Hey Gotraders,
News websites have been blowing up with Twitter (TWTR) - related news ever since Elon Musk acquired a 9.2% stake in the company. Let’s take a look at the latest developments.
In regards to his SEC filing:
🧐 Musk refiles Twitter disclosure to show he’s an active investor.
🧐 Musk spent $2.64 billion on Twitter shares so far this year, new filing shows.
🧐 Musk may add to U.S. SEC ire with late report about Twitter stake.
In regards to changes that may come about at Twitter:
🤷 Cathie Wood sees potential for Twitter shakeup after Musk takes stake.
🤷 Musk to join Twitter’s Board of Directors, teases ‘significant improvements.’
🤷 Musk’s Twitter board seat raises questions about his plans for the company.
🤷 Twitter announces it's been developing an edit feature.
🤷 Here’s how much power Elon Musk actually has at Twitter now — and what he might do with it.
🤷 Musk joining the Twitter board will make the platform a public square of opinion, says Dean Crutchfield.
🤷 Elon Musk’s Twitter investment could be bad news for free speech.
Why is this important? Elon Musk is the world’s richest man. His net assets total $276 billion, according to the Bloomberg Billionaires Index. He is worth more than 2x what Warren Buffett is worth. Unbelievable, right?!
I guess when you have that much money, you can do just about anything you want with it - including buying a massive stake in your favourite social media company!
Shares of Twitter closed at $50.98, up 2.02% for the day.
📈 JetBlue wants to buy Spirit Airlines for $3.6 billion in cash. Cha-ching! 💰
So… It looks like JetBlue wants to buy Spirit Airlines (SAVE) for 3.6 billion bucks in an all-cash deal! Frontier Airlines had already made an offer for Spirit Airlines in cash-and-stock, but JetBlue stepped in with their offer which was 33% higher! Naughty, naughty!
"The combination of the two airlines would position JetBlue as the most compelling national low-fare challenger to the four large dominant US carriers by accelerating JetBlue's growth" - JetBlue.
Looks like Spirit Airlines has a decision to make! They said that they "will pursue the course of action it determines to be in the best interests of Spirit and its stockholders."
Shares of Spirit Airlines closed at $26.91, up 22.37% for the day.
📈 HSBC launched a Metaverse portfolio for its affluent Asian clients 🥽
Yo yo yo! Last week we wrote about Alibaba (BABA) getting into the Metaverse space by leading a $60 million investment round into Nreal, the augmented reality glasses maker. Next up, HSBC (HSBC) has announced that they too want a piece of the Metaverse action.
Last month, HSBC said that it was buying a plot of virtual real estate in an online gaming space! They have now launched a Metaverse fund called Metaverse Discretionary Strategy portfolio for their crazy rich Asian clients in Hong Kong & Singapore. This fund will focus on investing within the Metaverse ecosystem across five segments - infrastructure, computing, virtualisation, experience and discovery, and interface.
"The metaverse ecosystem, while still at its early stage, is rapidly evolving,… We see many exciting opportunities in this space as companies of different backgrounds and sizes are flocking into the ecosystem" - Lina Lim, Regional Head of Discretionary & Funds for Investments and Wealth Solutions, Asia Pacific @ HSBC.
Shares of HSBC closed at $34.35, up 12.81% year-to-date.
Top movers & shakers 🎢
What else is making headline news 📰
Rivian (RIVN) picks up EV production in Q1, on track to hit annual target.
Teens are worried about the U.S. economy, but they’re still spending on Nike (NKE) and Lululemon (LULU).
General Motors (GM) and Honda to develop affordable electric vehicles that cost less than $30,000.
Amazon (AMZN) announces huge rocket deal to launch its satellite internet constellation.
Apple (AAPL) just announced its big annual conference starts June 6, new iPhone software expected.
Intel (INTC) becomes latest Western tech firm to suspend business in Russia.
Exxon Mobil (XON) flags huge profit jump as lawmakers target dividends.
AMD (AMD) to buy Pensando for $1.9 billion to build out its data center business.
Top SPAC issuer Citigroup (C) will reportedly halt blank-check IPOs after the SEC signals tougher stance.
Deutsche Bank (DB) is the first big bank to forecast a US recession.
After months of delay, General Motors restarts Chevy Bolt EV production.
Meta (FB) adds the ability to share video from third-party apps directly to Facebook Reels.
Affirm (AFRM) is giving job offers to the ‘vast majority’ of Fast engineers.
Popular companies releasing earnings this week 💰
Wednesday: Exelon (EXC), Levi Strauss (LEVI), Tilray (TLRY)
Thursday: Constellation Brands (STZ), Conagra (CAG), Lamb Weston (LW)
A company’s market value may fluctuate considerably around the time that the earnings report is expected to be published. Stock prices may rise or fall according to analysts' speculative estimates, released prior to the actual earnings announcement.
The earnings season can be a time of great opportunity since better-than-expected figures could cause a company’s stock to greatly increase in value. Worse-than-expected results could have the opposite effect.
That’s all from us for now.
Signing out,
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The legal stuff 🤓
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