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June 29, 2020 
What we're talking about this week:
Money, money, money
Nike
The IRS doing the absolute least


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Money, money, money
summed up: Everyone is trying to predict the future of the economy-- is anyone right?



Explain...
Economists are predicting the way the world will bounce back from COVID. There's a problem though... is COVID even over yet? (short answer: No. Keep wearing your mask plz.)


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What's the deal?

There's a difference in opinions... Morgan Stanley is feeling confident that the market will get right back on track to pre-COVID times. On the other hand, JPMorgan Chase says to get very picky with the rest of our investments in 2020. Results from a Bank of America survey agrees... many investors think US stocks are overvalued. 
 
 Here's a guide to navigating a scary stock market.

stay informed.

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Just couldn't do it...
summed up: Nike's quarterly loss was an unexpected announcement.



Explain...
In the most recent quarter, Nike's online sales increased by 75%-- and that still wasn't enough. The company lost (a mind boggling) $790M due to the pandemic. At this time last year, Nike's revenue was 38% higher than it is now. Yikes.


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What's next?
Here's the ☕☕: Nike said it wants to "build a flatter, nimbler company" (aka cut thousands of jobs.) BUT *deep breaths* the company's new CEO received a lil "signing bonus" worth $45M in cash and stock.... Meanwhile, the median pay for a Nike employee is $25k. 
 
Read more here
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In other news...

1. Your favorite
shows are making changes-- are you? 📺

2. We read
a great article on being a student founder. 🤖

3. The IRS
sent nearly 1.1M stimulus checks to... um... dead people.  💀

4. Please wear your mask. 
Sincerely,
Management 🎭


 

 a quick note.

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xo the root (aka ilana + eve)


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