Ant Financial IPO latest: The Chinese central bank summoned Ant executives over the weekend and told them to “rectify” the company’s lending, insurance, and wealth management businesses according to a statement by the People’s Bank of China. While stopping short of any type of breakup of the company, the central bank stressed the need to “understand the necessity of overhauling its business”. Ant was launched in 2004 and is 33% owned by Alibaba.
Jack Ma, and by extension Alibaba, is under immense pressure and scrutiny and was advised by the government to stay in the country, according to Bloomberg News. We talked about Alibaba when this situation first began a month ago.
Last month, China issued draft rules aimed at preventing monopolistic behavior by internet firms, and the Politburo this month vowed to strengthen anti-monopoly efforts in 2021 and rein in “disorderly capital expansion.”
In other news, Alibaba raised its proposed stock repurchase plan from $6bn to now $10bn. Still, we aren’t bullish on Chinese internet giants at this stage with a government telling business leaders, “you are nothing but a cloud.”
Wonder Woman: “Wonder Woman 1984” took in an estimated $36.1mm globally from 42 markets in its weekend release, and $16.7mm domestically in the US. That is compared to the $412.8mm in domestic ticket revenue the first installment of the Wonder Woman series made three years ago.
The movie also debuted on HBO Max on Christmas Day and according to the studio, nearly half of its HBO max retail subscribers viewed the movie on Christmas day. As of October, HBO Max had around 3.6 million direct retail customers.
“Wonder Woman 1984 broke records and exceeded our expectations across all of our key viewing and subscriber metrics in its first 24 hours on the service, and the interest and momentum we’re seeing indicates this will likely continue well beyond the weekend,” said Andy Forssell, executive vice president and general manager, of WarnerMedia’s direct-to-consumer division.
Our take: movie was apparently not great, for AT&T this is an early sign of success with their strategy we talked about (we aren’t convinced it will save the company), for movie theaters it’s too little.
What we’re listening to:
Tweets and Charts we like:
Investing is easy:
Don’t invest in these ‘EV’ companies. If you trade, sure go ahead.
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