🍋 Furry Office Neighbors
More workplaces are allowing employees to bring their 4-legged best friends to work. Zendesk is going private. Revlon is officially a meme stock – jumping 615% shortly after reporting bankruptcy. Airports are feeling the summer heat and Fed’s stress test on banks turned out to be A-Ok.
Good Morning! Hope you had a great weekend! In a choppy environment for public markets, Zendesk agreed to go private at a $10.2 billion valuation. Market turbulence doesn't phase meme stock traders though, who are flocking to Revlon. Revlon filed for Chapter 11 bankruptcy protection, and subsequently saw their stock shoot up 615% thanks to the cultural movement. Alos, more workplaces are allowing employees to bring their 4-legged best friends to work.
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1. Story of the Day: Furry Office Neighbors
Have you loved working from home because you've gotten to spend more time with your four-legged best friend? Getting frustrated now because your boss, who's not a good boy, is telling you to get back to the office? Well, don't worry. Dogs in the office are becoming more commonplace in the office space!
According to a survey done by Cesar Canine Cuisine, more than 23 million households added a pet recently, as remote work allowed for the opportunity to care for an animal that people may not have had before. Workers hope to start bringing their puppy pals to the office with them now.
Surveyed workers said bringing a dog to work would encourage them to take breaks (55%) and increase social interaction at work (52%.) With 89% of people surveyed saying it's important for them to continue spending time with pets during the workday, employers are taking notes.
The International Foundation of Employee Benefit Plans' ongoing research shows that the number of workplaces allowing pets has increased since 2020. Beth Stultz-Hairston, Pet Sitters International president, said, "Now, more than ever, employers are looking for ways to boost employee morale."
Short Squeez Takeaway: Friday is the annual National Take Your Dog to Work Day, so when you grab your morning Starbs, get your pup a puppaccino, and show them off. Don't forget to be extra productive though, so that these policies can stick.
2. Markets Rundown
Equities ended the week higher, snapping a three week losing streak as consumer sentiment seems to have bottomed. Crypto was also able to ride these vibes to being up over the weekend.
Movers & Shakers
- (+) Carnival Cruise Lines ($CCL) +12% after the company said its Q2 booking volumes were at their highest levels since the pandemic.
- (+) FedEx ($FDX) +7% because the company expects adjusted earnings to rise in its current fiscal year.
- (–) LendingTree ($TREE) -8% after lowering second quarter guidance with revenue down to between $259 and $264 million, from between $283 to $293 million.
- Airbnb launches $10 million OMG! fund for the world’s craziest listing ideas
- Ankler, digital media start-up, raised $1.5 million at a $20 million valuation
- Apptronik, that is developing robots to replace human workers in the manufacturing, raised a $14.6 million seed round
- August Health, SaaS platform manages care and compliance for senior residents, raised a $15 million Series A round
- Finhay, investment platform for Vietnamese consumers, raised a $25 million Series B round
- ESG Book, with sustainability and ESG data of more than 25,000 public companies, announced $35 million series B round
3. Top Reads
- Every new passenger car sold in the world will be electric by 2040 (CNBC)
- El Salvador’s $425 million bitcoin experiment isn’t saving the country’s finances (CNBC)
- Fear has gone missing in Wall Street’s slow-motion bear market (BB)
- Japan loves private equity (Axios)
- Slowly but surely, golf finds that sustainability is a winning formula (BB)
- Beer bars turn to coffee to draw crowd (WSJ)
- Why does a hard workout make you less hungry? (NYT)
- Why summers keep getting hotter? (Vox)
- How closely do oil and gas move together? (Fred)
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5. Short Squeez Picks
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6. Daily Visual: Percentage of Teams with Foreign Majority Owners
7. Daily Acumen: Golden Question
You can use the golden question in challenging situations.
The golden question is actually five questions in one, and goes like this:
When you need to make a decision under emotional circumstances, ask yourself:
How will I feel about this in:
Suppose you are in a satisfying relationship. Everyone has their moments with their significant other but nothing you haven't been able to work through.
But today is a bad day for both of you. You are tempted to respond to a cutting remark with something that will hurt your partner.
Before you do, you ask yourself:
How will I feel about this in a day?
Not good, but (s)he deserved it.
... a week?
Wow. This is the longest fight we've ever had.
... a month?
Maybe I shouldn't have said what I said.
... a year?
I can't believe we're breaking up.
... five years?
I wish I could have that day back.
8. Crypto Corner by Bonkalytics.com
- Eminem and Snoop Dogg turn into BAYC chars in new music video
- Crypto exchanges hunker down as everything goes wrong in India
- Crisis in crypto lending shines light on industry vulnerabilities
- Voyager’s 60% share price plunge leads sea of red for crypto stocks
- Why margin calls and bot liquidations are roiling crypto
- FTX may be planning to purchase a stake in BlockFi
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9. Memes of the Day
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