📊 Biggest Tech Layoffs In 2024

1) Every Cava Is Worth $30M 2) Nvidia Reaches The Top, 3) 15 Stocks Profit Margin and more!  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

June 23, 2024   |   Read Online In partnership with In partnership with Happy Sunday! Welcome to the +150 subscribers that have joined us in the last week. Glad to have you onboard. As the market was closed this Wednesday due to Juneteenth, there was less news than usual. However, there's still a lot to cover! Let's dive right in. Some key data bites from this week that you should know:  Activist investor Starboard purchased a $500M stake in Autodesk $ADSK. AMC $AMC announced its issuing $125M in new debt. Home prices hit a record high, with the median home reaching a price of $419,300. Warren Buffett bought $OXY for 9 straight days, increasing his stake to nearly 29%. Billionaire Steve Cohen is looking to raise $1B for a new AI hedge fund. MicroStrategy $MSTR acquired 11.9K Bitcoin $BTC for $786M. 29% of central banks intend to increase their gold reserves in the next 12 months. Nikola $NKLA announced a 1-for-30 reverse stock split. In today's newsletter: 🥙 Every Cava Is Worth $30M 🦾 Nvidia Reaches The Top 💼 Biggest Tech Layoffs In 2024 📊 S&P 500 Every Year 💰 15 Stocks Profit Margin Is Cava the next Chipotle? That's what investors are betting on. The Mediterranean fast casual stock has been on a tear, climbing over 300% since its IPO. And in 2024, it's already up roughly 130%. With a market cap nearing $11B as of 5/21, this translates to a $33M market value per store for each of its 323 restaurants. Yet, each of these restaurants generates only about $3M in revenue per year on average. It looks like investors are willing to pay a high premium to not miss the next hot restaurant stock. During the week, Nvidia briefly became the most valuable company in the entire world. Since then, it has rescinded its lead, but still closely trails Microsoft and Apple. A decade ago, Nvidia's market cap was a mere $10B.  Since then, it's grown by a staggering 30,000%, marking a 300x return. This meteoric rise has propelled Nvidia's market cap to $3.11T. Here's some interesting TTM figures to consider: Nvidia: Market Cap: $3.11T Revenue: $80B Profit: $43B Microsoft: Market Cap: $3.34T Revenue: $237B Profit: $86B Apple: Market Cap: $3.18T Revenue: $382B Profit: $100B The question on everyone's mind: What will Nvidia's market cap be when it reaches the same profit as Microsoft and Apple? This week, the online learning platform Chegg announced it would be reducing its global headcount by 23%, laying off 441 employees. This move puts Chegg among the many tech companies making layoffs in 2024.  According to Layoffs.fyi, 337 tech companies have laid off 98,834 employees this year.  In 2023, a staggering 1,191 tech companies let go of 263,180 employees. Tesla leads the pack this year with 14,500 employees affected by layoffs.  It's likely we'll continue to see layoffs as companies look to restructure in an attempt to accelerate execution and reduce expenses. 📣 A Message From Our Sponsor Two Forbes 30U30 Founders Transforming Mental Wellness People scroll on their smartphones, they get depressed. Today, 25% of American adults are suffering from a diagnosable mental health condition. After seeing their mother struggle with depression, Lee brothers, Forbes 30U30 winners, founded Aura, already with over 8 million users and 100K+ paying subscribers. Aura quickly received investments from Silicon Valley's legendary VCs as well as executives from Spotify, Youtube, Facebook, and Apple. And they're just getting started. For [x] more days, you can invest in Aura alongside 2000+ investors and back the future of mental wellness. Only a few days left to invest. Is this the most resilient stock market in history? Despite record high interest rates, above average inflation, and other headwinds, the market continues to reach all time highs. This week, the S&P 500 briefly crossed the 5,500 market for the first time ever before ending the session lower. A few other interesting data points? It's been 378 days without a 2%+ drop, the longest since the financial crisis. In addition, 10% of S&P 500 members hit 52-week highs this week, with 70% trading above their 200-day average, showing a strong upward trend. Analysts are bullish too. Goldman Sachs raised its S&P 500 year-end target to 5,600, and said 6,300 was possible. When it comes to investing, a robust net profit margin is crucial. A high margin signals competitive strength, effective pricing strategies, operational efficiency, and skilled management. It's essential to note that margins vary across industries; for instance, software companies often have higher margins than automobile companies. To make informed comparisons, its better to focus on companies within the same industry and track how their margins evolve over time. In this infographic, we see a broad range of profit margins: Visa boasts a 54% margin in payment processing, McDonald's achieves 34% with fast-food chains, and Nike maintains a 10% margin in athletic apparel. 📣 A Message From Our Sponsor The Rising Demand for Whiskey: A Smart Investor's Choice Why are 250,000 Vinovest customers investing in whiskey? In a word - consumption. Global alcohol consumption is on the rise, with projections hitting new peaks by 2028. Whiskey, in particular, is experiencing significant growth, with the number of US craft distilleries quadrupling in the past decade. Younger generations are moving from beer to cocktails, boosting whiskey's popularity. That's not all. Whiskey's tangible nature, market resilience, and Vinovest's strategic approach make whiskey a smart addition to any diversified portfolio. Schedule a call with a Vinovest advisor to learn more. 🎨 Adobe Sued. The U.S. government is suing Adobe $ADBE for making it difficult to cancel subscriptions - TV 🧑‍💻 Doomscrolling. The Surgeon General believes social media apps should come with a warning - NYT 📪 BNPL Shutdown. Apple $AAPL will be shutting down its buy now, pay later service - TV 🍟 AI Orders Cancelled. McDonald's $MCD removed its automated order taker technology from drive thrus - BI Notable Companies Reporting Earnings Next Week: Tuesday (6/25): FedEx $FDX, Carnival Corporation $CCL Wednesday (6/26): Micron Technology $MU, Paychex $PAYX, General Mills $GIS, Jefferies Financial Group $JEF, Levi Strauss & Co $LEVI Thursday (6/27): Nike $NKE All of the companies that are reporting earnings next week can be viewed here. Major Trades Published 06/17 - 06/21. Trades may be those of family members. [Source: 2iQ] Buys Richard Blumenthal (D) Company: Sweetgreen ($SG) Amount Purchased: $250K - $500K Mike Kelly (R) Company: Cleveland-Cliffs ($CLF) Amount Purchased: $50K - $100K Sells Richard Blumenthal (D) Company: Sweetgreen ($SG) Amount Sold: $250K - $500K Mike Kelly (R) Company: Vanguard Mid-Cap ETF ($VO) Amount Sold: $15K - $50K Major Trades Published 06/17 - 06/21 Buys Exxon Mobil ($XOM) Insider: Maria Dreyfus (Director) # of Shares Purchased: 18,310 $ Amount: $2,000,386 SEC Forms: [1] Biohaven ($BHVN) Insider: Bruce Car (Chief Scientific Officer) # of Shares Purchased: 30,000 $ Amount: $1,007,490 SEC Forms: [1] Sells Applied Materials ($AMAT) Insider: Gary Dickerson (President & CEO) # of Shares Sold: 400,000 $ Amount: $98,579,111 SEC Forms: [1] Uber ($UBER) Insider: Dara Khosrowshahi (CEO) # of Shares Sold: 1,000,000 $ Amount: $70,421,300 SEC Forms: [1] Nvidia ($NVDA) Insider: Jensen Huang (President & CEO) # of Shares Sold: 480,000 $ Amount: $63,452,132 SEC Forms: [1], [2] Dell ($DELL) Insider: William Scannell (Pres., Glob. Sales. & Cust. Ops) # of Shares Sold: 160,271 $ Amount: $24,411,625 SEC Forms: [1] How was today's newsletter? I value all of the feedback that I receive. Let me know how I did so I can continue to make this the best investing newsletter available! Share Feedback Submit A Request 🤝 Review of the Week Share Carbon Finance Enjoy my newsletter? Share it with friends who love investing to receive free rewards! Every referral helps 😊. You currently have 0 referrals, only 1 away from receiving my ChatGPT Investing Guide. Click to Share Or copy and paste this link to others: https://www.carbonfinance.io/subscribe?ref=DwqDXt8SIM Disclaimer: The publisher does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author, paid advertiser, or partner and do not reflect the official policy or position of any other agency, organization, employer or company. 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