Can Meme Lords persuade Macy’s to sell Teslas and take Crypto?

If anyone really wants the photos so far this season Heritage, this is the mythical hand of the “shareholders”. For a CEO of a large corporation on the wings of a fiercely contested shareholders’ meeting, the hand can, for example, lure you to a seaside resort on Long Island and make you hike in the sun on dunes to get to a lunch you don’t want at the end. eating bill – among other things.

It turns out that shareholders may have some strange demands in real life. Last week, activist investor and shareholder of Macy’s NuOrion Advisors send a letter to Macy’s CEO Jeffrey Janet, using his position in the company to propose a number of amendments, including: the retailer to move all in for electric vehicles and become “one of the first major retailers to adopt Crypto by joining companies such as Starbucks and Whole Foods. ” In particular, NuOrion wants Macy’s to partner with electric car makers such as Tesla, Lucid or Rivian and present cars on the ground floor of its most notable stores, including Herald Square in New York, Marshall Field in Chicago and Union Square in San Francisco, and add charging stations to the entire footprint of Macy’s store, including parking lots. By adopting these strategies, “Macy’s will cost more than $ 75 a share.”

… Tesla and cryptocurrency? Is this Reddit? Something like! Given the successes in real and actual dollars of meme-driven initiatives behind GameStop and Dogecoin, fueled by the antics of the executive package by Elon Musk and loaded by the Robinhood trading platform, there may be something to this idea. In Bloomberg, columnist Matt Levine considers the stunt economy of all this. “The main problem is that everything is stupid right now,” he began, later suggesting, “If you’re the CEO of a public company, I want you to seriously consider going to an investment conference without pants.” Your stock will go up, your shareholders will be happy and your financing costs will go down. “In short: maybe what looks crazy is good, even good. to supersonic. “

In completely unrelated news, Macy’s shares hit a new 52-week high last week. Maybe the little suffocation of memes is exactly what a struggling retailer needs.

As NuOrion’s letter reads, “We believe Macy’s has the digital footprint and remarkable stores needed to be a world-class New Age retailer.” What is this about the dawn of the Aquarius era again?

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