Beyond Meat Might Do It Again
And, Shiba Inu's game milestone.
Today is Friday, October 14, 2022.
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Beyond Meat Might Do It Again
Shares of Beyond Meat (Nasdaq: BYND) ticked up 1.15% in after-hours trading on Thursday after a report indicated that the company might conduct more layoffs.
Details: According to Bloomberg, Beyond Meat asked employees to work from home on Thursday and restricted access to documents while management called the employees who were losing their jobs. The number of layoffs was not indicated in the report. Beyond Meat did not comment on the report.
Background: The layoffs come after Beyond Meat already reduced its headcount in August. It seems that the combination of lower demand and economic challenges has been bad for business. The company has experienced declining margins for some time.
Stock Price: Beyond Meat is down 77% this year, including 26% in the last 30 days.
Final Thoughts: The company needs to fix its finances. Meanwhile, Beyond Meat is testing its product with partners, such as Taco Bell. These partnerships are good for business.
Notable Earnings Today: JPMorgan Chase (NYSE: JPM), Morgan Stanley (NYSE: MS), Citigroup (NYSE: C), UnitedHealth (NYSE: UNH), Wells Fargo (NYSE: WFC), U.S. Bancorp (NYSE: USB), PNC (NYSE: PNC), First Republic Bank (NYSE: FRC).
Notable IPOs Today: Burney U.S. Factor Rotation ETF (Nasdaq: BRNY), Intensity Therapeutics, Inc. Common stock (Nasdaq: INTS), Hudson Acquisition I Corp. Unit (Nasdaq: HUDAU), TenX Keane Acquisition Unit (Nasdaq: TENKU).
Notable Equity Crowdfunding Campaigns Ending Today: Nippon Curry (Mainvest), Cytonics Corporation (SeedInvest), Baby Duck (Mainvest), Dynamic Jack (Mainvest), Built To Scale (Mainvest), AiViva (StartEngine).
Notable Economic Events Today: Retail Sales / Core Retail Sales (8:30 a.m. ET), Import Price Index / Export Price Index (8:30 a.m. ET), Retail Inventories (10:00 a.m. ET), Michigan Consumer Sentiment / Expectations (10:00 a.m. ET).
Shiba Inu Hits Game Milestone
The price of the cryptocurrency Shiba Inu grew over 5% on Thursday thanks to a recent development concerning its mobile game.
Details: Shiba Enternity, a Shuba Inu collectible card game, achieved 100,000 downloads on Thursday. The game first went live on the previous Thursday. The Android version is rated 4.6 stars out of 5.
Background: After the game launched on October 6, the price of Shiba Inu initially dipped.
Final Thoughts: Shiba Inu lost most of its value since the beginning of the year. Some still see it as just a meme coin.
Equity Crowdfunding Spotlight: J&J House of Skills
Briefly describe your business. J&J House of Skills offers mobile basketball and track training! We bring the court to our clients with a truck and trailer! Clients can be trained by an Olympian and/or an elite skills trainer.
What are the terms of the investment for your campaign? We are seeking to raise 120k over 60 months with 11.25 percent interest rate. Investors are paid quarterly. See Honeycomb Credit for details.
What makes your startup special? My company is the only company in the United States that offers mobile basketball and track training. We are a unique and essential service!
Trends to Watch
Not Going Anywhere: Caterpillar CEO Jim Umpleby To Continue As CEO (Nasdaq)
Netflix and Chill with Ads: Netflix to get Nielsen ratings as streaming giant rolls out ad-supported plan (CNBC)
Coming Together: U.S. grocer Kroger in talks to merge with rival Albertsons (Reuters)
iSavings: Apple, Goldman Sachs to Offer High-Yield Savings Accounts (The Wall Street Journal)
Down, Then Up: Bitcoin Rebounds to Over $19K After Plunge Triggered by Hot Inflation Report (CoinDesk)
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