Daily Skimm for June 03

The Story

As the US reopens, traders are throwing it back.

Explain.

Earlier this year, the OG meme stock GameStop saw its shares jump nearly 1,800%. And it wouldn't be a meme stock if it didn't get its boost from Reddit. The stock's run was fueled by a massive community on the subreddit r/WallStreetBets (think: a forum where people can share trading tips and ideas). They all rallied together to stand up against big hedge funds and mess up short sellers. Basically, they put their money where their mouth is to give underdogs a boost in the markets. And they've done it again.

Grab the popcorn: Yesterday, movie theater chain AMC saw its shares nearly double to record highs after a frenzy of trading. Things got so crazy that trading paused...four times. It spurred rumors that trading app Robinhood put a halt on things (like it did last time). But the company said 'don't look at us,' and aimed its bow and arrow at the New York Stock Exchange. At one point, the stock reached as high as $72.62. Meanwhile, AMC's rolling out the red carpet for its new investors. And buttering them up with a free large popcorn.

20% coupons: As a meme stock, Bed Bath & Beyond saw shares jump over 60% yesterday – giving it a market value of more than $4 billion. The company's stock had already been on the up and up after it announced some fresh plans (think: new private label brands). Now, it's caught up in the frenzy of individual investors trying to revive the stocks of nostalgia. And its shares are soaring to infinity...and Beyond. (We had to.)

Low-hanging fruit: This year alone, BlackBerry's shares jumped at least 100%. The company, known for its iconic full keyboard phone (remember that Hillary Clinton meme?), was one of the early targets of traders on r/WallStreetBets. BlackBerry once made one of the hottest phones on the market, but has long struggled to keep up. Making it a perfect target for Reddit users. BBM, is that you?

What's the latest on regulations here?

Earlier this year, Robinhood's CEO defended his company in front of lawmakers after the app stopped everyday people from trading GameStop stock. And Treasury Sec Janet Yellen had to meet with regulators over market volatility. Last month, the head of the Securities and Exchange Commission said it's been working on a report addressing the GameStop saga (to be released this summer). And that new rules may have to be issued to address apps that gamify trading. But for now, it's fair game.

theSkimm

These market yo-yos are a result of small dollar investors (think: your next door neighbor, old roommate, and more) taking on massive Wall Street investors and hedge funds. But who knows how long they'll be able to have this type of influence.

Psst...we Skimm'd more on meme stocks and other investing manias (like crypto and NFTs) people can't gamestop, won't gamestop talking about. Here's what to know before investing your money.

And Also...This

What's switching things up...

Israel. Yesterday, the country's opposition leaders made a deal to form a coalition government, paving the way for PM Benjamin Netanyahu's exit. Last month, Netanyahu – Israel's longest-serving PM (who's on trial for corruption) – failed to piece together a gov after Israel's March election...the fourth in two years. So centrist Yair Lapid and far-right leader Naftali Bennett teamed up to try to reach 61 seats, the number needed to rule parliament. Just before yesterday's deadline, the duo managed to pull it off. But it's not over yet. Next week, parliament will vote to approve the coalition gov.

Historic: If the vote goes through, it would be the most diverse coalition in Israel's history, including an Arab party for the first time ever in addition to left- and right-wing parties. It comes in the aftermath of a deadly 11 days of conflict between Israelis and Palestinians. And as Lapid promises to unite "every part of Israeli society."

Trying to keep it together but it (could be) falling apart: The coalition is made up of eight political parties from across Israel's political spectrum that was united in one goal: showing Netanyahu the door. Now that they're on track to do it, it's unclear how long this unity could last.

What's giving a bit of good news...

This study. A new analysis of a Census Bureau survey found that the last two stimulus checks led to more than a 40% drop in food insecurity and financial instability among families. And over a 20% drop in anxiety and depression. Back then, critics argued the checks were wasteful and questioned whether they'd reach the people most in need. Now, this study's saying 'yes, it helped.' Still, the study didn't address the effect on the US deficit and whether it gave people less motivation to find a job.

Fortune 500. Yesterday, it said 41 women are leading the US's largest companies – an all-time record. Among the CEOs are Roz Brewer from Walgreens Boots Alliance and Thasunda Brown Duckett from TIAA – the first time two Black women are on the list simultaneously. Another name to know: Citigroup's Jane Fraser – the first woman to lead a major US bank. But despite the milestones, women still only hold 8.1% of CEO spots on the Fortune 500 list.

What's one step closer to being 'ova'...

Gendered last names. Yesterday, lawmakers in the Czech Republic reportedly took up a proposal that would allow women to choose if they want "-ova'' in their last names. In the country, women typically have their father's or husband's surname with "-ova" tacked on (think: Novak becomes Novakova). But this practice has long been deemed as sexist. A former justice minister proposed ending the linguistic norm. And now, the country's senate will take up a vote on the change.

Whose LiveJournal didn't quite take off...

Trump's blog. Yesterday, the former president shut down his blog less than one month after lauding it as a way to connect to his supporters. Apparently, readers didn't get the message. Now, Trump wants to go bigly and launch a new social media platform.

Who's ready for a new adventure...

Duke's Mike Krzyzewski.

According to the US Bureau of Labor Statistics, the avg American family spent $8,955 on food and personal care products in 2019. Grimace emoji. But it's not like you can skip that stuff altogether. Enter: the Coupons.com app. Which helps you rack up cash back when you buy groceries, toothpaste, sponges, makeup, treats for your fur baby, and other everyday things. Since you're probably spending thousands on them every year anyway, it's basically free money. Speaking of, right now, Coupons.com is offering a $5 welcome bonus to new app users. Just download, redeem your first cash back offer, and watch your spending power grow.† Yes, please.

†Terms apply. Offer expires June 30, 2021.

Time to Shop For...

Father's Day. Because you've already bought one too many ties, and you're tired of hearing the classic 'I don't want anything' speech. Which is why we're here to help. Enter: tons of things he'll love. Check out...

Every Thursday, our Skimm Your Life newsletter gives you recs for what to buy, watch, read, and more. Here's a little preview, but you can sign up here to get more ideas like these to your inbox.

1. Classic, eco-friendly kicks. That we'll be wearing alllll summer. This brand's best-selling sneakers are sustainably made and cushiony af. Plus, they go with everything. Sometimes, it is easy being green. Psst...Skimm'rs get 15% off for a limited time. Don't wait.*

2. Our fave finds on Amazon to make your life smarter. From genius problem-solving products to eco-friendly swaps to home-org essentials. Check out all our recs for the things you'll wish you bought sooner.

3. Sunscreen 101: What to know, what to buy, and how to use it the right way. Not all sunscreens are created equal. We chatted with a derm to give us the deets. Here's your ultimate explainer so you can (safely) soak up the sun.

*PS: This is a sponsored post.

Here are today's recs to help you live a smarter life…

1. How to clean your home without dirtying the planet. This brand makes reusable bottles and cleaning tablets. So you can save money and space. And do your part for Mother Earth. PS: Skimm'rs get 15% off their first kit with code SKIMM. Waste not.*

2. Serious savings on sustainable sleep stuff. Like organic mattresses, pillows, bedding, frames, and other furniture. Avocado Green Mattress is keeping the Memorial Day energy going. Their summer kickoff sale doesn't end 'til Monday. Don't miss it.*

3. A bra to rival your favorite bralette. This brand's bras are designed with smaller-chested women in mind. All of their cute and colorful styles give natural lift and cleavage. Minus bulky padding. Plus, Skimm'rs get 10% off their first purchase. We support it.*

4. A silicone mat that'll unclog your makeup brushes. Its grooves and edges work like a charm. Your foundation-packed brush will actually look new again. It can also suction to your sink so you can get a really deep clean. Win.

PS: Like what you see here? Make sure you're signed up to get more picks like these in your inbox every Thursday. We've got exclusive shopping recs, streaming ideas, life hacks, and more.

*PS: This is a sponsored post.

Skimm’rs

We like to celebrate the wins, big and small. Let us know how your friends, neighbors, coworkers (and yes, even you) are making career moves, checking off goals, or making an impact in the community.

Bookmark it...Kathleen S and Raina K (CA). They launched "Ignite Your Story," a book that shares the captivating stories of 40 leaders and game-changers who have overcome the odds to ultimately accomplish their goals. Learn more.

Expanding resources...Amy W (CA). She leads ClinWiki, a free search tool that enables researchers and patient advocates from specific disease communities to curate relevant trials. And helps patients, caregivers, and care teams make informed treatment decisions. Check it out.

(Some) Birthdays...Michele Soble (IL), Molli Ben-Gal (NY), Barbara Simon (NY), Madeline Flanagan (TX), Kelsey Bryant (FL), Samantha Adams (WI), Rush Johnston (SC), Eve Keller (IN), Rick Anger Jr (MD), Victoria Fitoussi (CA), Faye Gibson (NC), Megan Devaney (CT)

*Paging all members of theSkimm. Reach out here for a chance to be featured.

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Skimm’d by Rashaan Ayesh, Maria del Carmen Corpus, Clem Robineau, and Julie Shain