I often bring up stocks and sectors in my videos that are related to other industries that have an influx of capital, or are just moving.
I’m talking about the famous “pick and shovel” plays…
So while the miners are busy looking for gold, stores that sell shovels are getting richer by the day!
I mean, a similar thing recently happened to these pot stocks. While everyone was concentrating on the latest and greatest pot company, I was focused on the names selling hydroponic growing equipment.
But recently, the exact same relationship between financial and tech stocks has formed…
The Relationship Between Financial and Tech Stocks Revealed
Back in the day, financial and tech stocks didn’t have much in common…
But now, financial transactions are performed online and some companies are even starting to accept crypto as a form of payment.
So the bottom line is simple: The relationship between financial and tech stocks is only going to expand. It might even get to the point where physical money is obsolete… But I’ll save that topic for another video…
Today, I’m giving away two tech giants that focus exclusively on the financial space.
I believe these names will continue to see upside ahead if strong growth and consumer confidence carry on.
Tuesday’s consumer confidence figure was better than expected, which reflects largely on the gross domestic product’s growth rate because it makes up about 75% of retail sales.
If this trend continues, Wall Street might be in for a little surprise by how much market cap these types of stocks will pick up over the near term.
Check out my short video below and I’ll explain the relationship between financial and tech stocks. I’ll even give away a few of my favorite tickers.
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