Fidelity marks down X valuation by 71.5%
Source: Win Smart, CFA
Quartr just created this infographic that illustrates the 12 largest luxury companies by market cap
Four fun facts: → $LVMH's market cap is 50% larger than the bottom 10 companies *combined*. → $RMS is by far the largest single-brand company on the list, 3.5x the size of $RACE for example. → Despite owning 10+ brands including iconic maisons such as Gucci, Saint Laurent, and Bottega Veneta, $KER's revenue is "only" ~€20B, compared to Hermès' >€13B. → Tiffany & Co. got acquired by LVMH during the pandemic at a $16B valuation, which would place them at #7 on this list. Source: Quartr Activate to view larger image,
SpaceX Leading on Launches
A chart by Chartr. SpaceX, which has a wide-ranging set of commercial interests beyond taking tourists to the edge of space, continues to move forward — with a tender offer reported last week that could value it at $175bn. Plans for thousands of internet satellites, commercial travel to the moon, a base on the lunar surface and even loftier goals to turn the human race into an interplanetary species by colonizing other planets, are all ambitions of the California-based company. SpaceX has catalyzed much of the excitement about space tourism. The company’s two-stage Falcon 9 rocket is able to launch a kilogram into low-Earth orbit for just ~$1,500, a 10-20x decrease in cost in roughly as many years. That's due to its (partial) reusability — a breakthrough that’s helped SpaceX dominate commercial launchpads in the US. Indeed, FAA data reveals that SpaceX has completed 281 licensed launches since 2000 — 9x as many as Blue Origin and Virgin Galactic have managed between them. Source: Chartr
JUST IN: SpaceX has initiated discussions about selling insider shares at a valuation of $175 billion or more
The shares are expected to be sold at $95 each. The $175 billion valuation is a premium to the $150 billion valuation obtained this summer. If SpaceX went public, it would be one of the largest IPOs of all time. Source: The Kobeissi Letter
Fast-fashion giant Shein has filed confidential paperwork for a potential public listing in early 2024
seeking a valuation of up to $90 billion (per Bloomberg), which would make the 15-year-old company more valuable than Lululemon and H&M combined. Established in China in 2008 as ZZKKO, Shein puts the fast in fast fashion: dropping as many as 10,000 new items on its website every day, producing items in small batches (50-100), and only ramping supply reactively for any products getting a lot of demand. Its wallet-friendly offerings — like earrings for less than 50¢ — have won over young consumers across the world, with its US customer base helping to catapult the company’s sales up 45% year-over-year, to $23 billion in 2022. Source: Chartr
HARD ASSETS ARE AT THEIR LOWEST vs. FINANCIAL ASSETS SINCE 1925
Source: BofA
WeWork has officially filed for bankruptcy
From a $47 billion private market valuation to a $9 billion IPO via a SPAC in 2021, and now trading at $1.32 a share in after hours, marking a jaw-dropping 99% drop from its IPO price. The co-working space drama continues to unfold, reminding us that even unicorns can stumble in the real world of business. Source: Michael Burry Stock Tracker
Elon Musk’s X is worth less than half of price he paid for Twitter
X is worth $19 billion a year after the $44 billion purchase. Employee restricted stock units are awarded at $45 a share. Source: Bloomberg, HolgerZ
