Friday Fast Five - 7/21/2023
by Hodges Investment Team, on July 21, 2023
Five interesting things that Hodges Capital research analysts discovered this week...
#1 SOCIAL NETWORK: On its best day, July 7, Threads had more than 49 million daily active users on Android worldwide, according to Similar web estimates. By Friday, July 14, Threads was down to 23.6 million active users.
#2 SUPPLY CHAIN: US imports from China represent just 13.5% of all imports year to date, the lowest level since 2005, as companies are reducing their overdependence on China supply chains, according to Strategas.
#3 BACK-TO-SCHOOL: Spending per child is expected to decrease 10% this year to $597, according to Deloitte’s 16th annual back-to-school survey. The focus is replenishing necessities, such as school supplies, while holding off on nonessential purchases like tech and apparel.
#4 HOUSING: Just 14 of every 1,000 US homes have changed hands so far in 2023, marking the lowest house turnover rate in at least a decade, according to real estate firm RedFin. Overall, prospective home buyers face a market that is 28% smaller than in 2019.
#5 SHIP LENGTH: Royal Caribbean’s newest mega-ship, Icon of the Seas, is planned to make its maiden voyage in early 2024. The ship measures 1198 feet in length and is the longest cruise ship in the world by 10 feet.
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