Y'ello Shares for Sale

Good Morning?

How are you doing??

Welcome to this week’s edition of 4 Customs Street, our weekly newsletter on the stock market.?

The newsletter is divided into two:?

• Green White Green—focused on the Nigerian stock market.?
• Star-Spangled Banner—focused on the US stock market.?

Green White Green Last Week?

It was a rocky week for stocks as the All-Share Index fell by 2.63%. The index measures the average performance of stocks on the exchange. Some stocks will do better than the index. Some stocks will do worse than the index.?

NEM Insurance was the best-performing stock last week. It gained 18.42% closing at ?2.25.?

UPDC (UAC Property Development Company) led last week’s losers. The stock fell by 24.43%, closing at ?0.99.?

Y’ello?

MTN Nigeria last week kicked off its public offer. Her parent company, the MTN Group, is offering for sale 575 million shares to retail investors at ?169.

The minimum subscription is 20 shares and then in multiples of 20 thereafter. It also includes a sweetener of 1 free share for every 20 shares bought, subject to a maximum of 250 shares per investor. To qualify for those shares, investors will have to hold them for at least one year after they have been allotted.?

The offer opened at 8 am on December 1, 2021 and will close by 5 pm on December 14, 2021. It is also marking history as it is the first offer to be delivered via a digital platform.?www.primaryofferng.com ?

Bye Bye Mangal?

Oando Plc announced Dahiru Mangal, a key shareholder, had sold his entire shareholding amounting to?1,968,452,614 shares. Mangal had a few years ago been involved in a back-and-forth with the management of the company over the running of the firm. He sold his stake to Leaf Investment & Realtors Limited.?

Green White Green This Week?

Nigerian Enamelware Company will be holding its Annual General Meeting (AGM) on December 9, 2021.?

Star-Spangled Banner Last Week?

It was a rough week for US stocks, due to fears of Jerome Powell hiking interest rates. In an appearance before the US Congress, he essentially stated that the current inflation rate is no longer transitory.?

The S&P 500 index fell by 1.22%. The Dow fell by 0.91%. The NASDAQ composite index fell the hardest; it dropped by 2.62%.?

Twitter co-founder and CEO Jack Dorsey announced he would be resigning from his position as CEO. Square, another company he is the CEO of, was renamed Block, in reference to the blockchain.?

Draftkings stock took a pounding last Friday, following news of Jim Chanos taking a short position. A short is a bet that you expect a stock price to drop further. Chanos decided to take this position due to the company’s high marketing spend and his belief the stock was overvalued.?

Star-Spangled Banner This Week?

MongoDB, Campbell Soup, GameStop, Lululemon Athletica will be releasing their earnings during the week.?

Earnings from Chewy, Costco and Oracle will drop during the week as well.?

Away from stocks, all eyes will be on the inflation figures for the month of November, which will be released on Friday. Expectations are for it to inch much higher. If that happens, there will be pressure on the Fed (the US central bank) to increase rates much earlier.?

Did you find this newsletter useful? Please feel free to share it. You can read?previous newsletters here

Do you have any questions? You can send an e-mail to?[email protected] ?or send a DM to any of our social media channels.?