Top 3 financial stories you don’t want to miss – Twitter CEO quits, Omicron woes, and more!  

forex blog

Top 3 financial stories you don’t want to miss – Twitter CEO quits, Omicron woes, and more!  

The first week of December 2012 has already been marked by turbulent markets. We highlight top stories you should not miss!  

 

  

A new COVID-19 variant, Omicron, has sent global markets crashing in the final week of November and early December 2021. The news of the variant sparked an immediate and extreme response from dozens of countries fearing a fourth wave of the virus, negatively affecting markets.  

It has been a watershed week for social-media giant Twitter; Long-time CEO Jack Dorsey has stepped down, further damaging the company’s stock.  

PayPal, one of the world’s biggest financial services, has experienced a disastrous month as it missed earnings expectations.  

In this article, we highlight the top stories of the week so far.  

  1.  Twitter CEO steps down  

Shares of Twitter (TWTR -2.55%) continue to decline after the social media company announced co-founder Jack Dorsey will step down as CEO. Dorsey will, however, remain a board director until his term ends in 2022. Parag Agrawal, Twitter’s chief technology officer, will replace Dorsey as CEO.  

By December 2, Twitter’s stock price was down -8.23% to $42.82, its lowest level so far, and is down -21.47% YTD. The company, like other social media rivals, has come under fire for controversial practices. Is Twitter a buy considering its drop?  

Well, investor Cathie Wood certainly thinks so as her company ARK Investment Management, already one of the largest shareholders in Twitter, bought about 1.1 million shares of the social media platform. It marks the biggest one-day purchase of stock since July 23.  

CFD trading made easy 

 

  1. PayPal sell-off – once in a decade opportunity  

PayPal has suffered a few terrible weeks, hit by the one-two punch of missing its latest earnings estimate and being downgraded from a “buy” rating to a “hold” by one of the world’s top stock-rating firms. The poor earning’s estimate sparked a mass sell-off of the stock; by December 02, the stock ($179.32) is down 20% over the past month and down -22% YTD.  

As with everything in the stock market, market volatility sparks opportunities and already many are considering whether to buy the dip in PayPal.  

The easiest way to trade commodities 

The company is one of the clear winners of the 2021 Black Friday special; the company reports volume is upon its “buy now, pay later” promotion by 400% YoY. PayPal reports it conducted 750,000 transactions on Nov 26 and added more than 1 million first-time users for a total of 10 million consumers.  

  

  1. Omicron fears cause mass sell-off 

You would think that given that the world will soon enter its third year of the COVID-19 pandemic, global leaders and organizations would have a measured response to possible flare-ups of the virus.  

Get the best trading platform – Metatrader 4 

The new Omicron variant proves this isn’t the case as drastic travel bans and lockdowns have been implemented sending the financial markets reeling. For example – the shares of International Airlines Group, British Airways owner, dropped 15% in the Nov 26 sell-off.  

Trade the biggest markets including Nasdaq  

The oil price suffered a huge drop; WTI Crude is trading at $66.44 (down from $78) while Brent is trading at $70 (down from $82). This will have devastating consequences for an industry already struggling to recoup losses incurred from the disastrous 2020 crash.  

Fortunately, you can trade even when the markets are turbulent. Click here for top advice on how to keep calm under pressure and avoid panic selling.  

 

Bonus Item: CMTrading gives back to the community   

We could not conclude this article without congratulating the talented youngsters forming our Accelerate Futbol social teams in South Africa. These amazing kids, backed by CMTrading, displayed incredible sportsmanship on and off the pitch.  

Read more here  

   

Trade the easy way        

Join CMTrading, the largest and best-performing broker in Africa, and discover more opportunities with an award-winning broker. Register here to get started         

Follow CMTrading on FacebookInstagramLinkedInTwitter, and YouTube. 

   

  

 

 

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on email
Email

Recent .

Microsoft’s huge $69 billion deal makes gaming a serious business
Microsoft’s huge $69 billion deal makes gaming a serious business

Microsoft’s huge $69 billion deal makes gaming a serious business   Microsoft, one of the world’s oldest and biggest tech companies, sealed a staggering $69 …

Read More →
Interest rates are rising
Interest rates are rising – Here’s what it means for traders

Interest rates are rising – Here’s what it means for traders   Interest rates are rising globally and that means major changes for the markets.   The …

Read More →
Dricus
UFC’s Dricus du Plessis, CMTrading extend partnership

UFC’s Dricus du Plessis, CMTrading extend partnership       South African UFC fighter, Dricus du Plessis, will continue his long-standing collaboration with SA’s largest online broker …

Read More →
Market winners: Boeing, Dogecoin, cotton, and more!  

Market winners: Boeing, Dogecoin, cotton, and more!    Boeing takes flight with deliveries of new jets, cotton prices at record highs… it has been an …

Read More →
Top trends traders should watch in 2022
Top trends traders should watch in 2022

Top trends traders should watch in 2022    Stock market jitters, the ongoing pandemic… 2022 is in full swing yet it has a lot in common …

Read More →
Crypto crash wipes $300 billion
Crypto crash wipes $300 billion: What you should do when markets panic

Crypto crash wipes $300 billion: What you should do when markets panic   Bitcoin suffered a disastrous start to 2022; the price of the crypto king …

Read More →
˄