Market Recap – January 21st
Markets had an extremely rough end to last week with The Nasdaq Composite falling 2.7% to 13,768.92, The Dow Jones falling 450.02 points to 34,265.37, and the S&P 500 sliding 1.9% to 4,397.94. All in all, the markets have struggled to keep their footing. Things have been looking even worse in the crypto space, with Bitcoin falling from its November peak of nearly $70,000 to now around $35,000, and Ethereum sliding down nearly 35% since the start of the new year. We’ve been watching two specific stocks: Netflix and GM. Netflix, part of the well-known back of mega cap tech stocks “FAANG”, dropped over 21% as analysts predicted they wouldn’t even meet half the projected subscriber count in the first quarter of 2022. GM on the other hand saw some green as they began their investment of $35 billion into their electric vehicle development.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.