Edition 360: 3 things investors need to know from last week!
This week, we look at Meta's cloud computing ambitions, Lime's successful IPO, and the latest jobs data pointing to a continued cooling in the U.S. labor market.
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Lime Raises $167M in IPO: Uber-backed Lime raised $167 million in its U.S. IPO after pricing shares at $25 each, reflecting renewed investor appetite for public offerings. The micromobility company is betting on strong demand for shared e-bikes and scooters, despite ongoing profitability challenges and regulatory hurdles.
Source: Reuters
Meta Eyes Cloud Computing Expansion: Meta's stock surged after reports that the company plans to launch a cloud computing business, selling excess data center capacity and AI infrastructure to third-party customers. The move could diversify Meta's revenue beyond advertising while helping monetize its multibillion-dollar AI investments and address investor concerns over heavy spending.
Source: Yahoo Finance
Private Hiring Slows in June: U.S. private employers added 98,000 jobs in June, falling short of economists' expectations of 120,000, according to ADP. The data points to a continued slowdown in hiring, with education and health services driving much of the job growth while broader labor market momentum remains soft.
Source: Yahoo Finance
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