Can you smell what TKO is cooking? It's a deal with ESPN for a reported $1.6 billion for the five-year streaming rights to 10 of the wrestling giant's biggest events, including WrestleMania (which recently had record-breaking viewership), Royal Rumble, and SummerSlam. If true, that would be way, way above what Peacock reportedly paid for the same package in a previous deal, which certainly deserved a "woo!" from TKO shareholders but instead saw the shares hit the mat yesterday. In the words of Stone Cold Steve Austin: "What?" Tuesday's drop was just another opportunity to buy the dip on Wednesday. The S&P 500 rose 0.7% and the Nasdaq 100 outperformed with a 1.3% advance, while the Russell 2000 once again bucked the trend, dropping 0.2%. |
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First Pete Seeger asked, "Where Have All the Flowers Gone," then Paula Cole wondered, "Where Have All the Cowboys Gone?" and now Sherwood News' Rani Molla is looking into the seeming disappearance of Tesla Cybertrucks from its Gigafactory lot. This spring, Sherwood got satellite imagery of Tesla's Texas Gigafactory, where the Cybertrucks are made. Scans of lots that hold finished Teslas quickly revealed hundreds of Cybertrucks stashed outside the factory — their large rectangular profiles making them easily recognizable from space. Already sales of the Cybertruck had begun to flag, so it seemed Tesla was stuck with the extras. But when we checked satellite images of Tesla's Texas parking lots again this summer, however, the stainless steel behemoths were no longer so apparent, as this cool interactive slider shows. So, what happened? |
- Tesla is making fewer Cybertrucks, as our chart up top shows.
- Tesla is selling fewer Cybertrucks, too. Rivian has replaced the Cybertruck as the "it" car in the tony Hamptons, and the Tesla trucks themselves have been the subject of vandalism across the country, which has likely also dampened demand.
- Of course, Tesla may have concluded that storing Cybertruck inventory in a single spot is noticeable by smart people like Sherwood's Molla and so now it's mixing the Cybertrucks in with the rest of the lot.
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Demystify crypto to help diversify your portfolio. |
Grayscale has been educating investors on crypto for over a decade. Their deep expertise in managing crypto investment products means they can help you understand the basics of blockchain or dive deeper into smart contracts, NFTs, and more. Learn more at grayscale.com/crypto-journey. Grayscale. Invest in your share of the future.1 Investing involves risk and possible loss of principal. Visit grayscale.com for more information. |
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Earlier this week, Amazon announced it would be restructuring its Wondery podcast business as the landscape increasingly shifts toward host-centric, video-integrated shows. The decision comes as the podcast industry reinvents itself and signals that Amazon's $300 million bet on the medium is getting more focused. The elephant in the recording room is YouTube — the viral internet video giant that became a TV, music, advertising, and now podcast giant. An April survey revealed that 39% of all weekly podcast consumers use YouTube as their primary platform, more than double the share from late 2019. In February, the company estimated that more than a billion people a month are watching podcasts on the platform. |
- That's right: watching. Podcast listeners across generations consume the medium differently — nearly three-quarters of respondents said they watch podcasts more often than listening to them.
- YouTube's domination echoes its success in TV, where it's routinely beating out Disney, Netflix, Paramount, and NBCUniversal.
- Host-centric podcasts have been topping the leaderboard consistently, with some names you can guess grabbing six of the top 10 spots.
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The days of the biggest podcasts being true crime shows and serialized investigations are long gone. Now, podcasts are things you can watch, listen, or multitask to — a bit like the late-night talk show format that is, ironically, struggling so much on linear TV. |
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A recent survey found that fully remote work was least popular with Gen Z among all age groups surveyed, with only 23% saying they preferred working from home full time, whereas working on-site is least popular with this generation. Why Gen Z doesn't want to go fully remote: some theories. |
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While Snap's ad revenue growth is slower than its peers, which site saw the greatest jump in ad revenue last quarter? |
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$1B Startup Disrupting Retirement Industry |
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Yesterday's Big Daily Movers |
- Apple rose 5% after the White House announced that the tech titan will invest an additional $100 billion in domestic manufacturing
- Shopify shares soared after the e-commerce giant posted strong second-quarter results
- Arista Networks jumped after crushing earnings, boosting guidance, and getting Wall Street price target hikes
- Astera Labs surged after the San Jose maker of chips, boards, and integrated circuits issued strong Q2 results after the close Tuesday
- Novo Nordisk slumped more than 4% after reporting that GLP-1 knockoffs were eating up its business
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- McDonald's plans to test premium sodas aimed at Gen Z
- Investors have run out of patience with Super Micro's many excuses for sales misses
- OpenAI announced a partnership with the General Services Administration to sell ChatGPT Enterprise to any federal agency for $1 per year
- Have bitcoin treasuries peaked? Galaxy's CEO thinks so
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| - Earnings expected from Eli Lilly, ConocoPhillips, Constellation Energy, SoundHound, Pinterest, Warner Bros. Discovery, Block, Expedia, Wynn Resorts, Celsius, Rocket Lab, and D-Wave Quantum
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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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