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Stock Giveaway: Party Like It’s … 2021

Celebrities like Miley Cyrus, Alex Rodriguez and Shaquille O’Neal help form the “equity culture”

by Bob Stokes
Updated: April 06, 2021

You may be a lucky winner!

That is -- if you participate in the $1-million stock giveaway announced by Miley Cyrus -- the "Party in the U.S.A." singer.

Here's a March 31 Marketwatch quote:

Miley Cyrus is giving away a total of $1 million worth of stock in partnership with Square Inc.'s Cash App, the … singer tweeted on [March 31].

"Nothing is more important than investing in yourself," the artist and daughter of country music star Billy Ray Cyrus wrote in a post shared on her official Twitter account. "I want to spread ownership to as many people as I can."

This is yet another sign of the pervasive "equity culture" that EWI has referenced in its publications.

Here's what our February Elliott Wave Financial Forecast said in a section titled "The Equity Culture: Bigger Than Ever?":

One mania trait that is unique to the Great Asset Mania is the stock market's infiltration in the culture at large. In 1999, EWFF dubbed this phenomenon The Equity Culture. Movies with the title Wall Street appeared in both 1929 and 1987, but these brief intersections of Wall and Main streets were tangential by comparison. In late 1999, when Martha Stewart's lifestyle company and the World Wrestling Federation (now World Wrestling Entertainment) became publicly held entities, we said on CNBC that the culture had been "equitized."

Glaring signs of the "equity culture" here in 2021 can also be seen with celebrity involvement in special purpose acquisition companies, or SPACs. These so-called "blank-check" IPOs are money raising offerings with no designated corporate entity. Here's a Feb. 24 Bloomberg headline:

A-Rod Joins Blank-Check Derby to Build the 'Yankees of SPACs'

Besides Alex Rodriguez, former astronaut Scott Kelly, NBA All-Star Shaquille O'Neal, and former Speaker of the House Paul Ryan have also been involved with SPACs.

Our February Elliott Wave Financial Forecast provided more insight into SPACs:


The volume of SPAC deals progressed from non-existent in 2009 to hundreds in 2020. The chart shows what happened in just the month of January 2021: 101 deals hit the market.

Our March Elliott Wave Financial Forecast followed up by saying:

Of a record 367 pending or completed first quarter IPOs, Bloomberg reports that 77% are SPACs.

So, the current "equity culture" is just as vibrant as it was in 1999, when EWI first introduced the phrase. And, we know what happened the following year in 2000 -- the exuberance toward equities came to a screeching halt.

Now is the time to see what the Elliott wave model anticipates next for the stock market.

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Experience and Perspective Matter – Especially Now

Here's a quote from the March Elliott Wave Financial Forecast:

A backlash has emerged against the experienced professional, to the point that someone with "a knowledge of history and value is eventually judged as an impediment to success."... Inexperienced investors are flooding into the stock market. In our view, experience matters, and it matters most of all when others dismiss admonitions as alarmist. Seeing the "broad shape of things" matters most of all. This is the province of the Wave Principle. No matter how stretched markets get, perspective will prove out, just as it always has. [emphasis added]

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