Seems not even a frenzied mob may halt Netflix’s (NFLX) limp biscuit subscriber numbers. Yet while far from trainwreck territory, their subscriber slowdown is yet to make its toxic seep into Mickey’s house. Last week the more family-friendly affordable Disney+ (DIS) service announced they’d welcomed 14.4 million new subscribers to their 152.1 million in the quarter, beating analyst predictions by 44%. The news fired up the legacy entertainment company’s share prices 12%. 🔥 A stark contrast to Netflix 1 million subscriber losses in the same quarter.
Meanwhile, as climate change continues to wreak havoc, turning even England’s green and pleasant lands into chariots of fire, it seems that sustainability efforts have yet to pull the brakes. 🛤️ Chinese fast fashion giant Shein is hurtling down the tracks despite accusations of ‘unethical practices’. Their sales have grown 64% year-on-year, earning them the number two fashion ecommerce spot. And according to Apptopia, they’re 25% ahead of Amazon (AMZN) for app downloads, sliding into second place globally behind the ‘Amazon of China’, JD.com (JD).
Celebrity-backed plant-based foods that boast a cult-like status, Beyond Meat (BYND), Tattooed Chef (TTCF) and Oatly (OTLY), can’t seem to stop Mother Earth careering full steam ahead into climate calamity either. Beyond Meat is yet to curb our enthusiasm for beef, with consumers feeling inflation’s pinch choosing ‘cheaper protein options’. 🥩 Despite the Tattooed Chef’s revenue moving up 15.6% year-on-year, they’ve missed analysts’ expectations by 9.2% and fallen nearly 20% below their last quarter earnings, leading #finfluencer Daniel Pronk to trash talk them, saying their stock value may shrink to US$0.
And yet despite dairy prices slowing down, Oatly’s share price is coming off the tracks, nearly 80% down since listing in 2021, and recently they’ve rejected claims by Spruce Point Capital that they’ve misled investors. Not great news for Coinbase (COIN) investor Garry Tan, who invested in the milk alternative, and who’s just seen the crypto exchange nearly derail after $1 billion losses. Here’s hoping we don’t find him under a bridge downtown warming his tootsies on an out of control fire. 🧯