Three Things (May 20th)

Commentary5 months ago
“All that seems like error is not error; it all has to be done. That which seems like a false step is the next step.” - Agnes Martin
1) Google announces new health tool to identify skin conditions, potentially pointing to ambitions in difficult-to-disrupt healthcare market
Google continues its foray into healthcare with a tool that uses AI to help self-diagnose hundreds of skin conditions - a use case whose frequency and importance was likely revealed by the company’s massive capabilities on the data front. This reinforces our view that Google’s search business is not just a formidable business in its own right, but also can play a critical role in informing the company’s efforts in non-search related verticals. With the launch of Derm Assist (pilot to be launched later this year), Google is advancing its position in the lucrative and massive healthcare industry, which has to-date proven to be one of the most resistant to tech-driven disruption.
2) Cryptocurrencies tumble as Chinese regulatory action adds fuel to recent outpour of negative sentiment
After regulators in China banned financial institutions from handling cryptocurrency transactions, bitcoin and other cryptocurrencies sank to recent lows, with crypto-related stocks Coinbase and Square similarly taking a hit. While the price of bitcoin is still up almost 280% year-to-date, the cryptocurrency took a steep dive to its lowest point since January, briefly flirting with the $30,000 price point before surging back upwards to prior day levels. While the recent volatility has been eye-popping on an absolute level, we would note that it seems normal for the asset class and in-line with prior corrections in the space.
3) The case for direct listings falters as Squarespace falls 13% on public market debut
On Wednesday, web-hosting platform Squarespace went public via a direct listing, an alternative to the traditional IPO path to public liquidity that has seen its popularity rise in recent months. One of the cruxes of direct listings’ popularity is that it takes the price-setting aspect required by IPOs out of the equation, opting instead to let supply and demand drive price discovery. While there are many advantages to that, as Squarespace has found, it can also mean less institutional support for the stock on day one of trading - something that shouldn’t matter all too much in the long run, but can result in less-than-favorable optics on market debut.

Become a Titan investor today.

Titan Global Capital Management USA, Inc ("Titan") is an investment adviser registered with the Securities and Exchange Commission (“SEC”). By using this website, you accept our Terms of Use and Privacy Policy. Titan’s investment advisory services are available only to residents of the United States in jurisdictions where Titan is registered. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities. Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance. Account holdings are for illustrative purposes only and are not investment recommendations. The content on this website is for informational purposes only and does not constitute a comprehensive description of Titan’s investment advisory services.
Refer to Titan's Program Brochure for more information. Certain investments are not suitable for all investors. Before investing, consider your investment objectives and Titan’s fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Brokerage services are provided to Titan Clients by Apex Clearing, an SEC registered broker-dealer and member FINRA/SIPC. For more information, see our disclosures. Contact: 110 Greene Street, Suite 910, New York, NY 10012. Information provided by Titan Support is for informational and general educational purposes only and is not investment or financial advice.
© Copyright 2021 Titan Global Capital Management USA, Inc. All Rights Reserved.