Tuesday, Apr 12th 2022
“The search for a scapegoat is the easiest of all hunting expeditions.” ―Dwight D. Eisenhower
The below content and projections are the opinion of the authors. Any conclusions or takeaways are their own. This should not be considered as investment advice. Investing involves the risk of loss and returns are not guaranteed.
1) Epic Games raises $2 billion as private capital market thaw continues
Titan’s Takeaway: Epic’s funding announcement made four mentions of the idea that still seems to make investors reach for their pocketbook: the metaverse. And between Shein’s reported fundraise last week and Epic’s round announced this week, private market investors are beginning to move more enthusiastically after the public market sell-off in Q1 cooled sentiment.
2) Shopify to propose stock split, new share class as stock slides amid rising rate environment
Titan’s Takeaway: Executives and leaders can say that public market fluctuations in a company’s stock price doesn’t matter for the business, but actions speak louder. In the last two weeks, Shopify has altered employee comp plans and now rejiggered its share class structure — coming after a ~60% drop in five months, it appears stock prices do change plans.
3) Elon Musk won’t join Twitter’s board of directors as billionaire’s plans for his stake in the company remain unclear
Titan’s Takeaway: The most important detail in Musk’s initial agreement to join Twitter’s board was his promise not to buy more than 14.9% of the company’s outstanding shares. With this agreement appearing to be off the table, the possibilities for the shape the relationship between Twitter and its largest shareholder could take have multiplied greatly.
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