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Chit Chat Stocks
Top Performing Small-Caps of 2024; Mexican Tariff Threats; Hawk Tuah Coin? (CRWD, DAVE, APP + More)
Dec 1, 2024
Macy's financial struggles take center stage as the hosts dissect a potential crisis in corporate governance. They explore the impressive performance of small-cap stocks, highlighting intriguing insider buying trends. The discussion shifts to CrowdStrike's earnings analysis and ongoing concerns in the Mexican market, particularly the impact of looming tariffs. Meanwhile, the cryptocurrency scene gets attention with the controversial Hawk meme coin. The hosts also highlight promising underwater tech company Kraken Robotics and share strategies for navigating a potentially bubble-prone market.
01:08:56
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Quick takeaways
- Macy's significant financial mismanagement underscores the critical importance of robust internal controls and governance in mitigating potential fraud risks.
- Despite the volatility of small-cap stocks, notable performers like Dave highlight the potential for extraordinary gains alongside significant losses within this investment category.
Deep dives
Macy's Delivery Expense Scandal
Macy's has encountered a significant issue, as one employee managed to hide delivery expenses totaling between $132 million and $154 million over three years. This fraud resulted in the delay of the retailer's third-quarter earnings report, drawing attention due to its potential implications on the company's financial health. While the total delivery expenses amounting to $4.4 billion over that time show that this missing figure represents about 3% of overall costs, the incident raises questions about the company's internal controls and governance. The discussion points to broader concerns about Macy's viability, especially amidst a retail landscape that continues to evolve rapidly, with growing competition from e-commerce platforms.
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Discover
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