The Globe’s stars and dogs for the week
Tesla (DOG)
TSLA-Nasdaq
Think of Elon Musk this holiday season. As advertisers flee, his $44 billion purchase of Twitter looks like a bust. His Tesla stock is in free fall as investors fear he’s dedicating too much time to the social media company. And when he made a surprise appearance on stage with comedian Dave Chappelle in San Francisco this week, Mr. Musk was booed relentlessly. As if that wasn’t humiliating enough, his reign as the world’s richest man ended this week with his Tesla fortune shrinking by the day, according to Forbes’ real-time billionaires list. We feel your pain, Elon.
Pinterest (STAR)
PINS—NYSE
How many times have you spent all day looking online for recipes, beauty tips, or home decor ideas only to come up empty-handed? Well, now you can find all of those things and more thanks to Pinterest. This is where people come to “pin” articles like “40 Christmas Snack Ideas” or “6 Striking Plants Safe for Homes with Cats.” Advertisers like Pinterest because it targets people who love to shop. Investors are also pleased after Piper Sandler upgraded the shares to “overweight,” citing Pinterest’s social media market share gains. I just posted something if you’re interested: “5 Christmas Tree Decorations to Make from Used Dental Floss.” You won’t find tips like this anywhere else.
Modern (STAR)
MRNA – Nasdaq
Business Quiz! Moderna’s stock soared after the company a) received an order from the Chinese government to vaccinate all 1.4 billion of its citizens, “because let’s face it, the bad west is better in this COVID-19 vaccine stuff than us”; b) received a takeover bid from Elon Musk, who plans to use Moderna’s biotechnology to clone himself so he can spend more time tweeting; c) announced promising results from a Phase 2 study of an mRNA cancer vaccine that, when combined with Merck’s drug Keytruda, reduced the risk of melanoma death or recurrence by 44 percent compared to Keytruda alone. Answer: c.
TransAlta Renewable Energies (DOG)
RNW TSX
The wind seems to be either too strong or not strong enough for TransAlta Renewables. Last year, a turbine at its New Brunswick wind farm collapsed, prompting the company to close the site while the foundations of all 50 towers were replaced. Mother Nature was at work again in TransAlta’s most recent quarter when results were negatively impacted by “less than expected wind resources.” Then came more bad news this week: Citing rising interest rates and increasing competition for acquisitions, the company plans to use most of its available cash to maintain its dividend in 2023, “which inherently limits the amount of capital it can raise.” it can allocate growth opportunities. ” With some analysts predicting an eventual dividend cut, investors are turning in the wind.
Waterloo Brewery (STAR)
WBR TSX
Waterloo Brewing shareholders are unsure whether to say “cheers” or cry in their beers. Ontario-based craft brewer — formerly known as Brick Brewing Co. — had traded as high as $8 in June 2021. However, the stock subsequently fell flat, and this week the company agreed to sell itself to Danish brewer Carlsberg Group for $144 million, or $4 a share. Well, that’s at least a 19.4 percent premium to Waterloo Brewing’s closing price before the deal was announced. You could say Waterloo’s beer glass is half full.
