Investing News / Industry

Elon be gone: Musk drops Twitter

  • Declan O’Flaherty

    Declan holds a Bachelor of Commerce from the University of Alberta and has over 4 years of experience investing in financial markets. As a fundamental investor, Declan embraces the investment principles of Warren Buffett and his disciples. This puts a focus on finding businesses with healthy financials, competent and accountable leader, enduring competitive advantages, and those that are selling at discount to what they are worth.

    View all posts

Sugar Daddies in 2022 be like…

Purses are pinched, wallets are walloped, and inflation remains as potent as ever.

With the new US inflation data exceeding expectations at 9.1%, central banks are scrambling to get ahead of this pricing power mess.

While institutions like the Bank of Canada introduced an unprecedented 100 basis point hike, it may come as a surprise that markets responded q: economies will have difficulty

Overall, very little has changed, but one thing is clear, economies will have difficulty operating if accelerating costs and expensive debt persist.

Here is how major indexes performed this week:


If you enjoy our newsletter, please share this with a friend and subscribe so that we may deliver more value to our investment community!

Share

Subscribe now


Newsletter Sponsor

Plantable (NEO: PLBL) is the first clinically supported lifestyle program that combines delicious plant-based nutrition and behavioral psychology to reset metabolic health.

Here are three exciting moves Plantable made recently:

💰 The CEO purchased hundreds of thousands of shares recently in Q2; Click the link to dig deeper: https://ceo.ca/insiders/nadja-pinnavaia

📈 The company boasts a TTM Revenue of $1.2 million with a market cap of only $1.9 million.

⭐️ Plantable recently finalized its senior management team with the hiring of James Wachtel as Chief Growth Officer, who will be responsible for driving the company’s institutional partnership growth across all B2B2C channels.

For more information on Plantable (NEO: PLBL), please check out their recent article featured in the Financial Post:

https://financialpost.com/business-trends/a-proven-solution-towards-a-healthy-and-sustainable-lifestyle-with-plantable-health

*This is sponsored advertising content*


TOP NEWS

Amazon beats Prime Day record with +300 million items sold

The allure of wonderful deals tempts even the best of us.

With the retail giant’s annual sale wrapping up, inflation is creating a new kind of savvy shopper; or at least that’s our excuse for dropping hundreds on unnecessary purchases.

🎁 Prime members worldwide bought over 100,000 items per minute.

✈️ Total online retail sales in the US surpassed $11.9 billion during the event, up 8.5% from last year.

📺 Consumers purchased necessities over indulgences with the top-selling categories being consumer electronics, home goods, diapers, and Amazon-branded devices.

📦 Amazon (AMZN) posted a negative free cash flow of $18.5 billion in 2021 and the stock is down 31.89% YTD.

Do you think that Amazon is poised for a comeback in 2023?


Elon drops $44bn Twitter deal, but they chirp back

It has been a whirlwind of events surrounding the Elon-Twitter acquisition and TWTR shareholders are not pleased with the outcome.

After failing to meet Musk’s demands, the tech tycoon flopped, but did he overplay his hand?

🤖 Musk’s lawyer claims, “Twitter has not complied with its contractual obligations,” when they failed to consult with Musk before laying off a large portion of its workforce, or prove that less than 5% of Twitter accounts are bots.

🐥 Twitter then countered claiming, “Musk believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.”

☕️ If they win, the social media firm will force Musk to complete the $44 billion merger at the agreed price of $54.20 per TWTR share.

💪 Twitter CEO Parag Agrawal had this to say, “We will prove our position in court and we believe we will prevail.

📉 Twitter (TWTR) stock is down 12.68% YTD and is trading at $37.42 per share.

Who do you think will win? TWTR or Musk?


Here is what our IG community had to say 👈🔥

 


Crypto Fund, 3AC’s Founders are On the Run

The crypto world is undergoing one of the greatest collapses in the history of financial markets with a new firm going bankrupt every day.

And while this process is very painful for anyone with skin in the game, the blockchain purge is valuable for the market in the long run as we cleanse the dirt from society; 3AC is no exception.

🗺 After filing for bankruptcy on July 1, the once $10 billion hedge fund is now dodging the law before liquidation.

🎆 Lawyers say that the physical whereabouts of Zhu Su and Kyle Davies, who started Three Arrows Capital in 2012, are “currently unknown;” in more recent news, Zhu Su was spotted at a nightclub in Singapore.

👻 The fund’s liquidators attempted to meet with the team in June, but “the offices appeared vacant except for a number of inactive computer screens.”

🚔 Expecting that the founders stole fund assets, the “risk is heightened because a substantial portion of the Debtor’s assets is comprised of cash and digital assets […] that are readily transferable.”

💥 The effects of this default are severe as it led to the bankruptcy of the crypto brokerage Voyager Digital, and lenders Genesis & BlockFi are struggling due to significant losses as well.

How likely is it that 3ACs founders are caught this year?


DID YOU KNOW?

 

The Euro reached parity with the US dollar

After 20 years of purchasing power prosperity, the Euro fell to parity with the US dollar meaning that 1 USD = 1 Euro

Primarily due to record inflation and painfully high energy prices caused by the Russian-Ukraine war, the Eurozone is on the brink of a recession and this is a tell-tale sign.

For context, here are five major world events that happened the last time the Euro hit parity (2002):

🏚 Kmart Corp becomes the largest retailer in American history to file for Chapter 11 bankruptcy protection.

👑 Queen Elizabeth, the Queen’s Mother of the UK passes away.

⚽️ Brazil Wins the 2002 World Cup in the Korean Republic and Japan

🎓 The No Child Left Behind Act is passed and President George W. Bush signs it into law.

🐍 Andrew Fastow former chief financial officer for Enron Corp is indicted on 78 counts of wire fraud, money laundering, conspiracy, and obstruction of justice.

Are you planning a trip to Europe any time soon?

 

 

 

Disclosure/Disclaimer:
We are not brokers, investment, or financial advisers; you should not rely on the information herein as investment advice. If you are seeking personalized investment advice, please contact a qualified and registered broker, investment adviser, or financial adviser. You should not make any investment decisions based on our communications. Our stock profiles are intended to highlight certain companies for YOUR further investigation; they are NOT recommendations. The securities issued by the companies we profile should be considered high risk and, if you do invest, you may lose your entire investment. Please do your own research before investing, including reading the companies’ public filings, press releases, and risk disclosures. The company provided information in this profile, extracted from public filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it. The commentary and opinions in this article are our own, so please do your own research.
Copyright © 2023 Edge Investments, All rights reserved.

  • Declan O’Flaherty

    Declan holds a Bachelor of Commerce from the University of Alberta and has over 4 years of experience investing in financial markets. As a fundamental investor, Declan embraces the investment principles of Warren Buffett and his disciples. This puts a focus on finding businesses with healthy financials, competent and accountable leader, enduring competitive advantages, and those that are selling at discount to what they are worth.

    View all posts

Leave a Comment

Get 30+ hours of analyst research directly in your inbox weekly. Sign-up today to stay on top of the market.