Bites of the Week #3, Zuck Is A F***ing Savage!
Bites of the Week: Spider Man Takes Down The Competition | Debt Limit Takes Down Stock Short Sellers and Makes a Millionaire | Zuckerberg Takes Down Opponents | Powell Needs to Take Down More Banks
There are quick, tasty news bites every week that may not make it into the weekly newsletter. Bites of the Week shares those interesting stories we should care about in shorter form. We could share positive vibes, financial bloopers, or things a tad more serious.
Spider-Man Has Mega Opening
I just spoke to a fellow parent about the Spider-Man Spider-Verse series when dropping my kid off at daycare. I am not sure who was more excited about the movie….the parent or the kid. Viewers can’t get enough. “Spider-Man: Across the Spider-Verse” opened in U.S. and Canadian theaters with a massive $120.5 million! This is 3x verse the original opening in a world where less people go to movies.
As a reminder the first movie, Spider-Man: Into the Spider-Verse, was the first Marvel superhero film to win an Oscar.
💡Our Thoughts: In today’s world, more than ever, people need superheroes.
Someone Front Ran the Debt Limit & Made $4 Million
Insider trading never gets old. As part of the debt limit, the US government greenlighted the 300-mile Mountain Valley natural gas pipeline. This is something Sen Manchin had been pushing for and snuck in with the bill. It happens, legislators sneak in bills on larger legislation at the last minute.
Analysts expected some random legislation breadcrumbs to be thrown in. The legislation was last minute and barely made it through. Many were surprised. But one mystery trader seems to have known everything that was happening and made $4 million!
Days before the debt agreement and pipeline add-on were announced, a huge bullish bet was made on Equitrans Midstream Corp. Using options, a mystery bought the equivalent of 10,000,000 shares. After the debt deal was announced, shares popped 35%.
💡Our Thoughts: A tale as old as time. There will always be insiders.
Meta Mat Magic
Mark Zuckerberg the martial artist! Joe Rogan called out Mark’s savage performance and training on the jiujitsu mat. Mark dominates on the mat as much as he dominates in the boardroom. And has a camera crew to capture the perfect moments as he won a gold and silver at a major jiujitsu competition.
💡Our Thoughts: This world was full of surprises. Mark might be the first CEO of a public company to win a jiujitsu competition! Late 30s is not a time when most people START competing in jiujitsu. As we said before, more and more, age is just a number.
The Banks Aren’t Losing Enough Money!
Why can’t the economy just crash already?! The International Monetary Fund has yet to see enough banks pulling back on lending after Fed rate hikes. What is wrong with a healthy economy. Why Georgieva, the IMF’s Managing Director, care so much?
“We don’t yet see a significant slowdown in lending. There is some, but not on the scale that would lead to the Fed stepping back,” the IMF’s Managing Director Kristalina Georgieva told CNBC’s Karen Tso Saturday in Dubrovnik, Croatia.
Thanks. The Fed has done enough. We don’t need to crush the economy anymore for some random IMF checklist.
💡Our Thoughts: People seem obsessed with finding a recession. Let the US work through its own economy without help from the IMF.