Eq: Total Market

A few days ago COVID Loan Tracker launched an EIDL advance tracking survey. After 96 hours, we are alarmed at the results.

Our data is showing that the SBA is not paying EIDL advances on a first come first serve basis, despite that being the bedrock of the entire program. Application numbers are sequential, and are supposed to be paid in order of application.

Please submit your EIDL Details Here to Help Keep the SBA Accountable
 
However, our data is showing that these are not being paid in order, with some applications made days ahead of others not being paid, while later applications are. We now have thousands of data points on this from the survey, but we can further prove this because of when we received (and did not receive) our own EIDL advances. For example, our co-founder Duncan received his EIDL advance on Monday April 27th, with application number 3301458241. However, close friends of the company who applied earlier (and have lower application numbers) have NOT been paid. So not only is crowdsourced data proving this, but there is first party proof.
 
If you have any relevant details (especially in relation to your application timeline versus Duncan’s), please fill out the EIDL survey or email us at This email address is being protected from spambots. You need JavaScript enabled to view it.

(New York)

The stock market is a minefield right now. A lot of stocks have taken big hits. Some have rallied too much, others still have further to fall. There will be further unpredicted consequences of the COVID economy, so the future is not clear for many stocks. So, where to put money? Here is a suggestion—a down and out, beaten up, but promising fast food stock. Take a look at Restaurant Brands (ticker: QSR), which owns Popeyes, Tim Horton, and Burger King. Shares are down 28% since the end of February, and it has stable earnings and plenty of cash on hand to handle expenses. Popeyes is seeing a return to sales growth while Burger King has suspended its COVID-related fall and is starting to move back to normalcy.


FINSUM: We like this stock because fast food chains are likely to hold up well during the recession. The food is cheap and the restaurants are almost tailor made for COVID (i.e. they already have drive-through).

(New York)

For the last several weeks, the prospect of a meat shortage has been swirling around the media and markets. However, it had not really become a tangible reality—until now. Wendy’s is apparently running very low on meat, with around 20% of their stores out of beef. Costco is running out of meat too, and is limiting purchases. Meatpacking companies have been suffering too, as their volumes are down.


FINSUM: Trump has already invoked the Defense Production Act to ensure the meat supply, but it is still facing shortages. Something to keep an eye on for restaurants and grocery stores.

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