Exec Sum

The daily newsletter that curates major news spanning Wall Street to Silicon Valley, with a touch of humor and memes. Read by investment bankers, institutional investors, venture capitalists, and more.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent

Credit Suisse burning the paper trail

Snowflake's stock price melted after their earnings report, Credit Suisse is trying to hide its prior loans to Russian oligarchs backed by yachts / private jets, oil blew past $110 per barrel, Jeep is building electric SUVs, Abramovich is selling his Chelsea stake and donating the proceeds to war victims, US bans Russian planes from US airspace, Fanatics is now worth $27B, and Amazon is closing its retail stores.

⛽️ $110+ Oil ⛽️

Oil broke through $110 (two years after Cathie Wood said it was going to $12), stocks were down and crypto was up, a Russian convoy is approaching Kyiv, Target and SoFi crushed earnings, the summer intern market is heating up, MLB opening day is canceled, the luxury car cargo ship sank, and it seems like every American company is halting sales in Russia.

The Great Russian Pullout

Bank runs have started in Russia while US citizens are advised to leave the country (shocker), Lucid tanked after investors realized a company shouldn't be worth $500M per car delivered, TikTok is introducing longer videos, Russia destroyed the world's biggest plane (RIP), and Shell is dumping its Russian oil stakes.

Robux > Rubles

Stocks went green despite Russia's invasion, the ruble is worth less than Robux, NY is ending school mask mandates, Apple may launch a cheap iPhone, MLB opening day might be delayed, More countries are banning Russian flights, and Ukraine's government has raised more than $10M in crypto.

Turnaround Thursday

Stocks rallied hard in the afternoon as investors realized that it literally can't get any worse, Russia's stock market got drilled, Elon and Kimbal Musk are having problems with the SEC, Biden and the West roll out heavy sanctions against Russia, Ukraine's official Twitter account is winning the internet, Beyond Meat had terrible earnings, And Ken Griffin is pulling out of his Melvin Capital investment.