News • 3 min read
By Aron Abraham
As 2021 is slowly coming to an end, investors’ sentiment seems to be returning to positive following recent market movements. Crypto struggled to regain momentum, while some assets performed better than average - find out all you need to know in this week’s market recap.
The infamous meme token, Shiba Inu (SHIB) shook the entire crypto market by its extreme price movement earlier this year, even securing a spot among the top 10 cryptocurrencies for a short while. But just when the hype seemed to be over, the project reclaimed the spotlight by revealing plans about launching a multi-platform game where SHIB holders will be able to play with or against each other. The game will be created within the first half of 2022.
The civil trial of what some hoped would be the lawsuit revealing the real identity of Satoshi Nakamoto finally came to an end. Craig Wright, known to the public for claiming to be Bitcoin’s creator Satoshi Nakamoto, was sued by the family of the deceased Dave Kleiman for a share of the 1.1M Bitcoin that Wright and Kleiman allegedly mined together in BTC’s early days. Wright was only found guilty of intellectual property theft and has to pay Kleiman’s family $100M in damages. For some, Wright’s innocence is the final proof he might actually be Satoshi Nakamoto, for others it’s an expensive way to keep the lie going.
The stock market closed a pretty positive week with European and U.S. indexes closing with some healthy percentage points in the green, especially with the S&P 500 reaching a record high for the second time this year. The Asian stock market also closed the week safely in the green. Even though market sentiment is still fearful, investors seem to be more optimistic than in the past two weeks.
The American technology company which is famous for providing e-signature and contract solutions took a significant hit after its report about expected and achieved results. Following the missed targets, many of the top analyst firms such as JPMorgan and While Citi lowered their ratings of DOCU and adjusted their price estimates heavily. Since the event, DOCU’s price has seen a slight rebound, but is still trading around the valuation reached after the dip.
Volkswagen (VOW)’s price closed an outstanding week, as the German giant has recently announced multiple partnerships with leading battery technology companies, such as Vulcan Energy Resources, in a significant effort to fully transition its offering to electric vehicles by 2040. The firm also invested in battery startup 24M Technologies, further supporting the above long-term goal. Overall, Volkswagen aims to dedicate €30B to its electric vehicle developments, including six new megafactories opening in Europe in the upcoming years.
This article does not constitute investment advice, nor is it an offer or invitation to purchase any digital assets. This article is for general purposes of information only and no representation or warranty, either expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this article or opinions contained herein. Bitpanda Stocks are contracts replicating an underlying stock or ETF. More information and the PRIIPs key information document (KID) are available at bitpanda.com.
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