Fashion post- covid is focused more on substance than flashy labels. When the world shut down and money stopped coming in it gave us the time we needed to think about our spending habits and the things we once thought we couldn’t live without didn’t make the essentials list. For fashionistas like myself, it felt silly to continue to spend on designer luxury items during quarantine and the uncertainty of when things would go back to “normal” was a harsh realization that this is the new normal.
The pivot for me was to take the $700 I would have spent on designer sneakers and invest in the stock market. If investing in the stock market is a new venture for you it’s best to start with a small amount, so if you lose it all it won’t hurt as bad.
After being stuck in the house for months I realized I didn’t need the designer shoes, bags, etc as much as I thought I did and with such economic uncertainty I wanted to see my money grown.
Here are five stocks to invest your $700 in:
Walmart (WMT) – $145
Walmart has launched a membership program that will offer free same day delivery from stores, fuel discounts, and a scan & go app feature that lets costumers scan items in store and pay via the app. Walmart + will offer an alternative delivery option to Amazon and Walmart stock prices are predicted to rise. $700 could would get you close to 5 shares. While 5 share may not seem like a lot imagine if the stock price hits the 3K mark like Amazon, thats 15K.
The Gap (GPS) – $23
Say what you want about Kanye West but if his YZY GAP collaboration is as a huge as his partnership with Adidas the stock will shoot up. For $700 you can buy 30 shares of GPS and if it goes up to $100 a shares you’ll make $3000, that’s a 328% ROI (Return On Investment) or 76% profit.
Draftkings (DKNG) – $42
Draftkings is an online gambling and fantasy sports company with a partnership with the NFL. Why it’s a good bet, because people are obsessed with gambling and sports and to be able to do it online without having to step foot in a casino is money. You can purchase 16 shares with $700.
Namaste Technologies (NXTTF) – $0.19
Namaste Technologies, the world’s larges online platform for cannabis products has been called the Amazon of cannabis. The’ve also secured major licensing deals to produce cannabis infused drinks and edibles. We’ve been hearing about how big the cannabis market will become so it’s a good time to get in early. $700 will get you a little over 3600 shares. If the stock price goes to just $50 you’ll have 180K.
Pfizer (PFE) – $40
Pfizer is one of the world’s largest biopharmaceutical companies, know for Advil, Viagra, Xanax, and Zoloft and they are in phase 3 of coronavirus vaccine trials. Pfizer could possible be the first company to produce the vaccine and if that happens your $700 could easily turn into 8,750 if the 17.5 shares you purchased reaches $500 per share.