Instacart IPO, Lost F-35 and Hedging Against Energy Stocks

Author

Anna Eisenberg
September 18, 2023

Anna's Daybreak News

Good morning news aficionados! Brace yourself for a rollercoaster ride through the latest headlines, intriguing stories, and eye-opening insights that'll keep you hooked from start to finish. 📰🌟

Hedge Funds Hedge Their Bets in Energy Stocks
The market is turning bearish on energy stocks, as hedge funds have increased their short bets and triggered a decrease in energy stock prices. Goldman Sachs reported that last week hedge funds sold energy stocks for the first time in three weeks, despite a rally in oil prices.
  • Hedge funds sold energy stocks last week, causing a decrease in energy stock prices.

  • Goldman Sachs, one of the biggest providers of trading services to investors, said hedge funds are underweight energy stocks.

  • China's sluggish post-pandemic economic recovery has raised concerns that demand may slow down.

  • Though news of increased supply cuts could push oil prices higher, hedge funds seem to be betting on the opposite.
    • Source: Read More

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Instacart Reaches New High with IPO: Grocery Delivery Company Soars to $9.9 Billion Valuation!
The San Francisco-based online grocery delivery company Instacart made headlines this week as it sold 22 million shares for $30 each in its initial public offering. Attracting a range of investors, the company raised $660 million and, as a result, has a current market capitalization of $9.9 billion.
  • Instacart priced its IPO at the top of their marketed range to raise $660 million.

  • The company sold 22 million shares for $30 each, attracting a wide range of investors.

  • The IPO follows the successful market debut of chip designer Arm Holdings Plc, whose stocks rose 25%.

  • With a current market capitalization of $9.9 billion, Instacart's IPO is a sign that investors are cooked up and ready to feast on tech stocks
    • Source: Read More
Canadian Prime Minister Justin Trudeau Accuses Indian Government Of Killing Canadian Citizen
Canadian Prime Minister Justin Trudeau made a shocking accusation at the House of Commons on Monday, claiming agents of the Indian government killed a Canadian Sikh community leader, Hardeep Singh Nijjar, in June. This will likely escalate already tense relations between the two countries.
  • Nijjar, a Canadian citizen, was a leader of a movement that advocated for the creation of an independent Sikh nation called Khalistan, that would be made through the secession of part of India's Punjab state.

  • India had declared him a wanted terrorist, and the Khalistan movement is banned in India.

  • Trudeau stated his accusation was based on intelligence gathered by the Canadian government, with plans to pressure the Indian government to cooperate with a Canadian investigation.

  • The accusation, and tensions between the two countries, come after the Canadian government expelled a top Indian diplomat it suspected had ties to Nijjar's killing.
    • Source: Read More
US Marines Pause Flights as They Prepare to Hunt Down Lost F-35 Fighter Jet

  • The chief of the US Marines ordered a pause in air operations to review safety and best practices as the military continued its search for a missing F-35 fighter jet.

  • The pilot ejected and went to the hospital in stable condition, but the $100 million aircraft still remains missing.

  • The pause comes on the back of 3 'Class A' mishaps in the last 6 weeks, two of which resulted in fatalities.

  • The Marines are determined to put an end to this open-ended search, with General Eric Smith calling on the public to help them take this majestic F-35 off the "most wanted" list.
    • Source : Read More

Baked with love,

Anna Eisenberg ❤️

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