Monday’s Headlines: Amazon’s Prime Day Problems?

Monday’s Headlines: Amazon’s Prime Day Problems?

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

DocuSign (DOCU) +5.3%

Lemonade (LMND) +4.7%

Roku Inc. (ROKU) +4.6%

Trupanion (TRUP) +4.0%

ShotSpotter (SSTI) +3.7%

Moving Down ⬇️

Axos Financial (AX) -5.9%

Nordstrom (JWN) -4.5%

GoPro (GPRO) -3.8%

Stitch Fix (SFIX) -3.8%

Constellation Brands (STZ) -3.7%

1. Following the COVID-induced chaos of a delayed Prime Day in 2020, Amazon’s (AMZN) supply issues may be no better this time around. The company’s two-day discount extravaganza kicks off this morning, but already reports are flooding in of widespread supply chain issues that are making it more challenging to stock stores and distribution centers and keep up with consumer demand. The ripple effect of COVID on global supply chains is largely to blame, as well as an increase in labor shortages for production as employers struggle to convince staff to return. It looks like your 30%-off Alexa will have to wait. Read the full article here

2. Spotify’s (SPOT) acquisition spree continues after the streaming giant announced its purchase of startup Podz. The podcast discovery firm will help improve Spotify’s burgeoning business in this space through the use of Podz’ audio newsfeed, which provides listeners with 60-second preview clips — similar to a song sample. In a statement from Spotify: “We are investing to build and scale the world’s best (and most personalized) podcast discovery experience. We believe that Podz’ technology will complement and accelerate Spotify’s focused efforts to drive discovery, deliver listeners the right content at the right time, and accelerate growth of the category worldwide.” Read the official release here

3. Following the acquisition trend, Ford Motors (F) also made its own purchase last week in the form of battery management and fleet monitoring software startup Electriphi. Although details of the acquisition were not disclosed, it is believed that the three-year-old business will help Ford to capture more than $1 billion in revenue just from charging by 2030.  “With Electriphi’s existing advanced technology IP in the Ford Pro electric vehicles and services portfolio, we will enhance the experience for commercial customers and be a single-source solution for fleet-depot charging,” said Ford Pro CEO Ted Cannis.

JamieJamie

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