Barclays Plots Cost Reduction

And, equity crowdfunding 2023 review.

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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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

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.

Trends to Watch

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