Diamonds and Dogs

6/28/24

Uber (UBER) closing out the month and quarter with a 2% rally. Today's rally comes as Uber resolves a long-standing lawsuit from the state of Massachusetts which gave drivers access to new protections, benefits and higher minimum wage.  Uber has a new sales pitch where they will pay $1,000 in credits to certain commuters in the US and Canada who ditch their cars for five weeks in favor of public and other transport services.

Nike (NKE) is having a tough year. Nike is down 20% after missing fourth quarter sales and lowering guidance going forward. Nike has received at least five downgrades on one of its worst days in several years. Nike did say they are working on sub $100 sneakers for the price conscious consumers. Dow component, Disney is down 3% on no news.