Episode 28: Microsoft talks TikTok and SpaceX Wins.
Hello Pandocap family, Happy Monday. I hope everyone had a nice weekend and I am still up here in beautiful Lake Tahoe.
As we kick off August there are several items that are impacting this week's market movement which includes Europe and China’s recovery and we continue to follow the stimulus package on how it will help the US economic rebound.
ADT stock price skyrockets 100% as Google takes a 6.6% stake in ADT. It will help combine Google's Nest hardware services and its technology to ADT’s.
Microsoft said that it will explore a purchase of popular social media platform TikTok that could be the biggest save as it was considered being banned over the weekend by the US administration. Some of the measures that Microsoft would take is to ensure that all private data of TikTok’s American users is transferred and remains in the US.
Congratulations to SpaceX on the historic accomplishment of getting our astronauts Doug and Bob back safely. The next steps are to plan another flight where they will be increasing personnel to four astronauts and head out on another mission. As space valuations become a focus, Virgin Galactic, another tourist space business model will report earnings today. We will see how this will scale and how the tourism business will play out into our journey into space.
The markets closed up today.
Dow up closing at 26,664
S&P up closing at 3,294
Nasdaq up closing at another record high of 10,902
IPO
We continue to see the activity on the IPO market as we have confidential filings form Affirm led by PayPal mafia Founder Max Levchin and another filing coming from GoodRX, a drug comparison engine. Ones to watch this week that will go public are:
Rackspace Technology (RXT) - San Antonio, TX
Deal Size: $754 mil Exchange: Nasdaq
Lead Underwriter: Goldman Sachs
BigCommerce Holdings (BIGC) - Austin, TX
Deal Size: $198 mil Exchange: Nasdaq
Lead Underwriter: Morgan Stanley
Both coming out of Texas way to go.
We will be launching our interview with Mitzi Madrid Diaz on Friday. Also, stay tuned to our very exciting developments on next month's Hispanic Heritage events. Thank You!