Pot, Tesla, Bitcoin: Big 3 Market Rebound Updates
Pot stocks are making their move!
Last Friday, Aurora Cannabis Inc. had a massive 68% move up after its quarterly earnings report.
Then, it followed up with a 53% move on Monday.
A 158% spike in two days is impressive, but what makes this even more positive is that over those two days, 200 million shares of Aurora were traded.
To put that in perspective, 224.7 million shares were traded in January, February, March and April combined!
This surge of buying boosted many marijuana stocks.
This is a great sign of demand across the marijuana sector after months of falling prices.
The two largest U.S. marijuana companies also reported positive quarterly earnings.
Both saw revenue more than double over the past year.
This didn’t really come as a surprise to me since it’s similar to what we’ve seen across the entire sector.
The pot sector is bouncing back in a “V-recovery.”
One even made a new 52-week high.
This is the first time we’ve seen a pot stock make a 52-week high in months. This is a great indicator for demand and a massive rebound on the horizon.
To take advantage of the coming bull market for pot stocks, buy ETFMG Alternative Harvest ETF (NYSE: MJ).
Remember, I still think we’re going to lock in a pot stock double with this exchange-traded fund (ETF). So, now’s the time to buy in.
Tesla’s Back and Battery Day is Coming!
Earlier this week, Tesla reopened its plant in California for full production. It seems that the lockdowns won’t have much of an effect on its business.
In fact, its new Model Y and Model 3 are scheduled to be delivered within a couple of weeks of its original expected delivery dates.
Considering that it’s able to do this shows that it could even outpace its expectations as things return to normal.
And I expect that to be the case throughout all sorts of America 2.0 industries.
As companies begin making things again, production is going to reach or even exceed max capacity to make up for lost time. And we’ll see that reflected in its stocks.
We also have Tesla’s “Battery Day” coming up next month.
It will showcase its latest battery technology.
While its cars usually dominate the headlines, Tesla’s battery business is really the foundation of the company.
As I’ve said before, Tesla is just a battery company that happens to make cars.
Its batteries are also the underlying technology powering its energy storage and solar roof businesses, which are also extremely impressive and on the rise.
Bitcoin’s About to Break the $10K Mark Demand
There’s been a huge inflow of bitcoin demand.
It really started after the price crashed from $8,000 to $3,800 overnight. And it came at the perfect time: right before the halving.
As I’ve talked about before, the bitcoin halving is when the amount of new bitcoin entering the market is cut in half. About 87.5% of all the bitcoin that will ever exist have already been mined.
That remaining 12.5% will enter the market at a decreasing rate, which means new supply is dropping.
When you factor in the fact that about 43% of all existing bitcoin hasn’t been moved in over two years, it shows that demand for bitcoin is still extremely high.
So, that 50% drop in new supply creates a huge shortage that will create an increase in price.
This new wave of demand is going to not only be from individual people like it has been in the past, but from institutions.
We’re already seeing the beginning of this from crypto funds like Grayscale, which currently owns about 1.6% of all existing bitcoin.
You can see in this chart that institutions are piling in, with inflows of more than $1.6 billion in the first quarter of 2020 alone:
Considering a huge majority of the money that took bitcoin from a fraction of a penny to $20,000 was retail — the potential gains we could see from the inflow of institutional money are extremely high.
I believe that it won’t be long before bitcoin breaks through the $10,000 mark, and ultimately makes its way to new highs.
Based on the extreme supply-demand imbalance and how we’ve seen bitcoin rally before, $50,000 is certainly not out of the question this year.
Last Chance: 300% on a Single Stock
Before I sign off, Paul wanted me to remind me about a huge opportunity that ends tonight.
He’s been seeing huge success recently with one strategy. And he knows that many of you are looking for new America 2.0 opportunities.
That’s why he’s putting together a special webinar event next Tuesday, May 26.
Right now, he has America 2.0 winners with open gains of 147%, 130%, 162% and 91%. And these plays have been open for less than a year.
Now, he’s gearing up to will reveal details for his next big trade recommendation — one that he believes can skyrocket by at least 300% as the great American Recovery unfolds. It’s in a sector that is primed to surge by no less than 200%.
You won’t want to miss this. Click here to reserve your seat before midnight.
Editor, Rebound Profit Trader
|CryptoCurrency||USD||Change 1h||Change 24h||Change 7d|
|Bitcoin||0.26 %||1.10 %||8.37 %|
|Ethereum||0.76 %||2.39 %||19.25 %|
|Tether||0.04 %||0.65 %||0.06 %|
|XRP||0.66 %||1.26 %||4.92 %|
|Bitcoin Cash||0.57 %||1.10 %||9.85 %|
|Bitcoin SV||0.02 %||0.31 %||7.41 %|
|Litecoin||0.96 %||2.48 %||10.69 %|
|Cardano||1.08 %||11.06 %||56.12 %|
|Binance Coin||0.44 %||2.47 %||7.27 %|
|EOS||0.25 %||1.10 %||7.08 %|
|Tezos||0.29 %||3.87 %||8.33 %|
|ChainLink||0.51 %||3.37 %||14.81 %|
|Stellar||1.74 %||7.59 %||26.62 %|
|Crypto.com Coin||1.09 %||5.50 %||20.20 %|
|OKB||0.17 %||4.51 %||4.37 %|
|LEO Token||1.02 %||4.47 %||7.06 %|
|Monero||0.41 %||3.66 %||9.33 %|
|TRON||0.80 %||4.18 %||14.89 %|
|Huobi Token||0.21 %||1.16 %||4.36 %|
|NEO||1.71 %||5.81 %||25.70 %|