CBX Daily 8/26/2024

August 26, 2024

Today, the stock market is reaping the benefits of black leadership, but let’s start with how Victoria’s Secret is thriving under new mentorship…

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Cultural Intelligence Download

Victoria’s Secret Gets A New Sparkle With Savage & Fenty Leadership Revamp

CBX Vibe

Victoria’s Secret (VSCO +1.67%) garnered attention recently due to a major development. The stock price experienced a significant surge of 14% following the announcement of Hillary Super, the former CEO of Savage X Fenty, as the new leader. This transition in leadership marks a pivotal moment for Victoria’s Secret as it endeavors to navigate the evolving global lingerie market landscape while addressing recent challenges of low sales and dismal performance.

Newest Heavyweights In The Stock Market Are Black Investors

CBX Vibe:

Historical and systemic barriers might contribute to differences in access to traditional financial resources but blacks are changing this narrative by using the available resources for their development. A recent study found that over 50% of black investors showed a higher inclination to utilize social media groups or message boards for obtaining investment information, whereas only 25% of white investors exhibited a similar preference. These tools make researching, critically assessing, and buying shares easier. 

Is Remote Work Enhancing Diversity Recruiting?

CBX Vibe:

In the contemporary business world, diversity and inclusion have become more than just buzzwords. They are essential elements that contribute to the growth and success of an organization, as a recent Harvard study found that 6 of 10 jobs at large firms can be done remotely. With the advent of remote work, companies have a unique opportunity to enhance their diversity recruitment strategies. 

Fintechs Are Modernizing Banks & Bridging The Financial Inclusion Gap

CBX Vibe:

The fintech trajectory has redefined the financial services landscape, forcing traditional banks to rethink their strategies. Once considered outdated relics in a digital age, these banks are now turning to fintech solutions to remain relevant and competitive. With 73% of the world's banking interactions occurring through digital channels, it’s clear that adapting to this shift is not optional but essential.

Stock Market Panic As The Fear Index Soars To Pandemic Peaks

CBX Vibe:

The slowing U.S. economy has now affected a key market sector if the recent stock market changes are anything to go by. The CBOE Volatility Index (VIX), often referred to as the market's fear gauge, peaked to its highest level since pandemic times. Japan's Nikkei held the number one spot of the worst tumble with 12% which hasn't been seen in the last three and a half decades while U.S's Nasdaq followed closely with a 4.8% drop.

Vibes of the Week

”Act Like” you've been here before is what Fenty's CEO is doing at Victoria’s Secret. Cash Cobain opening up our week. Get into it in our CBX Vibes!