…and the Spotify Wrapped phenomenon
| The "pickup" part is covered (Robyn Beck/Getty Images) | |
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Yesterday's Market Moves | | Dow Jones
35,430 (+0.04%) | S&P 500
4,551 (-0.10%) | Nasdaq
14,258 (-0.16%) | Bitcoin
$37,797 (+0.01%) |
| Dow Jones
35,430 (+0.04%) | S&P 500
4,551 (-0.10%) | Nasdaq
14,258 (-0.16%) | Bitcoin
$37,797 (+0.01%) |
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Hey Snackers, If it sounds too good to be true, it's probably fishy business: Red Lobster's "Ultimate Endless Shrimp" deal ($20 for unlimited shrimp) contributed to a quarterly loss for the seafood icon. Customers clearly took the all-you-can-eat deal seriously. Stocks barely budged yesterday, but a revised US GDP showed that the country's economy grew at an even stronger pace last quarter than anticipated. | |
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Tesla's set to deliver its first Cybertrucks as the EV market hits some potholes | Better late than never?… Tesla said it would deliver 10 Cybertrucks to customers at an event at its Austin factory today (it's supposed to be livestreamed on X, natch). The company announced the futuristic ride four years ago, and it aimed to deliver it to eager buyers two years ago. A lot's changed since the 2019 reveal, with experts saying the once pitched price of $40K may end up closer to $60K (deets are expected to drop today). And while the Cybertruck has finally arrived, it doesn't mean it's ready to scale: Widertruck: The truck's stainless-steel exterior is said to be difficult to shape, with some observers spotting large gaps between panels. Pick up the pace: The Cybertruck is Tesla's first vehicle that runs completely on its manufactured-in-house battery cells, which are reportedly behind schedule.
Back of the pack… but comin' in hot. There are now several fully electric trucks for sale, notably Ford's F-150 Lightning and Rivian's R1T. They're electric on the inside, but on the outside look like OG gas-powered pickups. The Cybertruck — with its angular shape and polarizing design — headed in a wilder direction. That, plus the fact that electric sales growth is cooling, means the Cybertruck may find itself starting the race for market share well behind the bunch. Still, the market's growing: EVs are expected to make up nearly 10% of all cars on US roads this year. |  | THE TAKEAWAY |
| A flashy horse stands out… but ain't guaranteed to win the race. Analysts say Tesla's Cybertruck is a major gamble, with boss Elon Musk saying he hopes to churn out 200K of them every year. Still, in the increasingly crowded EV market, Cybertruck's viral cachet and sci-fi aesthetic could drive a lot of sales, especially if it can scale at a competitive price. | |
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| | Monogram's mBôs: Orthopedic Innovation Delivered | Monogram Orthopedics (Nasdaq: MGRM), a leader in medical innovation, proudly announces the delivery of mBôs, their first autonomous robot designed for orthopedic surgery. Following their successful crowdfunded IPO in May, Monogram's expertise in robotics and 3D-printed implants is transitioning from theory to practice. Monogram aims to improve the standard of care in orthopedic joint replacement surgery with advanced, next-generation active surgical robotics. Approximately 88% of knee replacement surgeries (the Company's first addressable market) are still manual. The mBôs robot aims to combine safety, ease of use, streamlined cost, novel implant design, broad clinical functionality, and speed to help drive the next wave of robotic adoption in orthopedics. Learn how This Key Revenue Milestone could disrupt an industry by signing up for their upcoming product demonstration. |
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Spotify's viral Wrapped recap highlights the power of personalized data marketing | Top .05% of listeners… of "fan noises for sleep." Spotify's most wonderful time of the year is here: its data-fueled Wrapped activation launched yesterday. It's the streaming platform's chance to tell listeners their top genre was "vaporwave indietronica" and sum up their top artists and songs. In a year where artificial intelligence (shoutout to AI Drake) took the mic, Spotify said its theme is "real" — to highlight the relationship between fans and their fave artists. "Coastal cowgirl" tunes: Listeners will see a video message from their top artist this year, with a character like "Vampire" that represents their Spotify habits and a "Sound Town" that shows which city's fans they would most want to share an earbud with. Beyond the app: Billboards around the world highlighted humorous data points, while others featured Swifty Easter eggs to tease that Taylor is the year's most-streamed artist (hope runner-up Bad Bunny's OK).
From Barbie to pickleball playlists… Spotify rolled out Wrapped in 2016 and created shareable Instagram graphics a few years later. In 2021, 120M listeners perused their personalized recaps and 60M shared their wraps on social. At this writing, the #SpotifyWrapped hashtag had nearly 70B views on TikTok, and #SpotifyWrapped2023 had nearly 130M. On X, Wrapped is trending, as usual. The breakout success of Spotify's data-fueled marketing magic has inspired countless copycats, including from streaming rivals like Apple Music and Tidal, but also Duolingo, Nintendo's Switch, and even WaPo. | | THE TAKEAWAY |
| Users like (fun) data tracking… As governments crack down on corporate use of personal data, Wrapped critics say it just wraps a pretty bow on personal-info collection. While consumers are averse to having their data mined for purposes like ad targeting, the perception shifts when their data is presented in a fun or helpful way. Some apps exist for that sole purpose (think: MyFitnessPal, Sleep Cycle, Goodreads). People are cool with sharing their data — when it's fun. | |
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What else we're Snackin' | RedCard: Soccer superstar Cristiano Ronaldo faces a $1B+ investor-led lawsuit over his promos of Binance NFTs, which have plunged in value. Other celeb crypto endorsers, including Shaq and Tom Brady, have been hit with suits. Swish: After 20+ years, Mark Cuban is selling his majority stake in the NBA's Dallas Mavericks to Las Vegas Sands owner Miriam Adelson. Amid rumors that he might be considering running for US president, Cuban said he had "no plans to run." Bite: Apple reportedly offered a proposal to cut ties with Goldman Sachs after partnering to launch the Apple Card in 2019. GS has cut back on its consumer banking biz, which has lost billions. Magnate: Investing stalwart Charlie Munger, adviser and friend to Warren Buffett, died Tuesday at age 99. Munger worked with Buffett at Berkshire Hathaway for nearly half a century, turning it into a $780B investment powerhouse. Reboot: DoorDash is teaming up with Best Buy to deliver everything from tablets to TVs. As electronic sales slow, the companies hope the holiday szn (and easy drop-offs) could fuel greater demand.
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Snack Fact Of the Day | So far this year, Spotify listeners have created over 200K break-up playlists | | |
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Thursday | Earnings expected from Kroger, Big Lots, Dell, TD Bank, Cracker Barrel, Ulta Beauty, Marvell Technology, and Build-a-Bear
Authors of this Snacks own shares of: Apple, Tesla, and Ulta *Advertiser's disclosures: Not a recommendation. It is important to consider investment objectives and risk tolerance. Seek advice from a qualified financial advisor before making investment decisions. | |
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more | |
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