Hong Kong Standard (April 10)
“The share price of Tianrui (1252), China’s ninth largest cement manufacturer, “slumped 99 percent in the 15 minutes before the market closed yesterday,” creating a penny stock. The “free fall…also slashed the company’s market capitalization to just HK$141 million from HK$14.6 billion – meaning HK$1 billion evaporated every minute.”
Tags: Cement manufacturer, China, Free fall, Market, Market-cap, Penny stock, Share price, Slashed, Slumped, Tianrui
Financial Times (February 22)
“The benchmark Nikkei 225 index finally broke through its “iron coffin lid” to surpass its long-standing record 1989 closing price of 38,915 points, which was set when 15 of the world’s largest companies by market cap were Japanese. “The Nikkei has risen 16.6 per cent since the start of the year, making it the world’s best-performing major index, as a falling yen lures foreign investors” and strengthens the performance of exporters.”
Tags: 1989, 38, 915 points, Benchmark, Best-performing, Falling yen, Foreign investors, Index, Japan, Market-cap, Nikkei 225, Performance, Record, Surpass
MarketWatch (January 24)
“Megacap technology stocks have retaken leadership of the U.S. stock market as the S&P 500 continues to hit new record highs, defying hopes on Wall Street for a more broad-based rally.” Since January 1, “the so-called Magnificent Seven have gained a combined $540.7 billion in market capitalization, compared with a total market-cap gain of $802.5 billion for the S&P 500 SPX through Tuesday’s close.”
Tags: $540.7 billion, Broad-based, Magnificent Seven, Market-cap, Megacap, Rally, Record highs, S&P 500 SPX, Stock market, Stocks, Technology, U.S., Wall Street
Seeking Alpha (May 7)
“Berkshire Hathaway holds $130 billion in cash. That is over 18% of the company’s market cap. Clearly, management is not confident in the near term outlook of U.S. equity markets” in light of “the increasing preponderance of data that supports lower growth and lower earnings. The U.S. has certainly experienced an incredible period of growth and profits over the last 3 years. That phase is coming to an end.”
Tags: $130 billion, Berkshire Hathaway, Cash, Confident, Data, Earnings, Equity markets, Lower growth, Management, Market-cap, Near term, Outlook, Profits, U.S.
Forbes (April 27)
“The market capitalization of LVMH, the company chaired by the world’s richest person Bernard Arnault” reached $498 billion Thursday morning, surpassing “that of Tesla, the firm led by the world’s second-richest person Elon Musk.” The move came “as Arnault’s lead on Musk as the richest man extends to over $70 billion.”
Tags: $498 billion, $70 billion, Arnault, Chair, LVMH, Market-cap, Musk, Richest, Tesla
Economic Times (January 23)
Big Tech’s “planned rightsizing is… unlikely to make up for the deep correction in 2022 of technology companies’ stock prices. Earnings estimates for the last quarter of 2022 are grim and Big Tech may have to go in for more job cuts to keep market capitalisation aloft. This could be a theme for the industry in 2023.”
Tags: 2022, 2023, Big tech, Deep correction, Earnings, Estimates, Grim, Job cuts, Market-cap, Rightsizing, Stock prices, Technology, Unlikely
CNN (February 3)
“Meta Platforms, the company formerly known as Facebook, just had its worst trading day in its history as a public company,” dropping $240 billion or 26% of its market cap. “The eye-popping drop in value is a reminder of just how massive the tech giant really is. Meta’s market cap has now declined by an amount that is greater than the total valuation of most public companies.”
Tags: $240 billion, Drop, Eye-popping, Facebook, Giant, Market-cap, Massive, Meta Platforms, Tech, Trading, Value, Worst
Financial Times (November 25)
“Tesla’s market value has surged to $500bn after a fresh wave of buying ahead of the electric-car maker’s debut on the blue-chip S&P 500 stock index next month.” Up over 600% this year, shares yesterday rose to $540. “Tesla’s market cap now exceeds “Toyota, Volkswagen, Hyundai, General Motors and Ford combined.”
Tags: Blue-chip, Buying, Debut, Electric car, GM, Hyundai, Market-cap, S&P 500, Surged, Tesla, Toyota, Value, Volkswagen
Forbes (October 29)
“Zoom is now worth more than ExxonMobil.” Reaching a market cap of $139 billion, the conferencing service pulled ahead of ExxonMobil ($138.9 billion). Revenues are an altogether different matter. “While Zoom posted $1.35 billion in revenue over the past 12 months, Exxon, by comparison, posted $213.8 billion in revenue during that time period.”
Tags: Conferencing, ExxonMobil, Market-cap, Revenues, Service, Zoom
Wall Street Journal (November 8)
“The world’s most valuable public company just made more history.” Shares in Apple “rose 0.8% Wednesday to close at a new all-time high of $176.24, giving the iPhone maker a market value of $904.9 billion.” The advance makes Apple “the first U.S. company to reach the $900 billion threshold, having already become the first to hit $800 billion.”
Tags: All-time high, Apple, History, iPhone, Market-cap, Shares, U.S., Valuable
