Wow, so the markets took a turn for the worst suddenly, funny how things just suddenly go south so quick, and I love it. It just went sour and lol just last month I was talking about how I’m not interested in buying anything… mhhhhhh… I am suddenly reconsidering my strategy.
Half of the S&P 500 is hitting their 52 week low or are down for the year. Materials, technology, some consumer goods, and financials are feeling the worst from this sell off.
Last month: May 2019
In the name of philanthropy, Cintas donated 30,000 garments last month to the salvation army in Canada. The donation is said to be valued at $3 million. Those said garments are to be located in 107 different salvation army stores across Canada.
Cintas also reached a 52 week high since May 21st, but has since tumbled over US trade worries with China and Mexico. White house, congress, get your shit together and stop making the markets free fall.
Visa acquires Control of Earthport last month, the company is in charge of doing global payment services to banks and is the largest private ACH. What is an ACH? Well, it stands for Automated Clearing House which is a network that coordinates electronic payments. Just how you send $20 to someone via Venmo, except at a global scale, less efficient, and more costly. However, with this purchase Visa made, they anticipate that ACH’s will clear faster and money gets sent and received faster at an international scale.
Alexandria Ocasio-Cortez and Bernie Sanders were talking nonsense, bullshit, and rubbish on how credit card companies should have a cap on the interest rate. In their piece of legislation, they would cap it at 15%. I’m having a stroke just writing this, I FEEL THE URGE TO TALK ABOUT THIS IN A SEPARATE ARTICLE AND I WILL. Anyway, this would ultimately be bad for Visa’s business, next story.
JPMorgan chase and Visa team up to create cards that can be utilized in New York City subways and buses. If you are a Chase customer and have a contactless card, you’re in luck because starting as of now, you can utilize it to get around certain NYC train stations and bus stops.
Lastly, Visa continues sponsoring the US Womens soccer team for the world cup.
I hate hate HATE viewing news for Apple, mainly because publishers and the media know that the company always has eyes on them, and so they create news stories and articles out their ass to rake in views and meanwhile I’m just here like “let me just see some interesting stories I can summarize and LEAVE.”
Anyway, Apple pay is said to also work with the sensors found in NYC subways and public transit.
Apple is facing Antitrust issues due to the app store being deemed as a monopoly or giving priority to Apples own apps (such as maps, apple music, facetime, etc.) over other apps that compete against Apples apps. Long story short, Apple was found guilty and is changing the app store experience.
Apple, as well as other big tech companies, have all written a statement to UK parliament saying that under no circumstances will they allow the government to have access to messages and chat conversations.
As Apple music and Apple TV are brought into the spotlight, there is some speculation that Apple might just get rid of itunes entirely, a good stunt on their part as it forces users to purchase a monthly subscription to either of these services, rather than paying for a song, movie, etc. and not have that client buy anything for a long time. It’s smart, it’s great cashflow, there is always income coming in at the end of the month.
Amex revamps their Blue cash preferred card and adds extra perks onto their new cardholders and existing cardholders. 6% cash back on groceries and select steaming services, 3% cashback on gas purchases and transit costs (tolls, parking, rideshare, etc.) and 1% cashback on everything else.
American Express is acquiring Resy, an application used to make reservations at restaurants, restaurant owners can also use Resy to better manage inventory, arrival times for clients, etc. Amex as of lately has been quietly been acquiring apps for reservations specifically in the restaurant business.
Amex heard the news that JPMorgan Chase and Visa are working to make contactless payments through the NYC subway systems and public transportation. (We have plenty of waffle on the whole NYC subway being more efficient.) So American express rebuttals. Starting now, as well, you can use contactless Amex cards in certain stations and bus rides, and come July 2019, Amex will issue every new card as contactless which means… I’m getting a new American Express credit card come July because that’s pretty fucking cool.
Since Squares big mistake on investing in Eventbrite (idiots) Square is finally doing and pulling some smart stunts. It teamed up with Postmates in a delivery partnership. You can use Squares intelligent technology that processes payments for small business owners that would like to use Postmates.
Square is the biggest marketing genius of the 21st century in the financial sector, in which it spends only $20 per customer to acquire a new cash app user. In comparison to credit card companies and banks who spend hundreds to captivate new clients. As of now, Cash app gives $5 to every new user and $5 to those who were referred. PayPal’s venmo on the other hand, has no such incentive. Furthermore, cash card has given users the ability to earn discounts or cash back on purchases from certain retailers, while the money does come out of Squares revenues, it can potentially be a source of profit for the future.
Okay, whatever, 19.something% YTD, I’ll take it over the S&P.