Uber the rideshare tech company, its stock tanked on its first official trading day on the NYSE, Friday, May 10, 2019 will be a day of turmoil on the Uber corporate calendar. It was a horrible trading day for the mammoth ride sharing tech company.
Uber declined close to 8% during the stock market trading day. The stock plummeting so much (in which it did), is the first time any stock has come out the gates on Wall St and lost so much market share. The valuation of Uber was at $76 billion dollars, when analysts had predicted that it would be valued around $90-$100 billion dollars, well that didn’t happen. Not only that, Uber has been bleeding money and the perception is that, Uber won’t actually make any real money until the year 2024, hopefully.
Uber being one of the biggest IPO companies probably since Alibaba, Facebook and a few others. So it to falter as it did was a shocker to some and to others, not so much. Technology companies tend not to fare well in the beginning of their IPO presence. Facebook had a rocky start coming out the gates and other big tech companies before it, have gone through similar revelations.
It’s the test of time that will dictate the longevity of Uber’s existence and if they can navigate their ship in theses rough and turbulent stock market waters. -SB
1) Tomato prices could raise 40% from U.S. withdrawing from trade pact with Mexico, called the Tomato Suspension Agreement which expires this Tuesday. This will trigger duties of more than 17% on tomatoes coming from Mexico. Tomatoes from Mexico are selling below domestic production cost.
2) The Dow Jones slid down 648 points, before rising to 473 points on closing, over news that America will impose higher tariffs on Chinese goods late this week. The Nasdaq and S&P 500 also experienced similar significant drops over fears of a full blown trade war with a down turn in global growth and a drop in China’s GDP.
3) Analyst say that a breakdown in the semiconductor field is a warning sign that a trade war with China is coming. This industry is more sensitive to U.S. – Chinese trade tensions. Watch the Philadelphia Semiconductors SOX index, for if the index falls below about the 1,430 level, that indicates trouble.
4) 7 MAY 19 Stock market closings:
Dow 25,965.09 down 473.39 Nasdaq 7,963.76 down 159.53 S&P 500 2,884.05 down 48.42
1) Wall Street is expecting another surge upwards of the markets, which they are terming a ‘melt up’ and analysts are recommending call options contracts which pay off in a move higher. Call option contracts give the investor the option to buy in at an agree price, but are not obligated to buy.
2) Pork prices are expected to jump this year because African swine fever is ravaging the hog population of China, a big consumer of pork. Because there still isn’t any containment of the disease, analysts estimate it will be at least twenty months of elevated pork prices. Non-domestic pork demand will continue into 2020 at a minimum.
3) With U.S. crude stockpiles rising, traders are fearing oil prices will slide despite bullish forces traditionally pushing oil prices up. The tightening sanctions on Iran, the unstable state of Venezuela and OPEC’s desired to reduce production, are all forces that push oil prices up, but U.S. domestic production and rising stockpiles may counter these forces.
4) 1 MAY 19 Stock market closings:
Dow 26,430.14 down 162.77 Nasdaq 8,049.64 down 45.75 S&P 500 2,923.73 down 22.10
We are back like we never left of course, we had the pleasure of interviewing hip hop artist and musician Yoson Tala @Yoson_Tala007. Many people might know Yoson from being on tv shows, such as the @BadGirlsClub (Oxygen) & hit tv show on Fox @EmpireFox, he has been featured on Showtime’s @ShoTheChi & NBC’s @NBCChicagoFire, just to name a few.
Yoson @Yoson_Tala007 came on #TheCast
to discuss his musical endeavors, taping current episodes for Empire,
his upbringing in Gary, Indiana and Chicago, IL, as well as what strip
clubs he enjoys (Luisa L @LuisaModels chimes in * ;)* wink*….and much more ..
We’re back for another episode. Sammy BE @EcoFireTV, James, Lyman & Jon Don Sterling “On The Boards” @TheDramaBlock.
The trio had the pleasure to interview Nigeria’s media platform ObjecTvMedia’s Shomade Olwaaegun @Objectvmedia. He was able to describe what was going on the ground, in the recent Presidential/National Assembly elections in Nigeria.
Shomade was able to give a detailed account
and opinion on the respective candidates for the Nigerian presidency and
what the two major parties APC & PDP were doing to court youth
voters, and what INEC was doing to make sure that elections throughout
the country was free, fair and credible.
This is a must listen to episode, in its truest form.
1) Venezuela has 1,700,000% inflation rate, its money now so worthless that the people are now using the Columbia Peso to do business such as paying for labor and buying goods. This has come about because so many Venezuelans are buying what supplies they can get from Colombia.
2) Wal-mart announced they will no longer employ store greeters. This was a job that many handicapped people could do, and there are thousands of disabled workers whose jobs will be lost with limited prospects of re-employment. No reason was given, but the slump in big box retailing was most likely a significant factor.
3) The Central Bank Chief warns that dangers are brewing ahead, the bank closely watching the situation. While the current economy is heathy, fears of the impact of China’s and Europe’s economic future are of particular concern from effects of Brexit and trade negotiations. Also considers the Federal debt making an unstable economic environment.
4) 26 FEB 19 Stock market closings:
Dow 26,057.98 down 33.97 Nasdaq 7,549.30 down 5.16 S&P 500 2,793.90 down 2.21
THE CAST PODCAST… Back at it again, with another banging episode for your ears. Sammy BE @EcoFireTV & Luisa L. @LuisaModels, along with Jon Don Sterling “On The Boards” @TheDramaBlock.
this podcast episode, we had a special guest interviewee. Our guest
happens to be a super manager in the music and entertainment game, her
clientele ranges from Bobby V. (Bobby Valentino), Houston, Texas rap
legend Scarface (Gheto Boys), R&B duo group Ruff Endz, as well as
her other major accolades; we were able to interview Ms. Melinda
Santiago from (The Santiago Firm).
Melinda was able to give THE
CAST PODCAST, insight into the music biz and particularly on how she
runs her business. She provided context of what young artists
(Millennials, Gen Z) need to do to be heard and gain exposure to a
She also provided the ups and downs of the
entertainment business, and the struggles women have in the music
business; but also the strong backbone she has, to be able to survive
and progress in this male dominated business and industry.
This is an episode you surely do not want to miss.
New article posted below titled, “Failings of the Fourth Estate!”
1) The CIO of Vanguard investments expects stock market returns, for the next decade, to drop down from 8% to about 7%.
2) The national debt has topped $22 trillion dollars. The debt increase is accelerating as a result of the tax cut and congressional spending on domestic and military programs. Additionally, the mounting cost to fund social security and the retiring baby boomers is pushing federal spending up too.
3) In Venezuela the cost for a hamburger is now a months wages for the average worker, with inflation now over one million percent annual. Demonstrations mount against Maduro for not letting relief (food and medicine) convoys come in for his people. Maduro rejects foreign aid fearing it is a conspiracy to oust him. This issue could be a wedge between Maduro and the Venezuela military who he depends on to remain in power.
4) 12 FEB 19 Stock market closings:
Dow 25,425.76 up 372.65 Nasdaq 7,414.62 up 106.71 S&P 500 2,744.73 up 34.93
1) Trump’s Venezuela oil sanctions has put Russia’s massive loans at risk. With loans of over $7 billion dollars from Russia, which were to be repaid in crude oil delivers instead of currency, Russia faces ‘no payment’ until the sanctions are lifted.
2) Because of the increased production of oil in the US and imports from Canada, the use of oil carrying trains is increasing after having declined. Pipe lines are unable to carry the increasing volumes of oil to refineries.
3) Italy is now in negative economic growth for the second quarter, with no prospects of reversal in the near future.
4) 31 JAN 19 Stock market closings:
Dow 24,999.67 down 15.19 Nasdaq 7,281.74 up 98.66 S&P 500 2,704.10 up 23.05