but it struggled to meet demands more recently, sales have fallen as jim's reopen or let's go to james sweeney in new york. james, or what's going on with palatine, is this about the company itself, or is it about changing preferences that we're seeing as economies come out of the worse of the pandemic? willis and bulletin said, i had an all time low that's already known and sure it's easy to blame changing preferences of people. it's kind of an easy way out. the weather's nice. people want to talk and meet in person again. and let's be honest here, digital zoom. workouts are a secluded mirrored tv or a stationary bike in your garage has not matched and cannot match. the motivation of it in person grew class with an instructor, but pilots on also has the point, the finger at itself as much as it wags it bags its finger at the post cobra world . because at the start of the year, the valuation was $50000000000.00 and today it's $4000000000.00. that's a massive difference. and then a new c, e o came in and said wait, where's the cash flow, how back would it or we, we don't have this part. where's

or let's go to our financial, corresponded james sweeney in new york. james inflation slightly down, but this underlying dynamic seems unchanged. to put this figure into perspective for us already. here's the simple answer. inflation has not changed. yes. it's down from 8 and a half percent in march, but 8.3 percent still keeps it at its highest level in more than 40 years. this inflation rate is kind of like me handing you a beer in a cracked glass and, and saying, hey, this glass is a lot better than that. shattered one over there because inflation did slightly ease in april, but that it is enough to make a huge debt. it did not. i remember this data was for april, it's may right now. and if i showed you current poultry, fish, meat and gasoline prices across the u. s. that a on may 11th. i think anyone with simple math skills will look at the report and say, this is not true. which is her biden's say that easing bottle next, securing supply chains, that these are the answers. what does that mean by this? well, there's 2 answers to this. one is, does he

or let's go to our financial correspondent, james sweeney in new york for more. james revene was a massive i. p. o. last year, one of the biggest years in fact, and now it's, it's suffering this course right now. what's going on? well, if you're asking what happened, it's more like what didn't happen because after going public out during it's valuation of $90000000000.00 less november shares. they come crashing down to earth, them more than 77 percent. so for this year, and it's due to a combination of factors. look, here's you take away points, ribbons gains. they've come from speculation, speculative growth. and then in early march, the truth finally came out. the company reported a near $5000000000.00 loss in 2021 and $1.00 that supply chain issues with lower production this year. and following that release today, martha companies, i feel like a period coming to an end, and it came from early investors a chance to get out while they still could write early investors like ford, pulling out 8000000 shares. cheapie morgan looking to sell about 1315000000 shares on

let's go over to james sweeney in new york for more. am james, this is safe haven is not really such a safe haven anymore in this sort of niche of the cryptographic market. what, what's going on? well, as we all know, the crypto markets have been getting hammered as of late. but this tether situation is a bigger beat. the monks itself because teller had just one job and that's the maintain a stable value at one us dollar per coin. so the investors could supposedly have a stable place to put their cash while they trade, but that stable place has become very turbulent and it looks like the foundations are cracking because tell the relies again on the dollar to maintain its value. and investors can change one unit of heather for $1.00 of the price of tether, slips below a dollar investors and then push to buy to their so they can exchange it for a dollar and make a small profit and vice versa. the small profits they can add up in the fight, the fancy financial work for that is arbitrage. so this back and forth arbitrage is supposed to push

and we go over now to james sweeney in new york. james is a big story all day. how should we look at this delay by mike? what's going on here? you know what this is? and it took me a while to compare this. if you've ever played a sports video game and you need to make sure that you have the right starting line up, what do you do? yes, was you double check to make sure everything adds up and then you begin the game. and that's what you learn most is really doing here. he's just making sure all the pieces of the puzzle are in place. before he takes over, eula struck a deal to get twitter in late april read. and in that deal, one of the stances he promoted was that twitter needs more verified users, no more bus. and that was great news for some bad news for others. some on the right had all spike and twitter followers. some of the left, including a lot of good politicians, were screaming that they lost thousands of followers overnight. and after all of this noise, following about about twitter accounts, sort of then announces that it estimates speak. fam accounts i