“We believe that the valuation and position backdrop has become a lot more challenging for bitcoin at the beginning of the New Year,” JPMorgan said. At its current market cap of $575 billion, bitcoin would have to surge to $146,000 to match the total private sector investment in gold via ETFs or bars and coins, … Read more
The cratering economy at the start of the pandemic led to a dropoff in funding rounds for seed-stage companies, according to deals databases PitchBook, Crunchbase, and CBInsights. But anecdotally, early-stage investors say they can barely keep up with their deal flow. One reason for the discrepancy is that startups are calling their seed rounds by … Read more
In an unprecedented move, the Mumbai bench of the income tax appellate tribunal (ITAT) has retracted the critical remarks it made on Cyrus Mistry in its recent order that restored the tax-exempt status of the three key Tata Trusts. In a major moral victory for the past chairman of Tata Group who was unceremoniously sacked … Read more
The TikTok hashtag “#investing” has amassed over 1 billion views on the mobile video app as more and more young people are turning to the platform to learn about the stock market. Several creators are using TikTok to explain stock market concepts in fun and interesting ways with short, snappy videos and useful graphics. Here … Read more
The Snap Analyst: Heath Terry maintained a Buy rating on Snap shares and increased the price target from $47 to $70. The Snap Thesis: A number of tech innovations and product partnerships Snap has announced since it reported third-quarter results Oct. 20 and a favorable macroeconomic backdrop increase the likelihood of above-consensus revenue growth in … Read more
Investors have shifted into cyclical assets lately as COVID-19 vaccines are on the way and the economy gets set to recover. But Morgan Stanley’s Mike Wilson is warning that valuations are getting too high, and that a near-term pullback may in the cards. He laid out four strategies to still find returns in cyclicals. Visit … Read more
For billions of people around the world, Microsoft Office and Google Docs are the default apps for writing documents. But they are ready to be challenged as people working from home reach for better tools for collaboration, believes Shishir Mehrotra, founder and CEO of Coda. Mehrotra worked for both Google and Microsoft before starting Coda, … Read more
Elon Musk has overtaken Bill Gates as the world’s second-richest person. His net worth is now $128 billion. Musk’s wealth has been on a steady climb this month: Tesla’s market cap soared as high as $498 billion Monday as it is set to join the S&P 500 in December. The jump in Musk’s net worth … Read more
The popular momentum trade that involves buying market winners and selling losers suffered its largest one-day outflow in over three decades last week Monday. This dramatic shift marked a departure from stocks geared towards working from home, and reflected investors’ excitement about an effective vaccine. But Peter Tchir, the head of macro strategy at Academy … Read more