Heading into a new trading week, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend.
1. Twitter Revamps Under New CEO: Twitter Inc.’s TWTR new CEO Parag Agrawal has reorganized the company’s management team in his first week at the company’s helm. Twitter, which is shifting to a General Manager model, said in a regulatory filing that engineering lead Michael Montano as well as design and research lead Dantley Davis will step down from their positions at the end of the year.
2. Randi Zuckerberg Says Shiba Inu Has Become Mainstream: Randi Zuckerberg, sister of Meta Platforms Inc. FB CEO Mark Zuckerberg, has said that Shiba Inu SHIB/USD, the self-described “Dogecoin DOGE/USD-killer,” has gone mainstream. In a video published on her official YouTube channel, Randi also added that she believes both Shiba Inu and Dogecoin have an opportunity to grow despite their rivalry.
3. Alibaba Reorganizes Amid Headwinds: Chinese e-commerce giant Alibaba Group Holding Limited BABA has replaced its long-standing CFO and announced a reorganization of its e-commerce business into two new units. The Jack Ma-founded company, which was the first among major Chinese tech companies to feel the pinch from a regulatory crackdown by Beijing last year, said its deputy chief financial officer Toby Xu will succeed Maggie Wu as CFO from April next year.
4. Bitcoin, Altcoins Trade Weak After “Bloody Saturday”: Bitcoin BTC/USD and other major cryptocurrencies continued to trade weak on Sunday evening after a “bloody Saturday” sell-off due to fear surrounding a hike in interest rates and the Omicron variant of the COVID-19 virus. Bitcoin was down 2.3% during the last 24 hours, trading at $48,303.99 at press time early Monday.
5. Elon Musk’s Wealth Drops $15B Amid Market Sell-Off: The net worth of Tesla Inc. TSLA CEO Elon Musk -- the world’s richest person -- fell by $15.2 billion on Friday as shares of Tesla and other tech companies tumbled amid a broader market selloff following a discouraging November jobs report coupled with concerns surrounding the coronavirus omicron variant.
What Else: Among other stories from the weekend, investors would want to check out the EV week in review, the ten weirdest Beatles covers of all time, how Walt Disney Co. DIS continued to dominate the U.S. box office, and news that Cathie-Wood led Ark Invest sold more shares in Tesla while loading up on shares in DocuSign Inc. DOCU on Friday.
Meanwhile, CNN, a division of AT&T Inc.’s T WarnerMedia, has fired Chris Cuomo following the revelations of how the primetime anchor helped his brother and former New York Gov. Andrew Cuomo respond to sexual harassment accusations.
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