Porn on Wall St: Market Top Or Next Bull Run?
Business Insider noted one of investing’s oldest adage, when Joe Kennedy Sr. found himself sitting in the shoeshine chair alarmed to have the shoeshine boy offer him stock tips, he promptly went back to his office to unload his portfolio.
“They don’t ring bells at the top, but apparently when shoeshine boys start giving stock advice it is time to head for the exits.”
According to Zerohedge, those same bells are ringing, because [ex-porn star] Lana Rhoades was pitching classes for TrueTradingGroup on Instagram. Which isn’t porn’s latest foray on Wall St. during this Coronavirus Crash recovery, as Playboy announced a SPAC merger with Mountain Crest Acquisition, earlier this month.
When Hefner last took the magazine company private in 2011 with the help of private equity, Playboy was slow in transitioning their DVD distribution and television content online, while clumsily attempting to adapt to Millennials. Elle were skeptical in 2015, when Playboy set a no-nudes and sex-positive female editorial policy, which missed its mark and was abruptly nixed months later.
“Is sex positivity a political movement aimed at annihilating sexual shame in all its forms? Or does it just mean enthusiastically extolling the joys of sex?”
The Verge reported Playboy’s fortunes were increasingly dependent on operating through legitimate channels, while purveyors of free porn online who’ve served up the biggest threat didn’t play by the same rules.
“Playboy’s rebrand is a result of the internet — and the forces that took the Bunnies out of Playboy are the same ones that have been making it harder for pornographers to make a living for some time now.”
Perhaps Playboy isn’t the right unicorn for a special purpose acquisition company? SPACs gained popularity this year, as Wall St. is hungry for tech companies to go public and cash-in.
According to Bloomberg, Bill Ackman’s looking for a mature unicorn for his blank-check company Pershing Square Tontine Holdings Ltd. Were Ackman be searching for a tech company that profited from the stay-at-home economy over the last few months — which Jim Cramer keeps touting about on CNBC Mad Money — Pornhub would definitely be the strongest contender.
“Despite the taboo surrounding discussion of erotic matter, MindGeek has become one of the most powerful players in the online content delivery field.”
Owned by Luxembourg online porn соnglоmеrаtе МіndGееk, Pornhub is reported by the Bull & Bear of attracting more than 22 million users, 100 million daily visits and an estimate worth of over $1.5 Billion. The Logic reported the site saw traffic spike by 23.1% from the COVID-19 pandemic.
“MindGeek would be presenting itself as a tech company, when really it’s a mega porn company. And it’s not even really that. It’s a massive sexual exploitation and sex trafficking enterprise.” — Laila Mickelwait, Traffickinghub founder
When asked during an interview with Benzinga in 2017 on the probability of a Pornhub IPO, then-Vice President Corey Price replied, “We don’t have plans for that right now, but you never know in the future”.
Google search revealed Reddit users appetite on Wallstreetbets to get their clammy hands on that hot action. As Robinhooders YOLO on $PLBY calls, perhaps porn on Wall St. isn’t so crazy after all?
