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Enjoy our platter of digestible Wall Street morsels in bite-sized bits.
Update all. Last week’s Google I/O developer conference contained a bumper list of updates (including their first folding phone). Could journalists be nervous or will we continue to crave that human touch? Regardless, the self-proclaimed ‘AI-first company’ is putting all their eggs in AI’s basket - news that rallied investors, hiking Alphabet stock (GOOGL, GOOG) 4%. 🥚 Also read: FAANG stocks have been on the move
Rough ride. It’s been downhill for Peloton (PTON) since their December 2020 peak, when shares hit US$162.72. Now, with stock settling around US$7 - a plummet of nearly 95% - the company is backpedalling after recalling 2 million exercise bikes with dodgy seats. 🚳
Not the cheese. People might be flocking to the House of Mouse adventures in real life, squeaking up Disney (DIS) earnings 13%, but their shares took a hit last week after reporting that streaming service Disney+ lost 4 million subscribers, which bled US$659 million last quarter. The second quarter announcement saw their Monday share high of US$103.80 drop 10.5% to US92.28 following the news. Could Disney’s loss be Netflix’s (NFLX) gain? 🎬
Holiday hideout. Seems not even a Northern Hemisphere summer and record-breaking holiday splurging is on the side of Airbnb (ABNB), which just can’t catch a break. Stocks plummeted last week from a US$128.51 high, down nearly 18% to US$105.28 following their announcement that they expect bookings to fall in their Q2. This, despite reporting a 20% hike in revenue - to US$1.8 billion - in their ‘record high’ first quarter earnings. 🏡 Also read: We’ve replaced shopping for travel in 2023
The big short. As JPMorgan Chase’s CEO asks for regulators’ to show accountability and ‘humility’ for being ‘a little bit a part’ of the banking crisis, the screws may be tightening on market short-sellers; traders who have cashed in more than US$7.5 billion this year shorting smaller banks. 💸 Also read: What really happened with SVB?
We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.
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