For months, Mark Zuckerberg’s Meta has been actively working on bringing NFTs to its two major platforms—Facebook and Instagram. Today marked another milestone in this endeavor as users across the US are now able to connect their wallets and cross-post digital collectibles on both platforms. NFTs on Facebook and Istagram Starting on Thursday, September 29th, Facebook and Instagram users are gaining the ability to connect their wallets and cross-post digital collectibles they own to both platforms; This feature will be available to users across the United States, and in 100 countries that have NFTs available on Instagram. The expansion to 100 countries across Africa, Asia-Pacific, the Middle East, and the Americas was rolled out on August 4th; At the very end of August, Meta announced that … [Read More...]
Meta to Freeze Hiring and Cut Costs as Stock Falls 60% YTD
Meta, the parent company of Facebook, Instagram, and WhatsApp, has become the latest tech company to announce a hiring freeze and cost cuts amid a prolonged market downturn. The move comes as Meta has invested a fortune in nascent technologies like the metaverse and VR headsets. Meta Announced Budget Cut For First Time Ever After an era of explosive growth, Meta CEO Mark Zuckerberg has outlined plans to freeze hiring and reduce costs. This marks the first time the social media giant has taken measures to trim costs since its founding of Facebook in 2004. During a weekly Q&A session with employees, Zuckerberg said the company plans to reduce budgets across most teams. Furthermore, the company will not fill the roles of those who leave or shift … [Read More...]
Buffett’s Berkshire Gobbles a Further 6 Million OXY Shares, See What Else The Fund Traded Recently!
On Wednesday afternoon post market close, Warren Buffett’s Berkshire Hathaway in a Form 4 filing with the SEC disclosed the purchase of another ~6 million shares in Occidental Petroleum (US:OXY) from Monday to Wednesday. The purchase comes as OXY’s share price retraced over -20% lower from late August through to late September due to the falling oil price and weaker equity markets. This latest brings Berkshire’s total OXY share count to around 194 million or ~21.5% ownership of the company. On average, the fund paid $58.79 per share for the latest tranche. The fund has already made a 4.5% gain on the shares purchased as OXY’s stock rebounded over the week In addition to the ordinary equity, Berkshire owns 83.9 million OXY warrants bringing the right to purchase … [Read More...]
These Are 10 Asset Management Companies With Over 20% Insider Ownership
When it comes to stock selection, one factor investors may want to consider is insider ownership. High insider ownership generally suggests management’s confidence in the company. It’s a bullish sign that suggests insiders believe the stock price could go up. In this article, we will take a look at 10 asset management companies with over 20% insider ownership. According to the Securities and Exchange Commission, insiders include any “officer, director, 10% stockholder, and anyone who possesses inside information because of his or her relationship with the company or with an officer, director, or principal stockholder of the company.” Ten Asset Management Companies With Over 20% Insider Ownership We used the insider ownership data from finviz.com to develop this list of asset management companies with over 20% … [Read More...]
E-fuel Could Help Save The Planet While Shipping Your Boxes
A significant contributor to greenhouse gas emissions is maritime trade. Eighty percent to ninety percent of all international trade happens by marine transport, which moves more than ten billion tonnes of containers, solid, and liquid bulk cargo yearly. Two to three percent of global greenhouse gas (GHG) emissions are attributed to marine transportation, and that number is expected to rise to seventeen percent by 2050 if nothing is done. Likewise, the International Maritime Organization (IMO)’s 2020 study on greenhouse gasses reports that in 2018 alone, global shipping sent about 1.05 billion of carbon dioxide into the air. This was about 2.9% of the total amount of CO2 that humans put into the atmosphere that year. E-fuels To The Rescue If ships started using low-carbon alternative fuels instead of … [Read More...]
South Dakota 2022 Ballot Sees Measure To Legalize Cannabis Again
On May 25, the South Dakota Secretary of State announced that South Dakota voters will see the Marijuana Legalization Initiative, otherwise known as South Dakota Initiated Measure 27, on the ballot this November. If the majority of voters pick “Yes” on Initiated Measure 27, the state will legalize the recreational possession and distribution of cannabis for adults over 21. An individual may only possess up to one ounce of marijuana at a time, and local jurisdictions determine the regulations on the personal growth of cannabis plants. If someone lives in a county or city without dispensaries available, they can legally own marijuana plants under the proposed state law. South Dakota would also reduce the penalties for non-violent cannabis-related crimes for those over 21. Current criminal punishments in South Dakota … [Read More...]
These Are The 10 Biggest Firms Issuing Earnings Next Week
The third quarter 2022 earnings season will be in full swing starting the second week of October when banking giants JPMorgan Chase, Wells Fargo and Citigroup will announce their financial numbers. We could, however, get some hints on the overall third quarter numbers to expect from the companies that will announce their earnings over the next couple of weeks. Let’s take a look at the 10 biggest firms issuing earnings next week. 10 Biggest Firms Issuing Earnings Next Week We have used the market capitalization of companies (as of Sept. 22, 2022) that are due to announce earnings, to rank the 10 biggest firms issuing earnings next week. Concentrix Founded in 1973 and headquartered in Newark, Calif., this company provides customer experience (CX) solutions and technology. Concentrix Corp (NASDAQ:CNXC) shares are down … [Read More...]
Will Almost Half Of Investment Portfolios Be Thematic In The Future?
One of the greatest investors of our time, Kiril Sokoloff, shares what he expects to be at the forefront of the digital revolution, including disruptive technologies like 5G, AI and blockchain. Thematic investing is one of the most popular investment methods of the 21st century and has been growing for a number of decades. Data from Morningstar showed that the amount of capital invested in thematic funds grew to $781bn at the end of 2021, compared with just $251bn two years earlier, an increase of around 186%. In an exclusive interview with Opto Sessions (part of derivatives broker CMC Markets), the founder of market research firm 13D Research & Strategy, Kiril Sokoloff, explains how a thematic investment strategy has helped him to anticipate some of the … [Read More...]
M1 Finance Review: Free DIY Robo-Advisor, Up to $2,000 Account Transfer Bonus
Updated; ACAT Transfer bonus ends 9/30/22. M1 Finance has updated their promotions: M1 Finance Invest Referral: $10 bonus for depositing only $100. M1 Finance Invest Transfer: Up to $2,000 bonus when you transfer over assets from another broker, depending on asset amount. I’m not a huge proponent of robo-advisors in general, as my experiences with them have generated a lot of unnecessary taxes every time they change their model portfolios to chase the latest and hottest trends. My favorite option is one where YOU control the model portfolio, but the robo does all the hard work: M1 Finance. Here’s a quick rundown of what makes them different: Fully customizable. You pick your own target asset allocation “pie”. (You can add ETFs or individual stocks…. [Read More...]
SoFi Invest ACAT Transfer Bonus Promotion: Up to $5,000, Both New and Existing Accounts
If you are thinking about switching brokers, always check if that broker is offering a transfer bonus for moving your assets over. Most brokers work within the Automated Customer Account Transfer Service (ACATS), which makes it easy to move your existing holdings including tax cost basis history. SoFi Invest is offering a ACAT transfer bonus up to $5,000 for transferring in new assets (expiration date has been removed). $25 Referral bonus. As this promo includes existing accounts, you should consider grabbing this new account referral bonus first, worth $25 of stock with an initial deposit of $100. Get $25 worth of your favorite stock to start building your portfolio when you fund your SoFi Active Invest account** with at least $100*. New SoFi Invest accounts (both … [Read More...]
SoFi Checking: 2.00% APY + $1,000 Deposit Bonus (Existing Users, Targeted via App?), $325 Bonus (New Users)
Update/Reminder: If you were not targeted via e-mail, open your SoFi app and look for the offer banner (see below) in your “Banking” tab. You may have been targeted that way instead. Also a reminder that the deposit must post by 9/30, so act quickly. I have just completed my transfer, initiated at external bank. More details on the SoFi Balance Offer promo page, which states “This offer is limited to one per account. You must receive this offer directly from SoFi to be eligible.” Transfer new cash (at least $5k) into your account by 9/30/22. Maintain your balance until at least 11/30/22 in order to receive your rewards. As long as your account is in good standing, you will receive your rewards points … [Read More...]
These Are The 10 Biggest Marketing Cryptocurrencies
Blockchain is influencing almost every industry, and the marketing industry is no different. The use of blockchain helps to ensure transparency between advertisers and publishers, as well as allows advertisers to magnify their advertising spending. Moreover, it is beneficial to users as well by rewarding them fairly. Let’s take a look at the 10 biggest marketing cryptocurrencies. 10 Biggest Marketing Cryptocurrencies We have used the market capitalization data (as of Sept. 20, 2022) to rank the 10 biggest marketing cryptocurrencies. Jetcoin (JET) This crypto platform aims to provide an opportunity for talented users to boost their reach by utilizing the power of their fan base. JET is down by over 94% year to date and down over 72% in the last 90 days. As of this writing, JET is trading at $0.002861, … [Read More...]
Plynk Investing App: $50 Learn & Earn Bonus
Plynk is a stock and crypto brokerage app that targets beginner investors. Right now, new users can earn up to $50 in bonuses through their “Learn & Earn” promotion. If you already have the Plynk app, I believe you can still earn $40 in bonuses. Open a new Plynk account* and link a bank account and receive a $10 bonus. First, read the Plynk Think article “Beating inflation through investing” on the Plynk app. Then, place a trade during promo period by October 20, 2022 and Plynk will match it up to $20. Basically, place a $20 one-time trade, get matching $20 bonus. If you complete the above, then you are eligible for this next part. Read the article “Time in the market vs timing… [Read More...]
With Another 75 BPS Hike Likely, When Can the Fed Realistically Pivot?
On Wednesday, the Federal Reserve will once again meet to determine the federal funds rate. According to CME Group’s Fed tracker, the most likely rate is another +75 bps hike, placing the range to 3% – 3.25%, from the current 2.25% – 2.5%. That would be the third consecutive +75 bps increase this year. It bears keeping in mind that a +75 bps rate change is anomalous. The last such increase, prior to June/July, was all the way back in November 1994. Due to this market shock, S&P 500 dropped by nearly -20% this year, while Bitcoin lost -58% of its value. The Fed as the Central Market Arbiter It is quite telling that Ethereum (ETH) dropped so hard so swiftly post-Merge. The “sell the news” … [Read More...]
5 Stocks With Attractive Dividend Yields in Canada
Fintel research highlights five Canadian stocks whose dividends may offer what today’s investor seeks. The dividend score combines a stock’s dividend yield and growth rate to generate a score of up to 100, based on its ranking against screened peers. Canadian Energy and Mining stocks have predominantly dominated the leaderboard as they have benefitted from rising commodity prices. Disposable paper product manufacturer Westbond Enterprises (CA:WBE) with a score of 88.52 ranks as the 5th best Canadian dividend rated stock. Westbond pays a current dividend yield of 5.88%. This microcap company is valued at only CAD$12.14 million by market capitalization after losing more than two thirds of its value as the share price cooled after booming during the pandemic over 2021. The company has generated a net profit … [Read More...]
The Real Cost of Zero Commission Stock Brokers + Why Are Some Cheaper Than Others?
In a recent study, the authors opened accounts at six different brokerages with their own money and executed 85,000 market orders. They discovered some interesting details about the actual costs of making trades using “zero commission” stock brokers. Here is the research paper The ‘Actual Retail Price’ of Equity Trades as well as coverage by WSJ and Matt Levine. A few takeaways: “Zero-commission” does not mean “free” trading. There is always a cost due to the gap between buying and selling prices (bid-ask spread). If you bought and sold the exact same share of stock again immediately, you will almost always end up with less money than before. For example, you might buy a share for $100 but only be able to sell it … [Read More...]
These Are the 10 Biggest Firms Announcing Earnings Next Week
Earnings seasons provide investors with unique opportunities. Generally, a company’s share price moves significantly ahead of its earnings, as well as when the company announces its earnings. Such price movement allows investors to make a sizable gain in a very short period of time. So, let’s take a look at the 10 biggest firms announcing earnings next week. 10 Biggest Firms Announcing Earnings Next Week We have used the market capitalization of companies reporting earnings next week to rank the 10 biggest firms announcing earnings next week. AAR Founded in 1951 and headquartered in Wood Dale, Ill., this company offers products and services to commercial aviation, government and defense industries. AAR Corp. (NYSE:AIR) shares are up by over 2% year to date but are down by almost 16% in the … [Read More...]
Online Travel Agencies Booking And Expedia Look Cheap Right Now
When the COVID-19 pandemic grounded planes and shuttered hotels around the world, the travel industry was instantly in dire straits. However, the sector has come roaring back between pent-up demand for travel and the resumption of everyday activities, creating ample opportunities for online travel agencies. Despite the earnings strength of companies like Booking Holdings Inc (NASDAQ:BKNG) and Expedia Group Inc (NASDAQ:EXPE), stock prices remain weak, potentially creating attractive entry points. Recovery In The Travel Industry The United Nations World Tourism Organization (UNWTO) recorded nearly 250 million international arrivals during the first five months of 2022, compared to 77 million in the first five months of 2021. These numbers show the travel industry has recovered nearly half of its pre-pandemic levels, meaning there is a significant runway for … [Read More...]
Megadeth Forays into Web3 With “Rattleheads” NFT Collection
Iconic thrash metal band Megadeth has joined the Web3 world with a launch of a new NFT collection. The “Rattleheads” collection, based on Megadeth’s mascot Vic Rattlehead, encompasses the band’s rich 40-year history through generative themes and imagery. Megadeth’s NFT Collection Inspired by the Band’s Mascot The Web3 has welcomed another renowned member from the music space, Megadeth. The 40-year-old thrash metal band has joined “the future of the internet” by launching its own non-fungible token (NFT) generative art collection “Rattleheads”. The collection, created by Five to One Collective and Upper Echelon Studios, was inspired by Megadeth’s popular Cyber Army fan club involving “mission deployment mechanics” and a broad range of additional utilities expected to come in the future. The announcement came on the 61st … [Read More...]
Vanguard Adds $20 Annual Paper Statement Fee For Accounts Under $1 Million
If you have brokerage accounts with Vanguard, you may have received an email with the somewhat vague subject line “The fee policy is changing for brokerage accounts”. Whenever fees goes down, the subject line is usually “WE SAVED YOU MONEY BY DROPPING THIS FEE!! 🎉🎉🎉” Whenever fees goes up, it’s “btw we made some changes”. So you can guess what this means. The new policy is that all Vanguard brokerage accounts have a $20 annual fee, unless you have any one of the following: You have elected e-delivery of statements and the annual privacy policy notice; confirmations; reports, prospectuses, and proxy materials; and notices, amendments, and other important account updates, Your brokerage accounts are enrolled in an advisory program… [Read More...]