Tesla $TSLA’s rough start to 2024 continued as it hit the way bottom of the S&P 500. Novo Nordisk’s CEO said food company executives are so scared of weight loss drugs that they’re calling him for advice. Chanel finally has a new definition of a “fake purse.” And more.
These are some of the most popular Quartz stories from this week.
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Poor Tesla $TSLA. All those recalls, a CEO whose drug use is allegedly so bad his rich friends on the board reportedly want him to head to rehab, increased competition at home and abroad. And as Valentine’s Day approaches, it keeps getting broken up with again and again and again: Investors are ditching its stock en masse, sending it down 24% for the year — a year that’s barely in its second month.
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Tesla $TSLA sold only one car this January in South Korea, according to new data, as consumers there remain concerned with inflation and Elon Musk’s EV company continues to deal with a lack of chargers in the country.
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Lars Fruergaard Jorgensen, the CEO of Ozempic and Wegovy maker Novo Nordisk, says that chief executives at food companies are calling him for advice regarding the diabetes and weight loss drugs.
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Back in 2018, Chanel sued a luxury fashion reseller called What Goes Around Comes Around (WGACA). The French handbag-and-makeup giant, which will go to distant ends to protect its intellectual property and reputation, didn’t like the means that WGACA was using to drum up interest in its pre-owned wares—Chanel-associated hashtags, old display stands, stuff like that—and made a call to its lawyers. Nearly six years later, enough paperwork had been passed back and forth at the courthouse for the case to go in front of a jury. On Tuesday (Feb. 6), that jury ruled in Chanel’s favor.
