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Hi Reader, here's what you need to know for December 7th in 3:00 minutes.

🖥 Web 3.0 – or web3, as the cool kids call it – could be the defining tech trend of 2022. So join us for How To Invest In Web 3.0 And Network Effects on Wednesday, and find out how you can switch your portfolio off and on again so that it works a lot more smoothly. Get your free ticket

Today's big stories

Chinese AI firm SenseTime announced plans to list on the stock market later this month
If you’re wary of the crypto market but warier still of being left behind, one portfolio could be perfect for you – Read Now
The International Monetary Fund warned that the new Covid variant could slow down the global recovery

Face Value

What’s Going On Here?

SenseTime announced plans to list on Hong Kong’s stock market on Monday, and China’s biggest AI firm thinks anyone who buys in will be very – processing... – happy.

What Does This Mean?

SenseTime – which specializes in facial recognition software – saw massive demand for its services last year, primarily from a Chinese government that wanted to keep lockdowns locked tight. And unlike many of its rivals, the company hasn’t been the subject of any cybersecurity reviews from the country’s regulators either.

Put those two favorable circumstances together, and SenseTime’s decided that now’s the time to go public. The company has previously said it was looking to raise up to $2 billion, but the company knows full well that investors – burned by government crackdowns – are wary of Chinese stocks these days. Now, then, it’s looking for nearly $800 million, which would value the company at “just” $17 billion.

Why Should I Care?

For markets: SoftBank needs a win.
SoftBank will certainly be hoping SenseTime does well: the Japanese conglomerate – which owns 15% of the company – saw its shares fall for the seventh consecutive day on Monday, bringing the decline to nearly 20% in the last week. Some of its biggest holdings have been struggling, after all: crackdown-battered Alibaba has seen its stock plummet, ride-hailing company Didi is being forced to leave the US stock market, and British chip designer Arm is proving more than a little difficult to sell.

Zooming out: China needs to spend.
China’s been (relatively) quiet on the crackdown front lately, which might be because the country has bigger fish to fry – namely managing a slowdown in its economic growth. That might be why it said on Monday that it’ll cut the amount of cash its banks have to set aside for a rainy day. The move will give them more to lend out to people and businesses, which should encourage them to spend, spend, spend.

You might also like: Goldman thinks these 50 stocks will profit from China’s regulatory push.

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Analyst Take

Crypto Skeptical But Crypto Curious?

Reda, Analyst

What’s Going On Here?

Two things can be true at the same time.

Today’s crypto market can resemble the dot-com bubble of the late 1990s, where prices of “internet-branded” stocks went through the roof before crashing spectacularly.

And the crypto market can be built on blockchain technology that – no matter what happens to the tokens built on top of it – does indeed look set to define the next decade or more.

But here’s the thing: if you feel yourself torn between those two truths, you don’t have to be.

Because there’s one portfolio – one more regularly applied to traditional assets like gold and bonds – that could be perfect for you.

So that’s today’s Insight: how this portfolio works, and how to apply it to the cryptocurrency market specifically.

Read or listen to the Insight here

Find wealth in health

Value isn’t exactly easy to find in today’s sky-high stock markets.

But NowRx might be a good place to start: the tech-enabled pharmacy startup has been growing fast, with a share price that’s increased by 1,650% since 2016, alongside a CAGR of 81%.

And now you can invest in its latest fundraising round.

The company uses proprietary software and robotics to provide free same-day prescription delivery and personalized service to its 35,000-plus patients.

That might be why NowRx saw revenue jump 90% from one year to the next, and why it’s set to surpass $22 million this year.

With over $9 million already raised from 2,800 investors, this might not be an opportunity to miss.

Learn more about investing in NowRx.

Learn More