Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money.

69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

  • Updates
  • china tech
  • e commerce
  • metaverse
  • social media

5 Top Stories

Shein Files for IPO; Meituan Sales Jump; Reddit Explores Listing

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Shein Surprise

China’s Shein confidentially filed for an IPO in the US on Monday, enlisting Goldman Sachs [GS], JPMorgan [JPM] and Morgan Stanley [MS] as the lead underwriters in an offering that values the fashion retailer at $66bn. Shein, known for its economically priced workout clothes, is expected to go public in 2024, reported Reuters.

Meituan: From Strength to Strength

Chinese giant Meituan [MPNGF] has reported its third profitable quarter in a row, boosted by resurgent travel demand, even as growth slowed for its core delivery business. Sales were up 22% to RMB76.5bn, while net income nearly tripled, to RMB3.6bn. Nevertheless, Chief Financial Officer Chen Shaohui anticipated that order volumes would drop this quarter.

2024 IPO for Reddit?

Social media platform Reddit is once again in talks with potential investors, with Bloomberg reporting that the San Francisco-based firm could seek to IPO as early as the first quarter of next year. There is speculation around several other IPOs, among them Microsoft [MSFT]-backed Rubrik, a cloud and data security start-up, and Kim Kardashian’s Skims clothing label, which was valued at $4bn over the summer.

Meta in Hot Water

A US judge has blocked Meta’s [META] attempt to take the Federal Trade Commission to court over revisions to its privacy settlement; Meta shares fell as much as 1.2% on the news Monday. The Wall Street Journal has said tests found that Instagram’s Reels function served up disturbingly salacious content. Lastly, advocacy group NOYB has filed a complaint with the Austrian regulator over Meta’s subscription service, saying it was equivalent to paying a fee to guarantee privacy.

iRobot Drops 17% on Amazon Warning

Amazon [AMZN] is set to launch its palm-scanning technology beyond its current scope as a payment tool, and is pitching the service to companies as a form of security enhancement. Despite rumours to the contrary, the European Commission warned the e-commerce giant on Monday that its proposed $1.4bn acquisition of Roomba-maker iRobot [IRBT] could be nixed due to antitrust issues. IRobot shares dropped 17% on the news.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

Continue reading for FREE

Latest articles