Hollywood’s Irrelevant Awards
So, the Golden Globes happened this weekend … and nobody cared.
Granted, the award show happened in the middle of the U.S.-Iran escalation, so not many people were paying attention anyway.
But now that the situation with Iran is starting to die down a bit on Wall Street … nope. No one cares still.
OK, so maybe Netflix Inc. (Nasdaq: NFLX) cares a little bit. Putting one of those golden statues on your shelf is a nice confidence booster … and the possibility of advertising for a “Golden Globe award-winning series” is also a nice feather to put in your virtual cap.
Netflix, if you didn’t hear, had the most nominations at the Golden Globes — 34 in total. Those nominations included “Best Picture” for The Irishman, a film by Martin Scorsese starring Al Pacino and Robert De Niro. It was widely expected to win.
It was also snubbed. It received nada. Nothing. Zip. Zilch. The only award Netflix managed to come away with was “Best Actress” by Laura Dern in Marriage Story. That was it.
And so, we get what we have here today, which is Netflix shares falling roughly 1% (after investors finally looked past Iran, that is).
The Takeaway:
The Atlantic published an article yesterday with the headline “The Golden Globes Sends a Message With Its Snub of The Irishman.”
I agree completely with this headline. The Golden Globes awards did send a message: Award shows don’t mean anything anymore. They are, right now, completely irrelevant and out of touch with the way the world consumes media.
The film that won “Best Picture,” World War I epic 1917, was the only “traditional” film nominated. The other nominees included The Irishman, Marriage Story and The Two Popes, all of which were Netflix Originals.
But, Mr. Great Stuff, what does this mean for the Oscars?
The Oscars? Don’t talk about the Oscars. The Oscars?
Who cares?
Both Oscar and Golden Globe winners are decided by Hollywood industry insiders. The Golden Globes by the Hollywood Foreign Press — an organization that needs traditional films to win in order to remain relevant — and the Oscars by the Academy of Motion Picture Arts and Sciences (AMPAS) — another Hollywood organization that’s obsessed with remaining relevant in the streaming age.
In fact, AMPAS had to be threatened by the U.S. Department of Justice with antitrust violations to keep Netflix in the Oscar nomination process.
Make no mistake, dear readers, these are the death throes of a bygone era. Not only for award shows (why are these still a thing?), but also for the traditional Hollywood movie scene. Streaming companies like Netflix and Amazon.com Inc. (Nasdaq: AMZN) have already won. Hollywood just hasn’t accepted that yet.
Allow me a final takeaway here, if you will: One reason The Walt Disney Co. (NYSE: DIS) is among Great Stuff’s best picks for 2020 is the fact that the Mouse is adapting quickly to this new media paradigm. Disney has effectively married the old with the new, still producing “traditional” Hollywood films while leveraging that content in the new streaming media mega trend.
I mean, who needs an overhyped Oscar or Golden Globe when you have seven of the eight top-grossing films of the year? (And all of them are “coming soon” to Disney+!)
Good: Go Ahead, Bite the Big Apple
Don’t mind the maggots … uh huh. (Shooby.)
Apple Inc. (Nasdaq: AAPL) is struggling one day after Needham analyst Laura Martin issued a conflicted note to clients. Martin both downgraded AAPL stock (from strong buy to buy — edgy move) and lifted her price target to $350.
The reason for the downgrade? Apple rallied well above Martin’s price target for 2019 — which was so not her fault. Apparently, to make sure it doesn’t happen again, she lifted her price target 25% for 2020. Martin calls Apple a “pure play” on the mobility market and lauded the company’s “gatekeeper” status for mobile apps.
So, this is good for Apple, right?
Unironically, Deutsche Bank analyst Jeriel Ong also lifted his price target (from $235 to $280) but reiterated his hold rating on Apple. Ong doesn’t believe AAPL shares will outperform this year like they did in 2019.
We appear to be starting a new hedging trend for 2020. Lift your price target but cut or hold your rating. Fun times.
If you’re tired of wishy-washy analysts who can’t tell a strong buy from a hold — remember when Tesla Inc. (Nasdaq: TSLA) was set to hit $500 per share … or maybe $250? — there’s still hope left for you in this brave new 2020 world!
I know I recommend Paul ’s Profits Unlimited newsletter enough here … but if there’s anyone who you can trust to recommend stocks with his fullest conviction, it’s Paul. And right now, he’s got his eye on his biggest mega trend yet: a new renaissance called America 2.0.
Always on the tech frontier, Paul’s vision for America 2.0 starts with just one stock — and if you click here today, you’ll get to join Paul as he uncovers why this one stock is set to bring in the new age of American ingenuity.
Better: Pork — the Other White Nonmeat
And the award for best timing of a new product (but worst venue for revealing it) goes to: Impossible Foods!
The company just unveiled its latest nonmeat creation — pork! — and it did so at the Consumer Electronics Show (CES). Yes, you read that right. Impossible Foods just announced fake pork at CES.
If you’re a regular Great Stuff reader, you know that the world is dangerously low on pork. (Think of the bacon!) A severe African swine flu outbreak decimated China’s pig population, prompting the country to become a net importer of pork instead of an exporter. China is even draining Europe’s pork supplies to dangerously low levels.
So, Impossible Foods’ new meatless pork couldn’t have hit the market at a better time. The company even has a deal with Burger King for porkless-pork breakfast sandwiches. This truly is great stuff.
That said … CES? Really, Impossible Foods? I know you have a planned initial public offering (IPO) this year. I swear to all that is holy, if you even think about calling yourself a tech company during your IPO, I’ll … well, I’ll write mean, nasty things and gnash my teeth. So there.
(Seriously, don’t call yourself a tech company when you’re not. WeWork already sank that ship.)
Best: Elon Busts a Move
Tesla has swagger. CEO Elon Musk … meh, not so much.
Elon dad-danced his way across a stage in Shanghai, China, on Tuesday at a ceremony dedicated to the first Chinese-made Model 3s for the public.
But I thought you said Model 3s were already being delivered in China!
They were, but those were for employees only. These are for the public. Elon also introduced the Model Y crossover at the event, claiming that it would likely outsell all other Teslas in China.
Right now, Tesla has a significant advantage over all other electric vehicle (EV) makers in China. The company already makes more than 1,000 EVs a week, with plans to double that in the next year. Tesla’s EVs are also competitively priced with local competitors Nio Inc. (NYSE: NIO) and Xpeng Motors, and they’re well below prices for competing EVs from BMW and Daimler.
How’s Tesla doing this? Well, Tesla finagled an exemption from the 10% purchase tax in China and secured a government subsidy of $3,560 per vehicle.
The bottom line is that Tesla is winning in China, and that bodes well for the company.
Dear readers, I haven’t heard from many of you in quite a while. (For those of you who write in way more than normal, I know who you are … and the restraining orders are pending.)
I know. The holidays are busy. But that’s no reason you can’t drop your good friend Great Stuff a quick word or two … right? *sniff*
Write in to GreatStuffToday@banyanhill.com and let us know how you’re doing in the new year. And if you need some starter material, here you go:
- Will the Iran War Cycle become a thing?
- What market sector or stock are you watching in 2020?
- Did you make any big resolutions this year? (I’m going to try to stop vaping. There, I said it.)
- Do you watch the Oscars or the Golden Globes? (Honest question: Why?)
Now, you know the drill. You have about two days to drop me a line at GreatStuffToday@banyanhill.com to make this week’s edition of Reader Feedback.
Finally, stay tuned for another edition of Great Stuff: Picks! coming later this week. I’ve got my eye on an astounding tech stock that makes me wish I’d added it to my “best of 2020” picks. Stay tuned!
In the meantime, don’t forget to check out Great Stuff on social media. If you can’t get enough meme-y trade war goodness, follow me on Facebook, Twitter and Instagram.
Until next time, good trading!
Regards,
Joseph Hargett
Great Stuff Managing Editor, Banyan Hill Publishing