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90 Second News Issue #22
Howdy everyone! Get that extra shot of espresso in your coffee this morning. Trust us.
In our newsletter yesterday we talked about waiting on vaccine news from Moderna this week, and apparently they’re very punctual. Not only did they announce a successful phase 3 vaccine yesterday, but it had a shocking 94.5% success rate. This places it as the most successful of the three, ahead of both Pfizer’s (90%), and Sputnik V from Russia (92%). We heard the Russian vaccine was endorsed by Putin, so we’ll probably avoid that one.
Early Monday evening, the S&P Dow Jones Indices released a statement indicating that Tesla would be added to their famous S&P 500 index used by traders worldwide as a measure of market strength. To be eligible, they had to have a market cap of $8.2bn, be “highly liquid”, and have a public float of at least 50% of its existing shares. Shares were up 10% aftermarket on the news.
Or does it stand for Boy Scouts of America? At this point we don’t know. Recently, over 92,700 cases of sexaual abuse have been filed against the bankrupt organization as more and more members come forward to spread awareness. The BSA national chairman, Jim Turley, said in a statement, “The BSA cannot undo what happened to you, but we are committed to supporting you and to doing everything in our power to prevent it from happening to others”
1:02- Walmart is going virtual
Over the past six months, Walmart has left portions of three different geographical regions (Asia- Japan, Europe- UK, and South America- Brazil & Argentina) as the retail giant begins to pivot to more online sales. This represents a high risk move, as Walmart has worked tremendously hard to gain space in the early 90s and 00s, and sold these businesses at a combined loss of over $4bn. On the other hand however, online sales are up 98% YoY.
Once regarded as one of the mold breakers in the streaming category, Hulu has fallen trap to the same pitfalls as cable TV. It is now the highest cost streaming service with an ad-free cost of $71 a month.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
Have any questions, comments, concerns? Email us at team@90SecondNews.info
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