Latest news with #Silverman
Business Insider
a day ago
- Business
- Business Insider
ETSY Earnings: ETSY Stock Delivers 4% Gain as it Eyes ‘Runway for Growth'
Shares in online marketplace Etsy (ETSY) rose over 4% today as it said its growing AI prowess had helped it create a 'runway for growth' and deliver forecast-beating revenues. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Revenues Boost The group said revenues for the period came in at $672.7 million, up 3.8% on the same period last year and beating expectations of $647.63 million. It was driven by the performance of on-site ads. There had been concerns that tariff uncertainty and changes to 'de-minimis' rules might have hit the stock, but it appears to have weathered the storm. Gross Merchandise Sales (GMS) fell 4.8% year-over-year to $2.8 billion. This was an improvement on the 6.5% drop in sales recorded in the first quarter. Active buyers decreased 4.6% year-over-year to 87.3 million, but as can be seen below, the figure is still steady compared with previous years. The group reactivated 6.5 million buyers in the quarter, a 2.8% increase from the number of buyers reactivated in the prior year, and up 1.3% sequentially. During the quarter, Etsy acquired 4.8 million new buyers. It also noted that GMS per active buyer on a trailing twelve-month basis was $120, showing signs of stabilization. However, it reported a net income of $28.84 million, or $0.25 per share. That's down on the $53.01 million, or $0.41 per share it recorded in the same period last year. It also missed expectations of $0.49 per share. AI Push Etsy chief executive Josh Silverman said that the overall group performance had been helped by the use of artificial intelligence and machine learning in its Etsy App helping to build better, more personalized engagement with customers. 'We are encouraged by our second quarter performance, which reflects tangible progress in our key investment areas,' Silverman said. 'These efforts are designed to strengthen customer relationships on the Etsy marketplace, deepen buyer engagement, and reignite GMS growth. We're seeing early success in our efforts to build a more browsable shopping experience, particularly on our App, amplified by more personalized marketing and emergent AI technologies. We believe this is creating a significant runway for growth.' Is ETSY a Good Stock to Buy Now? On TipRanks, ETSY has a Hold consensus based on 7 Buy, 10 Hold and 4 Sell ratings. Its highest price target is $71. ETSY stock's consensus price target is $54.11, implying a 10.27% downside.
Axios
24-07-2025
- Business
- Axios
What meme stock mania says about the market rally
Meme stocks are back, with GoPro, Opendoor and Krispy Kreme rallying double digits this week thanks to retail investors and Reddit threads. Why it matters: The retail resurgence is the latest signal that investors are willing to take on more risk, as stocks keep hitting record highs and it gets harder to beat the broader market. What they're saying: "The environment is just kind of ripe for it. We're seeing it in crypto as well," Tom Bruni, editor in chief of Stocktwits, a social media platform for retail traders, told Axios. The meme stock rally comes as other parts of the market, from the broader index to bitcoin, are also hitting record highs. Catch up quick: The meme stock craze kicked off during the pandemic, when stimulus checks coupled with time at home to scroll through Reddit threads led to a retail trading boom. Amy Wu Silverman, an equity derivatives strategist at RBC, told Axios that moment represented a "sea change" that hasn't gone away, though there have been fits and starts of mania since 2020. The intrigue: The current moment is indicative of a challenge institutional investors also face: how to beat the S&P 500 when Big Tech is the dominant driver of returns. Retail investors are looking for "catch up plays," Bruni said. Institutional investors are looking for opportunity as well. "This is kind of…the deep dark secret, which is like, I don't know, do you have an edge?" Silverman said. Between the lines: Wall Street is paying more attention to retail activity. "The biggest question I've gotten recently from my clients is like, how can we get ahead of it?" Silverman said. "You need to read Wall Street Bets," she said, referring to the uber popular Reddit forum. How it works: Here's the anatomy of a meme stock, per Bruni and Silverman: Companies with high short interest (investors are betting against them). Nostalgia plays and brand names that people can get behind. A fundamental case for a revival, likely shared on a Reddit thread, which then goes viral and grabs the attention of other investors. What we're watching: When does the party stop? Watch for the short squeeze element to be over. Look for calls outweighing demand for puts on the options market. If that gets really high, it indicates "peak meme frenzy," Silverman said. Even if the meme stock rally loses some steam, the broader market rally is showing no signs of letting up in the near term. The bottom line: Meme stock traders are no longer a punchline. They've become a force that Wall Street, begrudgingly or not, has to monitor.
Time of India
03-07-2025
- Business
- Time of India
They tried Made in the USA - it was too expensive for their customers
NEW YORK: When Plufl co-founders Yuki Kinoshita and Noah Silverman pitched their "dog beds for humans" prototype to Shark Tank in 2022, they envisioned making the plush, snuggly, memory foam beds in China and selling them at retail in the U.S. for $299. Mark Cuban and Lori Greiner invested $200,000 jointly for 20% of the company, which went on to make over $1 million in sales in 2023, selling beds on Amazon and their own website. After U.S. President Donald Trump slapped a 145% tariff on items imported from China in April, Kinoshita and Silverman sprung into action, investigating if retailers would be interested in selling a U.S. made version of their human dog beds. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Compare Spreads: Bitcoin vs Ethereum CFDs IC Markets Learn More Undo The retail price might go higher, but they thought a "made-in-the-USA" label might be an attractive selling point and help ease some U.S. retailers' concerns about the impact of China tariffs. Silverman and Kinoshita had previously toured a factory in Las Vegas that could make the memory foam beds for $150 per unit compared to the $100 overall cost to make the beds in China. But that $150 manufacturing cost didn't include the faux fur lining for the cover, which would still need to be imported from China—adding another $100 per unit. Live Events They pitched a sub-$500 made-in-the-USA version to Costco , which it turned down, saying it couldn't stock the product this year and might revisit the idea next year. Costco did not respond to a request for comment. The duo behind Plufl are among tens of thousands of American small and midsize manufacturers facing the choice between paying steep tariffs on Chinese imports or taking on significantly higher domestic production costs. Even those willing to pay more to make goods in the U.S. are confronting another reality: retailers set prices for consumers and have been largely unwilling to budge in the face of tariffs. On June 11, when Trump announced a deal to lower tariffs on Chinese goods to 55%, Kinoshita and Silverman decided to stay the course manufacturing their human dog beds in China and maintain the $299 retail price. "We're absorbing costs in a number of ways, such as finding shipping efficiencies by shrinking the box down more and also taking some hit on our margin," Kinoshita said. White House spokesperson Kush Desai said the Trump administration remains committed to reviving U.S. manufacturing, citing provisions in the Big, Beautiful Bill, which passed on Tuesday with a slim majority in the Senate, such as allowing businesses to fully expense equipment investments. "These complementary policies will turbocharge growth and drive investment throughout the supply chain,' he said in an emailed statement. Drinking margins Similarly, Aisha Chottani, another 'Shark Tank' veteran, found that tariffs threaten her ability to sell her products in grocery stores. Chottani, CEO-founder of Moment, makes her healthy, stress-reducing carbonated beverages in Wisconsin, but her packager, CanWorks imports pre-formed aluminium from China, and is thus subject to aluminum tariffs which raised the price of cans from by 20%. When Chottani tried to pass on the 4 cents in additional costs to Albertsons, which carries her $3.99 'Strawberry Rose' beverage at about 30 locations in Texas and New Mexico, her answer was swift. "Albertsons refused any price increases," she said and suggested she either keep the same price or leave. Albertsons did not respond to a request for comment. In February, she launched Moment beverages in Sprout Farmers Markets across the U.S., but was forced to do so with higher-priced cans. "There wasn't enough time to shift production to factories in Vietnam or other places," she said. For now, Chottani is keeping her wholesale price the same even as her costs have gone up. She's raising additional cash from investors and looking to cut costs. "Even in the short term a 20% price hike is huge and is going to wipe out all your cash," she said. Baby tariffs It's not just startups that are struggling. Bugaboo, the Netherlands-based maker of expensive baby gear, owns its own factory in China and would seem to be well-prepared to weather tariffs. The company's popular "Fox 5" stroller, which retails for about $1,500 in the U.S., is made at its factory in Xiamen, China, where 97% of strollers and car seats imported to the U.S. are made, according to ImportGenius, which tracks U.S. import, export records and shipping manifests. But when Trump's tariffs hit, Bugaboo started to reevaluate that strategy. The company had begun studying moving production to other countries in Asia to have more regional production flexibility as well as the U.S., but any move would be years away. It took Bugaboo a number of years to establish its Xiamen operations. If it had to build a similar setup in the United States, it would take the same time. "Even if we start now, it would take several years to set up operations," said Chief Commercial Officer for North America, Jeanelle Teves. The U.S. currently lacks a specialised manufacturing footprint for baby strollers that requires advanced tooling, high-grade materials, and a skilled labor force. "It's not just about assembling parts; it's about engineering performance and safety," she said. In the meantime, Bugaboo decided to pass some of those costs onto customers, raising prices $50 to $300 on several products including high chairs, play pens, and a new version the Fox 5 stroller on May 20. 'The increases do not fully offset the tariff, and Bugaboo is continuing to absorb part of the cost in order to minimise the impact on American families and retailers,' Teves said. Taking notes Pensacola, Florida-based Simplified, maker of high-end notebooks, cards and stationery, can make a day planner complete with a hard cover, gold corners, foil and colour printing for about $12 in Shenzhen, China, where many U.S.-bound paper products are made. After the tariffs hit and small businesses began feeling the pain, CEO-founder Emily Ley said many people asked why she didn't just move her manufacturing to the U.S. 'The United States simply does not have the infrastructure," said Ley. The problem? Producing the same planner in the U.S. would cost $38 - and that's with lower-quality materials. Ley said she keeps her manufacturing costs at 25% of the $64 retail price of the planners. She said she can't pass on the cost of tariffs, because then her planners would cost $100. 'People aren't gonna pay $100 for a paper planner, nor should they,' said Ley, who has filed a lawsuit against Trump alleging that his use of emergency powers to enact tariffs was illegal. In the meantime, Ley is absorbing the cost and continuing manufacturing in China, which means cutting back on other areas like investing in growth, jobs, salaries and advertising. "You know, we're all encouraged to pursue the American dream and create businesses,' Ley said. 'The tariffs at any level are truly punitive. It seems kind of counterproductive to the whole point of this whole thing.'
USA Today
26-06-2025
- Sport
- USA Today
Ben Silverman odds to win the 2025 Rocket Mortgage Classic
Rocket Mortgage Classic details and info Watch golf on Fubo! Silverman odds to win the Rocket Mortgage Classic PGA odds courtesy of BetMGM Sportsbook. Odds updated Wednesday at 3:09 PM ET. For a full list of sports betting odds, access USA TODAY Sports Betting Scores Odds Hub. Silverman odds to finish in the top 5 at the Rocket Mortgage Classic Silverman odds to finish in the top 10 at the Rocket Mortgage Classic Other betting markets for Silverman at the Rocket Mortgage Classic Silverman recent performances Silverman has played 14 tournaments this season, with no top-10 finishes. Silverman has made the weekend and finished in the top 20 on the leaderboard once in his past four events. Silverman will look to make the cut for the fourth straight tournament by making the weekend in this event. In Silverman's last two trips to this tournament, he's finished among the top 20 once. His average finish at the event is 17th.
Yahoo
12-06-2025
- Business
- Yahoo
Mattel taps OpenAI to help it design toys, other products
(Bloomberg) — Polly Pocket may one day be your digital assistant. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban NY Long Island Rail Service Resumes After Grand Central Fire Do World's Fairs Still Matter? Mattel Inc. (MAT), the maker of Barbie dolls and Hot Wheels cars, has signed a deal with OpenAI ( to use its artificial intelligence tools to design and in some cases power toys and other products based on its collaboration is at an early stage, and its first release won't be announced until later this year, Brad Lightcap, OpenAI's chief operating officer, and Josh Silverman, Mattel's chief franchise officer, said in a joint interview. The technology could ultimately result in the creation of digital assistants based on Mattel characters, or be used to make toys and games like the Magic 8 Ball or Uno even more interactive. 'We plan to announce something towards the tail end of this year, and it's really across the spectrum of physical products and some experiences,' Silverman said, declining to comment further on the first product. 'Leveraging this incredible technology is going to allow us to really reimagine the future of play.'Mattel isn't licensing its intellectual property to OpenAI as part of the deal, Silverman said, and remains in full control of the products being created. Introductory talks between the two companies began late last year, he said. Mattel Chief Executive Officer Ynon Kreiz has been looking to evolve the company from just a toy manufacturer into a producer of films, TV shows and mobile games based on its popular characters. OpenAI, meanwhile, has been courting companies with valuable intellectual property to aid them in developing new products based on iconic brands. 'The idea exploration phase of creative design for companies like Mattel and many others, that's a critical part of the workflow,' Lightcap said. 'As we think about how AI builds tools that extend that capability, I think we're very lucky to have partners like Mattel that we can work with to better understand that problem.' On Tuesday, OpenAI released its newest model — o3-pro — which can analyze files, search online and complete other tasks that made it score especially well with reviewers on 'comprehensiveness, instruction-following and accuracy,' the company said. OpenAI held meetings in Los Angeles with Hollywood studios, media executives and talent agencies last year to form partnerships in the entertainment industry and encourage filmmakers to integrate its new AI video generator into their work. In the meetings, led by Lightcap, The company demonstrated the capabilities of Sora, a service that at the time generated realistic-looking videos up to about a minute in length based on text prompts from users. OpenAI has not struck any deals with movie studios yet because it still has to establish a 'level of trust' with Hollywood, Lightcap said in May at a Wall Street Journal conference in New York. American Mid: Hampton Inn's Good-Enough Formula for World Domination New Grads Join Worst Entry-Level Job Market in Years The Spying Scandal Rocking the World of HR Software US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Sign in to access your portfolio
