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Maria Sharapova takes equity stake in investment platform Public.com – CNBC

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Grand Slamp champion Maria Sharapova
Shaun Botterill | Getty Images

Former top-ranked tennis star Maria Sharapova is looking to make financial literacy more accessible. The tennis champion and entrepreneur announced Monday that she has taken an equity stake in Public.com, a company that lets you buy and sell stocks and cryptocurrencies online. Sharapova did not disclose the size of her stake.

“Since I was a very young girl, as a teenager, I made my first big paycheck by winning Wimbledon and to be honest, the financial investment space is one that’s very intimidating,” Sharapova told CNBC. “I appreciate how Public is more user-friendly, and offers a simplified way to educate yourself to make investing less intimidating.”

Sharapova knows a thing or two about making money. For 11 straight years she held the title of highest-paid female athlete, according to Forbes.

She says in addition to her financial stake in Public, she will host events, share advice and serve as an advisor for NCAA student-athletes on the platform.

Public was founded in September 2019 by Jannick Malling, who now serves as co-CEO. Today, the platform that allows users to build portfolios and invest in stocks and cryptocurrency has more than 1 million users, 90% of which are first-time investors. The company says its user base grew 13 times in 2020.

Public has raised $310 million in funding, with investment from Accel, Greycroft and Lake Star. Other big-name investors include actor Will Smith, NFL player JJ Watt, media mogul Shari Redstone, businessman Dick Parsons and skateboarding legend Tony Hawk.

“One of the most important reasons of my investment into Public is the incredible stat that 40% of the audience on the Public app is female, which in this space, is almost unheard of,” said Sharapova. In addition to attracting women, 45% of Public’s users are Black or people of color.

For Sharapova, her unique upbringing as a professional tennis player gave her a front-line seat to the business world. The young tennis player came to the United States from Russia as a 7 year old with just $700 in her pocket. Her career quickly took off, and she become the top tennis player in the world on five separate occasions. During that time, she gained high-profile endorsement deals with companies from Nike to Pepsi to Porsche.

In 2012, Sharapova launched her own company, Sugarpova, a successful candy and sweets brand. The company now reportedly earns more than $20 million per year. Sharapova has also invested companies in the health and wellness space such as Tonal, Therabody and SuperGoop. Despite her success, she’s always trying to learn more.

“I try to grab as much education from meetings, sitting in boardrooms, to looking at my own contracts, and not having too many external people doing it for me,” she said.

Sharapova retired from the professional tennis circuit in 2020, following nagging injuries and a failed doping test that sidelined her for 15 months.

While Sharapova made her name on the tennis courts playing for nearly two decades and earning five Grand Slam titles, she’s optimistic about what lies ahead.

“The first chapter was incredible and I got to experience so much in my youth but there’s something about this next chapter that gets me just as excited,” she said.

The former tennis ace says she spends much of her day focusing on her many business ventures, however she says she has kept a close eye on the Peng Shuai situation in China. On Nov. 2, Chinese tennis player Shuai alleged sexual assault by a top Chinese government official. Women’s Tennis Association chief Steve Simon made the decision on Dec. 1 to suspend all tour events in China because he says that Shuai’s allegations have not been listened to or taken seriously. This decision will cost the WTA hundreds of millions of dollars in lost revenue. The Chinese government responded to the WTA’s decision by accusing it of “putting on an exaggerated show.”

“I’ve actually been incredibly impressed by how the the WTA has stood up and took a stance. Steve Simon doing the right thing has been wonderful,” she added.

Sharapova says she hopes and prays that her former colleague and rival and her family are safe.

“I think of people before I think of business, I think of the human element and that’s why I’m in complete support of the tour,” she said.

Correction: Steve Simon is chief of the Women’s Tennis Association. An earlier version misstated the name of the organization.

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Cross-border investment surged in November – Investment Executive

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The cross-border activity was concentrated on debt securities, with foreign investors adding $31.4 billion worth in the month, up from $20.4 billion the previous month.

StatsCan reported that investors targeted federal debt — adding $8.6 billion in bonds and $6.5 billion worth of money market securities — along with $9.8 billion in corporate debt.

Conversely, foreign investors trimmed $1.3 billion worth of Canadian equities in the month.

“The reduction reflected retirements of Canadian portfolio shares resulting from cross-border merger and acquisition activities. Foreign purchases of Canadian shares on the secondary market, led by shares of chartered banks, moderated the overall reduction,” StatsCan said.

At the same time, Canadian investors ramped up their buying of foreign securities in November.

In total, domestic investors added $17.5 billion in foreign securities, StatsCan reported. This was up from $5.4 billion in October.

Canadian investors jumped into U.S. stocks in November, buying $7.4 billion worth of equities, up from just $652 million in October. Large-cap tech stocks and index funds were the primary targets, StatsCan said.

Additionally, investors bought $4.0 billion worth of non-U.S. foreign shares in November, reversing a $2.5-billion divestment in October.

Canadian investors also added $6.1 billion in foreign debt, including $2.8 billion in U.S. corporate bonds and $1.6 billion in U.S. government bonds.

In a research note, National Bank Financial Inc. (NBF) said November’s $17.5-billion net investment means Canadian investors acquired $144.4 billion worth of foreign securities during the first 11 months of 2021.

“In dollar terms, you won’t find a prior [year-to-date] tally remotely close,” NBF said, noting that the previous record was $73.3 billion about 15 years ago.

Even with the record flow into foreign securities, net portfolio flows are still positive for Canada, as foreign buying of Canadian securities has been even stronger.

“An improved current account means Canada is less reliant on foreign inflows,” NBF said. “Still, the apparent abandonment of Canada by domestic investors is part of an overall capital bleed that needs redressing.”

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4 Must-Have TFSA Stocks for Any Investment Goal – Yahoo Canada Finance

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Make a choice, path to success, sign

Written by Amy Legate-Wolfe at The Motley Fool Canada

If you have a Tax-Free Savings Account (TFSA), then you hopefully have an investment goal to go along with it. Now, we could drill down into specific savings goals, but, honestly, those goals change! What someone wants at 30 will be different at 50, and so on. First, it’s student debt, then a house, then a child, their education, and, of course, retirement.

Frankly, you shouldn’t have to juggle your investments every time you come up with a new goal. In fact, one of the main points of investing is to buy and hold for as long as you can. Sure, you can take out cash as your goals come in, but you should be able to hold onto them for as long as you want.

With that in mind, here are four TFSA stocks that will help you achieve any investment goal.

Fortis

If you’re going to have long-term TFSA stocks, you need stable companies to get you there. That would definitely include Fortis (TSX:FTS)(NYSE:FTS). The utility company has been growing its dividend each year for almost 50 years. This comes from a stable business plan of growth through acquisition.

Investors have been flocking to Fortis as one of the TFSA stocks they want because of this stability — especially during the market pullback. The company is basically recession proof, providing gas and electric utilities to 3.4 million customers. You need the lights on no matter what, making it a strong choice for any investor.

Fortis shares are up 16% in the last year with a dividend yield of 3.63%.

TD Bank

The Big Six banks may be trading at all-time highs, but there’s a reason. And that reason is why they’re TFSA stocks for any investment goal. The banks managed to get out of the market drop relatively unscathed, and yet they still have so much cash on hand to make up for lost time. And that comes through solid dividend jumps.

But Toronto-Dominion Bank (TSX:TD)(NYSE:TD) has even more to offer. TD stock offers the most growth of the Big Six banks, with the most amount of credit card partnerships, growing online and United States presence, and the most loan options for solid revenue streams. And yet even after all this growth, TD stock still trades at just 13.42 times earnings.

TD stock is up 41% in the last year, with a dividend yield of 3.47%.

Constellation Software

If you have the cash to invest, Constellation Software (TSX:CSU) is one of the few tech stocks that remains a stable investment. The company has been an acquisition powerhouse, identifying the software companies it believes will thrive with incredible expertise.

It’s those experts that have managed to keep the company growing at a stable clip, even as other tech stocks burn around it. Constellation shares have been steady as a rail, growing through venture funds and seeing revenue rise 30% year over year during the last quarter. It’s one of the TFSA stocks any investor should add as soon as possible before it rises even more.

Shares of Constellation are up 34% in the last year, and it recently boosted its dividend to offer a yield of 0.24%.

Nutrien

Finally, Nutrien (TSX:NTR)(NYSE:NTR) may be on the newer side, but don’t count this out among TFSA stocks. People need to eat, and Nutrien is now the world’s largest crop nutrient provider. As arable land decreases and climate change increases, Nutrien will be a necessity for any portfolio.

Nutrien continues to grow through acquisition. In the last few years, it has increased its digital presence at an incredible rate. This kept revenue coming in at an incredibly important time — for the company and farmers. Now, it’s nearing the three-digit mark and isn’t likely to come down.

Shares of Nutrien are up 37% in the last year, with a yield of 2.57% for investors.

The post 4 Must-Have TFSA Stocks for Any Investment Goal appeared first on The Motley Fool Canada.

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Fool contributor Amy Legate-Wolfe owns TORONTO-DOMINION BANK. The Motley Fool recommends Constellation Software, FORTIS INC, and Nutrien Ltd.

2022

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Gulf Energy, Binance announce Thailand crypto partnership

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Binance, one of the world’s biggest cyrptocurrency exchange by trading volume, will set up a crypto exchange with Thailand’s Gulf Energy Development, both firms said on Monday.

Gulf Energy in a disclosure to the stock exchange said its agreement with Binance is a response to the rapid growth in digital asset infrastructure in Thailand.

Binance said it would set up the cryto exchange and related businesses in the country.

“Our goal is to work with government, regulators and innovative companies to develop the crypto and blockchain ecosystem in Thailand,” a Binance spokesperson said.

“The first step is to explore opportunities in an open and collaborative manner. ”

Last year, Binance received a criminal complaint from Thailand’s market regulator, the Securities and Exchange Commission (SEC) for operating a digital asset business without a license.

The Thai energy company has been diversifying into new areas and last year became the major shareholder of Intouch Holdings Pcl, owner of the country’s largest cellphone operator, Advanced Info Service PCL.

 

(Reporting by Panu Wongcha-um; Editing by Martin Petty)

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