☑️ Too high. Elon Musk is back on his bullsh*t. The meme lord himself got his tweetstorm on last week, firing off hot takes about selling all of his possessions and raging against the machine. But his most troublesome tweet sent shares down 10% Friday. He stated that $TSLA stock price was too high. I doubt that was approved by his in-house counsel.
Tesla's CEO has gotten into hot water in the past over his infamous "funding secured" tweet in August 2018. He even promised the SEC that he'd get all statements about Tesla's stock prices and finances approved by legal counsel before firing off a tweet.
Despite the drop in share price, sir-memes-a-lot is still within striking distance of his big $730M payday. The electric car's trailing six-month market value stands at $99.1B, just $1B shy of the targeted $100B, which would trigger his payout.
☑️ Buh-Bye. Softbank's international arm is cutting 10% of its workforce (about 24 employees) in an effort to 'operate more efficiently' (read: we kinda fudged up with that WeWork investment...ok, fine, Uber too, and now need to cut costs).
The conglomerate expects wider net losses, totaling $8.4B for the year ending in March, thanks to, you guessed it, struggles with its WeWork investment. Do you see a theme here?
☑️ Mr. Bezos, c'mon down. Jeffrey Congress, as he'll soon be dubbed, has been asked to testify before the House of Representatives (f*cking nerd can't even land a Senate inquiry) in regards to Amazon's use of third party data. The company has previously stated in DC that it does not utilize such information for a competitive advantage. Sure, and it doesn't clear browser history when it's done with the family computer either...
ICYMI, a WSJ report was released April 23, alleging that Amazon has been using independent third-party data from its sellers to help launch its own products. More than 20 former employees from Amazon's private-label business, AmazonBasics, revealed that Amazon did, in fact, utilize third party data for such purpose, and now Congress wants to hear from the big cheese himself.
☑️ We're sick of it. Essential employees of Target, Walmart, Wholefoods, FedEx, and other companies had a 'sickout' on Friday. Or as I call it, a three-day weekend. They protested the need to work in unsafe conditions where proper safety measures are not implemented.
While it's unclear how many participated at this point, it doesn't seem like many followed through, based on Target's statement that 'these concerns have been raised by a very small minority of the 340k workforce'. But that statement might be one-sided.
The effort also asked people to boycott shopping at certain mega-retailers on Friday, International Workers Day, which if I had to guess, only lead to more people going because they thought the stores would be empty.
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