- __[Ping](https://snacks.robinhood.com/newsletters/4YSTdNOZ2mu83UVlDgiCYM/articles/1onPZNNY7k2JvfFj7hvzEH/):__ __SpaceX__ CEO Elon Musk warned employees that the rocket startup could face bankruptcy if it doesn’t ramp up production of its Raptor engines — but his SOS seems mostly to be a move to drive results.
- __[Namaste](https://snacks.robinhood.com/newsletters/7ulB0FYNp6qUhXwrwbS5HI/articles/4vdCsYuHPUjDuLjZUujp5W/):__ Jack Dorsey stepped down last week as __[Twitter](https://robinhood.com/stocks/TWTR)__ CEO to focus on being the full-time CEO of Block (fka: __[Square](https://robinhood.com/stocks/SQ)__), letting Twitter join the ranks of tech titans like __[Amazon](https://robinhood.com/stocks/AMZN)__ and __[Google](https://robinhood.com/stocks/GOOGL)__ that have also ditched their founders to evolve.
- __[Woolly](https://snacks.robinhood.com/newsletters/y2vYdUTHNaS4xw4nNE5Wd/articles/Hge0g8ZSvXBIsH2a7akah/):__ __[Allbirds](https://robinhood.com/stocks/BIRD)__ saw huge demand for its eucalyptus-pulp-infused sustainable sneakers in its first-ever earnings report — but it needs to grow its customer base if it wants to turn a profit.

ICYMI

Last week's highlights...

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World

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 fell on Tuesday after it reported a steeper-than-expected loss in its first quarterly earnings repo...

J. Edward Moreno

Business Reporter

The overall performance of digital asset treasury firms (DATs) focused on ethereum has been signific...

Sage D. Young

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Crypto

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Claire Yubin Oh

Data Journalist

 is up about 9.3% as of 5:40 a.m. ET on Tuesday after announcing record-breaking quarterly revenue o...

Headline kind of explains the story here! From the source: <blockquote class="twitter-tweet"><p lang...

__Doesn’t roll off the tongue...__ “Omicron” is living rent-free in investors' minds. Markets have been on edge since the new Covid variant was identified in South Africa late last month. Omicron has since been [detected](https://www.nytimes.com/article/omicron-coronavirus-variant.html) in 20+ countries, including the US, which reported cases in at least 16 states. Some infected people were fully vaxxed. Experts said it would take weeks to assess Omicron’s severity, but here's what we do know:

- __Most Omicron cases have been mild__ so far. The WHO’s chief scientist [said](https://www.bloomberg.com/news/articles/2021-12-01/vaccines-likely-to-protect-against-severe-cases-of-omicron-who?sref=q3KSFp38) existing vaccines were likely to offer some protection.
- __Omicron is spreading more than twice as quickly__ as Delta in South Africa, and accounts for the bulk of new cases there.
- __FYI:__ Several Covid variants have been identified, but Delta and Omicron are the only “[variants of concern](https://www.hopkinsmedicine.org/health/conditions-and-diseases/coronavirus/a-new-strain-of-coronavirus-what-you-should-know)” so far.

__Crank out the test tubes...__ Biden [said](https://www.wsj.com/video/biden-us-is-working-with-vaccine-makers-on-omicron-contingency-plans/F2CA6319-2A64-4929-A864-AB8583790F63.html) he doesn’t expect to impose more lockdowns or vax mandates this winter, but he's [working](https://www.wsj.com/video/biden-us-is-working-with-vaccine-makers-on-omicron-contingency-plans/F2CA6319-2A64-4929-A864-AB8583790F63.html) with vax makers on plans for Omicron-specific doses in case they're needed. __[BioNTech's](https://robinhood.com/stocks/BNTX)__ founder said Omicron is unlikely to cause severe illness in vaxxed people, but __[Moderna’s](https://robinhood.com/stocks/MRNA)__ CEO said it could make shots much less effective. How vax makers are prepping:

- __[Pfizer](https://robinhood.com/stocks/PFE) and BioNTech, Moderna,__ and __[J&J](https://robinhood.com/stocks/JNJ)__ have already started working on Omicron-specific shots, in addition to testing the protection of existing ones. Pfizer and Moderna say an Omicron-focused vaccine could be ready in under [100 days](https://www.statnews.com/2021/11/30/pfizer-research-head-envisions-a-sprint-to-develop-omicron-vaccine-if-its-needed/). 
- __Financial boosters:__ Vaccines can translate into big profits. Moderna made $7.3B in profit on $11.3B in vax sales in the first nine months of this year. Pfizer, which is also selling vaccines at a profit, expects $36B in 2021 Covid vax sales.

Cron

__Better safe than sorry…__ Dr. Fauci [said](https://www.cnbc.com/2021/12/03/fauci-says-booster-shots-likely-give-cross-protection-against-wide-range-of-covid-variants.html) existing boosters would likely protect against a wide variety of variants. But there are still a number of unknowns. If Omicron is severe, it could slow economic recovery, depress markets, and exacerbate supply problems — as Delta did. Dozens of countries, including the US, have already imposed Omicron-fueled travel restrictions, while vax makers prep new shots. It’s better to be overly prepared when public health is at stake: US Covid deaths this year recently surpassed 2020's toll.


Plan Omicron: How Biden and vax makers are prepping to tackle the new variant

__Anchoring your digital yacht…__ next to your virtual mansion. From virtual Gucci bags to digital plots of land, people have been pouring money into metaverse possessions. A meta-yacht sold for a record $650K last week, while a virtual developer [bought](https://www.wsj.com/articles/metaverse-real-estate-piles-up-record-sales-in-sandbox-and-other-virtual-realms-11638268380?mod=hp_lead_pos12) a property from gaming company __Atari__ for $4.3M. The market for real estate in digital worlds like __Decentraland__ and __Sandbox__ is growing: Some developers have even built and rented out digital malls. But experts warn the digital real-estate market is far riskier than *actual* real estate given crypto’s volatility.

__No coal in the stocking…__ As if gas prices weren’t enough, coal prices have hit a 10-year high. That could make it hard for some to warm their homes this winter. While natural gas has replaced coal as the US’s main source of energy, demand for coal has held steady this year. As the world moves away from fossil fuels, nuclear energy — which provides 20% of the US’s juice — is gaining traction. A Bill Gates-backed startup, __Commonwealth Fusion__, just raised $1.8B. And the EU [might](https://www.bloomberg.com/news/articles/2021-11-30/eu-considers-giving-some-gas-and-nuclear-projects-green-label?sref=q3KSFp38) allow certain nuclear investments to be labeled as “green.” 

It’s always sunny in the metaverse [Plug Pattarin via Getty Images]

Zoom Out

Stories we’re watching...

__Sports-bra stand-off…__ Lockdowns may be over, but the leggings life isn’t. __[Lululemon’s](https://robinhood.com/stocks/LULU)__ sales soared 63% last quarter as shoppers visited Lulu’s digital *and* physical stores for stretchy tanks. Lulu’s on track to exceed its 2023 sales goals *this year*. But it's not all peace and vinyasa: Last week, Lulu sued __[Peloton](https://robinhood.com/stocks/PTON)__ over its “copycat” yogawear. And it has a fledgling revenue stream to grow: Lulu bought connected-fitness company __Mirror__ for $500M. We’ll see whether the athleisure life is still revving when it reports on Thursday. 

__Just binged “Selling Sunset”…__ The housing market is still #thriving, with the median US home price hitting a record [$360K](https://nationalmortgageprofessional.com/news/sale-home-inventory-hits-new-all-time-low) last month. The boom has been good for the US’s largest homebuilders, including __[Lennar](https://robinhood.com/stocks/LEN)__, __Pulte Group__, and __[Toll Brothers](https://robinhood.com/stocks/TOL)__. US home sales are on track for their [best year](https://www.wsj.com/articles/u-s-home-sales-on-track-for-biggest-year-in-15-years-11637593790?mod=markets_minor_pos16) in more than a decade, and homes for sale [just hit](https://nationalmortgageprofessional.com/news/sale-home-inventory-hits-new-all-time-low) a new low. That translated into record income for Toll last quarter. But home building has cooled since peak pandemic, while rising costs for materials like lumber have pushed homebuilders to raise prices. We’ll see if that bruised Toll when it reports earnings tomorrow.

Last week's highlights...

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