🗞️The Wrap: Digital

Dividends on the blockchain, Joe Rogan is MINTED, and Facebook is going the long way around Africa. Enjoy.

5 most traded stocks on Stake in the last week

  • Tesla (TSLA) -1.57% in the last week
  • Microsoft (MSFT) +0.49%
  • Aurora Cannabis (ACB) +132.5%
  • Moderna (MRNA) +12.1%
  • Apple (AAPL) +0.3%

Digital Dividend

The future is here and history is being made. Overstock (OSTK) announced a digital dividend overnight, pushing the internet retailer up 17.6%. WTF is a digital dividend?

Overstock is a huge advocate for the adoption of blockchain in the financial markets; they finance a blockchain incubator under their umbrella, Medici Ventures. This ‘digital dividend’ gives investors a preferred stock (OSTKO) tradable on the tZero Alternative Trading System exchange. tZero is a crypto trading exchange. It’s an innovative approach and forces shareholders to investigate and consider the blockchain space. Read more of the details here.

The move has been approved by the SEC who will continue to monitor the constantly evolving space. Overstock is up almost 600% since the market bottom in March.

DMT Anyone?

The world’s biggest podcast has a new home. Joe Rogan’s pod signed a deal with Spotify. With 190million downloads last month, Spotify is taking a new line in an effort to take over as the home of streaming, a position Apple narrowly holds.

So, what sort of money are we talking? The incentive-based deal could earn Rogan over US$100mill. Not bad for a couple of hours a day talking about psychedelics and aliens. To be fair, Rogan gives the world access to some of the greatest minds around; it’s not just about Musk smoking weed and UFC fight reviews.

Pushing Spotify’s stock up 8%, investors are seeing similarities to Netflix’s rise once they started to own and produce their own content. Spotify has struggled to reach profitability because of all the royalties they pay. If they own the content, the path to the green appears much more clear.

Top 5 Gainers

  • Dynavax (DVAX) +73.6%
  • Coeur Mining (CDE) +46.5%
  • Penn National Gaming (PENN) +33.7%
  • 1 Life Healthcare (ONEM) +31.3%
  • PGTI Innovations (PGTI) +31.1%

Top 5 Fallers

  • Forescout (FSCT) -31.4% in the last week
  • 8×8 Inc (EGHT) -27.5%
  • Coty (COTY) -24.9%
  • Esperion Therapeutics (ESPR) -16.9%
  • Farfetch (FTCH) -14.2%

World Wide Web

This may sound unbelievable but Facebook is building a 37,000km long cable around Africa. In an effort to share the network with the continent’s 1.3b people, the 2Africa cable will aim to bring internet to the 75% of inhabitants who are left without connectivity. Long enough to wrap around the whole Earth, it connects 23 countries to the grid.

Google is also laying down the pipes, Equiano is a recent project connecting Portugal to South Africa. In fact, Google has already invested in 14 subsea cable projects.

What We’re Reading | The Changing Value of Money

Not another Dalio recommendation! The latest instalment to his ‘Changing World Order’ series is one of the most worthwhile. It answers the question on a lot of minds; what exactly is this money printing and what does it mean for inflation?

Trader Teaser

If 9898 = 6, 8888 = 8, 1810 = 3, 1212 = 0, then 1919 = ??

Best Buy | PENN +56%

A classic case of buying at support. This trader bought in on the second time $PENN bounced off $15 and held until it broke out. Textbook trade. Nice gain.

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