Sea of Change
The MStreetX Newsletter
Friday, February 5, 2021
Stonks, Vaccines, and Buyouts, Oh My!
MStreetX's newsletter continues to bring you the top stories and breaking news that impacts business, and the economy, and this month some news celebrating Black History!
Breaking the Black Glass Ceiling- Deborah Archer, First Black Person Elected as ACLU President
Monday marks the first time a Black person has been elected as ACLU president. There have been only 7 other ACLU presidents in it’s 101 year history. Deborah Archer, a professor at New York University School of Law with expertise in civil rights and racial justice, was almost unanimously elected in a virtual meeting of the 69 board members held over the weekend. With Archer at the helm, and a new administration for the country, the ACLU is doubling down on its commitment to racial justice and civil rights. Source
Following the historic and unprecedented WallStreet Takeover last week by the subreddit
“Wallstreetbets”, GameStop Corp.’s rally came to rapid decline this week as the shares sharply fell for their biggest one-day loss on record, erasing $28 billion from their market high.
The stock, which has been the poster child for Redditors looking to squeeze short sellers, fell 64% Tuesday, and at one point traded below $100, the lowest that week. Several hedge funds had huge losses betting against Gamestop, including Melvin Capital which lost over 50% in January. The Reddit rebellion is just beginning, we will see in the coming months what all is possible when large mobile groups take on tenants of financial institutions. Source 1 , 2
Uber Alcohol- Not Under The Influence
Uber announced this week buying Drizly, an alcohol delivery service for 1.1 Billion. Uber also announced it is offloading other segments of the organization that are cost pits -- like Uber Elevate it’s flying taxi business. Uber transferred Jump, it’s electric bike and scooter rental to Lime last year, along with it’s ATG, the self-driving car division to Aurora Innovation. With the Pandemic, Uber Eats has been making a fortune off of people staying home and ordering in, Drizly’s service is being integrated seamlessly into the Uber app for a wide-range of food and drink services. Source
Pfizer planning on 15 Billion in Sales from Covid vaccine.
With all the world countries vying to innoculate their populace with the vaccine in an attempt to save the economies and lives, Pfizer announced it is planning on signing supply deals bringing in over 15 billion. Pfizer is rushing to create and deliver two billion doses of the vaccine in 2021. Many countries are unfortunately unable to pay the price and looking at several months, to a year before being able to vaccinate their populations. The vaccine ranges from $3 - 37 per dose, depending on the company, From AstraZeneca to Moderna. Source 1, 2
$44 Million Pricetag on VAMS, Most States Say It’s A Dud
The Vaccine Administration Management System (VAMS) was designed by Deloitte & Touche LLP at the request of the CDC for $44M. It was touted as the premiere system to manage and monitor the vaccine from arrival of supply to inoculation. So far, 41 states are refusing to use it, and Virginia and Connecticut currently are searching for other options. Most users have expressed their frustration as the system as it has been plagued with tech issues, and is seemingly not user-friendly. Source
Sydney Barber, First Black Woman Brigade Commander at U.S. Naval Academy
Sydney Barber officially took on the semester-long role at the beginning of 2021. She is only the 16th woman appointed to this role in the last 44 years since women have been allowed to attend the Naval Academy. In the last year, Barber and other Black women have started an organization called Midshipmen Diversity Team, as well as the Black Female Network where they work to promote inclusivity, and empathy through leadership by creating initiatives and hosting events. As commander, Barber believes that this role will help carry on a legacy of previous Black women in the academy, and also explained that she has a responsibility to help others see that "they can pursue anything they want to do as well". Source