Adtech

Advertising in 2020 is way more than a billboard on the side of a highway these days. When it comes to catching consumer eyeballs, it’s personal. 

As consumers, we know it well. We can’t scroll to a news site, or any site for that matter, without a barrage of ads that may or may not be tailored to our interests.  And it’s true— thanks to advertising technology, advertisements are more targeted than ever.  

Adtech is a relatively new industry that has become part of the fabric of the modern world, and it’s only just begun. 

For consumers these days, the constant ads are the price of free, and so mostly, we accept it. After all, we aren’t paying for Google search, for Facebook, or to watch our favorite show on YouTube.

The internet-based services that have become so ingrained in our daily lives learn about us so that they can most successfully serve us ads and use those dollars to provide their services. This is especially true since the coronavirus pandemic shifted so many “in-person” norms to virtual experiences.

It’s a crazy world we live in, and for all of the unknowns, we can rest assured that advertising isn’t going away anytime soon. 

What is adtech?

Advertising technology (or adtech) is driven by what’s called programmatic advertising. If that sounds more like an AI algorithm than a sales team, that’s because it is. 

Programmatic advertising is “the real-time buying and selling of ad inventory through an automated bidding system. Programmatic advertising enables brands or agencies to purchase ad impressions on publisher sites or apps through a sophisticated ecosystem.”

And while we all gasp at how expensive Super Bowl commercials are every year, we don’t always consider how companies try to get in front of their target audience 365 days per year while consumers watch, click, and scroll throughout the day.

Programmatic advertising includes display ads, video ads, social ads, audio ads, native ads, and digital out-of-home ads. It’s at play whether we Google something random or tune into the season finale of our favorite show.

Consumer ad fatigue has simply led to more creative ways to grab interest. For example, native ads appear to be part of the media they appear on, rather than stand out like a pop-up or a banner ad. 

The Economist famously used programmatic advertising to tap into an entirely new audience. In one campaign, it generated 650,000 new prospects with a return on investment (ROI) of 10:1 and increased awareness by almost 65%. 

How did it achieve such success? It referenced subscriber, cookie, and content data to identify audience segments (finance, politics, economics, good deeds, careers, technology, and social justice), creating more than 60 ad versions to target potential customers effectively. 

No longer was The Economist considered a dry, intellectual journal by most. Instead, it had new relevance. What’s more, it had new readers. 

Adtech isn’t limited to the internet. For example, how many people have you heard at least consider ditching cable and just using streaming services? Meet connected TV, which is anticipated to grow to reach 204.1 million users by 2022 according to eMarketer. 

As subscribers to services including Netflix, Hulu, Amazon Prime, and Disney Plus have increased, so have over-the-top (OTT) advertising dollars to the tune of $5 billion in 2020. These ads are typically highly personalized according to a viewer’s interest and cannot be skipped, but rather must be viewed to continue consuming content. 

Ads on our computers aren’t the only adtech at play. Digital out-of-home advertising includes the high-tech billboards, on-vehicle ads, etc. Where online advertising can feel nagging, outdoor advertising is innovating in a way that appears interesting and grabs attention. According to IBIS World, in 2019 billboard advertising revenue grew by more than $8.6 billion in advertising revenue.

Why invest in advertising technology?

Lots of companies these days don’t necessarily run on our dollars, they run on our eyeballs, and our clicks. According to VentureBeat.com, “all major ad-supported tech companies are ad tech companies. They market advertising technology and use technology to support their advertising businesses.” This includes Facebook, Google, Pinterest, and Reddit. 

Adtech is the way of the future, especially as technology evolves and consumers become increasingly glued to screens. In addition to enhanced targeting capabilities, programmatic advertising gives companies real-time insights, enhanced targeting capabilities, greater transparency, and better budget utilization. 

Advertising is part of the fabric of our modern culture. Because companies can use platforms to serve us advertisements, we have access to tons of information and entertainment for no cost. As a consumer, it’s hard to ignore. 

It’s not just Google searches and websites that are ideal for digital ads. “In-game brand advertising is set to see tremendous growth in the coming years,” says Ajitpal Pannu, CEO of Smaato, an adtech platform.  “We are building up a strong foundation to support this new media channel.” 

COVID, interestingly, has moved more eyeballs on screens than ever before. And while advertising spending is down across the board as companies move to save money, adtech spending is bound to rebound, making now an ideal time to invest.

How to invest in adtech?

Advertising is by nature a very broad industry. Just about every company advertises in some way, and the technologies driving those activities are all over the map. Fortunately, a search on Magnifi suggests that there are a number of ETFs and mutual funds to help interested investors access the growing adtech sector without having to invest in many different companies.

Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. Try it for yourself today. 

This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide broker-dealer, custodian, investment advice or related investment services.]


Green Initiatives

The sky over the Bay Area is covered with a smoke so thick that it is blocking the sun, leaving it orange and ominous. The image (even in a news article) is a wince-worthy reminder that we are in the year 2020, and the world is different.

With a record 900,000 acres of wildfires burning across Oregon, more than 10% of the state’s 4.2 million population have been evacuated, according to the Oregon Office of Emergency Management. That’s a lot of people, and evacuations aren’t anticipated to end there. In total, 12 western states are burning somewhere, with Oregon, California, and Washington most severely impacted. 

“There’s certainly been nothing in living memory on this scale,” describes Daniel Swain, a climate scientist at the Institute of the Environment and Sustainability at the University of California in an interview with the New York Times

Extreme weather is a new reality, and it matters a lot to the future of economies around the world. In January 2020, before the most recent fires, the Bank for International Settlements (an umbrella organization for the world’s central banks) predicted that the disruptive effects of climate change could usher in the next financial crisis. 

This report was not a one off. According to the January 2020 Global Risks Report by the World Economic Forum, the top five global risks are climate-change related. Extreme weather, which includes floods, storms, wildfires and warmer temperatures, is putting millions at risk for food and water insecurity, property and infrastructure damage, and displacement. 

Now, it’s September and we are looking from near or far at the hazy orange sky above the Bay Area wondering: what’s next?

Where climate change was once a theory that people accepted or not in the same way that they preferred cream or not in their coffee, things are changing fast. This is especially true among millennials, who are making no mistake about where their money is being invested, namely into sustainability-oriented funds.

In what might be considered a ray of hope in a strange world, their environmental investment dollars are starting to add up and smash investing records. 

Here’s what environmental investing is and why it has more momentum than ever before. 

What is green investing?

In 2019, “estimated net flows into open-end and exchange-traded sustainable funds that are available to U.S. investors totaled $20.6 billion for the year,” according to Morningstar. “That’s nearly 4 times the previous annual record for net flows set in 2018.” This near exponential growth in investor interest is in part attributed to younger investors with a specific interest in the environment. 

Perhaps even more impressive, in the first quarter of 2020, sustainable investing totaled $10.5 billion, keeping momentum despite the economic downturn ushered in by the pandemic. 

So, where exactly are these dollars going?

It depends. When it comes to Environmental, Social, and Governance (ESG) investments can look much differently from one to the next. 

For one, some investors have a specific interest in “climate change innovators.” According to MSCI, these are companies working to innovate and scale new technologies in a way that solves climate problems in new ways. Beyond investing in the next big technology that might lead us to a net-zero carbon world, investors are looking more and more at the environmental policies of the companies that they invest with across the board. These policies include water management strategies that use water responsibly and the prioritization of protecting biodiversity in corporate operations.  

The relevance of biodiversity to our day-to-day lives is as close as the latest summer “Save the Bees” campaign. Honeybees are crucial for pollinating much of the global food supply, from apples to almonds. It’s estimated that bees are responsible for one of every three bites of food eaten in the United States. In addition to the use of insecticides used for many commercial crops, the destruction of habitat and decline in biodiversity have severely impacted this important species.  

In other words, in today’s world, how businesses do business matters greatly, not only to the environment at large, but also to the long-term value of a company. To address that, companies are putting more effort than ever into describing how they meet sustainability standards in their business operations. 

Why invest in sustainability? 

In a letter to CEOs, Blackrock CEO, Larry Fink describes climate change as “a defining factor in companies’ long-term prospects.” According to Fink, “awareness [of climate change] is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance.” 

Fink anticipates a “significant capital reallocation” into sustainable strategies as millennials, who are currently pushing for institutions to develop sustainable strategies and who will eventually become the policy makers and CEOs of the world. 

In other words, environmentally focused investing is the future. 

Not only is it becoming more popular among millennials, it is paying off for investors. According MSCI, “There is a direct, dollar-value payoff for companies to better manage their ESG risks or meet stated sustainability commitments.” 

Interestingly, since the arrival of COVID-19, awareness to and demand for ESG products is on the rise. Not only did the pandemic accelerate interest in these products, it gave them an opportunity to demonstrate their resilience, with ESG investments less impacted by the pandemic-driven market drop in the spring. 

If you are ready for a certain investment in an uncertain world, environmental investing is a natural choice.

How to invest in green initiatives

The environment, of course, impacts every one of us and touches every industry. Investing in such a broad theme can be challenging for investors. Fortunately, a search on Magnifi suggests that there are a number of ETFs and mutual funds that can help investors access this growing and all-encompassing sector.

 

Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. Try it for yourself today. 

This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide broker-dealer, custodian, investment advice or related investment services.]


mobile technology

Mobile Technology

Mobile technology is an integral part of our lives. Picture it: you get up, check your messages/emails, check-up people you love and work with, catch up on the news and other developments, and do much more on your mobile phone. And these are just some basic things people do on their phones, laptops, and other mobile devices.

Mobile technology’s key components include general packet radio service (GPRS), short message service (SMS), multimedia messaging service (MMS), global positioning service (GPS), and WAP, among others.

[Invest in 5G: What every investor needs to know.]

But “mobile” is a broad term. It essentially covers all hand-held mobile devices: mobile phones, laptops, tablets, smartwatches, and virtually any mobile device that can communicate with other devices.

Mobile technology, as mentioned, is shaping many aspects of human life: how we communicate, work, and live! The concept was mostly theoretical about three decades ago, but we now live in an age where our lives are heavily dependent on this technology.

Why Invest in Mobile Technology?

According to Morgan Stanley there have been four major computing cycles thus far: mainframe computers in the 60s, minicomputers in the 70s, personal computers (PCs) in the 90s, and desktop internet in the 2000s.

One eye-catching finding of this study is each of the subsequent computing cycles grew by a successive, continuous rate of 10X – the minicomputer cycle grew to ten times the size of the mainframe cycle and so on. The world is past the desktop internet cycle, and all focus now is on mobile technology.

The mobile technology cycle is expected to experience a boom ten times bigger than the desktop boom experienced in the 2000s – this is immeasurable, considering how big the 2000s boom was. The desktop cycle, however, was not as versatile and entrenched as the mobile technology cycle is. As such, we will likely see exponential growth as the world becomes more and more digitized.

Internet & Smartphone Penetration: There are about 14 billion mobile devices in use around the world today, according to Statista. 5.28 billion of these devices are in people’s hands, which accounts for about 68% of the world’s population.

Over half of the world’s population (about 3.5 people) is active online. 80% of internet users (about 2.8 billion people) own at least one smartphone – a sizeable fraction of this population owns more than one smartphone, which is especially well documented across Asia.

Internet penetration by mobile phone was about 48% in 2014. It grew to 61.2% in 2018 and reached 63.4% in 2019. It is estimated that mobile phone user internet penetration will be over 80% by 2022. The average mobile internet user spends about 3 hours online per day.

Smartphones are driving mobile technology. Their small size makes them convenient and hence more preferable to laptops and other larger devices.

Smartphone manufacturers have been recording increases in the number of devices they make, and this trend is expected to continue for the foreseeable future. Apple, which is one of the largest smartphone makers, sold more than 210 million iPhones in 2016 alone. It is now the first trillion-dollar company in the world, and it still plays second to Samsung.  

The world aims to achieve close to 100% internet penetration in the coming decades. The internet is also expected to grow larger and more dynamic over the coming decades. 

Currently, about 1.56 billion smartphones are sold to end-users annually. This number has been growing steadily over the past two decades, and it is expected to grow exponentially as the smartphone market expands.   

Cloud Computing: The cloud has proven invaluable in more ways than one. Most notably, it is one of the few avenues left for businesses and people to use following the outbreak of the COVID-19 pandemic.

The global cloud computing market is currently worth about $236 billion, up from $87 billion five years ago. The market is expected to grow to about $623 by 2023, which would signify a CAGR of 18%. Its uses are also expected to expand over time, and they will overlap with the new opportunities brought about by 5G technology.  

5G Networking: The mobile technology revolution is just beginning. It promises great things, such as Artificial Intelligence (AI) and Internet of Things (IoT) – IoT will also contribute to an exponential growth of mobile technology as it will connect virtually everything to the internet. 5G networking has emerged as the answer to bringing these innovative technologies to fruition.

5G technology is expected to be more than 100 times faster than the current 4G technology – to put this into perspective, 5G supports download speeds of up to 1.4GB per second. This will revolutionize technology across industries such as education and healthcare. For instance, hospitals will transmit large MRI files instantly, and surgeons can perform surgeries in virtual presence from anywhere in the world.  

Mobile technology will help shape the future of mankind. Billions of people around the world are already dependent on mobile technology for their day-to-day living, and billions more are catching up. Soon, it will become necessary to join the grid just to keep up with the human race.

How to Invest in Mobile Technology

However, like many types of new technology, investing in mobile technology does come with potential risks. mInvesting in the sector via an ETF or mutual fund, however, is a good way to counter these risks while still gaining exposure to this high-potential segment. A search on Magnifi indicates there are a number of ways for investors to access mobile tech this way.

Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. Try it for yourself today. 

This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide broker-dealer, custodian, investment advice or related investment services.]


telecommunications 5G

5G

Although 5G appears to be a relatively new trend, it has been in the works for much of the last decade. This new type of internet access, which is anticipated to potentially replace in-home WiFi in the near future, is beginning to emerge among a few select carriers. Verizon, T-Mobile, and other popular carriers are making it easy for their current customers to transition from 4G LTE to 5G mobile internet, which is a stepping stone for applying the technology to other Wi-Fi-enabled devices in the future. 

[5G is Just Part of it. Invest in Mobile Technology as a Whole.]

But investing in 5G while the concept is still relatively new, you can gain an edge over the competition by being one of the first to support an up-and-coming service that is likely to have a strong impact on the future of mobile internet.

What is 5G?

Although some people may simply think of 5G as a replacement for WiFi, the overall potential of the technology is much more complex. First and foremost, 5G is beginning to replace the 4G LTE connection that most cell phone carriers currently use to provide internet access when a reliable WiFi connection is not available. 4G, which came out approximately a decade ago, was a modern replacement for the primitive 3G and 2G mobile internet of early cell phones. Each version made new features possible, increased the speed and capability of cellular data, and boosted the range at which cell phones could get a reliable signal. Like previous upgrades, the widespread release of 5G technology is expected to increase our ability to immediately access the information we need from anywhere in the world. 

[What will 5G mean for the future of video streaming?]

5G coverage is divided into three groups: low-band spectrum, mid-band spectrum, and high-band spectrum. High-band spectrum, which is the classification that most major carriers are currently focusing on, generally provides the strongest and fastest signals. However, this type of spectrum has a much more difficult time reaching through buildings than low-band and mid-band spectrum. For this reason, it is important to carefully consider the pros and cons of each type of spectrum to get an idea of which is likely to be the most successful in your area before choosing one to purchase or invest in. 

Why invest in 5G

Although the 2020 5G market is expected to be in the range of $5 billion, 5G technology is anticipated to grow exponentially over the next five years, reaching over $650 billion by 2026

The reason for this is the fact that widespread 5G coverage has not yet replaced 4G LTE and WiFi, in part because of regulatory hurdles and delays. Once those issues are resolved, it is expected that 5G adoption will take off nationwide, but it’s still not clear what that timeline will look like and how soon all of this will happen. Still, that explosive potential is why this up-and-coming form of mobile internet is an important area for investors that are interested in the latest technology to keep their eyes on.

After all, like many emerging industries, 5G technology is being pioneered by a handful of standout companies, both large incumbents and fast-growing startups. And it’s still early in this cycle. Investors who get in on 5G now will have far more upside to ride up than those that wait until the technology is fully rolled out and in broad use.

How to invest in 5G 

However, like many types of new technology, investing in 5G does come with potential risks. Although 4G, WiFi, Bluetooth, and other older signals have been studied in-depth as far as both immediate and long-term safety, not as much is currently known about the impact of long-term exposure to 5G’s electromagnetic fields. What’s more, it’s not yet clear how soon the national 5G roll-out will actually happen nor which companies will take the lead. 

Investing in the sector via an ETF or mutual fund, however, is a good way to counter these risks while still gaining exposure to this high-potential segment. A search on Magnifi indicates there are a number of ways for investors to access 5G this way.

Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. Try it for yourself today. 

This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide broker-dealer, custodian, investment advice or related investment services.]


DISH

Dish Network (DISH)

Cable television revolutionized entertainment in the 1950s and 60s, delivering television directly to users via a dedicated cable rather than relying on weak broadcast service, resulting in better quality and access to far more content. Then, in the 1980s and 90s, satellite television technology took it a step further, beaming content directly to viewers via satellite, expanding the service footprint that cable cannot reach. Founded in 1996, Dish Network (DISH) is today one of the largest direct-broadcast satellite providers in the U.S., also offering over-the-top service via its subsidiary Sling TV. 

The company got its start in 1980 as EchoStar Communications Corporation, which distributed satellite television equipment, and didn’t get into satellite service until 1995 when it launched its first satellite, EchoStar I. As of 2018, Dish Network had roughly 17,000 employees and roughly 9.9 million customers. Its revenue for the most recent year were $13.6 billion.

Rationale

The most direct way to gain exposure to Dish Network is to buy its listed shares, of course, but there are reasons for investors to reconsider that approach. Like many companies in the television services business, DISH is currently losing customers at a rapid pace due to the ongoing cord-cutting trend, which is seeing subscribers cancel their pay-TV subscriptions in favor of direct and internet streaming entertainment options. Dish in particular lost 381,000 subscribers in Q4 2018, and more than five million in total since 2014.

However, for investors interested in gaining exposure to the television sector, rather than buying DISH shares themselves should consider buying funds that provide exposure to Dish Network and other communications firms like AT&T’s DirecTV and cable providers. After all, the return drivers that will benefit DISH might also benefit other similar companies. As investment management is gradually moving to the construction of portfolios using ETFs and mutual funds in addition to single stocks, investors would do well to consider gain exposure to firms like Dish Network through these types of funds.

Investing in DISH

A search on Magnifi suggests that investors can gain access to Dish Network via a number of different funds and ETFs, including those shown below. 

Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. Try it for yourself today.

This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide broker-dealer, custodian, investment advice or related investment services.]      

 

 

 


telecommunications

AT&T (T)

Innovation is an American tradition, and few modern companies are as directly tied to that spirit as AT&T (T), the multinational holding company that can trace its roots back to the Bell Telephone Company, founded by telephone inventor Alexander Graham Bell in 1877. Today it is the world’s largest telecommunications company, the largest mobile services provider and the largest network operator in the U.S. 

AT&T currently operates DirecTV, AT&T Mexico and a long list of other subsidiaries including Ameritech, BellSouth, Pacific Telesis and SBC Communications. It is also the parent company of mass media conglomerate WarnerMedia.

AT&T reported $170 billion in revenue in 2018. For the second quarter of 2019, it generated $35 billion from its communications business, accounting for roughly 80% of revenue. The company employs more than 250,000 and operates worldwide, including voice service in 225 countries and data service in 210 countries.

Rationale

The most direct way to gain exposure to AT&T is to buy its listed shares. But investors have good reason to reconsider that approach given AT&T’s long-term growth prospects and its current price. Much of T’s revenue is driven by landline service, which is dying out around the world. Although it is expanding into mobile communications service and other offerings, it is still tied to a fading technology. 

However, for investors interested in gaining exposure to the communications sector, rather than buying T shares themselves should consider buying funds that provide exposure to AT&T and other similar firms. After all, the return drivers that will benefit T might also benefit other similar firms in communications that are better diversified. As investment management is gradually moving to the construction of portfolios using ETFs and mutual funds in addition to single stocks, investors would do well to consider gain exposure to firms like T through these types of funds.

Investing in T

A search on Magnifi suggests that investors can gain access to AT&T via a number of different funds and ETFs, including those shown below.  

Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. Try it for yourself today.

This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide broker-dealer, custodian, investment advice or related investment services.]