barbecue, hamburger, food-3419713.jpg

Today in the Market (5/25/2023)

Good Evening! On Thursday, the stock market experienced a mixed performance due to the significant increase in Nvidia’s stock price, which led to a surge in the technology sector. However, concerns regarding the debt ceiling persisted and affected market sentiment.

The S&P 500 and Dow Jones experienced distinct movements, with the first index increasing by 0.88% and the second decreasing by 0.11%. The Nasdaq Composite saw the biggest surge by 1.71% due to its reliance on technology.

AND YOU'RE OUT

Nikola (NKLA) is facing the possibility of delisting from the Nasdaq Composite after experiencing a significant decline in its stock value, despite its initial success during the early stages of the pandemic. On Thursday, the electric truck manufacturer’s shares reached a record low of 60 cents per share.

How does a company stay on the Nasdaq? According to the company, they have received a letter from Nasdaq notifying them that Nikola is not meeting the minimum bid price requirements with the shares having consistently closed at a value below $1 for a period of 30 consecutive business days. To restore compliance, the company is required to maintain a minimum closing share price of $1.00 for a period of no less than 10 consecutive business days, and the deadline for this task is November 20, 2023.

How did Nikola get here? The current scenario of elevated interest rates and a constricted credit market has made the process of securing funding tougher for startups that require substantial capital investment. They did try by making a public announcement in late March regarding a common stock offering valued at $100 million, with each share priced at $1.12. However, the stock experienced a significant decline of up to 18% following the announcement.

THE TEMPERATURE IS RISING AND SO IS PRICES

barbecue, hamburger, food-3419713.jpg

The prices of popular BBQ items such as hot dogs, potato chips, and hamburger buns are expected to increase during the upcoming holiday weekend. According to the Bureau of Labor Statistics, the April Consumer Price Index (CPI) increased by 4.9% in April compared to the same period in the previous year. In the last month, the cost of groceries increased by 7.1%. Let’s break down the increase in prices:

  • The prices of hot dogs and poultry have increased by 2.2% and 5.0% respectively on a year-over-year basis.
  • Spices, seasonings, condiments, and sauces: Consumer product goods companies such as Kraft Heinz (KHC) are expected to increase prices, resulting in a 10.3% year-over-year increase in costs.
  • Hot dog and hamburger buns: Annually, bakery product prices have increased by 12.9%, primarily due to a 14.3% rise in the cost of white bread.

Looking towards the weekend. Expect a rise in the total amount spent on groceries regardless of what you purchase most for the Memorial Day BBQ. Stay Safe!

Scroll to Top

Where Are You On Your Investment Journey?

Rise

Run

Relax

All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.

 

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?