Jon Quast

It's asset-backed, just like a stablecoin is supposedly backed with real dollars.

This is going to be backed by real stocks.

What this does is it allows

the 24-7 trading, and it also allows just fewer restrictions.

It's not going to be restricted like a stock.

It can trade all over the world, potentially faster, potentially cheaper.

But this is a very interesting development, and I think that a lot more penguins are going to jump in the water.

I think that we need to think about this, though, beyond just stocks.

When you think about the liquidity issue, stocks are already pretty liquid.

BlackRock CEO Larry Fink says we're headed towards the tokenization of all assets.

I think he's a pretty formidable authority when it comes to the direction of the financial system.

Basically, you look at things like real estate, that's pretty illiquid.

We're moving towards the tokenization of that as well as we step closer here.

I think that it does create some interesting things with liquidity, but it also raises some interesting questions regarding ownership.

It'll be interesting to watch this.

I'm looking at e.l.f.

Beauty, ticker symbol E-L-F.

In makeup, this is the low-cost leader among the mass-market brands.

It's grown net sales for 27 consecutive quarters.

It's taking market share in large part because it is a lower-priced option.