Impressive was the debut of Volvo Cars on the Stock Market, After celebrating its Initial Public Offering (IPO), which by the way was the largest in Europe in the year, its shares rose 22% on Friday on the Stockholm Stock Exchange, given the plans of car manufacturers regarding a future tied to electricity.
The Gothenburg-based company downsized its IPO and listed it at the bottom of a range previously announced last week, valuing it at just over $ 18 billion and making it the second-largest IPO in Sweden until the date.
But the strong market reaction, which raised its valuation to roughly $ 22 billion, is a boost for a European auto industry that has embarked on a challenging transition to electric vehicles.
It also shows that while the euphoria over Initial Public Offerings in the first half of 2021 is over, the market is open to new IPOs of companies that are attractive.
Microsoft, The global software giant closed the stock market up 2.2% on Friday, making it the world’s most valuable public company with a market capitalization higher than Apple’s.
Microsoft’s capitalization value rose to $ 2.49 trillion, adding to a 6% gain in the previous two sessions that followed the company early last week, which posted better-than-expected results during the third quarter of 2021, thanks to the good performance of its business in the cloud.
Apple, on the other hand, suffered a drop of 1.8% after a report below expectations and with signs of affectation related to the global semiconductor crisis and supplies in general.
The Californian company closed with a capitalization of $ 2.46 trillion on Friday.
What a controversy after the change of the Facebook brand to Meta PlatformsThe search for a new acronym for the FAANG group of growth companies, which also includes Apple, Amazon.com, Netflix and Alphabet, has already begun. The options could be MAANG? SLEEVE? OR MAMATA?
Facebook announced Thursday that it will now be called Meta Platforms, just as the social media company is focusing on building an ambitious “metaverse,” a shared virtual environment.
The name change also follows a damaging complaint and criticism from lawmakers and regulators about its market power. The most popular tip on Twitter for the tech heavyweight group is MAANG, where the “F” in FAANG is replaced by the “M”. Some users also rearranged the letters to form MANGA, referring to Japanese comics.
FAANG elite stocks have a combined market capitalization of $ 7.416 trillion so far this year, up from $ 5.8 trillion last year. Several Twitter users also proposed to reorganize the group to add Microsoft – which competes with Apple to be the most valuable company listed in the United States – as well as Tesla, which has joined the elite trillion-dollar club. of market value last week.
With the name change of Facebook, some users came up with MAMATA, which would bypass Netflix, which has the lowest market capitalization compared to the rest of the group, at $ 299 billion, and would use an “A” for Alphabet, whose search engine Google gave the FAANG their “G”.
Arca Continental, The second largest Coca-Cola bottling company in Latin America, launched its new distribution center located in Monclova, Coahuila, where it invested 216 million pesos and which will allow it to serve that region of the country more efficiently.
The center has an area of 5.2 hectares and 10,660 square meters of construction, as well as a capacity to store 7,000 pallets of merchandise and 97 tons of product in refrigeration.
The investment announcement comes amid a more encouraging outlook and a quick recovery of sales volumes to pre-pandemic levels for the company, which recently attributed that its sales volume was impacted by the pandemic in both the United States and Mexico.
The new distribution center, which in April planned to allocate 6% of its income to capital investments in 2021, will directly employ 340 employees.
Reference-www.eleconomista.com.mx