Market Roundup: October 25 to October 29 2021

Catch up on all the stocks making the biggest moves this week.
2 min read
Candlestick Chart

Tesla Inc. ($TSLA)

For the third week consecutively, the automotive giant Tesla makes our market roundup list. This week has seen the biggest surges in Tesla’s share price for a long time, after its announcement of its partnership with rental car company Hertz, who are purchasing 100,000 Tesla vehicles for its fleet. For the first time since the stock split, Tesla shares breached the $1,000 threshold and the company reached another milestone – a market cap of $1 trillion. The stock started the week on $894, and closed on Friday at a price of $1,114.

Digital World Acquisition Corp. ($DWAC)

Shares of $DWAC have seen big moves after its enormous climb last week because of WallStreetBets. However, this week the meme stock has declined almost 20%, trading at $67.75. It is likely the stock will follow the same patterns as GameStop and AMC Entertainment, i.e. high volatility.

Lucid Group Inc. ($LCID)

Lucid Group’s shares has seen a spike in their value this week, surging 37%, and closed Friday at $36.99. Lucid Group’s focus is on the production of electric vehicles, in particular luxury cars. It also makes energy storage systems – making it a direct competitor of Tesla. The stock surged this week after Saudi Arabia’s Standards and Metrology Authority approved Lucid to start producing vehicles in their country by 2024.

SOS Ltd. ($SOS)

Shares of SOS has seen a sharpish dip this week, declining almost 9% and trades at $2.25. SOS is a company concerned with developing software and cloud technology in China, with a particular emphasis on emergency rescue services.

Galaxy Digital Holdings Ltd (GLXY-CA)

Galaxy Digital Holdings, an asset management company dealing with blockchain technology and cryptoassets, saw its shares pop $8.55 this week. Cryptocurrencies such as Bitcoin has seen a revival over the past few weeks, reaching a new all-time high. The company is expected to report its Q3 results on November 15.

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