News from johnpatrick.com
The MAGFA stocks were mostly flat. Coinbase up a little based on the rise of crypto. Roblox had a nice gain but I believe it will continue to be volatile as investors try to figure out if the platform is just 9-year-olds. I believe they will be successful in attracting older fans. Robinhood fell back but still up nicely from the listing price. Remains to be seen if it will be a meme or a surrogate for the modernization of financial transactions. I find it incredibly easy to use.
Crypto got had another big boost this week Bitcoin up 12%, Ethereum up 14%, and the rest of the 11,000+ cryptos up 19%. Most of the latter will disappear. Many are a joke or fraudulent. AMC theaters announced they will be accepting crypto for movie tickets by yearend. The new SEC head is pushing for regulation, and I think this is a good thing. He taught crypto for three years at MIT, so he knows what is going on.