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Find the best trading platform. You capital is at risk when trading. Be careful.The one thing on everyone’s minds today is Facebook and the horrible situation they have found themselves in after an underwhelming quarterly report made the stock plummet. But Facebook is not the only one that is on thin ice, according to some analysts Tesla is in for a tough six months too. Luckily, we’ve also witnessed several positive market developments this past week and can report on everything from Plus500’s projection to Spotify’s CEO, Bitcoin, and more.
Facebook’s stock plummeted by 20 percent before the markets opened on Thursday. The reason is that the social media giant failed to meet several key metric goals for the past quarter. Everything from the company’s revenue to daily user volume is way under projection due to fake news scandals and data leaks. Unfortunately, Facebook’s future doesn’t look bright for the next coming months either and experts are expecting to see the Facebook stock plummet further.
Bitcoin finally pushed past $8,000 and has kept steady for the past week. BTC is currently trading for $8,200 but more gains are expected in the coming week. In the long run, Bitcoin’s forecast is looking strong, however, much of the cryptocurrency’s near future is now relying on Bitcoin ETFs getting the green light from the SEC. The proposed ETF products are currently being reviewed, and the SEC will deliver their verdict in September which has traders speculating that a massive bull run will be initiated by then.
Spotify’s CEO, Daniel Ek, has sold Spotify stocks for $10 million since early June. Spotify went through an IPO on the NYSE in April and has since gained over 43 percent, and Ek is not waiting to cash out on the situation. This is not the first time Ek has sold stocks in his own company and according to reports he has made over $100 million from selling stocks in the past 4 years.
Tesla could drop 40 percent by the end of the year, at least that is what JP Morgan analysts are claiming. According to the bank, Tesla is highly overvalued, and there is a high risk that the company will regain its position as the most short sold stock in the United States.
Plus500 – one of our recommended CFD brokers – is doing very well. According to their own numbers, the broker is expecting higher profits due to an increased demand among active traders and an influx of new traders. Most of the growth so far this year can be traced to cryptocurrencies but the on-going trade war is also contributing. Plus500 is not alone in their developments, and both IQ Option and eToro are also expecting increased growth for the rest of the year.
Alphabet soared to a new all-time high earlier this week, and Wall Street projects increased growth. Right now, optimism is high for several of Alphabet’s ventures such as YouTube, self-driving cars, and cloud computing. “Investments in machine learning & AI are driving innovation throughout Alphabet’s businesses, including mobile search, cloud, Google Home, Assistant, Waymo, etc.,” JP Morgan analyst Anmuth said on Tuesday after the company stock had surged close to 4 percent.
Tomorrow, Twitter is publishing their quarterly report and expectations are high. Most experts are in agreement that Twitter will outperform all predictions. If this turns out to be true, we should see the stock pop and hopefully, it can crawl back to a new all-months high after having struggled a bit during the month of July.
Remember to stay up to date with the latest news from the finance world right here on BullMarketz. Make sure to visit us daily to not miss a beat and don’t forget to check out our cryptocurrency news and our weekly segment called Let’s Talk Cryptocurrencies for more information about the world’s digital currencies. Looking for a great CFD broker? Try a the IG Markets Demo Account for free or read our detailed review of 24Option or Libertex.