Nov 3, 2021 Sign Up

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"Sometimes magic is just someone spending more time on something than anyone else might reasonably expect." — Raymond Joseph Teller

Good morning! Meme stocks are back with Bed Bath & Beyond surging more than 80% in extended trading on Tuesday following the news of a collab with Kroger. Uber has partnered with buybuy Baby to deliver baby items like diapers to you on its Uber Eats app (y tho). Meanwhile, Chipotle is testing out a new chicken item for the first time in 28 years. The Pollo Asado will be available at 95 locations in  California and Ohio.

If you are in the market for jeans, check out today's sponsor, Revtown, who are changing the jean game by infusing it with a touch of athletic stretch.

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1. Story of the Day: Nike Goes Meta

After Zucc goes full Meta, others like Nike are trying to catch up. Nike filed trademark applications last week that indicate it wants to sell digital versions of its sneakers, clothing and other goods stamped with its swoosh logo in virtual worlds, such as videogames or other online platforms.

The new trademarks also provide Nike extra protection in the event others attempt to use the brand in an unlicensed way.

Nike also recently posted openings for a virtual material designer of footwear and other virtual design roles. The positions posted on Oct. 23rd said, “this role sits in the Digital Product Creation group, a team focusing on igniting the digital and virtual revolution at Nike.”

This is also not Nike's first digital adventure. In May 2019, the Jordan brand partnered with Fortnite, where characters wore Nike-branded sneakers. Nike has also had several collaborations with the online gaming platform Roblox.

The company is still waiting on a patent filed in April 2019 for “Cryptokicks,” which Nike plans to use as a nonfungible token.

Short Squeez Takeaway: With Facebook (we can't get used to Meta for a while smh) and Nike making moves in the metaverse, we expect other brands to follow suit soon and start charging obscene amounts of money for JPEGs of their products. The digital revolution is well under way.

Source: Bloomberg

2. Markets Rundown

• Stocks moved mostly higher over the course of the trading day on Tuesday, with the major averages once again reaching new record closing highs.
• The strength that emerged on Wall Street partly reflected recent upward momentum, as traders reacted to another batch of upbeat earnings news.
  

Movers & Shakers

• (+) Alibaba ($BABA) +6% after it announced that it has created a custom computer chip that will be used to power its data center servers.
• (+) ChargePoint ($CHPT) +6% after Stifel initiated coverage with a buy rating.
• (–) Ulta ($ULTA) -11% after the company released long-term financial targets during its investor day.

3. Top Reads

A Message from Revtown: The Revolutionary Jeans

Ex-Under Armour Execs are changing the game for jeans. How? By taking tried-and-true denim and infusing it with a touch of athletic stretch.

After years in athletic apparel, Revtown’s founders decided to take the best parts of workout clothes—think comfort, flexibility and durability—and apply them to denim. The result? Crazy comfort and solid style at a killer price.

You get the point. These jeans can do it all. But don’t take our word for it—try them for yourself. Revtown jeans are delivered directly to your door, which means no retail markup—just great jeans at a fair price.

Plus, domestic shipping and returns are free, so you have nothing to lose.

Slip your thighs into some Revtowns and see for yourself.

4. Book of the Day: Factfulness: Ten Reasons We're Wrong About the World and Why Things Are Better Than You Think

When asked simple questions about global trends―what percentage of the world’s population live in poverty; why the world’s population is increasing; how many girls finish school―we systematically get the answers wrong. So wrong that a chimpanzee choosing answers at random will consistently outguess teachers, journalists, Nobel laureates, and investment bankers.

Our problem is that we don’t know what we don’t know, and even our guesses are informed by unconscious and predictable biases. It turns out that the world, for all its imperfections, is in a much better state than we might think. That doesn’t mean there aren’t real concerns. But when we worry about everything all the time instead of embracing a worldview based on facts, we can lose our ability to focus on the things that threaten us most.

5. Short Squeez Picks

• How I invest my money: Peter Lazaroff podcast
• Being well when you're alone is a superpower
• A framework for valuing Bitcoin

6. Daily Visual: Global Battery Vehicles Sales

7.  Daily Acumen: Life lessons

Make yourself necessary and you will always be needed. If you want to feel successful, learn to create, innovate or design something other people can use and need.

Your thoughts are like boomerangs. What you pass along to others is what will come back to you.

You are more defined by what comes out of your mouth than what goes in it. The way you speak and the things you say have power. Speech gives us the power to create or destroy.

The journey of your success will always begin with the small step of taking a chance. In business, in relationships, and in life, it all begins with a small step grounded in a desire to be better and do better.

Source: Inc

8. Memes of the Day

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