This week we asked the Invstr Community what direction they think the stock market will be heading in 2021! With resounding confidence, the Invstr community has voted at a 40% relative majority for a bullish stance on overall markets with the second most popular choice also being bullish, just on crypto!
Only a mere 20% of Invstrs are neutral and even fewer are bearish at just 16%. So far it looks like the Invstr community is following the age-old advice “the trend is your friend”. And this friend is a really strong one, with the S&P 500 recovering a resounding 66.57% from March lows. With the future of the pandemic improving slowly but surely, we may very well see a full recovery. How long that may take is the real question everyone is asking.
With a vaccine out we saw the biotech sector fly off the shelves, and to kick off the new year Cryptocurrency shot up to the moon with Bitcoin passing 33,000. The automotive industry saw some new players as well as some old ones, each making big moves in the EV market with NIO’s rise and Tesla’s historical gains. With so much action occurring at just the cusp of this new year, it will truly be interesting to see what 2021 has to offer.
Cheers to a new year! (with some Teslaquila of course).