Tesla stock is the worst, Ozempic scares food CEOs, Chanel's fake purse: This week's most popular stories
Tesla’s rough start to 2024 continued as it hit the way bottom of the S&P 500. Novo Nordisk’s CEO said food company executives are so scared of weight loss drugs that they’re calling him for advice. Chanel finally has a new definition of a “fake purse.” And more.
These are some of the most popular Quartz stories from this week.
Tesla is the worst-performing stock in the S&P 500 this year
Poor Tesla. All those recalls, a CEO whose drug use is allegedly so bad his rich friends on the board reportedly want him to head to rehab, increased competition at home and abroad. And as Valentine’s Day approaches, it keeps getting broken up with again and again and again: Investors are ditching its stock en masse, sending it down 24% for the year — a year that’s barely in its second month.
Tesla sold only 1 car in South Korea last month
Tesla sold only one car this January in South Korea, according to new data, as consumers there remain concerned with inflation and Elon Musk’s EV company continues to deal with a lack of chargers in the country.
Weight loss drugs like Ozempic have food CEOs so ‘scared’ they’re calling Novo Nordisk for advice
Lars Fruergaard Jorgensen, the CEO of Ozempic and Wegovy maker Novo Nordisk, says that chief executives at food companies are calling him for advice regarding the diabetes and weight loss drugs.
Chanel has a new definition of “fake purse” that was nearly six years in the making
Back in 2018, Chanel sued a luxury fashion reseller called What Goes Around Comes Around (WGACA). The French handbag-and-makeup giant, which will go to distant ends to protect its intellectual property and reputation, didn’t like the means that WGACA was using to drum up interest in its pre-owned wares—Chanel-associated hashtags, old display stands, stuff like that—and made a call to its lawyers. Nearly six years later, enough paperwork had been passed back and forth at the courthouse for the case to go in front of a jury. On Tuesday (Feb. 6), that jury ruled in Chanel’s favor.
The US-China competition “is about to get very real,” Palantir CEO says
Palantir has long positioned itself as a leader in technologies that will define the modern battlefield. The contours of that battlefield are now coming more clearly into view, says Alexander Karp, CEO of the data analytics company.
Layoffs are plaguing the healthcare industry, too
Tech and media layoffs have made big splashes across news headlines. But another industry’s workforce has faced troubles, too: healthcare.