The meteoric rise and stunning fall of Prime, Logan Paul's energy drink that was once resold for almost $1,500 a can: ‘A brand cannot live on hype alone' [Yahoo! Finance]
Airbnb, Inc. - Class A (ABNB)
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Source: Yahoo! Finance
The drink—originally an electrolyte-spiked coconut water that expanded its offerings to caffeine-loaded energy drink cans costing less than $2.50—was put on resale sites for 1,200 British pounds , or almost $1,500. It became so popular that last summer, UK retailers put security stickers on individual bottles of a new strawberry watermelon flavor to deter theft. But as with the frenetic energy levels after chugging a heavily caffeinated drink, what goes up must come down. Less than a year after the hoopla, Prime—founded by influencers and content creators Logan Paul and Olajide Olayinka Williams Olatunji, also known as KSI—had gone from $1.2 billion in projected 2023 sales to a product retailers have hardly been able to move. In 2024's first quarter, UK sales for Prime fell 50% year-over-year, raking in 12.8 million British pounds compared to 26.8 million in the quarter the year before, according to The Grocer , per data from retail and consumer platform NielsenIQ. X and Reddit
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ABNB
Earnings
- 5/8/24 - Beat
ABNB
Sec Filings
- 5/14/24 - Form 144
- 5/9/24 - Form 4
- 5/8/24 - Form 10-Q
- ABNB's page on the SEC website