Elon Musk Go Explain Tire 😂😈!

Hey there,

What’s up? How’s life been treating you lately? Wow! It feels so great to write to you again.

You know, you’ve been reading my story every week, and I’d really love to hear yours too! Have you registered to share your trove story? Hope you know you could stand a chance to get an exquisite lunch with us. (T&C Applied)

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Okay, back to the gist for today 🤗 …. Mmmmh! Hope you’re ready.

NGX Still Blowing Hot!

I tell y’all NGX is really blowing hot this year. Because!!! how do you explain being the number one exchange in Africa, despite the rise in insecurity, inflation, and unstable foreign exchange, among other domestic macroeconomic challenges and global uncertainty?

Mehn!! Nigeria’s stock market is really like a ray of sunshine, shining brighter and brighter in 2024. 😂😂😂

So, based on the gist I was told (Don’t worry I did my proper investigations… 👀), the NGX emerged as the number one exchange in Africa with a gain of 33.70. The market was rated ahead of the Johannesburg Stock Exchange, the Egyptian Exchange (EGX 30) Index, and the Ghana Stock Exchange. If you can remember earlier in January, NGX emerged as the world’s best-performing stock market in the first three weeks of 2024, beating Argentina, which came second. NGX truly “no gree for anyone”.

Reacting to the performance of the market, the CEO of Wyoming Capital and Partner, Tajudeen Olayinka, said the stock market was in a repricing mode because of an interest rate hike and continued issuances of one-year Treasury bills at a high effective yield of over 20%.

“So, we are witnessing a shift to the fixed-income market,” he said.

Do you think this shift is temporary, or do you think it will last for a while? I mean! Imagine starting the year at N40.917 trillion and closing February at N54.707 trillion. That’s some serious cash flying around!

Anyway, here is the cherry on top! The market capitalization increased by a whopping sum of 13.79 trillion naira between January and February. The interesting part is that Transcorp Power was also listed on NGX with an N1.8trn market cap.

Man! The NGX is not messing around this season.

Elon Musk and Open AI, going Toe-to-Toe!

There’s been a lot of drama lately between Elon Musk and Sam Altman. It all started when Elon Musk tweeted on his platform X (Twitter) – He was like, “Hey, Sam change your name to ‘ClosedAI’ and I won’t hesitate to charge you to court!” …hahaha…

Anyways, after tweeting, he still charged OpenAI to court! Oh! yes, he did! Musk seems to like a lot of drama…lol!

Elon Musk sued OpenAI and accused the firm of breaching contractual agreements made when he helped start the ChatGPT-maker in 2015. The lawsuit alleged that the AI company is not following its founding mission but is putting profit ahead of benefiting humanity. Elon Musk co-founded OpenAI in 2015 but stepped down from the company’s board in 2018.

In his lawsuit, Musk claimed that the company is refining Artificial General Intelligence (AGI) to maximize profit instead of the benefit of humankind. Elon went ahead stirring up a storm for Openai but then Altman decided to respond with interesting details. {Plot twist}

In response to the lawsuit, OpenAI decided to expose the chief troller’s old emails to the company revealing that he was actually in support of making OpenAI for-profit and even suggested merging the company with Tesla. Oops 👀

According to Sam, Musk pushed the start-up to be more aggressive with fundraising. While initial plans were to raise $100 million, Musk wanted a $1 billion funding round for the start-up in 2015.

Ahh! With this email thread, Musk will likely have to explain tire.

While you enjoy today’s gist, please make sure to spread the joy by sharing this with your friends. 🤗Don’t forget to inform them to download the trove app – to enjoy a journey to wealth just like you. Victoria’s Secrets Revealed!

Bestie! you’re gonna need to come closer because I have some secrets to reveal…. *winks*

*Whispers* Victoria’s Secret just announced its share repurchase program…👀

Yeah! You read right. The company announced that its Board of Directors has approved a new share repurchase program “March 2024 Share Repurchase Program”, authorizing the repurchase of up to $250 million of the Company’s common stock. But that’s not all!

The popular company which is a specialty retailer of modern, fashion-inspired collections for women as well as award-winning prestige fragrances and body care has also released a bombshell! The company reported its 2023 financial results for the fourth quarter and fiscal year which ended February 3, 2024.

Based on the report, the Street was hoping for a bigger bang with $2.09 billion in revenue. But instead, the company hit $2.08 billion, missing the mark by $10 million. After the report was released, the company’s stock price decreased by 27%! Well, I guess investors aren’t having it! This is actually said to be their worst performance since they strutted onto the public market three years ago.

Apple, a Long day?

It’s been a busy time for Apple! there’s indeed a lot to keep track of but I’ve got you as usual.

You know last week, I mentioned that Apple has cancelled its plans to develop an electric vehicle. Now, the company is facing some challenges in the Chinese market. China, which is one of the company’s biggest markets, saw its overall smartphone sales shrink by 7% whereas, Huawei had a surge. Oh boy! It seems they’ve got to contend with Huawei to recover their position in the Chinese market!

Yeah! But that’s not all that is going on with the company. Apple has also got some exciting news. The company just added a bunch of new products! Even though it launched without a big event…Anyway, they’ve launched, though. 😜

So, one of the new products is the MacBook Air, which comes with the M3 chip. This MacBook is significantly faster than its predecessor. Compared to the M1 chip, the M3 chip provides up to 60% faster performance, and it’s 13 times faster than the fastest Intel-based MacBook Air. The new MacBook Air also has several new features, such as the ability to support two external displays and faster Wi-Fi. It comes in four different colours: midnight, starlight, silver, and space grey. The 13-inch model starts at $1,099… Wow! Nice!!

Currently, Apple is worth $2.6 trillion. That’s already 14% behind the $3 trillion value of Microsoft But the interesting part is that the company ranks 15% ahead of Nvidia with a market value of $2.3 trillion