A few random thoughts to blow off steamThanks Co2 for the info about the ARKK buying. I'm not sure if the info makes me feel more or less stupid.
The fact that AMZN is going after SHOP tells me that SHOP poses a real threat to AMZN. All SHOP needs to do to justify its previous high is to grab 1% or 2% of the market share, which AMZN obviously thinks is possible. I for one would love to see a Canadian company give AMZN a kick in the pants. AMZN will certainly get vendors to take a look at their new offering, but if SHOP completes the deal with Deliverr or somebody else, SHOP will become a serioius competitor to AMZN. Hence Cathie Wood's interest in SHOP at current prices.
I have to wonder if this afternoon was the start of the next round of stock Armageddon or whether it was just another head fake orchestrated by the power dealers on Wall St. to create volatility and volume, which despite what they claim, is their primary objective. It is not as if the street isn't fully aware of pending interest rate hikes, Russia, etc. The DOW futures are currently down triple figures early, but that can change in a hurry. Tomorrow and then Monday should give us a better indication of a "now or later" policy made downturn.
I also wonder if the politicians are actually aware that oil has been too cheap for too long. Even at today's crazy gasoline prices, you can still buy a litre of gas for far less than a one litre bottle of Smart Water. Europe and the USA have been taking advantage of OPEC for decades to provide cheap fuel. When Europe and the USA starting marching out their new agenda to wean themselves off oil and gas, the politicians got involved and we are seeing the effects. I expect that it is going to take years for the current mess to clean itself up. At some point oil will not be able to hold the world hostage, but by then, I expect Suncor will have paid out the mortgages of my 5 kids. If the market tanks, I will just buy more Suncor, not houses thank God.
Speaking of Smart Water, the water bottles seen in the hands of pipeline and oil protesters would probably hate to learn that they are an ecological dumpster fire. The water undergoes distillation (to remove contaminants but also the healthy minerals naturally occuring in water) and electrolysis (to make it alkaline) which both require a significant amount of electricity. And then you have to deal with the ecological cost of creating the plastic bottle and its disposal. But I digress.
Maybe the world should be encouraging energy efficient innovation instead of having companies buy out the innovators with hush money. My cousin was a brainiac who was hired by Ballard Power about 30 years ago. The company was able to create hydrogen for cars that would deliver more than 100 miles to the gallon in those days. What happened to the amazing discovery? Eight different automotive companies each paid Ballard $500 million for the technology, which they stashed in a drawer. My cousin and a few others got rich, but the rest of us have been paying for it ever since. If the company that I'm helping gets offered billions by anyone intending on hiding their incredible technology, I will strongy oppose. I will get out-voted for sure, but I will make sure the world knows all about what the technology is capable of rather than seeing it buried.