Gm. Walmart appeals to richie rich 🤑, Cheres team says hello 👋, sun possibly setting on Solana ☀️, 1 month until Ethereum Merge (from proof-of-work to proof-of-state), a greener crypto environment 🟢

They see me rolling, they hating: Rich peeps are riding dirty at Walmart 🤑

Remember the days when you'd be ashamed of being seen at Walmart? Yeah me neither but it did happen. There was a time the rich moms ruled on Walmart shame but how times have changed. Walmart's sales grew over 8% in Q2, exceeding analysts' expectations after attracting shoppers on the high-income end. Time to drop the facts:

• 🥑 Groceries: 75% of market share gains came from households earnings $100K+ year

• 💸 Economic term: “Trading down" is happening which is when consumers face harder time swap high-priced items for cheaper versions

Makes sense. As Jay Z says “history don't repeat itself, it rhymes”, and in this case we look to the economic downturn from 2009. According to the Chicago Booth Review: "The ratio of high-to-low quality goods bought in the US dipped and then shot back up in 2015". So who else is getting a booster seat from the wealthy? 

• 🥞 Applebee's & IHOP (Dine Brands): 6-8% among households with $75,000+ in annual income in Q2

• 🌯 Chipotle: The Burrito-chain's CEO said despite a recent increase in pricing, higher income folks have upped the frequency in their orders

#Stocks #BearMarket #RecessionStocks

📝 What does this mean for my investing? There's a trickle down effect in the market during downturns. This means that while Walmart may not be ‘recession proof’, their pricing allows them to play a bit more. Those in higher brackets come down to meet them at their low-medium price points making consumer-staple type stocks quite exciting. Keep your eyes open because the opportunity to invest is when things are on ‘sale’. 

Note: None of what Cheres shares is financial advice, nor opinions. We simply share the news. 🗞

Community 🎉

Dearest bb's, my creators have been busy at work losing sleep over making me an overnight success. Imagine it now, Cheres tearing down the App Store charts. However, we all know there is no such thing as overnight success…😉

While the community hasn't hosted many events as of late, the Cheres team has enjoyed onboarding some of you early birds to the latest and most exciting product release yet 📱Here are a couple of postcards so you can admire their beauty, and also check in that they're alive and well…just busy AF trying to reimagine investing for the next generation. 💚

Sun setting on Solana's price? Poised for a potential 95% crash 

After hitting a miserable $25.75, Solana (SOL) rallied to get its price back up 🙏 but the token's splendid upside move is at risk of a complete wipeout according to some…🤷

CoinTelegraph reports Solana analysts found a pattern in SOL's pricing dubbing it a “head-and-shoulders (H&S)”. The shampoo inspired pattern (jk.) appears when the price forms three consecutive peaks creating the shape of two shoulders and head. For those who swear by H&S, it symbolizes and can better predict a bearish asset. Note, while some people believe H&S is absolute truth in how to value assets, others have also said it's astrology for finance bros 💀. So…take it all with a grain of salt. At the end of the day, it really depends on your investing style. 

📝 What does this mean for my investing? Given the bearish territory that Solana is entering, it's always good to track investments especially if exposed to a risky cryptocurrency. Trudging lightly and staying informed helps manage one's risk.

#Crypto #Investing #Solana 

Ethereum is moving from Proof-of-Work to Proof-of-Stake in 1 month! 

You’ve probably read about Ether’s planned move to proof of stake. However, its latest promised date is September 19th and in this case, it is fast approaching…📓

As a recap, it's a huge deal for the crypto lovers as dominant cryptocurrency, Ethereum operated by proof-of-work, is off to change its ways. To break it down:

Proof-of-Work:

• POF is a “consensus mechanism” including whole lot of computers trying to solve a cryptographic puzzle in order to add new info onto a database, earning a reward in return. 🌐

• It's not only super expensive but it also uses A LOT of energy ⚡️

• An estimated 130 terawatts per year are used to mine bitcoin 😳

Proof-of-Stake: 

• POS randomly chooses validators that will confirm that each transaction made on the blockchain is reliable, which then compensates each machine with crypto. 🎲

• POS fans say it will utilize 99% less energy than POF⚡️

• Upgrade would speed up the network to reach between 15 and 100,000 transactions per second 👯‍♀️

📝 What does this mean in general? The merge could encourage countries with economic drawbacks into Ethereum. It could also encourage more transactions given the network speed up. Ultimately, it would have a hugely impact the how cryptocurrency is adopted given the improvement on todays e-waste problem. This means more investors, greater infrastructure to support the Ethereum network and country-wide adoptions. 

#Ethereum #Crypto #Network

Note: None of what Cheres shares is financial advice, nor opinions. We simply share the news. 🗞