The Metaverse EVs Among Big Winners

The Metaverse EVs Among Big Winners

the metaverse evs among big winners

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When people gather around the Thanksgiving table this week, the heady rally in technology, electric vehicles and cryptocurrency-related stocks is likely to be part of their conversations.

There’s a reason it should dominate the little discussion: The tech-heavy Nasdaq 100 is now worth almost half that of the benchmark S&P 500 index, the best ever, and mega-cap tech stocks alone account for a third of the share. S&P 500. Nvidia Corp. and Roblox Corp. stood out in a year in which the rest of the big tech names raced to new highs, defying a series of calls to promote last year’s Thanksgiving round due to valuations. floating.

Here are some of the hottest stocks and topics since last Thanksgiving:

Scorching Chips

Chipmaker Nvidia has skyrocketed 148% as booming chip demand and a foray into the metaverse made it the company with the best They used Supplies Inc. and Superior Micro Gadgets Inc. had been other gainers, each rising around 80% and outperforming many of the mega-cap tech stocks.

Surging EV Makers

Tesla electric vehicle maker Tesla Inc. soared to a market value of $1 trillion as shares of the electric car maker doubled in value, buoyed by a sustained rebound in gross sales, while shortages had crippled the halving. the automotive trade in general. EV fever was much more evident with Rivian Automotive Inc., which doubled in value in less than two weeks after going public. Lucid Group Inc. was another hot name in the industry.

Metaverse Mania

Roblox from its March listing to Facebook’s name change to Meta Platforms Inc. showed that the metaverse was the next big tech thing. The house frenzy was evident with the Roundhill Ball Metaverse ETF, a trade-traded fund focused on the subject, surpassing $500 million in assets under management on November 17, having doubled in just two weeks

Cryptocurrency Craze

From digital to money Digital: Bitcoin briefly rallied $60,000 and a rally in smaller cryptocurrencies boosted a bunch of partner stocks like Marathon Digital Holdings Inc., Riot Blockchain Inc., and MicroStrategy Inc. Marathon Digital was one of the biggest gainers, with its inventory multiplying by ten.

Don’t overlook the FAANGs

Retailers who found themselves with massive names haven’t done badly either. The likes of Microsoft Corp., Alphabet Inc., and Tesla Inc., alone added a whopping $3.5 trillion in 2021, while the NYSE FANG+ Index is up roughly 39% since last Thanksgiving.

While these numbers are spectacular, some say the valuations seem stretched. Tech stocks have not been as expensive due to the web bubble of the late 1990s and many traders remain cautious.

“Let’s be happy with the great returns we’ve seen in technology stocks and many other areas of the market this year, but let’s not forget that a slice of the humble pie will also be what we eat next year. months if we are too confident in our predictions to come back,” said Matt Carvalho, chief financial officer at Cardinal Level Wealth.

Tech Chart of the Day

High Tech Tales

  • India’s Paytm plunged for a second day after its IPO, marking one of the worst debuts for a serious-experienced firm
  • Prosus said analysts have valued its international e-commerce property portfolio at around $50 billion excluding stake in Tencent
  • JD.com Inc. and MSCI’s tracking of NetEase Inc. through its Hong Kong shares rather than US Depository Receipts may bolster a gradual shift in liquidity Outside the US for Chinese shares
  • Modern Amperex, a battery supplier to Tesla, recently reportedly came in to become China’s second-largest listed company
  • Activision Blizzard CEO said he would think about leaving if he can’t quickly fix traditional problems, Dow Jones reported
  • Ericsson will buy Vonage Holdings for $5.3 billion. because it strives to build market presence for cloud communications companies
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