Retail Earnings on Deck, Wegovy’s New FDA Win, and the Winklevoss Twins Take Gemini Public
In today’s episode, all eyes are on retail earnings as Walmart, Target, Lowe’s, and Home Depot prepare to reveal how consumers are holding up under inflationary pressures. Novo Nordisk scored a major win with FDA approval for Wegovy to treat liver disease, opening a lucrative new market for the weight-loss blockbuster. Meanwhile, Yieldstreet investors are reeling after real estate bets touted as “invest like the 1%” ended in steep losses, highlighting the risks of alternative investments. The Winklevoss twins are pushing forward with an IPO for their Gemini crypto exchange, while Samsung is chipping away at Apple’s U.S. smartphone dominance thanks to folding phone buzz. On the tech front, OpenAI’s ChatGPT app has raked in $2 billion in mobile revenue in just over two years. Volkswagen is stirring controversy by locking EV horsepower behind a subscription paywall, and meme stock darling Opendoor keeps climbing as retail traders jump back in.
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