Circle won’t be going public

Circle, the company that created one of the most prominent stablecoins, USDC, has canceled its plans to go public. Circle had publicly announced plans for an IPO inΒ July 2021, with a market valuation of $4.5 billion through SPAC.

More market movers from category

Adani’s stock falls more than 16% πŸ“‰

After Hindenburg accused Adani Group (ADANIENT) of massive fraud, the stock plunged significantly. The stock is now down over 16% in just one day and 33% from its peak.

Tesla stock soars 7% πŸ“ˆ

Tesla’s stock surged 7% after Q4 results revealed the company’s annual revenue experienced growth for the 10th year in a row. The company made $24.3 bn in revenue and $1.19 in EPS. Tesla delivered 405,000 cars in Q4.

Microsoft x OpenAI

Microsoft said that it will invest multiple billion dollars over the course of several years in the AI company OpenAI behind ChatGPT. Microsoft has plans to integrate OpenAI’s models into many of its business and consumer products as well.

Google announces large layoffs

There will be 12,000 layoffs at Google, affecting departments including HR, IT, product management, and corporate functions. These layoffs are the latest to rock the tech industry and follow Microsoft’s announcement to eliminate 10,000 jobs.

South African stocks hit new record high

The JSE FTSE All Share Index, which tracks South African stocks, reached a new record high of 80,000. Optimism regarding expectations of more conservative rate hikes from major central banks has buoyed the market mood. The stock index has risen by about 10% so far in 2023.

Amazon to layoff 18,000 employees

Amazon.com is planning to lay off more than 18 000 employees this year. This represents about 1% of all the workforce of Amazon. It will be the biggest employee elimination in the history. It is expected that the retail division and HR of Amazon will be most affected.

More market movers

EU natural gas falls 20% in one week πŸ“‰

The price of natural gas in Europe tumbled for the fifth day in a row, dropping below 54€ on Friday. Prices have dropped 20% in just one week and are now close to levels not seen since September 2021.

Tesla hodls its bitcoins

Tesla announced it didn’t sell any Bitcoin in Q4 2022. However, its portfolio was at $184 million, down from $218 million at the end of Q3 due to the drop in Bitcoin’s price. This loss should now be erased as Bitcoin surged massively in January.

Adani’s stock falls more than 16% πŸ“‰

After Hindenburg accused Adani Group (ADANIENT) of massive fraud, the stock plunged significantly. The stock is now down over 16% in just one day and 33% from its peak.

FTX owes money to many large firms

A new report reveals that FTX owes money to some of the biggest companies in the world. These include Netflix, Apple, Binance, and many others. The document doesn’t show the amount each is owed, but it’s allegedly billions of dollars.

US GDP at 2.9% in Q4

The US economy grew at an annualized rate of 2.9% in Q4 2022,. This is more than the expected 2.6%, following a 3.2% growth in the previous quarter.

Tesla stock soars 7% πŸ“ˆ

Tesla’s stock surged 7% after Q4 results revealed the company’s annual revenue experienced growth for the 10th year in a row. The company made $24.3 bn in revenue and $1.19 in EPS. Tesla delivered 405,000 cars in Q4.

News

Intel craters after terrible earnings and catastrophic guidance

Terrible earnings sent the stock price lower, but the overall positive sentiment could lead to some dip buying.
Best January in 10 years – Bitcoin is on its way to make history!
BTC
-0.5%

Best January in 10 years – Bitcoin is on its way to make history!

Bitcoin soared from $16,500 to almost $24,000 in January so far, indicating a solid relief rally and possibly even the start of the next bull run.
NZD/USD defends critical support ahead of jobs data
NZDUSD
0.15%

NZD/USD defends critical support ahead of jobs data

So far, the uptrend remains intact as investors continue to dump the US dollar.

Hindenburg shorts Adani Group, firm of the third richest man on planet

A large Indian conglomerate, Adani Group, has been accused of frauds by Hindenburg, a company shortselling the stock.