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Find the best trading platform. You capital is at risk when trading. Be careful.The first week of July turned out to be a very good one, and we have several positive reports from around the world. For example, Bitcoin has turned bullish, Amazon is showing their muscles, Netflix has been upgraded, and the worry for commodity prices is apparently over exaggerated. As always, there have also been a few setbacks especially in the delivery and pharmaceutical industry, and the other day Tesla was downgraded.
Tesla shares have been downgraded despite the fact that the car manufacturer reached their production milestone. Analysts at Goldman Sachs say that production is likely to drop again and have lowered their projection for the company stock. Other analysts claim that the Tesla stock is way overvalued since the stock price has increased by 2000 percent since the Tesla IPO in 2010 even though the company has yet to make a profit.
Volvo continues to break sales records and is now on track to beat last year’s record unless the trade war puts a stop to the company growth. So far in 2018, Volvo Cars have increased their sales by 14 percent in the key regions of Europe, the United States, and China. However, the US-China trade war is a looming threat, and when the latest tariffs are activated on Friday, Volvo sales might drop significantly.
Bitcoin has turned a prolonged bear market into what looks like a very promising bull market. Last Friday, the price of Bitcoin dropped below $6,000 and only hours later BTC initiated a bull run that saw the cryptocurrency gaining over 10 percent in the matter of a few hours. The trend has since continued, and Bitcoin is now slowly closing in on the $7,000 mark.
Late last week Amazon proved its influence in today’s society. Within 24 hours, Amazon wiped over $20 billion off of 10 companies in 2 industries. First, Amazon reached out to entrepreneurs, encouraging them to start their own local delivery systems, which affected both FedEx and UPS. Hours later, Amazon acquired an online pharmacy called PillPack which will allow Amazon to offer online prescription and same day delivery. The acquisition sent shock waves throughout the industry and pushed Walgreens, CVS, and RiteAid stocks down.
Netflix shares have been upgraded on the notion that the company will see an increase in new subscriptions. Baird raised their stock prediction for Netflix from $300 to $390, estimating that Netflix will gain 1.5 million subscribers in the United States and 5 million internationally during the month of June.
Goldman Sachs claims commodities will rise and that worries about the trade war are “oversold.” In a statement, an analyst working at Goldman Sachs stated that even soybeans – which will be the most affected by the latest tariffs – is a buy and that we can expect growth throughout the year.
The war between Trump and Harley-Davidson has escalated. On Tuesday, Trump addressed the motorbike manufacturer by telling Harley-Davidson that his administration was working with their competitors and that they would do whatever they could to bring more production to the country.
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