Today we are watching…
1. Lovesac (#love)
Ever sat on an oversized bean-bag chair? Chances are it was a Lovesac sac! This small furniture maker put the proceeds of its IPO towards a huge marketing effort. Such was its success that the company surpassed earnings estimates three-fold, seeing its stock boom 50%. Investors will be hoping Lovesac can show progress towards profitability today, facing expectations of a $0.47 loss per share on $39 million in sales.
2. Nintendo (#nintendo)
The most famous name in video games has partnered with the biggest in Chinese tech, Tencent. The alliance takes the Nintendo Switch gaming console to a huge neighbouring market in China. Along with this, Nintendo is also on the cusp of introducing micro-transactions. This is a controversial but lucrative business practice in the industry, symbolic of the Japanese firm’s attention to putting more yen in its shareholders’ pockets.
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