It’s beautiful weather here in the northeastern United States as the unofficial end of summer nears. I hope everyone is enjoying the long weekend. Here’s today’s newsletter.
MEDIA: TikTok Competitors
With the possibility that popular videosharing app TikTok could be banned from the United States, TikTok’s competitors appear to be benefiting. (Click here to read an excellent summary behind TikTok’s potential ban in the United States.)
According to data from Sensor Tower, a research firm that tracks the global app economy, TikTok’s main competitors accounted for 44% video sharing app downloads in August, up from 24% in January.
TikTok still holds a commanding 56% of downloads in August, but it trails its high this year of 88% of downloads it captured in March, according to data from Sensor Tower.
Pink's Bottom LineTikTok remains a powerhouse, but other apps, notably Likee and Triller, are slowly becoming more popular.
Big tech companies have also entered the fray, including new, potentially competitive offerings from Instagram and Snapchat. (News reports also say that one of a handful of major US companies could buy TikTok’s US operations from its owner, China’s ByteDance.)
The ultimate fate of TikTok — and its potential implications for a myriad of US companies — will be fascinating to see unfold.
MONEY: Tesla Not Added to the S&P 500
On Friday night, S&P Dow Jones Indices, the company that chooses the stocks that make up the benchmark S&P 500 index, changed the composition of that index.
According to a press release from S&P Dow Jones Indices, gone from the S&P 500 are: Coty, H&R Block and Kohl’s. Added to the index are: Catalent, Etsy and Teradyne.
Missing from inclusion in the S&P 500? Tesla.
Pink's Bottom LineWhen stocks get added to or removed from an index like the S&P 500, index funds will change their composition of stock holdings accordingly to match the performance of the index it tracks. That adds potentially new demand for stocks are newly included in the S&P 500.
I’ll watch Tesla stock closely over the next few months to see what impact, if any, the lack of inclusion in the S&P 500 might have on the company’s stock price.
Tesla's share price did fall in after-hours trading Friday following the news that the stock would not be included in the S&P 500.
SPORTS: Baseball's Emerging Star
If you’re a baseball fan, you probably know all about Fernando Tatis, Jr., the 21 year old shortstop for the San Diego Padres.
If you’ve never heard of him, you soon will.
According to Major League Baseball stats, Tatis, Jr. has hit more home runs in his first 40 games than any other player age 21 or younger in baseball history.
Tatis, Jr. has hit 15 homers during his first 40 games, ahead of both Eddie Matthews and Albert Pujols, who each hit 14 at age 21 or younger.
Pink's Bottom LineWhile Tatis, Jr. truly is a remarkable player, he also has something that few players in baseball today have: star power.
Tatis, Jr. has a big personality, is incredibly fun to watch play and, most importantly, he could potentially create some much needed buzz for major league baseball.
Right now, the Padres appear very likely to make the playoffs. As such, look for Tatis, Jr. to emerge as a superstar as soon as next month’s postseason in baseball.
Jeremy Pink is former CEO of Broadcast Sports International and a former CNBC executive in New York, London and Singapore. He currently serves as an advisor to companies in media, sports and financial tech.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.