Tomi vs. Elon
This week, Elon is showing Tomi levels, Covid is rebranding, Amazon's workers revolting, and Didi might be getting delisted
Hi 👋
What's crackalackin’ my folks?
Been one long week with that friday turn of events but maybe we won’t be down for too long… Not sure what i’m talking about?
Let me getchu edu’macated!!!
Tomi vs. Elon
The Tesla train (or car, or movement 🤦) shows no sign of slowing down
Truth be told though, that space is neck deep in competition though, you snooze, you loseee!!
Tomi: When last was Tesla NOT IN THE NEWS?!
Everybody: AS INNNNNNN!!
Tesla plans in 2 bullets
Invest up ~1.2 billion yuan ($187.91 million) to expand production capacity in Shanghai
Employ 4,000+ people
Meanwhile, Tomi’s plan in 2 bullets
Make sure I detty this December
Which of my Trove readers will give me Christmas meat this December?
😰🌚
Meanwhile, somewhere in Cali, Elon is planning to increase staff strength to 19k people in Shanghai, although we haven’t heard much about how much more production capacity will increase since there will be no change to the models the factory currently produces.
Tesla holders when all is said and done:
Amazon Workers ain’t here for it!
Nobody:
Amazon Workers: “We no go gree”
Okayy, maybe they didn’t say those actual words🤭🤭🤭, but...
On Black Friday, an international coalition of unions, equality and environmental groups called "Make Amazon Pay" staged a day of action ie. They protested that Amazon should make changes to its business, including improved pay, an end to employee surveillance, and union engagement. I mean, with all the gory rumors around town about working at Amazon? Whew! I don’t envy these folks. This coalition group also got help: an unrelated separate protest by the Extinction Rebellion environmental group blocked the entrances to Amazon distribution centres in the UK. Omo x 1m
We don’t really know what impact — if any — the demonstrations had on the retailer’s operations [especially on their busiest day of the year] or will have on their policies that protesters were seeking to change but hats off to those who pulled this off. I mean, the guts!
Of course we don’t expect Amazon to immediately comment on the impact the protests had on operations, however, a spokesperson for Amazon did say, “We have a large network of sites across the UK and are working to minimize any potential disruption to customers.”
AKA
#TooBigToFail
Meanwhile, at Amazon HQ:
Bezos at home (since he stepped down) be like:
South Africa, How Far?
Not to dampen your shine or anything but I bet you saw it on your app. There was a bloodbath in the market this Friday, it wasn’t the usual black Friday we anticipated ATOLLLL, South Africa gave us a massive shocker!!!
Everything was down, seriously I mean everything: stocks, oil prices, government bonds, all suffered a huge hit after a new fast-spreading strain of covid was announced in South Africa. The WHO has said “it’s a strain of concern” after their meeting on Friday. 🥶🥶Didn’t we think these dark days were behind us? Most of us are vaccinated and we are all coming back outside to play
The Dow Jones Industrial Average closed about 2.5%, or 905 points, lower. The S&P 500 was down 2.3% and the Nasdaq Composite lost 2.2%. The yield on the 10-year Treasury note tumbled to 1.506% from 1.644% before the Thanksgiving break, its biggest drop since March 2020.
And perhaps as folks run for cover, we might actually be seeing similar patterns of investing as was in 2020 during the heat of the outbreak. Airlines stocks dropped >10%, after the U.K., Israel and Singapore restricted travel from southern Africa, while oil producers Exxon Mobil and Chevron fell 4.3% and 2.7% respectively.
Most investors will be looking to work from home stocks to hedge their funds. Vaccine makers Moderna and Pfizer rose 22% and 6.3% respectively. Netflix and DoorDash, which benefited from stay-at-home orders previously, rose 1.7% and 0.7%, respectively.
We are nonetheless hoping for a strong comeback game, if only we can take a cue from her:
#StartedFromTheBottom #NowWeHere
Didi (De)-Listed?
At some point we’ve all used the Uber app. We’ve used it so much, we even use it as a verb e.g ‘I’ll uber there’.
Well if you lived in China with no access to Uber, you’d use an app called Didi. You’d ‘Didi’ there. So, Didi is basically the Chinese version of Uber. #ThanksForComingToMyTedTalk
For context: Didi has over 550 million users (Not much right? Just double the population of Nigeria and some change) in over 400 cities. In 2020, they made an annual revenue of about $22 billion and in June of this year, they debuted on the New York Stock Exchange. #MoneyMovesOnly
You guys: All sounds like they’re doing awesome, so what’s the delisting thingy about?
Well, Chinese regulators [in their very glory] want the ride-hailing giant to delist from the NYSE over “security concerns”. The Chinese government is worried about data security and leakage of sensitive data. 🥱🥱 [Why China dey whine us na?]
Welcome to round 1,000,001 of China vs. the United States.
...brought to you by yours truly: the only Tomi, you love.
Unfortunately, Didi’s issues with the Chinese government didn’t just begin. Before the company went public, Chinese authorities had urged Didi to put their plans for listing in the United States on hold while a cybersecurity review of their data practices were conducted. But the authorities' requests weren’t heeded.
I’m sure the Chinese government was like:
...and in the usual Chinese government version, they sure did. As you would already expect, Didi’s shares dropped by more than 6% after this news of the delisting broke.
However, this announcement didn’t affect only Didi (because as you know, misery loves company), shares in Softbank Group Inc which is Didi’s largest minority shareholder, also dropped by more than 5% on Friday.
...and we out for the night!
Forget not this ministry of yours: You’ve got 5 FREE SHARES WAITING FOR YOU if you tell a friend to tell a friend to:
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Me, when I see you for my Christmas meat 🤷🏾🤷🏾
Your dearest and favorite Stocks Market Gist Partner,
Tomi, From Trove 🖤
XOXO