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GO in the Know: Baby Formula Update, Tesla Stock Struggles & Top Financial News for May 20

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TGIF. Before you enjoy your weekend, here’s the lowdown on Friday’s top financial stories.

The Big Lead: Baby Formula Shortage

To help alleviate the current baby formula shortage across the U.S., Abbott Laboratories has agreed with FDA regulators on steps needed to restart production at its Michigan manufacturing plant. It is one of several relief solutions announced this week by federal agencies and the Biden administration.

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Business Spotlight: Tesla

Billionaire entrepreneur and investor Leo KoGuan, a self-described “fanboy” of Tesla CEO Elon Musk and the third-largest individual shareholder in the electric vehicle maker, is calling on the company to buy back $15 billion worth of stock to help reverse its recent slide on Wall Street.

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That’s Interesting: Finance Expert Robert Kiyosaki Hypes Bitcoin

Bitcoin is still down by more than one-third for 2022 amid a broader crypto crash, which could mean this is the time to buy, according to financial guru and “Rich Dad Poor Dad” author Robert Kiyosaki.

Read the full story here

Bonus: Expert Retirement Planning for Free

AARP offers a number of services to members and the general public, such as expert tips on retirement planning. The organization is now offering a free webinar titled “The Role Social Security Can Play in Your Retirement” as part of the organization’s online learning series.

Read the full story here

ICYMI: Yesterday’s GO in the Know

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