It’s a Movie! 🎬

My beautiful people!

I hope you had a lovely week!

Is it me or sometimes it feels like March is quite as long as January:

Crazy tins are happening 😪😪

Nevertheless, we got loads in store for you sooo without further ado, let’s dive into the week’s agenda!

By the way, have you binge-watched our Youtube Series on Millennials & Money? No??? What are you waiting for?!

Watch Season 1 of Millennials & Money!

Next Stop: Movies. 🎬

Amazon closed an $8.5 billion deal to buy MGM, combining the fabled movie maker behind “Rocky” and “James Bond” with the online retailing giant as it looks to draw consumers through more streaming video. 🎬

Remember this legendary intro?

Yep, Amazon owns all that now!

Amazon doesn’t have any layoffs planned as it said it would welcome all MGM employees to the company and work with the studio’s leadership. A sigh of relief! 

Lyft is feeling the heat of fuel prices!

Lyft will now add a 55-cent surcharge to each ride, beginning next week, to help drivers with higher fuel prices. The company’s justification is that the surcharge will help offset fuel costs and keep more drivers on the road.

It’s about to be real in this gas economy! 😖

For context,

Oil prices have been rising steadily, due to the ongoing war in Ukraine. This has been affecting ride-hailing services and logistics services more severely. That’s why companies like Lyft and Uber are taking measures like this to help their drivers shoulder the higher prices.

The company said the surcharge will last for at least 60 days. As of Wednesday, the national average for a gallon of gas (fuel) in the US was $4.305. The national average a year ago was $2.873. 

Yikess….*Laughs in Nigerian* 🤯😂

[p.s. Nigeria suffers a worse fate & still rolling with the punches]

This is Tomi’s advice:

Lyft’s competitor, Uber, was the first {of course they were} to announce fuel surcharges after drivers began to voice their complaints. Riders taking Uber trips will pay a fee of $0.45 to $0.55 per trip for at least two months, the company said.

🥺😩😫

Chinese EV stocks made a huge run!!

Most Chinese automaker companies had an amazing week as their stock price soared during a volatile stock trading week. 

Chinese EV Stocks:

The biggest runner of the week was Xpeng, with a percentage increase of 43.71%, the price moved from $20.02 on Monday to close at $28.77. Li Auto, another EV maker based out of China, also saw its share price move 40% during the week.

Y’all wanna cash out without me, but my God is bigger than you!

Nio also had a good run: its stock price moved from $14.78 on Monday to close on Friday at $20.86, giving its investors a 38.24% return in a single week. 

Stock Price Driver: The company delivered a new record-high quarterly delivery in the company’s history. Fourth-quarter deliveries represented a 44.3% year-over-year increase. Vehicle deliveries during the fourth quarter amounted to 25,034 vehicles.

Google’s Googlegeist Ratings

Everyone wants a job at Google but based on a recent employee survey, it seems like all that glitters isn’t gold. 

Like several other companies, Google is setting up for staff to return back to the workplace. 

I’m sure Google’s staff are not excited about that 😂

However, it also turns out that Google staff are not exactly pleased with their jobs.

During their annual employee survey, known internally as Googlegeist, they found that employees are increasingly dissatisfied with their job experience. But the lowest satisfaction rates were with compensation and execution. 

It turns out only about 46% of staff believe their pay is competitive compared to jobs at other companies and only 54% of employees believe that the promotional process is fair

Ermmm Not sure how to feel about this though.. I mean you work at Google! Although, the numbers aren’t very encouraging. 😬

But this isn’t the first time Google has had to have a discussion about staff’s remuneration. Last December,  Google’s Vice President of Compensation responded to rising concerns about inflation and if Google would be increasing salaries to help offset some of the effects, which he said they would not. 

Google staff be like : 

Seems like google execs have some serious work to do. 

However, it wasn’t all bad news. Employees were happy with Google’s ability to deliver on their mission and also their products. With google’s mission receiving a rating of 90%. 

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Tomi From Trove’s Newsletters

As Alexander the Great once said, “There is nothing impossible to those who will try.” This is your week to try great things!

Your dearest and favourite Stocks Market Gist Partner,

Tomi, From Trove 🖤

XOXO

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