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Netflix, a True Underdog Story

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VERSES Technologies (NEO: VERS) (OTCQX: VRSSF) is a next-generation AI company providing foundational technology for the contextual computing era or True Web 3.0.

Recently, VERSES successfully completed a first-of-a-kind Urban Air Mobility (UAM) test using autonomous drones on its AI operating system, COSM, in Zaragoza Spain.

Here are the details:

🎉 During the La Virgen del Pilar festival, VERSES deployed multiple autonomous drones to provide real-time aerial views to monitor the safety of thousands of visitors participating in the cultural event.

🧠 Using VERSES’ real-time mobility portal, powered by the company’s AI operating system, COSM, local authorities could monitor the entire celebration remotely.

🚀 CEO Gabriel Rene explained, “This is another example of our COSM operating system in action. From the spatial mapping of an entire city to the creation of flight plans and the governance of drones via geospatial contracts in real-time.”

Want more VERSES Technologies? Check out our recent newsletter on the Spatial Web by clicking the link.

A Quick Market Recap

When your portfolio is up 1% for the week…

Hell yeah, we actually finished a week in the green for once!

With new Q3 earnings reports being released left and right, some investors are waking up pleasantly surprised, while others shiver at the sight of another poor quarter.

Although it isn’t much, seeing a little green in the portfolio certainly eases the pain.

Here is how major indexes performed this week:

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Top News

Netflix Silences the Haters with a Strong Q3 Beat

Everyone loves a good underdog story.

Although Netflix isn’t your typical run-of-the-mill “little guy”, the streaming giant did overcome months of disgrace and slander by demonstrating an ability to grow while everything else shrivels.

Here are the results:

  • EPS: $3.10 (actual) vs. $2.13 (expected)
  • Revenue: $7.93 billion (actual) vs. $7.837 billion (expected)
  • New subscribers: 2.41 million (actual) vs. 1.09 million (expected)

🍿 The company said shows like “Stranger Things” season four, “The Gray Man” and “Purple Hearts” as hits that helped bolster growth in the quarter.

📽 “We’re still not growing as fast as we’d like,” said Spencer Neumann, Netflix’s CFO. “We are building momentum, we are pleased with our progress, but we know we still have a lot more work to do.”

🎞 It also teased the addition of its new lower-priced ad-supported plan, which launches in 12 countries in November.

📈 $NFLX is up 25.41% this week, trading at a P/E of 24.48 and a market cap of $128.25 billion.

Will Netflix ($NFLX) maintain its spot as a top streaming platform?

🚨 See what our IG community had to say!

Source: CNN

Justice is Served! Nikola Founder Trevor Milton charged with Fraud

Imagine duping investors out of over $34 billion just to find yourself locked up a few years later.

Well, that’s what just happened to the former CEO of Nikola Motors, Trevor Milton, who is being booked for tricking investors with gimmicky promos and deceptive charisma.

🚔 Milton is being charged with two counts of securities fraud and two counts of wire fraud relating to false statements he made to drive up the value of $NKLA stock.

⚖️ The former CEO will be sentenced on January 27, 2023, and could face up to 25 years in prison if convicted on all four counts.

🐍 US Attorney Damien Williams alleged that Milton lied about “nearly all aspects of the business [and] on the backs of those investors taken in by his lies, he became a billionaire virtually overnight.”

🎈 For a brief period, $NKLA surged over $90 per share in June 2020, after going public; as a business with no revenues, it was valued higher than Ford Motors during this time.

👋 He was forced out of the company in September 2020, after Nikola’s board of directors found that some of the fraud allegations had merit; the company also agreed to pay a $125 million fine last year over a civil charge.

🚨 Hey there! We just dropped an article on one of the best energy stocks in the market. Check it out here.

Roblox ($RBLX) Soars upon Solid September User Growth

Roblox is not your average child gaming company.

The sandbox-style metaverse continues to see impressive growth during a challenging economic environment.

The company saw impressive growth YoY throughout its business:

  • Daily active users (DAU) reached 57.8 million, up 23%
  • Hours engaged were 4 billion, up 16%
  • Estimated bookings were between $212 million and $219 million, up 11% to 15%

👼 To date, the company has focused on “creating a safe and civil platform” and growing its daily active user base.

🛍 But there are “many opportunities to increase monetization,” said Roblox CEO David Baszucki, citing that advertising and 3D immersive shopping are both potential areas for growth

🤑 The company saw bookings swell more than 200% during the pandemic, but has felt the effects of an economic slowdown as the market punished high-growth tech stocks valuations.

👾 After a blazing 2021, when the company neared an $80 billion market cap, it is now down 68.04% from its all-time highs.

💥 $RBLX is up 20.94% this week, trading at a market cap of $25.83 billion.


Source: Market Radar

This year has had the most -1%+ Fridays ever!

Ironic isn’t it, given that this is one of the few weeks where we can truly say, “TGIF!”

But yes, it ‘tis true, this has been one of the wildest years for the stock market in its long and storied history.

For context, here is how the stock market performed in the five years with the most -1%+ Fridays:

🟢 1972: +15.63%

🔴 2000: -10.14%

🔴 2002: -23.37%

🔴 2008: -38.49%

🔴 2022: -23.09%





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