Maadwo TANITOLUWA,
Hehe! You’re probably confused like Tomi wants to carry you “handicap” (“Maadwo” means good evening in Twi, a Ghanaian language & “carry you handicap” means play games with you – it’s a Nigerian slang)
I hope you had an insanely lovely week. Even though you didn’t ask, mine was definitely a good.
So sorry I didn’t write to you last week, I had factors waaaaay beyond my control. I promise this is the last time it’ll happen – not the kind of promises we hear during election campaigns.
Now, if you missed the last newsletter, catch up here.
Without further ado, let’s get-down-to business.
Tesla’s 3-for-1 Split!!!!
Elon be like
Remember when I told you Tesla was planning a 3-for-1 stock split? Yes, it happened – on Thursday. Good news for investors? Well! Existing investors don’t directly gain one way or another but perhaps because of this stock split and the company’s current stock price now trading at a third of the previous market price, the hope is that retail investors will be interested in investing in the company and perhaps the increased activity will increase stock value but that’s neither here nor there.
However, existing Tesla investors now own thrice the shares (they previously had) in the company and retail investors can now buy a piece of Tesla for a third of the previous price.
Tesla shareholders be like
Tesla’s shares closed about 2% lower on Thursday after the stock split was announced. But hey! Not to worry, when the last stock split was announced in 2020, the share price rose by over 70% about three weeks after the announcement. Not the exact same market terrain these days but it won’t be entirely surprising if we see a similar trend play out on this one as well. Although Tesla stocks are down by 16% this year, this stock split may just be the magic investors & stakeholders need.
If you have been longing to buy the Tesla stock, need I say more? Do your research & see if it’s a good time to become Elon’s buddy.
Now, to some hearsay in the tech industry…
Shhhh… Listen! Did y’all hear the Coinbase Bankruptcy Rumors?
If you have your ears to the ground as I do, then this is probably not an absolute shock to you. You must have heard the rumours that Coinbase, one of the pioneer cryptocurrency exchanges in the world, is on the verge of bankruptcy…
So where did these rumours come from?
Well, it all started when the company released its quarterly earnings and shareholder letter.
But here’s the little twist – that wasn’t what got people talking.
What made the rumours begin was when the company temporarily shut its affiliate program in a bid to cut costs.
But with such crypto market crash hitting new dips, who could blame Brian Armstrong (CEO)? 
#ToughTimes
Just in the second quarter of the year. The company had a 60% drop in revenue and lost about $1.1 billion, all thanks to the falling crypto prices and bearish crypto market.
Raw footage of a bear market 
However, if anyone should be experienced in the cyclicality of the market, it should totally be the management of the company. Since 2012, the company has been through not one or two, but FOUR bear market cycles. Brian said the company has laid off 18% of its staff and will continue to cut costs just in case the bear market lasts for a year or more.
That sent shivers down my spine, whew
What’s Happening to Bed Bath and Beyond?
Bed Bath & Beyond’s stock rose 365% in July, but most of these gains were lost in two days. Cough Cough #WallStreetBet 
#MemeStockRemake
After learning that GameStop’s chairman and Activist Investor, Ryan Cohen, had actually sold all of his shares in the company, investors literally took to their heels.
Like…
Before this happened, Bed Bath & Beyond said that Ryan Cohen had acquired more than 9.4 million shares of the firm through RC Ventures, including more than 1.6 million in call options with strike prices between $60 and $80. This sort of suggested he was committed to the task at hand: transforming the company.
But guess what? He entirely changed his position three days later! 
Man sold/dumped his position at record highs of $18.68 – $29.22 per share.
Investors:
Investors who had invested in Bed Bath & Beyond in the expectation that Ryan Cohen would help the company turn things around were more than devastated by the announcement. But this is where it gets interesting …
The volatility prompted some investors to ask that Ryan Cohen’s action be investigated on basis of market manipulation.
The company is hanging on for dear life & looking to restore investor confidence. Step 1: They plan to hold a conference call to give a strategic update to investors and other company stakeholders of the business. The company is also in the process of acquiring a $375 million loan to help the business tackle the sales slum and cash burns. Light at the end of the tunnel? The stocks surprisingly jumped by almost 6% during extended hours of trading. So you see, investors are beginning to restore their faith in the company.
Nigeria’s Inflation Rate Spiked to a 17-year High of 19.64%
This particular one makes me sad, so sad that I feel like giving everyone in Nigeria a group hug. Brace up guys, we gon’ need it.
According to the National Bureau of Statistics, Nigeria’s annual headline inflation rate rose to 19.64% in July, the highest level since 2005, which was announced in the recently issued Consumer Price Index (CPI) report for the month of July 2022.
Apparently, the last time Nigeria’s inflation was above 19.64% was in September 2005 when it rose to 24.32%. According to the report, prices for staples like food, fuel, transportation, and clothing increased at the highest rates. I mean food prices have risen steadily in Nigeria for years, due to the effects of climate change, the COVID-19 pandemic, and widespread insecurity. However, in February, when Russia invaded Ukraine, commodity prices soared, affecting the ability of millions of citizens to meet their basic needs. 
To hedge against this spiking inflation rate that isn’t showing any signs of reducing, here are my 2 cents:
- Try to invest any disposable income you have.
- If you have needs, you might want to skip delayed gratification and purchase them immediately because the next time you check the price tag, it might have tripled.
Sad stuff right, I know!
…but I’m hopeful that Nigeria will rise again. 
It’s a wrap!
What are you waiting for?!?!
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Tomi’s raw footage tomorrow morning:
Your dearest and favourite Stocks Market Gist Partner,
Tomi, From Trove 
