Morning Brew Daily Meme Stock Surge Fizzles Out & Netflix Scores Massive NFL Deal
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May 16, 2024 The latest inflation report shows hope, but celebration is premature. AMC uses the meme stock buzz to reduce debt, even as its stock tumbles. Netflix makes waves with a deal to stream NFL Christmas Day games, signaling a shift in sports broadcasting. The podcast also touches on rising overdose deaths, the complexities of internet use, and the trend towards raw milk. A troubling wave of fake science prompts retractions in academia. Plus, Francis Ford Coppola's long-gestating film is finally set to premiere at Cannes.
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Inflation Eases but Remains High
- April's inflation eased slightly, offering relief and hope for interest rate cuts.
- However, inflation remains above normal, and the Federal Reserve is far from declaring victory.
Meme Stock Rally Fizzles
- The meme stock rally fizzled out, with GameStop and AMC falling after initial surges.
- AMC leveraged the rally to reduce debt through a debt-for-equity swap.
Netflix Embraces Live Sports
- Netflix secured a deal to stream NFL Christmas Day games, marking a shift in their stance on live sports.
- This move aligns with Netflix's growing focus on ad-supported content.