TLDR
Why Your Car Got Stolen
Jul 23, 2024
Former hedgefunder Matthew Karasz and hosts discuss the rise in car thefts in Canada, Nike's financial struggles, the return of small caps in the stock market, and reflections on the unpredictability of investments.
22:00
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Quick takeaways
- Nike faces financial challenges due to market cap drop and losing coolness in shoe markets.
- Car theft in Canada has decreased by 17% due to crackdown on organized crime groups and improved security measures.
Deep dives
Nike's Financial Struggles and Market Performance
Nike faced significant financial losses with a $28 billion drop in market cap on June 28, 2024, following a revenue decline announcement. Despite being a dominant force for years, their shares fell by 10% after reporting over-inventory post-COVID. This decline continues a downward trend, losing 40% of its value over three years, attributed to reasons like not responding swiftly to consumer preferences and losing coolness in running and casual shoe markets.
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