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Barclays Plots Cost Reduction

Barclays Plots Cost Reduction

And, equity crowdfunding 2023 review.

Barclays icon in 3D. My 3D work may be seen in the section titled "3D Render."

Photo by Rubaitul Azad on Unsplash

Today is Friday, November 24, 2023.

The Early Bird Index today is 60.26.

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Barclays Plots Cost Reduction

Barclays (NYSE: BCS) is reportedly trying to lift its profitability by slashing jobs.

Details: A Reuters report on Thursday said that Barclays is aiming to save as much as $1.25 billion by cutting as many as 2,000 jobs. Barclays has not commented on the report.

Background: The report comes as the banking giant has tried to cut its expenses in recent years by reducing payments such as bonuses.

Stock Price: Barclays is down 11% in 2023, but up about 8% in the last 30 days.

Final Thoughts: Weaker financial results and analyst downgrades have derailed Barclays in 2023. It’s been an awful year for many bank stocks.

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Notables

Notable Earnings Today: H World Group (Nasdaq: HTHT).

Notable IPOs Today: New Mountain Finance Corporation 8.250% Notes due 2028 (Nasdaq: NMFCZ).

Notable Equity Crowdfunding Campaigns Ending Today: Peaceful Arts Ales and Lagers (Mainvest), Demolition Brewing Company (Mainvest).

Notable Economic Events Today: S&P Global Services PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), S&P Global US Manufacturing PMI (9:45 a.m. ET).

Equity Crowdfunding 2023 Review

Photo by Andre Taissin on Unsplash

Here’s a look at how investments involving equity crowdfunding have performed in 2023, according to data compiled by the online private market rating and analytics platform KingsCrowd.

Definition: Equity crowdfunding is a way for the average investor (yes, you!) to invest in startups through online platforms. Funds are used to purchase equity stakes or debt-based investments in early-stage companies.

Platforms: While there are about a dozen platforms that investors can use for equity crowdfunding, three of those platforms reign supreme. Wefunder, Dalmore Group, and StartEngine account for two-thirds of all equity and debt crowdfunding since 2022. And if you include the platform Republic, all four platforms account for 80% of equity and debt crowdfunding.

Lower: Some startups that raise funds through equity crowdfunding experience successful exits (ka-ching) and some fail. A few also raise funds multiple times. In 2023, about 20 startups raised funds at a lower valuation than the previous round. Five of those experienced a valuation drop of more than 50%.

Winners: The top equity crowdfunding deals for 2023 included $63 million for the mass production building system Boxabl, $50 million for the animated feature film Slingshot USA, and $33 million for Phoenix Capital Group.

Final Thoughts: While equity crowdfunding is an opportunity to make money, it can also be a risky investment. Startups fail all the time, and when they do, investors can lose everything.

Uniswap Jumps on Thanksgiving

Uniswap jumped 6% on Thursday, surpassing most other popular cryptocurrencies.

Background: The move comes after the introduction of a new governance proposal aimed at improving conditions for underrepresented delegates who use the Uniswap system.

Price: Uniswap’s price is up by 46% in the last 30 days.

Final Thoughts: Despite a volatile few weeks for crypto, Uniswap is doing well, although it can be an untrustworthy investment at times.