Bitcoin hit a record $55.000 mark late Wednesday, and experts see its continued rise this week. So far, the cryptocurrency rose around 600% beginning last year. “It wouldn’t shock to see the price make an assault on the February high of $58,350,” wrote Chris Weston of Pepperstone Group.
News For The Day: Tech Stocks Rebound As Treasury Yields Go Down
5 Stocks to Watch Out For Wednesday, March 10
GameStop Corp. ▲(GME 246.90 US +53.90 (27.93%)) stocks continue to rise, much to the dismay of short-sellers who bought the stock for that purpose. 2021’s darling stock is on its fifth day of gains, although there are still some ways to go before it eclipses its $483 record high. Analysts believe that with tech stocks on the ropes the past few weeks, some investors are looking at volatile stocks to improve their positions. There’s nobody more volatile here than GME.
Tesla Inc ▲(TSLA 673.58 USD +110.58 (19.64%)) zoomed off into space yesterday, and then some more after hours after the company reported excellent car sales in China. The move snapped Tesla’s five-day losing streak and helped it regain $106.1 billion back to its market value. Yesterday’s gains were the stock’s third-largest one-day percentage gain on record. Cathie Wood and the ARK investment group should be grinning ear-to-ear.
AMC Entertainment Holdings Inc ▲(AMC 10.50 USD +1.21 (13.02%)) shares rose 13.02% during yesterday’s trading and continued to rise for about 4% more after hours. The cinema chain continues to ride its momentum after Wedbush Securities raised its price target to $5 per share yesterday. This is almost double its previous target.
Enphase Energy Inc ▲(ENPH148.70 USD +16.64 (12.60%)) shares rose as tech and speculative stocks made a comeback during yesterday’s trading session. US Treasury Yields went down yesterday, prompting investors to get back to where they think the money will be. Enhpase was just in the right spot.
Zoom Video Communications Inc ▲(ZM 342.11 USD +31.18 (10.03%)) shares closed more than 10% higher and rose a little more after hours. The Wall Street Journal reported that founder and CEO Eric Yuan and his wife have collectively “transferred” shares that they own. Representing 40% of their recent ownership stake in the company, to unspecified recipients. Shareholders found this interesting if only for the fact that Zoom shares got more valuable as Yuan loses voting power with his decision.
You Might Also Like:
- Bitcoin Collapse Should End Discussion About it Being ‘Digital Gold’
- JPMorgan Thinks Bitcoin Can Go Up to $146K
- BioNTech, Pfizer Covid Vaccine Will Seek FDA Approval