Marqeta $MQ has taken a dump with the market, but I’m holding firm on my gig economy outlook. I recently rotated out of a few Singaporean stocks to buy Zovio - an online education software used by ASU Online. I’m a firm believer in remote learning and believe in ASU’s vision. Earnings are next week, so I’m taking a gamble!
Netflix’s hilarious slump has me reminiscing over an Instagram reel in 2021 where a man with a backwards cap was finger pointing at the camera touting his $50k investment of Netflix in 2017… guaranteed he didn’t sell because 90% of the people that road the Dot Com Bubble sold at the bottom… well, he still doubled his money.
The Dow/SP 500 and NASDAQ are finally decoupling their algorithmic relationship, meaning we’ll continue to see large price discrepancies. I’m not touting the deflation of all tech companies, however, I’ll be focusing my attention on two gig economy stocks: Marqeta $MQ and UBER $UBER. I’m already invested in Marqeta (see my previous post) and will enter UBER following a similar thesis based on Modern Portfolio Theory.
I exited Vermilion Energy TSE:VET and Mosaic last week; holding SembCorp Industries SGX: U96.
Inflation is chipping away at many American’s monthly, weekly bottom line and gig work is becoming a quick fix to help level off expenses.
Marqeta services the cards for many gig related companies, such as UBER, Instacart and DoorDash. I think as inflation continues and gig work rises, $MQ is set to benefit substantially with increased transactions. We will have better clarity on this investment thesis when earnings are released on May 11th.
In addition, $MQ provides exposure to crypto, which although I’m not entirely convinced on, the asset class has become mainstream and crypto wallets are finding very prosperous niche markets in sanctioned economies, video games and streaming, and a means of supporting causes worldwide with less red tape.
Furthermore, investment banks are increasing analyst coverage of Marqeta with a positive outlook. However, traditional investors prefer a bit of a financial track record and at first glance $MQ looks like a SPAC, but is in fact an IPO. From a quick search on Reddit, Marqeta is currently not on the retail investors radar.
Happy trading and investing during such turbulent times in our history. Thanks for reading and sharing 🍻