$500K Bitcoin, Huge Weeks For Tesla, Amazon Enters New Market — RUN DOWN
With another interesting week behind us, these news stood out.
Amazon Launches Fitness Band
Amazon launched a new fitness band and a subscription service called Halo. The band doesn’t have a screen like the Apple Watch. And it comes with two innovative and already criticized functions: You can use your camera to create 3D scans for body fat. And the band is — when enabled — listening to your voice to and reports back on what it believes your emotional state was throughout the day. Price will start at $99.99 and the service for Halo’s more advanced features costs §3.99 per month. More.
Winklevoss Twins: Bitcoin Overtaking
Bitcoin could reach $500K according to Tyler and Cameron Winklevoss, internet entrepreneurs and crypto billionaires. In a new article the two pointing out that gold, oil and US dollar could be poor stores of value in the future. „Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or bitcoin will outrun the scourge. And money stored in bitcoin will run the fastest, overtaking gold.“ Full article here.
Big Weeks Ahead For Tesla
Tesla stock finished this week up roughly 5 percent, bringing the gain over the last month alone at round about 48 percent. Over the past 12 months Tesla is up a good 900 percent with the big news for this year still in the pipeline.
First: Next Monday the 5:1 stock split will take place and even though the fundamental value of the company isn’t going to change, the price at a little over $400 is expected to attract new smaller investors. The Apple 4:1 stock split will take place on August 31 also.
Second: On September 18, a S&P board meeting will take place. The question here: Is Tesla’s addition into the S&P 500 going to happen? This would be an important step and this is why: There are X ETFs covering this index alone — with Tesla in it, more people automatically would buy the stock of the electric car maker, eg through automatic savings plans.
Third: TSLA Shareholder Meeting will be held September 22 , but more importantly the Battery Day. It is rumored Tesla is unveiling its million mile battery. New battery technology could not only be used for cars but also for electric jets, as pointed out by ARK Invest Analyst Tasha Keeney on a Bloomberg appearance earlier this day. This could enable electric air taxis for example.
Have a nice weekend!
- Jonah
Photo by Jannes Glas on Unsplash