The buzz is true about Martha Stewart
She’s always been a rebel
At 77, Stewart is a well-known animal lover who co-hosts a cooking show with rapper Snoop Dogg. We’re not even kidding. So, maybe it makes sense that she’s going to be the face of one of the world’s biggest pot purveyors? We do know that Canopy Growth knows how to make bold decisions – and the markets react. Shares for both Canopy Growth and Sequential Brands Group Inc (which owns the Martha Stewart brand) surged last Thursday after the collaboration announcement.
What’s good for the goose
Or the pug, cat, rabbit and gerbil just might be good for us. Canopy is conducting a bunch of clinical trials exploring how cannabis compounds can improve both human and animal health. This includes research into the effectiveness of CBD – yes you’ve heard a lot about it lately – a non-intoxicating compound used to treat anxiety in animals. Cannabidiol has been trending over the last year and is believed to help with everything from stress to inflammation and insomnia. They’re also looking at hemp as an easily digestible protein that can be added to pet food. We have to admit, we’re looking forward to seeing what Martha cooks up in the Canopy Growth kitchen - some incredible edibles no doubt!
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Lyft off: Bye Uber
Last Thursday ride-hailing company Lyft beat rival Uber Technologies in filing for an initial public offering (IPO), leading a pack of billion-dollar-plus tech companies expected to join Wall Street over the next year.
Better than Uber?
Lyft was founded in 2012 and operates in more than 300 cities in the US and Canada. They are hoping investors will be tempted by their user base (a meagre 23 million), not to mention nearly doubling their market share to 39% of ride shares since 2016. Their revenues doubled in 2018 to $2.2bn, that said, rising costs (an astronomical 77%) indicate that Lyft has been putting its money into operations, research and marketing with losses to the tune of, get ready to gasp: $911.3m.
Popular but not profitable
Lyft’s IPO tests investors’ appetite for ride-hailing businesses, which have obviously become a wildly popular service but still remain unprofitable. Last valued at about $15 billion, San Francisco’s Lyft didn’t say how many shares it would be selling or the price range. They’re expecting to go public this quarter, and their valuation is likely to be between $20 billion and $30 billion. Other exciting IPO debuts to expect are Airbnb Inc, Palantir Technologies and Stripe Inc. Uber moved its target IPO date up from the second half of next year to the first half. The race is on! And everybody’s watching…and waiting.
George Soros knows a thing or two
And we’re not just talking about how to piss off the right. A few weeks ago, we covered Warren B in our Invest like the Best series of blogs – well, now we’re looking to you, Georgie.
A survivor’s spirit
There’s something beautiful about a self-made man narrative, particularly if it involves escaping Nazis in Budapest and helping fellow Jews escape too. We won’t give it all away here, because we really want you to read the article, but just know that Soros is legitimately amazing thanks to his incredible backstory. There’s no silver spoon here.
We love the feel-good story that Soros brings to the table, but how about them conspiracies? From funding Kavanaugh protesters to using funds from Prince’s estate to topple Trump with Hillary, there’s a lot of hype around Soros. Don’t believe everything you read. Instead, read our blog, and we’ll tell you why he’s so dope (yes, that’s a reference to his stance on the legalisation of pot, BTW).