Tesla Make $1 billion in Bitcoin Profit, Elon Musk is Still Bullish
Tesla (NASDAQ: TSLA) founder Elon Musk appears bullish over the future fundamentals of Bitcoin (BTC-USD) as the largest electric car maker generated $1 billion from its investment in the most valuable cryptocurrency. Early this month, Tesla reported an investment of $1.5 billion in bitcoin and announced to accept the digital coin as a valid form of payment.
GameStop in Hot Waters, Reddit’s Roaring Kitty Says Will Buy More
GameStop (NYSE: GME) stock price slid another 11% on Congress hearing as lawmakers have started drilling big players like Robinhood, Citadel, Melvin Capital, and a notorious Reddit day trader Keith Gill - known online as "Roaring Kitty".
Trade Desk Stock Is Too Expensive, Wait for Correction
Trade Desk stock price is down significantly from its all-time high of $970 amid investors profit taking strategy. Despite that, the shares of the digital advertising technology company look significantly overvalued due to the rally of 186% in the last twelve months, pushing the price to earnings ratio to 174 times.
Palantir Stock Selloff is a Buying Opportunity
Palantir stock price lost more than 25% of its value in the past five days alone as investors reacted to a surprise loss in the fourth quarter. Prior to the latest selloff, shares of the software platform rallied more than 250% in the last twelve months, thanks to robust growth in sales.
Gold Down, But One Safe Asset is Rallying
Gold price, which jumped above $2000 an ounce a few months ago and rallied almost 22% in 2020, is now out of demand as investors moved their focus towards risker assets, including stock markets. The price of gold fell close to 6% so far this year with expectations for more drop in the days ahead.
MicroStrategy Stock Skyrockets on Bitcoin Hoarding, Shares Up 160%
The mid-cap analytics company MicroStrategy (NASDAQ: MSTR) has generated big gains for investors in the past two quarters amid the massive rally in bitcoin (USD-BTC) price. The chairman and chief executive officer Michael Saylor’s strategy of converting fiat currency into digital coins worked for MicroStrategy because the company has successfully turned its millions of dollars into billions of dollars.
Shutterstock: The Less Know Stock With Strong Momentum
Shutterstock (NYSE: SSTK) share price has outperformed the broader market index last year and the shares are accelerating the gains since the beginning of this year, driven by trader’s confidence in revenue growth and earnings surprises. Moreover, bullish forecasts for the small-cap valued at $3.2 billion are adding to investor's sentiments.
Go Long with ConocoPhillips on Popping Oil Price
The largest US-based exploration and production giant ConocoPhillips (NYSE: COP) could be the best stock pick if you seek to take advantage of increasing oil prices. This is because COP has the lowest breakeven level while the sharp growth in prices would help the company to post big profits in 2021 along with offering hefty dividends.
Reddit Driven Cannabis Stocks Rally Ends in Profit Taking
Reddit-driven cannabis stocks rally ended last week in the most expected way because investors rush to capitalize on massive gains by selling their positions. This is exactly what happens with retail stocks a few weeks ago when Reddit day traders pushed GameStop (NYSE: GME) and other stocks thousands of times higher in a couple of days and then these stocks nosedived after investors started taking profits.
Bitcoin Close to Break $50K Mark But It’s Not the End of Rally
Bitcoin price has hit the $49.7K mark in Sunday trading after hints that banks, which were the major critics of digital currencies, have also started capitalizing on profit-making opportunities from the cryptocurrency markets. The Valentine’s Day rally was driven mostly by the announcement from the nation’s oldest bank BNY Mellon of opening up its custody services to digital assets.
Bitcoin Price is Likely to Break Psychological $50K Soon
Bitcoin (USD-BTC) price cruises to a new all-time high of $48600 level in Thursday trading but failed to breach the $50K resistance level and fell back to the $47K range. However, the market fundamentals suggest $50K is just a near-term physiological mark as the largest cryptocurrency is set to generate massive gains this year.