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Ozempic Threatens Profits at Food and Beverage Makers Worldwide (www.bloomberg.com)
submitted 2 years ago by lettruthout@lemmy.world to c/aboringdystopia@lemmy.world
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So far, fear has driven investors to sell consumer-exposed stocks. A basket of such companies — including Oreo cookies maker Mondelez International Inc. and Modelo beer producer Constellation Brand Inc. — is down nearly 9% since early August with losses roughly double those of the S&P 500 Index, while makers of things like insulin pumps have wiped out close to a third of their value over the same stretch amid concerns that fewer people will need their products.

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[-] Raiderkev@lemmy.world 38 points 2 years ago

This has been in financial news for a few weeks. I personally don't think the weight loss drug has anything to do with it. What I think happened is these companies jacked the price up on their "food". People already know it's bad for you, and raising price just led people to make better, more health conscious decisions rather than pay $6 for a bag of chips. I know anecdotally that I have done exactly that, and when I do get chips or crackers nowadays, it's the store brand. Fuck Mondelez, Frito-Lay and coca cola. I'm not paying higher price for stuff I already know I shouldn't be eating.

[-] Something_Complex@lemmy.world 12 points 2 years ago

Yhe they just decided to blame the drug for their fuck up. Lol

[-] RampantParanoia2365@lemmy.world 3 points 2 years ago

Trader Joe's Ridge Cut potato chips are the best potato chips on planet earth.

this post was submitted on 21 Oct 2023
173 points (93.9% liked)

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