The company announced a plan to cut about 23% of its workforce against a weak trading environment, worsened by a drastic collapse in crypto trading. This comes after the company had initially announced a 9% haircut in headcount at the start of the year.
The CEO took responsibility for the pain as he had miscalculated the trading environment. It was thought that the trading mania due to crypto and the Gamestop saga is likely to be a long-term trend instead of a blink in an eye.
⛳Paypal: Finally Some Glow🗽
The stock rose sharply after its promising second-quarter results. The earnings top analysts’ expectations and announced a $15 billion share repurchase authorization. There are also some management changes as the transformation of its business beyond the eBay era continued.
Pika World continued to hold the stock as part of our investment portfolio.
🧸Airbnb: Top estimate but not sufficient🧸
While the result was promising, investors’ appetite grew more prominent throughout the year. Thus, the stock is sharply lower after-hours despite a stock authorization buyback of $2 billion.
Still, the company is projecting an optimistic short-term view of its business as it moves into a strong travel season. It still expects growth in gross booking value growth for the third quarter.
Pika World is not expecting an entry despite a sharp falling price.
🧨Match: Meh, result💊
The online dating operator stock fell sharply as earnings were shy of estimates. Also, its important dating site, Tinder’s CEO will be leaving. It appears that online dating has not reached its pre-covid level.
While the company still sees an opportunity, the CEO has noticed some trends in consumer behaviour, such that people have moved beyond lockdowns and shifted into a more typical lifestyle.
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