Happy Thursday, traders. It’s Matt here.
The stock market continued its chop fest yesterday, but there were still standout plays to trade, including two stocks that gained well over 100% intraday.
Did anyone catch Very Good Food Company, Inc. (NASDAQ: VGFC) or Blacksky Technology, Inc. (NYSE: BKSY) on their ride to the moon?
The first company found a partner to help its retail expansion across Canada. The second company secured a government contract — veteran traders can tell you a Fed contract can often lead to moon jumps for a stock.
It’s all about getting that endorsement from a credible entity. And crypto just got a VERY credible endorsement from an industry giant that’s helped launch dozens of successful start-ups…
Andreessen Horowitz Doubles Down on Crypto
Andreessen Horowitz is a private venture capital firm based in Silicon Valley. It was founded in 2009 by Marc Andreessen and Ben Horowitz and has a stellar track record of investing in some of the most successful companies in business today.
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Among the names of companies they’ve invested in and exited are Meta Platforms, Inc. (NASDAQ: FB), Coinbase Global, Inc. (NASDAQ: COIN), Roblox, Corp. (NYSE: RBLX), Airbnb, Inc. (NASDAQ: ABNB), Affirm Holdings, Inc. (NASDAQ: AFRM), and the list really does go on and on.
And now this business behemoth is doubling down on its crypto investments. Yesterday, it announced a new $4.5 billion fund dedicated to backing crypto and blockchain companies.
The firm sees the current rut in cryptocurrencies as an epic buy-the-dip opportunity. This will be the fourth crypto-dedicated fund for the company, bringing their total investment in crypto and blockchain technology to $7.6 billion.
Arianna Simpson, a partner at the firm, had this to say: “Bear markets are often when the best opportunities come about, when people are actually able to focus on building technology rather than getting distracted by short-term price activity.”
Ouch, that sounds like a jab at traders. Just kidding. In all seriousness, we think it’s a pretty sweet endorsement that someone with their track record and clout sees this moment as a temporary setback.
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In fact, Simpson and another partner named Chris Dixon compare the long-term opportunity available in crypto today to that of prior major technology cycles, such as PCs in the 80s, the internet in the 90s, and mobile computers in the 2000s.
Hey, if we’re at the precipice of another dot-com type of boom, I might just be all in for that!
Conclusion
When it comes to financial opportunities, sometimes it’s all about who you know. It’s important to make connections with people you believe in.
That’s why Bryce and I partnered up for our signature Small Cap Rockets program. But today, we’re taking a break from endorsing ourselves to introduce you to a rock star trader that maybe you haven’t heard of … yet.
His name is Mark Crook, and he’s the real deal – a multi-millionaire trader who just launched the Shadow Trades Summit. It’s all about the unique trading style he created that helped him find opportunities that could 2x, 5x, and even 10x his trades in under 24 hours. After over a decade of testing and profiting from his strategies, he’s eager to share them with you.