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Highlights of the day: 21 June

March 4, 2024
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FinMeUp
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FinMeUp

FinMeUp highlights of the day

 

South Africa

Share buybacks

  • Glencore PLC: repurchased 1,330,000 shares 
  • British American Tobacco: repurchased 520,000 shares

Labat Africa

  • South Africas first ethically-approved cannabis clinical trials, the Pharma Ethics Observational Study, have kicked off and are gaining traction.
  • The projects aim is to test whether cannabis can replace opioids in the management of chronic pain.
  • The pilot results of the study were very promising, as it showed 98% of the patients have some sort of pain relief from cannabis.
  • Dr Gallow said that Once we reach the sample size required and all of the relevant data has been collated, the results of the study will be published. We have currently renewed this study for another year, due to the initial slow uptake of research participants.

 

U.S.

ARK Innovation ETF

  • The largest holding in Cathie Wood's Ark Innovation ETF is currently Zoom with a market value of $792.7M.
  • The second-largest holding is Tesla at $657.4M.
  • Third is Roku at $626.1M.

Tencent

  • Tencent has formed a new "Extended Reality" business unit.
  • The division will reportedly have over 300 employees and will be in charge of building up software and hardware for extended reality.

Meta

  • Meta Reality Labs division has revealed new prototypes in its roadmap toward the Metaverse codenamed Butterscotch, Starburst, Holocake 2, and Mirror Lake.

Warren Buffett

  • A lunch with Warren Buffett just sold to an anonymous bidder for $19 Million.
  • This is the last year Buffett will be doing his annual lunch for charity.

Tesla

  • Tesla is now up to producing 1 000 EVs per week at its Giga Berlin factory.

Paramount

  • Top Gun: Maverick has now brought in $800M at the global box office making it the highest-grossing film in Tom Cruises career.

Kelloggs

  • Kelloggs have announced its plans to separate into 3 independent companies.
  • It will spin off its US, Canadian, and Caribbean cereal and plant-based businesses.

Apple

  • Apple is reportedly introducing new tech in iOS 16 to let you skip CAPTCHAs.
  • The new automatic verification setting will verify you as a human to a website or an app without filling out a CAPTCHA.

DocuSign

  • DocuSign have announced CEO Dan Springer will leave his role as CEO.
  • The company has appointed board chair Mary Wilderootter as interim CEO.

 

Biggest winners and losers

JSE

  • Kumba +6.89%
  • PSG Konsult -6.57%

US

  • Nvidia +5.72%
  • JD.com -3.04%

Crypto

  • Bitcoin +3.4%
  • Ethereum +3.7%
  • Shiba Inu +27.8%

 

 

 

 


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