Capitalist Countdown: Wealthy VC’s Top 5 Investing News Stories of the Week
Welcome to Wealthy VC’s Capitalist Countdown
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 10th – 16th, 2022.
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 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.
READ FULL TWTR HEDGE FUNDS ARTICLE
Throughout 2022, the Global Economy Has Been Grappling With the Aftereffects of the Pandemic and Russia’s Ongoing War in Ukraine
Excess pandemic-related money printing and supply chain disruptions have caused Inflation to spike to its highest levels in nearly half a century. To combat inflation, the Federal Reserve has resorted to an aggressive monetary tightening strategy which has seen interest rates rise dramatically in 2022.
The Relentless March Downward Continues This Week For the S&P 500, With Yet Another Inflation Data Point Giving Investors Cause For Worry
This time, wholesale prices rose 0.4% month over month in September, double the rate expected by most analysts.
READ FULL WHOLESALE DATA ARTICLE
2. Elon Musk Flip-Flops on Twitter Deal, Agrees to Move Forward With TWTR Buyout? (VIDEO)
Concerned With a Perceived Censorship Issue on the Platform, Elon Musk Decided to Start Accumulating a Massive Amount of TWTR Stock, Eventually Becoming Twitter’s Largest Shareholder
Soon after, Elon Musk agreed to buy the social media firm for $44 billion but quickly tried to back out of the deal, leading Twitter (NYSE: TWTR) to take legal action against him. With the Musk v. Twitter case set to commence shortly, it appears the tech billionaire has again changed his mind about the deal.
Notwithstanding the Federal Reserve’s Best Efforts to Curb Inflation, Newly Released Consumer Price Index (CPI) Data Reported an Increase of 0.4% in September
Overall, consumer prices increased 8.2% in the last year, compared to the consensus estimate amongst economists of 8.1%. As expected, markets reacted terribly to this news, selling off in dramatic fashion before staging a surprising mid-day rally, swinging over 5% to close the trading session up 2.6%.
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