__How much is clear skin worth?...__ Wall Street thinks $240M. __[Dermira's](https://www.robinhood.com/stocks/DERM)__ company value jumped by that much Monday on [news](http://investor.dermira.com/news-releases/news-release-details/dermira-announces-positive-topline-results-phase-2b-study?field_nir_news_date_value[min]=) it cleared a key hurdle in developing a drug to treat Dermatitis. Shareholders are feeling *clean and clear and under control*.

__Sweet ticker symbol — "DERM"...__  It deals in medical treatments for Atopic Dermatitis, so it's hard to evaluate the biz without a Molecular Biology & Biochemistry degree (that's a real [degree](http://www.middlebury.edu/academics/mbb)). Small bio-tech companies like Dermira also don't even have products (yet), so it's all speculation. Monday's news though improves the prognosis that it could make money someday. 

Dose

__Carpe freaking diem...__ Fresh off the news, Dermira announced it's issuing new shares to raise new money so it can do the lab work needed to pass Phase III testing. But analysts think the market for atopic dermatitis treatment will be [$8B by 2021](https://www.thestreet.com/investing/stocks/dermira-shares-rocket-after-successful-phase-ii-eczema-treatment-study-14898758), so some investors are taking the gamble this drug can work. 


Dermira scores 84% stock boost on positive drug test

__Spoiler Alert...__ Canada's official legalization of pot was really, really good for cannabis producer __[Tilray](https://robinhood.com/stocks/tlry)__. It announced Monday it sold a record 6,478 kilos of the stuff last year (double 2017's). And a third of its product is now used recreationally by Canada Joe and Jane.

__Tilray doesn't smoke alone...__ One of the biggest reveals in Monday's earnings report is that Tilray's putting serious money into a new project with a new partner: __[Budweiser](https://www.robinhood.com/stocks/BUD)__-owner [AB-InBev](https://www.cnbc.com/2019/03/18/weed-grower-tilray-pops-after-sales-rise-110percent-kilograms-sold-doubles.html). They're each tossing in $50M to cook up CBD-infused drinks to replace your Four Loko memories.

Inhale

__Tilray doesn't chill...__ It's got its hands in so many pot projects worldwide — it's borderline peer-pressure.
- Tilray [expanded](https://www.cnbc.com/2018/12/18/tilray-shares-jump-after-announcing-deal-with-swiss-drugmaker-novartis.html) its partnership with Swiss pharmaceutical icon __[Novartis](https://robinhood.com/stocks/nvs)__ to package and ship __medicinal cannabis__ everywhere it's legal.
- Its medical cannabis products are expected to [help](https://www.marketwatch.com/story/tilray-stock-rises-after-the-company-shows-it-can-sell-recreational-pot-2019-03-18?mod=mw_theo_homepage) __100K German patients__ this year.
- And it's [tripling](https://www.marketwatch.com/story/tilray-stock-rises-after-the-company-shows-it-can-sell-recreational-pot-2019-03-18?mod=mw_theo_homepage) the size of its __Greenhouse-cultivated production in Portugal__ to keep up with all that love across the pond.


Tilray pops on its cannabis beer/medicine moves

Dow Jones

S&P 500

Nasdaq

Bitcoin

10-Yr US Treasury

Wondering how they'll patrol CBD-infused Budweiser

This Pot Bud's For You

__One of America's most powerful not-elected people...__ is Fed Chairman Jerome Powell (the guy who calls your number at the DMV is 2nd). Jerry announced Wednesday the Fed is *not* raising interest rates because the [economy's not too hot](https://www.nytimes.com/2019/03/20/us/politics/fed-rates.html) — it thinks GDP will only grow 2.1% this year, not the 2.3% first expected.

__A strong economy needs to be brought down a tad...__ and increasing interest rates usually does the trick: People simply can't borrow as easily to splurge when rates are higher. But the Fed's stopped increasing rates: 

- In December it raised its "one rate to rule them all" by 0.25% to 2.5%. __It then predicted 2 more increases in 2019__
- __Those raises haven't happened.__ And most of the Fed's 17 decision-makers don't think rates need to be hiked this year at all.


Stay

__Inflation's being really weird...__ The US economy's been growing since the '08 financial crisis and the unemployment rate's historically low. But for some reason prices aren't rising like they should in a strong economy. Maybe it's Amazon, Netflix, and Uber driving prices of things down. Economists simply aren't sure.

The Fed says interest rates probably won't rise this year

__The jewelry of Silicon Valley...__ are the new $159 AirPods you wish were all up in your ears. __[Apple](https://robinhood.com/stocks/aapl)__ just unveiled them. And unlike your ancient 2017 AirPods, they do this:

- __Speak with Siri__ by voice straight through them, so she's in your ears all day, e'ry day.
- __Wirelessly charge__ *if* you upgrade to the new, magical wireless-charging case for a smooth $40 more.
- __Connect via Bluetooth way faster__, so no more annoying waiting when you're just trying to get Spotify going before your run.

__Do less, Apple...__ These new AirPods were its 3rd product unveil this week. First, they hit us with new iPads and then Apple updated iMacs for the first time in two years. By the way, you busy Monday? Apple's got a [bigger launch](https://www.cnet.com/news/apple-event-march-25-what-to-expect-how-to-watch-apple-tv-streaming/) event planned, expected to be its "Netflix Killer."


Launched

__The art of the pivot...__ Apple's making it. Sales in its wearables biz (including AirPods) jumped 35% last year — But they still [only](https://www.wsj.com/articles/apple-launches-new-airpods-in-wearables-push-11553092528?mod=hp_major_pos16) make up 6% of all revenues. The iPhone? It's 66%. But since iPhone sales, the pride-of-Cupertino, are slowing, Apple's trying to make services and anything else happen (like "fetch").

Apple's wireless charging AirPods cap its product-palooza

"Miranda, someone's wearing the same Airpods as you"

Apple's JV Product Unveil

__Those shares look good on you...__ Fresh off the top shelf, __[Levi's](https://robinhood.com/stocks/levi)__ IPO'd Thursday, jumping to a $9B valuation under uncreative ticker symbol "LEVI." Since 70% of its sales are [to dudes](https://www.cnbc.com/2019/03/21/levi-strauss-shares-open-at-22point22-in-ipo.html), it's now focused on convincing women Levi's isn't their dads' jeans company.

__Look who's sporting Canadian tuxes now...__ It's the Haas family. They're decendents of the founder, old man Levi Strauss himself, and that family tree's controled the brand for 166 years. This IPO means they're fashionably [cashing out](https://www.cnbc.com/2019/03/19/why-levi-strauss-the-worlds-biggest-denim-brand-is-going-public.html) part of their heritage.

- Before yesterday they __owned over 80%__ of the company's voting shares. That means they could add a 3rd back pocket if they wanted. 
- The Haas fam's __selling 21M shares__ during this IPO in return for cash — $623M [total](https://www.forbes.com/sites/willyakowicz/2019/03/21/levi-strauss-heirs-sell-300-million-in-shares-at-ipo-pushing-family-net-worth-past-4-billion/#6db25c494b35).
- FYI, this is the 2nd time they've listed shares publicly -- Levi's __actually IPO'd back in 1971__, then went private in 1985. Now they're trying it on again.

Ripped

__The timing fits poorly...__ Jean sales globally have [only grown](https://www.cnbc.com/2019/03/21/levi-strauss-shares-open-at-22point22-in-ipo.html) 3.5% the last decade, slower than fashion overall (blame athleisurewear, @Lululemon). And Levi competitors Old Navy and Wrangler are getting spun-off into their own publicly-traded companies this year.

Levi's jumps 32% on its IPO. Comfortably.

__Attack ads...__ Usually reserved for accusing your political opponent of eating pizza with a fork. But Budweiser brought them to the beer biz. Now Miller Coors is royally suing The King of Beers for it.

__Timmy and Dave argue over Beer Pong rules...__ Bud-owner __[AB InBev](https://www.robinhood.com/stocks/BUD)__ and Miller-owner __[Molson Coors](https://www.robinhood.com/stocks/TAP)__ fight over questionably accurate ingredient accusations. 

- __The first shot__ was the Super Bowl [ad](https://www.youtube.com/watch?v=LkHvj_KEHBk&has_verified=1) shaming Coors and Miller Light for being brewed with corn syrup (unlike Bud).
- That’s when a __plan for American Macro Brews to unite__ with a “[Got Milk?](https://www.wsj.com/articles/buds-super-bowl-ad-threatens-to-derail-beer-alliance-11551009600)” style ad campaign fell apart.
- Yesterday, __Molson Coors sued Bud__, claiming its ads are [misleading](https://www.nytimes.com/2019/03/21/business/miller-lite-bud-light-lawsuit.html) — it does brew with corn syrup, but the final beer is free of the stuff (and evil high fructose corn syrup never touches the foam at all)
- __*The best part:__ to make Bud's campaign backfire, Coors deployed [magic taps](https://onmilwaukee.com/bars/articles/coors-light-smart-beer-tap.html) to bars nationwide that treat everyone to free Coors Light every time it hears the Bud Light ad playing on a nearby TV. 

__Craft is thy real enemy...__ Like Starks and Lannisters, AB InBev and Molson Coors could unite against the craft beer, wine, and spirits — all of which are growing faster than 30-packs of watery stuff stuck in 13-ounce cans.

This Pot Bud's For You

Apple's JV Product Unveil

Levi's Goes IPO Commando