Right before the covid-19 scare, a time where we used to watch professional sports on television, the economy was ripping and roaring. Speculation was running rampant, toilet paper was handy, and money was swishing and sloshing around. During this time, the first week of February 2020 (pre-covid), Tesla and Virgin Galactic were leading the way higher in our stock of the year contest, I did a post HERE. From that post things began to deteriorate rather quickly.
Fast forward to Mid-April 2020, a few trillion printed by the Fed and millions unemployed, and what do we have? We have $TSLA & $SPCE leading again. Just take a look at the leaderboard to the “2020 Stock of the year contest”:
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Take this for what it’s worth, but it seems the market is a bit complacent in just a matter of weeks. TESLA IS UP 70% for the year, the Nasdaq is barely down for the year, and AMAZON is trading at all time highs, as it should.
Panic has been erased from the market and dislocations have been met by value investors. The easy money has been made, but I have a hard time believing the market continues higher here. But, then again, who am I to fight a money printer that goes Brrrrr.
Can’t fight the fed pump pic.twitter.com/2JLc9CQ6sj
— Jason Spatafora (@WolfOfWeedST) April 14, 2020