🍨 Daily Scoop: Last week’s lightning round

By Hoda Mehr Mon, Jul 15, 2019

What you need to know?

Are you up to speed on all your The Daily Scoops? Don’t you worry, we’ve got your back. Here is everything that happened last week:

• Deutsche Bank’s restructuring and job cuts reminded investors of bad memories of the financial crisis. Read more here.
• The Congressional Budget Office (CBO) released a report about how increasing the federal minimum wage may ruin our currently perfect employment rate. Read more here.
• Jerome Powell, Chairman of the Federal Reserve, signaled a high likelihood that an interest rate cut may be coming very soon. Read more here.
• France’s Senate approved a 3% tax on digital services revenue earned in France by Google, Amazon, Facebook, and Apple. And, the U.S. government plans to retaliate. Read more here.
• And, last but not least, FTC approved a $5 billion settlement and let Facebook off the hook. As if $5 billion matters to Facebook. Read more here.
• Microsoft’s Slack-killer application that comes for free with the Windows operating system has 30% more daily active users. Oh, snap! Read more here.

• U.S. markets: All three major stock market indices close Friday higher than where the started the day. And, the story was no different for their overall performance during the entire week. Scroll to the Overall Market section to read more about what happened. 
• Cryptocurrency: Bitcoin price was still hovering at around $11,000 per coin on Friday. Unlike the stock market, where investors were celebrating the all-time highs, cryptocurrency investors are taking their feet off the gas for a few days. However, don’t expect such slow-action vibe to continue for too long.

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The great week of excitements. 

What happened last week?

Watch for anything that may disappoint the investors. High on a possibility of a rate cut, investors are starting this week with confidence. But, the confidence is shaky. There is no confirmed rate cut. There are talks about China toughening up the trade discussions. And, the politicians are being politicians, people are resigning, and tweets are sent out and you know the story very well that we don’t need to talk about it here.

Therefore, we predict that something will shake up investors’ confidence. This week may not be as green as it was last week. But hey, this is a prediction from Friday with a glass of wine in our hands. Don’t shuffle your portfolios because of it.

We will tell you about our predictions’ success or dismal failure in the next week’s lightning round update.

Second-hand cars are hot in China. 

For years, the regulations in China were tough and people were not able to buy or sell second-hand cars across the borders of different provinces. With recent changes in the law, companies such as Uxin Ltd (Ticker: UXIN) are gaining momentum.

Uxin Ltd is the largest, second-hand car marketplace in China, and its shares were up more than 19% on Friday after the company announcedthat it is diversity its loan initiation unit and getting rid of its trouble-maker business unit.

Not even real estate can save the falling cannabis industry. 

Shares of cannabis real estate investment trust fund, Innovative Industrial Properties Inc (Ticker: IIPR), fell more than 8% on Friday. Recently, the cannabis sector is struggling to get back to its glory days. But, IIPR price decline comes after the company introduces a secondary round of offering and consequently dilutes its existing shareholders by issuing more shares in the market.

Cannabis stocks are mostly overvalued and every big or small news inevitably create large swings.

Escobar vs. Musk! Which side are you on? 

So, what happened? 

Two controversial brands, Escobar and Musk, are fighting over flamethrowers. Well, at least, Escobar still calls it flamethrowers, while Musk is calling it not-a-flamethrower.

If you are confused about what we are talking about, well, we are in the same boat as you are. Apparently, the brother of the drug lord Pablo Escobar thinks Elon Musk stole their flamethrower idea and is now suiting Musk for it.

About the Author

The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card