Davido’s #TartyBillion, God When?

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What’s up, spice of life?

How do you do? It’s been a whole week since we last spoke. 🥺 Missed me or kinda sorta?

I’m sure you’ve been waiting for my email and wallaaaa, here we are!

I bring you great tidings of fun from the markets so without further ado, let’s get it!


Figma Partners with WordPress to Improve Design Collaboration – WP Tavern

Must have been a great week in Figma land this week! Earlier in the week, Adobe Inc. inked the deal to purchase software design firm, Figma Inc., for a whopping $20 billion with the aim of adding more creative tools for professionals to its suite.

Figma founders so emotional at the thought of everything… 

Jon Stewart Crying GIF

To add more icing on this stupendous cake, the deal is a 50-50 cash and stock deal is one of the biggest takeovers a private software company has ever made. Also, this major acquisition for Adobe, and it is not atypical for the stock of the acquiring company to go down temporarily… I knew you’d ask why so (You’re welcome)…

Typically in a Merger & Acquisition, the acquiring company’s share price (in this case, Adobe’s) drops because it often pays a premium for the target company (Figma), or incurs debt to finance the acquisition. The target company’s (Figma’s) short-term share price tends to rise because the shareholders probably only agreed to the deal if the purchase price exceeds their company’s current value.

Nevertheless, Adobe faced a 15% dip in stock price in a single day, following the announcement… the worst they’ve had since 2010 but they stand by it!

Cupping you some social media hot-takes:

Additionally, for over 10 years, Adobe shares were a stock market favourite, but a falling tide also sinks all ships… the company stocks dipped by over 45% this year alone – Oh the stock market this year. On the other hand, Figma was valued at $10 million in 2021 & just about a year later, they sell for $ 20 billion.

Forget Davido’s #TartyBillion, God When?

On a side note, many UI/UX designers did not hesitate to share their grievances against the ‘marriage’ on social media, saying they mostly prefer Figma because it offers collaborative design tools and allows them to try things out before making a purchase.

I mean… that’s all fine and dandy but when the opportunity comes to maximize value for shareholders, it’s literally a fiduciary duty for the founders… and not to mention,

For $20 billion or more, I’ll sell my company too… 🤑

Or. Am I? 🌚


FedEx sets earlier start date for peak delivery surcharges - FreightWaves

This week, the shipping giant, FedEx, announced that the company has seen a huge decrease in shipping not just in the American market, but also in their global market as a whole.

Not too surprising. I mean, have you seen the prices of things?

Everybody right now

Back to the gist…

FedEx’s stock crashed about ~20% – the biggest daily crash the stock has had. The last time FedEx had a similar magnitude of the stock decline in a single day was in 1987 when it recorded a 16.4% decline.

Errrhhh, Sheessshhh …So what really happened, you might ask?

Well, the company announced that they have to close about 90 offices, freeze hiring processes, cancel some projects and even pack their aircrafts due to the reduction in shipping volumes.

Excuse my french. I’m just in shock.

Anyhoo, later in the month, the company plans to shed more light on how they intend to deal with this. You can trust me to give you all the tea when that happens!

…one last gist before we wrap up for the day


Nigeria's inflation rate hits 12.56% – NBS — Nigeria — The Guardian Nigeria  News – Nigeria and World News

Report is reaching us that Nigeria’s inflation rate now inches above 20%😱😰

No! I don’t want to talk about inflation every other week, Nigeria! Get it together UGHHH!

According to the Consumer Price Index report by the Nigerian Bureau of Statistics (NBS), the inflation rate rose to 20.52%, increasing from the previous 19.64% value recorded in July.

So… get this:

April’s Inflation Rate: 16.82%

July’s Inflation Rate: 19.64%

August’s Inflation Rate: 20.52% | August’s Food Inflation Rate: 23.12%

These are the highest figures we’ve seen in 17 years!

Mehn! This spiking inflation rate hits home dearly… and it’ll force more Nigerians to drastically downsize and reduce all unnecessary excesses.

Urging you to invest any spare income you’ve got in one way or the other. Don’t let your hard-earned money keep losing value drastically.

Get started on the Trove app “inflation-proof” your money. (Not sure that is an actual word, but you get the drill)

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…And there it is!

It’s a wrap!

What are you waiting for?!?!

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Your dearest and favorite Stocks Market Gist Partner,

Tomi, From Trove 🖤

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