Today, social-media savvy fast-food brands duke it out on Twitter and Fitbit partners with Singapore to make its citizens fitter, but first….
These common spelling mistakes cost investors millions each year
Automotive behemoth Ford Motor will release it’s Q3 earnings on October 24th, and when it does, countless investors will scramble to purchase shares of stock ticker “FORD.”
Only one problem…
“This is not the FORDyou’re looking for”
“FORD” is the ticker symbol for “Forward Industries,” a manufacturer of “carrying cases for medical monitoring systems” worth $10m — not the $40B car company listed under ticker symbol (F).
And we thought the newsletter industry was niche…
In fact, experts estimate that this mistake costs investors an average $1m in trading fees alone. Most investors don’t even catch the mistake until at least a week later, and some never correct it at all, “they just rationalized the purchase as still being a good investment,” one researcher writes.
Other notable ticker travesties:
HP vs. HPE: “HP” stands for Helmerich & Payne, a drilling rig company, not Hewlett Packard (which trades under “HPQ”), or Hewlett Packard Enterprises, which trades under “HPE.”
ZOOM vs. ZM: “ZOOM” is an obscure Chinese wireless company. “ZM” is a $25B video conferencing platform.
TWRTQ vs. TWTR: “TWTRQ” is a bankrupt home entertainment retailer whose stock spiked 1000% in 2013 after Twitter IPO’d under ticker symbol “TWTR.”
This is just the short list — Professors at Rutgers identified “250 company pairs where the possibility of confusion is particularly high.”
Even “robo investors” make mistakes
Big institutions that rely on algorithms to watch for big movements in stocks often get tripped up when a bunch of poor proofreaders dump money into the wrong companies.
Computers don’t ask why a bunch of investors are suddenly optimistic about a defunct stereo seller, they just execute. That means the responsibility falls on investors to “spellcheck” their holdings, whether they’re a basement daytrader, or a hedge fund hotshot.
We’re bullish on GOGG…
Fitbit outsteps Apple to outfit Singaporian health initiative
Fitbit announced a first-of-its-kind public health partnership in which the pedometer pioneer provide “free” health trackers to citizens of Singapore.
According to Fitbit CEO James Park, the deal could result in bands on more than 1m Singaporean wrists.
Start steppin’, Singapore!
Next month, Singaporeans can register to receive a Fitbit Inspire HR… if they commit to paying $10/month for a year of Fitbit’s coaching services (that’s more than the cost of the band, which retails for $99.95).
Users will also be asked to consent to sharing their health data with Singapore’s Health Promotion Board.
Singapore boasts the world’s longest life expectancy — 84.8 years, baybee — and a renowned healthcare system. But with heart disease and diabetes on the rise, the city-state hopes to help people adopt healthier habits … and avoid higher healthcare costs.
The deal is helping Fitbit get back in shape, too
Fitbit was once the biggest name in wearables, but it’s been hurt by competition from the Apple Watch and other cheaper models.
But this Singaporean partnership signals a shift in direction for Big ’Bit: By focusing on services, Fitbit hopes to create some recurring revenue — a crucial step towards realizing its 2019 revenue projection of $100m.
If you’re looking for TV so good you’ll postpone plans for it, look no further:
Authentic drama, raucous hilarity, and the simultaneous joy and emptiness that one father can bestow upon his children are all superbly executed in this dark lampoon of corporate media conglomerates and the a-holes who pull the strings.
The Macro: The musical score in this series is magnifique and the performances are all great, but Sarah Snook steals the show.
The Meecro: 2 episodes into the 2nd season and it’s already better than the 1st.
The Micro: Jesse Armstrong is one of the best writers in TV today. Check out his shows Fresh Meat and Peep Show. Also his movies In The Loop, and Four Lions.
Is “Cheap Flight Day” real… or just another brand-made holiday?
Today — August 23rd — is known as “Cheap Flight Day” in the air travel biz because it’s the day when high summer prices drop and airlines offer high-flyin’ deals.
But, unlike other branded holidays such as Amazon’s Prime Day or National Rotisserie Chicken Day (invented by Boston Market), Cheap Flight Day wasn’t randomly dreamt up by someone in a corporate marketing department…
Cheap Flight Day was created by the market, not a marketer
August 23rd consistently kicks off the cheapest flight deals of the year.
So why is today the best day to start booking? The summer vacation booking season has just ended, and holiday travel-booking has not yet started.
Many airlines will offer discounted tickets for the next few weeks: Aggregators like CheapOair and Matt’s Flights are promoting the “holiday,” and many airlines will likely offer incentives and giveaways to boost sales.
Matt’s Flights emailed The Hustle a few examples of Cheap Flight Day discounts:
Hustle Con ticket prices increase tonight at midnight (PST). This is you last chance to save $125 off a 2-day ticket (regularly $600). Don’t miss out on learning lean startup tactics from our stacked lineup of founders.