This is just an overview of the current market with additional information. NYSE and the DOW may be DOWn this week, but the NASDAQ certainly isn’t, for one reason and one acronym: FAANG. FAANG stands for Facebook, Apple, Amazon, Netflix, and Google. These tech stocks are all apart of the NASDAQ index (an index is a collection of stocks, it’s not one GIANT stock. It shows you how the market is doing). Tech stocks have been seeing huge gains in the past week that are not limited to FAANG stocks, even though analysts did just raise the target stock price for quite a few of those stocks. Within NASDAQ, Tesla jumped for reasons previously mentioned along with cybersecurity stocks such as Zscalar, Crowdstrike, and Cloudflare (not in NASDAQ). Personally, I put real cash into those 3 this week. Those are long term investments since two of those companies are startups. Even at a 22 billion dollar valuation, there’s the potential they go bankrupt. However, I’m confident that in the age of even faster world digitalization, their companies will grow to meet demand and will be huge companies say 5 years from now. Let’s look into the long term. I was able to watch and analyze an environmental forum talking about the global trading structure and apparently its imminent demise. If you’re interested the link and my simple condensed notes are included. If you have any questions you can email or message me,
Joshua So
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Authors| Joshua So | Archives
October 2020
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