Hey Snackers,
Christie's is auctioning off a collection of Supreme T-shirts for $2M. How much is our laptop sticker worth?
Yesterday, an FDA panel recommended the approval of Pfizer and BioNTech's Covid-19 vaccine. This means the FDA will likely approve the vax for emergency use, possibly in a few days.
That escalated quickly... If the stock market was Hollywood, this week would've been its Sundance Film Festival. Two famous tech platforms delivered back-to-back blockbuster IPOs in their debuts on the public market. BTW: the IPO price is what institutional investors (like mutual funds) — not regular investors like us — get to pay per share.
Hungry for PDA ... Despite a pandemic and an economic crisis, 2020 has been a blockbuster year for IPOs overall. We whipped up two explanations for the IPO-palooza:
Don't forget interest rates... Stocks have rallied to record highs partly because interest rates are at record lows (shout-out: the Fed). Super low interest rates can inflate the value of assets like stocks, because they make things like savings accounts seem less attractive. If the APY on your savings account is higher, you're less likely to invest in stocks, which carry risk. If the interest rate is nearly nothing, you're probably more likely to invest, driving up stock prices.
Cold brew coming in hot... Most important update from Starbucks' investor day: Pumpkin Cream Cold Brew outsold the infamous Pumpkin Spice Latte. Second most important update: oat milk is going nationwide (expect a brown sugar + iced espress-oat concoction). The non-drinkable update: Starbs is planning to open 22K+ new stores in the next ten years, to hit 55K total by 2030.
Not all Starbs are created equal... For Starbucks, there's no such thing as a one-size-fits-all store approach. For an urban hotspot, your typical ~1K ft cafe might be too small. For other neighborhoods, a ballroom-sized Starbucks Reserve might be too big (only for Java snobs). So Starbucks is "canvassing," whipping up different cafes for different needs:
Our 1st glimpse at "The Return of the Routine"... Starbucks' investor day was majorly focused on looking beyond the corona-conomy. The CEO believes caffeine lovers will flock back to cafes once the pandemic is over, and Starbs' investment in thousands of new stores shows he means it. Starbucks is banking on a return to routine.
🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up here.
Authors of this Snacks own shares of: Uber and Disney
ID: 1445498