Nike

The slow decay of sneaker culture

Illustration: Aïda Amer/Axios

StockX is an online sneaker marketplace that mimics the stock market, allowing sneaker-heads to track specific items and decide when to buy, sell or hold. It also authenticates every purchase, eliminating the scammers who plague other re-sellers like eBay.

What's happening: StockX has attracted people who have no interest in shoes — just the gains they can make from flipping them. The result is a "tectonic shift" in the makeup of the sneaker consumer.

The trade war didn't kill U.S. companies with Chinese exposure

Illustration of a briefcase with Chinese stars in it
Illustration: Sarah Grillo/Axios

U.S. companies with significant exposure to China have seen their stocks tumble since President Trump's opening salvo in the trade war. But it wasn't really China or the oft-invoked trade tensions that hurt those companies.

The big picture: Chipmakers like Skyworks, Qorvo, Qualcomm and Micron, along with Wynn Resorts, top the list of S&P 500 companies that make their biggest share of revenue in China, according to data compiled by Goldman Sachs. All of those stocks are deeply in the red since Trump took the first steps toward a full-blown trade war on Jan. 22.

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