Stuff you should know: Juul, cannabis and the World Cup
Stuff you should know heading into the last two business days of the week:
Attention, olds: Your kids are juuling. It’s time you figured out what that means. Juul is a really tiny e-cigarette that’s become popular with the teen set because of its very small size, big nicotine punch, ability to recharge via USB, and cool factor. Juul bills itself on its website as a product to “help satisfy smokers when transitioning from cigarettes,” but it’s become a thing in its own right. It’s ridiculously powerful: One single Juul pod (good for about 200 puffs) has the nicotine equivalent of a full pack of smokes, and they come in flavours including ‘fruit medley’ and ‘creme brulee.’ Its maker, Juul Labs, is a USD 16 bn company that’s basically come out of nowhere, having raised another USD 1.2 bn late last week, Bloomberg reports. The company had a 2017 top line of USD 245 mn and expects to rake in USD 940 mn this year with a 70% gross margin a forecasted EBITDA margin for 2018 of about 27%, according to Axios. Big Tobacco should be worried, Morgan Stanley suggests, saying Juul has driven a “revival in the US e-cig market.” The Verge has a really deep dive.
We’re going out on a limb here and saying this ain’t coming to Egypt anytime soon: Second Cup, the publicly traded Canadian coffee chain that opened earlier this year in Cairo, got a share price bump from its spring announcement that it will convert some of its cafés into cannabis dispensaries — but its shares have been on a wild ride since it. Enter Canada’s Globe & Mail, with a look at Second Cup and the perils of investing in mary jane as the country prepares for the end of prohibition this fall.
Wait, there’s still a World Cup without Egypt? Indeed there is, and England was the last team to have snagged a quarter-final berth after beating Colombia 4-3 in a penalty shootout last night. This weekend will see four quarter-final matches before semi finals on Tuesday and Wednesday. The third-place playoff is slated for a week from Saturday, and the final is on Sunday, 15 July at 5:00pm CLT. This weekend’s fixtures (all times CLT):
- France vs. Uruguay (4pm Friday)
- Brazil vs. Belgium (8pm Friday)
- Sweden vs England (4pm Saturday)
- Croatia vs Russia (8pm Saturday)