🗞️The Wrap: Roaring TIGR
This week we play the slots with a Chinese equities brokerage, rummage through the cupboard for some valuable Patagonia vests, hang with a Stake customer and deal with another Silicon Valley IPO.
Top 5 Casino Stocks Trading on Stake
Gaming stocks have been on a roll since late last year. Respect to those Stake traders who took a chance on some of these casino stocks this week.
- Wynn Resorts Limited (WYNN) +14.99%
- Melco Resorts & Entertainment (MLCO) + 14.25%
- Las Vegas Sands Corp (LVS) +7.90%
- Penn National Gaming (PENN) +3.79%
- Vail Resorts Inc (MTN) +3.56%
To trade with the punters, check out these gaming stocks.
Pata-gone-ia
For any finance bros out there, the prestigious branded Patagonia (also known as Pata-Gucci) vest may no longer be your midtown uniform. For our Chad’s and Brad’s, Bryan’s and Ryan’s too, you’re going to need to find another vest to top off your Oxford shirt and chinos look.
Patagonia is getting picky, choosing only to make its signature branded vests for do-good companies that support charity, community or environmental initiatives. The values that align more with what Patagonia stands for. The organisation itself has adopted a more activist approach especially when it comes to politics. In December 2017, Patagonia took the Trump administration head on, suing them for cutting down on National Monument land.
Without a doubt, the CEOs of the above gaming stocks can farewell their favourite power vests.
While Patagonia isn’t listed on US market, its competitor Columbia Outdoor Wear is.
Slack This To Your Upcoming Watchlist
Another week, another IPO. Slack, the messaging service powering your workplace, is planning to list on the NYSE. No real news there. What is surprising to some, is that fact Slack is carrying out a direct listing. Astute readers will remember Spotify did the same when it IPO’d in April last year.
A direct listing bypasses and underwriters and goes straight to market. It’s cheaper and faster but a whole lot riskier. Supply of shares is determined solely by employees and private investors willing to sell, the price they settle at is by no means guaranteed.
Check out what we wrote on Spotify here.
On the Way UP
One stock roaring UP-wards is UP Fintech. This stock brokerage operating out of China has been on the prowl since listing 3 weeks ago. Up 18.5% since launch, this stock has powered Next Top Trader portfolios and made it to this week’s buy of the week.
🏆 Best Buy
Our best buy bought in at $12.31 and now the tiger has roared up to $14.92 — that’s up 21.2%!
🏆 Best Sell
Leveraged ETFs are a volatile game but this trader timed their exit to perfect and saved themselves from a 13.3% drop this past week. They jumped off just in time as the market rallied and UVXY plummeted.
Check back next week for more of The Wrap. In the meantime, start trading on Stake here!
