In this week’s recap, we’ll talk about the collapse of Tesla’s stocks, how the US Dollar is getting into trouble and how we are witnessing what seems like a second round of the Gamestop vs Robinhood situation.
Shares of Tesla up +325% in the past 12 months, fell over -8% on Monday & by Tuesday had fallen some -7% more, to a weekly loss of over -15%, in worst market days since September, thus turning negative for the year, down a total of -27% from its record close of $883 on 01/26. Shares down to $697, late Tuesday morning.
On Wednesday, GameStop shares closed nearly +104% higher. On Thursday, the gaming retailer’s stock surged another +85% in early trading, before being halted for volatility. Shares still ended up over +18% at $108.73. Up another +13.22% in the U.S. pre-market & poised to head far higher. Shares up +477% in 2021 & +2,920% y/y/ on a market cap of $7.58B.
Bitcoin -6.6% early Friday at $46,368, hitting a low of $44,150 at one point, during overnight trading. A loss of -27.6% from last Friday. Increasing to just over +$47K mid-morning in the U.S. market. Set for the worst weekly slide in almost a year, amid a major sell-off.
The U.S. launches airstrikes in Syria on Thursday, targeting facilities near Iraqi border used by militia groups backed by the Iranian government. The U.S military stated the strikes were retaliation for a rocket attack in Iraq earlier this month that killed 1 civilian contractor & wounded a U.S. service member as well as other coalition troops.
U.S. indices the Nasdaq & the S&P 500 posted their biggest 1-day percentage declines in February on Monday, as inflation fears & the overheating in asset markets, hit the supposed stay at home winner stocks, that has led the rally in corporate shares from the pandemic lows.
AT&T will sell part of DirectV to TPG Capital; Increasing the minimum wage in the US cannot be part of Biden’s relief package; Commodity prices rise to their highest in 8 years; London is losing its role as Europe’s financial center.