In this week’s recap we talk about Elon Musk saying it was time to go all out and bring the Tesla Semi to volume production making the stocks jump. Amazon, Apple, Microsoft & Amazon also reached new record highs.
Tesla shares topped $1,000 for the 1st time ever on Wednesday & early Thursday with a market capitalization of over $190B, before falling back. CEO Elon Musk wrote to employees that it was “time to go all out” & put its Semi truck into volume production. A rally of about another 15% in Tesla shares could see it become the world’s most valuable carmaker, replacing Toyota.
U.S. based Amazon reached a new all-time high on Wednesday, when its stock reached $2,722.35. Shares were up over 52%, since the March lows & up +38% in 2020 & +37% in 52 weeks. Amazon has a market capitalization of some $1.32 trillion.
Apple has become the 1st U.S. company to reach a $1.5 trillion market valuation, with capitalization at $1.53 trillion. Apple reached a new all-time high yesterday, for its stock at $354.77. Shares are up +40.63% since the March lows & up +18.88% in 2020 & +79.80% in 52 weeks.
Canada’s biggest securities regulator said on Thursday that last year’s collapse of Canadian cryptocurrency trading platform Quadriga CX was due to a Ponzi scheme, operated by founder Gerald Cotten, who died suddenly in December 2018.
Microsoft reached a new all-time high on Wednesday, when its stock reached $198.52. Shares were up over 34%, since the March lows & up over +18% in 2020 & over +40% in 52 weeks. Microsoft has a market capitalization of $1.49 trillion.
U.S. Federal Reserve left interest rates unchanged & committed to maintaining its unprecedented stimulus plan until the economy “has weathered recent events.” Says no interest rate hikes this year or in 2021. Even in 2022, the majority of policymakers believe rates will remain at the current rate levels. The Central Bank is still in opposition to negative interest rates.
The U.S. is China’s largest pork supplier; Over 1.5M filed new claims for unemployment in the U.S.; Intensified timetable for UK-EU free trade negotiations; Fenn’s treasure found in the US; The United States is officially in recession; More job cuts in UK companies are coming.