☕️ Apple Car in 2024?
Elon Musk tried selling Tesla to Apple. Tesla shortsellers have lost USD39 billion shorting it. More evidence suggesting Covid-19 circulated even before Wuhan outbreak.
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1. MARKET SUMMARY
2. NUMBERS AT A GLANCE
US$7,11,9,553,831 - how much Bond films made (nominal) at Worldwide Box Office since Dr. No (1963).
US$225 million pay check (stock sale), collected by Netflix’s Reed Hastings.
644 goals - Lionel Messi broke the record held by Brazil great Pele (643).
48 - number of bird and mammal species saved from extinction by international conversation efforts since 1993.
3. COVID-19 SUMMARY
4. IN MALAYSIA
Amanah Saham Bumiputera (ASB) will distribute a dividend of 4.25 cents per unit and 0.75 cents bonus for the first 30,000 units held (RM225). The lowest dividend ever since inception 30 years ago.
Anyone with a business degree would know that whistleblowers should never be tired but the management team in Top Glove Corp Bhd seems aloof. The company will no longer fire whistleblowers and establish 3 helplines for worker complaints. On another note, Ministry of Finance reiterates it has no intentions of imposing windfall tax on rubber glove companies.
Employees Provident Fund (EPF) recorded a gross investment income of RM17.33 billion in Q32020 ended Sept 30 ‘20 which was 28.37% higher than the same quarter in the previous year.
Malaysia Airport Holdings Berhad (MAHB) will save over RM50 million in operating cost per annum at KLIA with the upgraded cooling plant. Average of the latest 5 target prices for this company is RM5.53 - things should begin to look up for aviation counters as vaccines become more widely available.
Tenaga Nasional Berhad (TNB) has announced an electricity rebate of two cents per kilowatt hour (kWh) for domestic and industrial users for the 1H21 because of reduction in actual fuel costs in the 2H20.
Religious authorities in Malaysia have decided that the Covid-19 vaccine is halal. It would have been interesting if they determined otherwise.
5. AROUND THE WORLD
Apple’s car ambition, Project Titan, which was previously shelved seems to be coming back to live, which is due in 2024 to include autonomous features and its own breakthrough battery technology.
Reacting to this news, Tesla’s CEO Elon Musk tweeted that he wanted to approach Apple to acquire Tesla during its ‘darkest days’ for 1/10 of its price but Tim Cook refused to take the meeting. Tesla’s market cap today - USD609.6 billion.During the darkest days of the Model 3 program, I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting.
For short-sellers that have been betting against Tesla, they have lost more than USD39 billion as Tesla’s share price soared by +677% year-to-date as of Monday.
Milan’s National Cancer Institute found that 4 of Italy’s Covid-19 cases dated back to Oct 2019, indicating that the virus has been spreading in Italy and Europe even before China. Studies from Spain and France also supported this.
Lalamove, the on-demand logistics company, closed a USD515 million Series E funding round, led by Sequoia Capital China. This brings its total funding to USD976.5 million.
Some info on Lalamove:
1/ Bloomberg reported Lalamove’s valuation in this round to be USD8 billion.
2/ Founded in 2013, Lalamove is available in 352 cities in China and operates in other countries with large footprints in Southeast Asia.
3/ 480,000 monthly active drivers and 7.2 million monthly active users.
Most of the major and notable IPOs in 2020 have 1 thing in common - Peter Thiel, PayPal co-founder and first investor to cut Facebook a cheque. Some of these companies include Palantir (USD54.5 billion), Wish (USD14.7 billion), Airbnb (USD94.8 billion) and Asana (USD4.8 billion). According to Bloomberg Billionaire Index, Thiel’s wealth surged by +113%, with a net worth exceeding USD7 billion.
SEC has approved an alternative IPO route, allowing companies to raise funds through direct-listing, which will help companies to cut away intermediary banks. Until now, direct-listing is only allowed for existing shareholders to sell their shares, but not raising new funds that go into the company.
The planet Saturn and Jupiter moved into alignment, an event called conjunction. The last time it was this visible from Earth was back in 1226, about 800 years ago. See the stunning images here.
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