The Best One Yet - 🐕 “Much Doge Day” — Dogecoin’s 4/20 holiday. Manchester United’s super league. Peloton’s danger warning.

Episode Date: April 20, 2021

Dogecoin has surged over 8,000% in 2021 to become the 4th biggest crypto… just in time for its joke unofficial holiday (much happy). ManU and its buddies whipped up a new international soccer super league that’s the biggest move in sports capitalism in a year. And Peloton’s stock fell 10% at one point yesterday for messing with the 1 rule of crisis management.$DOGE $MANU $PTONGot a SnackFact? Tweet it @RobinhoodSnacks @JackKramer @NickOfNewYorkWant a shoutout on the pod? Fill out this formGot a SnackFact for the pod? We got a form for that too!Learn more about your ad choices. Visit podcastchoices.com/adchoices Hosted on Acast. See acast.com/privacy for more information.

This is Nick. This is Jack. And this is Snacks Daily. It is Tuesday. Tea Boy, Tuesday, 420. Snackers, happy 420 day. I got to tell you, though, on 419. Yeah, Jack.

I learned that baby sleep atop running washing machine, snake. Washer or dryer? Drier. I'm glad you asked. He likes the heat for Matt. Trick question. It's both. The best one yet.

That's what this pot is. Jack, what are we got for our first story? Doge corn has jumped. Are you ready for the Snackers? Please, Jack. 8,000 percent in 2021. and it still priced under $1. Yeah, now it's hoping to hit $0.69 today.

It's fake 420 birthday. For our second story, Manchester United and its elite soccer buddies just created a rich rebel soccer league. We're talking the Super League here. European soccer meets American capitalism. For our third and final story, Pelton stock dropped 7% yesterday because the U.S. government warned parents of kids and pets

not to use the Peloton treadmill. Peloton whipping up a case study in crisis management. I mean mismanagement. But before we hit that, honestly, wonderful mix of stories today, Jack, we got a whole update to the hoarder's almanac while you were gone last week. I got to tell you about this. We started the hoarder's almanac in March of 2020 because we were running out of hair clippers. We ran out of Clorox.

Who didn't? Recently, we ran out of ketchup packages. Get this. You're going to sit down and stand back up when you hear it. We just have our first ever unshortage. Snackers, the toilet paper drought of 20. 2020 is officially over. Yeah, early takeaway here, Americans now have too much toilet paper.

We got ourselves a TP surplus, baby. One year ago, we all remember where we were. Your grocery store opened up 12 packs and they were rationing one roll to each human being. Was that just me? I had to stick on a mustache and come in to get a second roll. It was contraband. You'd strap them on underneath your jacket on your person and walk out the store, hoping no one saw you.

But stackers, according to the Wall Street Journal, toilet paper sales fell in America for the first time last week since a year ago. I mean, because we got some light at the end of the pandemic tunnel over here, Jack. As long as we keep our masking up and vaxing up until the pandemic end. And then people are willing to deplete their toilet paper stockpiles finally. Finally, suburban pantries are starting to not look like a Costco shelf. I'm sorry, buddy Timmy was like hiding Charmin in his wall like some drug cartel. Who's ripping out the backup roll?

He packed in his mattress, mattress, mattresses. Soilet paper, it is officially off the hoarding almanac. What is the number two thing to get removed from the hoarder's almanac? We want to know what you think. Tweet us a Robin Hood Snacks. Let's hit our three stories. You're tuned in the snacks daily. We spoke to the lawyers and we got to get something legal out the way.

The snacks about the hearing food is air candy. They don't reflect the views of the Robin Hood family. It's all informational just so you know. We're not recommending any securities. Nope. It's not a research report or investment. advice. Not an offer or sale of a security. Snacks is digestible. Business news for you.

Robberhood Financial, LLC, member Fenra slash SIPC. For our first story, Dogecoin just jumped like almost 600% in the last week to become, you know, the fourth biggest cryptocurrency on planet Earth. All right, let's get this straight. Dogecoin was created as a joke. All right. It's surge hasn't been a joke. No, it hasn't. But today is Dogecoin's holiday. But Jack, let me just finish this for you. Which is actually a joke.

Snackers, Dogecoin, a cryptocurrency created in 2013. Oh, yeah. Now, the creators of Dogecoin, they actually told the Daily Show back in 2017, they made it for fun. It's basically the silly putty of crypto. The creator said it himself. He took Bitcoin code and added a meme dog face on it. That's what you're going to make the font, comic sands, and boom, there you go.

You get a viral meme cryptocurrency. It's the first crypto we've seen with a mascot, which is a Shibu Inu Dog. You've seen it online. Which, not a lot of people know this, the Shiba Inu is the only animal with a puppy face for its entire life. It's the panda of the dog world. We checked with the Westminster dog kennel. We did, we did. It's true.

Now, as of recording this on Monday afternoon, Snackers, the value of one doge coin, if you just want to buy like one doge coin, is 39 cents. It's going to cost you less than a buck, 39 cents to buy a doge coin. But that's after the price quintupled in the past five days. And get this. Please. It's up 8,000 percent. in 2021. I'm sorry, I had to sit down and stand back up. Jack, can you repeat that again? Well, 8,000 percent. I don't even know what that means. So let's talk about the actual price.

Okay. It was five hundredths of a cent. A doge coin was on New Year's Eve, just like four months ago. And then one week ago, it was seven cents for a single doge coin. That was it. Big jump from five hundredths of a cent. And yesterday, it had 39 cents. Wow. So if you take all the doge coin, all of the doge coin out there in the world that are worth 39 cents, Add them up, the market cap as if it were a company, would be $50 billion. That means Dogecoin is worth more than Ford stock, DoorDash stock, Chipotle stock, Shocker. Marriott stock, Walgreen stock.

Should I go on? Jack, I'm sorry, can I put this in terms you may understand? It's worth two and a half lifts. Let's talk more about Dogecoin. If Bitcoin is the Hermione Granger of cryptocurrency, I love this. Dogecoin is the Fred and George Weasel. You know, for all its wild price volatility, Bitcoin's a lot more accurate. academic dogecoin, just trying to have a little bit of fun.

The main application of dogecoin right now, besides speculative investing, is tipping influencers on certain platforms. All right, so, Jack, if, like, Bitcoin was built from brilliant Satoshi Nakamoto's paper on decentralizing currency like it was, you know, a college term paper. Dogecoin was created once again. Yep. As a joke, self-proclaimed by the creator himself. And Jack, if Bitcoin has a limited quantity that will never exceed 21 million, which is mined by

supercomputer solving intense algorithms. There is no limit to the number of Dogecoin that can be created. So there's unlimited quantity of this stuff. Charming. And Bitcoin is gaining value on the belief that it could become an alternative currency. Dogecoin could gain value today because it's April 20th. It's 420. It's Dogecoin's Joke 420 holiday that's gone viral. And the goal for the internet today is to get Dogecoin to 69 cents because high school, much fun, much fun, high school. Jack. What's the takeaway for our budget? But he's over at Dogecoin. The Dogecoin rally is a cocktail of five cultural trends.

Yep, Snackers. You know, we can't like analyze Dogecoin's price like we would, say, I don't know, Procter and Gamble stock. Procter and Gamble stock is built on profits and forecast. Dogecoin is built on this unique cultural moment. But here's what Jack and I can do. We can analyze culturally why Dogecoin is surging right now. And it's because of the perfect cocktail of timing. Ingredient number one, faux momentum.

Millions are stuck at home. watching people post online Doge memes and the gains they've made on DogeCorp. All right. And then you got part number two, celebrity endorsements. Jack, you got Elon, Mark Cuban. You even got Slim Jims and a car on NASCAR all promoting Dogecoin right now. They've all jumped on the train. You also have cultural investing because on Reddit, there's a community of 1.4 million DogeCore fans supporting the price going up. Oh, and then, Jack, you got to throw in one part, stick it to the man. Because if you're buying a dog mascot cryptocurrency, you're kind of mocked.

and the Goldman Sachs equity trader who's still wearing a suit at home. Finally, you got the stimmies. We all got stimulus checks last month. Yeah, you did. One doge coin costs only four dimes. So you can get a lot of doge. Snackers, a cryptocurrency has just gone viral for the same reason any meme goes viral. The internet decided it should go viral. But the culmination of these five cultural trends, that made this rally possible. And just as quickly as faux momentum can drive a price up, it can potentially take it down to. For our second story, Europe's wealthy soccer clubs, shockingly, just created like their own super soccer league out of nowhere. Big story came out of nowhere.

This is like LeBron's 2010 decision to go to Miami. I like what you're thinking. But for European soccer. This is how it went down. American capitalism has finally come to European soccer. Snackers, let me sprinkle some context here. Can you please? The highest levels of European soccer, it's not like the NFL.

No, it's not. It's more like Rhode Island Division I football. That's basically what you're looking at. Somewhere in between like modified football in the JV situation, in France, the UK, Spain and Germany, and Italy, you got the pro soccer leagues. You got the big ones there. You have one Premier League in each of these countries to play soccer, but then you also have a bunch of professional lower leagues beneath them. But here's the key. There is an interesting relationship between the two known as relegation and promotion. Each year, the three worst teams in the top League, they get booted out and replaced by the three best teams in the lower division.

It is an extremely inclusive and awkward and not really commercially viable concept. As a result of this, you get Manchester United, a billion dollar club that David Beckham used to play on competing against West Bromwich Albion. That's a real club team in the UK in the Premier League right now. Jack, what was the team we saw play in London where like you had to B.YOS bring your own seat to the game? That was Millwall. It was cold.

The crowd didn't care because they had beer jackets. And it was a little dangerous. But that's the way European soccer has been for an entire century until they announced the results of some secret talks just last weekend. The United Kingdom's top soccer clubs just ganged up with Spain and Italy's top soccer clubs. Oh, yeah, they did. To form a super league, their name of 12 of the richest European soccer clubs.

All right. So, Jack, you got Real Madrid. You got Chelsea, Juventus, et cetera. They're planning to invite like three more rich. clubs onto their rich club yacht situation. We think Bayern Munich's going to get included too. And that led to Manchester United, which is not just a soccer team. It's also a publicly traded stock that jumped 7% in New York on Monday. Yeah, New York Stock Exchange. Juventus, the Italian soccer club, up 17% on the stock exchange in Milan. That's because this Super League is an elite

league for elite teams only. And each game on the schedule is going to be like an international blockbuster with prime time marketing. I mean, if you're man, you, you're a man, you're not taking the subway to West Brom, you're taking your net jets to the palatial Bartholona Stadium. Did I say that correctly? I think so. That's why this outcome is going to badly hurt some of the smaller clubs that have benefited from the glitz of huge programs coming into their city to play once in a while. Like our BYU seat fans over at Millwall. But this very new league is actually leading to an international business tournament.

Yes. And that's why UEFA and FIFA, the quasi-governmental bodies that call to shots of international. National Soccer. They are furious about this announcement, which they really got blindsided with. You can blame him, Jack. This Super League is essentially a coup, and it's financed by, get this, $6 billion in cash from Mr. J.P. Morgan Chase himself. The fact that it's an American financier adds insult to injury of this European coup. Yeah, and they're going to have to repay J.P. Morgan with boatloads of money because every single game, it's going to be a blockbuster. And the TV rights of this super deal, they're probably going to get bid on by NBC. And I'm

America, which is owned by publicly traded Comcast. And ESPN across the whole globe, which is owned by publicly traded Disney. So, Jack, what's the takeaway for our buddies over in the football industry? European soccer just adopted some American capitalism. Like it or hated, here is the certainty of American sports. American sports, their business first. I know what you're going to say, Jack. What was Steinbrenner thinking when he traded Jay Bune? Cashman. Cashman. Even college sports, they will abandon tradition and fan favorites just for like, you know, just the little bit of more revenue. That's all they want. As a diehard loyal fan in like lots of sports, it really bums me out when they do that here. Can you say diehard loyal fan of like everything? Does that work? I think so. I think it's not exclusive. I mean, it's not rounding. But Snackers, every game in this Super League, it's going to be built to sell. It's going to be made to commercialize internationally. Yeah, no more Arsenal's playing some team whose abbreviation is like three random continents, W.HU. No. Manchester United and Juventus. Their stocks,

surged because the leagues decided to sell out from the small money club cities they used to be playing it. And it's replacing them with huge international money because European soccer just adopted American capitalism. For our third and final story, Peloton stock just dropped 7% yesterday after its most expensive product ever gets canceled. We think it's a case study in crisis mismanagement. Key word there. Now, 2020 Peloton is a dollar. Darling, sales doubled of Peloton bikes and the stock quintupled up 400%.

Can I remind you of like the humble brag of the year? I'm all right. I'm doing okay, but the Peloton's going to take two more weeks to ship and be delivered. It's small talk that's going to get you some dirty looks from whoever you say that too. The Peloton's great, but like the Bluetooth takes a couple seconds to connect.

Now Peloton, though, after 2020's year-long hill climb, it apparently pulled a hammy because the stock is down 26% this year. Basically, it's down 26% since I bought the stock. And here is the funny thing about that, in addition to Jack's incredible investing saviness, is that the stock fell another 7% yesterday because the Consumer Product Safety Commission

urged Americans to get this, stop using Tread Plus if they have kids or pets. Now, Consumer Product Safety Commission, a federal agency, Nick and I didn't know existed. No, we didn't. By the way, have you been on one of these treadmos before, one of their tread pluses? I have not. I use one at a hotel. It is like the size of a fiat. This thing has a chance. Well, the CPSC said, stop using the Peloton Tread. They later said in the smaller print,

only if you have small children and pets. Now, the important thing here is that there have been a shocking 39 incidents in one death involving children and pets getting stuck under this, like, huge behemoth treadmill. They posted a video to YouTube. That is disturbing. Don't watch it. Nick and I watched it, unfortunately. It shows a child. playing near the back of one of these treadmills, and like the mill sucks him under. It's very, very dangerous. This video is so intense that it's gotten nearly a million views in less than 48 hours. Huge problem for Peloton for two reasons. Yes, it is. First, the treadmill's $4.3,000. It's their most expensive product. It's their profit puppy. This is their profit puppy.

It ironically costs more than a real puppy, and apparently it is a danger to a real puppy. Problem number two, Peloton's value proposition is very good for parents of children and parents of pets who like don't have time to go to the gym. They pitch this product to people who have a three-year-old and a cockapoo. That's their target audience. We don't have data, but we bet a big percentage of Peloton owners have kids and pets. So you're probably wondering what the Peloton response to this intense allegation was. And Jack, can you share the intense response? Well, they claim that the CPSC statement was misleading and inaccurate. rent. And they basically told the Peloton users, keep using the treadmill. They were like, just

follow the instructions, which include keeping pets and kids away at all times. Just keep doing what you're doing. Don't stop using it. They're like, look, it's on the sticker. We said make sure kids and pets are away from this thing. So Jack, what's the takeaway for our buddies over at Peloton? The number one rule of crisis management is to overcorrect. And Peloton seems to be doing the opposite. Snackers, if the federal government wants people not to use the product you make due to a safety issue, you should probably do something about that safety issue. You might want to, but Peloton won't. Instead, they just said our CEO already emailed treadmill owners in March, warning them about this issue and reiterating it's on the sticker. And here's what they're probably

thinking. Recalls are expensive. For Peloton, it's like extra expensive because he's got to send in the moving guy who's got to schlep it out of a basement and get it to the shop. Or instead of a recall, Peloton could make like a plastic guard and tell owners to put it at the end of the treadmill to solve the issue that way. A little bit cheaper. Well, Snackers, remember last year, we told you something fascinating about Peloton. They were spending next to nothing on marketing because they were getting all this free press. They were so popular, word of mouth from Peloton owners. That's all they needed.

They didn't need to pay for a Facebook ad. So here's what Jack and I are thinking with this challenge. Use that saved money from the marketing you didn't spend it on and do something to preserve your good reputation. And potentially preserve some kids and pets from some danger. Even if technically a recall isn't necessary, the brand and stock of Peloton just took a $3 billion hit yesterday. We think it's cheaper for Peloton to splurge on trust in the short term now than to scramble and rebuild it later. Overcorrect. Jack, can you whip up the takeaways for us over there? Dogecoin was created as a joke, but has become an

incredibly popular asset. Here's the thing. The punchline, it's TBD. European soccer just killed century old traditions for more money and more marketing. So what you're trying to say is American capitalism has come to European soccer. By the way, this is, just in the UEFA and FIFA. They're trying to like ban players who play in the Super League from the World Cup. They're trying to stop this. I'm sorry, did you just breaking news us over there? Is that a breaking news thing?

What's our third and final takeaway here? Peloton's treadmill has been flagged by the government as a danger to children and to pets. Pelton, you dropped rule number one at crisis management. Always overcorrect. Now, it's time for our snack fact of the day. This one tweeted in by Alyssa Zotterer and her friend she dug, who she happens to be walking right now while listening to this in Great Neck Long Island. Okay, apparently French Bulldogs. You ready for this, Snackers?

This is great. They're originally from England, not France. Disturbing. But then here's the wilder thing. In 2016, French Bulldogs became the most popular dog breed in New York City and now the fourth most popular in all the United States. This breed has been in the Westminster Dog Show in Madison Square Garden, I think, since 1897, but has never won the competition. And do you know who they can blame? Poodles. Apparently the standard poodle has won first. four times and it's in the same division as the Frenchie. Did we mention the Westminster Dog Club twice in this pot?

Spoiler, we did. I mentioned it with the Shibuino. Technically, we mentioned dogs in all three stories, not telling anyone to look into that. You know what happens if you put an E at the end of the word dog? Snackers, you look fantastic today. I can't wait for this tomorrow. Let's do this tomorrow, check. I'm in, and Snackers, share this with your friends if they want a snack daily.

H-Y-H-Y-S-D. Have you had your snacks daily? If you know, you know. And before we go, happy birthday to Zach Zuzek over in Coppola, Hawaii. And Kyle Clancy in Davis, California. And Macy Weber in Madison, Wisconsin. And Mark Levy and Margaret Nash in New York City. And Caroline turning 25 in Boston.

Happy 10th birthday to Jaden in Tucson, Arizona. And happy birthday to Tommy Millstone in lovely Los Angeles. And Blake Sinyard from Kitty City, D.C. And Alex Chang just got the new job down in Tustin, California. Congrats to Karen and Nick for getting married in Orlando, Florida. And Alvin and V, three-year anniversary down in Los Angeles. Happy eight years together, Rich Inman and Whitney Orina in San Diego, California. We got boyfriend Edwin got the birthday down in Colorado Springs.

And JJ Redding got a new job at Kodoba. Interesting. Where apparently they're not charging extra for guac. But let's just tell you something, JJ. You're paying for it in the chicken. It's always extra. This is Jack. I own stock of Belton, Nick on stock of Chipotle.

The Robin Hood Snacks podcast you just heard reflects the opinions of only the hosts who are associated persons of Robin Hood Financial LLC and does not reflect the views of Robin Hood Markets, Inc. or any of its subsidiaries or affiliates. The podcast is for informational purposes only and is not intended to serve as a recommendation to buy or sell any security and is not an offer or sale of a security. The podcast is also not a research report and is not intended to serve as the basis of any investment decision. Robin Hood Financial LLC, member FINRA, SIPC.