Here are the top 3 moments from Power Lunch this week:
1. Retail Roller Coaster
It was a wild week for retail stocks.
A shorter holiday season and shrinking sales hurt some big names…but others stayed strong.
Home Depot, Kohl’s, and Macy’s missed the mark.
But let’s not yell “death of the consumer” just yet.
Target, Lowe’s, and Nordstrom delivered solid earnings beats.
Former Macy’s CEO Terry Lundgren shared his top picks in the space.
2. Crypto Crash Course
Bitcoin got crushed this week.
What went wrong?
- China cracked down on crypto…weeks after saying it would embrace blockchain technology.
- Miners were forced to sell their coins in order to cover costs.
- Regulatory headwinds continued to shake investors.
Brian Kelly delivered a crash course on the crypto carnage.
3. Got Fake Milk?
The fake food frenzy raged on as plant-based disruption continued to sour the dairy industry.
In the last few weeks, America’s largest milk producer, Dean Foods, filed for bankruptcy and top yogurt brand, Chobani, announced its expansion into oat-based products.
Here’s the problem in a nutshell: People are drinking less “real” milk, and sales of plant-based alternatives have soared.
There’s just too much “fake” milk competition: oat, soy, almond, coconut…the list goes on.
The National Milk Federation has called for more regulation (need to protect that Cash Cow) and said these plant-based products should not be called “milk.”
Is dairy really dead?
Tesla’s major truck-up…
Tesla unveiled its new “cybertruck” this week.
Response was mixed with Bernstein’s Toni Sacconaghi saying it “looks weird…like, really weird.”
Meanwhile, Canaccord Genuity’s Jed Dorsheimer said “the unique futuristic design will resonate with consumers, leading to solid demand.”
Many expected a breakthrough, but not like this…
A demo of the truck’s bulletproof windows failed and resulted in…broken windows (and some hearts).
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