Some Un-Bili-vable China News

Okay, you probably will believe today’s China news. But that title was too good not to use, so let us have this one. 🤷

With unrest among China’s citizens continuing, there’s a lot to keep up with. 📰

The broader news item is that the protests and disruption to its economy have gotten the government’s attention. As a result, speculation is that many of the harsh covid-19 containment measures implemented will be relaxed.

That sent Chinese stocks soaring today. However, many remain skeptical because these rumors have been flying back and forth for weeks, saying they’ll believe it when they see it.

Video-sharing website Bilibili reported earnings and revenues that topped estimates. 💪

Average daily active users rose 25% YoY to 90.3 million, with monthly active users increasing 25% to 332.6 million. Average monthly paying users rose 19% to 28.5 million. 

Like other tech companies, it’s rationalizing its costs and is taking initiatives to accelerate its monetization. The earnings beat and rumors of lockdown rules easing sent $BILI shares rising 22%.

Meanwhile, e-commerce solutions provider Baozun dropped despite beating earnings and revenue expectations.

The company reported adjusted earnings of $0.03 per share vs. the $0.02 expected. And revenues of $244.8 million beat estimates of $244 million. 👍

Like its peers, the company is prioritizing cost optimization and efficiency. These efforts drove higher product sales gross margin, lower operating expenses, and better operating cash flows.

With that said, $BZUN shares faded after an initial pop, closing down 3.60%. 🔻

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Today In Tech – 01/23/23

Today’s headlines were filled with tech names. We’ll curate the biggest stories so you’re fully up to speed. 📰

First, we’re starting with layoff news. Spotify is the latest tech company to announce it’s trimming its workforce by 6% as it looks to cut costs. The CEO said in a blog post, “Over the last few months, we’ve made a considerable effort to rein in costs, but it simply hasn’t been enough.” and “I was too ambitious in investing ahead of our revenue growth.” 

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Approaching Q1’s End

The days are short, but the quarters are long. And this first quarter has felt like a year of action in and of itself. So as we head into Q1’s last week of trading, we thought it’d make sense to check how the various asset classes are performing. 📆

Below is a chart of ETFs tracking stocks, bonds, commodities, and currencies at a high level. 👇

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We’ve Seen This Movie Before

$AMC ending 2022 in a Hollywood-style dramatic, climactic collapse. 🎭

Today, AMC made a new 58-week low, returning to where it was trading in early February 2021. 

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Tesla’s Battery Close To Dead

If something hurts more than a goat’s backside after grazing in a ghost pepper patch, $TSLA‘s monthly chart is probably it. 🔥 🌶️

The two worst months in Tesla’s history are December 2010 (-24.62%) and May 2019 (-22.43%). Unless something dramatic happens, December 2022 will handily beat both of those months. 

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