The Wrap: Black Mirror
After coming off a high last week with the most read wrap of all time, Matt’s decided to take a breather and send Alex to the wolves (of Wall Street).
For those who are still left reading after realising you have a new author…..This week we go old school, celebrating George Washington’s birthday, check out some trending trading fashion, blaze a path with LeBron James, and still get our high with our newest ETF.
Robots need a conscience
There’s been a lot of talk recently about the risk of tech and the ethical obligation of creators, as explored in Netflix’s Black Mirror.
OpenAI, a Musk and Microsoft backed billion dollar research organisation, recently faced this dilemma. Their newest program composes text so close to professionally written prose, poetry and articles that OpenAI refuse to release it to the public. In an age of “fake news” (and gullible readers), the social cost of such technology outweighs the benefits. I also keep my job writing The Wrap so thank you, OpenAI.
Most popular stocks from “George” Washington State
There are 67 public companies are HQ’d in WA. Here are the most popular on Stake.
Just listed on Stake — Weed ETF // $MJ Alternative Harvest ETF
Last week was all about weed and your response made it clear — give us more..….. Introducing $MJ, the world’s first and largest ETF focused on marijuana stocks, having surpassed US$1bill of AUM (Assets under management). As you can imagine, this fund rolls its dollar bills around stocks of global companies engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products.
No doubt with Stake users growing to love the cannabis stocks in the last few months, this ETF will be smoking hot in pot-u-larity.
Best Buy | IVC +85.58%
This is one of the best buys we’ve ever seen — Invacare (IVC) specialises in mobility products for the elderly but it’s clear this trader swapped their ride on scooter for a Ferrari (RACE) and sped away to a Monster (CODE) gain.
Best Sell | SQQQ
Another week, another leveraged ETF in The Wrap. SQQQ is the triple leveraged inverse ETF on the the NASDAQ 100. On a day when the the Nasdaq 100 index rallies 1% this ETF drops 3%. Not many happy returns on this one in the last few weeks. This trader avoided 7% of SQQQ’s slide with a well timed exit. QQQudos all round to this Stake trader.
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Trending fashion
We love bringing the subculture of the market to the world. So when fashion and markets collide we take note. Check out this week’s winner of t-shirt of the week!
It may not make it to the catwalks of NYC, but it’s definitely making new highs on Wall St.
The Goat’s* cheese pizza.
Although unrelated to weed other than by name, Blaze Pizza mightn’t be a familiar name outside of the US, but it’s shareholder LeBron James certainly is. After leading his team to an All Star victory, his directors are leading Blaze to an IPO as they also unroll plans to expand to 500+ restaurants.
Blaze is “slicing” a niche in the pizza market by using the made-to-order approach to serving customers that Chipotle drove to great success. Although very few, if any, will get to front up to LBJ on the court, we may be only a few months away from facing him head to head in the trading pit!
*MJ fans may disagree
