The FAANG stocks may also benefit from the incoming administration that may stall agreement on the antitrust and the break-up threats on some of the top US tech companies.
Being a major social media outlet, Snap has benefited from the coronavirus outbreak as more people opt to socialize through online platforms.
Reports showed that Mytheresa generated 6.4 million euros in the 2020 fiscal year, compared to $1.7 million euros raised in the previous year.
Following the Bitcoin all-time high on Sunday, December 27, Riot Blockchain stock registered 20% gains on Monday’s trading session. The stock has already appreciated by 13x this year. Apart from BTC, investors of Bitcoin mining companies are making a bomb in the market.
Tesla has announced its plans to enter the Indian market early next year, but not next month as Elon Musk previously noted.
The JPMorgan analyst lowered his price target for Nikola stock on execution risks related to a “tarnished brand.”
Economists from Goldman Sachs Group have revised their Q1 GDP forecast to see a growth of 5% though earlier they expected a 3% increase.
Facebook’s decision to shut down the holding company in Ireland came after the US Internal Revenue Service (IRS) sued the company over its Ireland shore deal.
Meanwhile, funds that trusted oil and gas, suffered losses. In particular, the Direxion Daily S&P Oil&Gas E&P 2X ETF lost 97.3% this year. The Direxion Daily Junior Gold Miners Bear 2X ETF plunged 95.5% in 2020.
Pascal Soriot, the Chief Executive of AstraZeneca revealed that the vaccine is as effective as Pfizer and can be a strong protector against the new variant of the virus which is very contagious.
Zoom stock has skyrocketed nearly 5x this year on the backdrop of massive demand owing to the work-from-home culture and more businesses moving online. Zoom investors had a phenomenal bull run in 2020.
Just as expected, the market has reacted to this news. The S&P futures (INDEXSP: INX) recorded a surge of 0.62% right after the Christmas holiday.
As the year comes to an end and the final trading week of 2020 begins, Asia markets were mixed on Monday as some firms pulled in gains and others declined. Alibaba stock is in the red.
With Tesla up about 700% this year, investors should avoid thinking about growth at any price and rather diversify their portfolios to older stocks.
Alphabet through Google Cloud has identified a huge gap in the Saudi Arabia cloud infrastructure and intends to fill it despite the impending competition.