I love investing and like to stay up to date on the stocks and the market. I thought this would be a good way to hold me accountable and keep me focused on staying on top of the stocks that interest me. These will be posted every Friday.
Some weeks there may be dozens of stocks included in this update, or there may only be a handful. It will depend on what is happening in the market. Again, these will only be touching on the stocks I am interested in or if something seems noteworthy to me.
Airbnb
This stock has just had it’s IPO debut, originally priced at $68 per share. It closed at $144.71, more than double the valuation it sought in the IPO in one day. That puts the market cap at about $86 Billion.
They went public during a time when traveling has become a source of fear and contempt. Yet this seemed to have no direct effect on the new listing. People have high hopes for Airbnb as a major index in the next few years.
Doordash
Doordash also debuted an IPO offering, coming in at $102 per share. There was a lot of skepticism surrounding this offering. Many believed the price point was overvalued and the company would see a lot of troubles once the vaccine slows our life down.
In fact, the company has actually lost money every year since it’s founding. They blame the loss on it’s aggressive expansion into new markets, like spending $410 million to acquire Caviar. The company also disclosed they plan to continue spending heavily as they try to expand internationally.
But that doesn’t seem to affect the stock listing. Some are optimistic about the stock growth, but I’d like to see some profits for a company that owns 50% of the meal delivery market.
Bitcoin
Some of my favorite news. Bitcoin has started on its correction period, dropping down to $17,633.38 as of writing this post. It was jumping to almost $20k just a few weeks ago. Many are selling their bitcoin as a result.
But I see this as a good thing. I’m planning to purchase my first Bitcoin In the next few weeks, so this is great news for me. There is no doubt the coin will be skyrocketing to the moon. This correction will make the jump much stronger and give it a better boost to jump past $20k.
Who knows how long this correction will last now, but some are projecting it to fall as low as $14k. Others strongly disagree. There are strong polar opposite opinions on this, so I’m planning to buy as soon as I have the money.
This company had a rough week. They were hit with lawsuits from the FTC and Attorney Generals of several states. They were accused of abusing their dominance in the marketplace, engaging in anti-competitive behavior.
The Government and regulators are pushing for Facebook to be broken up. That means they want both Instagram and WhatsApp to be divested into separate companies. There is a chance this could never happen, but it could be years before a verdict is reached.
Tesla
JP Morgan analysts just shared they believe Tesla stock is not only overvalued, but dramatically so. This comes shortly after it was announced they would be joining the S&P500.
Goldman Sachs have a more bullish outlook on Tesla. They shared the price of batteries lowering, and the increase in combustion engines over the next decade result in a more optimistic outlook on the stock.
I wrote a blog post on my opinion on this stock recently. The company does not sell enough cars to justify its current market cap and there is just so much hype around this stock it makes me nervous long term. Short term this a great buy.
