What we’re reading (3/21)
“Easy Money? Gen Z Invests Online To Beat Coronavirus Woes” (Reuters). “From South Korea to the United States, a growing number of teens and young adults born after 1996 - dubbed Generation Z - are turning to online investment platforms that offer the chance to make a living with a swipe, but often pose unforeseen risks.”
“As Blackstone Barrels Toward Trillion-Dollar Asset Goal, Growth Is In, Value Out” (Wall Street Journal). “Blackstone Group Inc. became an investing powerhouse by making successful bets on undervalued companies. For the next leg of its expansion, the firm is focused on companies with big growth prospects, even if it has to pay up for them.”
“Cathie Wood's Ark Invest Expects Tesla To Soar To $3,000 Per Share By 2025 On Robotaxi Service” (Business Insider). “Cathie Wood's Ark Invest is out with a new eye-popping price target for Tesla, and investors are taking notice due to the accuracy of its previous price predictions on the electric vehicle manufacturer. Ark now expects Tesla to hit $3,000 per share by 2025, representing a potential upside of 359% from Friday's close and a market valuation of about $3 trillion. That's a sizable increase from its previous 2024 price target of $1,400.”
“Saudi Aramco Profit Slumps 44% After Covid-Battered Year, But Maintains Dividend” (CNBC). “Oil giant Saudi Aramco reported a 44% slump in full-year 2020 results, but maintained its $75 billion dollar dividend payout, with CEO Amin Nasser describing the last twelve months as one of the most “challenging years” in recent history…Aramco said revenues were impacted by lower crude oil prices and volumes sold, and weakened refining and chemicals margins.”
“‘MillionaireMike’, a SpaceX Engineer, Tried to Buy and Sell Inside Information on the Dark Web. He’s Now Facing Jail Time.” (Institutional Investor). “The so-called dark web is well-known as a marketplace for illicit activities such as drug dealing and arms sales. Add insider trading to the list. The Securities and Exchange Commission detailed the dark web’s use as a marketplace for insider trading tips in a complaint filed Thursday in an Indianapolis federal court against James Roland Jones, a SpaceX engineer it accused of accessing ‘an insider trading forum on the dark web in search of material non-public information (‘MNPI’) on which to trade securities.’”
