Musk presses pause, Vodafone downgraded, Coinbase slumps and meme stocks rally…

1. Elon Musk puts Twitter takeover on hold

The social media platform reported that 229mln users were served advertising in the first quarter, according to a regulatory filing made to the Securities and Exchange Commission (SEC). 

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2. Vodafone downgraded ahead of results

At results next Tuesday, management will be issuing guidance against a challenging backdrop, the broker said, “with no competitive let-up and a high profile attempt to lead industry price indexation not getting far”.

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3. Coinbase loses half its value with crypto world still licking its wounds

A financial filing suggested the cryptocurrency exchange and wallet service may be headed for insolvency, with account holders possibly classed as unsecured creditors and, therefore, potentially losing all money from their accounts.

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4. No Friday 13th horror show for FTSE 100

At the close, the UK blue-chip index was 184.81 points, or 2.6% higher at 7,418.15, just below the day’s peak of 7,421.95 and well above the session low of 7,233.34 as US stocks also rallied after a roller-coaster week.

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5. Return of the meme stocks

Despite a no trigger from any fundamental reasons, the old favourites from Reddit’s WallStreetBets community all rose sharply, as did many cryptocurrencies.

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Let’s take a look at some of next week’s news