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Early 2021 Market Trends

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Jan 06, 2021

Video Description

Early 2021 Market Trends

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The U.S. government passed a new end-of-year stimulus package, which included a $600 stimulus “stimmy” check. Though it was expected that the stimulus would send stocks in the green, the last few weeks of 2020 priced in much of the stimulus package. In addition, the state of Georgia is hosting two senate elections today to decide the fate of the U.S. Senate. This decides whether or not Joe Biden will command a majority for the first two years in office, which has left some investors with mixed feelings. As a result, stock indexes pared losses yesterday on the first trading day of the year. As stocks went down, cryptocurrencies went up. At the start of December, Bitcoin-mining companies such as $MARA and $RIOT made their way onto the Rippers list. Since then, Bitcoin has taken an even more aggressive trajectory - running all the way up to $35,000. Ethereum, another cryptocurrency, has risen above $1,100. Both of these price points are all-time highs and represent a ‘second coming’ in the crypto market. The New York Stock Exchange made the decision to remove three Chinese telecom companies from the exchange. This decision was made in light of recent laws passed to hold Chinese businesses to higher auditing standards. The passing of these laws was highlighted on Rippers a few months ago as “something to keep in mind”, especially given the propensity for poor China-U.S. relations to bleed over into a Biden presidency. The law specifically requires delisting businesses which “pose a threat to U.S. national security.”

Part of Bullish Rippers Series

Stocks Mentioned

Marathon Digital Holdings logo

Marathon Patent Group operates as a digital asset technology company that mines cryptocurrencies.It owns cryptocurrency mining machines and a data center to mine digital assets in Quebec, Canada. The company was formerly known as American Strategic Minerals Corporation and changed its name to Marathon Patent Group, Inc. in February 2013.Marathon Patent Group, Inc. was founded in 2010 and is headquartered in Las Vegas, Nevada. (From: StockAnalysis.com)

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