Keeping tabs on the news and latest trends in the stock market is helpful. Your retirement, college or other investment driven goals may benefit from your diligence. In this week’s Weekly Round-Up, we will focus on some stock market highlights. Let’s take a look at these articles from the past week.
Weekly Round-Up: 3 Stock Market Highlights June 14-20
Review of Slack’s Stock Performance
First in our stock market highlights, Reuters reviewed the very successful performance of Slack this week. Slack creates communication tools for the workplace. And they are apparently doing a great job! The company is now valued at $23 billion.
“The stock closed at $38.62, compared with the New York Stock Exchange’s reference price of $26 apiece,” reported Reuters. Later on they quote Allen Shim, Slack’s chief financial officer, “We think a direct listing is a more effective and efficient way to get to a normalized level of supply and demand without the constraints of an IPO.”
Spotify was the first company to direct list. Keep an eye out for more of these options as time goes on.
Facebook’s New Cryptocurrency Receives Push-Back
Have you heard about Facebook’s new venture into cryptocurrency? Bitcoin is one example of cryptocurrency you may have heard of before Facebook’s project. They are receiving heat from Congress on this latest move.
However, CNBC reports:
Earlier this week, Facebook announced that it would launch a cryptocurrency run by the nonprofit Switzerland-based Libra Association in 2020. The project will not be controlled or fully run by Facebook, according to its white paper. It’s also being run by a collaboration of organizations and companies that include Stripe, Uber, Mastercard, Visa, PayPal and Spotify. But Facebook has plans to profit from it through a new subsidiary, Calibra, that is building a digital wallet to store and exchange the cryptocurrency.
Facebook is not afraid to be bold. Let’s see what happens next to this social media giant.
Treasury Bonds at Lowest Level in Three Years
CNN explains, “For consumers, lower rates mean things like lower mortgage rates, which is favorable for spending. For companies, they mean cheaper debt to fund expansions. But for investors, lower rates — and therefore lower yields — also mean it is harder to find investments with an attractive return.” As stock market highlights goes, this one is a doozey. Read the entire article to dig deeper into bonds and yields.
See you next week for more financial news!