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$400K NFTs: Kids Entered the Cryptoverse … Have You?

$400K NFTs: Kids Entered the Cryptoverse … Have You?

We’re sticking to our guns:

  • This is not a bear market.
  • AAPL is still a Death Star stock.
  • Cloud stocks are the blue chips of America 2.0.
  • Growth stocks are coming back STRONG.

Believe me, I know there’s a LOT going on in the markets right now. I’m at my computer at 3 a.m. some nights just trying to absorb everything.

But if you can peel through some of the negativity, you can see incredible things unfolding.

Take this: The crypto market is so hot and easy to use, a 12-year old kid just made $400K in two months by selling non-fungible tokens (NFTs).

NFTs are one of the most underrated sectors of crypto. To me, this demonstrates just how accessible and how high the demand is in the cryptoverse. For my full crypto take, click here.

And see if you’re on the same page as us with the America 2.0 market rebound, bitcoin, cannabis and Tesla in this week’s IanCast:

Paul Mampilly: Good afternoon, Ian.

Ian Dyer: Hey Paul. How’s it going?

Paul: It’s that time of the day and week and soon to be year. It’s IanCast time. How are you today?

Ian: Great. How are you?

Paul: I am doing good. We have an action-packed IanCast. Stock market, crypto, NFTs — I know that’s a subject near and dear to your heart. We had a comment last week asking why we didn’t discuss cannabis. We are going to have a discussion on cannabis.

 

A Catch Up On The Stock Market

Of course, Elon is always making news. Tesla Bot. We have to say something about Tesla Bot. But let’s start with the stock market because it does look like we are coming out of this growth stock correction.

I actually think one of the reasons for the growth stock correction was the reliance on the indices on six stocks. Two of them are essentially one company, but it’s six stocks. I put up these charts I sent to you on the reliance of the S&P 500, Nasdaq Composite and Nasdaq 100 on these six stocks.

This comes from Ed Yardeni Research. He calls them FAANGM.

FAANGMs Charts

They are Facebook, Amazon, Apple, Netflix, Google and Microsoft. We’ll put up this chart. The red line is these FAANGM stocks. The blue line is the non-FAANGM stocks. Chart 1 the red line is just how the FAANGM stocks themselves have performed.

The blue line is the S&P 500 minus that. In the second chart they have three lines. One is the FAANGM by themselves, the blue line is the S&P 500 including them and the green line is the S&P 500 without them. In other words, if you take out these five or six stocks the stock markets have done very little.

I am bringing this up because we have talked about how Apple represents a Death Star to small-cap stocks, our stocks, Fourth Industrial Revolution, America 2.0 and growth stocks, which today are largely not in that mega multi-trillion-dollar cap.

Looking at the performance like we did last week, here’s a chart from 2020.

SPY Chart 1

It’s amazing that ARK Invest — which we consider to be our benchmark — if you start your clock in 2020 it’s up 218%. The S&P is up 104%. The equal-weighted S&P is up 120%. That tells you small cap is starting to inch its way to being a performing.

Nasdaq Composite is up 121%, which is kind of telling you the same thing. Russell 2000 is up 125%. Then you can do the same thing for 2021.

SPY Chart 2

This year ARK Invest after the huge year last year is now down 3.5%. At one point it was down a lot more, as much as 20%.

At this point in time, S&P 500 is up 20%. S&P equal weighted somehow in 2021 is up 22%. Then the Nasdaq Composite is up 16% and the Russell 2000 is at 13%. Finally, the last chart before I let you talk.

ARKK Chart

It’s since the bottom of the growth correction which we are marking by the day ARK Invest bottomed out.

It was sometime in May. ARK Invest is now up 21% since the bottom. S&P 500 is up about 9%. Equal-weighted S&P is up 4.6%. Nasdaq Composite up 14% and Russell 2000 is up 2.5%. ARK Invest, to my knowledge, owns virtually none of those FAANGM stocks.

They owned Apple for a while, but I believe Cathie Wood dumped that somewhere earlier this year. Then you know the howls of protest we have gotten because we have stuck to our guns and said this is an interruption but it’s not a bear market. These stocks are going to come back.

They are going to come back strong. We are starting to see that.

Ian: We are for sure. It’s interesting with the equal-weighted S&P. Usually it does imply strength in growth stocks when you see it outperforming. This year has been different in that profits have been taken on growth stocks. People have been buying things like banks and commodities.

The whole reopening trade has gotten crazy. Those smaller stocks are not highly represented in the S&P 500. They’ll show up in the equal weighted way more and I think that’s what’s been carrying that. It’s impressive that Cathie Wood and ARK Invest are still up 200% since the beginning of 2020 even though we have had this dip.

It’s not like demand is suddenly just gone for these stocks. While it has been a rough correction, I do think strength is starting to come back in. Buyers are starting to come back. We are seeing that now in some of the smaller stocks that are down 70% or more from the high and are starting to get a bid now.

That’s a sign to me that strength is starting to come back. The cloud stocks, which are the blue chips of America 2.0, are starting to make 52-week highs again.

Paul: You said the magic word: banks. I wanted to instantly go on my rant about America 1.0 stocks. The destination is certain, which is zero. Only the timing is unknown. I will save it for another time. You can’t trigger me like that by saying “banks.”

Ian: I agree with you.

Paul: I think banks and Berkshire Hathaway are equal weighted in what to say to trigger me.

Ian: Understandable.

Paul: Maybe one episode we need to make our case for why we think banks are your best bet for zero.

Ian: Every time we bring up crypto and how great that is it’s saying the same thing in a different way.

Paul: If you want to make a near-certain bet for zero, I would bet on banks. I might bet on Wells Fargo. I don’t know which one you would bet on.

Ian: That’s up there. Wells Fargo seems to be getting into a mess more frequently than any other big bank. Citigroup is in there too though.

Paul: Nonetheless, we are getting off track. We’ll stick to the point and talk about the fact that starting late last week we started to see cloud stocks like ServiceNow, Zscaler, Workiva and extended into bigger stocks like Snowflake and Salesforce getting a bid.

There seems to be a solid — forget a floor or bottom, people are actively coming in to buy these stocks.

Ian: That’s a great sign. Cloud stocks took a hit along with the other America 2.0 sectors. They have rebounded well. It’s the first sector we’ve seen to make new highs during this rebound. You can see it flowing into some smaller stocks. That’s the picture of growth.

Paul: We have been waiting because the 52-week high list for us is a critical factor in the way we think about our stocks. We want to see our stocks being bid up high. From our perspective, we want to see stocks make 52-week highs because it shows there’s rising demand at rising prices.

It’s something you always talk about. There’s always — I forget your saying. Higher demand at high prices?

Ian: The law of demand at higher prices.

Paul: Yes, the law of demand at higher prices. In other words, that’s the best indication of confidence. That’s the best indication that people’s risk appetite is rising and they are backing it with real money.

 

Cloud Stocks Making A Break Out

Ian: Exactly. I think a lot of those cloud stocks were stuck in a range for at least a year. They were really strong coming out of the lockdowns and into the recovery. A lot of those surged hundreds of percent from that bottom in a couple months. Then a lot of them traded in a range and now they are breaking out.

One of the things to consider is that a lot of money is, I think, coming out of these bigger stocks or is going to. That is going to be the next thing that fuels America 2.0 stocks. I think people are starting to take profits on the bigger FAANGM stocks you mentioned before and putting it in cloud stocks.

I think those are the next leaders in terms of market cap. It used to be commodity-driven stocks like oil and things like that. Then it was tech like Microsoft, Apple and Amazon. Now I think it’s getting ready to come into that next phase, which is going to be cloud stocks.

Even though they are some of the top performers the past few years, I think there is a long way for them to go.

Paul: There’s a natural connection to cloud stocks and work from home stocks as they are now called. What are we on now? Zoom. A friend of mine called me and he is traveling. They have COVID. How are they going to access a doctor? It’s going to be Teladoc.

There’s a natural interplay between cloud stocks, which are the underpinning of so much work today.

Ian: It’s starting to get into everybody’s everyday life. Before it was on the backend where companies would use it for data analytics. Now it is starting to seep into everything we do.

Paul: I have already been on two Zoom calls today myself and this would be my third. The use of Zoom is pervasive. Right now with the Delta variant overwhelming some number of clinics and hospitals, if I am given a choice I am going to use Teladoc instead of going into a clinic.

Ian: That’s super useful to have. Patients that wouldn’t have otherwise been to be seen can call into a doctor.

Paul: What it does is create extraordinary capacity. Before you were constrained by the physical element. Today, you can expand it. One of the other stocks you and I were talking about is CrowdStrike. I want to bring that up because of the fact many people may be unsure as to how we go about doing what we do.

We are unusual and an anomaly. Other people go about it with company managements, again, I won’t go on a rant about that. Also pure fundamental research. We are heretics. We care about demand and supply for the stock itself. For us, it’s the stock price that generates any benefit.

I am going to get trolled immediately. “Paul, blah blah blah stock is down.” You can’t open your mouth today without defending yourself simultaneously. The ultimate benefit of any stock is that it needs to rise and generate a gain over time. Is there a benefit to having perfect fundamentals in a stock that does nothing?

Ian: I would say definitely not. That’s where people’s heads are spinning. These cloud stocks defy that mindset. They are not traditional in terms of fundamentals. They are not traditional in terms of the culture. It’s way more laid back. It’s a whole new way of doing business.

The kind of demand we are seeing in these stocks is different. They are going up to the point where people think it’s crazy and a bubble and they just continue to see that demand. I think these are the new kings of the stock market in terms of market cap.

I think they are going to take over and replace the companies that have been leading for a couple decades now. Anyway, about CrowdStrike, during this demand thing going on with cloud stocks, CrowdStrike was up 8% or 9% a couple days ago. There was strength in the sector but that one stuck out to us.

It turns out it was because the stock is being added to the Nasdaq 100. This is another thing that fools people. They see it in the headlines and it’s everywhere. They think, “This is free money. You can’t lose because it’s being added to the Nasdaq 100.”

But, what we think of this is the news is great for CrowdStrike, but is that going to create lasting demand? I would say no. The market is anticipatory in how it treats stocks. You can see there was strength in CrowdStrike and I think it was anticipated that it would happen.

That spike you see when the news is announced is usually a trap. You see demand and volume spike. It just happens to be right before the company reports earnings. Now everybody is in the stock. That also means there are fewer buyers for the stock after earnings.

I think that’s the kind of thing we would want to avoid. The fake breakout type of thing we saw with CrowdStrike.

Paul: As I say on the Profits Unlimited update, that’s a classic buy on the rumor, sell on the news setup. In other words, you might have bought into the rumor that CrowdStrike was going to be in Nasdaq 100, but once it’s on MarketWatch, Yahoo! Finance — I don’t even use any of these websites to get my information — it’s over as a trade.

After that, it’s going to take some time for all the betting that went on around this event to settle out. Then of course there’s options bets that happen around the event. It creates lots of up-and-down trading post that as demand and supply balance out.

Then later on regular buyers are scared off by big jumps. Many people think of the market and put their crazy hat on. It’s not different than any other buyer. If you see the price of something jump 30%, I can say the vast majority of people would sit back and wonder why the price jumped.

At least I would hesitate. At the very least I would buy very little of what I intended to. Or maybe I just stop buying and wait and see. Perhaps this is a temporary moment and I can get it cheaper. That’s demand and supply using very common sense terms and tactics.

Ian: That’s what we saw with CrowdStrike, but overall in cloud stocks it looks strong. Like I said before, we are starting to see that money flow into smaller stocks. While you might see some weakness when Apple and Microsoft are going down because if the indices are going down it causes panic selling in growth stocks too.

But I do think the money from these bigger stocks is absolutely going to come back in and fuel these America 2.0 stocks.

Paul: No question about it. The demand is there for these smaller market cap cloud stocks. We are starting to see demand for biotech as well. Then some of these big-name IPOs like Airbnb, Robinhood and others.

Ian: DoorDash.

Paul: DoorDash is another. They are all starting to see bids. The growth stock buyer is active.

Ian: The ones that were counted out — off the top of my head, Root is always the one that comes to mind. That one got crushed. Ever since it came public it’s a straight line down. I think those kinds of stocks are going to see demand as well.

Paul: I would take any bet in terms of owning Berkshire Hathaway companies that people love so much. We’re getting back into rant territory. We are BOP and we think the correction is not just over, but now we are starting to see bid-up mode. A lot of our stocks are on people’s shopping lists.

They have a lot of money and are willing to spend it. The market makers who have been feasting for six months on the carcasses of people who are willing to sell their stock at cheap prices, well, their moment has arrived as well. You are going to see big, steep markups.

Ian: I agree. I am ready for that to happen.

 

Opportunities with The Crypto Market

Paul: Let’s move to crypto. I know you have a huge love for NFTs. You knew I was going to bring this up. This is a story about a 12-year-old who is set to earn some serious cash.

$400,000 in about two months from selling NFTs. You are running Crypto Flash Trader. There are definitely coins you will put in there that are exposed to the NFT opportunity. Tell folks what you have been telling me about. The numbers in NFTs is mind blowing.

Ian: It was just a week ago that I started getting into NFTs. It’s quite the rabbit hole. I don’t even know how many hours I have spent looking at this in just a week. It’s interesting. The amount of money people are throwing around is insane to me.

I don’t know, maybe if I got into Bitcoin in 2010 I wouldn’t have a problem throwing six figures into some random picture. It’s such a different concept. The crypto market is about opportunity and quick gains more so than anything else I have seen before.

While that can be irresponsible, there’s no better place to do it than the crypto market. That’s what we are seeing in NFTs. It’s total discovery of a new market. When you have price discovery like that, things can tend to get crazy.

Compared to the whole crypto market in general, it’s tiny. That’s why I don’t think it’s a bubble at this point. Just from August the NFT market — and OpenSea is most of this, most NFTs are traded on OpenSea.io — the total volume is about $2 billion. That’s a lot for a month for just pictures and memes.

Compared to the rest of the things, the DEX volume — which is decentralized exchanges — is about $60 billion. Then we have futures volume for crypto which is about $1.4 trillion for the month of August so far.

When you consider how much money is being traded in the entire crypto market every day, it makes NFTs seem like the current prices aren’t that crazy. They can still have a long way to go. There are a lot of coins that have exposure to this. I just recommended one yesterday in Crypto Flash Trader.

Paul: Is that right? OK, I saw that trade but did not realize it was an NFT trade. I am learning something new here. Just to track back, NFT stands for non-fungible token.

The essence of it is that it puts a unique identifier that can be tracked on the Ethereum blockchain that makes it a unique identifier for a digital object. Is that a fair description?

Ian: Exactly. That’s what makes it a collectible. You have the rights to whatever object, picture or whatever it is. It’s confirmed on the blockchain. It’s unlike anything in real life. I guess the closest would be a receipt for something, but that is not connected to your bank account.

Whereas with this, you can see your address owns whatever it is. Long term, this is going to surpass these funny pictures and stuff. It’s going to be the new way of confirming ownership of anything.

Paul: I was just going to say exactly that. In other words, this is the path of showing all ownership in the future, whether it be a house, a car or book. I’ll fess up and say I actually own some digital land. People might think I am crazy. I also have bought — they aren’t rights to plots on Mars, but they are NFTs that are allocated to plots on Mars.

They convey no rights of ownership per se. Many people will scoff at us and think we are idiots and buffoons. I am willing to take it on. In the end, anything is only worth what someone is willing to pay for it.

Ian: The digital land thing I totally get. I have some too actually in a game called Sandbox. I have never played it but, hey, the land might be worth something some day. There’s another game called Treeverse, I think they just launched the alpha version.

The plots of land are already selling for $5,000 apiece. It’s kind of crazy because no one is able to play yet. If you were able to buy land in one of these games like League of Legends or World of Warcraft, that would be worth a lot. If you bought in when those games launched you would be sitting on a lot of money.

Paul: There is some precedent for this. I saw a news story saying an unwrapped copy of Zelda — those of you who don’t have kids or have never heard of Zelda, this is the most famous video game. Certainly it is to my kids. It went for something like $400,000 or $600,000.

An original copy of Zelda back then would have gone for $20 or $25.

Ian: There is definitely a market for these. It’s the collectibles world. If people paid attention to the collectibles universe, there are Pokémon cards that go for thousands or hundreds of dollars. There are baseball cards that go for millions of dollars.

If it was published on CNBC every day then people would think that was crazy too. I think it’s just the translation into the digital world where there are some people with serious money that they don’t mind spending on collectibles.

Paul: The reality is, people can justify spending $65 million or $100 million on paintings. Today, people spend hundreds of thousands of dollars on all kinds of things — sneakers, watches, bags. It’s just that world has expanded a great deal. People are willing to convey value and see objects as a store of value.

That’s NFTs. Will you commit to putting a CryptoPunk into Crypto Flash Trader?

Ian: I can’t say that’s a great idea. It might be, but I think the starting price is $200,000. Unfortunately, that’s out of my price range.

Paul: That might be out of the price range for most subscribers of Crypto Flash Trader. Nonetheless, the coins themselves go into a range regular folks can buy into.

Ian: Exactly. And I think those are going to do very well.

Paul: On to more serious matters. I put our third crypto into Profits Unlimited. It’s in the meme stock universe.

I don’t want to give it away because people will be annoyed at me. I know one of the critiques is going to be that it is not serious enough because it does not have utility. So let’s talk about some serious stuff with Bitcoin (BTC).

You sent me a chart talking about BTC being put on exchanges and taken out.

BTC All Exchanges

Tell folks what this chart says and why it has meaning.

Ian: This is something I check frequently for BTC because one of the most important things when you look at supply and demand is the number of BTC either going onto or coming off exchanges. The last week was kind of crazy. 33,000 BTC went on to exchanges, which to me says the supply is up.

There’s going to have to be some demand to match that when you have new supply on exchanges. I assume when I see that that people are putting it on the exchange because they want to sell it. A lot of times that’s the case. The opposite of that happened yesterday.

27,000 BTC were taken off exchanges. It’s weird that these happened so close together. I do think the demand is there to absorb some BTC going on exchanges. Of course when we see more coins coming off exchanges people are putting it in cold storage.

That takes some supply off the table. Overall, I do think it’s bullish with the whole supply demand balance right now. We were talking about earlier the whole thing where BTC got to $50,000. I’m not too surprised it’s selling a little bit. I don’t think it’s due to a change in supply or reduction in demand.

Sometimes around these big even numbers that a lot of people have as targets there can be some stagnation.

Paul: Our targets are not in jeopardy as a result of this. Let’s throw it out there. Hey, they’re outrageous. If we are right, we will take credit. If we are wrong, we’re going to get trolled to death.

Ian: That’s fine. Mine is $350,000 for BTC by the end of next June.

Paul: Mine is gutless in comparison: $250,000 in the same timeframe. I have to level up and get a better target. We are still bullish on BTC and crypto in general. BOP as we like to say. We will skip discussion of Ethereum so we can move this along.

You sent me a tweet which I want to share talking about how, even away from native crypto, people are trying to find any way they can into crypto. Morgan Stanley reported buying a ton of Grayscale Bitcoin Trust, 928,000 shares. That’s a lot of shares.

Ian: That’s more than $30 million. They have a decent size chunk of GBTC. It’s not too surprising to me. Considering all the bad mouth banks have given BTC over the years it’s ironic they have taken such a huge bet. That was just in one of their funds. They said they have GBTC in multiple funds.

More than $30 million in just one of them, they are definitely bullish on BTC no matter what they said in the headlines.

Paul: One of the questions we get regularly in Profits Unlimited and on the IanCast is, “What about that discount from GBTC to BTC?” What do you think of that?

Ian: I think that’s temporary. I am very confident that’s temporary. The reason I think that’s sticking around even though the lockup period is done, which means people who own BTC through Grayscale are not able to suddenly dump their shares on the market, I don’t think it will happen anyway.

I think with Grayscale trying to get GBTC made into an ETF instead of a trust, they are not able to accept new BTC. I think the sentiment around GBTC is just blah right now and not too many people are excited. When you have the discount people would rather buy the regular BTC.

Even though that’s counterintuitive because you can get the shares at a discount. It takes demand for something to come out of that situation. I think when Grayscale becomes more clear the ETF transition is around the corner and it comes more apparent they will be able to buy BTC again, I think it will be the thing that drives the discount back up and into a premium.

Paul: I think that the moment any ETF is approved there will be arbitrage happening between GBTC and that. It will automatically push GBTC back to par. For some number of people that will still be more liquid than an ETF. It could even drive additional demand that will push it into premium status.

At the previous peak it traded at a 100% premium, Ian.

Ian: Right. Grayscale is the biggest player in BTC. They have more than 3% of the supply of BTC. When they are able to buy again that’s not going to be bullish for just GBTC, it’s going to be bullish for BTC and all of crypto is going to benefit from that.

They are important to have as a buyer and it’s only going to boost things more.

Paul: We are going to end the crypto discussion here. BOP on BTC and crypto.

 

Do you invest in Cannabis?

We got a question last week as to why we didn’t cover cannabis and perhaps we were scared because MJ is going down and we were looking to hide from it.

Those are fighting words for us. We are proud of fronting up, whether it be for losses, complaints or critiques. We will even take some praise from time to time. If people could periodically fling some our way we will take it. I found something that will outrage a number of people.

It also shows how into the mainstream cannabis is entering.

Marijuana Usage Trend

This is a Gallup poll that says nearly half of all American adults have tried cannabis. Nearly as many Americans today say they smoke marijuana as they smoke cigarettes. That’s kind of amazing. That’s a level of consumer penetration that’s crazy.

Ian: This is the main thesis of why we would recommend to invest in it. It’s taking over the vice economies of tobacco and alcohol. It’s taking market share and there are trillions of dollars’ worth of market share on a global scale it has access to now.

We are seeing that unfold. We are not seeing the stock prices reflect that yet. As we seem to say every week, it’s only a matter of time. We are still bullish on pot stocks. I see all the merger and acquisition activity going on in this sector. We just had the biggest acquisition of all time with Tilray and Aphria.

It’s traded under the Tilray name now even though Aphria management is in charge. That to me was bullish. So far we haven’t seen it reflected in the prices. There have been others. Canopy Growth had a huge acquisition a couple months ago.

It hasn’t changed the fact that this is a rapidly growing industry. At some point the stocks will reflect that.

Paul: MJ, which is the ETF that we have come on and talked about for many years.

MJ Chart

It peaked at about $35 in February alongside growth stocks, meme stocks, low-priced stocks. It’s now at $15. I think this might be it in terms of lows because of what you said.

There are now fewer stocks than ever in the cannabis space. The average dollar going in has fewer stocks to bid. There’s scarcity there. It can automatically cause stocks to rise. Then there’s the usage and the growth.

I have other charts, which I don’t want to bring up today, showing the revenue growth. Whether it be Arizona, California, these things are a steep line up.

Ian: It seems like at least once a month I am seeing a new state that has all-time high revenue for the previous month. It’s definitely an industry in terms of consumer growth. There’s still also the fact it isn’t fully legal in dozens of states on a recreational level.

There’s still a ton of market to be captured. It’s crazy how much the stock price associated from the real-time growth of an industry.

Paul: It’s typical after a post-bubble moment where there’s lots of skepticism, negativity and doom and gloom. However, that’s when prices are cheap, folks. We will move on from cannabis. We are BOP on cannabis even though it’s been a struggle. We fully admit it.

We will address next week whatever questions we get as to how it’s terrible how many people are trying cannabis. We will leave that for next week. We know we will get that.

 

What Is Tesla’s Next Step In Technology?

Moving on to Tesla, which is another thing we often cover on the IanCast. Elon Musk on AI Day for Tesla announced that they are going to build a humanoid robot prototype by next year.

Elon Musk Quote

As Elon said, “It is intended to be friendly of course.” Although the “of course” might give you a little doubt.

It will navigate through a world of humans and eliminate dangerous, boring and repetitive tasks. Definitely for sure I would sign up in a heartbeat for a robot to make me coffee in the morning.

Ian: Why not? It’s convenient. As long as it’s friendly.

Paul: The Roomba does an OK job, but it’s super loud and kind of big. Imagine, there are a million things that you could use a robot for given Tesla’s understanding of AI. They are the leading company for AI in the world, the other one being Palantir Technology.

It’s different realms. Tesla in the realm of making a machine move, a car in this case. Palantir in more abstract logical reasoning AI. What do you think the ultimate impact will be?

Ian: It’s hard to say. It’s nice to have a vision for these things, but it’s a while before the prototype comes out. It’s still up in the air as to what it’s going to do. I’m sure it’s going to be great. It’s just that things can change during the process.

It would be nice to have an AI robot that can do tasks around the house. There would be demand for that as long as it’s affordable.

Paul: I can think of a lot of different small things. If you have kids you could use a few robots to chase after them. How many pets do you have, Ian? You could use a few robots to chase after them too.

Ian: We have six in the house. And a bunch more outside.

Paul: I think you might be in the prime category for this Tesla robot. The Tesla stock, let’s put this chart up, also peaked around February.

TSLA Chart

It saw a post-split price of about $900. It got down to about $540. It has been steadily moving up and down.

We call it buyness. It looks like there’s a regular buyer but they aren’t really willing to bid it that much higher. They are willing to buy in a range. We haven’t made an predictions for Tesla stock any time recently. Want to get one started?

Ian: I think I did do this. It’s been a while, probably a couple months. I did say $1,400 by the end of the year. I think it’s still possible if we see growth stocks and ARK stocks start to heat back up. I think $1,400 is possible. I will go farther out and say by the end of next year it will hit $2,000.

Paul: I am with you on that. By the end of 2022 Tesla will be at or approaching $2,000.

Ian, we have gone long. Hopefully it’s been productive. Maybe a little engaging. Maybe fun. If not, people have completely wasted 45 minutes. Nonetheless, this is the IanCast. You say goodbye and I will say goodbye next.

Ian: Everybody, thank you so much for watching. Have a great weekend, happy Friday. We will see you next week.

Paul: That’s right. Until then, this is Paul saying bye.

Regards,

Ian Dyer

Ian Dyer

Editor, Crypto Flash Trader

P.S.  Paul and I believe bitcoin will at least cross $250,000 in the next year. You can buy bitcoin and enjoy the ride, or find ways to do 2X, 5X and maybe even 10X better. The opportunity over the next year will be absolutely tremendous, but it will disappear in a flash if you don’t act. Watch this for the details.

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