Commerce, Booking & Payment Platforms

These businesses monetize transactions through merchant software, booking marketplaces or payment networks rather than manufacturing the goods being sold. The basket connects digital distribution with payment infrastructure, capturing spending across retail, travel and local mobility. Recent weakness in booking and mobility shares alongside stronger merchant-software and payment-network performance offers a differentiated entry point, although weaker consumer spending would pressure the entire theme. Launch basket (equal weight): SHOP, BKNG, UBER, V, MA, PYPL, MELI Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.