29 June Watchlist 👀
Today we are watching…
1. Ryanair (#ryan)
The airflow in a plane recirculates at 76 times the rate outside, making it one of the safest places to be during a pandemic. However, no fliers think that. The British government has gone back and forth on airline regulations for the ‘new normal,’ and Ryanair CEO Michael O’Leary has had enough. He’s called the government’s ‘air bridge’ plans not to quarantine incoming travelers from France, Greece, and Spain (one of the worst affected countries) “more idiotic rubbish.” It’s meant to help the airline industry, but if fliers agree with O’Leary, nobody will want to fly. In fact, some of the biggest airlines in Europe are suing against the policy. It seems that even the worst covid-hit industries won’t restart any cost.
2. Casper Sleep (#cspr)
What with Wirecard and Luckin Coffee falling foul to short-sellers recently, this is not a good time for Casper to its own accounting integrity tested. An IPO’ing (initial public offering) business doesn’t have any quarterly earnings reports on file, so it has to publish an S-1 form to tell investors what it’s all about. Casper, the new-age mattress retailer, is in trouble for using its S-1 to talk all about the “sleep economy” and nothing about a “glut of outdated inventory” (old beds that haven’t been sold) or narrowing profit margins.