Wanna Ride With Me To Space? 🚀
This week, Tesla, Netflix, & Virgin caught our eyes!
Hi 👋,
How was your week? Hoping it was great? Just a few nuggets for today.
Hop on!
Playing Squid Games on Netflix
Ever played the children’s game: Red Light 🔴, Green Light 🟢? Didn’t think so. We’re all living (or not) vicariously through them gamers.
Just like Marvel used Shang Chi to capture our Asian audience,  Netflix is doing the sameeee with Squid Game. Yep! Netflix (NFLX +2.8%) has invested heavily in producing Korean content and the company’s latest original production, Squid Game, is paying off, not only in viewership but in investors who are buying shares of companies related to the series. Squid Game has become the first Korean drama to claim the Number 1 spot on Netflix globally, attracting investment in various Korean media. Don’t ya love it when your hard work pays off? On Tuesday, the company announced the acquisition of video game creator, Night School Studio, best known for Oxenfree, a supernatural teen thriller. It also rolled out five mobile gaming titles in select European markets - games based on one of its top series, Stranger Things.
These developments helped Netflix shares soar about 2.6% .
Tesla evicted from Cathy’s Ark?
While I’m looking here for how to get in on some of the Tesla action, people are out there selling monumental amounts of Tesla shares?! Um, make it make sense, abeg.
In the heat of the Tech Stock sell-off last week, Cathie Wood of ARK Invest announced that it sold about $270 million worth of Tesla shares. Scratching my head, Wood's Ark Investment Management offloaded more than 340,000 Tesla shares across three exchange-traded funds on Tuesday.😫😩 It is speculated that this large sell-off is part of regular portfolio management and is not indicative of any issues with the shares. Omo x100 🥶🥶 Although Ark has not made any direct comments regarding the action, the company often trims its stake in the carmaker when it has performed very well or grown too large in the portfolio. Think about it as taking profit off the table. I’on blame them. Counterintuitively, Wood predicts Tesla shares will rise from around $778 currently to $3,000. Hehe, I see you Tesla investors smiling from ear to ear right now.Â
On another note, Tesla delivered 241k EVs in Q3, the company reported earlier. The quarter’s deliveries beat analysts expectations. Analysts predicted that Tesla would deliver around 220k electric cars during this period. A win IS A WIN, IS A WIN!
Virgin Palava!!!
In case you hadn’t noticed, the Virgin Galactic stock had been down since it’s last flight to space, although it was successful. However, on Thursday, shares soared as high as 16%, after the Federal Aviation Administration (FAA) announced that it had finished an inquiry into the company’s test flight which flew out of its protected airspace ...and we all know how America is about it’s airspace, whew! Virgin Galactic’s flights have been grounded since Aug. 11 and shares have been down 52% since the FAA investigation became public information. The shares lost more than half their value in the past three months. Investors are like fake friends sha, only with you when you’re up.Â
Now that the FAA investigation is out of the way, who is going on a space tour with me? Talk now oh! The next planned flight, Unity 23, was scheduled for late September or early October, but Virgin Galactic had postponed those plans due to a potentially faulty part.
But whenever they announce the date, I’m ready. Who is joining me ?
Here is where we tie the knots for today!!!
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Have a great October ahead.
Your dearest and favourite Stock Market Gist Partner,
Tomi, From Trove 🖤
XOXO