Good evening college entrepreneurs,
This week’s news will be for March 14 – March 21 (8 days, not 7), and next week we will back to publishing Weekly News on Thursdays, like usual.
And also, since it’s that time of year, I’m here to remind you that your chances of making a perfect March Madness bracket are less than slim. 1 in 2.4 trillion at best, but somewhere between that and 9.2 quintillion.
That out of the way, here’s the news.
Unfortunately it’s the nature of media to massively-cover tragic events. There’s probably no way you missed this.
An Australian, white supremacist terrorist went on a shooting spree targeting New Zealand mosques. 49 people were killed, including children. The terrorist broadcast the whole attack over Facebook live. The video was taken down, but not before the internet got ahold of it…
In the wake of the attack, New Zealand is planning a sweeping ban on firearms.
An all new episode of stuff I didn’t know you could buy stock in… Futbol clubs!
Since last year when Juventus picked-up Ronaldo, their stock price has doubled. In a game against Atletico this week, Juventus was down 2 goals. That was only until Ronaldo scored 3 goals to overturn the score and win the game.
During the game, Juventus stock jumped nearly 30%. Then it stabilized and ended the day with a 17% gain.
Aurora Cannabis hired billionaire investor Nelson Peltz as an advisor amidst their growing operations (Pun definitely intended). The news caused Aurora’s stock to jump 14%.
There’s a catch though. Aurora has given Peltz a stock option to purchase 20 million shares at $7.74 per share (Below current value). If he exercises the option, he will become the company’s 2nd largest shareholder, which comes with a lot of voting power.
The terms of the deal have not been disclosed, but Canopy said that the amount was “not material” given their current cash situation.
AgriNext is a company that deals mostly in the CBD and Hemp sectors of the industry. Canopy growth already has its foot in cannabis, but it appears they want to expand into hemp as well. Reportedly, the company is investing between 100 and 500 million in the expansion.
For its IPO, Lyft is considering using a dual class stock system. In a system like that, there is a stock for managers and a separate normal stock. The shares designated for managers get 20 votes while the normal shares only get one.
This approach is typical for publicly held companies still led by their founders. It allows them to assume most of the control of the company, but puts regular stockholders at a disadvantage.
The argument against the idea is that stockholders should have a voice in the use of their money. However, that doesn’t make it easy for founders to want to relinquish control. Currently, they’re facing pushback from some investors for the plan.
You might have Levi’s jeans on right now. Might as well get the stock to match.
Levi’s IPO started at $17 per share, was valued at 6.6 billion USD, and surged throughout the day. The stock ultimately closed 31% higher than it started, with a total valuation of 8.7 billion USD.
Chief executive Chip Bergh told BBC this about the IPO:
“I don’t feel like my job is done. I came here to get this company turned around, to make the Levi’s brand what it was when I was a kid, back the way I remembered it. There’s still a lot of work ahead of us”
-Chip Bergh, Levi’s
By the way, if all of this talk about stocks has you curious about investing… check this out and learn how to get started.
AAA did a study among US drivers and found that about 3 in 4 Americans (71 percent, exactly) are scared of being on the road with self-driving vehicles.
Generally, this would just be a statistic, and wouldn’t effect whether or not automation becomes reality. Here, that is not the case. U.S regulators recently announced that they’ll be asking the public about their opinion of self-driving vehicles before making decisions.