That’s it?

[The beef 675] [I'm an image] “Not sure who Nikola Tesla is more disgusted with... Trevor Milton or Thomas Edison.” - Jeff Hey there carnivores, Markets mounted a comeback of sorts yesterday. Today we’re talking Tesla’s batteries being out of juice. Keep raging, Jeff & Jason [Image] [I'm an image] I'm not mad, I'm disappointed Tesla held its highly-anticipated battery day yesterday, and let’s just say investors were less than impressed, as shares fell 5.6% during trading. But let's rewind for a second... During after-hours trading Monday TSLA [shares fell over 6%](, reacting to Elon’s tweet tempering expectations for the following day. Mr. Musk, using his twitter for business, not dank memes this time, indicated that the battery day innovations would not be ready for mass production until 2022. Why not? Apparently, completely reengineering how battery cells power vehicles is not very straightforward. During the Battery Day presentation, Elon and CTO Drew Baglino [discussed the difficulties]( around the anode and cathode technology, producing the battery at scale, and how to make the batteries more affordable and sustainable. Oh, and this is probably just a super minor, insignificant detail, but the battery development is still in progress. It apparently “does work” (so it’s further along than Nikola technology), which is good, but hasn't reached peak performance, and won’t be ready for high volume production until 2022. So, did anything good get announced? Good news, poors. Tesla is confident that by using this more affordable battery, it will [be able to produce]( a fully autonomous EV for $25k. So, even those who received the full $1.2k stimulus check will be able to brag about owning a Tesla one day in the not so distant future. The bottom line... It’s been an, um, interesting week for electric vehicle companies. First, Nikola’s founder Trevor Milton stepped down amid allegations of fraud and being a pretty big d-bag. And now Tesla’s second swing and a miss in a month. Don't think we forgot about the S&P 500 snub. Of course, big difference between the two is that Tesla is still up 407% YTD and actually produces working vehicles. [Image] RagingBull’s Most Popular Services Just Went On Sale [Alternate text]( [Come And Get Em’]( [I'm an image] ☑️The show must go on. A spending bill [got approved]( by the House of Representatives late last night! No, not THE spending bill, that would provide more stimulus to help those impacted by the coronavirus. The House approved the government spending bill that will keep our local and national elected officials employed through December. The current spending plan was set to run out on September 30th. It’s unclear what the total amount of the bill includes but at least $8B will go to nutrition benefits for school children and families and added accountability for farm aid money to keep them from turning to large oil companies. The bill moves to the Senate for a vote next. ☑️Bringing down the house. Penn National Gaming had a good day yesterday as its new Barstool betting app saw [a record 63k downloads]( in its first weekend available to users. By my estimate, that’s like 1M times better than what Quibi has done to date. $PENN rose 4.5% yesterday on the news. The results are even better when you compare that to DraftKing’s 4k downloads in Jersey when it launched back in August 2018. The single-day record for DK’s app was 15k on Sept. 10th of this year which is when the NFL kicked off its season. FanDuel did better with 9k downloads during the 2018 NFL season and 19k on September 13th, the first Sunday of the NFL season. Gambling looks like it is here to stay in general as all three platforms saw strong numbers this NFL season. DK, which went public via SPAC this year and Penn National are up 194% and 416%, respectively, year-to-date. ☑️We fly high. Walmart is [taking the next step]( in piloting its drove delivery system as it plans to drop Covid-19 diagnostic kits at customers’ homes. The retailer will begin delivering at-home coronavirus self-collection kits to people living in North Las Vegas and Cheektowaga, New York. Something tells me the results of those tests might be compromised and shouldn’t count towards the official CDC stats… Quest Diagnostics will be doing the actual testing and Virginia-based DroneUp will be responsible for manning the personal spy-machines…I mean drones. All delivery is contactless and will be at no cost to the customers. The drones will only fly to homes within a one-mile radius of the supercenters in those two markets, which means the customers would have to be really f*ckin lazy to actually order it. ☑️Blue 82. Not all retailers are dead…just ask Nike. The just-doers shares [soared 13% yesterday]( after the bell as it reported an 82% increase in digital sales for Q2 and announced that it expects a strong holiday season this year. Looks like John Donahoe can get that pool now… As we have seen as ‘rona boi has run through some companies like the homecoming king at a Kappa Kappa Gamma house, some retailers have come out on the winning end. A strong back-to-school season and a “stronger-than-ever” Jordan brand have helped propel Nike to new heights. EPS came in at 95 cents compared to 47 cents expected and its revenue of $10.59B beat out expectations of $9.15B. Sales in China also increased by 6%, although North America dropped 2% for the same time last year. Investors especially liked Nike’s positive outlook for 2021 as it expects high single to low double-digit growth. ☑️Cut and sold. Speaking of struggling retailers, Ralph Lauren [is going the opposite way]( of Nike, announcing that it is cutting its workforce by 15%. Ralph didn’t put out an exact number but it currently employed 24.9k people globally as of March. The spread of Covid-19 forced Ralph to close many of its stores for most of the spring and they reopened to a completely changed shopping world. The beloved brand of upper-middle-class folks reports $487.5M in revenue for its fiscal first quarter compared to $1.43B for the same period last year. Not good. As part of the restructuring, it plans to consolidate its global brand and marketing teams as well as create an internal group focused on consumer intelligence and experiences. 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