__You know things are bad when...__ *Business Insider* comes out with an [article](https://www.insider.com/buy-cruise-ship-sale-carnival-2020-9) titled: "You can buy a retired Carnival cruise ship and have it all to yourself." Since __[Carnival](https://robinhood.com/stocks/CCL)__ anchored a [record](https://snacks.robinhood.com/newsletters/5A4ZEajsQw0bmhsFuBK1AS/articles/2Y6SMuWwMgo4YaEpGG3FuK) $4.4B quarterly loss back in June, the tide hasn't turned much for the world's largest cruise company:

- __Carnival lost $2.9B last quarter__ and it literally only has 1 ship sailing right now (in Italy). Womp.  
- __Yesterday, Carnival announced a $1B stock sale__ to [raise](https://www.barrons.com/articles/carnival-shares-slump-as-cruise-operator-launches-1-billion-stock-sale-51600183845?mod=hp_minor_pos16) money at the worst possible time. Carnival shares sank 11% on the news. Womp womp.

__Endless shrimp cocktails never end well...__ Carnival's stock sale didn't either. But Carnival is desperate: it's [losing](https://fortune.com/2020/09/15/covid-carnival-cruises-q3-losses-coronavirus/) $770M a month and only has $8B in cash left. US cruises aren't expected to resume until the end of October (ambitious) and virus fears are still high. Desperate times call for desperate cash-raising measures:

- __Selling at a low:__ Carnival stock is down ~70% this year, so it's selling stock at a major low point. Compare that to Tesla, which is capitalizing on record high stock prices by [selling](https://techcrunch.com/2020/09/01/tesla-taps-market-rally-keg-announces-5b-stock-sale/) $5B worth of new shares.
- __Diluting:__ By issuing new shares, Carnival is [diluting](https://learn.robinhood.com/articles/5rlezLS4uMuf3cZTyEAo38/what-is-stock-dilution/) the value of its existing ones. Since more shares are being added, Carnival stockholders will own less of the overall company. 


_The one guy on Carnival's one (and only) cruise_

Sink

__Markets reacted rationally...__ They do that sometimes. Carnival is selling $1B worth of new stock, which represented ~7% of its market value before the announcement. The stock dropped 8% on Tuesday morning *after* the announcement — that's very close to the percentage Carnival got diluted by. In this case, investors' reaction made total sense.

Carnival is selling its own stock at the worst possible time (but it's desperate)

__No crowd, no turtleneck...__ __[Apple](https://robinhood.com/stocks/AAPL)__ unveiled a bunch of new hardware at its big product event yesterday. The TLDR: a new fancy iPad, a new basic iPad, and two new watches. On the software side, the iOS 14 iPhone [update](https://snacks.robinhood.com/newsletters/2iRXx4Lo0sb4Xj39ZUGriE/articles/45yG4eIyAVpA5q3uf5jddO/) drops today (so we can finally understand App Clips and reply to iMessages in threads). But the announcement that *really* interested us might have __[Peloton](https://robinhood.com/stocks/PTON)__ sweating: 

- __Apple Fitness+:__ A fitness subscription service for Apple Watch. The limit for the number of plus signs that can be added to subscription services unfortunately does not exist.
- __iPhone, iPad, or Apple TV:__ Where your Fitness+ workout will start. As you spin, dance, and stretch to your screen of choice, workouts sync with your watch for metrics tracking.
-  __$9.99/month:__  How much you'll fork out for unlimited on-demand workouts, from HIIT to yoga to rowing. Each week, Apple will serve up fresh classes with new *Apple* trainers.

__Club Apple is here...__ Yesterday, Apple also officially announced its "Apple One" services bundles — they'd been [rumored](https://snacks.robinhood.com/newsletters/2PiIiM79tS5nAC8sjkX4le/articles/D8y1BXXz9AmleE7kp6cnY/) since August. The $15/month tier bundles Apple: Music, TV+, Arcade, and iCloud storage. The $30/month tier has those, *plus* Apple News+ and Fitness+ (plus plus plus).


Unveil

__Apple wants you more connected than ever...__ Including Fitness+ in the bundle could be key to that, since Apple TV+, News+ and Arcade aren't exactly hits. For customers, bundles cost less than subscribing to each service individually. For Apple, bundling helps score more subscribers and *ensure that you're interacting with its products every waking hour*. The goal is that you never leave the Apple ecosystem. Apple anchored you with iPhone and Apple Watch — now it's leveling up its lifestyle control with services.


Apple's big unveiling event: Apple Fitness+, Apple One, and "Club Apple"

Dow Jones

S&P 500

Nasdaq

Bitcoin

10-Yr US Treasury

🚢 Carnival sinks its own stock

__A TikToker and a database walk into a bar...__ The wait to see who TikTok’s US parent will be is over and it’s… anticlimactic. Yesterday, __[Oracle](https://robinhood.com/stocks/ORCL)__ confirmed it struck a deal with TikTok-owner __Bytedance__ to become a “trusted technology provider” (read: *not owner*). Oracle would reportedly be managing TikTok’s US data. The deal still needs approval from the US and China. Somehow, this endless saga only started *last month*.

- __#1:__ Trump says he'll ban TikTok on concerns that Americans' user data could be shared with the Chinese government. 
- __#2:__ Change of plans. The ban will happen *unless* an American company strikes a deal to acquire TikTok's US operations by September 20th.
- __#3:__ Oracle and a __[Microsoft](https://robinhood.com/stocks/MSFT)__-__[Walmart](https://robinhood.com/stocks/WMT)__ tagteam [emerge](https://snacks.robinhood.com/newsletters/2F3iI1nbMHbv4bvDR5gfaw/articles/2LMjKgW7k96k59D0CrdD35/) as the leading suitors.
- __#4:__ China throws a wrench into acquisition talks, saying it needs to approve the sale of TikTok and its algorithms.
- __#5:__ Microsoft gets rejected by TikTok. Oracle does "Say So" Doja Cat dance.

__Less of a parent...__ more of a guidance counselor. While Oracle will possibly get a stake in TikTok’s US assets, this isn't an acquisition. The "tech provider" role is vague, but it likely means TikTok will be moving its data to Oracle's cloud (and off  __[Google](https://robinhood.com/stocks/GOOGL)__'s, where it is today). Oracle could also get TikTok to use its marketing software for ads. TikTok is a big sexy catch of a customer, so Oracle stock jumped 4% on the news.   

Deal

__Is this a good deal for the US?...__ It certainly is for TikTok — the Tok gets to keep its 100M American users without giving up ownership of its business. But Trump has insisted the only way TikTok can avoid getting banned is a sale to a US company (this isn't that). Will Trump back off that demand? A few reasons he might:

- __Jobs:__ The US gets an American TikTok HQ with 20K employees. 
- __Popularity:__ Trump will avoid the wrath of American TikTokers ahead of the election.
- __Connections:__ Oracle's founder/Chairman/CTO Larry Ellison is pretty tight with Trump.


TikTok chooses Oracle as its American partner (sorry Microsoft)

__Introduce the problem...__ *then solve the problem*. After decades of pumping you full of caffeine and sugar, __[Pepsi](https://robinhood.com/stocks/PEP)__ wants to help you [chillax](https://robinhood.com/stocks/PEP). That's why it just [intro'd](https://www.fastcompany.com/90548696/pepsico-wants-to-help-the-caffeinated-masses-get-better-sleep-with-its-new-relaxation-drink) Driftwell, the ASMR of the canned drinks world: 

- __Driftwell (to sleep)__: The Millennially-packaged mini cans contain enhanced flat water with blackberry lavender (sounds pleasant, whatever that is). 
- __"Sip into relaxation":__ What Pepsi wants you to do. Driftwell's calorie- and sugar-free drink contains relaxing L-theanine (the star of green tea) and magnesium. 

__The problem/solution premium...__ The health shift we've seen in recent years means junkier foods/drinks have lost steam. Sugary sodas are being replaced with CBD-vegan-gluten free kombucha. Pepsi's "problem" drinks are waning, but now it can make *double* the $$$ by offering "solution" drinks, too. And these premium drinks command premium prices:  

- __$4:__ Price of a minican 10-pack of Pepsi — then you need Driftwell to sleep. 
- __$18:__ Price of a minican 10-pack of Driftwell — *then grab a Pepsi to wake you*.

_This guy needs a Driftwell_

__"Functional drinks" are 2020's big bev trend...__ These provide more than just sugar/alcohol/caffeine — they feature 1 ingredient with purported health benefits. __[Coke](https://robinhood.com/stocks/KO)__ launched Coke Energy with B vitamins and guarana. __[ABInbev](https://robinhood.com/stocks/BUD)__'s Bud launched hard green tea and coconut water. __[DrPepper](https://robinhood.com/stocks/KDP)__ invested in "smart energy" drink Adrenaline Shoc (sounds healthy). Sales of functional bevs came in at nearly $32B in 2019, up [7%](https://www.kten.com/story/42628168/pepsico-is-launching-a-drink-to-get-a-piece-of-the-1-billion-sleep-aid-industry) from 2018. We can expect to see growth accelerate during an anxiety-inducing health crisis. 


Pepsi wants to put you to sleep  as it drifts into "functional bevs"

__The cash runway doesn't look good...__ Pun 100% intended. __[Delta](https://robinhood.com/stocks/DAL)__, like other airlines, is strapped for cash. Domestic travel is down ~60% from last year and daily costs are still sky-high (Delta's [losing](https://www.wsj.com/articles/delta-to-use-frequent-flier-program-to-raise-6-5-billion-11600082314?mod=hp_lead_pos4) $27M/day). The government's $25B in airline bailout funds runs out on October 1st, and mass layoffs are expected. As a cherry on top of the cash-crunched sundae, US airlines just permanently [scrapped](https://snacks.robinhood.com/newsletters/7o4Om1Hzq8GXG0zovTZVwd/articles/2lN1BN3aZ8PX3uFiW5SxJA/) their $200 change fees for domestic flights. Sooo...

- __Delta will use its SkyMiles program to raise $6.5B__. It's using the frequent flyer program as collateral to borrow the money (basically, mortgaging your miles).
- __If Delta can't pay back the $6.5B loan,__ it won't get its planes taken away. Instead, the lenders will get to keep the $$$ Delta makes from lucrative SkyMiles sales.

__Please explane...__  Airlines earn money from frequent-flier programs by selling miles to banks and retailers that award them to customers. __[American Express](https://robinhood.com/stocks/AXP)__ is able to drop you those sweet travel rewards points since it *bought* them en masse from airlines. And each time you swipe your Delta co-branded card, Delta gets a little money from AmEx.


__Delta is a credit card company now (more than ever)...__ Few things drive loyalty like the metallic traveler status. In 2019, $4B in sales from Amex made up 8% of Delta's revenue. Delta expects annual AmEx sales to hit $7B by 2023. Delta is also AmEx’s largest co-branded account, making up 20% of AmEx balances worldwide. Delta’s passenger sales fell 60% in the 1st half of 2020 — But sales to American Express [dropped](https://www.wsj.com/articles/delta-to-use-frequent-flier-program-to-raise-6-5-billion-11600082314?mod=hp_lead_pos4) just *less than 5%*. With its passenger biz decimated, Delta's leaning into cards more than ever. 

Delta mortgages its SkyMiles program to raise $6.5B 

🎵 TikTok chooses Oracle (as chaperone) 

__Good things come in (phase) threes?...__ TBD. Out of the [170](https://www.wsj.com/articles/covid-19-vaccines-whats-coming-and-when-11598882964) Covid-19 vaccines in development, 35 have been approved for clinical human trials. *Out of those*, only 9 have advanced into the final phase of trials (aka Phase 3). Now the drugmakers are aiming to seek regulatory approval or emergency-use authorization *as soon as October*. Three of the Phase 3 front-runners:

 - __[AstraZeneca](https://robinhood.com/stocks/AZN)__: Is aiming to wrap up Phase 3  next month. It just [resumed](https://www.cnbc.com/2020/09/12/astrazeneca-coronavirus-vaccine-clinical-trials-resume-in-uk-after-pause-over-safety-concerns.html) trials after briefly pausing due to an illness in a volunteer (apparently unrelated). 
 -  __[Pfizer](https://robinhood.com/stocks/PFE):__ If its vaccine with __BioNTech__ proves safe, it would be the 1st [mRNA](https://snacks.robinhood.com/newsletters/2yiQjAPUMFj1LAGzjjtiR0/articles/5QsTxDVI2hgwiGCa3QkB6p) vaccine ever approved (unless Moderna gets there first).
 - __[Moderna](https://robinhood.com/stocks/MRNA)__: Its final stage trial could yield interim results in the fall. 

__The stakes...__ need little explanation. A vaccine is critical to stopping this world-shattering pandemic that has killed ~[920K](https://coronavirus.jhu.edu/map.html) people. And it all hinges on Phase 3 results. These large-scale trials (usually 30K people) test whether the dose that would be given to the public is safe. BTW: Russia's vaccine [skipped](https://www.nytimes.com/2020/08/11/health/russia-covid-19-vaccine-safety.html) this final stage.

- __While Phase 3 could go on for a while,__ positive mid-trial results could be enough for a vaccine to start getting approval for mass production and distribution in October.
- __Vaccines usually take 6-10 years__ from development to approval. The US has invested over $10B in "Operation Warp Speed" to make that happen in less than a year.


__Approval isn't the final challenge...__ Getting a high enough percentage of the population safely vaccinated is key. But in a Gallup poll last month, [35%](https://news.gallup.com/poll/317018/one-three-americans-not-covid-vaccine.aspx) of Americans said they wouldn't take an FDA-approved COVID vaccine, even if it was free. To boost public trust in the safety of  COVID vaccines, 9 drugmakers just [pledged](https://www.cnbc.com/2020/09/08/nine-biopharma-ceos-pledge-to-make-safety-the-main-focus-in-coronavirus-vaccine-development.html) to "uphold the integrity of the scientific process" during development. After FDA approval, trust will be critical.


Phase 3 Trial season is here: the final lap of the Covid-19 vaccine race

__When Soul Cycle goes dark...__ __[Peloton](https://robinhood.com/stocks/PTON)__'s sales surged [172%](https://www.cnbc.com/2020/09/10/peloton-pton-reports-fiscal-.html) and it snagged a quarterly profit (must've been a Beyoncé workout). As wealthy consumers scrambled to bring a piece of Equinox into their homes, Peloton's $2K spin bikes and $4K treadmills sprinted out of factories. Also: the average number of workouts per month more than doubled. Peloton doesn't expect to return to normal delivery times any time soon — it's expecting even bigger sales growth this quarter.

__Hollister's sportier cousin...__ Remember __[American Eagle](https://robinhood.com/stocks/AEO)__? We're guessing "no" — your forgotten middle-school mall favorite saw sales fall 26% last quarter. But AE's teen-centric loungewear brand Aerie had a 32% sales *jump* as hoodies and bralettes flew off virtual shelves. Digital sales doubled for Aerie thanks to in-app shopping (websites are sooo 2019). Until COVID hit, Aerie had 21 straight quarters of double-digit sales growth. AE stock soared 8% last week as Aerie returned to double-digit growth after a quarter off.

Highs

Who's up...

__*Electrifying week*...__ __[Nikola](https://robinhood.com/stocks/NKLA)__ shares soared 40% on Tuesday after __[GM](https://robinhood.com/stocks/GM)__ [announced](https://snacks.robinhood.com/newsletters/7FZzguUiD8aLKkREx4vy4F/articles/7CfZXV2CbwDk29abnMj5hQ/) it's investing $2B for an 11% stake in the  e-truck maker. Experienced GM will be producing young Nikola's electric trucks. Nikola's valuation soared to $19B (despite it never having actually sold a vehicle). *Then* on Thursday, Nikola's valuation plunged to $12B after a short selling research firm [accused](https://www.cnbc.com/2020/09/11/nikola-dismisses-short-seller-allegations-calling-them-a-hit-job.html) it of fraud. Nikola called it a “hit job” and is considering suing.

__(Insert anxiety-inducing notification sound)...__  __[Slack](https://robinhood.com/stocks/WORK)__'s quarterly sales jumped 49% —  about the same *as the previous two quarters*. That's yawn-worthy compared to fellow WFH'er __[Zoom](https://robinhood.com/stocks/ZM)__, which 4X'd sales and *33X'd* profit. Slack's steep learning curve might be stunting growth: newbies have to learn channels, bots, threads, and when not to message in #General (assume *never*). Now Slack's stock has fallen back to pre-pandemic levels after plunging 17% last week.


Lows

...and who's down

_AstraZeneca, Moderna, and Pfizer in the final lap_

💉 Covid-19 vaccine: the final phase 

__Clear eyes, full hearts...__ can’t lose when you’re the official *anything* of the National Football League. ICYMI: last night, the NFL brought back football (the least socially distant of all sports). ICYM the score: __Postmates__ won the marketing game. 

- __Postmates is now the [1st](https://techcrunch.com/2020/09/09/postmates-nfl/) official on-demand delivery partner of the NFL__. Great title to stick on the fridge for its parent __[Uber](https://robinhood.com/stocks/UBER)__, which announced it's [snatching up](https://snacks.robinhood.com/newsletters/q4J6y6mMs3jtkXwdTmJlG/articles/4C8Nmudmpz9QsUYbnLD5Hr/) Postmates for $2.6B in July.
- __The multiyear partnership also makes Postmates a Super Bowl sponsor.__ Just wait for the Chipotle Super Brown Rice Bowl and Tuna Poke Super Bowl commercials to roll in. 

__"Postmated" is basically LA slang...__ So far, Postmates has been the smallest fish in the Delivery Wars pond. Before it got acquired by Uber, it had just 8% of the US market share for delivery (mostly in LA). Don __DoorDash__ dominates the [mafia-style](https://snacks.robinhood.com/newsletters/5H4bzJb2lCpsjW7HA5Czc3/articles/APpX6NGeIEYFrIq5NYcoA/) food delivery wars with a 40%+ share, followed by __[Uber](https://robinhood.com/stocks/UBER)__ and __[Grubhub](https://robinhood.com/stocks/GRUB)__. But Uber/Postmates has a winning marketing strategy:

- __Play #1:__ People will mostly be staying home to watch games — no sweaty crowded bars and beer-drenched tables. *Perfect time for a food delivery partnership with the NFL*. 
- __Play #2:__ America is united in its love of football (at least there's one thing). This NFL sponsorship could be the perfect way for CA-based Postmates to win nation-wide love.


_Clear eyes, full stomachs, can't lose_

Kickoff

__The NFL powers an entire economic ecosystem...__ Postmates is the official delivery partner of the NFL, but the NFL is the unofficial cash cow of American marketing. That's because [43](https://profootballtalk.nbcsports.com/2020/01/08/nfl-games-were-41-of-the-50-most-watched-tv-broadcasts-of-2019/?) of the top 50 most-watched TV broadcasts last year were football games. The NFL is the blue whale that the whole ecosystem feeds off of. In turn, the fishes feed the NFL with big cash money for extra high-exposure partnerships and $12M commercials. 

Postmates becomes the official on-demand delivery partner of the NFL

__Hit 'em with the cloud couch...__ __[Restoration Hardware](https://robinhood.com/stocks/RH)__ is the upscale home-furnishing company whose stores look like WeWork and the Palace of Versailles had a baby (on steroids). RH prefaced its earnings with an inspiring [quote](http://ir.rh.com/static-files/b256fab3-d79a-4afb-a9d0-86a6e858e339) from Emerson. We're certain that the Transcendental, nature-adoring poet would love to see his words on the financial report of a company that sells $5K couches.

- __RH sales just barely grew__ compared to the same quarter last year, buuut...
- __Profit jumped over 50%.__ RH got to keep more $$$ from each $10K table it sold by raising prices. It [expects](https://www.cnbc.com/2020/09/10/stock-market-today-live.html) to have an even higher [profit margin](https://learn.robinhood.com/articles/2jlpKewku8iEaalz6xrKna/what-is-profit-margin/#:~:text=%F0%9F%A4%94%20Understanding%20profit%20margin&text=A%20profit%20margin%20is%20one,the%20end%20of%20the%20day.&text=This%20is%20calculated%20by%20taking,dividing%20that%20by%20total%20revenue.) next quarter. 

__Luxury still pays off...__ RH stock jumped 20% on the strong report coupled with an analyst [upgrade](https://www.barrons.com/articles/restoration-hardware-stock-pops-after-strong-earnings-upgrade-51599742840). __[Home Depot](https://robinhood.com/stocks/HD)__ had its [best](https://snacks.robinhood.com/newsletters/7MJGXTV2lqwkCcYoPsYqjJ/articles/2cQ8fFsL0GgNwOwWRIFmEA) quarter in 20 years thanks to the pandemic "House Hype." But non-affordable brands are thriving, too: 

- __Despite having sky-high prices__ during a time of economic turmoil, RH is still winning. Wealthy consumers are splurging to give their homes a (pricey) pandemic upgrade. 
- __Well said:__“The high-income consumer is healthy and is investing in their homes” — Cristina Fernández, the analyst who upgraded RH stock. 


Furnish

__The corona-conomy has Fancy Flyers...__ There's a class of expensive/luxury brands like RH that is thriving during the pandemic. These companies are seeing increased demand from wealthier consumers looking to adapt to the stay-at-home life. 

- __[Lululemon](https://robinhood.com/stocks/LULU)__'s online sales [soared](https://snacks.robinhood.com/newsletters/7FZzguUiD8aLKkREx4vy4F/articles/26yFoNKojWP5qIVWabOU6Q) 157% and its stock is up ~40% this year.
- __[Peloton](https://robinhood.com/stocks/PTON)__ just [reported](https://www.cnbc.com/2020/09/10/peloton-pton-reports-fiscal-.html) an expectation-crushing 172% sales surge. The stock is up ~200% this year.
- __[Apple](https://robinhood.com/stocks/AAPL)__ had its best [2nd](https://snacks.robinhood.com/newsletters/vPYyhZjwPeLib6Fug0rQx/articles/1ZCH362yffyTmdyQ6sXP1y/) quarter ever and became the most valuable company *on earth* this year.


Restoration Hardware is the comfiest member of corona-conomy's Fancy Flyers

🏈  Postmates wins NFL marketing 

__Call the caterers and florists...__ Breakfast at Tiffany's is canceled, along with the whole wedding. French luxury giant __LVMH__ just [called off](https://www.cnbc.com/2020/09/09/lvmh-scraps-16point2-billion-deal-with-tiffany.html) its $16.2B deal to acquire jewelry legend __[Tiffany](https://robinhood.com/stocks/TIF)__. LVMH owns 75 luxie-luxe brands, including Louis Vuitton, Dom Pérignon, Dior, and Fenty. The wedding would've been the biggest *ever* for the luxury industry.

- __Almost a year ago,__ LVMH asked for Tiffany's hand. They signed engagement papers for a merger that was to happen no later than Nov. 24, 2020.
- __Then,__ French Foreign Minister Jean-Yves Le Drian (classic) [asked](https://www.reuters.com/article/us-tiffany-m-a-lvmh-france-exclusive/exclusive-french-government-request-that-lvmh-delay-tiffany-deal-was-only-advice-idUSKBN2602U4) LVMH to delay the ceremony to  Jan. 6, citing the threat of extra US tariffs. 
- __*Yesterday,*__ LVMH used Drian's letter to tell Tiffany: "The deal cannot happen. We are prohibited from closing the deal." France says the request was just *advice* (awk). Now Tiffany is suing.

__*Très dramatique breakup...*__ to be expected when $16B is on the line. The US has threatened tariffs on luxury French goods in retaliation for France’s taxes on big American tech companies. LVMH is using the possible hit to its sales from tariffs to justify dropping the pricey deal. If LVMH's breakup goes through, Tiffany will have to hop back on the luxury dating apps (Tinder Platinum Gold?).


_When you find out that breakfast is canceled_

Bling

 __This isn’t about tariffs - it’s about overpaying...__ LVMH couldn't have asked for better timing for the letter. It doesn't want to spend $16B on a corona-battered company: Tiffany’s global sales plunged  [29%](https://news.trust.org/item/20200909193300-muu1y/) from April to July and *45%* the previous quarter. Consumers weren't shopping in key luxury markets, while fewer weddings meant fewer $20K engagement rings. LVMH CEO Bernard Arnault had [said](https://www.nytimes.com/2020/09/09/business/lvmh-tiffany-deal-lawsuit.html) Tiffany would “thrive for centuries to come” as part of his company. "Til Death Do Us Part" isn't panning out.


LVMH cancels its $16B wedding with Tiffany, conveniently blaming tariffs

__Changing status to "Snoozing"...__ __[Slack](https://robinhood.com/stocks/WORK)__ reported expectations-beating [earnings](https://investor.slackhq.com/news/news-details/2020/Slack-Announces-Second-Quarter-Fiscal-Year-2021-Results/default.aspx), but investors yawned at the results. Slack's quarterly sales growth came in at 49% — just about *the same as the previous two quarters*. Investors think it's slacking on growth, so they plunged the stock 14% Wednesday.

__The difference between a #channel and a DM...__ is almost as big as the difference between Slack and __[Zoom](https://robinhood.com/stocks/ZM)__'s pandemic growth. Zoom's sales more than [quadrupled](https://snacks.robinhood.com/newsletters/0zpHLW1IB8pix8YUTXac2/articles/4IExzn16n03xk7jw6WX7V9) compared to the same quarter last year and quarterly profit soared *3,300%*. They're both WFH winners, so why is Zoom crushing it? Slack has:

- __A longer buying process:__ Companies that want to switch to Slack are going through the whole buying/negotiation/pricing [process](https://slack.com/help/articles/115004378828-Onboard-your-company-to-Slack-) with salespeople. Zoom is more plug-and-play — just figure out how to unmute and choose a tropical background.
- __A steeper learning curve:__ Employees have to learn about channels, pings, bots, DMs, threads, GIFs, emojis, and Slack etiquette. After 2 months Bill is still asking about VPN issues in the #General channel, and Cheryl still *never responds in the thread*.
- __TLDR:__ Adding Zoom is like buying a new freezer — adding Slack is like remodeling the whole kitchen. 


_Slack gets snubbed in the WFH Olympics_

Ping

__Slack is the corona-conomy winner that wasn’t...__ Because of the WFH shift, everyone was expecting Slack to be a major pandemic success story. The stock soared 135% from mid-March to June — now it's back at March levels. Investors corrected for the "expectation vs. reality" disconnect, bringing the stock back to basically pre-pandemic levels.

Slack stock tanks because no one is impressed with its growth

__Forget TP and baking yeast...__ The most in-demand pandemic necessity is a Chromebook. Chromebooks, for the Mac-centric among us, are low-cost laptops that use __[Google](https://robinhood.com/stocks/GOOG)__'s Chrome operating system and apps. The ~$300 laptops are made by computer OGs like __[HP](https://robinhood.com/stocks/HPQ)__ and __Lenovo__. Now that students are schooling from home, Chromebooks are quickly becoming the unofficial laptop of COVID. 

- __5 months:__ How long some people are waiting to receive Chromebooks, according to a [report](https://www.theinformation.com/articles/chromebooks-gain-share-of-education-market-despite-shortages?utm_content=article-4825&utm_campaign=article_email&utm_source=sg&utm_medium=email) from *The Information*.
- __+242%:__ __Best Buy__'s sales nearly [3X'd](https://snacks.robinhood.com/newsletters/6DfXt5MiwPMbXytOtKgMOz/articles/26tJTqArWaa7oZ02abcMQk) last quarter, partly thanks to the fact that Chromebooks were constantly flying off the virtual shelves (still sold out).

__Don't judge a Chromebook by its cover...__ While Apple's sleek MacBooks get a lot of the limelight, Chromebooks are winning in terms of volume. From May to June:

- __Chromebooks made up nearly 10%__ of all computers shipped globally — that's a 2 percentage-point bump from the same quarter a year ago. 
- __Apple’s Mac OS laptops made up just 7%__. Microsoft's Windows OS still dominated with an 83% share of shipments.


Type

__Google's getting them young(er)...__ 69% of all computers bought by K-12 schools last quarter were Chromebooks. The low price tag, coupled with Google's free offering of G Suite products like Google Classroom to schools, makes them the most attractive options. Kids are getting familiarized at an early age with Google's apps and ecosystem. By the time they hit the workforce, they probably won't know what an Excel spreadsheet is. 


The next generation runs on Google thanks to Chromebooks

💍  Breakfast at Tiffany's: Canceled

__*Release the breath*...__  Despite all evidence to the contrary, __[Lululemon](https://robinhood.com/stocks/LULU)__ *doesn't* need Soul Cycle to sell workout clothes. Spin studios and Equinoxes were closed last quarter (Lulu's worst nightmare). But the legging legend's sales surprisingly *grew* [2%](https://investor.lululemon.com/news-releases/news-release-details/lululemon-athletica-inc-announces-second-quarter-fiscal-2020-0), even though in-store sales fell. Instead of crying over germ-avoidant shoppers, Lulu made Lululemonade with ecommerce:

- __Online sales soared 157%__ as you ordered $90 leggings and yoga tanks for that at-home pilates workout (electric blue looks great over Zoom). 
- __61% of Lulu's total sales came from online,__ compared to just 25% during the same quarter *last* year. Lulu is officially a mostly-ecommerce company.

__Luck happens when preparation meets opportunity...__ Before the pandemic, Lulu had already put in the work to flex its ecommerce muscle. 

- __Preparation:__ Online sales [already](https://snacks.robinhood.com/newsletters/5f9CgQ6e0OASVb4XOS2NoL/articles/75PhTygJY5kWlZIfo4Mafu) made up 33% of Lulu's total sales *before* lockdowns, making it well-positioned for a shift to full ecommerce. 
- __Luck:__ The stay-at-home life mainly consists of chilling, working, and exercising — all things that can be done in Lulu's athleisure wear.

"_So glad we drunk-ordered Lululemon last night_"

Stretch

__Lulu doesn't need 400+ stores anymore...__ It just proved it can grow as a direct-to-consumer company.  Lulu's in-store sales plunged 51% last quarter, even as stores reopened. But *online* sales were strong enough to overpower those losses and deliver overall sales growth. Although Lulu is committed to continue opening new physical stores, it doesn't need them to make it into your closet. Its recent [acquisition](https://snacks.robinhood.com/newsletters/q4J6y6mMs3jtkXwdTmJlG/articles/3H03bXAENNJQMZaqbIocvY) of at-home fitness company __Mirror__ could hit closer to home (literally).

Lululemon becomes an ecommerce company as online sales take over

__Didn't see this hookup coming...__ 111-year-old __[GM](https://robinhood.com/stocks/GM)__ is [investing](https://www.cnbc.com/2020/09/08/general-motors-takes-11percent-stake-and-2-billion-in-equity-in-electric-truck-maker-nikola-.html) big in e-truck maker __[Nikola](https://robinhood.com/stocks/NKLA)__. Nikola is a six-year-old hydrogen-fueled electric truck startup that *plans* to sell electric trucks (products delivered so far = 0). Since its IPO in June, the biggest news to come out of Nikola was that it started taking preorders for its 2022 Badger electric pickup. The biggest news now:

- __GM is dropping $2B for an 11% stake in Nikola.__ The investment isn't only financial — GM will actually be *producing* Nikola's trucks.
- __Nikola stock soared 40%__. GM stock popped 8%. Nikola is now worth nearly half as much as GM, despite never having delivered a profit (or a vehicle).

__Who got the short end of the gear stick?...__ At first, it seems like GM did. Not only is Nikola getting a $2B investment — it's also getting one of the world's most seasoned carmakers to crank out vehicles for it. Since Nikola went public, investors have been wondering whether it can actually deliver on the hype. With GM riding shotgun, they're feeling relieved. What does GM get?

- __A "hot" high-potential growth investment__ for its old low-growth company. Excitement for GM ended at the Chevy Corvette.
- __A sexy way to deploy__ *its own* e-battery and fuel cell systems. GM will be the exclusive fuel cell supplier for Nikola’s upcoming semi trucks.


Electrify

__The fastest way to scale is letting *someone else* do it for you...__ Designing a cool car is hard — manufacturing it at scale is way harder. GM brings the manufacturing expertise that young Nikola lacks. __[Tesla](https://robinhood.com/stocks/TSLA)__ scaled on its own, but took 16 years to produce a respectable 100K cars/quarter and *17 years* to [deliver](https://snacks.robinhood.com/newsletters/6511HaDUMXpAxjp2bEBL6w/articles/30QY0VGpvgwP9J9BKSTkLB) a full-year profit. Instead of building its own assembly lines and battery factories, Nikola can use GM's to scale faster and more cheaply.


Nikola stock soars 40% after GM makes a massive investment in its e-trucks

🧘‍♀️ Lululemon's big digital flex

__BRB, deleting Venmo...__ The US is *kind of* like that person who racked up more in Venmo requests than they can pay. US debt has been growing for decades, but it skyrocketed in the corona-conomy. From April-June, America's debt became *larger* than the size of its economy on a quarterly basis. Last week...

- __US debt reached its highest level__ relative to the size of the economy since WWII. Next fiscal year, debt is [projected](https://www.wsj.com/articles/u-s-debt-is-set-to-exceed-size-of-the-economy-for-year-a-first-since-world-war-ii-11599051137) to be bigger than the US' GDP *for the full year* — a 1st since 1946. 
- __GDP:__ [That's](https://learn.robinhood.com/articles/29d9WQgPq119raQYS1Wm6H/what-is-gross-domestic-product-gdp/#:~:text=Robinhood%20Learn,a%20set%20period%20of%20time.) the total value of all goods and services produced by a country over a period of time (usually a year). 
- __$27 trillion:__ That's America's [national debt](https://www.wsj.com/graphics/us-national-debt-visualized/). It's [~10X](https://www.wsj.com/graphics/us-national-debt-visualized/) the size of every African country's GDP *combined* and it's $82K per American.

__One shrinks, one explodes...__ The US GDP shrank at a record rate last quarter as consumer spending and manufacturing declined. Instead of that $5 Starbucks latte, you made WFH iced coffee. Meanwhile, debt ballooned:

- __Government spending spiked__ an extra [$3T](https://www.washingtonpost.com/us-policy/2020/08/07/congress-coronavirus-stimulus-trump/) this year on corona-related rescue programs. Think: $1.2K stimulus checks, enhanced unemployment, and loans to businesses.  
- __But government revenues fell__ 10% this spring compared to 2019. As corporate profits disappeared and millions [lost](https://snacks.robinhood.com/newsletters/6L8oUYD63XWJRiPR4Z6Ksd/articles/1JOaxMxJMDwJYr7IbGzC9r/) their jobs, way less payroll and income tax $$$ flowed to the government. 
- __More gov't spending + less gov't income = bigger deficit:__ The federal budget deficit is expected to hit __$3.3T this year__, more than [triple](https://www.cnbc.com/2020/09/02/budget-deficit-to-hit-record-3point3-trillion-due-to-virus-recession.html) 2019's deficit and the biggest mismatch between income & spending ever.


__Tomorrow's generations will have to repay today's debts...__ The bigger the debt, the more the US has to pay back — *with interest*. Right now, the  US ([counterintuitively](https://apnews.com/2e22a5f94e414f65429d9f91b7525c49#:~:text=Next%20year%2C%20the%20federal%20debt,the%20first%20time%20since%201946.&text=That%20amounts%20to%2016%25%20of,broadest%20measure%20of%20economic%20output)) enjoys record low interest on government debt despite the massive IOU. But in the long term, higher interest rates on debt could force the US government to cut spending on services like healthcare, education, and defense — and/or raise taxes. Big spending is necessary right now to prop up the economy, but it's trouble for future generations.


US debt will exceed the size of the economy for the 1st time since WWII

__Abnormally Happy Hour...__  __[Zoom](https://robinhood.com/stocks/ZM)__'s profit soared *3,300%* last quarter compared to the same time last year. In 3 months, the video conferencing icon made double the money that it made last year. Zoom's sales more than quadrupled to $663M and it significantly raised its full-year forecast, so investors sent the stock zooming up 40%. Zoom is growing [abnormally](https://snacks.robinhood.com/newsletters/0zpHLW1IB8pix8YUTXac2/) fast for a public, relatively mature company (even compared to other corona-conomy winners).

__Trying to sneak the Red Vines in...__ __[AMC](https://robinhood.com/stocks/AMC)__ shares soared 15% on  Friday after America's largest movie theater chain [said](https://www.cnbc.com/2020/09/02/amc-shares-rise-as-70percent-of-theaters-will-be-open-this-weekend.html) 70% of its US theaters would be open on Labor Day weekend. Chris Nolan's much-hyped thriller "Tenet" also dropped on Friday, kicking off US theaters' 1st big weekend since March and bringing in [$20M](https://variety.com/2020/film/news/tenet-box-office-opening-weekend-christopher-nolan-1234759699/). In June, AMC said it was "generating effectively no revenue" (niiice)  and doubted it could remain in business much longer. Since then, AMC stock has soared 70% on the reopening hype.


__Elon gets rejected from the club...__ __[Tesla](https://robinhood.com/stocks/TSLA)__ stock [plunged](https://www.cnbc.com/2020/09/04/tesla-falls-after-sp-500-adds-etsy-and-two-others-bypassing-carmaker.html) 7% Friday on news  that the [S&P 500](https://learn.robinhood.com/articles/7kFFEUv46vmMCmMfLuNiRX/what-is-the-s-and-p-500/#:~:text=The%20S%26P%20500%20is%20like,millions%20of%20stock%20market%20activities.) added __[Etsy](https://robinhood.com/stocks/ETSY)__ to the famous index, but *not* the e-car maker. Tesla became eligible for an S&P 500 Club invite in July after [posting](https://snacks.robinhood.com/newsletters/6511HaDUMXpAxjp2bEBL6w/articles/30QY0VGpvgwP9J9BKSTkLB) 4 straight profitable quarters. If Tesla *did* get in, funds that track the S&P would need to buy over [120M](https://www.cnbc.com/2020/09/04/tesla-falls-after-sp-500-adds-etsy-and-two-others-bypassing-carmaker.html) Tesla shares, likely driving up the stock price. Turns out Elon hasn't made it past the S&P bouncer yet. 

__Throwing profit puppies out the emergency exit...__ *Desperate move.* __[United](https://robinhood.com/stocks/UAL)__ said it's permanently [dropping](https://snacks.robinhood.com/newsletters/7o4Om1Hzq8GXG0zovTZVwd/articles/2lN1BN3aZ8PX3uFiW5SxJA/) its $200 change fee for domestic flights. __[Delta](https://robinhood.com/stocks/DAL)__ and __[American](https://robinhood.com/stocks/AAL)__ predictably followed suit. Profitable add-ons like change fees have 5X'd over the past decade and made up 15% of US airlines' sales last year. Buuuut: travel is still down ~60% from 2019 and airline bailout money runs out in October. Between pandemics, hurricanes, and fires, booking a flight with a $200 change fee is... *risky*. Airlines hope that killing those fees will boost sales.

_When the 2020 credit card statement arrives_

🏦  America's massive debt dilemma 

__Cream of Mushroom Mondays...__ *followed by Tomato Bisque Tuesdays*. __[Campbell](https://robinhood.com/stocks/CPB)__ was feeling like Souperman back in March after people started [stocking](https://snacks.robinhood.com/newsletters/2p7mRmqVVFiLJPwVlHXfcT/articles/4SfcbHp5u7jngjQt0s9Kjd/) up on its pantry classics. The pandemic sales jump was driven by Millennials buying soup, "a trend that many believed was not possible," according to Campbell's CEO. Now, he believes in his shelf.

- __+1%:__ The quarterly sales growth Campbell posted in March. Sounds underwhelming — actually *fantastic* for a company whose soup sales have fallen 8 out of the past 9 years.
- __+17%:__ Campbell's wild June quarter growth. People hoarded its pantry products including: Snyder's pretzels, Goldfish crackers, and Pop Secret popcorn (*claaassic* Netflix lineup).
- __+12%:__ What Campbell just [reported](https://www.wsj.com/articles/campbell-sees-demand-tempering-in-coming-quarters-11599138385?mod=business_lead_pos7) for its latest quarter. Sales of soups, Prego sauces, and V8 juices soared 19%. Despite those tasty numbers...

__Campbell stock fell 7% Thursday...__ That's because demand for its products is *slowing* after the months-long surge.  Campbell’s CEO hasn't lost hope:  soups and broths are still being used to cook "more modern" dishes (think: Chicken Noodle + cauliflower rice). But are cauli recipes enough to hold onto the Millennial shoppers gained during the pandemic?


_When the Campbell Soup delivery arrives_

Slurp

__Customer retention is hard...__ especially when your customer growth was fueled by pandemic panic. Campbell is expecting its sales slowdown to continue as we return to a lifestyle that doesn't involve can-hoarding. Young people are eating out more often and eating fresher foods — more frequent grocery trips, less once-a-month hoarding splurges. Campbell hasn't done much Millennial-friendly culinary innovation to retain its new cohort of Soupers.


Campbell's make-or-break Millennial soup moment

__Hold the (combusting) phone...__ We spot a trend. __[Kodak](https://robinhood.com/stocks/KODK)__ wants to manufacture drug ingredients. __[Nestlé](https://robinhood.com/stocks/NSRGY)__ bought a biotech company.   __Samsung__... *is building a $2B drug plant*. The massive Korean conglomerate, most famous for Galaxy phones, also has a massive drug-manufacturing arm. Because if you don’t have a drug-related division during a pandemic, *what are you even doing*? 

- __Samsung entered the pharma game late,__ but has aggressively expanded as corona drug manufacturing needs heat up. Now it's working on potential COVID treatments.
- __Samsung Biologics' manufacturing orders nearly 3X'd__ to $1.5B last quarter. *“Covid-19 is giving us more opportunity than crisis”* — empathetic leader of Samsung Biologics.
- __"Super Plant":__ Not a plant-based burger company. Samsung is building a $2B drug manufacturing plant that'll be the *largest in the world* when completed in 2022. 

__Getting AP Bio flashbacks...__ The award for most complex corporate structure goes to Samsung.  Its Biologics biotech division  makes meds for some of the world's largest pharma companies — yet it's just *one of many* stars in Samsung's corporate galaxy.

- __Samsung consists of ~80 companies__ with different stocks traded on the South Korean stock market.
- __Samsung covers over a dozen industries__ including: life insurance, ship building, resorts, fashion, and asset management. Even Bezos can't keep up. 


Build

__Samsung does *a lot*...__ But in the US, Samsung's largely overshadowed by __[Apple](https://robinhood.com/stocks/AAPL)__. Apple [lets](https://snacks.robinhood.com/newsletters/2iRXx4Lo0sb4Xj39ZUGriE/articles/45yG4eIyAVpA5q3uf5jddO/) you get rid of Safari as a default browser on iPhone and the crowd goes wild. Samsung [releases](https://www.cnn.com/2020/09/01/tech/samsung-galaxy-z-fold-2-price/index.html) a foldable glass phone and the hype is... *not really hype*. But Samsung sells more smartphones [globally](https://www.idc.com/promo/smartphone-market-share/vendor) than any other company. It *also* runs some of the world's largest biotech and building companies — and it makes up 11% of South Korea's economy. 


Samsung is building Earth's largest drug manufacturing plant (Samsung does a lot)

🍜 Campbell's Millennial soup moment

__*Your move, girl*...__  __Bumble__, the dating app where women have to make the first move, is open to pursuing a public relationship with investors (opposite of going "exclusive"). The beehive-themed dating & networking company is [reportedly](https://www.forbes.com/sites/sergeiklebnikov/2020/09/02/yet-another-ipo-bumble-eyes-going-public-in-2021-with-a-valuation-of-more-than-6-billion/#3534c716d087) planning to IPO at a $6B-$8B valuation in early 2021. Dating is hard — it's even harder during a world-shattering pandemic: 

- __No more Friday dinner night out:__ Instead, you're eating TJ’s pad thai in bed while aggressively swiping. That drives engagement for Bumble and Tinder/Hinge-owner __[Match](https://robinhood.com/stocks/MTCH)__.
- __No more eye contact across the dance floor:__ Global online dating was up [82%](https://www.cnbc.com/2020/05/25/why-the-coronavirus-might-change-dating-forever.html?utm_source=morning_brew) in March, as you made eye contact with 837 Tinder profile pics instead. 
- __No more physical connection:__ All you need is a strong WiFi connection. Bumble video chat usage soared 93% after a national emergency was declared.

__It's a great time to DTR...__ with investors. While in-person meetups are dead, the need for *looove* isn't. So dating apps are thriving. Both Bumble and its publicly-traded rival Match make most of their $$$ from paid subscriptions (Bumble Boost, Tinder Plus) – these have grown during the pandemic.

- __Match stock has soared almost 700%__ since its 2015 IPO, and 40% since January alone.  
- __Bumble now has over 100M users worldwide__ — it's hoping public investors will want to match with it, too.


"_I just didn't feel a strong WiFi connection with him_"

Swipe

__Online Dating’s stigma is gone, thanks to COVID...__ We've gone from "we met at a bar" lies to Bumble-themed weddings where you swipe to RSVP (#loveatfirstswipe). There's now more stigma around going to a bar than video chatting with a stranger on Tinder. [~40%](https://qz.com/1546677/around-40-of-us-couples-now-first-meet-online/) of all relationships in the US start online. Since the chances of meeting someone in person are slimmer than ever, that number will likely jump faster. Bumble could find long-term love on the public market.


Bumble is reportedly planning to IPO — let's talk dating in corona-times

__They never have free samples *anyway*...__ Just one day after __[Walmart](https://robinhood.com/stocks/WMT)__ [unveiled](https://snacks.robinhood.com/newsletters/0zpHLW1IB8pix8YUTXac2/articles/NZ5JbEKhA5LoLo0zMmYw6) its Amazon Prime competitor Walmart+, __[Amazon](https://robinhood.com/stocks/AMZN)__ is one-upping its grocery rival (claaaassic Bezos). On Tuesday, the Zon will [open](https://www.cnbc.com/2020/09/01/amazon-to-open-first-online-only-whole-foods-store-in-brooklyn.html) its 1st online-only Whole Foods store in Brooklyn. It's basically a Whole Foods that you're not allowed in (no Nuts & Seeds section "browsing"). It'll only be used by Amazon employees to fulfill e-grocery orders in the area. 

- __Amazon operates over 500 Whole Foods__, offering online grocery delivery from its stores.
-  __Amazon's online grocery sales tripled__ last quarter, because, quarantine. 

__Getting some bang for its billions...__ Amazon acquired Whole Foods in 2017 for nearly $14B to sow its grocery oats. That acquisition has lettuce down. Amazon hasn't done much with it besides giving Prime members free grocery delivery and 10% off sale items. But this "Ghost Grocery" warehouse concept could speed up deliveries *and* ensure that the maple almond butter you want is in stock — instead of asking if you want PB, instead.


Order

__This could be Amazon’s big grocery advantage...__ over Instacart, Walmart, and DoorDash. E-grocery shoppers have to go *into* stores just like you and us to pick out your goodies before delivering them — that's not very efficient. 

- __Speed:__ All that pushing between shopping carts, little kids, and cheese-gawkers slows the process down. That doesn't happen in a Ghost Grocery.
- __Reliability:__ In regular stores, there's a decent likelihood that the pesto you ordered is gone. In Ghost Groceries, supplies are closely monitored (and no one storms the pasta aisle).
- __Price:__ This more efficient fulfillment method could allow Amazon to lower prices *or* rake in more profit.

Amazon opens its 1st online-only Whole Foods: Ghost Grocery is coming

🐝 Bumble swipes right on IPO

__Corporate Happy Hour has never been happier...__ __[Zoom](https://robinhood.com/stocks/ZM)__ absolutely smashed earnings last quarter (for a reason that requires no explanation). In just 3 months, the videoconferencing service made double the amount of money that it did during its entire 2019 fiscal year:

- __+355%:__ Zoom's quarterly sales more than *quadrupled* compared to the same quarter last year, clocking in at $663M. Sales for its *entire* 2019 fiscal year were [$331M](https://www.forbes.com/sites/petercohan/2019/04/11/zoom-has-mastered-the-art-of-profitable-growth/#634f43b31bd0). Womp.
- __+3,300%:__ Zoom's quarterly profit was almost *33X* bigger, coming in at $186M compared to $5.5M last year. Double womp.

__Zoom, zoom, zoom...__ Investors brought Zoom to their room on Tuesday, sending the stock soaring 40%. Zoom's [market cap](https://learn.robinhood.com/articles/GByCbiOluG2kcWs1AF6m5/what-is-market-capitalization/) is now $129B, up from $25B a year ago. It's worth more than __[IBM](https://robinhood.com/stocks/IBM)__ and __[Lyft](https://robinhood.com/stocks/LYFT)__ *combined*, or as much as four Twitters. Why the wild stock surge?

- __Wild growth:__ Sure, other corona-conomy winners like __[Netflix](https://robinhood.com/stocks/NFLX)__ and __[Clorox](https://robinhood.com/stocks/CLX)__ did *well*. Compared to Zoom, their  growth was as yawn-worthy as a beachside virtual background.
- __Wild forecast:__ Zoom significantly upped its full-year growth forecast. Corona winners like Netflix and Home Depot didn't, suggesting they may have passed peak pandemic surge. 
- __Wild situation:__ Zoom investors believe you'll be Zooming into the future, whether you stay remote or return to the office.


_Corporate happy hour intensifies_

Soar

__This is abnormally fast growth...__ for a publicly-traded, relatively mature company. For reference, let's look at some best quarters from the past: __[Apple](https://robinhood.com/stocks/AAPL)__ killed it in 2008 with iPhone 3 and 90% sales growth. __[Facebook](https://robinhood.com/stocks/FB)__ liked itself in 2014 with 72% growth. Netflix won an Oscar in 2011 with 50% growth. Zoom *slayed* in 2020 with 355% growth. Zoom is growing abnormally fast because its product was/is positioned to thrive during these abnormal times.

Zoom's quarterly profit soars 3,330% as abnormal becomes its normal

__We promise this isn't about Amazon...__ *Suuureee.*  __[Walmart](https://robinhood.com/stocks/WMT)__ unveiled the [deets](https://corporate.walmart.com/newsroom/2020/09/01/walmart-introduces-walmart) of its Amazon Prime subscription rival, Walmart+ (creative). The service launches on September 15th and costs $98/year, less than Prime's $119 price tag (*take that*, Bezos). Here's what's in the cart: 

1. __Unlimited free delivery:__ Free delivery from Walmart stores for over 160K items, from groceries to tech (with a $35 minimum order). Walmart's driving it up "as fast as same-day." 
2. __Scan & Go:__ Scan bananas and t-shirts using the Walmart app in stores, then pay in-app for a cashierless-experience (can see this one going wrong — #fakescan).
3. __Fuel discounts:__ Save up to 5 cents a gallon (*wow*) at 2K gas stations.

__*But does it come with TikTok?*...__ Walmart wants to [acquire](https://snacks.robinhood.com/newsletters/1sZSwbS9b5DXGz9TyTXaej/articles/50EAPzOLrKesfwEo52Wnx9) TikTok to leverage its massive ecommerce reach (wait for it — *to crush Amazon*). Walmart+  is yet another play to compete with the 'Zon. Prime is the secret sauce of Amazonian success, because perk-filled subscriptions are loyalty builders. 


Subscribe

__This isn’t a Prime-killer, but it might stop the bleeding...__ Let's be honest: these perks probably won't win Walmart new customers. But they might keep *existing* customers from ordering more on Prime — *especially when it comes to grocery delivery*: 

- __Walmart makes over half its sales from groceries__ and is the US grocery leader. Its online grocery biz has been growing dramatically. Buuut...
- __[Over half](https://snacks.robinhood.com/newsletters/7npBg6WCh7X1ssgq9cuRtt/articles/5KSLxwetQ3mOFHvXF6Jnl9) of Walmart’s top-spending families have Prime memberships__ — since they're paying $119/year, they might as well use Amazon's free grocery delivery instead. Walmart's hoping Walmart+ will keep them loyal.

🚢 Carnival sinks its own stock

🎵 TikTok chooses Oracle (as chaperone)

💉 Covid-19 vaccine: the final phase

🏈 Postmates wins NFL marketing

💍 Breakfast at Tiffany's: Canceled

🧘‍♀️ Lululemon's big digital flex

🏦 America's massive debt dilemma

🍜 Campbell's Millennial soup moment

🐝 Bumble swipes right on IPO

💻 Zoom's happiest hour