📈 Another way to play the crypto craze

Etsy x Depop | Europe has a big dong |

Hi Reader, here's what you need to know for June 3rd in 2:58 minutes.

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Today's big stories

  1. Online marketplace Etsy is buying preowned fashion app Depop for $1.6 billion in an effort to attract younger shoppers
  2. Our analyst digs into the pros and cons of an indirect way to play the crypto craze – Read Now
  3. Danish power giant Orsted unveiled a $57 billion plan to become the world’s largest renewable energy producer

Looking For A Come-Up

Looking For A Come-Up

What’s Going On Here?

Folksy ecommerce company Etsy said on Wednesday it would Depop some tags and try out a more youthful look by buying the cool kids’ favorite clothing resale platform for $1.6 billion.

What Does This Mean?

With sustainability high on shoppers’ lists of priorities, secondhand fashion firms are enjoying a season in the sun. The likes of ThredUp and Poshmark made hugely successful US stock market debuts earlier this year, while UK-headquartered Depop has proved particularly popular with Generation Z on both sides of the Atlantic: 90% of its 30 million active users are under 26.

Publicly listed online marketplace Etsy now appears keen for a bigger – and younger – slice of the preowned action. While its largest deal ever will leave Depop operating independently, the takeover gives Etsy access to a growing customer base across 150 countries – and one likely to spend ever more money in the years to come.

Why Should I Care?

For markets: Long in the leg.
The global preowned clothing market is expected to expand 20% annually for the next five years (tweet this). The fact Etsy was willing to fork out 23x the value of Depop’s 2020 revenue reflects that optimism – and may also encourage investors in ThredUp and Poshmark, where shares currently change hands for only around 12x last year’s sales. Of course, Etsy may also be feeling flush: its own share price has more than doubled over the past year.

The bigger picture: Does my nose look big in this?
Ecommerce in general has done well out of a year in which many physical stores have been forced to shut. And even with restrictions now lifting across large parts of the planet, working (and shopping) from home could well be here to stay. So said teleconferencing provider Zoom this week as it reported better-than-expected quarterly results and raised its forecasts for 2021.

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2. Analyst Take

Should You Buy Coinbase?

There’s an indirect way to play the crypto craze: buying into newly listed cryptocurrency exchange Coinbase.

But before you dive in, you’ll want to weigh the pros and cons.

For instance, there’s huge earnings growth potential – but changes in regulation could see those hopes all but disappear.

Investment banks including Goldman Sachs and JPMorgan took a good hard look at the stock just last week – and you may be surprised at their conclusions.

So that’s today’s Insight: the opportunities Coinbase offers, the risks that come along with them – and how you can balance the two to make a smart investment decision.

Read or listen to the Insight here


Be the change you want to see

It’s an exciting time: the world is changing, and you have a chance to be at the forefront.

See, Jupiter Asset Management thinks that between climate change and social inequality, things will be very different in the future…

According to the folks over there, changing attitudes toward the environment and social responsibility will affect all aspects of life – your investments included.

That’s why, in 2018, Jupiter founded its Global Sustainable Equities Fund. The fund invests in high-quality companies that balance the needs of its three pillars: the planet, people, and profit.

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Find Out More

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What’s Going On Here?

Denmark’s Orsted wants to be the jolly green giant: the power firm on Wednesday revealed a $57 billion bid to become the world’s single largest producer of renewable energy.

What Does This Mean?

Orsted – formerly known as DONG Energy – is already the planet’s biggest builder of offshore sea-based wind farms. But the firm from the home of two famous Hans Christians is now looking to extend that lead while expanding its presence in other areas such as solar and onshore wind.

The increased $57 billion spending plan pledges to make Orsted the world’s largest renewable power provider by 2030 – but it’ll have to fend off some stiff competition. Spain’s Iberdrola has earmarked $183 billion to achieve the exact same ambition, while Italy’s Enel unveiled plans last year to roughly triple its renewable capacity in the same timeframe as part of a $195 billion investment plan – which could lead to it taking the low-carbon laurels instead.

Why Should I Care?

For markets: Blow me down.
Orsted’s share price actually fell by more than 5% following its announcement. That might be because it highlights just how crowded the renewable energy industry has become: besides specialist producers, oil and gas companies are also rapidly pivoting to green power production. The risk is that the battle for growth comes at the expense of profit, with heavy competition driving down returns for everyone involved.

The bigger picture: Green is the new black.
Despite the prospect of lower profit from renewable energy projects, don’t expect historically oil-and-gas-focused firms to hold back on their spending. The International Energy Agency says such companies still aren’t doing enough to cut emissions and limit irreversible climate change. It’s pressuring them to speed up the pace of the renewable transition and quadruple their levels of environmentally friendly investment in the coming years – or else.

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🙋 Ask a question

💬 Quote of the day

“The dead might as well try to speak to the living as the old to the young.”

– Willa Cather (an American writer)
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🌏 Finimize Live Events

🇨🇳 How to capitalize on Chinese stocks

With many of China’s tech giants listed in the US, it’s easier than ever for investors in the West to invest directly in Chinese companies. Navigating the Chinese market, however, can feel complex and overwhelming – so join us on June 4th where Michael Norris, Research and Strategy Manager at AgencyChina, will explain how to get started investing in Chinese stocks.

🚗 How To Buy Coffee And Cars With Crypto: 4pm UK time, June 3rd
📈 How To Capitalize on Chinese Stocks: 1pm UK time, June 4th
🤔 How To Understand Fundamental Analysis: 5pm UK time, June 8th
😎 How To Make Your Own Investing Rules: 5pm UK time, June 9th
🛒 How To Not Get Lost In Supermarket Stocks: 6pm UK time, June 10th
💰 How To Get Yield From Crypto: 12pm NYC time, June 14th
💡 How To Build A Robust Portfolio: 5pm UK time, June 15th
💵 How To Bet On The Rise Of Open Banking Payments: 1pm UK time, June 16th
🤑 How To Earn A Passive Income From Crypto: 12pm NYC time, June 24th
💄 How To Give Your Portfolio A Beauty Makeover: 6pm UK time, June 30th

🎯 On our radar

  1. Last year, everyone started selling masks. Now it’s time to pivot once again.
  2. Does anybody actually win Instagram giveaways? Only kind of.
  3. The dark side of telehealth. One mental health startup’s catastrophic data breach.
  4. There’s a new lottery in town. California’s giving tens of millions to vaccinated folk.
  5. Life post-hunk. Here’s what happened to Abercrombie’s shirtless greeters.
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