. . World News – UK – Bitcoin hits 2-week high above $ 19. 7K

The leading cryptocurrency by market value reached up to 19 during European trading hours. 874 USD. That is the highest level since December. 1, when Bitcoin hit its all-time high of 19, according to CoinDesk 20 data. Reached $ 920.

It remains to be seen whether Bitcoin will be over 19. Can hold 500 USD. The cryptocurrency has failed several times since November to gain a foothold above that level. 22, courtesy of some investors’ profit-taking. The eagerly awaited breakout over the psychological barrier of 20. Forcing out of $ 000 could be a tough task for the bulls in the short term with big sell orders still on 20. $ 000 is on the way, as discussed Tuesday.

That said, the long-term bullish case for Bitcoin, a widely touted hedge against the devaluation of fiat currencies and a supply of goods, continues to strengthen, with observers suggesting a deeper decline in the dollar in 2021 and rising global inventory levels Negative forecast. Bonds yield.

According to efxdata, the French multinational investment bank and the financial services company Societe Generale are now forecasting a decline in the Dollar Index (DXY) of 5% in 2021 and further losses in the following year. com. Other well-known investment banks like Morgan Stanley, Goldman Sachs and JPMorgan also expect the greenback to continue to lose ground over the next year.

The dollar index, which shows the value of the greenback against the major currencies, is at a 32-month low of 90. 20 at the time of going to press. The global reserve currency is down 6. 5% this year, largely due to the Federal Reserve’s policy of increasing the money supply, which aims to counter the coronavirus-induced economic slowdown.

Bitcoin has consistently moved in the opposite direction to the dollar index this year. Prominent publicly traded companies like business intelligence firm MicroStrategy have used Bitcoin as a reserve asset to protect against the falling dollar.

« We’re trying to preserve our treasury. The purchasing power of cash is declining rapidly, ”Michael Saylor, CEO of MicroStrategy on Nasdaq, told CoinDesk last month, explaining the reasons for the company’s Bitcoin purchases. The cryptocurrency is a better store of value than gold, he said.

In 2020 some well-known tech names decided to go public despite the COVID-19 disruptions. One such company is data analytics provider Palantir Technologies, which began trading on the NYSE in September via a direct listing rather than the traditional IPO route. Palantir was founded in 2003 and has been in the news due to some controversial contracts with government agencies. We’ll be using the TipRanks stock comparison tool to compare Palantir with another software as a service (SaaS) inventory, Verint Systems, and pick the one that offers better returns. Palantir Technologies (PLTR) Palantir provides data analysis software and services to public and private organizations with complex and sensitive data environments. More than half of the company’s revenue comes from government contracts. Critics often draw attention to some of the company’s controversial contracts, such as the persecution of undocumented immigrants who have sparked protests by social and political activists. Still, the US government sector remains a major focus for Palantir. In the third quarter, the company received a $ 91 million contract from the U.S. Army and a $ 36 million contract from the National Institutes of Health (NIH). . Earlier this month, the company received $ 44. 4 million three year contract with the US FDA. Palantir stock has skyrocketed 161% since early November, with the company’s stellar third-quarter revenue growth being one of the reasons for the surge. Third quarter sales increased 52% year over year to 289 million. USD. However, the net loss increased significantly in the third quarter due to stock-based compensation expenses related to the company’s direct listing. Palantir continues to see its outlook in both government and commercial sectors positive, seeing sales growth of more than 30% in 2021. Earlier this month, Morgan Stanley downgraded its Palantir rating from Hold to Sell with a price target of $ 17 (previous target was $ 15). This was the investment firm’s second downgrade in less than a month. (See PLTR stock analysis on TipRanks) 5-star analyst Keith Weiss, who wrote for Morgan Stanley, pointed to the staggering surge in the stock since it listed shares. The analyst said the company’s valuation is more than double that of the average SaaS stock. Weiss also noted that Palantir’s strong third quarter results highlighted continued momentum in the government industry, accelerated growth in corporate business, and posted margins in excess of 25%, a slight fundamental « increase » from original expectations. Nonetheless, he stated, “We believe earnings have increased significantly since Q3 20 (stocks 75% over the past 2 years). 5 weeks) is likely related to factors outside of fundamentals, including strong retail long interest pushing strong institutional short interest. “The Street is trading on Palantir with the hold analyst consensus based on 1 buy, 4 hold and 1 sell. Given the recent spike, the average price target is $ 13. 83 indicates a possible disadvantage of 47. 7% in the coming year. Verint Systems (VRNT) Verint provides customer and enterprise customer loyalty, data mining and intelligence solutions. Last December, the company announced its intention to split into two independent, publicly traded companies, one in the loyalty solutions business and the other in the cyber intelligence solutions segment. The spin-off of the Cyber ​​Intelligence business is expected to be completed after the end of the current financial year (end of January 2021). . The company has a customer base of over 10. 000 organizations in over 180 countries and government agencies worldwide. Verint’s local business has been hit hard in recent months due to the impact of the COVID-19 pandemic. Last week, Verint saw an improvement in the third quarter. Sales increased 1% to 328 million. USD due to the strength of cloud solutions and the recovery in local sales. Adjusted EPS increased by 8. 5% on $ 1. 02. After the release of the results for the third quarter, Needham analyst Ryan MacDonald reiterated a buy rating for Verint and raised the price target from 64 to 66 US dollars, as “confidence in the growth and profitability of each business unit has increased after the split. MacDonald noted that the company’s Customer Engagement and Cyber ​​Intelligence businesses showed signs of recovery in the third quarter. He said, “In CE, Verint has seen strong momentum in the cloud business. In CI, strong execution resulted in healthy gross margin expansion. « (See VRNT stock analysis on TipRanks) » The separation of the two businesses remains on track after FY21 closes, and management offered a 3 year framework for revenue growth in each business which is 30% for CE Cloud and 10% is% growth for CI. When we combine this with anticipation of post-split synergies, we are confident that Verint can see accelerated growth and margin expansion, ”MacDonald concluded. Looking ahead, Verint expects rapid digital transformation, cloud migration, and automation. Cloud revenue growth is expected to accelerate to around 30% over the next year thanks to heavy software bookings and SaaS conversions. The software recurring revenue percentage is also expected to increase to 85%, up 500 basis points from last year. For now, the rest of the road is bullish on Verint too, as analysts have strong buy consensus. The average price target is $ 69, which reflects an upside of 14. 5% in the coming months. Stocks are up 8. 9% since the beginning of the year. Conclusion While Palantir is winning some big deals in both government and private markets, the stock’s valuation looks quite high right now, especially given the company is not yet profitable. With 4 unanimous purchases and upside potential in the coming months, Verint stock looks like a better choice than Palantir. To find great ideas for trading stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

At least one Tesla analyst says the company’s high share price should drop to $ 60-80 per share.

One of the most difficult aspects of managing money in recent years has been the extraordinarily low yields on government bonds, which are zero and even negative when you consider inflation. Given that bonds make up a large percentage of traditional retirement investor portfolios, the lack of that stable income hurts. Retirees typically have broad income diversification beyond government debt, including high yield debt, emerging market bonds, investment grade corporate bonds, and government inflation-linked bonds (TIPS). .

Before you change your annual limit of 6. Deposit $ 000 into a Roth Individual Retirement Account for 2020, pause for a second and look at some new data from Boston College. New research from the BC Center for Retirement Research found that most of us don’t pay a lot of income tax after we retire. With the IRS, each of us can have up to 6. Save $ 000 a year in a tax-protected individual retirement account (as always with the IRS, there are some startling little complications and caveats). .

Every week Benzinga conducts a sentiment survey to find out what traders are most excited about, what interests them or what they think about when managing and building their personal portfolios. We asked a group of over 300 investors whether Apple Inc.. . (NASDAQ: AAPL) will reach $ 200 by 2022. Apple Stock Forecast Apple develops a wide variety of consumer electronics devices, including iPhone smartphones, iPad tablets, Mac computers, and Apple Watch smartwatches. As of 2020, the iPhone will make up the majority of Apple’s total sales. In addition, Apple offers its customers a variety of entertainment and payment services such as Apple Music, iCloud, Apple TV, Apple Card and Apple Pay. The company generates around 40% of its sales in North and South America, the rest is earned internationally. See Also: Top 10 Blue Chip Stocks At the time of writing, Apple is trading at $ 127. 88 and 78% of Benzinga dealers and investors respectively said Apple will hit $ 200 per share by the end of next year. Traders and investors who participated in our study said Apple’s shares will fuel increased consumer electronics demand after the pandemic, diversification of revenue streams through subscription services like Apple TV and Apple Arcade, and critical recognition for the new M1 and M2 computer chips. This survey was conducted by Benzinga in December 2020 and included responses from a diverse population of adults aged 18 and over. Participation in the survey was entirely voluntary, with no incentives to potential respondents. The study reflects results from over 300 adults. See More From Benzinga * Click Here For Benzinga Option Deals * Will Micron or Intel’s Stocks Grow More By 2025? * Will Apple or Google shares grow faster by 2025? (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

(Bloomberg) – A Vanguard Group equity fund is the first of its kind to dwarf $ 1 trillion in assets. This is evidence of the rise in index-based investing over the past three decades. The Vanguard Total Stock Market Index Fund, which includes both a mutual fund and an exchange-traded fund, was $ 1. 04 trillion assets as of Nov. . 30, show company data. « Given that Vanguard has launched index investments, it seems only fitting that one of their flagship funds should be the first to reach this historic mark, » said Nate Geraci, president of the ETF Store, an investment advisory firm. During the ascent U. . S.. . Stocks fuel the fund and are backed by falling fees, a trend sparked by Vanguard, a pioneer in low-cost passive investing. The Vanguard Total Stock Market Index Fund was founded in 1992, the corresponding ETF followed in 2001. « Investors are much better informed about the importance of fund fees and the serial underperformance of active management, » said Geraci. Those factors could keep the fund moving for decades, he said. Read More: The Unsung Art of Managing the First (Nearly) Trillion Dollar Fund Vanguard follows an unusual format, with its ETFs existing as a share class of its mutual funds. The Vanguard Total Stock Market ETF attracted the most money of all ETFs this year at $ 30. 8 billion net inflows. Vanguard, the top ETF inflow issuer this year, controls 28% of the $ 5. 3 trillion u. . S.. . ETF industry. For more articles like this, please visit us on Bloomberg. comSubscribe now to stay one step ahead with the most trusted business news source. © 2020 Bloomberg L. . P. .

Jim Cramer shares insight into Boeing’s inspection of the 787 Dreamliner and the purchase of Estee Lauder and Apple shares.

ContextLogic, the parent company of ecommerce retailer Wish, raised $ 1. 1 billion by pricing 46 million shares at $ 24, the high end of its range. The Wish IPO is set to begin trading on Wednesday.

The work of the past decade to democratize Artificial Intelligence (AI) for businesses is promising, and through its early partnerships and customer success, there is evidence that it could lead to significant and stable growth. The company is led by CEO Tom Siebel, who held the same position at Siebel Systems that was acquired by Oracle (ORCL) in 2006. The 68-year-old billionaire founded the company in 2009.

In a report on the alternative fuels market, National Bank of Canada’s analyst Rupert Merer examines the possibilities and possibilities of hydrogen as both an energy resource and a raw material. At the heart of the matter, he writes, “Energy market stakeholders agree that climate change is a problem and decarbonizing our energy mix requires a multi-faceted approach that includes H2. It is estimated that H2 could meet 15% to 25% of the world’s energy needs … ”Merer adds that H2 can reduce emissions in sectors where decarbonization is otherwise a challenge, such as the automotive industry. B.. Freight logistics, collective transport and industrial heating. What is hydrogen and why is it important? Hydrogen is the abundant element in the observable universe and a common building block in complex organic molecules. It’s found in both wood and petroleum derivatives – there’s a reason they are commonly referred to as hydrocarbons – and, along with oxygen, is part of the common water molecule. Life as we know it would not be possible without hydrogen. With that in mind, we used the TipRanks database to identify three stocks that some of Wall Street’s top analysts have used to make profits in the growing hydrogen environment. Ballard Power Systems (BLDP) First on the list is Ballard Power Systems, a hydrogen fuel cell manufacturer based in British Columbia, Canada. The company is focused on proton exchange membrane technology, one of several competing technologies in the hydrogen fuel cell market. Ballard’s PEM fuel cells are sold worldwide. To date, the company has manufactured and shipped fuel cell products valued at over 400 MW. Ballard’s fuel cells are used in traffic engineering to enable fully electric buses, commercial vehicles, trains and forklifts. Like many manufacturers who depend on the transportation sector, this has been a tough year for Ballard. The disruptions caused by the corona virus hit the company in two directions: First, the usual pollution in the supply and distribution chain – but Ballard also markets its products to commercial users who have been blocked due to the corona itself. In short, Ballard saw a drop in sales in the first half of 2020 that has not yet recovered. Third quarter revenue was $ 25. 6 million, corresponding to the first and second quarters of the year. However, Ballard’s stock price has risen and grown throughout the year despite some short-term periods of volatility. Overall, stocks have grown 170% since the start of the year. The profits show the seal of approval for hydrogen in a market that is actively looking for renewable, greener and zero-emission energy sources. Hydrogen checks all three boxes. 5-star analyst Craig Irwin, who covers Ballard for Roth Capital, sees the company in a solid position for rapid future growth. “BLDP has the third quarter of 20 with 361 million. USD in cash and without debt and with only 100 million. USD up to 120 million. USD capital terminated to generate positive profits. It was clear to Mgmt that it intended to more actively evaluate M&A goals across the H2 and FC value chain [. . . ] We remain optimistic about the LT increase in revenue supported by China FC’s new subsidy program and would be buyers whatever the weakness, « said Irwin. To that end, Irwin is pricing BLDP with a buy and its $ 25 price target implies room for 29% growth in 2021. (To see Irwin’s track record, click here. ) Wall Street broadly agrees with this analysis. In the past few months, BLDP has received 3 buy ratings and 1 hold from street analysts. With an average target price of $ 24 per share, the potential uptrend is ~ 24%. (See BLDP stock analysis on TipRanks. ) Air Products and Chemicals (APD) Air products and chemicals are primarily known as suppliers of industrial gases – which makes them a natural product for the hydrogen industry. In its pure form, hydrogen is gaseous under “normal” conditions. APD took advantage of this natural fit earlier this year and commissioned the acquisition of 5 hydrogen production facilities worth 530 million. USD. In addition to the new systems, APD also sealed its position as an important hydrogen supplier for PBF Energy. APD’s acquisitions show that becoming a long-term supplier to the hydrogen industry is serious. APD is already a major supplier to hydrogen refineries, supplying a pure gas that can be used as in transportation fuel technology. In the final quarter of the fourth quarter of 20, APD missed profit targets but exceeded sales forecasts. The FQ4 top line hit $ 2. 32 billion, up 2% over the previous year and 2% over estimates. Argus analyst Bill Selesky valued APD’s overall position in the marketplace, noting, “Despite the poor results in the fourth quarter of FY20 due to the pandemic, we believe performance will gradually improve. We also believe APD is very well positioned over this period due to its stable cash flow, below average debt and investment grade credit rating. Selesky gives APD shares a price target of $ 360, indicating 33% growth, and maintains a buy rating on the stock. (To see Selesky’s track record, click here. ) Air Products has 11 recent ratings, breaking down 10 to 1 in Buys and Holds, giving the stock a consensus rating for analysts with strong buy. The average target price is USD 311. 10, indicating a potential 15% increase over current levels. (See APD stock analysis on TipRanks) BP PLC (BP) Last but not least is BP, the petroleum giant. This company has a reputation in the industry for leading the transition to non-petroleum renewable energy sources and has a history of initiatives in wind, solar and hydrogen energy. Last year the company joined the Global Hydrogen Council. As a major player in the natural gas market, BP is well positioned to also become a supplier of “blue” hydrogen or H2 from natural gas sources. BP is also carrying out a project at its refinery in Lingen in northwest Germany to convert the plant to the production of hydrogen from water. The project works with Orsted and when it goes fully online in 2024 it will be able to produce up to a ton of clean hydrogen per hour. Taking a leadership role in the renewable energy market is one way BP consolidates its future position. The hydrocarbon industry won’t last forever, and 2020 was a particularly difficult year. Stocks are down 36% year-to-date, and quarterly sales are of $ 74 billion. USD 44 billion in the first quarter. USD down in the third quarter. In the third quarter, however, the company posted net income of $ 100 million after heavy losses in the second quarter. Sam Margolin, 5-star analyst at Wolfe Research, wrote after the quarterly report on BP: « Our instinct is that the underlying O&G story has a greater impact on short-term stock performance, although Lingen’s announcement is positive for BP. as it reflects the company’s ability to work with industry leaders to advance the net zero plan. Margolin is bullish on BP, and his stance comes with outperformance (i. e. Buy) Rating. His target price of USD 31 implies an upward movement of 41% in the coming year. (To see Margolin’s track record, click here. Overall, BP has a moderate buy rating from analyst consensus based on 6 ratings that include 4 buys and 2 holds. The shares sell for $ 21. 94 and the average target price of $ 29. 80 suggests room for 36% upside potential over the next 12 months. (See BP stock analysis on TipRanks. ) To find great ideas for trading hydrogen stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

The Vice Chairman of Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B), Charlie Munger, pointed out the current market frenzy at a virtual event hosted by the California Institute of Technology. « What Happened: Munger said too many people are caught up in the frenzy of investment activity. He doesn’t like everyone getting drawn into finances and getting rich by outwitting the rest of the world with marketable stocks. Munger expects market returns over the next 10 years to be lower than in the last 10 years. « The frenzy is so big and the management systems, the reward systems, are so stupid, » he added. Munger also warned of aggressive monetary easing measures. « We are in very unknown waters. Nobody has been able to get along without problems with the way the money is printed for a long period of time, « he said. Warren Buffet’s aide believes the market is « on the verge of playing with fire ». « Munger added that loose monetary policy would have inflationary effects. « I can remember when I was a little boy having a five-course filet mignon dinner in Omaha for 60 cents. The world has really changed, « he quipped. Munger called technology « a killer and an opportunity. Commenting on recent growth in the value of tech companies, Munger said he has never seen anything like it. Munger compared Apple Inc (NASDAQ: AAPL) to John D Rockefeller’s empire. « It was the most dramatic thing that has ever happened in the entire financial history of the world. « On the one hand, technology changes affect businesses; on the other, Berkshire owns the Burlington Northern Railroad. Munger said the railroad is the most old-fashioned business he can think of and that it has been successful « not by conquering change, but by avoiding it. « . « Munger also praised venture capital firm Sequoia Capital’s record for making the right technology investment. He said Sequoia made more money than anyone else. See More From Benzinga * Click Here For Benzinga Option Deals * Asia Slips, Europe Mixed On Tighter Curbs, Looming Lockdown Fears * Google Kills Its Google Home Max Smart Speaker Line (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

Stocks of General Electric Co. . rebounded toward its first gain in four trading days on Tuesday after two Wall Street analysts raised their price targets by more than 40%, both on the upbeat outlook for 2021.

(Bloomberg) – It was a shocking and seemingly unlikely figure. Eight months after the pandemic – and the brutal economic collapse that came with it – the California budget watcher said the state was poised to turn in around $ 26 billion in profit. Just as New York and Connecticut announced weeks earlier, tax revenue rose to a level no one expected, thanks in part to the booming stock market. And so it has happened across the country for the most part this year, albeit to a lesser extent in many of the less affluent states. The fiscal apocalypse, which is expected to blow massive holes in national budgets, has not yet occurred – at least not yet. This, in turn, fuels the argument by some Republicans that additional federal aid to states and communities can wait until next year instead of being dealt with in the aid package currently hotly debated in Washington. Leaders on both sides of Congress are close to reaching an agreement on less than $ 900 billion in Covid relief, including direct stimulus payments, with no state and local aid, according to two people familiar with negotiations. This relief was one of the most important sticking points. “In a way, U. . S.. . Taxpayers have saved some money by delaying the stimulus package so they can really see what the revenues are, ”said Jennifer Johnston, research director for Franklin Templeton Fixed Income’s municipal bond team. There are a few major caveats about this somewhat rosy picture, to be clear. For one thing, many states and cities are still faced with large deficits, just not as large as originally forecast. Plus, the surge in Covid-19 cases could lead to more economic shutdowns and potentially reverse the looming recovery local governments have seen so far. Most of California is back in the order they stay home, and New York could be headed for one. And because of the delay in collecting taxes, states have historically faced large deficits long after the recession has ended. However, the financial outlook has improved significantly in recent months. In the spring, the Congress Democrats asked for $ 1 trillion for states and communities. At the time, states were expected to report budget deficits totaling $ 650 billion by fiscal year 2022. According to the Center for Budget and Policy Priorities, that number is currently projected to around $ 400 billion. And the Democrats recently pushed for just $ 160 billion as a first step. The muni-bond market, which is supported by the lowest key interest rates, also shows that investors are not worried about an impending financial crisis. States like Pennsylvania, Michigan, and California can borrow at rates well below 1% every 10 years, a historically low threshold. Even a benchmark for near junk debt in Illinois only gives 2. 76%, around the level that two years ago was only reserved for the highest-rated borrowers. California is a prime example of the turnaround in financial accounts. A two-year gap of $ 54 billion was closed in May. The company expects to run into a $ 5 billion deficit next year after turning in $ 26 billion in profit from generating more tax revenue and spending less than expected. New York City, once the epicenter of the coronavirus crisis, posted $ 985 million more than forecast in sales in the first four months of its fiscal year thanks to a banner year on Wall Street. The surprise underscores the disproportionate impact of the outbreak and deal closure. Lower-income workers for industries like restaurants are losing their jobs, while wealthier people work from home, buying goods online and selling stocks – all of which generate the income states rely on to offset their books. Stock markets have done well – both due to the Federal Reserve’s rate cuts and the prospect of economic recovery in 2021 – and IPOs have shaped a new class of wealthy Americans, giving states like New York and California a boost that is progressive are tax systems. In California, where nearly half of its personal income tax revenues come from the top 1% of the workforce, three former Stanford University students were included in the IPO of their San Francisco-based grocery company DoorDash Inc. Billionaires. « For those fortunate enough to maintain jobs and income during this pandemic, their financial situation is better than before, » UCLA Anderson economists said in a December report. “These households were able to accumulate at least an additional US $ 1. 6 trillion savings. Internet sales, and many continued to spend. With states allowed to tax internet sales by businesses outside their borders, local governments have benefited from people shopping at home. Texas, which has its largest source of income from sales taxes, has seen the largest gains against the US dollar in the past 12 months. 25 billion collections from online retailers, Comptroller Glenn Hegar said last month. In California, which has some of the most comprehensive corporate Covid restrictions in the country, sales tax revenues are roughly the same as last year. Regions have had different experiences due to different public health restrictions, and some are only now feeling the pain, said Irma Esparza Diggs, director of the National League of Cities federal agency. « This pandemic has not hit our state and our local governments in the same way at all times. That was the difficulty in conveying to Congress how much we are losing, « she said. The group released a survey in December that found that cities’ income has declined by an average of 21% since the pandemic began, while additional expenses such as protective gear increased 17% over the same period. Chicago closed a $ 800 million gap in its 2020 budget caused by Covid-19 and an even larger $ 1 million. 2 billion holes in 2021, 65% of which are related to the pandemic. The virus has decimated the finances of the transit agencies. New York’s Metropolitan Transportation Authority, the country’s largest mass transit system, said it must cut subways and buses by 40% and cut mass transit in half if help does not come from Washington. And some states have had to take unusual measures to balance their books. New Jersey sold $ 3 last month. 7 billion general bonds to cover loss of earnings. Illinois has taken advantage of the Federal Reserve’s emergency loan program. « While the prospects for a vaccine are promising, it will take at least a year or two for things to get back to normal, » said Lucy Dadayan, a senior research fellow at the Urban-Brookings Tax Policy Center. (Updates on the status of the Congressional Negotiations in the fourth paragraph) You can find more articles like this on bloomberg. comSubscribe now to stay one step ahead with the most trusted business news source. © 2020 Bloomberg L. . P. .

Tesla Inc (NASDAQ: TSLA) and its CEO Elon Musk could affect the fate of markets in 2021, Deutsche Bank strategist Jim Reid said in a statement Tuesday, as reported by MarketWatch. What Happened: The Analyst Called Tesla « The Most Notable Market Story » Of A « Notable 2020 ». « Given their colossal size and that of the tech sector, their paths are likely to be a big macro-driver of markets in 2021, » Reid wrote, according to MarketWatch. « Investors of all asset classes may need to judge whether valuations are justified and sustainable. « Tesla stock is up 657% since the start of the year. The automaker is slated to be included in the S&P 500 index, which won 14. 36% in the same period. Why It Matters: Reid noted the rise in Tesla’s rating in 2020, saying, « is now bigger than the next five largest global auto companies combined. « See also: Tesla’s rating is higher than almost all of the mainstream auto industry Tesla’s dizzying rating has divided analysts. While some have pointed to possible headwinds, others see a possible uptrend for the stock. On Tuesday, GLJ Research’s Gordon Johnson said the automaker’s shares could fall to $ 60 next year as he drew a parallel with cannabis stock Tilray Inc (NASDAQ: TLRY). . Price action: Tesla stock closed nearly 1% lower at $ 633. 25 on Tuesday and fell 0. 92% in the meeting after business hours. Click here to see the latest EV news on Benzinga’s EV Hub. Latest Reviews for TSLA DateFirmActionFromTo Dec 2020JefferiesDowngradesBuyHold Dec 2020New StreetDowngradesBuyNeutral Dec 2020JP MorganMaintainsUnderweight View More Analyst Reviews for TSLA See Latest Analyst ReviewsSee More From Benzinga * May Tesla Fate In 2021 * May Tesla Fate Strong of the S&P recording be permanent? Analysts are divided (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

Millions of doses of the COVID-19 vaccine from Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) are being administered in China along with homemade options, Bloomberg reported Tuesday. What happened: The local pharmaceutical company Shanghai Fosun Pharmaceutical (Group) Co, Ltd (OTC: SFOSF), which signed an agreement with BioNTech in March, is paying the German company $ 300 million (€ 250 million) for the first 50 million Bloomberg cans. Pfizer’s German partner will deliver no fewer than 100 million cans to China by 2021, according to Bloomberg, Fosun told the Hong Kong Stock Exchange. China National Biotec Group Co and Sinovac Biotech Ltd COVID-19 vaccines are reportedly nearing approval by drug regulators in China and Jan.. 6 billion cans are expected to be produced in 2021. Why It Matters: With Chinese vaccines requiring two doses and President Xi Jinping also declaring the country’s commitment to providing successful vaccines to developing countries, there is a need for additional vaccines, according to Bloomberg. AstraZeneca plc (NYSE: AZN) and its local partner will also reportedly supply the vaccine for the East Asian country. Pfizer is not involved in the deal with China, despite being a co-developer of the vaccine, according to Reuters. The New York-based drug maker announced this month to the US that it would not be able to provide additional doses until June because other countries had already secured supplies, the Washington Post reported. Price action: Pfizer shares closed almost 1. 3% lower at $ 38. 71 on Tuesday and fell 0. 52% in the meeting after business hours. On the same day the BioNTech share closed almost 2. 7% higher at $ 111. 20 and rose 0. 85% in the meeting after business hours. Fosun OTC shares closed 0. 21% lower at $ 4. 74. See Also: Pfizer-BioNTech Receives FDA Nod For Emergency Coronavirus Vaccine Use; Deliveries Start ImmediatelySee More From Benzinga * Click here to learn about Benzinga options trading. * According to Pfizer, Modernas will receive COVID-19 vaccine data that will be accessed during cyberattacks. com. Benzinga does not offer investment advice. All rights reserved.

Tesla Inc (NASDAQ: TSLA) shares could fall to $ 60, GLJ Research’s Gordon Johnson said in an interview with Yahoo Finance on Tuesday. What Happened: Johnson put the fair value for Tesla at around $ 60 to $ 80. « We think it will go there. We think it will happen next year. « Shares in the Elon Musk-led company may have risen 657% year-to-date but announced the automaker’s inclusion in the S&P500 in December. 21 the upward movement according to Johnson can come to a standstill. The analyst also pointed to other factors, such as the loss of government-backed EV loans from competing automakers and the decline in market share in China and Europe as negatives. Backing up his thesis with examples from the past, Johnson equated Tesla with cannabis company Tilray Inc (NASDAQ: TLRY), whose shares hit $ 150 in 2018 but were priced at $ 7 at press time. 87. See also: Aphria, Tilray In Conversations to Merge: Report « You’ve seen this before. I know it sounds crazy, look at Tilray, look at SunEdison, look at Suntech, some of those stocks went from $ 5 to $ 300 back to $ 5. They went back to zero from $ 2 to $ 300, « Johnson told Yahoo Finance. The analyst claimed Tesla was a « prime candidate » for a similar price move. Why It Matters: Johnson said Tesla is facing demand issues, pointing out that the company is offering free top-ups and price cuts on its German inventory as indicators that the automaker is trying to « push the demand ». « Johnson said the sales increase in China was made possible by an 8% price cut in early October. « The problem, however, is that the technology switch made the price cut possible, » said Johnson. « [Lithium ferrophosphate] batteries, which are now widely reported in China to only reach 50% range in winter. « The analyst asked if Tesla would be able to resell that amount of cars in China now that people are seeing the range » is only half of what is promised. « See also: After Tesla’s price slump in China, competitors are struggling to maintain Tesla’s staggering valuation. The company’s shares rose 783% in 12 months. Some analysts were divided; others saw more upward moves. Price action: Tesla stock closed nearly 1% lower at $ 633. 25 on Tuesday and fell 0. 92% in the meeting after business hours. Click here to see the latest EV news on Benzinga’s EV Hub. Latest Reviews for TSLA DateFirmActionFromTo Dec 2020JefferiesDowngradesBuyHold Dec 2020New StreetDowngradesBuyNeutral Dec 2020JP MorganMaintainsUnderweight View More Analyst Reviews for TSLA See the latest analyst reviewsSee more from Benzinga * Click here for option deals from Benzinga * Analysts are big advantage over Benzinga * Older automakers? Software, says Münster (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.

Bitcoin, U. . S.. . Dollar Index, US Dollar