Today's Scoop:

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Hey friends, hope you had a great weekend. Don't miss our recap of the warning from global climate scientists.

Here's what you need to know today...

1. Investors are less worried about banks going under.

2. Customers have stopped pulling money from smaller banks.

3. Fewer companies are going public amidst the market uncertainty.

S&P 500: 3,977.531Mo: +1% | 1Yr: -13% | 5Yr: +53%

The market continued last week's positivity as investors grew more comfortable with the banking system's stability.

Several events have strengthened confidence that the banking crisis of the past few weeks has been contained. The government finally found another bank, First Citizens, willing to take over Silicon Valley Bank's deposits and loans. The merger will create the 15th largest bank in the country.

Small banks have stopped losing depositors. The panic-driven rapid withdrawals that shuttered multiple banks have slowed in recent days, according the CNBC reports.

The uncertainty in the financial system and stock market has led to a pause in significant mergers and public offerings. Bloomberg reported initial public offerings (IPOs), where companies open to regular investors on the stock market, are down 70% from last year. Companies are growing less confident in their ability to attract investors.

Click to dig in & vote your reaction, see how others feel

• Disney boosts minimum wage in Florida

• Block accused of fraud by short seller [🤓]

• Ford loses billions while shifting to electric vehicles

• Snap moves from face filters to enterprise tech

• Apple wants to be a movie studio

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Short Seller

Selling a stock short, often called shorting, means betting a stock's price will fall. 

Logistically, a short seller will borrow shares of a company's stock from a third-party investor or financial institution at the current price and wait for the price to fall. If the stock price drops, the short seller will buy the same quantity of stock at the lower price and use those shares to pay back the third party. They basically buy low and sell high but reverse the order by borrowing the shares upfront.

Certain investment firms adopt short selling as their primary strategy and focus on uncovering hidden problems at particular companies. They produce research reports of their investigations that might spur a drop in the stock price so they can profit.

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