Week 09/07/2020 - 09/13/2020

Monday Sep.7th, 2020
  • US debt reached its highest level relative to the size of the economy since WWII.
  • Tesla gets rejected and didn’t get into the S&P 500 index.
  • SoftBank fell more than 7% since it was betting on American big tech companies (Amazon, Microsoft, Facebook).
  • Germany’s foreign minister threatened to reconsider the nultibillion gas project if Russia doesn’t cooperate with an investigation into the poisoning of Alexey Navalny, the prominent Putin critic.
Tuesday Sep.8th, 2020
  • GM invested $2 billion for an 11% stake in Nikola and nikola stock soars 40%.
  • Tesla’s stock plunged more than 20%, which makes their worst day ever.
  • Slack’s sales grew 50% last quarter but the stock plunged 20%.
Wednesday Sep.9th, 2020
  • LVMH cancels its $16 billion deal to acquire Tiffany and Tiffany is suing now. (Tiffany’s global sales plunged 29% from April to July and 45% last quarter)
  • Slack’s stock continued to plunge (14%).
  • Google’s Chromebooks are used by 69% of the K-12 schools last quarter because of its low price.
  • Apple countersues Epic Games for breaching its regulations on app payments.
Thursday Sep.10th, 2020
  • Postmates is the 1st official on-demand delivery partner of the NFL.
  • LVMH uses Tiffany’s mismanagment and very diasppointing financials as the reason it’s dropping the deal.
  • Chinese tech company Huawei announced that next year’s smartphones are going to use its own operating system “Harmony OS” instead of Google’s Android.
  • Citigroup’s CEO Michael Corbat announced that he’ll retire next Friday and Jane Fraser will be the new CEO of Citi, which will be the first female CEO fo a major U.S. bank.
  • The August Complex is now the biggest wildfire event in Californica history.
  • Hindenburg Research published a report calling Nikola an “intricate fraud” by accusing Nikola’s founder, Trevor Milton, of nepotisum and overstating the level of functionality of Nikola’s unreleased trucks.
Friday Sep.11th, 2020
  • The UK signed a trade deal with Japan.
  • U.S. coronavirus data is ‘disturbing,’ Dr. Fauci says, disputing Trump’s claim that U.S. is ‘rounding the corner’.
  • Florida will allow bars to re-open at half-capacity.