my investing muse (24Jun24) - layoffs, costs & profits
My Investing Muse (24Jun24)
Layoffs & Closure news
Fisker officially files for Chapter 11 bankruptcy, lists estimated assets between $500 million - $1 billion, and estimated liabilities between $1 billion -$10 billion, per Reuters.
Weeks after cutting 13% of its workforce, imaging company Satellogic announced it is laying off an additional 70 employees and slowing deployment of new satellites.
Meta forms new Wearables group and lays off some employees. - The Verge
Chegg's closure of the Israel office comes as part of the company’s restructuring plan, which will result in the departure of 441 employees, or 23% of Chegg's global workforce.
Dermtech has filed for Chapter 11 bankruptcy protection and laid off 20% of its staff to support its push to find a buyer for its cancer test technology. - Yahoo Finance
A wave of large bankruptcies is about to hit the US economy — and that could spark job losses for a growing number of Americans, according to Wall Street forecaster Danielle DiMartino Booth. - Yahoo Finance
Retailers are closing nearly 3,200 stores this year, according to a recent analysis from CoreSight Research. The closures are a 24% increase from 2023. - NY Post
Layoff news continued into the week.
Some Technical Analysis
22Jun24 - Double top is forming for Bitcoin USD - typically a bearish signal. I prefer to monitor first. The bottom MACD crossover yet to be completed and at the same time, there is more selling volume based on CMF.
19Jun24 - for the S&P500 (1D chart), the uptrend continues. Technical indicators like MACD and CMF are showing an uptrend with a buying momentum. Are we noticing a double top forming? A stronger volume would be better. :)
Profitable businesses
Is this a bull trap or a bear pit?
There were 150 S&P 500 components that made gains in the past month, but they were outnumbered by 353 losers (totaling more than 500 stocks due to multiple share classes). 70% of S&P 500 components declined in the past month! - Dr Wealth
Costs comparison
Do we require USD$7.5 billion to build 7 charging stations? While the project is ongoing, the pace is underwhelming. In Europe, it costs up to €9,000 for an IRVE.
It is also reported that China’s cost to build high-speed rail is about 2% of America’s.
My final thoughts
The debt situation is worsening in the US. Let us continue to monitor the situation and consider hedging. While the run can continue, the weakening fundamentals and building debts are causing much uneasiness. Debts will need to be repaid eventually.
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