Friday Money Mate — 22 Jan 2021
Joe Biden tapped in, Joe Exotic missed out, Netflix surged and the price of Bitcoin plummeted.
Newly-sworn in President Biden prompted a market rally on Wall Street, which helped the ASX jump 1.27% this week.
Not so great for the other Joe — Joe Exotic that is — who missed out on one of Donald Trump’s pardons.
Lil Wayne, former Trump advisor Steve Bannon and ex-Google engineer Anthony Levandowski all made the cut. Trump, and his family, didn’t.
The week as a chart
S&P/ASX 200
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Tyro strikes back
Payments platform Tyro hit back at short-seller Viceroy Research over claims relating to its mass outage — triggering a rebound in its share price to AUD$2.54 at Friday close.
In local data, retail sales dropped 4.2% in December, while Australia’s unemployment rate decreased 0.2 percentage points to 6.6 per cent- its lowest level since April.
In crypto news, Bitcoin plummeted to below US$30,000 this week after US Treasury Secretary Janet Yellen warned about the illegal use of the cryptocurrency.
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Netflix shares soar as streaming service captures 3% of world’s population
- More than 200 million subscribers globally.
- Now generating free cash, considering buybacks.
- The streaming giant has a market cap of US$250 billion.
When Netflix released its latest quarterly earnings this week, the share price pop was considerable with the world’s largest streaming service gaining 17% at Tuesday close to finish at $US584.
Subscriber numbers exceed 200 million globally (3% of the world’s population has Netflix) and cap a stellar run for the group that first exceeded 100 million subscribers in 2017.
The doubling of users has taken place over three years, whereas arriving at 100 million took seven years.
Netflix, despite intense competition from the likes of Amazon, Apple and Disney, maintains a dominant position within its industry vertical and is now a major production house.
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