HAPPY NEW YEAR! WHAT’S BEEN HAPPENING WITH CRYPTO & STOCKS SINCE DECEMBER? 🤔
HAPPY NEW YEAR! I hope your Christmas went well, and you’re ready to financially and mentally stretch yourself in the world of investing even more than you ever had in 2023!
Let’s chat about what has happened in crypto since mid-December:
BTC: Today’s Bitcoin price was $16,927 and Ethereum came in at $1261. Both coins have swung in every direction imaginable in the last couple of weeks and probably will continue swinging. Do y’all remember that this time last year BTC was at $57K? And it’s been sliding down the charts all of 2022.🤷🏾♀️
It also took another deep dive after the FTX scandal. You already know about FTX and FTX.US both filing for bankruptcy; with their ex-CEO, Sam Bankman Fried (SBF) being charged amid the fallout from that crypto crash that is ongoing. We also know that crypto exchange BlockFi received a line of credit from FTX.US but then they also ended up also filing for bankruptcy on Nov. 28.😳
As for SBF, well …. he’s no longer in the Bahamas, he was extradited to the USA, went to court, and was released with a bail of $250M. He pleaded not guilty to eight criminal charges, including conspiracy to commit wire fraud and money laundering, in the U.S. District Court in Manhattan on Tuesday.
Let’s chat a bit about stocks:
TESLA (TSLA) - Their shares have dropped (partly because of Elon Musk selling his shares for the purchase of Twitter). Reuters has reported the latest Twitter news that Elon Musk is stepping down as CEO of Twitter when he finds someone “foolish enough to take the job.” 😩
APPLE (AAPL) - This company is touted to be the most valuable technology company in the world but their stock significantly underperformed in December with a 12% drop (their biggest drop since 2019). Bloomberg is reporting that Apple told several suppliers to make fewer components for a number of products because demand for those products was low. Hmmmm. 😳 Covid-related issues in China caused a slowdown in the production of the iPhone and of course this caused Wall Street analysts to cut their estimates for iPhone sales. All of this combined caused the stock price to drop.
GOOGLE (GOOGL) - Google stock jumped 65% in 2021 but last year their shares dropped by 39% according to Investors dot com. Even though their 52-week high was at $149., today it’s trading at $88.
MICROSOFT (MSFT) - Their shares have been lagging lately, underperforming when their shares fell by 5% because of slow growth with their iCloud service as well as Office Suite.
We’ll continue to keep an eye on stocks and crypto, let me know if you have questions. I’ll see you next Friday! HAPPY NEW YEAR! #2023
Copyright ©2023 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™. The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.