🧪 Free Covid tests

…and Nikola pays $125M as SPACs get more scrutiny [Disclosures](   Baby Dino is ready for Christmas [Carol Yepes/Moment via Getty Images]   Yesterday’s Market Moves   Dow Jones 35,493 (+1.60%) S&P 500 4,649 (+1.78%) Nasdaq 15,341 (+2.40%) Bitcoin $49,316 (+5.12%) Dow Jones 35,493 (+1.60%) S&P 500 4,649 (+1.78%) Nasdaq 15,341 (+2.40%) Bitcoin $49,316 (+5.12%) Hey Snackers, Instead of a partridge in a pear tree, we got a dinosaur in an egg: Scientists [discovered]( a rare well-preserved dinosaur embryo. The 70-million-year-old fossil suggests dinos had a lot more in common with birds than we thought. Stocks majorly rebounded yesterday after a three-day Omicron-driven losing streak. The techy Nasdaq index gained 2.4%, but is still down 4% from its mid-November record. Rapid Biden offers free Covid tests to avoid Omicron lockdowns, as recovery grows shaky Overnight shipping = unavailable… Yesterday President Biden announced [plans]( to distribute 500M free at-home Covid tests — nearly two per American. People will be able to order the rapid tests online next month. Test makers including [Abbott]( and [Quest Diagnostics]( [could]( benefit. Biden also plans to deploy 1K military troops to overwhelmed hospitals to prep for an Omicron wave. Hospitalizations in several states more than doubled over the past two weeks. - The first US Omicron case was detected less than a month ago, but the variant already represents nearly [three-fourths]( of Covid cases in the country. - Omicron is believed to be less severe but more contagious than previous variants, based on early data. Mild cases may be easy to miss, so regular testing is key. - [Pfizer]( and [Moderna]( say their vaccines, coupled with boosters, seem to prevent Omicron infections. But research suggests [J&J]( and [AstraZeneca]( aren’t successful — though they still appear to provide significant protection against serious illness. Cancel the fireworks… 3X more Americans plan to fly this holiday season compared to last, which could also increase transmission. Omicron’s spread isn’t expected to reduce holiday travel. But several governments and organizations have tightened IRL restrictions. Just a few: - 50+ countries (including the US) have upped Omicron-related travel restrictions, and many European cities have restarted outdoor-mask mandates. - Schools across the US have temporarily returned to remote learning, and pro sports leagues — including the NBA, NFL, and NHL — rescheduled games. THE TAKEAWAY Recovery is fickle… White House officials say another lockdown isn’t necessary, but they do expect Omicron to keep spreading. New restrictions and Covid fears could cause sales to slump in the short term. Longer term, inflation and supply shortages could persist if new strains continue disrupting less vaxxed parts of the world. While markets have rebounded faster from each new variant, volatility likely isn’t over. What else we're Snackin' - [Truck]( Electric-truck maker [Nikola]( agreed to pay the SEC $125M to settle charges that it defrauded investors by exaggerating the readiness of its tech (e.g.: the infamous [truck-rolling-down-a-hill]( promo). It’s the latest example of regulators cracking down on SPACs. - [Flated]( Striking [Kellogg]( workers sealed a contract that included a cost-of-living adjustment, or COLA. As prices soar, cost-of-living raises are gaining steam to protect workers. The catch: They could make inflation worse. - [Cheerios]( [General Mills]( shares fell 4% after the cereal icon disappointed on quarterly profit (thanks, inflation), though it raised its sales forecast for the year as at-home snacking continued. - [Thrifty]( [Rite Aid]( said it planned to close at least 63 drugstore locations in the coming months as it reassesses its brick-and-mortar strategy to cut costs. - [Warn]( Consumer goods giant [Procter & Gamble]( recalled dozens of Pantene and Herbal Essences dry shampoos and conditioners over concerns that they could contain the cancer-causing chemical benzene. - [Mickey]( Former [Disney]( CEO Bob Iger says Disney+ needs to appeal to a broader audience to reach its goal of 230M subscribers by 2024 — double what it has now. Next: Catering beyond kids and nostalgic millennials. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. The Snacks Daily Podcast Our pod hosts are resting their vocal cords until January 3, but stay tuned for a snackable bonus episode dropping on Monday. You can [check out]( our stash of (still tasty) episodes on Spotify, Apple, or wherever you pod. Snack Fact Of the Day [Just 0.01% of Bitcoin holders control 27% of the currency in circulation, a new study found]( Wednesday - Earnings expected from: Cintas, Paychex, and CarMax Authors of this Snacks own: Bitcoin and shares of Moderna, Pfizer, Disney, Nikola, Spotify, and Apple ID: 1967193 Robinhood Snacks newsletters and podcasts reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC (Member [SIPC]( and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are for informational purposes only, and are not a recommendation of an investment strategy or to buy or sell any security, digital asset (cryptocurrency, etc) in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinhood Markets, Inc., Robinhood Financial LLC, or any of their subsidiaries or affiliates. All investments involve risk including the loss of principal and past performance does not guarantee future results. [Robinhood Terms and Conditions]( • [Disclosure Library]( • [Our Editorial Principles]( • [Contact Us]( • [FAQ]( [Manage Your Subscription Preferences](