Tesla’s price is now tied up with the world’s biggest digital currency – what does that mean for investors?

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Your Morning Bullets Brief Updates are here! And that means trivia is, too.

On this day in 1965 the man would go on to create Dell Computer Corporation in 1984 was born. 

What is his name?

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5 things to know before the stock market opens today

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Stock futures were nothing to write home about this morning, with sagging tech stocks dragging the Nasdaq down about 1.4%. The dip follows yesterday’s nearly 2.5% decline.

Meanwhile, the S&P 500 slipped 0.8% yesterday and the Dow Jones Industrial Average managed a slight increase.

And the chairman of the Federal Reserve delivers testimony today and tomorrow before the Senate Finance Committee and the House Financial Services Committee, respectively, regarding the state of the economy. Investors are anxiously awaiting this address as their fears about inflation grow.

And the world’s largest digital currency fell 12% this morning, with the price of a single coin now less than $50,000 (more on that story, below).

Shares of Tesla are also continuing to drop.

And, although Home Depot and Macy’s both reported earnings that beat expectations, only shares of Macy’s increased during premarket trading. The CFO of Home Depot made a comment about how the pandemic’s longevity might impact consumer spending, which brought shares down.

And finally, the electric car maker known as Lucid Motors goes public.

What else do you need to know as you start your day this morning?

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The story behind this obscure 18-digit code could totally change your life

 

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During the two years that followed the 2008 crisis, America went through the worst recession since the Great Depression.

And throughout that same two year timeframe when most Americans struggled to regain their footing, trading expert Andrew Keene found a unique way to make millions…

But how?

It was when he began to look closely at a company’s stock price data that he discovered an obscure 18-digit “code.” (clicking will opt you in to Profit Pregame’s free daily e-letter – Privacy Policy)

This “code” let him see when the hedge funds and investment banks were making incredibly lucrative trades.

Trades that wouldn’t make sense to the everyday American simply because the company wasn’t in the news.

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So he tested it out…

And it worked better than he could have ever dreamed.
(clicking will opt you in to Profit Pregame’s free daily e-letter – Privacy Policy)

 

The world's largest digital currency is now worth less than $50,000

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This morning the value of the world’s largest digital currency fell to less than $900 billion after peaking at $1 trillion last week.

The cost to buy a single coin was, as of 5:30 a.m. this morning, $45,821–a decline of 15% in a single day.

Yesterday Treasury Secretary Janet Yellen called the currency an “extremely inefficient way of conducting transactions.”

“It is a highly speculative asset and you know I think people should be aware it can be extremely volatile and I do worry about potential losses that investors can suffer,” she said.

That said, the currency is still up over 60% since the beginning of 2021, and price swings of this magnitude are common in the crypto world.

What else are experts saying about this investment? Is this something you should consider buying if you haven’t yet or should you steer clear?

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Fredrick Frost

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Fedrick Frost

Fedrick Frost

News Reporter for Morning Bullets, Writes on Politics, Economy, Business & More. Intrested in sharing news With Fredrick? Click Here

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