A humorous look at the companies that caught our eye, for better or worse, this week
Wouldn’t the world be a better place if we could get through a single day – just one – without hearing the name “Elon Musk”? Well, don’t hold your breath. Not content with being the richest person on Earth, the Tesla chief executive officer and self-described “free speech absolutist” now has his sights on Twitter. After acquiring a 9.2-per-cent stake and a board seat at the social-media platform, Mr. Musk – who has more than 80 million Twitter followers – is expected to push for changes to Twitter’s content moderation policies. This from a megabillionaire who throws a tantrum when people use free speech to criticize his companies.
The company is called Dave Inc., so, naturally, you might think it’s run by a guy named … Dave. Nope. His name is Jason. Anyway, Dave – which says its name reflects “the finance version of David vs. Goliath” – operates a digital banking app that offers overdraft protection, interest-free cash advances and budgeting tools. Come to think of it, investors could probably use a loan now that the money-losing business is trading for less than half of its February high after it went public in January via a special-purpose acquisition company. Don’t complain to Dave. There is no Dave.
You’ve got the private jet. Congratulations. Now, if only you had stable WiFi while you’re flying to a meeting in the Cayman Islands or hopping over to St. Andrews for a round of golf. Maybe you should call the experts at Gogo. Shares of the company – which bills itself as the largest provider of broadband internet services to the business-jet market – jumped to a nearly seven-year high after it was added to the S&P SmallCap 600 Index. Investors are streaming old episodes of Lifestyles of the Rich and Famous at 35,000 feet.
Sprinkler: a device that sprays water on a lawn. Sprinklr: a company that showered investors with money this week. Shares of Sprinklr – which makes “customer experience management” software for applications such as live chats and social-media marketing – rose after fourth-quarter revenue soared 30 per cent and the company’s full-year sales forecast topped expectations. Given that the stock is still down by nearly half from its 2021 high, however, investors must feel like they’ve taken a bath.
It’s cleaner than fossil fuels, more reliable than wind or solar power, and it has an excellent safety record despite the fears of politicians and the public. Now, with Russia’s invasion of Ukraine putting the focus on energy security, nuclear power may be poised for a revival. Shares of uranium miners, including Cameco, have been surging as the price of the reactor fuel trades at its highest since the Fukushima nuclear accident of 2011 – an incident that put a chill on the sector even though it didn’t result in a single death from acute radiation poisoning. There is one drawback of nuclear power, however: It’s hard for some people to pronounce. (It’s noo-klee-er, not noo-kya-ler.)
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