Amazon's EV army

Plus, lowest housing affordability since '89

19 Oct

*past 24-hour performance

  • Forced-sale due to Chinese state ties: The state of Arkansas has ordered Syngenta to sell 160 acres of farmland in the U.S. state within two years because the company is Chinese-owned. Syngenta was bought for $43 billion by ChemChina in 2017 and folded into Sinochem Holdings Corp in 2021. (Reuters)

  • US single-family starts rise: U.S. single-family homebuilding rebounded in September, boosted by demand for new construction amid an acute housing shortage; Applications for loans to purchase a home plunged to levels last seen in 1995 (Reuters)

  • More wild housing data: The NAR Housing Affordability Index clocked in at 91.7 in August, down from 93.9 in July (where anything below 100 indicates a household with a median income doesn't earn enough to be approved for a mortgage on a median-priced home). This was the lowest reading since 1989. (Epoch Times)

  • Netflix’s blowout quarter: Netflix (NFLX) beat Wall Street expectations for profit ($8.54 billion) and user growth (9 million new subs) during the Q3, sending its stock surging as the streaming giant rolled out another price increase. (Hollywood Reporter)

  • Overstock activism: Hedge fund JAT Capital is urging Overstock (OSTK) to consider selling certain assets and overhauling its management and compensation after taking a 9.1% stake in the company. Shares climbed 9% on the news. (Yahoo)

  • Amazon hits EV milestone: Amazon (AMZN) says it now has 10,000 of its vehicles co-created with Rivian (RIVN) on roads in the U.S. covering 1,800 cities. The fleet, launched last summer, is now double the size that it was in July. (Axios)

  • Another major oil deal: Devon Energy (DVN), an Oklahoma City-based oil and gas company, is studying major acquisition targets such as with Marathon (MRO) as it seeks to gain scale in US shale (Bloomberg)

  • Morgan Stanley’s worst day in 3 years: Though earnings and revenue topped expectations, revenue in the investment banking division declined 27% year over year; Advisory fee revenues were down 35% (CNBC)

  • Tesla earnings hit speed bump: Tesla’s (TSLA) profit tumbled 44% in the third quarter as the impact of steep price cuts across the company’s lineup continued to take a toll on the electric-car maker’s bottom line (Axios)

Gold vs. bitcoin: Whether it’s the demise of fiat currencies, or from war, or recession, or [enter stupid government decision here], we highly suggest hedging your portfolio. And while there will be major debates on the best way to do so, here is the amazing thing… you don’t actually have to choose one or the other. Read more »

What you need to earn to own a home in 50 American cities: Once a fundamental part of the American dream, the ability to own a home is drifting farther and farther away for many Americans. Read more »

The myth of the Great Boomer Wealth Transfer: Boomers are rolling in financial assets. But they’re probably going to spend all their savings before they can pass anything down to their children. Read more »

  • Fiat news in the fog of war (Epsilon Theory)

  • Real-Estate commissions could be the next fee on the chopping block (WSJ)

  • US real estate brokers' commission system faces DOJ antitrust risk (Bloomberg)

  • Lessons from the false BTC ETF report (CoinSnacks)

  • Putin and Xi get closer (Semafor)

Thunderclap Research is a professional investment research firm focused on understanding and profiting from market anomalies.

We take both a quantitative and qualitative approach to research and focus extensively on strategies for established money managers and everyday retail investors.

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