Jon Quast

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.

Those who use cosmetics, they wind up trying it because it's cheaper, and then if they like it, they wind up switching.

Even though it's the low-cost leader, the profits are still pretty good here.

Now, profits are down a little bit right now, but we're going to talk about that.

The stock has some catalysts.

First, it just did some price increases back in October.

It's still pricing its products below competitors, but it's getting in about a 10% increase.

That's going to be nice.

Second, its profits have been hampered by tariffs.

Look, that game changes every 10 seconds.

But I think that the future is going to be better than the current reality over the long term.

So I think those are a couple of tailwinds.

It's still a small player, expects 18% to 20% growth this year.