Investors rushed to buy shares of Tesla Inc. (Nasdaq: TSLA) last week.
They drove the stock price past $700 … $800 … $900 … before sending it close to the $1,000 mark.
Tesla’s Historic Rally
It was a classic mania.
In today’s Market Insights, I discuss Tesla’s historic rise with my colleague Ian King.
To watch our 15-minute video now, simply click on the video below:
Tesla is bringing in a new type of investor.
Many people who don’t really pay attention to the stock market jumped at the chance last week to participate in Tesla’s rally.
In fact, if you Googled “Should I…” last week, the first result was: “Should I buy Tesla stock?”
These retail investors left reality and only bought Tesla shares because of the hype.
However, there are some really good reasons to own Tesla’s stock right now — one of which is the success of Tesla’s Model 3.
Bitcoin is close to reaching the $10,000 mark.
The cryptocurrency had been on a downward trend since its price soared past $12,000 last year.
But recent gains show that bitcoin’s back on track.
Bitcoin Closes in on $10,000
And now, there’s good news about bitcoin from one of the most unlikely places.
The S&P 500 Index made a new all-time high as fears over the coronavirus outbreak largely subsided.
China’s central bank announced it would spend 1.2 trillion yuan (about $170 billion) to help China’s economy recover from the effects of the virus.
That sent the major U.S. stock indexes, including the S&P 500, soaring to all-time highs.
China’s Stimulus Sends the S&P 500 Soaring
In today’s Market Insights, Ian and I talk about what’s next for the stock market.
Best of Good Buys,
Editor, Total Wealth Insider
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