled out as part of customer agreements that everyone signs to gain access to the services.

2) Eastman Chemical Company’s CEO Mark Costa announced the company plans to build one of the world’s largest plastic-to-plastic molecular recycling facilities. Eastman will build a $250 million dollar facility which will convert polyester waste into durable products. The facility will convert polyester waste, that often ends up in landfills and waterways, into durable products. More than 100,000 metric tons of plastic waste, that cannot be recycled by current mechanical methods, are used to make premium, high-quality specialty plastics made with the recycled content. This process reduces the company’s use of fossil (oil) feedstocks thereby reducing its greenhouse gas emissions by 20 to 30 percent. This facility is due to be completed by end of 2022. Eastman goal is to recycle 250 million pounds of plastic waste annually by 2025 and more than 500 million pounds of plastic waste annually by 2030 using molecular recycling technologies.

3) The long-awaited law that allows low-volume car makers to build cars with complete drivetrains in them is finally ready. The NHTSA has completed a regulation that permits low-volume motor vehicle manufacturers to begin selling replica cars that resemble vehicles produced at least 25 years ago. Previously, automakers producing low volumes were not allowed to manufacture their cars with an engine and power train, which instead had to be installed by third parties. These low volume automakers manufacture old-car replicas of models twenty five or more years old, such as the 1932 Ford Roadsters or DeLoreans, Allards or the J2X MkIII, a modern hand-crafted version of the famed British competition roadster. These replicas are still required to meet pollution standards of today’s automobiles. At this time, there are no engine packages available for use in replica cars, so manufacturers who wish to supply engines to the replica car builders will have to be certified just like other light duty manufacturers.

4) Stock market closings for – 2 FEB 21:

Dow 30,687.48 up by 475.57
Nasdaq 13,612.78 up by 209.38
S&P 500 3,826.31 up by 52.45

10 Year Yield: 1.10%

Oil: up at $55.02

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