Three Things (6/23)
Jun 23, 2022
1) JPMorgan to lay off hundreds of employees: JPMorgan Chase plans to let go hundreds of lending employees in a shakeup of the bank’s mortgage business. With borrowing costs rising to their highest levels since 1987, housing demand is starting to cool after a decade-long bull run. The move follows Wells Fargo, the largest U.S.mortgage lender, decision to reassign and cut its workforce.
Titan’s Takeaway: The once-unstoppable housing market is finally showing signs of a slowdown. With mortgage demand slowing, we expect banks to shift their focus away from lending and into other parts of their enterprise less impacted by higher interest rates.
2) FDA to ban Juul from the U.S. market: The FDA is set to remove Juul Labs products from U.S. stores following a two-year review of the vaping juggernaut’s authorization. Juul, which has been under fire for marketing to underage smokers, now will have to look at new markets for its vaping products. The tobacco industry is already confronting a Biden administration looking to lower nicotine levels in all cigarettes.
Titan’s Takeaway: If the FDA bans Juul Lab products from its largest market, it could be the final death blow for the company once poised to disrupt the tobacco industry. Altria Group Inc, which has written down its 35% stake in the vaping company several times, might have to adjust that $1.6 billion stake once again.
3) Twitter unveils long-form content feature: Twitter plans to double its character count from 140 to 280 characters, supporting the company’s desire to support long-form content on its platform. The new feature, called Twitter Notes, allows users to upload media, edit formatting, and create articles.
Titan’s Takeaway: Twitter’s shift to long-form content is more than just a cosmetic change, as the new feature fundamentally changes the once 140-character social media site. With Elon Musk set to take over the social media giant, we expect even more drastic changes in store.
Correction from Wednesday's edition of Three Things: PepsiCo owns Cap'n Crunch, not Kellogg as stated.
Cash Management
© Copyright 2024 Titan Global Capital Management USA LLC. All Rights Reserved.
Titan Global Capital Management USA LLC ("Titan") is an investment adviser registered with the Securities and Exchange Commission (“SEC”). By using this website, you accept and agree to Titan’s Terms of Use and Privacy Policy. Titan’s investment advisory services are available only to residents of the United States in jurisdictions where Titan is registered. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities or investment products. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are hypothetical in nature and may not reflect actual future performance. Account holdings and other information provided are for illustrative purposes only and are not to be considered investment recommendations. The content on this website is for informational purposes only and does not constitute a comprehensive description of Titan’s investment advisory services.
Please refer to Titan's Program Brochure for important additional information. Certain investments are not suitable for all investors. Before investing, you should consider your investment objectives and any fees charged by Titan. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested, including principal. Brokerage services are provided to Titan Clients by Titan Global Technologies LLC and Apex Clearing Corporation, both registered broker-dealers and members of FINRA/SIPC. For more information, visit our disclosures page. You may check the background of these firms by visiting FINRA's BrokerCheck.
Various Registered Investment Company products (“Third Party Funds”) offered by third party fund families and investment companies are made available on the platform. Some of these Third Party Funds are offered through Titan Global Technologies LLC. Other Third Party Funds are offered to advisory clients by Titan. Before investing in such Third Party Funds you should consult the specific supplemental information available for each product. Please refer to Titan's Program Brochure for important additional information. Certain Third Party Funds that are available on Titan’s platform are interval funds. Investments in interval funds are highly speculative and subject to a lack of liquidity that is generally available in other types of investments. Actual investment return and principal value is likely to fluctuate and may depreciate in value when redeemed. Liquidity and distributions are not guaranteed, and are subject to availability at the discretion of the Third Party Fund.
The cash sweep program is made available in coordination with Apex Clearing Corporation through Titan Global Technologies LLC. Please visit www.titan.com/legal for applicable terms and conditions and important disclosures.
Cryptocurrency advisory services are provided by Titan.
Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice.
Contact Titan at support@titan.com. 508 LaGuardia Place NY, NY 10012.