Trump NFT Euphoria fades, money managers plan massive stock selloff, FBI link in Twitter files and more: 5 key stories you may have missed from the weekend – Tesla (NASDAQ:TSLA)
The end of the year is usually a period of light news flow and less talk. Given this year’s unusual circumstances, there are many discussions about when the market downturn will end, the likelihood of the US economy entering a recession in 2023 and how companies will fare.
Here is a summary of some of the big headlines that hit the thread this weekend:
1. Study warns against deeper selling of shares: Contrary to expectations that attractive valuations can trigger bargain hunting, a study showed that institutional investors want to go on a sales trip by the end of the year. Prominent money managers, including the Norwegian Oil Fund, could load up to $100 billion in stocks by the end of 2022, according to a recent study by JPMorgan and StoneX Group.
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2. #TwitterFiles6 Drops: Serial revelations about internal happenings at Twitter under the former regime continued with Twitter Files No. 6 being dropped last week. The revelations made by independent journalist Matt Taibbi showed that Twitter acted as a subsidiary of the Federal Bureau of Investigation. The contact between the two was “constant and pervasive” and both shared a “happy one-big-happy family vibe,” the revelations show.
3. Trump NFT Collection crashes: The non-fungible token collection of former president Donald Trump fell over 50% to as low as 0.33 ETH early Sunday morning. This is far from Saturday’s highest floor price of 0.84 ETH. The collection, which consists of 45,000 individual collectibles, sold out for $4.45 million within a day of launch.
4. Musk easing out of Chief Twit role? Amid growing criticism over Elon Musk‘s Twitter busyness hurts Tesla Inc. TSLA stock, the billionaire ran a poll, asking people’s opinion on whether he should relinquish his CEO role at the social media platform. The verdict was in, with the majority telling him to resign.
5. Buy signal for abused cryptos: Leading crypto analytics firm Santiment said the crypto market is signaling a bullish turn. Headwinds that included liquidity fears in Binance, the Fed rate hikes and the ongoing headlines on Sam Bankman-Fried‘s the lawsuit led to capitulation in the crypto market last week. “Historically, this uncertainty is a bottom signal,” Santiment said.
What else: Apple Inc. AAPL has reportedly withdrawn from talks with National Football League above Sunday ticket deal after disagreements between the company and the NFL about offering it as a package for its Apple TV+ subscribers at no extra cost.
Alphabet Inc.‘s GOOGLE GOOG Google seemed to have benefited greatly FIFA World Cup 2022 final on Sunday. CEO Sundar Picahi tweeted that Google Search recorded its highest traffic ever in 25 years during the final.
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