Zyn mania

Our latest addiction

Good morning, trend trackers. This is your Stock Market Rundown for June 19th, 2024. Thanks for tuning in, once again. Let’s get started:

TODAY’S TOP STORY: NICOTINE… SMOKELESS STYLE

When it comes to nicotine, it seems like Gen Z is on the cutting edge of every fad. A few years ago, Juul e-cigarettes were all the rage in college cafeterias—until they got banned by the FDA.

Now, the latest social media frenzy among edgy youngsters is Zyn. And it’s not just teens—podcaster Joe Rogan and YouTube prankster the Nelk Boys are fans.

So what exactly is Zyn? It's a product you pop in your mouth, kind of like chewing tobacco, except it doesn’t contain any actual tobacco. Zyn pouches are made of plant-based fibers infused with nicotine, plus added flavors like mint, coffee, and citrus. 

Lately, Zyn sales are growing like the weeds on my neighbour Gary’s lawn. Philip Morris, owner of the Zyn brand, expects to ship 520 million Zyn cans in the US in 2024, up 35% from the prior year. Demand is booming so much, there are shortages in some areas—leaving addicts jonesing for their fix.

Cigarette manufacturer Philip Morris bought Swedish Match, the company that makes Zyn, for $16 billion in 2022, in a bid to diversify away from cigarettes.

So are Zyns going to usher in a smoke-free future? Look, these things aren't Flintstones vitamins. They still contain harmful substances like ammonia and formaldehyde. But, sure, they’re probably better than sucking on cancer sticks. So, pick your poison.

SO WHAT ELSE IS GOING ON?

• Dollar General will pay a $12 million fine for safety violations. Hey, at least if you work at a dollar store you don’t have to worry about armed robbery.. the register probably doesn’t have enough cash to buy a Happy Meal.

• Planning a road trip? Gas prices might put up a speed bump in your plans. Experts say record heat and extreme weather could squeeze refinery output over the next few weeks, causing price spikes at the pumps.

• Bill Hwang made millions pumping up stock prices; now, he’s going to be pumping iron at the prison gym. Hwang was just found guilty of fraud charges by a Manhattan jury. 

• Global shipments of PCs were up 3% in the second quarter. I just want a PC that’s integrated with my Samsung Smart Fridge so I can get an alert when I’m running out of deli meats.

That’s it for this week, besties. Have yourselves a fantastic weekend, and I’ll catch you on the flip side. Yours in capitalism, The Axe

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