July 20, 2020 
What we're talking about this week:
Earnings are out 📈📉
Netflix drops 12% 🤯
and more!

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Big Banks™
summed up: Last week, big US banks reported their second-quarter earnings.

Increased trading helped investment banks make some good announcements last week.  With interest rates at historic lows, investors have jumped into the market and traded more than expected... and the Big Banks made phaaaaat commissions off the increased market activity. For banks like Bank of America, Wells Fargo, and Citigroup, this quarter's reports seem to end on a positive note. (Key word: seem).

What's the ☕?

The high-revenue reports pushed aside some valuable information... the banks cut $35B from their profits to cover for potential missed loan payments. This means... banks are bracing themselves for a bad economy. They just aren't sure how bad it's going to get. *deep breaths*

Read more here.

stay informed.

Netflix??? U good?
summed up: Netflix announced that they aren't sure they'll be able to keep up the growth.

Explain plz...
Remember the early days of COVID? Back when Tiger King memes were funny and life would definitely be back to normal by summer 💯? Things have definitely changed. Since then, Netflix has been THRIVING by welcoming 10M new subscribers, seeing 25% higher revenue than last year, and their stock has rising by 75%. Despite all that growth, Netflix shares dropped last week by 12%. 

What happened? 
Netflix isn't sure if it will be able to keep up that same level of growth. This projection disappointed investors and led to a drop in share prices.

What do the Big Banks say?
UBS, a Swiss investment bank, agrees with Netflix's projections. Considering the company already has 180M users in 200 countries, UBS believes it will only become harder for Netflix to grow. 

BUUUT, as always, there's ☕! Goldman Sachs believes we should keep betting on Netflix's growth. The American bank believes Netflix still has room for growth in Europe and South America. All that to say.... does anyone ever truly know what's going on? 

Read more here
In other news...

Elon Musk, Bill Gates, Joe Biden and 130+ more got hacked.

Google is betting $10B on India. 

Johnson & Johnson is doing realllllly well. 

WeWork is on its way to being profitable by 2021.

 a quick note.

The 2020 election will be the most influential election of our lives. PLEASE make sure you are registered to vote. If you're already registered, join us in adopting a swing state!

Let us know if  you have any questions, comments, or concerns. We're here for ya :) 

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xo the root (aka ilana + eve)

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The Root is here to keep ya woke, informed, and invested 🤑
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