Glass bottle shortages strain wine and spirits firms

Glass bottles move down a conveyor belt on the Jack Daniel’s Single Barrel Select Tennessee whiskey bottling line at Jack Daniel’s Distillery in Lynchburg, Tennessee, United States, on Thursday, Jan. 30, 2014.

Luke Sharrett | Bloomberg | Getty Images

From whiskey distillers in the humble hills of Kentucky to winemakers on the sunny slopes of California, the demand for glass bottles has exceeded supply this year, a chain reaction partly sparked by the coronavirus pandemic.

The global supply chain – already long and tangled in the United States – continues to bear the brunt of rising consumer demand, labor shortages and overseas production delays, leading to higher transportation costs and inflation.

David Ozgo, chief economist for the Distilled Spirits Council, said glass shortages are being felt across the industry, be it tequila, vodka or whiskey.

“While some of the big distilleries have multi-year contracts for millions of bottles, in some cases they find that they have to choose the bottle sizes they will get,” said Ozgo. This could eventually lead to an even narrower range of bottles with smaller volumes, as the focus will likely be on the more common sizes of 750 milliliters and 1.75 liters.

In the short term, some consumers may have to put more effort into finding their favorite alcohol.

“From a consumer perspective, if you want a special bottle for the holiday season, you may have to go back to the store a few times before you find her,” said Ozgo. “But I put it this way, over 16,000 spirits products are launched every year, so this could be an opportunity to try a new drink.”

Change to new suppliers

Castle & Key Distillery in Frankfort, Kentucky, is one of many distillers who have switched glass suppliers given supply chain problems.

“The factory we worked with in the UK had a coronavirus outbreak and had to shut down completely, leaving our production at least a few months behind schedule,” said Jessica Peterson, operations manager at the distillery.

Peterson said that when it reopened in the UK, the distillery was forced to address supply chain issues and had to temporarily switch to air freight due to delays in sea freight.

“The preferred method would normally be ocean freight,” Peterson said, adding that ocean freight costs tripled during the pandemic. Since then, the distillery has moved to a supplier in Guadalajara, Mexico who delivers orders by rail.

“Since the transition, we’ve had a steady supply of glass,” said Peterson.

“I’ve heard from other people that the demand for shipping containers has grown so much that they are paying almost $ 6,000 or more than $ 20,000 for the container alone. And that’s just crazy, “she said.

Shipping containers are stacked in PortMiami after being unloaded from a boat on November 4, 2021 in Miami, Florida.

Joe Raedle | Getty Images

To avoid future supply chain bottlenecks, the distillery is no longer ordering six months in advance but at least two years ahead of schedule, Peterson said. Still, the disruptions have increased the distillery’s production costs, she said.

“Currently we have not passed a price increase on to consumers. But that could definitely come,” she said.

Made in the USA

New York-based supplier Waterloo Containers has increased its prices on imported glass for its customers. Most of Waterloo’s inventory for glass wine and liquor bottles comes from the United States, with about a tenth from abroad. Domestically produced glass has seen lower price increases, mainly due to higher freight and energy costs, according to Bill Lutz, its president and owner.

Problems with Waterloo’s imports started about six months ago, Lutz said. However, with such a small portion of its glass being imported, Waterloo doubled its orders this year as supply chain issues arose and wineries and distilleries looked for new suppliers.

Waterloo is also a warehouse supplier rather than just-in-time, so it always has extra inventory on hand.

“We actually delivered more bottles from our store to the west coast this year than in the last 20 years,” said Lutz.

Most of the glass bottles used in the United States come from abroad. Years ago, glass manufacturers relocated their production to countries where glass could be made more cheaply – mainly in Asia.

Mauricio Perez, North American regional director of Panamanian glass supplier BPS Glass, estimated that 60 to 70% of the glass bottles used in the US were from China, at least before the Trump administration’s trade war. Tariffs on glass imports from China convinced some manufacturers to instead import glass from factories in Europe or Latin America to meet demand.

Then the pandemic struck, with waves of new cases followed by further lockdowns creating supply chain problems around the world.

For winemakers outside of the United States, the problem is even worse. According to Perez, wine and liquor makers in Latin America are facing tougher bottlenecks as some companies switched to glass made in places like Chile rather than China during the trade war.

It is a situation that is not easy to resolve. Building glass furnaces or setting up new production lines can take a year or two.

“The glass supply cannot return to the USA because the manufacturers’ glass capacities are simply no longer sufficient,” said Lutz.

J&J plans to separate into two corporations, separating shopper merchandise and pharmaceutical companies

Health conglomerate Johnson & Johnson announced plans on Friday to spin off its consumer products business from its pharmaceutical and medical device businesses, creating two publicly traded companies. The news sent stocks up in pre-trading hours.

The separation will separate the Household Products division, manufacturer of patches, Aveeno and Neutrogena skin care products, and Listerine from its riskier but faster growing division that makes and sells prescription drugs and medical devices, including his Covid-19 Vaccination.

“After a thorough review, the board and management team believe that the proposed separation of the consumer health business is the best way to accelerate our efforts to serve patients, consumers and healthcare professionals, opportunities for our talented global community Create a team and drive profitable growth, and most importantly, improve health outcomes for people around the world, ”outgoing CEO Alex Gorsky said in a statement.

The company hopes to complete the transaction in 18 to 24 months. The Pharmaceuticals and Medical Devices division, which includes advanced technologies such as robotics and artificial intelligence, would keep the Johnson & Johnson name and keep J & J’s new CEO Joaquin Duato at the helm.

Gorsky told CNBC that the company has yet to set a name for the new publicly traded consumer business.

He said the decision to liquidate the company had been discussed by his board of directors since “it came” as it would present “tremendous opportunities” to stakeholders.

“It is in the best long-term interests of all of our stakeholders,” he continued.Squawk box. “” Our goal is to create two world leaders – a pharmaceutical and medical device business that has huge potential today … and of course the iconic brand consumer business. “

Duato will take on the role as planned in January. These segments are expected to generate sales of around $ 77 billion, while the consumer goods division is expected to sell around $ 15 billion in products this year, the company said.

His yet-to-be-named consumer products company will also inherit litigation arising from lawsuits over allegations that its Johnson’s Baby Powder causes cancer, allegations the company has vehemently denied.

Gorsky said the consumer division has four brands alone with annual sales of more than $ 1 billion. The separation will allow the company “even more agility” and “better opportunity to allocate capital,” he said.

J & J’s shares rose more than 3% in pre-trading hours following the announcement.

With Gorsky’s departure as CEO, J&J already went through a major transformation. He will remain in office as Executive Chairman of the new J&J, the company said.

In addition, the company planned to keep the total dividend “at least at the same level” after the change. J&J currently has a dividend yield of around 2.6%.

The announcement comes just a few days later General electrics said it plans to split into three separate publicly traded companies and to spin off its medical and energy divisions from the aviation division.

– CNBCs Berkeley Lovelace Jr. contributed to this report.

Jim Cramer says Common Electrical breaking apart into three firms is the appropriate transfer

CNBCs Jim Cramer cheered on Tuesday General electrics‘s plan to split into three separate companies focused on energy, aviation and healthcare.

While the possible breakup of the American industrial conglomerate may seem symbolically bleak, the Mad Money host said it was the right and necessary financial move and he trusts GE CEO Larry Culp to carry it out.

Culp, who acquired GE in 2018, “saved the company, and while we may miss the GE name, the divisions themselves were a house that, of course, couldn’t hold up,” Cramer said.

Cramer said Culp did an excellent job streamlining GE’s business structure and cleaning up its balance sheet after it was impacted by the financial crisis. However, Cramer said it made no sense to hold the remaining units together at this point.

“Let me put it this way: if you started a business today, you’d never start one that’s part aerospace, part health care, and part energy, including renewable energy,” said Cramer.

GE plans to outsource its healthcare business by early 2023 and its energy business by early 2024, according to a press release from the company. The current GE will be the aerospace-focused company.

Once that happens, Cramer said the standalone companies will be easier to deceive for Wall Street analysts and investors alike.

“Even at its peak, that combination hasn’t wowed anyone in twenty years so you had to do it,” said the former hedge fund manager, but suggested that as separate entities it could be a different story.

“A healthcare company based on high-demand MRI machines that they can’t even get enough of? That’s good, ”said Cramer. “The power and renewable energy business could be very attractive to asset managers looking to go green – and there are plenty of them.”

GE shares rose 2.65% Tuesday to close at $ 111.29 apiece. The stock is up almost 29% since the start of the year, outperforming the S&P 500It’s about 25% profit over the same range.

GE to interrupt up into three corporations specializing in aviation, well being care and vitality

US industrial giant General electrics will split into three companies after years of underperformance, the company announced on Tuesday.

The company will be split into separate units focusing on aerospace, healthcare and energy. GE plans to outsource healthcare by early 2023 and energy by early 2024, the company said in a press release.

GE stock, which was up 55% in the past 12 months, rose more than 6% in early trading Tuesday.

“By creating three industry-leading global public companies, each can benefit from greater focus, tailored capital allocation and strategic flexibility to drive long-term growth and value for customers, investors and employees,” said CEO Lawrence Culp in a statement accompanying the announcement . “We use our technology know-how, our leadership role and our global reach to better serve our customers.”

The steps are still a long way off, so concrete naming decisions have not yet been made, but the current General Electric will be the aviation-oriented company.

Co-founded by Thomas Edison in the late 19th century, General Electric has undergone several changes over the past century as the US economy changes, becoming a leading supplier of equipment, jet engines, and power turbines.

The conglomerate expanded rapidly under the late Jack Welch in the 1980s, moving into financial services and broadcasting again with the purchase of NBC, while generating enviable earnings growth and returns for investors.

GE was the largest company by market value until the early 2000s, but then came the financial crisis. Under the pressure of its ailing financial arm, GE was never able to climb to the top under Welch’s successor Jeff Immelt. The stock was removed from the Dow Jones Industrial Average in 2018 after being one of the original members of the blue chip index until 1896.

Culp, who previously directed Danaher, Took over as CEO of GE in 2018. The company has spun off or sold several of its units under Culp as the board of directors sought to simplify the conglomerate’s business structure.

“We have made a lot of progress over the past few years not only in terms of our balance sheet, but also in improving our core business,” said Culp on Tuesday when he called investors and analysts. “But I think, as we’ve seen in so many cases outside of GE over the past decade, doing good business increases focus and accountability.”

Despite the recent outperformance, GE stocks have outperformed the market significantly over the past two decades. The stock has lost 2% annually since 2009, compared to an annual return of 9% for the S&P 500, according to FactSet.

GE’s decision was praised by Wall Street analysts Tuesday morning.

“The move increases costs, but the agility of three focused companies is likely to be seen as an opportunity to more than offset new costs,” Wells Fargo analyst Joseph O’Dea said in a statement to customers.

The company has been plagued by heavy debt over the past few years that has aroused skepticism on Wall Street. The capital structures of the new companies will be announced at a later date, GE said, and Culp added in a call with investors that the energy segment will have the least debt.

The company announced that it would use the proceeds from the recent sale of its aviation finance unit to pay off debt, with gross debt expected to be less than $ 65 billion by the end of 2021. The spin-offs will incur transaction and operating costs of approximately $ 2 billion. GE appreciated.

– CNBC’s John Melloy and Michael Bloom contributed to this story.

The butterfly impact: Hidden methods firms are shedding cash

The Transform Technology Summits begin on October 13th with Low-Code / No Code: Enabling Enterprise Agility. Join Now!

This article was written by Garret Flower, CEO and Founder of ParkOffice.

When it comes to savings, companies often think very linearly. You are trying to reduce direct spending on staff, marketing, and so on. This has been the case for generations, but I believe this mindset tends to overlook the myriad of ways companies can identify and eliminate certain “invisible overheads”. It is time for companies to take advantage of the butterfly effect and identify the seemingly trivial things in their business that enable significant savings.

Management of back to the office has the potential to become very expensive for many companies. Fortunately, the pandemic has made an explosion in the Digitization of many workforces. This opens up a world of possibilities when it comes to the cost of go back to work.

So what should companies watch out for to make sure they are spending smartly while working smartly?

Avoid spending too much on maintenance and cleaning

With the return of the office, it seems sensible to double the cleaning and maintenance functions. Hygiene is of tremendous importance in fighting COVID-19, but in my opinion, aimlessly increasing spending here could be a cost that you just don’t need.

Think about it: With hybrid work, large parts of your office are empty for large parts of the week. Investing in good maintenance management software can save a lot of money. It would allow you to switch from ongoing flat-rate coverage to on-demand coverage. Gone are the days of maintenance staff patrolling the office looking for work to get done. With technology, everything can be reported and answered promptly and efficiently.

Get a handle on employee parking

Even poor parking management for employees before the pandemic costs companies a lot of money and also took its toll on employees. Research shows that up to 23% of the employees give up at some point in your professional life due to a difficult commute.

When employees return to the offices, the focus on parking will multiply. On the one hand, the reluctance to use public transport will boost demand. On the other hand, due to the hybrid working, the demand will be much more unpredictable.

Good software for parking space management ensures that the parking chaos never raises its ugly head again. By monitoring demand, providing real-time availability and automating parking allocation companies, all parking problems can be eliminated at the push of a button.

In the long term, the data and findings help companies determine the required parking space and thereby achieve greater direct savings through real estate reductions. Other benefits include increased productivity and time management for employees, and possibly even reduced stress.

Be careful with real estate reproduction

As the world of work opens up again, employers will see an increasing demand for off-site coworking. Research through the Enterprisers project shows that 83% of Americans believe a hybrid work model is preferable for them after the pandemic. I realize that many employees don’t want to return to work five times a week, but want to escape from the storage room.

Suburban coworking offices can benefit as companies fund their employees to work closer to home in more formalized shared environments. This all sounds great, except that most companies are already spending a lot of money on real estate for their office workers.

Tracking and balancing these flexible work expenses becomes more difficult over time. How does a company keep track of how often an employee uses their external hotdesk? How do you know when an employee decided to return to the office full-time?

Introducing a robust real estate spend management solution is a big step here for businesses to find their sweet spot and keep real estate waste to a minimum.

Don’t leave the lights on when no one is home

In the last ten years, intelligent lighting and heating systems in workplaces have increased noticeably. But again, in the context of the post-pandemic landscape, I believe that now is the most urgent time to make sure your business is secure.

Since entire floors may be unused on certain days of the week when companies find their hybrid work balance, companies can hardly afford to have lighting and heating for the entire building when demand is limited.

The advancement in IoT hardware and complementary SaaS solutions makes these systems very accessible for companies of all sizes and the return on investment is very measurable.

Beware of the catch-all software

One little warning I offer companies when they return is to be careful when buying software solutions. The pandemic got a lot of companies rolling, which means the market is now inundated with SaaS products that are still trying to figure out what they are doing. In other words, they don’t do what it says on the tin.

My advice is to avoid the one stop shop solutions that promise to do it all under the sun. Quite often, these software are expensive bugs. Once you purchase the solution, you realize that it does not have the features or product experience you need to solve the problem at hand.

You then have to embark on a whole new product journey to buy specialty products that eliminate the problems. Save time and money and buy the best products to solve your problems from day one.

Garret Flower is the CEO and co-founder of, employee parking management software that enables companies to optimize employee parking.


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Corporations rising extra cautious about delta variant, earnings calls present

A sign describes entry restrictions at a JLL office in the Aon Center in Chicago, Illinois, USA on Thursday, June 24, 2020.

Christopher Dilts | Bloomberg | Getty Images

When the reporting season started in earnest in mid-July, few companies asked questions or mentioned the Covid Delta variant.

That changed as new Covid-19 cases increased and the Centers for Disease Control and Prevention changed their stance on masks for vaccinated people, according to a CNBC analysis of transcripts of calls.

From July 13th through Thursday, 142 companies have been in the S&P 500 of the 410 who reported their quarterly profits mentioned the delta variant by name or answered a question about it in their profit talks. Only 15% of these mentions came before July 27th – the same day the CDC said fully vaccinated people should wear a mask indoors in areas with high transmission rates. New Covid cases also rose steadily as the highly contagious Delta variant became the dominant strain of the virus in the USA

The US reports a seven-day average of more than 109,000 new cases as of August 5, nearly 28% more than a week ago, according to Johns Hopkins University.

For the most part, executives said their companies did not see any significant business impact with the rise in new cases.

Becton, Dickinson & Co., a medical technology company, was one of the few to report a change in consumer behavior and told analysts that fewer elective surgeries have been performed in some US states in recent weeks because of the variant. For the week ending August 1, 72% of beds in intensive care units in the United States were occupied, according to Johns Hopkins data.

But some companies with a more global footprint say it’s a different story outside of the US.

“An uneven recovery from the pandemic and an ascending delta variant in many countries around the world have shown us once again that the road to recovery will be a winding one.” Apple CEO Tim Cook said when the company called on July 27th.

Postings, the parent company of Kayak and OpenTable, said bookings were down 22% in July compared to 2019, a bigger drop than the 13% drop in June.

“In Europe, we noticed reductions in overnight stays in several of our most important countries, including Germany, France and Italy, in July,” said Booking CFO David Goulden on Wednesday at the company’s conference call.

Other companies reported supply chain disruptions as Covid cases accelerated in Asia and Europe. For example, rail operators Norfolk South said the Delta variant will affect its suppliers in Southeast Asia.

“We have a couple of factories that source parts from Southeast Asia and due to manufacturing issues there, they had to bring forward scheduled production shutdowns later this year,” said chief marketing officer Alan Shaw on the company’s conference call on July 28th. “And that has now had an impact on our production and our volumes.”

The Delta variant has also led some companies to issue more conservative projections, although most companies said they don’t expect any further lockdowns in the US.

Abiomed, a medical device maker, told analysts on its conference call Thursday that the lower end of its full-year revenue forecast sees “some persistent unevenness” from the variant, even though the company raised its outlook.

Beyond meatwhich is not part of the S&P 500 said that Restaurant operators are more conservative in their food orders due to the uncertainty caused by the delta variant and work-related challenges.

“For us, the main feature of the third quarter, and our forecast is simply a lack of visibility,” said CEO Ethan Brown on Thursday.

House tourism market has ‘room for 20’ firms

Sir Richard Branson may be trying to be the first in the billionaires race, but he believes the market has plenty of opportunities for businesses like. offers Virgo galactic, Jeff Bezos’ Blue origin, or Elon Musks SpaceX.

“There’s room for 20 space companies to get people there,” Branson said in an interview this week. “The more spaceships we can build, the more we can bring the price down and the more we can meet demand, and that will happen in the years to come.”

Virgin Galactic is in charge of predicted that “around 2 million people can experience” Space flights priced between $ 250,000 and $ 500,000.

The companies are Branson, Bezos and Musk every flying spaceship that can carry passengers, but in different ways. Blue Origin and Virgin Galactic are competing to take passengers to the edge of space on short flights – a sector known as suborbital tourism – while SpaceX drops private passengers on additional, multi-day flights – what is known as orbital tourism.

A SpaceX orbital flight costs tens of millions of dollars compared to the cost of Virgin Galactic of hundreds of thousands of dollars.

As Blue Origin’s New Shepard rocket launches vertically from the ground, Virgin Galactic’s SpaceShipTwo system is deployed in the air and returns to Earth like an airplane for a runway landing.

SpaceX launches its Crew Dragon spacecraft to orbit on its reusable Falcon 9 rocket has so far sent 10 astronauts on three missions to the International Space Station. In addition to government flights, Musk’s company plans to launch several private astronaut missions in the coming year – starting with the purely civil Inspiration4 mission that’s planned for September. SpaceX is also launching at least four private missions for Axiom Space, from the beginning of next year.

“There’s never been a time as exciting as now in space … it’s a moment when I pinch myself,” said Branson.

The growing space business

Astra VP of Manufacturing Bryson Gentile (left) and CEO Chris Kemp remove a protective cover from a missile fairing half.

Michael Sheetz | CNBC

Virgin Galactic was the first youngest generation space company to go public in 2019 through a SPAC or special acquisition company. This has developed into a trend over the past year, with a number of companies announcing upcoming deals and closing them public.

Rocket builder Astra and satellite broadband focused AST & Science each started trading with companies Missile laboratory, Spire Global, Black sky, and Momentum expected to follow in the coming months.

When asked if he thought the space market was growing too fast, Branson rejected the idea.

“I don’t think there’s overheating,” said Branson. “I think the space world is just beginning.”

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Former bookkeeper sentenced for embezzling cash from 2 separate WNY firms

Sarah Smith, 37, was sentenced to three to six years in state prison on Monday.

BUFFALO, NY – A former accountant from Tonawanda City was sentenced Monday morning to three to six years in state prison for two separate embezzlement cases.

According to the Erie County District Attorney’s Office, Sarah Smith, 37, admitted stealing around $ 136,000 while working as an accountant for a company in the city of Tonawanda.

According to prosecutors, an audit was conducted when the company saw an invoice entered twice. Smith was found to have made a series of payments to her personal bank account between August 21, 2018 and April 4, 2019.

Smith pleaded guilty to the highest sustained indictment back in March. She pleaded guilty to a grievous second degree theft, a Class C crime.

Prosecutors say Smith stole the money while awaiting conviction on a separate case.

Smith also pleaded guilty to stealing $ 87,019.84 while serving as a secretary and accountant for a Hamburg City company. The money was stolen between July 1, 2017 and August 31, 2018.

Smith pleaded guilty to a grievous second degree theft which is the highest standing charge.

It was also discovered that Smith used some of the stolen funds from the city of Tonawanda to repay the victims in Hamburg.

According to prosecutors, Smith will have to pay a total of $ 47,590 in reparation to both victims after serving their sentences.

Saudi Arabia Leisure & Amusement Market Report 2021-2030: Theme Park/Amusument Park, Competition, Live shows, Areas, Finish-Consumer, Firms –

DUBLIN – ()–The “Saudi Arabia Entertainment And Amusement Market Forecast By Theme Park / Amusement Park, Festival, Concerts, Regions, End User, Company” Report was added to to offer.

The entertainment and entertainment market in Saudi Arabia will reach $ 1,170.72 million by the end of 2030, up from $ 23.77 million in 2020.

The entertainment and entertainment industry will grow at an astonishing annual growth rate of 47.65% over the period 2020-2030.

The entertainment industry in Saudi Arabia is growing massively. Saudi Arabia has done its best to build a unique and world-class entertainment center that includes innovative rides, cultural or historical attractions and mega sporting events.

There will also be amusement park accommodations and merchandise, which are becoming increasingly popular with visitors of all ages. The entertainment sector presents a tremendous opportunity for companies operating in this field.

The Saudi government has played a pivotal role in supporting the growth of the entertainment sector by implementing the General Authority for Entertainment (GAE), established under the umbrella of the Public Investment Fund (PIF). The introduction of a new tourist visa is expected to continue driving this market.

Even Saudi Arabia’s real estate industry remains well positioned to benefit from the growth of the kingdom’s fledgling entertainment industry. The entertainment market in Saudi Arabia includes theme parks / amusement parks, festivals and concerts, and income from other entertainment sources.

Saudi Entertainment and Amusement (SEA) Exhibition, a relaunched trade show to accelerate industry growth in the lead up to the Kingdom’s VISION 2030. The SEA will be the UK’s first professional event dedicated to the entertainment and entertainment industry. There is massive demand for theme parks and amusement parks in Saudi Arabia. In the entertainment sector, Vision 2030 aims to increase household spending on entertainment from 2.9% to 6.0%. Saudi Arabia was the amusement and entertainment market

COVID-19 Impact on the UK’s Entertainment Industry

Due to the COVID-19 pandemic, industries in Saudi Arabia have suffered lockdowns, restrictions, etc. The entertainment sector has seen a huge drop in sales due to this pandemic. To contain the coronavirus, amusement and theme parks have been closed from time to time over the past two years. According to our post-pandemic study, i.e. from 2022, the Saudi Arabia amusement market will revive.

Entertainment business opportunities

In 2019, projects like Qiddiyah were an entertainment mega-project that started in Riyadh and hosts a six-flag theme park in sports arenas, water and snow sports facilities, car tracks, cultural activity venues, and vacation homes. In December 2017, the Saudi Kingdom’s decision to lift the cinema ban opened up a wealth of opportunities for international and regional entertainment companies.

The company analysis was treated from two points of view

  • overview

  • Recent developments and initiatives

Theme park / amusement park company

1. Al Hokair group

2. Al Othaim

3. Fakieh group

4. Jungle country

5. Saudi Aramco amusement park

Festivals and concert companies

1. E-PLUS (Event Plus)

2. Time entertainment

3. First entertainment company

4. Belle Gate

5. Squares of entertainment

Key topics covered:

1 Introduction

2. Research methodology

3. Summary

4. Market dynamics

4.1 Growth drivers

4.2 challenges

5. Entertainment market in Saudi Arabia

5.1 Theme park / amusement park

5.2 Festivals and Concerts

5.3 Other sources

6. Market share analysis

6.1 Saudi Arabia theme park / amusement park

6.1.1 Income

6.1.2 Region

6.1.3 End users

6.2 Saudi Arabia festivals and concerts

6.2.1 Region

6.2.2 End users

7. Theme park / amusement park market

7.1 Income

7.1.1 Indoor Family Entertainment Center (FEC) market (

7.1.2 Outdoor Amusement Park Market

7.2 Region

7.2.1 Riyadh

7.2.2 Jeddah

7.2.3 Dammam / Khobar

7.2.4 Mecca and Medina

7.2.5 Others (Jizan, Tabouk, Taif and Al Baha etc.)

7.3 End users

7.3.1 Family

7.3.2 Spouses

7.3.3 Alone

7.3.4 Children only

7.3.5 Other

8. Festivals and concert market

8.1 Region

8.1.1 Riyadh

8.1.2 Jeddah

8.1.3 Dammam / Khobar

8.1.4 Others (Jizan, Tabouk, Taif and Al Baha etc.)

8.2 End users

8.2.1 Family

8.2.2 Spouses

8.2.3 Alone

8.2.4 Children only

8.2.5 Other

9. Company analysis

9.1 Theme Park / Amusement Park Companies

9.2 Festivals and concert companies

For more information on this report, see

(AMC), Gamestop Company (NYSE:GME) – Josh Brown On Latest Surge In AMC Leisure, GameStop, ‘Good Outcomes’ For The Corporations

The phrase “meme stocks” is a bit disrespectful, Josh Brown, CEO of Ritholtz Wealth Management, said Friday in CNBC’s Fast Money Halftime Report.

GameStop Corp. (NYSE: GME) has 17,000 full or part-time employees and AMC Entertainment Holdings Inc. (NYSE: AMC) has over 1,000 theaters that attend over 250 million Americans over a year, Brown said.

These are not “meme” companies but real companies, he said, adding that AMC Entertainment can be considered a reopening game.

Although there is a lot of speculation about these stocks, there are also fans of the companies looking to invest in them, Brown told CNBC.

Being on Reddit and being a serious investor are not mutually exclusive, he said.

Brown said he wasn’t sure if speculation in the stocks “will outperform fundamentals”.

In the case of AMC Entertainment, CEO Adam Aron took the excitement and used the rise in its share price to improve the basic story of the company, Brown said.

“There are real results from this speculation that we all deride that are actually good results for these companies,” he told CNBC.

Investors in these stocks owe a little more respect than the financial media, he told CNBC.

See also: AMC & GME aren’t the only Reddit penny stocks available for purchase, according to top Wall Street analysts

AMC, GME price promotion: AMC Entertainment was trading at $ 36.72 and $ 1.91 over a 52-week period.

GameStop traded up to $ 483 and up to $ 3.77 over a 52 week period.

At the last check on Friday, AMC Entertainment fell 2.07% to $ 25.97 and GameStop fell 11.52% to $ 224.85.

Photo of jeff_golden from Flickr.

© 2021 Benzinga does not offer investment advice. All rights reserved.