Food trucks in the U.S. have taken many forms, but have long been a popular option for dining. Now as the coronavirus pandemic alters the way we interact and engage with others, these kitchens on wheels may have a new function, especially on college campuses.
Rod Keller, CEO of the electric vehicle manufacturer AYRO is jumping at the opportunity to capitalize on the niche industry in a partnership with Gallery Carts. The new collaboration will combine AYRO's expertise in developing electric vehicles with Gallery's expertise in creating food delivery vehicles.
"Colleges are faced with, 'Well how do we provide food and beverage while at the same time, avoiding the mass crowds that you would typically see inside of a cafeteria?'" Keller told Cheddar.
So far, more than $500,000 has been poured into the collaboration as orders for the vehicles continue to amass. Keller said he's confident that as universities and other large campuses seek safer ways to feed their communities amid the pandemic, the need for their services will grow.
AYRO is also banking on buyers in higher education considering the long-term savings electric vehicles can provide. Keller said its electric vehicles save fleet operators at least 50 percent on fuel and energy costs.
"When people are moving cargo from one side of a university to another, or business campus, or hotel and resort, you don't need a full-sized truck with 400 miles of range running on gasoline to do that," Keller said.
Melissa Snover, Founder & CEO of Nourished, joins Cheddar Innovates to discuss her one-of-a-kind business that offers customizable, 3D printed vitamins that offer less hassle, cost, and waste than traditional vitamins.
Stocks closed higher Thursday as investors focused on big tech earnings, including a strong report from Facebook parent company Meta. The movement was largely led higher by the tech sector, and the Nasdaq saw gains after recent volatility. However, the index is still on pace for its worst month since March 2020. Stuart Kaiser, Head of Global Equity Derivatives Research at UBS, joins Closing Bell to discuss today's close, the Federal Reserve's plan to tackle inflation, and more.
Mental health platform Real recently raised $37 million in a Series B round led by Owl Ventures. Through its mobile app, Real says it provides mental health care at a lower cost than traditional therapy and aims to make mental wellness a part of everyone's daily routine. The company also announced that U.S. soccer star Megan Rapinoe will serve as an adviser to the company. Ariela Safira, Founder & CEO of Real, joins Cheddar News' Closing Bell to discuss.
It’s NFL draft night! A former defensive end for the Dolphins, Bears, and Texans Wale Ogunleye joined Cheddar News to talk about which rookies-to-be the NFL teams will be picking and also discuss the impact of the pandemic on the incoming players. "I do think having the ability to stay at school maybe a year or two longer, and it may be getting your adulthood going, it might help out a lot, but again, it's a different animal in that locker room," he said. Ogunleye, who also heads sports and entertainment at the financial firm UBS, also talked about providing financial literacy education and advice for young athletes.
Overstock.com CEO Jonathan Johnson joined Cheddar News to discuss the company's Q1 earnings miss as the internet retailer saw a 19 percent drop in sales since 2019. "Consumer sentiment got pretty soft. Despite that we were able to manage expenses, make money beat on the bottom line," he said regarding headwinds like inflation, gas prices, and the war in Ukraine. "But I think, look, e-commerce is here to stay. It's here to stay for the home space."
The all-women founders of the infused tequila brand 21Seeds Kat Hantas, Sarika Singh, and Nicole Emmanuel joined Cheddar News to talk about the recent acquisition of their company by the alcoholic beverage giant Diageo, gaining "world domination" in the tequila market, and enhancing Cinco de Mayo cocktails with their product. "If you want to lighten it up and you're looking for an RTD alternative, like one of those ready to drink alternatives, you can make that at home," said Hantas.
