Definitely a noticeably slower week in the markets aside from Monday and Friday. With jobless claims up, COVID cases and deaths up, as well as China tensions increasing we finally got a little sell off going in the Nasdaq and the market over all. Of course earnings are starting to take their toll this week as well. The S&P was largely unchanged this week (-0.3% if you must know), the DJIA was down 0.7%, and the Nasdaq was down once again by 1.2%. Here is what moved this week!
Tesla (TSLA) – What another week for the EV giant. Wild swings in both directions ultimately ended up spelling a pull back for TSLA. Is it a buy going into next week? I believe so, especially with it’s impending inclusion into the S&P 500.
Intel Corporation (INTC) – One persons trash is another persons treasure! As we saw at the end of the week Intel’s terrible news of pushing back its next gen processors AND choosing to maybe go away from in house manufacturing crated the stock while boosting AMD.. I say it’s a buy next week!
Nikola Corporation (NKLA) – Warrants expired this week and we saw the aftermath. I believe a recovery can happen but Trevor (the CEO) has his work cut out for him!
Novavax (NVAX) – COVID play that was as volatile as any this week. Massive 50% gain on ridiculous news this week. Should fade from here
Spotify (Spot) – A new deal with UMG should give this momentum to continue it’s new age music streaming dominance. Great job Spotify team, keep up the great work!