The Capitalist Countdown is a weekly series that features the biggest stories from the market’s hottest stocks as well as news from under-the-radar hidden gems capable of delivering mutibagger returns to your portfolio.
Please sit back, relax and enjoy Capitalist Countdown’s top 5 market-moving news stories for the week of October 17th – 23rd, 2022.
In Early August 2016, Crypto Investors on the Bitfinex Exchange Woke Up to Shocking News That Close to 120,000 Bitcoin Worth Roughly $3.6 Billion Were Mysteriously Stolen From Their Accounts By Unknown Hackers
In CNBC’s newly released documentary on the heist titled the “Crocodile of Wall Street,” viewers get a behind-the-scenes look at the five-year investigation that led federal agents to the Wall Street apartment of Ilya Lichtenstein and Heather Morgan, a young married couple and the hackers responsible for the cryptocurrency industry’s largest heist of all-time. In total, the hacker couple stole nearly 120,000 Bitcoin (BTC) valued at approximately $3.6 billion.
The Organization of the Petroleum Exporting Countries (OPEC+) is Slashing its Oil Production, and That’s Bound to Have an Impact on Global Oil Prices as the Reduced Production Will Create a Supply Deficit
With OPEC and other oil and gas companies having high demand during the COVID-19 outbreak, Americans finally saw some relief at the gas pump and thought the worst was in the rear-view mirror. However, thanks to OPEC’s decision to cut production, here’s what consumers should expect.
Faced With a Legal Battle That He Would Have Almost Certainly Lost, Elon Musk Finally Relented and Agreed to Move Forward With His Previously-Agreed-to Deal to Acquire Twitter at $54.20 Per Share
Anticipating that Elon Musk would ultimately have no choice but to move forward with the Twitter (NYSE: TWTR) buyout, well-known hedge fund managers Carl Icahn, David Einhorn, and Dan Loeb made substantial bets that the deal would end up going through. With the TWTR deal back on track, these investors are now counting their massive profits.
Shares of NFLX Stock Skyrocketed 14% After the Closing Bell Tuesday in Response to the Company’s Q3 2022 Earnings, Which Saw the Streaming Giant Post Better Than Expected Revenue and Earnings Per Share (EPS)
With analysts’ consensus estimates projecting Netflix (NASDAQ: NFLX) would report revenue of $7.84 billion and EPS of $2.13 per share, the company surprised the market when it announced Q3 revenue and EPS came in at $7.93 billion and $3.10, respectively. Netflix also reported it added 2.41 million subscribers during the third quarter, more than double its forecast from Q2 2022.
In Four of the Last Five Weeks, the S&P 500 Has Finished in the Red, Putting Many Stocks at Their 2022 Lows
Investors, fearful of rising interest rates and a looming recession, desperately needed something to break the pattern. The downward trend is taking a break as a new week starts, thanks mainly to better-than-expected earnings reports from several large banks. After several banks, including Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM), reported mixed earnings on Friday, analysts did not have a great deal of faith in the earnings for Monday’s reporters, including Bank of America (NYSE: BAC) and Bank of New York Mellon (NYSE: BK).