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- ๐ Family Dollar closed 1000 stores
๐ Family Dollar closed 1000 stores
๐ While inflation hit three-year lows
Portlandโs airport is one of over โ2,200 mass timber projectsโ in the US. Mass timber is a rapidly growing new construction method that is cheaper, easier to work with, more environmentally friendly, and just plain looks cooler.
Yesterday, Stefan dove into how you can invest in the wood of the future.
Stripper wells are oil or gas wells that produce smaller quantities of oil or gas.
Large oil companies often overlook them due to the smaller scale of production. Despite their low output, stripper wells can still be quite profitable โ especially when oil prices are elevated (like right now)
Pytheas Energy uses AI to revitalize these wells, transform them into efficient producers, and generate cash at a fraction of the cost of larger oil projects.
How it works:
Acquire underperforming wells for cheap: Pytheas acquires these wells at a very low cost per well, taking advantage of undervalued assets in areas like the Permian Basin and the Bakken Basin.
Improve production efficiency: Pytheas leverages AI and machine learning to analyze and optimize well operations. By making the wells more efficient, Pytheas can increase production without increasing operating costs.
Generate consistent cash flow: Once the wells are optimized, they produce a steady amount of oil or gas daily. This production generates predictable cash flow, similar to the steady returns from a real estate investment, where rent is paid out over time.
Scale up: While each stripper well produces a smaller amount, Pytheas builds a portfolio of these wells to generate significant overall production. This can create substantial revenue streams.
Sell oil at market prices: The oil extracted from these wells is sold at market prices, which, given current projections, is expected to remain elevated at around $90-$94 per barrel in 2024.
Learn more:
Clicking the button will:
Take you to Pytheas' investment page on Equifund
Give Pytheas permission to email you
To learn more about Pytheas without giving permission to email, โclick hereโ.
๐ฐ Market Headlines
September jobs report takes center stage as stocks hover near record highs and inflation cools.
The S&P 500 and Dow Jones rose about 0.7% for the week, with the S&P 500 notching several record closes.
Economists expect 130,000 jobs added in September, with unemployment at 4.2%. Kalshi expects 142,000.
US annual inflation plummeted to 2.2% in August, its lowest level since February 2021.
SpaceX launched a rescue mission for two NASA astronauts stranded at the International Space Station.
California Governor Gavin Newsom vetoed a controversial AI safety bill, citing concerns over its limited scope.
๐ถ๏ธ Market Vibes
๐ฐ Market Forecasts and Futures
๐ฑ Fear and Greed Index
๐ค What you said last time
What you had to say:
โ*peekingโ
๐ Trends you need to know
Cruise ships have got waaaaay bigger over the last 100 years. Check out an even crazier graphic that wouldnโt fit in the newsletter.
๐ง What do you think?
Carnival reports earnings today. At 384m in length, its Celebration cost over $1 billion to build.
The Carnival Celebration is an example of |
๐ Stocks
Get $20 free shares at โpublic.comโ using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
You know the drill: another week, another round of earnings:
Market movers
Family Dollar closed nearly 1,000 stores out of its 8,200, impacting low-income areas.
OpenAI made plans to raise ChatGPT Plus subscription prices from $20 to $22 per month by year-end.
Spotify experienced a temporary outage affecting over 40,000 users.
Meta unveiled its Orion smart glasses prototype, aiming to replace smartphones with AR technology.
WordPress.org temporarily lifted its ban on WP Engine until October 1, following a dispute over trademarks and ecosystem contributions.
More layoffs:
Activision Blizzard laid off nearly 400 people in its mobile gaming divisions in California.
Disney cut another 300 jobs, primarily in corporate roles, as part of its 8,000 job elimination target.
Ideas, trends, and analysis
20% of small businesses face severe cash flow crunches.
US office vacancy rates hit a record high.
Social Security recipients can expect a 2.5% COLA for 2025, translating to about $48 more per month for the average retiree.
๐ Global Perspectives
๐ฎ๐ฑ๐พ๐ช Israel bombed Houthi targets in Yemen, killing at least four people and wounding 29 in response to missile attacks on Israel.
๐ณ๐ต The death toll from flooding and landslides in Nepal reached at least 100, with dozens still missing.
๐ช๐ธ Around 48 migrants went missing and nine were found dead after their boat sank near Spain's Canary Islands.
๐ท๐บ๐บ๐ฆ Russia pounded Ukraine's Zaporizhzhia city with 13 guided bombs, injuring at least 16 people and damaging infrastructure.
๐ฎ๐ณ A major fire disrupted production at a key Tata Electronics plant in India that makes iPhone components, with at least 10 people receiving medical treatment.
๐น๐ผ๐จ๐ณ Taiwan's Defence Ministry went on alert after detecting "multiple waves" of missile firing deep in inland China.
๐ Crypto
FTX set aside $230 million for shareholders from government forfeiture proceeds.
Former Binance CEO Changpeng Zhao was released from custody two days earlier than expected.
Guggenheim issued $20 million worth of tokenized commercial paper on Ethereum.
Mango DAO and Blockworks Foundation settled SEC charges for $700,000.
๐ง Errata
Earth's getting a temporary mini-moon for two months.
A chemical plant fire in Georgia sparked evacuations and closed I-20, sending plumes of chemicals skyward.
Swiss researchers created a robotic hand that can detach and crawl to grab objects.
Koalas are popping up in weird places around Brisbane, from power poles to schools.
๐บ What to Watch Today
Thatโs all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
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