The "Super League" has arrived [peepo/E+ via Getty Images]
Hey Snackers,
McDonaldâs is beefing up its "Famous Orders" campaign by partnering with K-pop sensation BTS on nuggets and fries. Hope they fry ~ it~ up ~ like dynamite.
Stocks dipped from their record highs yesterday as investors geared up for a busy earnings week. Netflix and J&J report today â and Apple might announce some new products.
Much doge, such funny... Dogecoin is a cryptocurrency that was created by two engineers in 2013 as a joke. It's a literal meme investment, themed around the OG âdogeâ Shiba Inu meme. Unlike bitcoin, which is capped at 21M coins, dogecoin currently has no hard cap (theoretically: unlimited supply).
Not April Foolâs Day⊠More like April 20. In case the nature of Doge wasnât clear enough, certain fans are now gunning for the crypto to hit 69 cents on 4/20 (which some are calling "Doge Dayâ). Dogeâs total market value has crossed $50B â more than Ford and DoorDash are worth. Meanwhile, celebs like Elon Musk and Snoop Dogg have been promoting doge, further fueling the social-driven buying campaign.
The punchline is TBD... If Doge is a joke, then its future is determined by how long people are entertained by it. With traditional investing, people buy because they believe that the earnings and growth potential they see in an investment will drive more demand. With doge, people may buy because they believe others will buy based on a cultural fad. Investors could benefit short-term. But the long-term outcome of investing in these types of cultural assets remains unclear. Investing interest can wane as fast as it rises. From April 16 to April 17 alone, Doge plunged to nearly half its value.
Warned... Peloton was the epitome of a corona-conomy thriver. Its stock ~5X'd in 2020, as its connected home fitness products sprinted off shelves. As SoulCycle and Equinox locations reopen, Peloton shares have fallen 26% this year. Peloton has been trying to expand beyond $2K spin bikes â so it launched $4K treadmills in 2018. Those are causing major problems now:
Peloton got defensive... It called the agencyâs claims inaccurate, saying thereâs no reason to stop using the Tread+ if people follow safety instructions (which are included in the manual and on the treadmill). Peloton's instructions say that children, pets, and objects should always be kept away from the Tread+. Peloton also reminded adults to remove the "Safety Key," which prevents the Tread from being turned on post-workout.
Rule #1 of crisis management = overcorrect... While Peloton may not be technically at fault, it could've done more to maintain trust and safety with users. Potential examples: shipping a protective tread cover to owners, or releasing a safety-related software update. Instead, all it did was warn people to follow instructions. It could also have issued a recall, which would be a big financial hit (think: moving Treads out of houses, plus compensating owners). Still, sometimes companies recall products â and Peloton now faces mounting pressure to recall its Treads.
Authors of this Snacks own shares of: Apple
ID: 1612058