What we’re reading (12/19)
“Startup Hedge Fund Turns To Quantamental Analysis For ESG Products” (Waterstechnology). “A newly established investment firm, Changebridge Capital, is applying a ‘quantamental’ approach, combining quantitative screening and fundamental analysis, to find ESG-related investment opportunities in misunderstood and inefficiently priced areas of the stock market.”
“Banks On Alert After Sweep Finds No Evidence Of Major Hack” (Bloomberg). “Bank executives have said for years that their worst nightmare is a successful cyberattack against the industry. Now they’re watching one unfold across government agencies in what could be one of the biggest hacks in U.S. history.”
“Tesla Jumps 6% In Heavy Volume Ahead Of S&P 500 Entry, Stock Then Falls A Bit In After Hours” (CNBC). “Shares of Tesla traded more than four times their 30-day average volume on Friday as passive funds bought the stock ahead of Tesla joining the S&P 500. The stock will be added to the benchmark index ahead of Monday’s opening bell, based on prices from Friday’s close.”
“Travis Scott Is The Latest Entrant In The (Very Crowded) Spiked Seltzer Wars” (CNN Business). “Travis Scott is partnering with Anheuser-Busch on a new agave-spiked seltzer called Cacti, bringing yet another label to the crowded spiked seltzer market. AB InBev (BUD), the brewer of Budweiser, Corona and Stella Artois, announced the new beverage on Thursday. Scott, whose record label is called Cactus Jack, says the seltzer — made with blue agave from Mexico — was inspired by his love of tequila. It will come in lime, pineapple and strawberry flavors.”
“Stuck At Home, People Are Splurging On Wine And Spirits” (New York Times). “The pandemic has been a boon to retail alcohol sales of all kinds. Beer sales are up, as are those of wine and vodka. Even the lowly vermouth — the anonymous mixer that blends with the name-brand spirits in martinis and Manhattans — has seen a spike in business as consumers substitute drinking at home for visits to local bars or restaurants.”
