E*TRADE Generation Trader - Performance of Olympic Sponsors
Americans are coming off big gold medal wins on Thursday from the women's hockey team to men's curling. For premiere athletes, olympic glory can also come with high-valued sponsorship deals. In this episode of Generation Trader in Partnership with E*TRADE Cheddar Anchors Hope King and Baker Machdo explore the performance of some of the top sponsors at this year's winter games.
Visa is sponsoring a number of U.S. athletes at this years games, including snowboarding gold medalist Chloe Kim, slalom gold medalist Mikaela Shiffrin, and free-skier David Wise.The credit card company, which has sponsored the Olympic games since 1986, says it chooses athletes who embody its values of acceptance, partnership, and innovation.
Shares of visa rebounded this week after the stock--like many others--fell during a broad market sell off earlier this month.
In 2017 Alibaba announced a long-term strategic partnership with the International Olympic Committee. IT will be the official cloud and e-commerce provider for the games until 2028. Alibaba's first global ad campaign for the games showcases the story of Kenya's ice hockey team, and pays tribute to "the greatness of small." This week shares of the company are rebounding after it fell as much as 18 percent at the start of February along with the rest of the market.
Ralph Lauren designed uniforms for Team USA. David Lauren, Chief Innovation Officer at the company, told Cheddar, "We want them to feel like they are representing our country and what our country is about." Shares of Ralph Lauren are down more than 6 percent this month, after a recent disappointing quarterly earnings report.
A Senate bill unveiled on Wednesday looks to tackleonline safety for children by regulating Big Tech and social media platforms to deter users from content that can harm their mental health. Irene Ly, a policy counsel for the age-based ratings and review organization Common Sense Media, joined Cheddar News to break down the potential of the Kids Online Safety Act. "We can't be imposing such a big burden on parents to be doing it all on theirselves," Ly said. "I think you also have to keep in mind that parents often didn't grow up with social media, so they don't understand what it's like to be addicted to social media or really understand how they work."
While many still remain skeptical about the metaverse, big tech firms and even one big bank are ready to expand their virtual worlds. Facebook parent company has pivoted so hard it will now call its employees 'Metamates,' and even JPMorgan Chase has created its own digital lounge on one virtual platform. While the sector remains young, there seems to be significant investment opportunity, especially with companies like Nvidia. Adam Johnson, a portfolio strategist at Adviser Investments, joins Closing Bell to discuss which companies could win in this space, consumer appetite, and more.
Marc Blinder, Co-Founder and CEO of Aikon, joins Cheddar News' Closing Bell, where he discusses how his company is helping businesses use blockchain applications without needing to learn the intricacies of the new technology.
Senators Richard Blumenthal (D-Conn.) and Marsha Blackburn (R-Tenn.) have introduced a new bill to afford greater protection to minors on social media. The genesis of the Kids Online Safety Act came from a Facebook whistleblower case exposing the harm apps can have on the mental health of young girls.
