Amazon unveils ‘Haul’ for Temu, Shein showdown
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 14 November 2024
⏱️ 6 minutes
🧾️ Download transcript
Summary
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Thursday, November 14th. I'm Julie Morgan. |
| 0:13.0 | Amazon introduces a new storefront for less expensive products that won't get to you in two days. |
| 0:19.0 | Vroom goes bankrupt, and Threads is about to get a little more crowded. |
| 0:24.7 | Amazon is introducing a new section in its shopping app and website called Amazon Hall, |
| 0:30.4 | featuring products priced $20 and under to help the e-commerce giant compete with low-cost |
| 0:36.1 | apps T-Mew and Sheehan. |
| 0:38.3 | The offering is being rolled out in beta and will be available to U.S. customers when they update their app. |
| 0:45.0 | Amazon Hall has its own shopping experience, search, cart, and checkout. |
| 0:50.2 | All featured items are priced $20 or less, with a majority priced $10 and under, and some as low as a dollar. |
| 0:57.8 | Typical delivery times will be one to two weeks. |
| 1:01.1 | The products in Amazon Hall are backed by Amazon's A to Z guarantee, which covers all purchases, whether they are sold by Amazon or a selling partner. |
| 1:16.6 | Auto financing company Vroom filed for Chapter 11 bankruptcy protection on Wednesday. The company attempts to restructure more than $300 million in debt. |
| 1:21.6 | The bankruptcy comes in the wake of Vroom's agreement with creditors to enter a restructuring support agreement that would convert |
| 1:28.4 | $290 million of unsecured convertible senior notes into equity. The RSA will allow existing |
| 1:35.0 | holders of Vroom common stock to exchange each share for one share of new common stock and a |
| 1:41.5 | warrant to purchase a share of new common stock. The warrants will be |
| 1:45.2 | exercisable for five years at a strike price of $12.19 per share. Each note holder will receive |
| 1:52.8 | new common stock equal to 75% of the face value of notes, assuming a per share value of $9.14. By converting debt to equity, the RSA will |
| 2:04.1 | enable Vroom to continue operations without long-term debt. Vroom's subsidiaries, United Auto |
| 2:10.7 | Credit, and Carr Story are not expected to be impacted by the bankruptcy. Meta Platforms is planning to bring advertisements to threads early in 2025. |
| 2:22.1 | This is according to the information on Wednesday, who cited three people with direct knowledge |
... |
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