🚙 Jeep trouble

…and Helene hits chip manufacturing Scott Olson/Getty Images Jeepers creepers   Presented by Hey Snackers, Taco Bell was crowned as the [fastest drive-thru]( for the fourth year in a row. But that Crunchwrap Supreme speed comes with a caveat: it also had the highest percentage of wrong orders. Stocks barely rose yesterday as turmoil in the Middle East weighed on investors. Private companies added more jobs than expected last month, curbing bets on a big rate cut. 🎙️Now hear this: We just dropped the first episode of our new weekly podcast, “Snacks Mix.” Tune in on [Spotify]( or [Apple Podcasts]( to get fresh takes on the port strike, China’s big rally, and more market-moving news.   CHECK-ENGINE [Jeep parent Stellantis stalls out in the US as carmakers struggle to get off the lot]( In Jeep doo-doo… Dodge maker Stellantis needs a tow. The company — which also owns Jeep, Chrysler, and Ram, among others — sold 20% [fewer]( cars in the US than last year. That’s expected to be the worst third-quarter result among major automakers and continues a yearslong sales slump for Stellantis. Its US deliveries were already down 16% in the first half of the year, and last year it was the only major American car company to report falling sales. - Bended fenders: Chrysler and Dodge fared the worst, with each experiencing a 40%+ sales drop-off last quarter. Ram trucks slid 19% and Jeep 6%. - Check engine: This week Stellantis cut its annual guidance and recalled nearly 200K hybrid Jeeps over fire risks. Its shares are down 40% this year, and its US market share has fallen to 8% from 10 a year ago. - Lot pileup: Stellantis dealers have blamed the company for swollen inventories. Meantime, the UAW is pushing to authorize another strike against the automaker, accusing it of breaking contract promises. Car-industry wrap… Analysts expect that US new-vehicle sales fell about 2% last quarter, as consumers balked at high prices. GM’s US sales dipped 2%, while Toyota’s fell 6%. Ford’s sales ticked up, barely. But EVs were a bright spot for carmakers including GM and Ford, and yesterday Tesla [reported]( its first growth in deliveries since last year. THE TAKEAWAY Sticker shock is sticking… The average new ride in the US was $44K last month, down 3% year over year. But that’s still much higher than before the pandemic (at the end of 2019, new vehicles cost about $34K). Car costs have driven up demand for leases, which made up a quarter of new sales in Q3. Used-car sales are up, too, as folks steer clear of shiny new whips. [Read this online](   Presented by EnergyX [Last Chance to Invest in the Lithium Boom]( Did you know it takes 10,000 iPhone batteries worth of Lithium to make 1 EV? With over 350 million EVs projected to be sold globally by 2030, demand for Li is projected to soar and [current extraction methods won’t be able to meet the demand](. So when [EnergyX revealed that their technology could extract 300% more lithium than traditional methods](, investors everywhere took note. They’ve secured $100M in strategic investment from GM, POSCO, and others. Most recently, they announced a new US lithium plant to go along with the 107,000-acre Chilean mining asset they acquired in 2023. EnergyX is set to unlock a massive lithium supply. This is your chance to invest on the ground floor of the lithium boom. [Don’t wait, though – EnergyX’s raise ends tonight at midnight PST](.1 Presented by EnergyX [Last Chance to Invest in the Lithium Boom]( Did you know it takes 10,000 iPhone batteries worth of Lithium to make 1 EV? With over 350 million EVs projected to be sold globally by 2030, demand for Li is projected to soar and [current extraction methods won’t be able to meet the demand](. So when [EnergyX revealed that their technology could extract 300% more lithium than traditional methods](, investors everywhere took note. They’ve secured $100M in strategic investment from GM, POSCO, and others. Most recently, they announced a new US lithium plant to go along with the 107,000-acre Chilean mining asset they acquired in 2023. EnergyX is set to unlock a massive lithium supply. This is your chance to invest on the ground floor of the lithium boom. [Don’t wait, though – EnergyX’s raise ends tonight at midnight PST](.1   STORMY [Helene hit the town that mines most of the world’s high-purity quartz, threatening the chip industry’s supply]( Sifting through the wreckage… Hurricane Helene made landfall in Florida last Thursday, and the storm’s destruction is only starting to come into focus. As of yesterday there were 183 confirmed deaths, and estimates put economic losses at up to $110B. And while Helene’s damage has been widespread, severe flooding in the small town of Spruce Pine, North Carolina, has affected one [unexpected industry](: semiconductors. - Not just clocks: High-purity quartz is key to the production of chips used in a variety of tech, including AI, smartphones, and cars. - Small town, big supplier: 80 to 90% of the world’s supply of high-purity quartz comes from Spruce Pine. Major miner problem… Sibelco and the Quartz Corp., high-purity-quartz mine operators in Spruce Pine, said they shut down ahead of Helene and were unsure when they’d reopen. That could create a supply problem for the tech industry, which has been racing to scoop up chips. In July alone, global semiconductor industry sales hit $51.3B — up nearly 19% on the year. Before Helene, the quartz-mining business was booming along with demand for [AI chips](. Last year Sibelco announced a $200M investment to double its mining capacity in the town. THE TAKEAWAY Chokepoints can become breaking points… With the semiconductor industry relying on Spruce Pine’s quartz mines, the shutdown could affect the entire tech industry. It’s happened before: in 2008, a fire at a Spruce Pine quartz refinery disrupted the global supply. At least one expert said consumers could see the price of electronics pop after Helene. [Read this online](   REDACTED Uncharted: America’s most visited news website is trialing a paywall for some users starting this month. Which publisher is it? ([Answer here](.)   ON SHERWOOD [The SEC’s state-of-the-art market monitoring system is fully operational after 14 years — just in time for legal challenges to kill it.]( Regulators could potentially lose the CAT, their main tool for monitoring markets. [Read more.](   Presented by Sanofi Make weekdays extraordinary. Your next big break(through)... Working at Sanofi means being a champion of change. Bring your curiosity, and Sanofi will bring you [career-defining opportunities](: AI-matched mentorship, short-term “gigs” in new company functions, and experiences that take your work across the globe. At Sanofi, you build breakthroughs — in your own career and beyond. [See where a role at Sanofi could take you](. Presented by Sanofi Make weekdays extraordinary. Your next big break(through)... Working at Sanofi means being a champion of change. Bring your curiosity, and Sanofi will bring you [career-defining opportunities](: AI-matched mentorship, short-term “gigs” in new company functions, and experiences that take your work across the globe. At Sanofi, you build breakthroughs — in your own career and beyond. [See where a role at Sanofi could take you](.   What else we're Snackin' - Apple is reportedly [whipping up]( a budget phone (an updated version of the iPhone SE) as it tries to lift sagging sales. - Cal-Maine, America’s largest egg producer, had a sunny-side up quarter: sales [surged]( 70% as the avian flu led to sizzling egg prices. - As shipments grind to a halt at major US ports, the Biden admin [pressured]( port employers to make a better offer for their 45K striking dock workers. - OpenAI [closed]( a $6.6B funding round from investors including Microsoft and Nvidia, which could value the ChatGPT maker at $157B. - Prediction market Kalshi was cleared to resume listing bets on congressional elections, [opening the door]( for legal presidential-election markets.   Snack Fact of the Day [500 Starbucks stores — or 3% of its US locations — have unionized](   Thursday - Weekly jobless claims - Durable-goods orders - Earnings expected from Constellation Brands Authors of this Snacks own shares of Apple, GM, Microsoft, Nvidia, Tesla, and Yum Brands Advertiser's disclosures: 1 Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. This is a paid advertisement for EnergyX’s Regulation A+ Offering. Please read the offering circular and [related risks]( at [invest.energyx.com](. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.   Was this email forwarded to you? Love what you’re reading? Don’t miss out on future stories — [subscribe to Snacks]( and get your daily dose of financial news straight to your inbox.   [Instagram]( [Twitter]( [Sherwood Logo]( Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... [See more]( [Sherwood Terms and Conditions]( [Our Editorial Standards]( [Contact Us](mailto:hello@snacks.robinhood.com) [Advertise With Us](mailto:advertising@sherwoodmedia.com) [Unsubscribe]( [Privacy Policy](