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Tesla Stock Is Getting Hammered. Here’s Where Shares Might Find Support.

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Tesla cars at one of the auto maker’s super-charging stations.


Andrew Caballero-Reynolds/AFP via Getty Images

The


Tesla

selloff turned into a bloodbath briefly Monday, leaving dazed bulls are searching for where the stock will bottom out, when the selling will finally be done.

Tesla shares (ticker: TSLA) bounced back with the rest of the market to close Monday trading. That offered some relief. Looking ahead, investors should keep a couple of moving averages in mind when thinking about where Tesla stock is headed in the short run.

Shares of Tesla were down 9.8% to $851.47 at Monday’s lows. They bounced back, up more than $78, to close at $930, a 1.5% drop. Nearly all stocks rebounded, but Tesla fared worse than the


S&P 500

and


Dow Jones Industrial Average

—both of which were up 0.3% on the day. The


Nasdaq Composite Index

rose 0.6%.

It was, frankly, a

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The best stocks to own when interest rates rise: Morning Brief

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

Monday, January 24, 2022

Memo to investors: Don’t buy flaming piles of garbage right now. 

Those flaming piles of garbage could be the five software stocks (of companies losing money and valued at 85 times forward earnings) on your watchlist that have on average lost 25% in the past four weeks as a result of Federal Reserve rate hike fears (and to a lesser extent slowing growth, as seen in Netflix’s earnings last week). Or, it could be the five bitcoin derivative plays that have shed 15% in five sessions as prices for the benchmark crypto have fallen through a trap door to commence 2022. 

Nope, in this environment of soon-to-be much higher rates friends, the data is clear — buy quality. 

And what

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Bitcoin (BTC) Heads towards sub-$30,000 as the FED’s January Policy Decision Nears

Bitcoin (BTC) and the broader market were back in the deep red on Saturday. A 4th consecutive day in the red saw Bitcoin visit sub-$35,000 levels for the first time since 25th July.

On the day, Bitcoin fell by 3.82% to end the day at $35,076. Things were no better elsewhere. Ethereum (ETH) followed Friday’s 14.4% slump with a 6.12% loss, with Crypto.com Coin (CRO) tumbling by 16.87%. Crypto.com Coin had fallen by 14.6% on Friday. Cardano (ADA) fared marginally better, falling by just 4.46% on Saturday.

The crypto market cap fell by a further $85bn on Saturday, after having given up $200bn on Friday. At the time of writing, the total market cap stood at $1,611bn. In November, the total market cap had risen to an ATH $3,009bn before stumbling to a current month low $1,514bn.

The Bitcoin Fear & Greed Index

As at 22nd January,

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Stock Market Suffers Worst Week Since 2020. Here’s What Comes Next.

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The decline has been painful for investors who have been trained to buy on the dips.


Michael Nagle/Bloomberg

A bad start to 2022 just got a whole lot worse.

The


Dow Jones Industrial Average

declined 1646.44 points, or 4.6%, this past week. That looked stellar next to the


S&P 500,

which fell 5.7%, and the


Nasdaq Composite,

which dropped 7.6% and is now down 14% from its all-time high, hit back in November. All three suffered their worst weeks since 2020.

The drops make a strange kind of sense. Last year’s gains were fueled by a combination of easy monetary policy from the Federal Reserve, generous handouts from the federal government, and booming corporate earnings. Earnings should still be solid—corporate profits are on pace to grow by 24% during the fourth quarter, according to Refinitiv data—but the dollars have stopped flowing out of Washington and the Fed is

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These 2 Cannabis Stocks Could Double From Current Levels, Says Analyst

It’s no secret that new markets, and new industries, offer investors superior return potential. It’s a function of an open field, one in which the high points have yet to be claimed and every move has a greater chance of landing in an advantageous position. One example of this phenomenon is the cannabis industry, and the vistas it has opened for enterprising stock investors.

Cannabis isn’t new – but the legal regime is. Numerous states have been legalizing the plant and its extracts in past decade or more, and while the US has not passed national legalization, Canada has, as have several countries in Europe. The result is an expanding industry, as companies have grown up to take advantages of openings in growing, producing, marketing, and distributing cannabis and cannabis extracts to the medical and adult/recreational sectors.

Taking a look at the US cannabis sector as a whole, Needham’s 5-star

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China Orders Entertainment and Tech Firms to Stay in Their Lane

Chinese regulators teamed up on Wednesday to issue a volley of orders that will crimp the expansion of the country’s entertainment and tech giants, including Alibaba, Tencent and TikTok-owner Bytedance.

The directives came in the same week that the U.S. increased its pushback against some of the same Chinese firms, pointing to security concerns, and a Canadian researcher found the app for athletes at Beijing’s Winter Olympics to be full of security flaws.

Nine different departments, including China’s National Development and Reform Commission (NDRC), the State Administration for Market Regulation and the Cyberspace Administration of China, issued joint statements about how to regulate and tame development of what it labels “the online platform sector.”

Prominent among the new policy directives is the strict regulation of the tech companies’ activities and investments in the finance sector.

“Platform operators must not use data, technology, market, or capital advantages to restrict the independent

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