Hey Snackers,
Tinker Bell's going vegan(ish). Disney announced 400 plant-based food items are magically hitting its theme parks next month.
Markets dropped yesterday after the Speaker of the House announced she's opening up an impeachment inquiry into President Trump — political uncertainty like that can mess with investors.
There's no "We" in Adam... Since WeWork filed to IPO last month, it's become a Wall Street punchline: Its S-1 IPO filing paperwork was super cagey ("Our mission is to elevate the world's consciousness") and its new name ("We Company") led to some pronoun jokes. On Wednesday, co-founder/CEO Adam Neumann demoted himself to eliminate the distraction he'd become:
Tell us about a time when you... did something reckless. Adam can. Just last week, the Wall Street Journal profiled his brilliance and craziness. That got investors even nervous-er about investing in Adam's hugely unprofitable co-working real estate company. Here are the low-light highlights:
Ousting Uber CEO Travis Kalanick didn't solve all of Uber's problems... and this won't solve all of WeWork's. The IPO was already delayed because of concerns about Adam's conflicts of interest (he trademarked the name "We" and then personally sold it to WeWork to use for $6M). Now the Adam liability is gone, but these problems aren't:
Keep moving. Nothing to see here... Nio would like you to continue doing whatever you're doing (and not talk about Nio). That's why the Shanghai-based electric car company revealed its quarterly earnings and then abruptly canceled the call to discuss them with investors — that's when shares dropped 22%. Nio's had a rough few months:
One problem... It was already pursuing a leaner operation before this. Here's how Nio was struggling already in the months before things got worse. Earlier this year, Nio had to:
Bubbles can happen anywhere... Like in China's electric car market. Half the world's e-vehicle sales are in China — but that demand is supported by subsidies (the government hands out money to make buying cleaner cars cheaper). Now China's phasing out those subsides, eliminating them by 2020. The result: Nio's sales have fallen 2-straight quarters.
Disclosure: Authors of this Snacks own shares of Tesla
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