How have you been??!??!
Hanging on despite this downtrending making-me-lose-my-mind “bloody” market… ?
At least we saw some green on Friday!?! Hopefully that made you smile. Sentiments on the street is that this is the first true correction the market has seen since the most recent strong bull market.
With all these memes running around social media, we just outchea like why the dip keep dipping though?!?!? *Insert a bucket full of tears here*
Elon Musk Loses $27 Billion.
E Shock You?
Alright, goodbye. Yes. What else were you expecting to read? Where is the $30Bn gang? Uncle David, come outside o! Because this is sheer madness!
If you lived under a rock last year, you probably didn’t know that Elon’s rise to the wealth stage was swift and unrivaled. Sigh. Well. E don happen. With a seriously down trending market that’s hitting growth stocks like a wrecking ball, Elon’s wealth is also evaporating like the steam from mama put’s kitchen. E. B. Thingz.
The Tesla CEO has lost $27 billion since Monday as Tesla’s shares made a nosedive in the selloff of tech stocks. Although his $156.9 billion net worth still places him second place on the Bloomberg Billionaires Index, he’s now almost $20 billion behind Jeff Bezos, who he topped just last week as the world’s richest person.
Now playing …where do we go from here?
As E Dey Hot – Hype-Tracking ETFs?
Do you remember the reddit AMC and GME hype saga, what if there’s a way of tracking the hype as an index??? Would you let in or naah, you good? You a baller! You’on need alladat!
Let me shock you!
There is now an exchange-traded fund (ETF) for that! The Van Eck Vectors Social Sentiment ETF (BUZZ) has selected 75 stocks with the most bullish social media sentiment and packages them into an ETF. The ETF is based on the Buzz NextGen AI U.S. Sentiment Leaders Index. The ETF selects stocks that meet these two criteria: those with a $5 billion minimum market capitalization and getting consistent and diverse mentions on social media over the past year. The stocks are ranked each month from highest sentiment to lowest, with the top 75 going in the index.
The evolution of the markets continues to keep us on our toes! We love to see it!
The race to the biggest IPO of 2021 has begun. Two of the current contenders are Robinhood & Coursera:
Robinhood chooses the Nasdaq for its IPO
America’s super-star trading app, Robinhood, is going public. Yea, no news there. The company is said to be listed on Nasdaq but for now, no one knows if it’s going the traditional IPO route or direct listing.
Quick education plug from investopedia: “Initial public offerings and direct listings are two methods for a company to raise capital by listing shares on a public exchange. While many companies choose to do an initial public offering (IPO), in which new shares are created, underwritten and sold to the public, some companies choose a direct listing, in which no new shares are created and only existing, outstanding shares are sold with no underwriters involved.” You’re welcome.
Robinhood will still have to file an S-1 with the Securities and Exchange Commission before it can debut on Nasdaq. We’ll let you in on the full gist when the company releases its officially IPO plans. Stay tuned!!
Coursera? Yep, also going Public!
If there’s any company whose revenue got a boost from the impact of Covid, it’s definitely this online education provider, Coursera. On Friday, the company filed for a stock market listing with U.S. regulators. Mountain View, California-based Coursera was founded in 2012, and has seen revenue rise 59% to $293.5 million for 2020. The company’s IPO plans are backed by Morgan Stanley, Goldman Sachs and Citigroup. We’ll keep you posted as we receive more updates!
… fingers crossed, patiently waiting for these IPOs.
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Because comedy is good for the soul:
There’s always light at the end of the tunnel.
Cameras. Lights. Action.
XOXO
