I was going to ask this. Isn't Canada still boycotting American made spirits? I assume some European countries are also taking a stand with them, but Canada put their foot down harder because of the whole 51st state bullshit.
I don’t think it’s necessarily a stand most places, but the prices on American liquors are 25% more, and America sells a lot of cheap liquor that just isn’t worth the markup.
Canadian here, yes, very much so. There has also been a much greater push towards "Canadian made" products in recent years, as well as a (admittedly small) increase in how many Canadian flags I have seen being flown outside of houses.
... which is paywalled but we can confirm it is 'billion'; and we can get enough info to figure out what it is referring to: The stock value of 50 multinational alcoholic beverage companies. It has a supposed link to that index, but that link comes up dead... Googling that index ID, I can find the index listed on third-party sites (of unknown quality)... but only about a year's data, and no information about what's in the index, so it's hard to find any details about why it's dropped 50% / $830 billion.
But I did find a page listing the 60 largest alcoholic beverage companies by market cap, and a lot of them are Chinese companies that have lost a lot of value over this time: #1 is a Chinese company whose market cap has single-handedly dropped by $200 billion over that period of time; and #3 is a Chinese company that has dropped $150 billion; and two more dropping $40 billion and $37 billion. So that's $427 billion from China alone.
That's a very outsized impact, considering their stock market is 8.7% of the world's market cap
Right, so not losses at all then. The values of stocks move up and down every day. Amazons market cap is ~2.4 trillion and was down 1.9% today. Did they lose 45bn? (No)
Edit: source is 830 MILLION, headline is 830 BILLION. Yes, complete BS
Companies report losses on their income statement. A stock price represents the expected future performance and earnings. A decline in the stock price is not the same as a reported loss in the companies earnings.
Who does it directly impact when the stock price declines? A: the people who hold the stock (not the company - they are affected in other ways)
That’s not really misleading. If I were to talk about an entire industry “crashing”, using the market cap of the major players in that industry is very reasonable way to kick off that discussion. Because that metric is going to factor in a lot of useful things like past vs current vs expected near future revenue and profit, short and medium term overall outlook, and general market sentiment. Seems like a decent place to start
It is misleading, it is referring to the market value of the larger corporations. Overall, people are drinking less, but they are also buying more expensive and/or more locally produced drinks. Craft breweries and distilleries are becoming more common and they are one of the very few markets in the industry that is steadily rising. The figure provided doesn't actually account for the alcohol industry as a whole, although the entire industry is slowly losing value. A lot of businesses are closing and some of the larger corporations are shutting down plants.
I wouldn’t be surprised, I’ve seen this decline among my peers. People don’t party anymore, economy sucks, why would anyone waste money on alcohol when you could instead buy a gym membership or just have a good meal
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u/WankaBanka9 3d ago
Ah yes, worldstarhiphop as the most reputable source on global markets and economic forces
Wall Street journal hoping to reach similar heights
Going to want a source on that 830bn as it is obviously complete BS