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One of the greatest beneficiaries of Covid was Peloton, the bike with an iPad on it that costs thousands of dollars. “Investors” forgot that Americans prefer to sit around and eat Ruffles and watch the tee-vee instead of exercise, but for some reason they figured we would all get on our Pelotons and get fit ‘n’ trim. Well, it didn’t quite work out that way, and the company has lost 99% of its value.
Shame on me. Starbucks (SBUX) was an amazing setup. Added to which, I think their product is swill, and out of the past 1,000 coffee beverages I have purchased, MAYBE one of them was from this McDonald’s of coffee vendors. It’s just a bunch of fat and sugar-based beverages for Americans to guzzle down in a desperate attempt to feel happy for a moment or two, only to make themselves even fatter than they were before they lumbered inside.
If you’re curious why this failed country is $36 trillion in debt (actually hundreds of trillions……) it’s because of stupid crap like this:
During the after hours session, far and away the most boring non-event was, ironically, the one everyone was watching: Amazon. The US Treasury market is about fifty times more exciting than this former dynamo, and you’ve got to feel sorry (well, not really……….) for all the goofballs who YOLO’d their way into aggressive short-dated options positions, hoping for some kind of home run. The only winners were the options SELLERS. Everyone else got the Dirty Sanchez.
It seems that a business model of renting textbooks would have been amazing in the 1970s and 1980s, but these days………..not so much. This 96% wipeout is a catastrophe, and I can’t imagine this thing still existing in a year or two. I’m sure the founders cashed out near the top and are fine, though.
