America's No. 1 financial conglomerate

Chapter 617 WShop is going public

Wednesday, December 26.

During winter weekdays, the nights in Queens, New York, are always divided into regular segments by various television channels.

Martha Cohen gently placed a pot of freshly brewed herbal tea on the coffee table in the living room, a new habit she had developed over the past month.

Since discovering this high-quality, cost-effective herbal tea on a flash sale platform, she has completely said goodbye to the instant coffee that had been with her for many years.

Very cheap, a large bag of twenty small bags costs only $9.9, which is less than $0.5 per bag on average.

A small bag of herbal tea can be brewed overnight and is much cheaper than coffee.

Paired with desserts, it's refreshing and helps cut through the richness, making it especially delicious.

Moreover, it comes in a variety of flavors, including jasmine, chrysanthemum, rose, and even lavender and lily. It was the first time she had ever heard that these flowers could be used to make tea.

I sat down on the soft leather sofa, and my gaze unconsciously fell on the television screen that was playing the news.

The anchor of CNBS News Channel is reporting the latest developments on the Russian debt default in a calm, almost icy tone, while scrolling text at the bottom of the screen continuously updates the default scale and market reaction data.

"The risk of default on Russian sovereign debt continues to escalate. International rating agency Moody's has downgraded its credit rating to junk status, and investor panic is spreading..." The anchor's voice came through the speakers, carrying a penetrating sense of oppression, making the atmosphere in the entire living room heavy.

"We'll have to tighten our belts a bit." Howard Cohen, the husband, leaned back on the other side of the sofa, his brow furrowed as he stared at the television screen. He muttered a curse under his breath during the news anchor's break, his voice tinged with anxiety.

Martha paused abruptly as she poured the tea, then slowly poured the warm tea into two white porcelain cups, releasing wisps of steam.

She put down the teapot, turned to look at Howard, her eyes full of confusion. "Why the sudden need to cut back? Didn't the tech stocks we bought do really well? Especially YueDong Games' stock, it's already quadrupled in value."

The two of them bought in when YueDong Games' stock price was at its lowest point. At that time, they felt that other Internet companies were rising so sharply, and YueDong Games' revenue was so good, so the stock price had a lot of room for growth.

However, the overwhelming negative reports at the time made the two of them afraid to buy too much, and the total amount was less than six thousand US dollars.

But that $6,000 has quadrupled in just a few days.

At today's market close, YueDong Games' stock price was conservatively $774.33. Based on this trend, there is almost no doubt that it will break through the $800 mark tomorrow.

Both of them work in the public service sector in New York City, which are typical civil service positions. Although their salaries are not top-tier, they have excellent benefits and relatively stable jobs, so they hardly have to worry about the risk of unemployment. This gives them an extra layer of protection during economic fluctuations.

"Didn't you see the news? The Russian debt default is just the beginning. Who knows if it will trigger a chain reaction and lead to a global economic crisis?" Howard's fingers tapped unconsciously on the sofa armrest, his eyes filled with worry.

As a seasoned stock market investor, he understood the fragility of the financial market better than his wife. A seemingly distant debt crisis could easily spread rapidly to every corner of the world through a complex chain of financial derivatives.

"Oh? Is it that serious?" Martha's eyes widened, and a look of panic appeared on her face.

She is a typical American middle-class woman who is more concerned with family matters and entertainment gossip in her daily life and knows nothing about financial products such as stocks and bonds.

She never interfered with Howard's stock trading decisions, only occasionally checking his account performance. She had absolutely no concept of market conditions or systemic risks.

But she was still aware of the term "economic crisis."

"Should we sell our stocks right away?" Martha asked anxiously.

Although she didn't understand investing, she knew the importance of securing profits. If an economic crisis really broke out and stocks became worthless, their savings would be gone.

"I plan to reduce my holdings tomorrow, withdraw some of my principal, and then observe the rest of the position," Howard said thoughtfully. "Cash is the foundation for dealing with crises. No matter how the market changes, having cash on hand means you don't need to panic."

Martha nodded, agreeing with her husband's decision.

She picked up the teacup in front of her, took a sip of the chrysanthemum tea, and the sweet taste relaxed her tense nerves a little.

After a moment of silence, as if suddenly remembering something, a slightly embarrassed smile appeared on her face, and she hesitated before saying, "Then... could I spend another two thousand dollars?"

Howard's gaze, which had been fixed on the television screen, instantly shifted to her, his eyes widening in surprise. "Two thousand dollars? What do you need so much money for?"

"I picked out a lot of things on the flash sale, and I haven't emptied my shopping cart yet."

Seeing that Howard was about to retort, she quickly added, "Besides, I bought you a suit and a tie. The dark blue suit you're wearing now is already two years old, and the cuffs are almost worn out. Haven't you been wanting to buy a new one?"

"I picked out two handmade items for you on a flash sale, one black and one navy blue, and they also came with five silk ties."

Upon hearing the words "suit," "tie," and "handmade," Howard's expression softened considerably, and he even showed a hint of guilt.

In the United States, a handmade bespoke suit costs at least seven or eight hundred dollars, and even more than a thousand dollars at a slightly well-known tailor shop.

If the fabric were of better quality, it would cost much more.

The most expensive bespoke suit he had ever seen cost over $30,000.

If you add five silk ties, almost all of the two thousand dollars went to him.

He knew that Martha had always liked using the flash sale platform. She had previously bought her coffee and daily necessities through this platform, and the prices were indeed much cheaper than in physical stores. Moreover, the delivery speed was very fast, which was very convenient.

But how much cheaper can it be?

His wife was only thinking of him, while he had just been blaming her for wasting money.

Howard's tone softened considerably. "Add another five hundred dollars, making it two thousand dollars. Choose some items you like."

Martha was overjoyed upon hearing this, and a bright smile instantly bloomed on her face. She couldn't wait to rush over and kiss Howard.

With an extra five hundred dollars, the other party paid for his suit and tie.

She couldn't wait to go to the study, turn on the computer, and spend the night selecting her favorite items.

However, after glancing at the time, she gave up on the idea.

"It's almost 8:30, and Shameless is about to start," Martha said, her eyes sparkling with anticipation.

Every Wednesday at 8:30 p.m., MGM Television Channel airs her favorite comedy, which is currently one of the most popular shows in the United States, loved by audiences for its bold plot and humorous dialogue.

Although Howard wasn't particularly interested in comedies, he would occasionally watch them with Martha, and they would always burst into laughter at the absurd plots.

"I know, just change the channel when it's time." Howard nodded, his gaze returning to the television screen.

Martha picked up her teacup, took another sip of her floral tea, and then picked up a ShopRite specialty pastry from the white porcelain dish.

She discovered this pastry three days ago at the supermarket; it's said to be an innovative product developed by ShopRite that combines Chinese pastry techniques.

It has the traditional soft crust of Western pastries, but instead of the usual cream and jam, it is filled with chopped almonds, walnuts and other nuts, as well as various dried fruits, resulting in a rich and sweet flavor that Americans love.

Taking a bite of her pastry, Martha suddenly remembered the news that ShopRite's parent company, WShop, was about to go public, so she asked, "I heard WShop is going public?"

Howard was taken aback, not expecting his wife to talk about stocks; this was the first time. He nodded and said, "That's right, it'll probably be around June next year when the stock market goes public."

"I think we can buy some."

Howard thought the other person was talking about subscribing to new shares, and shook his head with a laugh, "New IPO shares aren't something you can just buy whenever you want; it depends on luck. WShop is extremely popular right now, and many institutions are scrambling for quotas, making it very difficult for individual investors to get a share."

"It's no wonder it's so popular. Walmart is almost being squeezed out of business by ShopRite," Martha said casually, with a hint of self-righteousness in her tone.

"What did you say?" Howard sat bolt upright, his eyes wide with shock. "Walmart was driven out of business by ShopRite? How is that possible?"

As a global retail giant, Walmart has always held a deeply entrenched position in the US market. Howard found it hard to believe that a regional supermarket chain could pose such a significant threat to Walmart.

Seeing her husband's strong reaction, Martha said, somewhat puzzled, "It's the Walmart near our house."

"ShopRite recently opened four new stores in New York, one of which is right across from that Walmart, and business is booming."

"Their homemade pastries, fresh vegetables, and cooked salads are in high demand every day."

"If it weren't for the fact that Walmart's other everyday products were discounted, making them even cheaper, I doubt anyone would go there."

Howard fell into deep thought after listening to his wife's words.

He hadn't expected the company's offline expansion to be so rapid and popular, which gave him a new understanding of WShop's future development potential.

Should we wait until it goes public and then buy a large stake?

He couldn't believe how many times the investment would multiply if the other party became the next Walmart.

Martha glanced at the time as her husband was deep in thought, then picked up the remote control.

Her family are now loyal MGM subscribers; she enjoys watching MGM's TV shows and variety programs, while Howard watches movies and financial programs.

Just as Martha's finger was about to press the remote control, Howard suddenly said, "Wait, don't change the channel yet."

Martha stopped what she was doing, puzzled, and turned her gaze back to the television screen.

At this moment, the CNBS channel suddenly switched the camera, and the anchor's expression became unusually serious. He said in a hurried tone, "We have an urgent breaking news report! According to exclusive information just received by our station, a well-known hedge fund is facing huge losses and is on the verge of collapse due to its heavy investment in Russian government bonds with a leverage ratio of over 200 times."

"It is understood that the fund has achieved an annualized return of over 20% over the past four years and is a recognized star fund company on Wall Street. It has extensive business dealings with many top Wall Street institutions such as JPMorgan Chase, Goldman Sachs, and Merrill Lynch, and is involved in huge-scale financial derivatives transactions."

"Once the fund officially defaults, the financial risk exposure may exceed $1 trillion, triggering a chain reaction among Wall Street financial institutions, and may even cause the US economy to instantly return to the Great Depression era."

"This station will continue to monitor the situation and will also produce a special program later..."

Although no names were mentioned, the images of the headquarters building on the screen, showing a return of over 20% for four consecutive years, all pointed to one company: Long-Term Capital Management.

"OMG." Howard stood up abruptly, grabbing his hair with both hands. "The sky has fallen, this time it really has fallen."