Market Roundup: December 20 to December 24 2021

Merry Christmas! Catch up with the stocks making the biggest moves this week.
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3 min read
Candlestick Chart

Tesla Inc. ($TSLA)

The world’s most popular automotive EV and solar energy company gained double digit percentage points over the past week after CEO Elon Musk confirmed that he has finally sold the number of shares necessary to fulfil his tax obligations. The stock has seen its share price become incredibly volatile over the last month as Musk sold large holdings of the stock in chunks, causing the share price to drop considerably and then rebound within the few days thereafter. Tesla has surged 14.5% ($134.43) over the past week and currently trades at $1,067.00.

Shopify Inc. ($SHOP)

Shopify, one of the world’s e-commerce and marketplace giants, saw its shares climb higher this week because of strong sales and transactions leading up to the Christmas period. Shopify has been picked to be a stock that will see significant growth over the next few years by many analysts, including Linktorial, particularly as many high street retailers are struggling with the coronavirus pandemic. Many customers are flocking online to do their seasonal and non-seasonal shopping all year round and Shopify has been described as ‘The Future of Retail’ by many, such as Seeking Alpha. Shopify’s share price went up 8.7% ($115.93) over the past week, and trades at $1,439.33 per share as of writing.

BuzzFeed Inc. ($BZFD)

Digital media giant BuzzFeed has seen its stock price become very volatile since its IPO a few weeks ago, and its price went south further this week significantly as SPAC (Special Purchase Acquisition Companies) are becoming unfavourable to investors when securities float on the stock exchange. Further, the money that BuzzFeed expected to raise when it completed the SPAC merger had not met their targets. Unfortunately for BuzzFeed, the situation appears to not be recovering and the hype behind the stock is simply not there. Buzzfeed’s share price declined 10.5% ($0.65) in the week, and currently trades at $5.53 per share.

Riot Blockchain Inc. ($RIOT)

The blockbuster company behind one of the largest cryptocurrency blockchain mechanisms had its shares grow over the past week after the price and interest in cryptocurrencies also gained value. The company primarily focuses its efforts on mining Bitcoin and expanding their mining hash rate, with Bitcoin climbing 7% this week. Other cryptocurrencies also saw sizeable gains, and this company’s stock price is directly correlated with crypto interest. Shares of Riot Blockchain Inc. went north 10.5% ($2.43) this week and now trades at $25.67 per share.

Crocs Inc. ($CROX)

The shoe manufacturing giant Crocs’ share price took a considerable hit over the past week as investors frown upon their decision to purchase shoe brand ‘HEYDUDE’ for $2.5 billion. HEYDUDE will operate as a standalone division of Crocs after the acquisition. Crocs hope that HEYDUDE’s sizeable online presence will prove beneficial to the company. Shares of Crocs Inc. nosedived 9.25% ($12.59) over the course of the week, and now trades around $123.53.

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