MARKET RECAP → The S&P 500 (VOO) closed slightly higher Thursday as it clocked in a new all time high.
BOLT BLUNDER ALERT → 🔧 Boeing (BA) nudges airlines for a quick bolt check on 737 Max, ensuring a smooth flight ahead with minimal turbulence in operations or stock dips!
AFFIRM ASCENDS →🚀 Affirm’s (AFRM) stock quintupled, defying gravity and skeptics alike; it’s not just riding the ‘buy now, pay later’ wave but shaping it, amidst a sea of Goliaths and regulatory sharks.
Head of Investor Relations @ MoneyLion
🔧 Safety First for 737 Max: Boeing (BA) has called for airlines to inspect their 737 Max planes for a “possible loose bolt” in the rudder control system, a precaution sparked by routine maintenance findings. This move, affecting the manufacturer’s bestseller, is the latest in a series of quality checks aimed at ensuring the safety and reliability of these jets.
✈️ Quick Checks, Minimal Disruption: The recommended inspections are estimated to take about two hours per plane, with Boeing ensuring all new 737 Max aircraft are checked before delivery. Major airlines like Alaska, United, and American Airlines have begun the process, anticipating no significant operational impact, thereby minimizing disruption while prioritizing safety.
📉 Market Reaction Subdued: Despite the precautionary measures, Boeing’s shares dipped slightly in response to the news. The industry’s quick and comprehensive response reflects a commitment to safety and a desire to maintain trust in the 737 Max, following previous challenges with the model.
🚀 Affirm’s Phenomenal Rally: A year that began with gloom ended in unexpected triumph for Affirm (AFRM). The company’s stock soared by 430%, outshining all U.S. tech firms valued over $5 billion. This surge was fueled by a rebound in the ‘buy now, pay later’ (BNPL) sector, expanded partnerships, notably with Amazon (AMZN), and a general market recovery from doomsday fears.
📈 BNPL’s Growing Appeal: Affirm’s journey wasn’t just about stock numbers; it was a testament to the rising popularity and strategic importance of BNPL services. Retailers and consumers alike embraced the installment payment model, leading to a proliferation of merchant partnerships and a significant increase in BNPL transactions, especially during peak shopping periods like Cyber Monday.
🌐 Strategic Shifts and Future Prospects: Despite a remarkable recovery, Affirm navigates a competitive landscape filled with financial Goliaths. The company is not just expanding its user base but also diversifying its offerings, eyeing international markets, and enhancing its
China’s Xiaomi unveils its first EV as it looks to compete with Porsche, Tesla (CNBC)
Cars are losing their value at a slower rate (CNBC)
Gas prices will fall in 2024 and Americans will spend $32 billion less on fuel, GasBuddy predicts (CNN)
Steve Ballmer is set to make $1 billion a year for doing nothing (CNN)
British startups should be kept on home soil, says top bank boss, claiming U.S. buyers are getting all the glory with none of the risk (Fortune)
Frustration mounts as investors await returns on Gen Z metaverse sensation Roblox: ‘2024 is going to be a crucial year’ (Fortune)
The New York Times sues OpenAI and Microsoft for copyright infringement (Mashable)
Amazon plans to make its own hydrogen to power vehicles (The Verge)
And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. (MoneyLife)
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