A Twi-SLA Story
The new face of bullying is ____. On another note, Trove was at the New York Stock Exchange & we also met with the CEO of Drivewealth, just because of YOU!
Hello FamBam!
Whateedo!?
Happy Easterrr!!
May the resurrected power of this season bring joy into our lives.
…before we jump into today’s juice 🥴🥴, your favorite Tomi from Trove and our Trove leadership team were at the New York Stock Exchange, where they met Lynn Martin (the President of the NYSE), Peter Tuchman (the Einstein of Wall Street), Jay Woods (an Executive Floor Governor & a wall street veteran) and several others! The team also met with the CEO of Drivewealth, Robert Cortright, and other executives & key stakeholders to discuss the future of investing & ways to make the Trove experience even better.
Read more about our visit here:
Without further ado, let’s get it!
[Y]OUR FAVORITE BILLIONAIRE HAS HIS EYES ON TWITTER
You just gotta love Elon Musk; the guy certainly knows how to keep us talking about him. Arguably, he may even be better skilled than the Kardashians👀
Last week, we informed you that Elon announced his 9.2% stake in Twitter, making him Twitter’s largest individual shareholder. But as we all know, Elon is the epitome of go-big-or-go-home. …and apparently, being the largest shareholder of one of the biggest social networks in the world is infinitesimal by Elon standards.🤠
You know what isn’t small though? Offering to buy the whole company all together. 🥶🤭🌚
I’m sure everyday he gets up, looks in the mirror and thinks to himself “how can I cause chaos today?”
And if we know anything about Elon, he always delivers.
Earlier this week, Elon offered to buy all of Twitter’s outstanding shares at $54.20 per share, calling that his best and final offer. His offer indicated a premium to the current share price of the company’s stock. Elon wrote a letter to Twitter chairman, Bret Taylor, stating in summary that Twitter isn’t currently reaching its full potential and he (Elon, of course) can help the company unlock its fullest potential by taking the company private.🥺
Twitter share value rose by 13%, after news of the offer broke.
Twitter confirmed in a press release that they had received the offer and it would be carefully reviewed and considered by the board of directors. The board believes they will act in the best interest of the shareholders.
So I guess… now we wait…
TESLA TO RESUME PRODUCTION IN ITS CHINESE PLANT
Tesla intends to resume production in its Chinese plants, tomorrow, Monday 18th April. This comes after a 3-week suspension of activity at its factory in Shanghai due to the recent Covid outbreak in the country.
Another win against COVID
The resumption has the go-ahead from the local authorities but is subject to change depending on how the present epidemic situation plays out in the country. The current plan is for the car maker to begin with one shift then gradually ramp things up as the situation permits.
This most recent production suspension has been the longest since the factory commenced operations in 2019. Hopefully this signals the return to production for other EV makers in China such as XPeng and NIO.
My NIO and XPENG holders, are y’all staying strong?
However, the CEO of XPeng said on Thursday that many automakers in China may have to shut down production again in May if the suppliers in Shanghai and the surrounding cities do not return to work.
Another possible shutdown when the companies haven’t even fully resumed?
COVID: can we catch a break pls?!
A CANNABIS STORY
New Jersey is finally coming on board: the state will begin sales of recreational cannabis starting April 21, 2022.
It's been a hard year for many cannabis investors as companies in the industry have seen a steady decline in their share prices.
Quick Recap: Green Thumb is down 26% year to date, while Trulieve is down 30%. Curaleaf Holdings (CURLF) has fallen 25%, Tilray (TLRY) is down 14%, Aurora Cannabis (ACB) has declined 35%, Sundial Growers (SNDL) is off 8%, and Canopy Growth (CGC) has dropped 22%.
But a glimpse of hope seems to be here:
The New Jersey Cannabis Regulatory Commission will be issuing licenses to seven alternative treatment centers to begin adult-use operations, and at least 13 retail dispensaries. In March, the commission approved 68 conditional cannabis licenses, including 18 for manufacturing businesses and 60 for cultivation facilities.
New Jersey will become the first state in the New York metropolitan region to sell licensed recreational marijuana without a medical card according to Gov. Phil Murphy in a tweet.
MUSIC LOVERS, GET IN HERE!
STEINWAY & SONS: The legendary piano maker founded in 1853 is about to go public after rejecting a $1 Billion Chinese bid offer. Talk about knowing your worth?!!
According to its IPO filing, it intends to trade on the New York Stock Exchange under the ticker STWY, although share price is yet to be disclosed. According to reliable sources, the Steinway piano was the instrument of choice for approximately 97% of concert pianists when performing with orchestras across the globe during the 2018–2019 concert season.
The pianos were first born in Manhattan from German immigrant, Heinrich Engelhard Steinweg, and in the 169 years since, the brand has crafted a legacy as the premier instrument for concert pianists performing in the world’s most celebrated theaters, from the Royal Albert Hall in London to the Sydney Opera House in Australia.
The company made $538 million in sales last year, with $59 million in profit, up 13% from the prior year. In coming years, it anticipates significant growth in China, which is the world’s largest piano market.
Would you buy this stock?
Forget not this ministry of yours:
What are you waiting for?!?!
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This week,
Your dearest and favorite Stocks Market Gist Partner,
Tomi, From Trove 🖤
XOXO