US stock trading platform, Stake, and sneaker bar Butter are dropping 10 pairs of Nike’s most iconic Air Jordan’s alongside a share in the company, Nike. Stocks and sneaker markets are both home to some of the world’s most iconic brands and can give investors a cutting edge to get ahead financially. We had a chat to the Founders of Butter & Stake and got the lowdown.
Matt Leibowitz, Stake CEO and co-founder and former US high-frequency trader
- Why did Stake want to work with Butter on a collaboration?
For people in the markets, it’s more than charts and numbers. The way we see how customers engage with each other around the markets is with passion, similar to the world of sneakers. We thought it would be interesting to dive into how these worlds are similar. Stocks and sneaker markets are both home to some of the world’s most iconic brands, like Nike. They’re also influenced by global trends as well as subject to forces of supply and demand. What’s more, these days, you can buy shares in these companies as easily as you can buy a pair of their fresh sneakers. This is where the idea came about. I’m also a massive sneakerhead and fried chicken fan – so it made sense to bring these worlds together!
We’re excited to kick off our first co-lab with free virtual panel discussion to hear from some of Australia’s leading trading experts and commentators. Plus the chance to win a pair of Nike sneakers valued at $500.
- What do Air Jordans/Nike mean to you?
I grew up during the iconic reign of the 91-98 Chicago Bulls team with Michael Jordan and Scottie Pippin at the helm. One of my first pair of sneakers were Jordan 5’s… It’s crazy to think how that team totally transfixed the world during a time without internet and social media.
The rise of Jordan also had direct correlation to the rise of Nike, with company stocks jumping from around $1.50 to $5 a share. Compare that to now, Nike is valued at about $98.
- In a current climate of uncertainty, what can consumers expect of the investment markets?
There’s a million and one opinions about how the markets will perform over the coming months. Really though, Stake offers investors and traders of all types and with many different views the ability to see the opportunities they believe. That’s what amazing about the US market. It doesn’t matter whether it’s going up ways, downwards or sideways, there’s always opportunity to be had. For example, if we look at Tesla, it’s been the most-traded stock on Stake for the majority of the crisis, and has remained in the top five since it began its rally in October last year. But then you’ve also got people piling in on Zoom and Peleton, given their benefitting from the lockdown and many backing various pharmaceuticals to crack the COVID vaccine. The opportunities in the US are endless
Justin ‘KhameleonKickz’ Michael Butter sneaker & stock trader
- Why do Aussies love their sneakers?
I think it’s because our urban youth culture is still kind of developing its own unique sense of style, which has definitely come a long way, but we still look to places like the US as bit of a lighthouse for what is in trend and relevant. The US is the home of some of the world’s most iconic and innovative brands, and we want to be a part of that.
- Why do you think Air Jordan’s/Nike are so iconic?
Sneakers have become more of an artistic expression, rather than just a pair of sport shoes. People remember the iconic sportspeople, like Jordan and musicians like Kanye West when walk down a street wearing them… Its these cultural phenomenon’s and moments that also drive the demand and create scarcity. The rarer the shoe, the better.
- What does a collaboration with Stake mean to you?
It’s a great platform for me to talk about my story, which started as a school yard sneaker trader, through to starting a sneaker customisation business which gave me unique insight into how sneaker are influenced by supply, demand and cultural moments, much like trading US stocks on Stake. It’s that grounding knowledge that opened the door to stock trading, which also allows me to invest in my future and break the traditional expectation that you can only get ahead working a 9-5
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Words by Arrnott Olssen