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- Feb 9 Stock Market Update: Bitcoin goes up 10% to over $47K
Feb 9 Stock Market Update: Bitcoin goes up 10% to over $47K
$NET $AKAM
Market
"Crypto Ransom payments hit the highest level in 2023 to over $1.1 Billion and will likely get to over $3 Billion in 2024”. Chainanalysis 🤔 🥴
Be careful with your long positions now, and EXPECT the market to go down a little - never has the market gone up for 19/20 weeks consistently. Something has to give.
For the week we were up on the NASDAQ strong but SPY did well too as did Russell 2000
Across the board positive movement from all indices with earnings momentum from small companies (Cloudflare $NET) to large (ARM $ARM) and Disney $DIS.
Our subscription service gives specific entries and exits for both long term holds and swing positions. You should subscribe.
Technology continues to lead - weekly view
The difference in multiple for SaaS companies considered to be #AI versus SaaS companies considered non #AI is dramatic. Look at this chart below. This is from the public list of over 92 companies in SaaS.
3X Non AI valuations
Video of the day
Today’s video is on Shopify - although most of you know about $SHOP what you don’t appreciate is probably the TAM increase.
Deep dive of the day
Today’s writeup is on Vita COCO a coconut water company.
Good setups for swing
$NET is heading to $131, so yeah it is up a lot, but more room to go up
$AKAM - stretched on the daily and weekly but heading to $143