💰 Naver-mind the naysayers

South Korea’s Naver bought Poshmark for $1.2 billion | Bakery chain Greggs saw 15% sales growth | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for October 5th in 3:13 minutes. 🗻 More than 15,000 people attended our retail investing summit last year, and you can bet this one’s going to be even bigger and better. Join us for the [Modern Investor Summit]( on December 6th and 7th, and get ready to rub shoulders with finance VIPs like Anthony “Pomp” Pompliano, Sallie Krawcheck, and Kayla Scanlon. [Grab your free ticket now]( Today's big stories - South Korean internet giant Naver snapped up second-hand clothes retailer Poshmark - The Federal Reserve’s given stocks a knock, but your portfolio doesn’t have to follow – [Read Now]( - UK bakery chain Greggs gave a strong quarterly update Never Say Naver [Never Say Naver] What’s Going On Here? Naver, South Korea’s biggest internet company, [announced]( this week that it’s buying US clothing reseller Poshmark in a deal worth $1.2 billion. What Does This Mean? The US online second-hand fashion market's already worth a sleek $80 billion at the moment, and it's predicted to hit a show-stopping $130 billion by 2025. And with that hefty twelve-figure forecast, it’s no surprise that it’s attracting overseas attention. Just look at Naver: South Korea’s biggest internet company is buying US second-hand fashion marketplace Poshmark at nearly $18 a share – a whole 15% more than what they were worth before the deal was announced. The acquisition is Naver’s biggest ever and reveals the company’s commitment to becoming a global player in the online fashion space: its ambitious plan involves enriching Poshmark’s social shopping platform – which boasts an 80 million-strong customer base – with new live-streaming features that are popular in Asia. And at the same time, it’ll give Poshmark access to Naver’s vast ecommerce experience, while letting the platform continue to operate independently. Why Should I Care? For markets: Dangerous liaison. It seems investors weren’t sold on Naver’s grand plan. In the wake of the news, the company’s shares hit a low they haven’t seen since April 2020 – and not without reason. After all, Poshmark’s stock price has been in near-constant freefall since it went public last year, and the fact it’s likely to post a $70-million loss this year hardly screams “Buy me!”. All in all, then, Naver’s going to have to put its shoulder to the grindstone if it hopes to turn this deal to its advantage. Zooming out: Dressing down. With the global economy faltering and ecommerce growth going slack, circumstances seem to be set against Naver. Look at fashion retailer Boohoo: last week the company [reported]( its first ever drop in sales in the first half of the year – and with cash-strapped consumers skimping on fashion sense in favor of financial sense, the company found itself forced to slash profit predictions for the rest of 2022 too. You might also like: [Why pre-owned fashion could be a good investment.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Never Say Naver&utm_campaign=daily-global-05-10-2022&utm_source=email) Analyst Take Stormy September Strikes Again [Stormy September Strikes Again]( By Russell Burns, Analyst Stormy September doubled down on its reputation as the [worst-performing month]( of the year. [The S&P 500 Index]( fell 9.3% during the famously sluggish month, and [the Nasdaq 10.5%](. And it turns out the Federal Reserve – busy powering up interest rates and slimming down its balance sheet – could be [behind the selloff](. So that’s today’s Insight: [how the Federal Reserve has impacted stocks, and how you can react to the slump](. [Read or listen to the Insight here]( Your brand could represent the new investing era The second [Finimize Modern Investor Summit]( will celebrate the new era of investing. So if your brand or product is helping to create the next generation of investing opportunities, our summit is the [ideal place to showcase your potential](. Feature your product during speaker slots, fireside chats, and expert Q&A panels, and you’ll be able to [directly engage with an engaged audience and demonstrate your brand’s true power](. Thousands of retail investors attended the Modern Investor Summit last year, so don’t miss your chance to [get your product in front of our community this December](. [Put your brand in the spotlight](. [Find Out More]( Greggs Gets That Bread [Greggs Gets That Bread] What’s Going On Here? The British bakery chain Greggs [reported]( strong quarterly sales on Tuesday. What Does This Mean? Even if the only economic information you possessed was a price history of Greggs’ famous flakey sausage rolls, you’d still be able to tell that inflation has hit the British economy pretty hard. Rising from £1 a pop in December to £1.10 in May, and selling today at a cool £1.15 ($1.32), Greggs’ most popular offering has kept pace with rising costs – but that hasn’t discouraged hungry customers in the least. The company reported that sales grew a tantalizing 15% last quarter versus the same time last year, even though prices across its range have increased around 9% since the year began. And the baker’s growth came as something of a cakewalk despite broader gloom in the industry, with its low-priced offerings making it well suited to an atmosphere of increased frugality. Investors, seeing that the proof was in the pudding, sent Greggs’ shares up by 10%. Why Should I Care? Zooming in: Not loafing about. In analysts’ eyes, Greggs’ update displayed more green flags than a St Patrick’s Day parade in New York. And as customers swap pricey lunches for Greggs’ cheap and cheerful menu, the chain could be set to win even more customers. And you better believe it’s preparing to cater to them: the company’s opened 106 stores so far this year, and is on track to hit 150 before the year’s out. The bigger picture: Every pound counts. There’s good reason to think Brits are going to be “trading down” for cheaper options in the coming months: data out last week [showed]( that credit card spending in the UK has gone through the roof, with total balances now at a whopping £5.9 billion. Economists suspect that means people are using their cards just to pay for necessities like food – suggesting Brits are seriously struggling to make ends meet. You might also like: [The UK is in a tough spot. Can you make it work for your portfolio?]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Greggs Gets That Bread&utm_campaign=daily-global-05-10-2022&utm_source=email) 💬 Quote of the day “The second half of a man’s life is made up of nothing but the habits he has acquired during the first half.” – Fyodor Dostoevsky (a Russian writer) [Tweet this]( 🌍 Finimize Live 🥳 Coming Up This Week All events in UK time. 🕵️‍♀️ [How The Pros Navigate Stock Market Volatility](: 5pm, October 6th 👀 And After That… 🏡 [The Pathway To Property Investing In 2022](: 12pm, October 11th 📈 [How To Invest Like Warren Buffett](: 6pm, October 12th 🙋‍♀️ [Ladies Investing Club Meetup](: 6.30pm, October 12th (in-person) 🧑‍💻 [Why A Digital Asset Should Be Your Next Investment:]( 1pm, October 14th 💸 [How To Understand The True Value Of Crypto](: 6pm, October 17th 💻 [How To Invest In Tech Stocks During A Recession](: 5pm, October 18th 💪 [Three Metrics You Should Know Before Investing](: 1pm, October 19th 🎧 [How To Invest In Music NFTs](: 6pm, October 24th 🔥 [How To Secure Your Financial Future Before 40](: 5pm, October 26th 🏆 [How To Spot Investment Opportunities In Gold](: 12pm, October 27th 🤑 [Asset Allocation For Young Investors](: 5pm, November 2nd 🚀 [Modern Investor Summit](: 12pm, December 6th-7th 🎯 On Our Radar - A body to die for. Christian Bale’s American Psycho workout [is going viral](. - Champion castells. Check out [the ten-tier human towers]( Spaniards are building in Tarragona. - Performance art holiday. Discover the student hoax that [outraged the press and fooled a nation](. - Kim K’s in hot water. Her Instagram story came with [a million-dollar price tag](. - Second-hand Versailles. See the princely London flat [furnished with flea-market finds](. Automated advertisement – Finimize does not endorse advertiser • [Privacy Policy]( | [Advertiser Disclosure]( ❤️ Share with a friend Your Referrals: 0 Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. Share your unique link: [ You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? [Get in touch]( Image Credits: Image credits: Alano Design - Shutterstock | The Stock Pot - Shutterstock Preferences: [Update your email]( or [change preferences]( [View in browser]( [Unsubscribe]( from all Finimize Emails 😴 Crafted by Finimize Ltd. | Bow Bells House, Bread Street, London, EC4M 9HH All content provided by Finimize Ltd. is for informational and educational purposes only and is not meant to represent trade or investment recommendations. You signed up to this mailing list at finimize.com or through one of our partners. © Finimize 2021 [View Online](