EGX 30: 11,160 (+2.0%) weekly change, (-20.1%) YTD
Traded Value 1W Avg: EGP 756M , (+12.2%) above 90D Avg.
EGP:USD: 15.93 (-0.1%) weekly change
Introducing Egypt’s first unicorn – Fawry!
In the business world a unicorn is a startup that reaches a valuation of USD 1B! And, now Egypt’s first unicorn has finally arrived—Fawry Egyptian e-payments platform. The surge in demand for electronic payments during the COVID-19 pandemic caused Fawry’s stocks to accelerate in recent months reaching more than 300% increase in value since its IPO last year . (Source: Reuters)
Egypt’s unemployment rate up to 9.6% in Q2-2020
Rising to a near two-year high, Egypt’s unemployment rate reached 9.6% in Q2-2020. The rise was on the back of the economic disruption caused by the COVID-19 pandemic and the measures taken by the government to contain the virus. (Source: Reuters)
MENAbytes: Y Combinator-backed Thndr receives first new brokerage license of Egypt in ten years for its Robinhood-like stock trading platform
Thndr wants to make it easy for people to invest in stock, bonds, and funds, without charging them any commission. After receiving the license last week, Thndr has finally opened up for real trading accounts. The users can sign up for a trading account using the app and receive a notification whenever it is approved. Once the account is approved, they can use different methods to start investing in stocks (Source: MENAbytes)
Haven’t filled your account opening form yet?, It’s as easy as 1, 2, 3..
- Download the Thndr app here and signup
- Make sure you have a good internet connection and your National ID at hand
- Go to your invest screen
- Tap the banner at the top of your screen
Epic declares war on Apple & Google
Backstory, Apple & Google take a 30% cut from all in-app purchases. Naturally, many app makers are not very big fans of this, Fortnite makers, Epic included. So, they went ahead and added their own in-app payment option, offering a 20% discount to players who used that instead of App Store & Google Play—therefore, declaring war. To retaliate, Apple & Google expelled Fortnite from their stores! Epic then filed lawsuits against both tech giants and dropped an EPIC video to troll Apple: “Nineteen-Eighty Fortnite.” playing off of iconic Apple’s 1984 themed Ad. (Source: Robinhood Snacks)
After plunging 34% from its Feb. peak, the S&P 500 now soars over 50% wiping out all COVID related losses.
Topic of the Week – Thndr Rules of Investing
Rule # 1 Draw a personal road map & set your goals
No one gets a six pack without a proper plan (we wish, right?) Investment works just the same.
To begin your investment journey, you need to know why you are investing— your goals. And, how much you’ll be investing—your budget.
Rule # 2 Know your risk tolerance, and embrace it!
Like every rollercoaster ride, the higher the fall the more exciting and thrilling the experience. Investment risk and return are the same. The higher the risk you take, the higher the return.
It’s important to know your risk tolerance and prepare to embrace the downfalls if they happen.
When you come to choose an investment, choose one that matches the return you’re looking for, then you have to understand the risk that comes with it. If you’re prepared to take that risk, then the investment matches your risk profile and is a good fit for you.