Roaring Kitty's $116M Stake Sends GameStop Soaring & Spotify is Hiking Prices... AGAIN

Morning Brew Daily

Morning Brew

Business, News, Business News

4.4 • 3K Ratings

🗓️ 4 June 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 336: Neal and Toby chat about ‘Roaring Kitty’s ability to move the stock market with simple, often cryptic posts. Then, Spotify is raising its price for the 2nd time in a year and why it may be in a unique position to do so without any blowback. Also, a mortgage lender offers 0% down payment to homebuyers which may echo the issues that led to the 2008 financial crisis. Meanwhile, American Express is finding new excitement among youthful cardholders looking to maximize its renewed benefits programs. Next, Toby examines the trend of dad sneakers becoming a hit in the running and fashion industry. Lastly, consumers prefer using laptops to make big purchases and why that’s problematic for retailers. Download the Yahoo Finance App (on the Play and App store) for real-time alerts on news and insights tailored to your portfolio and stock watchlists. 00:00 - Berkshire Hathaway glitch 2:45 - ‘Roaring Kitty’ has lots of power 7:30 - Spotify asks for more money again 11:00 - 0% down payment too good to be true? 15:15 - Asics dad sneakers are cool? 18:45 - Amex is popular among GenZ 22:15 - Laptop v. Mobile shopping Get your Morning Brew Daily Mug HERE: https://shop.morningbrew.com/products/morning-brew-daily-mug?utm_medium=youtube&utm_source=mbd&utm_campaign=mug Listen to Morning Brew Daily Here: https://link.chtbl.com/MBD Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	When it comes to your finances, go for the credit card that's always there for you with 24-7 U.S-based live customer service from Discover.
0:08.0	Everyone has the option to talk to a real person anytime, day or night.
0:11.6	Yep, that means no more waiting for quote normal business
0:14.4	hours just to get a hold of someone. We're talking real service from real people
0:18.5	whenever you need it. Get the customer service you deserve with Discover.
0:22.0	Limitations apply see terms at
0:24.0	Discover.com slash credit card.
0:27.0	Good morning Brew Daily Show. I'm Neil Freiman.
0:30.0	And I'm Toby Howell.
0:31.0	Today the 0% down mortgage is making a comeback, but is anyone else getting 2008 vibes?
0:37.5	Then check your subscription bill because Spotify is hiking prices yet again. It's Tuesday June 4th. Let's ride.
0:47.0	Yesterday was a weird day in the stock market which we'll get into in just a minute but outside another bout of GameStop Madness
0:57.0	there was also a major New York Stock Exchange glitch that made a bunch of stocks appear to drop 99% in a matter of seconds.
1:04.0	The most notable company to get hit by the Glitz,
1:07.0	were a-class shares of Warren Buffett's Berkshire Hathaway.
1:10.0	For a good chunk in the morning, its stock chart looked like a sheer cliff face.
1:14.0	The glitch stemmed from a software update by a company the exchange uses to provide real-time stock
1:19.0	quotes, and they halted trading activity and eventually got it fixed.
1:22.0	But for a minute there, it looked like you could get... halted trading activity and eventually got it fixed.
1:22.7	But for a minute there, it looked like you could get the deal of the century.
1:26.6	It was a weird day, Neil.
1:27.7	Yeah, the Berkshire Hathaway stock was down from $620,700, which is a good reminder of just how expensive this stock is because he does
	...

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