Checking the “LOL” tab... while waiting for BuzzFeed’s first earnings. The 16-year-old digi-media pioneer has evolved from a cat-meme extraordinaire to a Pulitzer winner. But its shares have plunged by half since its December SPAC IPO, as investors doubt the profitability of virality. The company did report a 51% jump in annual revenue ahead of its listing. BuzzFeed is still reliant on third-party sites like Twitter and YouTube for more than two thirds of its audience. We'll see if that dependence has eased when BuzzFeed reports Tuesday.
China’s shutdown... means your iPhone might be delayed. A week ago China locked down Shenzhen. The city is home to Tencent and ships 90% of China’s exports from Apple supplier Foxconn and others, and the shutdown’s weighing on an already strained global supply chain. US-listed Chinese stocks then took their worst tumble since 2008 as investors worried about China’s “zero Covid” strategy and Beijing’s Moscow ties. We’ll see whether Chinese businesses took a hit when US-listed Tencent Music, PetroChina, China Life Insurance, Nio, and China Petroleum report this week.