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Motown Bombers

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9 minutes ago, Motown Bombers said:

I'm no economics guru but how is Tesla the world's most valuable auto company when they sell millions fewer vehicles than other manufacturers and didn't until recently even turn a profit on selling cars? 

yeah, I don't get that either.  

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10 minutes ago, Motown Bombers said:

I'm no economics guru but how is Tesla the world's most valuable auto company when they sell millions fewer vehicles than other manufacturers and didn't until recently even turn a profit on selling cars? 

because soon every single tweet world wide will come with an ad for one embedded!

Edited by gehringer_2
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Elon Musk to Acquire Twitter

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SAN FRANCISCO, April 25, 2022 /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company.

Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter's closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.

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Transaction Terms and Financing
The transaction, which has been unanimously approved by the Twitter Board of Directors, is expected to close in 2022, subject to the approval of Twitter stockholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions.

 

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LOL - Ethereum all hyped about finally getting off the environmental bad list and dumping 'proof of work' for 'proof of stake'. Just what the world needs, going from a system that outgrew what was envisioned as being a truly open distributed control, to one controlled only by the guys who could bring the biggest HW to the table, and now right on to direct control by the biggest existing holders. Crytpo, which early fans saw as some kind of decentralization of banking has taken less than 20 yrs to descend into ordinary top down control capitalism. It has turned into a cute little microcosm lesson in the natural wealth/power consolidating properties of capitalism. Build the boat, float the boat, pull up the boarding ladders.

https://www.reuters.com/business/cryptoverse-ether-prepares-epic-merge-quest-eclipse-bitcoin-2022-04-26/

Edited by gehringer_2
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On 4/25/2022 at 11:46 AM, Tiger337 said:

yeah, I don't get that either.  

The price per share is the difference maker. TSLA has a market cap of @ 935B. GM is at @ 56B and Ford at 59B. Tesla is trading at $900 a share, Ford at $15, and GM at $39. Multiply the number of outstanding shares times share price and that is where the difference is. 
 

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18 minutes ago, Tiger337 said:

I think it's pretty obvious what he is doing with his supposed focus on freedom of speech.  That boosts his brand considerably.   

There are also rumors that he will turn twitter into a pay site.  I guess that's the price of freedom!

I think Musk gets bored with things. He'll probably bet bored with Twitter as well.

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Tesla Inc. wiped roughly $126 billion off its valuation Tuesday as the stock fell 12% on investors’ concern that Elon Musk may sell shares to complete his $44 billion takeover of Twitter Inc.

Bloomberg 

 

Edited by 1776
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1 hour ago, Jim Cowan said:

Egads I seem to have lost about 6.5% since last Wednesday.  Oh well.  Still surprisingly higher than this date a year ago.

I am about where I was a year ago.  I felt pretty good back then, so I guess I shouldn't feel bad today.  

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30 minutes ago, Motown Bombers said:

I won't be adding crypto to my 401k. I'm still not entirely sure I grasp what crypto is. Somehow, I feel I'll be just fine if I stay away from crypto. 

Somewhere upthread I had posted an Ezra Klein podcast with a crypto critic. At one point in the discussion Klein made a comment about the fact that as a long time economics writer, when he saw the Superbowl crypto ads with Damon and Larry David he was struck by their obvious FOMO character and that that a classic troll for 'dumb money' investors.

Edited by gehringer_2
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If one is investing and is committed to buy and hold, this isn’t the worst of times. I continue to add incrementally on the bloodier days. I’m retired and my objective is to live off the income the portfolio produces. This means the more shares, the larger the dividend payout. I’m funds only. 
The current market conundrums can be an opportunity depending on one’s goals. If an investor is contributing on scheduled basis, all the better. 

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On 4/6/2022 at 10:09 AM, Deleterious said:

They are predicting an 80% chance its 50bps.  About three years late though.  They have a 50 story high rise on fire and they are trying to put it out with glasses of water from the kitchen sink.

Love it!!!!

My over/under is 2 hikes.  They are scared shitless.

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6 hours ago, 1776 said:

If one is investing and is committed to buy and hold, this isn’t the worst of times. I continue to add incrementally on the bloodier days. I’m retired and my objective is to live off the income the portfolio produces. This means the more shares, the larger the dividend payout. I’m funds only. 
The current market conundrums can be an opportunity depending on one’s goals. If an investor is contributing on scheduled basis, all the better. 

That is what I do with the money which will be used for retirement only.   I don't expect to touch it for at least another ten years, so  it's not too much of a worry that every choice sucks this year.   Inflation is a worry though.   

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1 hour ago, Tiger337 said:

Welcome back Srewball! It's good to see you here.

They did start raising rates in 2018, but I think Wall Street didn't like it, so it didn't last long!

 

Thanks Lee.  Hope you are well.

I followed the migration but just watched from a distance.  I had to sign up to thank Biff in the advise thread so while I was here...

I'm kind of disappointed with this thread - no chart porn.  🙂

And screw the banksters.

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Amazon posting some ugly numbers today.  Rivian is turning into a disaster for Amazon and Ford.  Rivian stock price is down about 70% the past 6 months and I read a lot of their top talent is/has left.

Amazon shares plunge 10% after company issues disappointing revenue forecast

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Here were the main metrics from Amazon's report, compared to consensus estimates compiled by Bloomberg:

Revenue: $116.4 billion vs. $116.43 billion expected

Earnings per share: -$7.56 per share vs. $8.40 per share expected

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The tech giant reported a net loss of $3.8 billion in the first quarter, or $7.56 per share, compared Bloomberg to estimates of earnings per share of $8.40. In the same period last year, Amazon logged a net income of $8.1 billion, or $15.79 per share. Amazon attributed its net loss for the first quarter of 2022 to a pre-tax valuation loss of $7.6 billion from its investment in Rivian Automotive, Inc. (RIVN).

 

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Tim Cook is the best CEO in the game.  

https://www.apple.com/newsroom/2022/04/apple-reports-second-quarter-results/

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Apple Reports Second Quarter Results

Revenue up 9 percent to new March quarter record

Services revenue reaches new all-time high

CUPERTINO, CALIFORNIA APRIL 28, 2022

Apple today announced financial results for its fiscal 2022 second quarter ended March 26, 2022. The Company posted a March quarter revenue record of $97.3 billion, up 9 percent year over year, and quarterly earnings per diluted share of $1.52.

“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind.”

“We are very pleased with our record business results for the March quarter, as we set an all-time revenue record for Services and March quarter revenue records for iPhone, Mac, and Wearables, Home and Accessories. Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “Our strong operating performance generated over $28 billion in operating cash flow, and allowed us to return nearly $27 billion to our shareholders during the quarter.”

Apple’s board of directors has declared a cash dividend of $0.23 per share of the Company’s common stock, an increase of 5 percent. The dividend is payable on May 12, 2022 to shareholders of record as of the close of business on May 9, 2022. The board of directors has also authorized an increase of $90 billion to the existing share repurchase program.

Apple will provide live streaming of its Q2 2022 financial results conference call beginning at 2:00 p.m. PT on April 28, 2022 at www.apple.com/investor/earnings-call. This webcast will be available for replay for approximately two weeks thereafter.

 

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