Hey bestie!
How are you holding up? I’m glad we made it to the second quarter of the year! Hope you are still drinking water and minding your business because this quarter, we need to keep winning!
Yeah! DID YOU KNOW?!? We’ve got some fresh new features on Troveapp!
PLEASE DO WELL TO UPDATE YOUR APP AND ENJOY THESE SPECIALLY MADE-FOR-YOU FEATURES!
Also, did you also know you can invest with zero risk and earn high rewards on Trove? Surprised, right?
Well, It’s easy! With the “Earn by Trove” fixed-income feature, you can earn interest on your money. You gain an interest of up to 20% per annum!WHAT ARE YOU WAITING FOR?!?***Terms & conditions apply***
Yeah! So what are you waiting for?
Go and lock some funds now and come back let’s continue.
I’ll wait for you!
Bezos, Getting Richer by the Minute!
Jeff Bezos is at it again, and this time he’s making a huge move! He’s selling 25 million Amazon shares! Yep, you heard me right! – that’s almost $5 billion worth!
Somebody say “I WILL NEVER BE POOR!”
Yeah! Just last month, Amazon’s stock market valuation hit $2 trillion for the first time, which was a huge deal, even though it’s still trying to catch up to Nvidia, Apple, and Microsoft, who’ve all crossed the $3 trillion threshold.
But that’s not all the good news – the company also reported robust quarterly earnings at the end of April, and just days ago, Amazon hit an all-time high! Mmh…let’s not forget how it all started – a company that began as an online bookstore is now one of the world’s leading online retail and cloud computing giants. Can you believe it? Wow! 👏🏼👏🏼
Amazon’s stock is blazing hot, and Bezos is cashing out big time! Remember in February when he announced he’d sell Amazon shares worth around $8.5 billion? That was the first time since 2021 he’d sold shares, but with Amazon’s shares rising over 30% this year, Bezos might be offloading shares like there’s no tomorrow! 😅😅
And even though he stepped down as CEO in 2021, he’s still the executive chair and the largest shareholder.
Talk about having your cake and eating it too!
Tesla – The Gift That Keeps On Giving!
Elon’s baby Tesla, just hit a major milestone in China that’s got everyone buzzing!
For the first time ever, Tesla cars have made it onto a Chinese government purchase list. Yeah, we’re talking about the same government that’s super concerned about data security… but hey, let’s not get into that right now.
I mean, look who just got an exclusive invite to the coolest party in town!
China has been a huge market for Tesla. I mean, the country accounts for more than half of the world’s total electric vehicle sales, and last year, Tesla raked in nearly a quarter of its total revenue from China.
But here is the tea, Tesla was basically banned from some government and military complexes in China due to spying concerns and data security drama. But, they got their act together, passed the data security test, and now they’re back in the game!
This basically means government agencies and public groups in Jiangsu can now buy Tesla for their service cars.
Of course, the news went viral on Chinese social media and some folks were like “Wait, why are we allowing foreign cars for government use?” And the Jiangsu government is like, “Chill, everyone! The Tesla Model Y is made in Shanghai, so it’s basically a domestic car… with a foreign nameplate and a CEO who makes it to the news headline every sec” 🤣🤣🤣
So, you know how we’re all trying to reduce carbon footprint and stuff? Well, a major player in the auto industry has just been caught red-handed for not playing by the emissions rules. Yeah!
General Motors just got slapped with a hefty fine – we’re talking $145.8 million! – for not being entirely honest about their emissions and fuel economy standards.
So, what went down? It turned out that some of their older vehicles (2012-2018 models) didn’t quite meet the federal requirements. The Environmental Protection Agency (EPA) did some digging and found that these GM trucks and SUVs were emitting 10% more CO2 than they initially claimed. Whoops!
The affected models include some pretty popular ones, like the Chevy Tahoe and Silverado. And get this – it’s not just a few vehicles, we’re talking about 5.9 million cars!
But GM is saying they didn’t do anything wrong, and they’re not admitting to any wrongdoing.
David Cooke, a vehicle expert who isn’t pleased with the situation called out both the government and GM. He was like, “GM, how did you not notice that your cars were pumping out 10% more pollution than you claimed? That’s not just a tiny mistake, that’s a big error! And why isn’t the government making you do something about it, like fixing the problem or at least being honest about the gas mileage?”
Well, General Motors will pay nearly $146m in penalties to the federal government.
Man of the Hour? Mr. Jude Chiemeka!
Big news from the Nigerian Exchange Group! SEC has approved Mr. Jude Chiemeka’s appointment as the new Chief Executive Officer of the Nigerian Exchange Limited (NGX).
Yeah!
He officially started on July 1, 2024, after getting the green light from the Securities and Exchange Commission (SEC). However, before his appointment, he was acting CEO since January, filling in after Mr. Temi Popoola moved up to be the Group Managing Director and CEO of NGX Group.
From what I gathered, he’s got a superstar resume! 🤩.
He has almost three decades of experience in African securities trading and asset management. He’s been the Executive Director of Capital Markets at NGX and the MD/CEO at United Capital Securities Limited. He’s also worked with some top-notch investment firms in Nigeria like Chapel Hill Denham Securities and Rencap Securities (Nigeria). Damn! the man’s got credentials!
And the best part? He’s a fellow of the Chartered Institute of Stockbrokers and an alum of the University of Lagos, Lagos Business School, and the University of Oxford in the UK.
The NGX Group Chairman, Alhaji Umaru Kwairanga, is pleased about the appointment, saying it’s a strategic move that fits perfectly with the institution’s succession plan. And Temi Popoola, who is now the big boss at NGX Group, is confident that Jude’s deep market knowledge and experience will take NGX to new heights!
Jude himself? He’s over the moon about the opportunity!
A big congratulations to him!!
And It’s a wrappppp!
What are you waiting for?!?!Forget not this ministry of yours: Tell a friend to tell a friend to download the Trove AppRate
Until next time folks!Catch more gist on our social media pages
Your dearest and favorite Stocks Market Gist Partner,
Tomi, From Trove 💚
