Monday's Headlines: Wall Street Braces For Wild Week

Monday's Headlines: Wall Street Braces For Wild Week

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Tripadvisor (TRIP) +11.5%

Tesla Motors (TSLA) +7.8%

MercadoLibre (MELI) +7.6%

Spotify (SPOT) +6.6%

2U (TWOU) +6.0%

Moving Down ⬇️

GoPro (GPRO) -4.2%

Stitch Fix (SFIX) -3.9%

Calavo Growers (CVGW) -3.7%

Nautilus (NLS) -3.2%

Trupanion (TRUP) -2.3%

1. Following record closes last week, the stock market is in the red this morning after a weekend of controversial bannings and suspensions among various companies. President Donald Trump had his accounts on Facebook (FB) and Twitter (TWTR) permanently suspended as reports of further potential unrest has been discussed on these platforms. Then, Apple (AAPL) and Google (GOOG) removed Parler, an app popular with Trump supporters, from their stores on Saturday. With so much uncertainty surrounding COVID-19 and its skyrocketing cases, as well as political unrest, we can expect a few bumpy weeks ahead. Read the full story here

2. Move over Facebook, FAANG could soon be TAANG after Tesla (TSLA) overtook Mark Zuckerberg’s social media empire on Friday as the fifth-most valuable public company in the U.S. Tesla stock closed up 7.8%, bringing its market cap to $820 billion, while Facebook closed the day with a paltry $763 billion market cap. Since joining the S&P 500 in late December, Tesla has gone from strength to strength, even after growing 700% in 2020 alone and marginally missing its 500,000 annual vehicle deliveries target. If Tesla keeps up 2021’s first week pace of increase, its stock would match all of last year’s gain by mid-March. Find out more about our thoughts on Tesla as an investment, and how it makes money here

3. Despite its soaring price and popularity in recent weeks, Bitcoin highlighted its volatility once more after falling 11% on Monday. It wasn’t the only one either as the entire cryptocurrency market saw some $170 billion wiped off its collective market cap in just a few hours. The sell-off in cryptocurrencies comes after a huge rally and perhaps signals some profit-taking from investors. Bitcoin is still up over 340% in the last 12-months and last week hit an all-time high just below $42,000. Though we don’t normally discuss cryptocurrency here at MyWallSt, we can’t ignore that people may want to learn more, so you can listen to our latest Stock Club podcast here, where we discuss Bitcoin.

JamieJamie

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