We try to keep our pulse on the market. We follow the right Reddit threads, participated in the Gamestop short squeeze, and enjoy dabbling in cryptocurrency trading and NFTs. So, yeah. We know a thing or two about stocks.
If you’re wondering where to put your money this year, we have some ideas that aren’t all about our moisture-wicking dress shirts (though they are a fantastic investment). At the very least, incorporating our picks into conversations will show you’re at the forefront of technology innovation—and memes.
Let’s be clear: these aren’t financial recommendations like the ones you receive from your advisor. This is as close to gambling as you can get without visiting a casino. But the next time you’re discussing investments at the watercooler or on the golf course, consider mentioning these.
Here are some of the riskiest investments you can make this year.
2021 saw a wild year for the stock market. New retail investors made huge bets on underperforming stocks. Stocks like Blackberry, AMC, and Gamestop went viral. Why? Who knows. Some people, like this investor, did great. Others lost a ton of money. If you’re part of the latter group, you might be hesitant to reinvest in meme stocks, but consider taking a cue from Lou Reed with a little walk on the wild side.
What’s a meme stock?
A meme stock is a share of a company that was made popular by the internet and developed a cult-like following of investors.
While some of last year’s meme stocks are now punchlines (RIP Dogecoin), this year’s seems to have a little more validity.
Tesla is not a new company, and owning shares of Tesla isn’t unheard of. While its founder Elon Musk has become a meme himself in recent years, the company’s share price has increased 10x since 2020.
So, is Tesla a meme stock you should buy? Our Magic 8-ball tells us ‘Cannot predict now,’ so make sure to do your own research before making an investment.
Some reliable sources in the finance space are highlighting Tesla as a potentially strong long-term investment. However, Tesla’s stock price plummeted after Elon Musk announced that the company was delaying new product launches until 2023. All that to say, the value of meme stocks is volatile, and play at your own risk.
Bitcoin may have been the most lucrative investment option while you were in college, but there are new cryptocurrencies to make you rich. Enter: meme coins. Over the past few years, meme coins like Dogecoin and Shibu Inu have gained popularity.
What’s a meme coin?
A meme coin is a cryptocurrency inspired by memes and internet jokes. While they’re not meant to be taken seriously, people who want in on the laugh are buying them. Once a coin gains popularity, the value spikes, making it more than just a laughable investment. Some are making a lot of money from their investments. This Insider article reports on a trade made in 2020 that turned $8,000 into more than $5 billion in 2022.
Big finance sites are predicting new coins like Samouyedcoin and Monacoin as the next coins taking off in 2022, so you can know that we’ve got our eyes on them.
Everybody is talking about NFTs.
But what is an NFT? If you haven’t already seen Saturday Night Live's take on the topic, NFT literally stands for non-fungible token, which means it can’t be replicated or replaced. From drawings to music to the first-ever tweet, NFTs can be anything in the digital world. So, if you want to be the happy owner of a virtual art collection, investing in NFTs might be for you.
However, before you start curating your digital museum, there are a few considerations to keep in mind. First off, make sure you’re buying from an actual NFT store. Scammers often replicate major NFT marketplaces, like OpenSea, to trick buyers into thousands of dollars on fake artwork. Additionally, you can’t liquidate NFTs into traditional fiat as easily as you can with cryptocurrency, and many NFTs worth something today could drop to zero tomorrow.
Jack Dorsey’s first tweet was sold in 2021 for $2.9 million. The highest bid at this year’s resale auction was $280. So if you’re interested in purchasing NFTs to make a profit, make sure you can stomach losing all of your investment.
While meme stocks and cryptocurrency are the biggest waves we’re riding right now, Gen Z is more interested in investing in the metaverse. If you want to diversify your investments into something unknown, consider putting some money into Zuckerburg’s latest attempt to give The Company Formerly Known as Facebook a facelift.
What is the metaverse?
The metaverse is a virtual world that continues to exist even after you’ve left the virtual space. We’re imagining something like the movie “The Matrix” but with more ads.
Tech companies like Microsoft and Google have already started investing in this mysterious new world. However, how can retail investors get involved? Currently, the easiest way is through exchange-traded funds, also called ETFs. Since ETFs are diversified, they lower your risk exposure in the market. If you’re interested, consider looking at the Roundhill Ball Metaverse ETF. It’s currently the largest metaverse-focused fund, zeroing in on gaming and computer hardware companies.
Whether you’re looking for fun ways to make extra cash for a boozy Cancun trip or you need more conversation starters for your virtual happy hours, consider these RISKY investments as a starting option.
* Mizzen+Main has no position in any of the investments mentioned above. We prefer visits to the Las Vegas Strip where the magic happens on the casino floor instead of with memes.