â¦and Walmartâs pet-services bet Liftoff (Rocket Lab) [Sponsored by]( Yesterdayâs Market Moves Dow Jones
34,441 (-0.22%) S&P 500
4,402 (-0.94%) Nasdaq
13,469 (-1.53%) Bitcoin
$27,117 (-0.36%) Dow Jones
34,441 (-0.22%) S&P 500
4,402 (-0.94%)
Nasdaq
13,469 (-1.53%) Bitcoin
$27,117 (-0.36%) Hey Snackers, A Danish artist commissioned by a museum to create works commenting on EU wage disparities has been [ordered]( to return nearly $71K (plus legal fees). The reason: the artist turned in two blank canvases titled âTake the Money and Run.â Guess the museum missed the pointillism. Stocks slid as the Fed skipped a hike for this month, keeping rates steady in the 5.25%-to-5.5% range (still a 22-year high). The USâs central bank suggested high rates could stick around awhile. [Instacart]( and [Arm]( shares slipped after their recent IPOs. Satellite SpaceX rival Rocket Lab stumbles as the reusable-rocket industry takes off No rocket, man⦠Reusable-rocket co [Rocket Lab]( notched a big L this week after its satellite-carrying Electron rocket [failed]( about 2 minutes into its flight. The failure, on Tuesday, was the first for the California company in more than two years, and it sent the bizâs stock down nearly 12%. (Rocket Lab said it would postpone its next Electron mission.) RL has blasted to industry prominence in recent years, trailing only SpaceX as the most active US rocket company. But space, as so many in the industry say, is hard: - Blue it: Jeff Bezosâ Blue Origin had a rocket engine explode during testing in June. - Astried: [Astra]( said last year that it would stop flying a rocket designed to launch small satellites after several failures â including a mission for NASA. - Virgin Obit: Despite some initial success, [Virgin Orbit]( shut down this year. X marks the spot⦠Elon Muskâs SpaceX isnât the only game in rocket-launching town, but an industry expert [said]( itâs a âde facto monopoly.â Its rockets were behind 88% of US launches in the first half of this year, and itâs received $15.3B in govât contracts since 2003 (picture: launching NASA astronauts, flying US military satellites). SpaceX also does a steady business shuttling Starlink satellites into space, as well as the satellites of Starlinkâs competitors. But itâs had its share of launch problems too. THE TAKEAWAY Second place still gets on the podium⦠The global market for rocket launches was $8B last year and is expected to hit $13B by 2025. That = a significant market for any company that can quickly and cheaply send rockets into space â something SpaceXâs reusable rockets are good at. Rocket Labâs recent failure is a setback, but its Electron rocket has a 90% success rate. Sponsored by Mode Mobile The Biggest Disruption To $martphones in 15 Years ð¤³ð¼ Flip the Script: Turn your phone from a cost to an income source. Intriguing idea, isn't it? Which is why, we have our eyes on the launch of[Modeâs Pre-IPO Offering](. Itâs the latest in a series of impressive raises among smartphone innovators, likely spurred by Appleâs recent $3T valuation. Mode saw 150x revenue growth from 2019 to 2022, a leap that has made them one of Americaâs fastest growing companies. Mode is on a mission to disrupt the industry with ["EarnPhone," a budget smartphone thatâs helped consumers earn & save $150M+]( for activities like listening to music, playing games, and ... even charging their devices?! Early backers are getting up to 100% bonus stock, and in the first month alone, 10,000+ investors acquired shares â leaving less than ~10% in the allocation. ð[Claim Exclusive 100% Bonus: $0.16/share*]( Pooch Walmart opens its first pet-services center to grow its slice of the $320B furry industry Come for the grooming⦠stay for the groceries. Yesterday [Walmart]( [opened]( its first pet-services center in an Atlanta exurb, offering everything from $15 nail trims to $25 rabies shots. It added vet services to some of its stores in 2019, and this year it gave Walmart+ subscribers free access to virtual vet visits. The new pet vet and grooming center has its own entrance next to Walmart, and is staffed by workers from pet health and wellness company [PetIQ](. Walmart plans to open more locations next year (or sooner). - Purr-fect opportunity: Well over half of Americans have a pet, and vet-clinic traffic is on the rise as more folks check up on their fluffy companions. And businesses have taken note. Stocking up on squeaky toys⦠Pet adoption has really slowed since the pandemic, but that didnât keep Americans from splurging $137B on their fur babies last year, up 11% from 2021. Retailers want to cash in on the pet-palooza. In July, home-improvement biggie [Loweâs]( said it would expand its [Petco]( shop-in-shops from 15 locations to nearly 300 by the end of the year. Petco itself has grown its vet biz from 10 clinics in 2018 to 247. And this year [Kohlâs]( said it would make room for more pet goodies. THE TAKEAWAY Capitalize on the habits you create... 31M people visit Walmart daily for their budget-shopping needs like groceries. Adding pet services next to stores could create a convenient two-in-one habit, giving shoppers more to add to their list (picture: dropping Rosie off for a trim while you grab eggs). [Chewy]( and Petco said pet owners are increasingly opting for wallet-friendly supplies, and Walmart could capitalize on its discount reputation. What else we're Snackin' - [Deliver]( [FedEx]( shares spiked after the shipping titan topped profit estimates and raised its earnings forecast thanks to cost cuts, price hikes, and market share gained from rival [UPS]( and bankrupt Yellow Corp. - [Loot]( The FTC is contacting 37M people who may qualify for refunds on purchases they or their kids accidentally made in Fortnite. The $245M settlement comes from a suit accusing Epic Games of using âdeceptive interfaces.â - [Surgical]( Elonâs brain-implant startup, Neuralink, is recruiting people with quadriplegia to evaluate whether its brain chip can help them control devices with their minds. Rival Synchron started human trials last year. - [Bookbot]( George R.R. Martin, Jodi Picoult, and other authors sued ChatGPT maker OpenAI, accusing it of illegally using their books to train its bot. Theyâre the latest authors seeking AI copyright protections. - [Off]( [GM]( and Dodge maker [Stellantis]( said they laid off more workers (~2.4K combined) as a result of the United Auto Workersâ union strike, which has caused parts shortages even at plants that werenât targeted. ðª Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. Snack Fact Of the Day Nearly half of Americans age 18 to 29 live with family [Read more]( Thursday - August existing-home-sales report - Earnings expected from Darden Restaurants Authors of this Snacks own shares of: GM, Rocket Lab, and Walmart *Advertiser's disclosure: Please read the offering circular and related risks at invest.modemobile.com. This is a paid advertisement for Mode Mobileâs Regulation CF Offering. 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]( [Sherwood Terms and Conditions]( ⢠[Our Editorial Principles]( ⢠[Contact Us](mailto:hellosnacks@sherwoodmedia.com) ⢠[Privacy Policy]( ⢠[Advertise with us](mailto:advertising@sherwoodmedia.com)
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