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Today we are watching…
1. Ryanairย (#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 โnew normal,โ and Ryanair CEO Michael OโLeary has had enough. Heโs called the governmentโs โair bridgeโ plans not to quarantine incoming travelers from France, Greece, and Spain (one of the worst affected countries) โmore idiotic rubbish.โ Itโs meant to help the airline industry, but if fliers agree with OโLeary, 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 wonโt restartย anyย 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 IPOโing (initial public offering) business doesnโt have any quarterly earnings reports on file, so it has to publish an S-1 form to tell investors what itโs all about. Casper, the new-age mattress retailer, is in trouble for using its S-1 to talk all about the โsleep economyโ and nothing about a โglut of outdated inventoryโ (old beds that havenโt been sold) or narrowing profit margins.