In this week’s recap, the global stock markets ended lower as the US inflation rate reaches 40 year high. EU building up strategic reserves for chemical, biological, and radio-nuclear emergencies. Union mobilized the medical reserve unit to procure potassium iodide tablets. Biden Food Shortages continues with Walgreens Rationing Baby Formula.
Twitter shares soared +27.12% Monday to $49.97, with a market cap of $31.47B, after filings revealed that Tesla CEO Elon Musk had purchased a 9.2% stake in the social network. Musk’s 73,486,938 shares make him Twitter’s largest shareholder & were valued at $2.89B. It is just a fraction of the world’s richest man’s $273B fortune, leading to investor speculation that he will be further increasing his stake in the company. Shares of Twitter are now up +15.62% in 2022. The stock is still down -25.42% year on year. Tesla’s shares were up +5.61% at 1,145.45 on Monday, with a market cap of $1.12T. The stock has rallied from $800 to $1,100 in recent weeks & appears set to extend its gains.
Ukrainian President Zelenskyy is accusing Russian forces of committing genocide, saying Ukrainian people were being destroyed & exterminated. His comments came in the aftermath of the reported devastation in Bucha, a town 23 miles northwest of the capital city of Kyiv, that has been liberated by Ukrainian forces. Ukraine’s top prosecutor has stated that 410 bodies were found in towns recaptured from retreating Russian forces near Kyiv, as part of an investigation into possible war crimes.
Fed officials agree on double roll off of balance sheet; Viktor Orban clinches a 4th consecutive term in power; HP Inc’s reached a record high; EU approved 5th round restrictive measures against Russia; Finland and Sweden now considering joining NATO; some 16,000 foreign fighters have flocked to Ukraine to fight Russia; research at the Babraham Institute has developed a method to time jump human skin cells by 30 years, turning back the aging clock for cells, without losing their specialized function.