Bob Iger is back. He’s the steady hand that Disney needs as CEO to get it back on track

Bob Iger, CEO, The Walt Disney Company

Scott Mlyn | CNBC

Cathie Wood’s Innovation ETF surges 13%, on track for its best day ever

Catherine Wood, chief executive officer of ARK Investment Management LLC, participates in a panel discussion during the Milken Institute Global Conference in Beverly Hills, California, May 2, 2022.

Lauren Justice | Bloomberg | Getty Images

Cathie Wood’s flagship ARK Innovation ETF staged a dramatic relief rally Thursday on the back of an easing inflation reading. The fund is on track to post its best day ever.

The exchange-traded fund, with $6.9 billion assets under management, jumped more than 13% to hit an intraday high of $37.02, on pace to post its biggest daily pop since its inception in 2014.

ARKK’s biggest holding Zoom Video popped about 12%, while Tesla jumped nearly 7%. Roku advanced more than 11%. Teladoc climbed 12%. Unity, Invitae and Pacific Biosciences all traded up over 20% so far Thursday.

As of midday, more than 28 million shares of ARKK have changed hands, already surpassing its 30-day average volume of about 25 million.

ARK Innovation ETF (ARKK) top holdings performance Thursday

Wood’s disruptive darlings have been hurt particularly hard this year as rising rates made growth names unappealing. These stocks could see a big rebound if easing price pressures lead the Federal Reserve to dial back its aggressive tightening efforts.

The innovation investor has been calling deflation for some time, betting the high prices were caused by temporary Covid-related supply issue. Wood said recently that her conviction in deflation has increased, and Thursday’s report could signal that the trend has started to go in her direction.

She told investors in a webinar Tuesday that inflation will be influenced by companies slashing prices due to inventory excess heading into the holiday season.

ARKK, managed solely by Wood, is still down 61% this year. The innovation investor just doubled down on a slew of her favorite stocks this week, unfazed by the turmoil in many of these names.

Wood snapped up shares of six companies Wednesday, including adding to some of her largest holdings Zoom Video and Tesla. The popular investor has been adding to her Coinbase stake for two straight days, even amid the potential collapse of popular crypto exchange FTX.

Tesla, ARKK’s second biggest holding, is still down more than 16% in November alone as Elon Musk rushed to sell billions of dollars worth of stock to help fund his acquisition of Twitter.

Lucid EV production on track to meet 2022 guidance

Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona.

Lucid

Electric luxury vehicle maker Lucid Group confirmed on Wednesday that it remains on track to produce between 6,000 and 7,000 vehicles in 2022, in line with the more conservative guidance it provided to investors in August.

Lucid’s shares opened over 5% higher following the news.

Lucid said in a statement that it produced 2,282 vehicles at its Arizona factory in the third quarter. It delivered 1,398 vehicles to customers during the same period.  

Lucid has twice cut its production guidance for 2022. The California-based startup had originally expected to build 20,000 of its Air electric luxury sedans this year. It cut that target to between 12,000 and 14,000 vehicles in February, saying at the time that global supply chain issues had hampered its ability to obtain basics like glass and carpet.

Lucid cut its guidance again in August, to between 6,000 and 7,000 vehicles for the year, citing logistics challenges as well as ongoing supply chain issues. At that time, Lucid said it had about 37,000 reservations for the Air.  

Lucid will report its full third-quarter results after the U.S. markets close on Tuesday, November 8.

Climate Club to help employees track emissions; Facebook a customer

Adam Braun and Philip Charm, co-founders of Climate Club

Photographer is Bonnie Rae Mills, photo courtesy Adam Braun

Adam Braun’s first two entrepreneurial ventures had to do with education.

First, he launched Pencils of Promise in 2008, a nonprofit organization that has started more than 500 schools in Ghana, Guatemala, Laos and Nicaragua. In 2017, he launched the education startup MissionU, which WeWork acquired the following year.

Braun’s next venture, Climate Club, is focused on helping large companies engage their employees in reaching their climate goals. The company, which is emerging from stealth on Wednesday, is opening with Facebook parent company Meta and management consulting company Bain among its first pilot customers.

Around a year ago, Braun and his college roommate at Brown, Philip Charm, got together with their 4-year-old children.

“As we were watching our young children play, and really just exploring the world around them, our conversation was drifting into what their future is going to look like, and the life that we want for them ahead,” Braun told CNBC.

That conversation included realizing that by the time their children are as old as Braun and Charm are now, it would be just past 2050.

“Their futures will really be determined by the decisions we make starting now,” he said. “That became this really profound call to action for us, as parents to young children, but also, I would say, as caring citizens, that we had to do something about this.”

At the same time, Braun and Charm were watching large companies across the board make bold decarbonization commitments that employees were mostly ignoring or not involved with. Solving that disconnect is the task of Climate Club.

“The simplest distillation of it is that we embed sustainability into the employee experience. And we do so both with alignment towards net zero, as well as true business goals,” Braun told CNBC.

As part of the company’s launch, Climate Club is also announcing it has raised $6.5 million in seed funding led by XYZ Venture Capital and Vestigo Ventures.

“We believe that Climate Club will be one of the most important tools in the Chief Sustainability Officer’s tech stack,” Chauncey Hamilton, a partner at XYZ, told CNBC. “Corporations have set ambitious goals for hitting Net Zero and keep pushing the timeline up earlier and earlier to meet their goals with lots of companies targeting 2030 or sooner. With increased pressure and regulations ahead, we see it as imperative to create a culture of reducing carbon emissions throughout an enterprise.”

Vestigo Ventures was interested in Climate Club to increase employee satisfaction, helping with recruiting and retention.

“The data is clear that employees want to be at companies that make the world better — and expect more from their employers,” Mark Casady, the founder and general partner at Vestigo Ventures, told CNBC.

Indeed, almost seven in 10 workers care about a company’s environmental track record when considering whether to take a job, according to a Gallup poll conducted in March of 2021. Twenty-four percent of survey respondents said a company’s environmental track record is a major factor in their decision, and 45 percent said it would be a minor factor.

“Climate Club is hitting the market at exactly the right time to enable employers and employees to work together on these goals,” Casady told CNBC. “Climate Club’s combination of software and engagement initiatives solves the challenge of collecting accurate Scope 3 emissions data while enabling reduced costs, measurable carbon reduction, and new pathways to growth.”

Addressing Scope 3 emissions

Climate Club aims to help employees learn what they can and should be doing within the company to reduce carbon emissions and then providing specific recommendations for how they can make changes.

The startup will provide each employee with data tracking their contributions to greenhouse gas emissions. Then, it will give each employee areas to improve, activities they ought to focus on and best practices to follow.

Climate Club focuses on all areas of emissions that employees can influence, but in practice that often turns out to be Scope 3 emissions — those are emissions that are generated throughout a company’s value chain, rather than emitted directly (Scope 1) or through the purchase of electricity or other energy sources used to run the business (Scope 2).

How Google is reducing the carbon footprint of its massive data centers

Scope 3 emissions are hard to track — and also are often the largest category of emissions, according to the EPA. They include emissions that come from assets and activities that are not contained within the boundary of a company but that come from a company’s value chain. That could include emissions associated with purchased goods and services, transportation of goods and services, business travel of employees, commuting of employees, the use of sold products, end-of-life treatments for sold products, and the list goes on.

For example, Climate Club will track emissions associated with things such as business travel, including air travel, ground transportation and hotels. It will help make recommendations for employees’ commutes, and the amount of energy used in remote and hybrid work. It will also track emissions associated with purchased goods and services that employees use, including and starting with food that companies purchase for employees and the associated waste. And Climate Club is working on building solutions tailored for specific job categories, such as engineering, finance, procurement, marketing, human resources and event management.

Getting help wrangling scope 3 emissions is one reason Meta is hiring Climate Club.

“We are launching a pilot of the platform with employees,” Melanie Roe, spokesperson for Meta, told CNBC. “Through our partnership with Climate Club, we will empower Meta employees to understand and participate in the work that needs to be done to reduce scope 3 emissions across our business.”

So too for Bain, which is starting with a pilot in one key U.S. office and plans to add other locations in 2023.

“Bain & Company has long been a leader on sustainability issues, and we are committed to aggressive goals to reduce the impact we have on climate change. The only way we meet these goals is by engaging our teams at the front line, and by providing the tools they need to make good decisions in how they deliver exceptional results for our clients,” Sam Israelit, the chief sustainability officer at Bain, told CNBC. Bain connected with Braun through the company’s alumni network.

In addition to tracking employee-related emissions, Climate Club also collects and organizes ideas that employees have to drive sustainability within the company. That’s already happening at Bain, Braun told CNBC.

“Great examples include reduced emissions travel and commute solutions, employee waste management (food waste & single use plastics), plant-forward meal stipends, work from home energy efficiency solutions, and more,” Braun said.

Degrowth: Is it time to live better with less?

How Mark Zuckerberg can get Facebook ‘back on track’

Mark Zuckerberg’s leadership is putting Meta on track to fail, a Harvard management expert says — but it’s not a lost cause. All Zuckerberg has to do is take a long vacation.

That’s the suggestion for Zuckerberg from Bill George, a senior fellow at Harvard Business School and former CEO of medical technology company Medtronic. George’s most important advice for the Meta co-founder: Take some time away from your work and rest your brain. 

“You need to pull back, take a sabbatical to ground yourself in your purpose and your values,” he tells CNBC Make It. “It can help you and the company get back on track.” 

George has spent the last two decades studying leadership failures, compiling his findings in a new book called “True North: Leading Authentically in Today’s Workplace, Emerging Leader Edition.” He cites Zuckerberg as just one example of a boss who has lost sight of their deeply held beliefs, values and purpose as a leader. Instead, Zuckerberg has become a leader who prioritizes profits, doesn’t accept advice and blames others, according to George. 

George has argued that those failures of leadership have certainly not helped Meta right the ship at a time when the company has lost more than 60% of its market value since last year. Various factors have contributed to Meta’s struggles, including increased competition from rivals like TikTok and an Apple iOS privacy update that’s made it more difficult for Meta to target ads to its users, as well as Zuckerberg’s heavy investment in the burgeoning metaverse space that he admits could lose “significant” amounts of money over the next several years.

George says he still has “a lot of empathy” for Zuckerberg, acknowledging that the “brilliant” CEO has been under an enormous amount of pressure ever since he co-founded Facebook in 2004. 

Zuckerberg has constantly worked to grow his company into a tech behemoth that now boasts a $381.86 billion market cap, as of Thursday morning. He helped build the modern-day social media industry that reaches billions of people each day — and now he’s made a huge bet on the metaverse in the hope that he can repeat his past success by building a new online economy. 

Of course, Zuckerberg’s past success is exactly why he still has plenty of believers, in spite of recent struggles. In February, CNBC’s Jim Cramer said he has “total faith in Mark Zuckerberg” when it comes to Meta’s bet on the metaverse.

George says Zuckerberg’s prior success likely came with its fair share of stress, which is why it’s a “good, healthy idea” for the CEO to take time off now through a sabbatical. 

He recommends Zuckerberg spend a few months away from the company entirely, which means not checking emails, managing team members from afar or doing any other work-related tasks. Zuckerberg should spend that time deeply reflecting about the purpose and future of his company, and what values he needs to ground himself in to improve as a leader, George adds. 

Why a sabbatical may be unlikely for Zuckerberg

But the odds of Zuckerberg actually following George’s advice may be unlikely. A long leave of absence could potentially further drag down Meta’s stock price in the short-term: It could create uncertainty about who would run the company in his absence, and a temporary leadership shakeup in the company could alarm analysts and investors.

Take what happened to Jack Dorsey, the co-founder and former CEO of Twitter, after he announced plans to move to Africa for six months in 2019. Before his plans fell through, Dorsey faced sharp criticism from some analysts who said the move would be “reckless” because “proximity matters” for leading a company.

The closest to a sabbatical that Zuckerberg may get is paternity leave: On Wednesday, he and his wife Priscilla Chan announced they’re expecting their third child. Zuckerberg took paternity leave in 2017 after his second child was born in the summer, breaking it up into two, one-month blocks: immediately after the birth and again in December.

Zuckerberg and Meta did not immediately respond to CNBC Make It’s request for comment. 

Realistic or not, other experts say George’s advice is spot on. DJ DiDonna, who studies sabbaticals and is the founder of research and advocacy nonprofit The Sabbatical Project, even recommends that Zuckerberg travel somewhere far from Meta’s Menlo Park, California headquarters for a sabbatical because “geographic separation” can help him fully disconnect from work. DiDonna adds that engaging in physical or creative activities during that time, whether that’s playing a sport or taking up painting, could help Zuckerberg reignite a genuine sense of passion and energy that he can then apply to his leadership at Meta. 

DiDonna points to his own research, including interviews with dozens of sabbatical-takers over the course of several years, that shows sabbaticals are a “transformational experience” that can help with personal development. In some cases, people can uncover a more authentic version of themselves and see other benefits: A restored sense of enthusiasm for work, more confidence in their voice and a better work-life balance.

“[Zuckerberg’s] literally been thinking about his company since college. He probably has no idea who he is or what his personality has become after all these years,” DiDonna tells CNBC Make It. “Sabbaticals are a way for people like him to disconnect from their routine life, to heal and restore themselves.”

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Bank CEO on why we can and should track gun purchases on cards

Whether you’re getting your car repaired, or buying dinner, nearly every business that takes a credit card has a unique merchant code that reports your purchase — except when you buy a firearm. 

A merchant category code, typically referred to as MCC, is a four-digit number used by credit card companies to classify different types of businesses and identify the types of goods or services that a company sells. They were first mandated by the Internal Revenue Service in 2004, and currently, the MCC guidelines are maintained by the International Organization for Standardization.

If you have ever been called by your bank, asking you to confirm prior purchases that were detected as potentially fraudulent, that was by way of an MCC. Credit card companies use MCC intelligence and data to find aberrations or patterns in consumer purchases to prevent things ranging from fraud to human trafficking. 

Priscilla Sims Brown, president & CEO of Amalgamated Bank, told CNBC’s Andrew Ross Sorkin at the Evolve Global Summit on Wednesday that the banking and financial industry can, and should, use these codes to track gun purchases in order to help prevent acts of gun violence.

“While there are merchant codes for the hair salon and the shoe shine place and every other retailer, there’s no merchant code for gun stores,” said Brown. “If we did have a merchant code for gun stores, we could detect patterns that would indicate that there had been something unusual going on.” 

Credit card companies could detect any unusual activity, and submit a suspicious activity report with law enforcement, if needed. This type of activity monitoring would prove to be particularly important, Brown said, in detecting when someone purchases large amounts of weapons, or when someone is buying weapons for somebody that is not legally allowed to do so.

Software would be able to detect, for example, if someone spent $1,000 at a firearm store, and on the same day, received a $1,000 deposit from someone who is not legally allowed to purchase firearms themselves. In addition, the type of mass purchasing that MCCs would allow banks to detect have proven to be a pattern in the buying history of recent mass shooters in the U.S.

The shooter who killed 59 people at a Las Vegas music festival in 2017, for example, charged over $90,000 on credit cards prior to the shooting. The New York Times reported that the shooter had opened six new credit card accounts over the months prior, and twelve days before the shooting, began an over $26,000 firearm and ammunition buying spree. Before that, his average spending was only a mere $1,500 a month.

If these gun purchases had been tagged with an MCC, Brown said, the credit card companies would have been notified of this alarming pattern.

To date, both Visa and Mastercard are against a firearms merchant code. Brown said of the reasons the credit card companies have provided, “We think every one of those reasons would be something that could be managed.”

Card companies have cited concerns related to differences between big box stores that sell many items and more specialized firearms retailers.

Mastercard said in an emailed statement that the issue of gun violence needs to be addressed and it is the responsibility of elected officials to enact meaningful policies, while it remains Mastercard’s role to ensure that consumers are permitted to make lawful purchases on our network. Where laws prohibit the sale of certain firearms-related products, it is working to ensure Mastercard products cannot be used to purchase them.

Visa could not be reached immediately for comment.

Amalgamated Bank submitted an application to create an MCC for firearm and ammunition dealers in July 2021, but was denied by the International Standards Organization. CBS obtained documents last month that show employees from domestic and international credit card companies, including Visa, Mastercard and American Express, were a part of the internal committee that recommended the application’s rejection.

Brown said Visa and Mastercard’s resistance are based on issues for smaller gun stores and larger retailers that can be overcome by having more than one MCC. “You can certainly have more than one merchant code, including one for those that are pure-play gun stores and those that aren’t. So there are a number of ways that we could manage this problem if we wanted to.” 

In fact, this is already common practice. A super-store that has both a grocery and a pharmacy, for example, may have different MCCs for the different products sold within the same business.

Mastercard’s statement said its involvement with ISO was limited to providing a perspective that would help the committee understand how the proposed change and potential restrictions on purchasing legal goods might impact merchants and other groups.

This story has been updated to include Mastercard statement.

How to gauge your Covid risk levels these days: Track these 4 metrics

For more than two years, the daily count of new Covid-19 infections has been how most people understood the trajectory of the pandemic.

Now, experts say, daily case counts don’t mean what they used to — making them a much more flawed metric. People should still take precautionary measures against Covid, but for an otherwise healthy person, the average case isn’t nearly as serious as it once was: The majority of Americans are now vaccinated, and recent variants and subvariants are causing less severe forms of illness.

That’s good news, of course, but it does make it harder to gauge your pandemic risk levels these days. When is indoor dining a safe bet, and when should you order takeout? Should you go to the movies this weekend or wait for the current Covid wave to die down?

Daily case counts can’t answer those questions on their own anymore. Luckily, experts say there’s a series of metrics you can track alongside daily cases to help you make those types of informed decisions. Here’s what you need to know:

How daily case counts can still be useful

You should also track hospitalizations and ICU numbers

The ‘percent positive’ metric can also be helpful in small doses

Think of these metrics like the weather

Moving forward, Wilson suggests using Covid metrics like a weather forecast: not a guarantee, but a tool for assessing your risk and taking the necessary precautions.

Get in the habit of checking these Covid measures regularly, he says — especially when getting Covid and having to quarantine would adversely affect your upcoming plans. After all, you wouldn’t consult the weather forecast once and then assume that condition will remain the same for the rest of the month.

Similarly, Wilson says, checking multiple Covid metrics provides a more complete picture of your risk, the way that looking at temperature, humidity, and forecasted precipitation says more about the weather than the temperature alone.

“This is a good analogy for how we’re probably going to deal with Covid in the indefinite future,” he says. “It’ll help us make reasonable decisions.”

Wilson recommends bookmarking the CDC’s county-level data tracker. Enter your state and then your county to bring up a page of Covid metrics, along with a dashboard that displays a color-coded level of risk — green for low, yellow for medium, orange for high — and recommended precautions for each level.

“It’s a quick-glance tool that can help you understand how to be a little safer at a given time,” says Wilson. “If I look at the CDC dashboard and see orange, I’m putting a mask on when I go to any indoor spaces.”

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Chipotle and Kraft Heinz use start-up HowGood to track sustainability

Consumers are now demanding environmental accountability in everything — from the buildings they live in to the products they purchase. Food is a big one. While more and more food companies are claiming that their products are “sustainable,” a Stone Ridge, New York-based startup is asking how good that claim really is. The company is called HowGood.

HowGood analyzes thousands of ingredients — more than 33,000 so far, the company claims — looking at factors like the product’s greenhouse gas emissions, its water usage, land usage, soil biodiversity impact, potential deforestation, concern for animal welfare, and so on.

Every ingredient in every product has different environmental impacts, all of which change region to region. For each product analysis, HowGood takes in close to 250 different attributes from those ingredients and boils them all down to a rating, which companies can then use to improve their products.

“HowGood provides sustainability intelligence,” said Alexander Gillett, HowGood’s CEO. “The idea here is that we have the largest database in the world on food sustainability, and companies get to use it now to start making better decisions and to be more transparent.”

“My friends like to say I can ruin any food group,” Gillett joked.

But companies are hungry for the data, both to meet their sustainability goals, and because their customers increasingly demand it. Chipotle uses HowGood for its Foodprint, a measure of its carbon footprint. Kraft Heinz is a new client, now experimenting with some of its staples.

“We’re already looking at some really favorable, interesting things with cheese, as well as plant-based alternatives inside that same category,” said Jonah Smith, global head of environmental social governance at Kraft Heinz. “We’re really excited about the possibility that HowGood can really help us, with their extensive catalogue, look at more carbon-friendly alternatives to sourcing as well as our other ESG metrics.”

While companies like Kraft Heinz and Walmart are buying the deep data to assess their products, consumers can also use the HowGood app to check on the sustainability of products they’re buying.

Gillett says the company is seeing, “inspiring” demand from product makers for the data, but he admits that a very small fraction of the millions of products in the HowGood database actually get a top rating. Less than 5%, he said.

“Most companies mainly complain that we rate them too harshly. And we’re okay with that. We’re okay with it being hard. It’s a hard problem to solve, and I think the great thing is those companies say that, but then they trust it,” Gillett said.

HowGood has a staff of about 40 now but expects to triple that in the coming year. Its backers include Titan Grove, Firstmark Capital, Serious Change, Danone Manifesto Ventures, Contour Venture Partners, Great Oaks Venture Capital, and Astanor Ventures. The company has raised $26.5 million so far.

Stock futures are little changed with S&P 500 on track for winning week

Traders on the floor of the NYSE, May 17, 2022.

Source: NYSE

Stock futures were little changed in overnight trading as the S&P 500 attempted to snap a seven-week losing streak.

Futures on the Dow Jones Industrial Average shed about 35 points. S&P 500 futures and Nasdaq 100 futures were near flat.

Retail corporate earnings continued after the market closed Thursday. Ulta Beauty shares rallied more than 6% postmarket after better-than-expected quarterly results, while Gap sunk about 13% after slashing its profit guidance.

The postmarket moves came after stocks gained in Thursday’s regular session. The Dow rose for a fifth-straight trading day, adding more than 500 points, or 1.6%. The S&P 500 climbed about 2% and the Nasdaq Composite rose nearly 2.7%.

A batch of strong earnings from the retail sector boosted market sentiment Thursday. The SPDR S&P Retail ETF gained more than 4%. Macy’s, Williams-Sonoma, Dollar Tree and Dollar General were among the leaders.

The three indexes are on track to close the week higher. The Dow is up 4.4%, the S&P 500 is 4% higher and the Nasdaq Composite is up 3.4% on the week.

Still, the averages are well off their highs, with the Nasdaq Composite solidly in bear market territory and the S&P 500 having briefly dipped more than 20% below its record last week.

The Nasdaq after Thursday’s close is down 27.6% from its record, while the S&P 500 and Dow are off by 15.8% and 11.7%, respectively.

“We think there’s a good chance for some more strength here. This is sort of a classic bear market rally or bounce off the bottom,” Troy Gayeski, chief market strategist for FS Investments, told CNBC’s “Closing Bell: Overtime” on Monday. “Inflation expectations have rolled over recently.”

On Friday, investors will be eyeing economic data releases, including personal income, consumer spending and core personal consumption expenditures.

More contagious omicron BA.2 is on track to displace others in U.S.

A resident receives a Covid-19 swab test during a mobile clinic at Saint Paul MB Church in Cleveland, Mississippi, on Saturday, Jan. 8, 2022.

Rory Doyle | Bloomberg | Getty Images

The more contagious omicron BA.2 subvariant now makes up 72% of Covid infections that have undergone genetic sequencing in the U.S., according to data from the Centers for Disease Control and Prevention.

BA.2 became dominant in the U.S. last week, and now appears on track to displace the earlier version of omicron, BA.1. Ali Mokdad, an epidemiologist at the Institute for Health Metrics and Evaluation in Washington state, projected that will happen within the next two weeks.

Though some estimates differ, BA.2 spreads 30% to 80% faster than BA.1., according to data from public health authorities in the U.K. and Denmark.

A top World Health Organization official, Maria Van Kerkhove, has described BA.2 as the most transmissible version of the virus so far. Renewed outbreaks have occurred in major European nations, including the U.K. and Germany.

Here in the U.S., though, White House chief medial advisor Dr. Anthony Fauci has said infections might rise, but he doesn’t expect another major surge. Mokdad said he believes infections in the U.S. will likely level off for a week or two and then decline until winter.

In the U.S., new infections and hospital admissions have declined more than 90% since the peak of the omicron wave in January. The average number of people hospitalized with Covid in the U.S. was 11,000 as of Monday, the lowest level since 2020, according to data from the federal Health and Human Services Department. The U.S. reported a seven-day average of about 28,000 new infections on Sunday, the lowest level since last July, according to data from Johns Hopkins University.

BA.2 generally does not make people sicker than the earlier version of omicron, and the vaccines have the same level of effectiveness against it, according to studies from South Africa and Qatar. However, omicron in general is adept at evading the protective antibodies generated by the vaccines and causing breakthrough infections that normally cause mild illness.

CNBC Health & Science

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