Snap (SNAP)

Snapchat app seen on the corner of mobile phone.
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Snap stock was doing just fine this year — up until this earnings season.

The camera and social media company reported disappointing Q3 results on Thursday. While revenue grew 57% year-over-year to $1.07 billion, it missed Wall Street’s expectation of $1.1 billion.

Apple’s iPhone privacy changes disrupted Snap’s advertising business. Management also warned that global supply chain interruptions and labor shortages could dampen advertising demand over the short-term

Snap shares plunged 23% in after-hours trading on the bearish outlook, but Wood moved quickly to pounce on the decline.

On Friday, Ark scooped up 230,323 shares of Snap.

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Twitter (TWTR)

Twitter is an American microblogging and social networking service - San Francisco, California, USA - 2020
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Snap’s plummeting price triggered a sell-off in other social media companies, too.

In after-hours trading Thursday, both Facebook and Twitter dropped about 5%. Even Google parent company Alphabet slipped more than 2%.

On Friday, Wood’s Ark picked up 448,944 shares of Twitter.

According to the latest earnings report, Twitter had 211 million monetizable daily active users in Q3, 5 million more than what it had in Q2.

Revenue totaled $1.28 billion, up 37% year over year and in line with analyst expectations.

Of course, if you’re on the fence about jumping into social media stocks when they’re facing so much uncertainty, you can build your own tech portfolio just by using digital nickels and dimes.

Skillz (SKLZ)

Skillz company logo on a website with blurry stock market developments in the background, seen on a computer screen through a magnifying glass.
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With a market cap of around $4.4 billion, mobile gaming company Skillz is much smaller than any of the names mentioned above.

But the stock has gotten a lot of investor attention, partially due to its swingy nature.

At the beginning of this year, Skillz was trading at $18 per share. It soared to well above $40 in early February before losing upward momentum. By mid-October, the shares had fallen to less than $10.

Unlike its volatile stock price, Skillz’s business has been trending in a steady direction: upward.

In fact, the company has generated 22 consecutive quarters of top-line growth. Its Q2 revenue of $89.5 million represented a 52% increase from a year ago.

Skillz shares have perked up a bit in recent days, likely fueled by investor excitement over Wood’s strong bullishness.

Last Thursday, Ark Invest bought over 2.1 million shares of the company.

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A creative alternative

Exposition Andy Warhol at Caixaforum building - Catalonia / Spain
Giorgiolo/Shutterstock

Investors like to follow fund managers for stock picks. But stocks aren’t the only thing you’ll find in the portfolios of Wall Street tycoons.

Many of them also invest in fine art.

Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.

Investing in fine art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Wood.

But with a new investing platform, you can invest in iconic artworks, too, just like Jeff Bezos and Bill Gates do.

Fine art as an investment

Stocks can be volatile, cryptos make big swings to either side, and even gold is not immune to the market’s ups and downs.

That’s why if you are looking for the ultimate hedge, it could be worthwhile to check out a real, but overlooked asset: fine art.

Contemporary artwork has outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.

And it’s becoming a popular way to diversify because it’s a real physical asset with little correlation to the stock market.

On a scale of -1 to +1, with 0 representing no link at all, Citi found the correlation between contemporary art and the S&P 500 was just 0.12 during the past 25 years.

Earlier this year, Bank of America investment chief Michael Harnett singled out artwork as a sharp way to outperform over the next decade — due largely to the asset’s track record as an inflation hedge.

Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultrarich. But with a new investing platform, you can invest in iconic artworks just like Jeff Bezos and Bill Gates do.

About the Author

Jing Pan

Jing Pan

Investment Reporter

Jing is an investment reporter for MoneyWise. Prior to joining the team, he was a research analyst and editor at one of the leading financial publishing companies in North America. An avid advocate of investing for passive income, he wrote a monthly dividend stock newsletter for the better half of the past decade. Jing holds a Master’s Degree in Economics and an Honours Bachelor of Science Degree, both from the University of Toronto.

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