Thanks for nothing... Snap shares rose 14% last week even though the company made zero announcements. Facebook already copied Snapchat's Stories feature, making the app's user growth almost disappear. But Zuck also cloned Snapchat entirely, calling it "Instagram Direct." Fortunately for Snap, that was shut down last week since Direct never caught on.
Mandarin for "Venti"?... In just 2 years, upstart Chinese chain Luckin Coffee built 2,400 stores. It's still behind Starbucks in China, but cravings for its tech-savvy, app-driven, pick-up-style grab-and-go stores emboldened it to IPO — aka list shares publicly so they're accessible to regular investors like you and us. On Day #1 of trading, the stock popped 18%.
Because you need Tide to Go ASAP... Walmart became the 1st to offer free 1-day shipping on orders $35 or more (beginning in Vegas and Phoenix). Now Walmart's shares are creeping up to a record high after announcing quarterly ecommerce sales surged 37% from last year.